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Key Events This Week: All Eyes On Payrolls

Key Events This Week: All Eyes On Payrolls

It was another rollercoaster week – the 11th drop in the past 13 – which however ended with a monster…



Key Events This Week: All Eyes On Payrolls

It was another rollercoaster week - the 11th drop in the past 13 - which however ended with a monster rally in bonds and stocks as markets priced in the coming Fed rate cuts, and although it'll likely be on the quieter side in markets today, we won't be able to escape the near-term recession risks for very long. As we noted last week, the Atlanta Fed Q2 tracker is now at -2.08% after slumping into negative territory at the end of last week, and if this is close to the mark that would mean two negative quarters and a technical recession.

The official definition is owned by the NBER and they will likely need more evidence (and a political green light or three) before they would declare it as they look at a broader range of indicators than just headline growth. However we'll likely know we're in it before it's declared so it'll be crucial to work out if this is the start to a descent into bigger problems or if that's still some months away. Note, as Deutsche Bank's Jim Reid notes, it continues to be "when not if".

A big swing factor here could be employment and this week is jam packed with US labor data. Payrolls (Friday) will be the headliner but JOLTS (Wednesday), ADP and claims (Thursday) will also be very important. As Jim Reid notes, labor markets remain strong around the world and although this is a generally a lagging indicator, some kind of turn should occur before we can declare what is absolutely the inevitable dive into recession (there is an outside chance of a negative print as soon as this Friday).

For what it's worth, DB economists expect payrolls to slow (+225k forecast vs. +390k previously) but with unemployment falling a tenth to 3.5%. In many ways JOLTS (Wednesday) is the preferred employment measure although it has the disadvantage of being even more delayed as it is a month behind so we'll only get May's data this week. In the report, job openings have remained roughly 4.5mn above where they were prior to the pandemic so unless this dips there will still be a lot of demand for labor and the tightness will continue, leaving the Fed with a huge dilemma as growth slows. June's US services ISM on Wednesday will be watched for the headline growth implications and also the employment component which has been 'only' hovering around 50 in recent months.

It's worth noting, as DB's Reid does, that the increased growth pessimism towards the end of last week stabilized equities as a big rally in bonds and a more dovish repricing of the Fed kicked in. 10yr Treasuries rallied -25.0bps last week (-13.3bps Friday), their largest weekly decline since March 2020, and although the S&P 500 finished -2.21% lower, it did rally +1.06% on Friday on lower yields as Fed expectations kicked in.

Back to the week ahead and we'll see how central banks were thinking about this weak growth vs labor tightness dilemma in the minutes from the Fed's (Wednesday) and ECB's (Thursday) June meetings but this will be slightly dated in light of how rapidly the macro is evolving.

Elsewhere, trade and industrial data will be due from key economies globally. May trade data will be out for the US (Thursday), Germany (today), Japan and France (Friday). For the US, May factory orders will be released tomorrow, followed by June's ISM services index on Wednesday. In Europe, the Eurozone's PPI for May is due today, followed by May industrial production for Germany (Thursday) and France, June PMIs for Italy (Tuesday), and Germany's May factory orders (Wednesday).

In Asia, the highlight will perhaps be the Caixin services and composite PMIs for China and the RBA meeting taking place tomorrow. Our economists expect the central bank to hike by +50bp.

Courtesy of DB, here is the full week ahead calendar day-by-day

Monday July 4

  • Data: Japan June monetary base, Germany May trade balance, Eurozone May PPI, Canada June PMI
  • Central banks: ECB's Nagel and Guindos speak, BoC's Business Outlook

Tuesday July 5

  • Data: US May factory orders, China June services and composite Caixin PMIs, Japan May labour cash earnings, France May industrial and manufacturing production, Italy June services and composite PMI, deficit to GDP Q1, UK June new car registrations, official reserves changes, Canada May building permits
  • Central banks: BoE's financial stability report, BoE's Tenreyro speaks. RBA meeting.

