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It’s easy to become an enemy of the people when speaking truth — in historic drama, and today

It’s easy to become an enemy of the people when speaking truth — in historic drama, and today

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Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, listens as President Donald Trump speaks about the coronavirus at the White House, May 15, 2020. (AP Photo/Alex Brandon)

A doctor speaks about events they think will put public health at risk. Instead of responding with gratitude, political officials seek to silence and discredit the doctor. Is this in China, the United States, Canada or a small Norwegian town in Henrik Ibsen’s 1882 play An Enemy of the People?

These are extraordinary times that require us to come up with new ways to understand and tackle social, economic and health crises. But we can also look to literary texts to help us engage critically with complex social challenges and guide our thinking.

Ibsen’s play is a telling example of how revisiting classic literature can offer timely, prescient and compelling insights of enduring value. In the play, the character Dr. Stockmann goes public after he discovers that lucrative baths are polluted with a dangerous bacterium. The wrath of town officials and businessmen is swift and fierce.

Silencing the experts

In December 2019, China’s Dr. Li Wenliang and his colleagues were among the first to recognize a dangerous new virus. Li was detained and interrogated by local officials for sharing news of the virus through social media and tragically died from the coronavirus on Feb. 7.

Li became a global symbol for how inconvenient expertise may be silenced, although he was posthumously exonerated. National authorities designated him as a martyr — the highest official title that can be assigned to a citizen in China who gives their life in the service of the country.

Recently, on this side of the Pacific Ocean, similar patterns have emerged, minus the martyrdom.

In the U.S., Dr. Rick Bright, director of the Biomedical Advanced Research Development Authority (BARDA), had been presiding over the development of a COVID-19 vaccine and was “re-assigned.”

Bright filed a whistleblower complaint against the Trump administration, alleging that leaders at the Department of Health and Human Services ignored his COVID-19 early warnings. He also said he was fired because he resisted promoting hydroxychloroquine and chloroquine as cures.

Dr. Rick Bright, former director of the Biomedical Advanced Research and Development Authority, arrives for a U.S. House Energy and Commerce Subcommittee on Health hearing to discuss protecting scientific integrity in response to the coronavirus outbreak in May 2020 in Washington. (Greg Nash/Pool via AP)

Bright’s description of a political culture that favours “politics and cronyism” over science is the latest evidence that American experts and authorities are not insulated from the vulgar and avaricious reach of the Trump administration. And it’s here that Ibsen’s classic presents the clearest analogue to this historical moment.

Fate of truth-tellers

Bright is a respected, mid-career medical authority who held wide influence over U.S. public health policy, in an similar way as Stockmann does in Ibsen’s fictional Norwegian town. Bright’s soft-spoken demeanour differs from Stockmann’s more abrasive tone, but the two share a commitment to professional integrity, accountability and the public good that put them at odds with political leaders who prioritize profits over human health and safety.

In the play, Stockmann writes an article for the town’s newspaper revealing the state of the baths to the public. When the town’s mayor gets word of the forthcoming public disclosure, he immediately confronts Stockmann and implores him to reconsider. The mayor promptly informs the doctor that repairs to the baths would have crippling costs, take two years to complete and destroy the town’s economy.

The mayor desperately offers:

“Perhaps the situation is not as bad as you represent.”

Stockmann has a disquieting response:

“I tell you it is even worse — or at all events it will be in the summer when the warm weather comes.”

The mayor ultimately uses his connections and influence to stop the article’s publication. In the play’s climax, Stockmann opts to reveal the truth at a town hall. His message is received poorly by the audience and he is promptly fired and labelled an “enemy of the people.”

Targeted by the right

Similarly, Bright’s recent congressional testimony warned that America faces “the darkest winter in recent human history.” One key difference is that Bright’s voice was not silenced by the media. And while Bright lost his job, his testimony has been positively received by the American public.

At the same time, the politicization of the pandemic has rendered him a target of the right’s culture wars, as the debate over economic closures, death counts and now mask- wearing intensifies.

Similarly, the right has recently repudiated Dr. Anthony Fauci as an agent of economic destruction. Fauci’s implicit and explicit rebukes of Trump’s erratic reopening plans have attracted the ire of the reactionary right and of the president himself.

Crucially, Trump has repeatedly used the phrase “enemy of the people” to attack critical journalism; now the same phrase has been heard at an anti-lockdown protests.

Right-wing networks and advocacy groups are also supporting “open the economy” protests. Some protestors have accused government or hospital authorities of fabricating the crisis and health-care workers of being stand-in actors. Such tactics are akin to excoriating people in public service as “enemies of the people.”

Expressions of racism

In Canada, Conservative MP Derek Sloan’s racist attack on Dr. Theresa Tam, Canada’s Chief Public Health Officer, provides another example of the political subversion of expertise that is at the fulcrum of Ibsen’s play.

Racialized challenges to experts and reopening-the-economy protests dominated by white people who wield guns and hold racist symbols are about re-affirming white supremacy and defending an inequitable and unjust status quo.


Read more: Inquiry into coronavirus nursing home deaths needs to include discussion of workers and race


Chief Public Health Officer Dr. Theresa Tam speaks during a news conference in West Block on Parliament Hill in Ottawa, on June 1, 2020. (THE CANADIAN PRESS/Justin Tang)

Lessons in moving forward

So, what then can we learn from this 19th-century play about how to move forward?

At the end of the play, Stockmann rededicates himself to education in the hopes of winning future battles for the public good. He announces to his family he’ll start a progressive school at the site of his public debasement — the town hall — to teach the next generation to reject the town’s petty thinking and corruption.

This is noteworthy. Li, Bright, Fauci and Tam have educated the public through their public commentary, testimony or actions, in addition to providing scientific expertise. Fauci, for instance, has publicly committed to wearing a face mask to model responsible behaviour and Tam has patiently explained evolving guidelines in Canada on wearing masks.

In turn, we all ought to recommit ourselves to formal and informal education that emphasizes responsible citizenship, the value of inclusive but rigorous knowledge and the importance of collaboration — and, at times, personal sacrifice in the interest of the common good.

Such steps are essential to resisting the plague of neoliberal economic expediency and competitive individualism that endangers so many aspects of our social and environmental life. And perhaps now is also an ideal time to be reading and teaching more Ibsen.

John Drew does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

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Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

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They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

More Tech Stocks:

Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

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Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

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There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

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