Wednesday July 6

  • Data: US June ISM services index, May JOLTS report, China June foreign reserves, Germany May factory orders, June construction PMI, UK June construction PMI, Eurozone May retail sales
  • Central banks: FOMC June meeting minutes, ECB's Rehn speaks, BoE's Pill and Cunliffe speak

Thursday July 7

  • Data: US May trade balance, June ADP employment change, initial jobless claims, Japan May leading and coincident index, Germany May industrial production, Canada May international merchandise trade
  • Central banks: ECB's account of June meeting, Fed's Waller and Bullard speak, BoE's decision maker survey, BoE's Mann speaks, ECB's Lane, Stournaras, Centeno and Herodotou speak

Friday July 8

  • Data: US June nonfarm payrolls report, unemployment rate, participation rate, average hourly earnings, May wholesale trade sales, consumer credit, Japan June Economy Watcher survey, bank lending, bankruptcies, May household spending, trade balance, France May trade balance, Italy May industrial production, Canada June net change in employment, unemployment rate, hourly wage rate, participation rate
  • Central banks: Fed's Williams speaks, ECB's Lagarde and Villeroy speak

* * *

Finally, looking at the US, Goldman notes that the key economic data releases this week are the JOLTS job openings and ISM services reports on Wednesday, and the employment situation report on Friday. The minutes from the June FOMC meeting will be released on Wednesday and there are several speaking engagements from Fed officials, including Governor Waller and presidents Williams and Bullard.

Monday, July 4

  • There are no major economic data releases scheduled.

Tuesday, July 5

  • 10:00 AM Factory orders, May (GS +0.6%, consensus +0.5%, last +0.3%); Durable goods orders, May final (last +0.7%); Durable goods orders ex-transportation, May final (last +0.7%); Core capital goods orders, May final (last +0.5%); Core capital goods shipments, May final (last +0.8%): We estimate that factory orders increased 0.6% in May following a 0.3% increase in April. Durable goods orders increased 0.7% in the May advance report, and core capital goods orders increased 0.5%.

Wednesday, July 6

  • 09:00 AM New York Fed President Williams (FOMC voter) speaks: New York Fed President John Williams will make remarks at a virtual event on bank culture hosted by the New York Fed. On June 28, President Williams said, “In terms of our next meeting, I think 50 to 75 [basis points] is clearly going to be the debate. He added, “We’re far from where we need to be [regarding the federal funds rate]. My own baseline projection is we do need to get into somewhat restrictive territory next year given the high inflation...” He also indicated his growth forecast falls on the lower range among Fed officials: “I am expecting growth to slow this year, quite a bit, relative to what we had last year, and actually to slow to probably 1% to 1.5% GDP growth.”
  • 09:45 AM S&P Global US services PMI, June final (consensus 51.6, last 51.6)
  • 10:00 AM ISM services index, June (GS 54.4, consensus 54.0, last 55.9): We estimate that the ISM services index declined 1.5pt to 54.4 in June. Our forecast reflects sequential weakness in construction and real estate activity and the decline in our services tracker (-2.6pt to 53.9).
  • 10:00 AM JOLTS job openings, May (consensus 11,000k, last 11,400k)
  • 02:00 PM FOMC meeting minutes, June 14-15 meeting: The FOMC increased the federal funds rate target range by 75bp to 1.5%-1.75% at its June meeting. The median dot in the Summary of Economic Projections (SEP) showed a funds rate midpoint of 3.375% at end-2022. The statement dropped the expectation of a strong labor market, instead emphasizing that the Committee is “strongly committed” to returning inflation to target. The SEP showed a 0.5pp increase in the unemployment rate by end-2024 and below-potential GDP growth in 2022 and 2023.
  • On June 22, Chair Powell reiterated that the Fed will make “continued expeditious progress toward higher rates,” and noted “financial conditions have already priced in additional rate increases, but we need to go ahead and have them.” Chair Powell also noted that the Fed would not engage in active sales of mortgage-backed securities anytime soon. He emphasized that while the FOMC is “not trying to provoke and do not think we will need to provoke a recession,” it remained “absolutely essential” for the Fed to restore price stability, and noted that it would be “very challenging” for the Fed to achieve a soft landing.

Thursday, July 7

  • 08:30 AM Trade Balance, May (GS -$84.7bn, consensus -$84.9bn, last -$87.1bn): We estimate that the trade deficit decreased by $2.4bn to -$84.7bn in May, reflecting an increase in exports in the advanced goods report.
  • 08:30 AM Initial jobless claims, week ended July 2 (GS 225k, consensus 230k, last 231k); Continuing jobless claims, week ended June 25 (consensus 1,330k, last 1,328k); We estimate initial jobless claims ticked down to 225k in the week ended July 2: 
  • 01:00 PM Fed Governor Waller (FOMC voter) speaks: Fed Governor Christopher Waller will participate in an interview during a virtual National Association for Business Economics (NABE) event. A moderated Q&A is expected. On June 18, Governor Waller said, “This week, the FOMC took another significant step toward achieving our inflation objective by raising the Federal Funds rate target by 75 basis points. In my view, and I speak only for myself, if the data comes in as I expect I will support a similar-sized move at our July meeting.” He added, “The Fed is ‘all in’ on re-establishing price stability.”
  • 01:00 PM St. Louis Fed President Bullard (FOMC voter) speaks: St. Louis Fed President James Bullard will discuss the economic outlook and monetary policy at an event hosted by the Little Rock Regional Chamber. A Q&A with media and audience is expected. When discussing the US economy on June 24, President Bullard said, “I actually think we will be fine. It is a little early to have this debate about recession probabilities in the US” and reiterated his call for “front-loading” rate hikes. He noted, “this is in the early stages of the US recovery – or US expansion, we are beyond recovery. It would be unusual to go back into recession at this stage. Interest-rate increases will slow down the economy, but will probably slow down to more of a trend pace of growth as opposed to going below trend. I don’t think this is a huge slowing. I think it is a moderate slowing in the economy.” On June 28, he published an essay on lessons from the 1974 and 1983 US policy responses to inflation.

Friday, July 8

  • 08:30 AM Nonfarm payroll employment, June (GS +250k, consensus +273k, last +390k); Private payroll employment, June (GS +200k, consensus +240k, last +333k); Average hourly earnings (mom), June (GS +0.3%, consensus +0.3%, last +0.3%); Average hourly earnings (yoy), June (GS +5.0%, consensus +5.0%, last +5.2%); Unemployment rate, June (GS 3.6%, consensus 3.6%, last 3.6%): We estimate nonfarm payrolls rose by 250k in June (mom sa), a slowdown from the +390k pace in May. Job growth tends to be strong in June when the labor market is tight as firms aggressively hire youth summer workers. However, the June seasonal factors have evolved significantly more restrictive—perhaps overfitting to the reopening-related job surges in June 2020 and June 2021—and represent a headwind of roughly 200k in our view. Additionally, Big Data employment indicators were generally weaker in the month, consistent with a possible drag from tighter financial conditions and modestly higher layoffs in the retail and tech sectors. We estimate an unchanged unemployment rate at 3.6%, reflecting a solid rise in household employment offset by a 0.1pp rise in labor force participation to 62.4%. We estimate a 0.3% rise in average hourly earnings (mom sa) that lowers the year-on-year rate by two tenths to 5.0%. The arrival of the youth labor force may have eased some of the upward pressure on wages, but we see scope for supervisory earnings to rebound after two weak months (we assume neutral calendar effects).
  • 10:00 AM Wholesale inventories, May final (consensus +2.0%, last +2.0%)
  • 11:00 AM New York Fed President Williams (FOMC voter) speaks: New York Fed President John Williams will make remarks at an event hosted by the University of Puerto Rico. A Q&A with media and audience is expected.

Source: DB, BofA, Goldman Sachs

Tyler Durden Mon, 07/04/2022 - 11:10

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Who Can You Trust?

Who Can You Trust?

Authored by James Howard Kunstler via,

“I’m sick and tired of hearing Democrats whining about Joe Biden’s…



Who Can You Trust?

Authored by James Howard Kunstler via,

“I’m sick and tired of hearing Democrats whining about Joe Biden’s age. The man knows how to govern. Just shut up and vote to save Democracy.”

- Rob Reiner, Hollywood savant

Perhaps you’re aware that the World Health Organization (WHO) is cooking up a plan to impose its will over all the sovereign nations on this planet in the event of future pandemics.

That means, for instance, that the WHO would issue orders to the USA about lockdowns, vaccines, and vaccine passports and we US citizens supposedly would be compelled to follow them.

Why the “Joe Biden” regime would go along with this globalist fuckery is one of the abiding mysteries of our time - except that they go along with everything else that the cabal of Geneva cooks up, such as attacks on farmers, and on oil production, and on relations between men and women, and on personal privacy, and on economic liberty throughout Western Civ, as if they’re working overtime to kill it off. And all of us with it.

I think they are working overtime at that because the sore-beset citizens of Western Civ are onto their game, and getting restless about it. So, the Geneva cabal is in a race against time before the center pole of their circus tent collapses and the nations of the world are compelled to follow the zeitgeist in the direction of de-centralizing, foiling all their grand plans.

The “Joe Biden” regime is pretending to ignore the reality that this WHO deal is actually a treaty that would require ratification by a two-thirds vote in the senate, an unlikely outcome. In any case, handing over authority to the WHO — in effect, to its chief Tedros Adhanom Ghebreyesus — to push around American citizens like a giant herd of cattle would be patently unlawful.

That center pole of the circus tent is the wobbling global economy. It’s barely holding up the canvas over the three rings of the circus. In the center ring, the death-defying spectacle of the Biden Family crime case is playing out before a huge audience (us). This week, a gun went off at the FBI and smoke is curling out of the barrel. FBI Director Christopher Wray was forced to verify that he’s been sitting on an incriminating document for three years from a “trusted” confidential human source, i.e., an informant, stating that the Biden Family received a $5-million bribe from a foreign entity when “JB” was vice-president.

That’s only one bribe of many others, of course, as documented in the Hunter Biden laptop, and it must be obvious it represents treasonous behavior that will demand resignation or impeachment. As this spools out in the weeks and months ahead, do you think Americans will be in the mood to accept further insults such as “Joe Biden” surrendering our national sovereignty to the WHO?

Anyway, you must ask yourself: why on earth should I trust the WHO about anything? Did they not participate in laying a trip on the world with Covid-19? How did those lockdowns work out? Do you think they destroyed enough businesses and ruined enough households? How’s the vaccination program doing? Effective? Safe? Yeah, maybe not so much. Maybe killing a lot of people, wrecking immune systems, sterilizing reproductive organs, causing gross disabilities, shattering lives.

Of course, in over three years neither the WHO nor the US medical authorities showed the slightest interest in helping to figure out how the Covid-19 virus was made in a lab, and exactly how it got loose in the world. Lately, Dr. Ghebreyesus has warned the world about much worse future pandemics supposedly coming down at us. Oh? Really? What does he know that we don’t? That possibly new efforts to concoct chimeric diseases are ongoing in labs around the world? (You know that dozens of such labs were discovered in Ukraine as the war got underway there in 2022.) What’s Dr. Ghebreyesus doing to stop that?

If US orgs and citizens are involved in this “research,” why doesn’t the WHO alert our government leaders so they can stop it? (Would they? I’m not so sure.) And, who is behind it this time? The Eco-Health Alliance again, like with Covid-19? By the way, that outfit got another whopping grant last fall from the NIH to “study” bat viruses — right after the NIH terminated a previous grant on account of The Eco-Health Alliance failing to turn over notebooks and other records.

No, you cannot trust the WHO about anything. The “trust horizon” (a concept introduced by the great Nicole Foss, late of The Automatic Earth dot com) is shrinking. You can no longer trust any distant authorities. You also cannot trust the US federal government (especially the executive branch behind “Joe Biden”). And notice: the trust horizon is shrinking just as the world is de-centralizing. This, you see, is the main contradiction behind all the Globalists’ twisted ambitions to control everything, including you. They are working against the current tide of human history which is pushing everything toward down-scaling, re-localization, and re-assertion of the sovereign individual person.

That trend will become increasingly evident as things organized at the giant scale start to implode — giant retail chains, medical behemoths, hedge funds, big banks, you name it. The world no longer has the mojo for globalism. There’s reason to wonder these days whether the USA has the mojo to remain a unified national polity of states. Our federal government is not only financially bankrupt beyond any coherent reckoning, it is also morally bankrupt, and it has decided to make war against its own people. None of this is satisfactory and none of this is working. It’s time to figure out who and what you can trust and act accordingly.

Tyler Durden Sun, 06/04/2023 - 09:20

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Removing antimicrobial resistance from the WHO’s ‘pandemic treaty’ will leave humanity extremely vulnerable to future pandemics

Drug-resistant microbes are a serious threat for future pandemics, but the new draft of the WHO’s international pandemic agreement may not include provisions…




Antimicrobial resistance is now a leading cause of death worldwide due to drug-resistant infections, including drug-resistant strains of tuberculosis, pneumonia and Staph infections like the methicillin-resistant Staphylococcus aureus shown here. (NIAID, cropped from original), CC BY

In late May, the latest version of the draft Pandemic Instrument, also referred to as the “pandemic treaty,” was shared with Member States at the World Health Assembly. The text was made available online via Health Policy Watch and it quickly became apparent that all mentions of addressing antimicrobial resistance in the Pandemic Instrument were at risk of removal.

Work on the Pandemic Instrument began in December 2021 after the World Health Assembly agreed to a global process to draft and negotiate an international instrument — under the Constitution of the World Health Organization (WHO) — to protect nations and communities from future pandemic emergencies.

Read more: Drug-resistant superbugs: A global threat intensified by the fight against coronavirus

Since the beginning of negotiations on the Pandemic Instrument, there have been calls from civil society and leading experts, including the Global Leaders Group on Antimicrobial Resistance, to include the so-called “silent” pandemic of antimicrobial resistance in the instrument.

Just three years after the onset of a global pandemic, it is understandable why Member States negotiating the Pandemic Instrument have focused on preventing pandemics that resemble COVID-19. But not all pandemics in the past have been caused by viruses and not all pandemics in the future will be caused by viruses. Devastating past pandemics of bacterial diseases have included plague and cholera. The next pandemic could be caused by bacteria or other microbes.

Antimicrobial resistance

Yellow particles on purple spikes
Microscopic view of Yersinia pestis, the bacteria that cause bubonic plague, on a flea. Plague is an example of previous devastating pandemics of bacterial disease. (NIAID), CC BY

Antimicrobial resistance (AMR) is the process by which infections caused by microbes become resistant to the medicines developed to treat them. Microbes include bacteria, fungi, viruses and parasites. Bacterial infections alone cause one in eight deaths globally.

AMR is fueling the rise of drug-resistant infections, including drug-resistant tuberculosis, drug-resistant pneumonia and drug-resistant Staph infections such as methicillin-resistant Staphylococcus aureus (MRSA). These infections are killing and debilitating millions of people annually, and AMR is now a leading cause of death worldwide.

Without knowing what the next pandemic will be, the “pandemic treaty” must plan, prepare and develop effective tools to respond to a wider range of pandemic threats, not solely viruses.

Even if the world faces another viral pandemic, secondary bacterial infections will be a serious issue. During the COVID-19 pandemic for instance, large percentages of those hospitalized with COVID-19 required treatment for secondary bacterial infections.

New research from Northwestern University suggests that many of the deaths among hospitalized COVID-19 patients were associated with pneumonia — a secondary bacterial infection that must be treated with antibiotics.

An illustrative diagram that shows the difference between a drug resistant bacteria and a non-resistant bacteria.
Antimicrobial resistance means infections that were once treatable are much more difficult to treat. (NIAID), CC BY

Treating these bacterial infections requires effective antibiotics, and with AMR increasing, effective antibiotics are becoming a scarce resource. Essentially, safeguarding the remaining effective antibiotics we have is critical to responding to any pandemic.

That’s why the potential removal of measures that would help mitigate AMR and better safeguard antimicrobial effectiveness is so concerning. Sections of the text which may be removed include measures to prevent infections (caused by bacteria, viruses and other microbes), such as:

  • better access to safe water, sanitation and hygiene;
  • higher standards of infection prevention and control;
  • integrated surveillance of infectious disease threats from human, animals and the environment; and
  • strengthening antimicrobial stewardship efforts to optimize how antimicrobial drugs are used and prevent the development of AMR.

The exclusion of these measures would hinder efforts to protect people from future pandemics, and appears to be part of a broader shift to water-down the language in the Pandemic Instrument, making it easier for countries to opt-out of taking recommended actions to prevent future pandemics.

Making the ‘pandemic treaty’ more robust

Measures to address AMR could be easily included and addressed in the “pandemic treaty.”

In September 2022, I was part of a group of civil society and research organizations that specialize in mitigating AMR who were invited the WHO’s Intergovernmental Negotiating Body (INB) to provide an analysis on how AMR should be addressed, within the then-draft text.

They outlined that including bacterial pathogens in the definition of “pandemics” was critical. They also identified specific provisions that should be tweaked to track and address both viral and bacterial threats. These included AMR and recommended harmonizing national AMR stewardship rules.

In March 2023, I joined other leading academic researchers and experts from various fields in publishing a special edition of the Journal of Medicine, Law and Ethics, outlining why the Pandemic Instrument must address AMR.

The researchers of this special issue argued that the Pandemic Instrument was overly focused on viral threats and ignored AMR and bacterial threats, including the need to manage antibiotics as a common-pool resource and revitalize research and development of novel antimicrobial drugs.

Next steps

While earlier drafts of the Pandemic Instrument drew on guidance from AMR policy researchers and civil society organizations, after the first round of closed-door negotiations by Member States, all of these insertions, are now at risk for removal.

The Pandemic Instrument is the best option to mitigate AMR and safeguard lifesaving antimicrobials to treat secondary infections in pandemics. AMR exceeds the capacity of any single country or sector to solve. Global political action is needed to ensure the international community works together to collectively mitigate AMR and support the conservation, development and equitable distribution of safe and effective antimicrobials.

By missing this opportunity to address AMR and safeguard antimicrobials in the Pandemic Instrument, we severely undermine the broader goals of the instrument: to protect nations and communities from future pandemic emergencies.

It is important going forward that Member States recognize the core infrastructural role that antimicrobials play in pandemic response and strengthen, rather than weaken, measures meant to safeguard antimicrobials.

Antimicrobials are an essential resource for responding to pandemic emergencies that must be protected. If governments are serious about pandemic preparedness, they must support bold measures to conserve the effectiveness of antimicrobials within the Pandemic Instrument.

Susan Rogers Van Katwyk is a member of the WHO Collaborating Centre on Global Governance of Antimicrobial Resistance at York University. She receives funding from the Wellcome Trust and the Social Sciences and Humanities Research Council of Canada.

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Repeated COVID-19 Vaccination Weakens Immune System: Study

Repeated COVID-19 Vaccination Weakens Immune System: Study

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Repeated COVID-19…



Repeated COVID-19 Vaccination Weakens Immune System: Study

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Repeated COVID-19 vaccination weakens the immune system, potentially making people susceptible to life-threatening conditions such as cancer, according to a new study.

A man is given a COVID-19 vaccine in Chelsea, Mass., on Feb. 16, 2021. (Joseph Prezioso/AFP via Getty Images)

Multiple doses of the Pfizer or Moderna COVID-19 vaccines lead to higher levels of antibodies called IgG4, which can provide a protective effect. But a growing body of evidence indicates that the “abnormally high levels” of the immunoglobulin subclass actually make the immune system more susceptible to the COVID-19 spike protein in the vaccines, researchers said in the paper.

They pointed to experiments performed on mice that found multiple boosters on top of the initial COVID-19 vaccination “significantly decreased” protection against both the Delta and Omicron virus variants and testing that found a spike in IgG4 levels after repeat Pfizer vaccination, suggesting immune exhaustion.

Studies have detected higher levels of IgG4 in people who died with COVID-19 when compared to those who recovered and linked the levels with another known determinant of COVID-19-related mortality, the researchers also noted.

A review of the literature also showed that vaccines against HIV, malaria, and pertussis also induce the production of IgG4.

“In sum, COVID-19 epidemiological studies cited in our work plus the failure of HIV, Malaria, and Pertussis vaccines constitute irrefutable evidence demonstrating that an increase in IgG4 levels impairs immune responses,” Alberto Rubio Casillas, a researcher with the biology laboratory at the University of Guadalajara in Mexico and one of the authors of the new paper, told The Epoch Times via email.

The paper was published by the journal Vaccines in May.

Pfizer and Moderna officials didn’t respond to requests for comment.

Both companies utilize messenger RNA (mRNA) technology in their vaccines.

Dr. Robert Malone, who helped invent the technology, said the paper illustrates why he’s been warning about the negative effects of repeated vaccination.

“I warned that more jabs can result in what’s called high zone tolerance, of which the switch to IgG4 is one of the mechanisms. And now we have data that clearly demonstrate that’s occurring in the case of this as well as some other vaccines,” Malone, who wasn’t involved with the study, told The Epoch Times.

So it’s basically validating that this rush to administer and re-administer without having solid data to back those decisions was highly counterproductive and appears to have resulted in a cohort of people that are actually more susceptible to the disease.”

Possible Problems

The weakened immune systems brought about by repeated vaccination could lead to serious problems, including cancer, the researchers said.

Read more here...

Tyler Durden Sat, 06/03/2023 - 22:30

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