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Russophrenia… Or How A Collapsing Country Runs The World

Russophrenia… Or How A Collapsing Country Runs The World

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Russophrenia... Or How A Collapsing Country Runs The World Tyler Durden Fri, 10/23/2020 - 00:00

Authored by Patrick Armstrong via The Strategic Culture Foundation,

I am indebted to Bryan MacDonald for this brilliant neologism: Russophrenia – a condition where the sufferer believes Russia is both about to collapse, and take over the world.

An early example comes from 1992 when the then-Lithuanian Defence Minister called Russia a country “with vague prospects” while at the same time asserting that “in about two years’ time [it] will present a great danger to Europe” (FBIS 22 May 92 p 69).

Vague prospects but great danger. Given the vague demographic prospects of his own country, it was a rather ironic assertion given that Lithuania’s future would appear to be a few nursing homes surrounded by forest. But he said it in the days of the full EU/NATO cargo cult. In 2014 U.S. President Obama immortalised this in an interview:

But I do think it’s important to keep perspective. Russia doesn’t make anything. Immigrants aren’t rushing to Moscow in search of opportunity. The life expectancy of the Russian male is around 60 years old. The population is shrinking. And so we have to respond with resolve in what are effectively regional challenges that Russia presents.

Wrong on all counts: all he did was display how poorly advised he was.

Russia, Russia ever failing: will fail in 1992, finished in 2001, failed in 2006, failed in 2008, failing in 2010, failed in 2015. Russia’s failing economyisolationancient weaponsinstabilitya gas station masquerading as a countryDoomed to fail in Syria and losing influence even in its neighbourhood in 2020.

A country with GDP comparable to that of Australia cannot afford to be a superpower, fight a protracted war in Syria, fight in the Ukraine and develop its own stealth fighter and other equipment to match the United States.

In 2016 Stratfor, predicting the world of 2025, thought it unlikely that the Russian Federation will survive in its current form. And neither will Putin. He was only a petty dictator with a Swiss bank account in 2000; a Lt. Col. Kije in 2001; another Brezhnev in 2003; facing his biggest crisis in December 2011, under dire threat and losing his leverage in January 2015; weak and terrified in July 2015; overextending his reach in May 2016; losing his shine in June 2017; losing his grip in October 2018; losing their trust in June 2019; losing control in September 2019; his house of cards was wobbling and he was the symbol of Russia’s humiliation in August 2019. His political demise was near in January 2020; more crises and coronavirus could topple him in April, another biggest crisis in May; losing popular support in June; running out of tricks in August; holed up in isolation, another gravest crisis in October. Soon gone. Russia’s economy won’t last much longer either: smaller than Spain’s or California’s in 2014; in tatters and facing a slow and steady decline in 2015; surprisingly small in 2017; about the size of Belgium plus the Netherlands and smaller than Texas’ in 2018; headed for trouble in 2019. Weak energy prices its Achilles heel in 2020. And on and on: really weak in 2006; its three biggest problems in 2013; Russia is not strong. And Putin is even weaker in 2015. Don’t fear Russia, marginalize it because it’s weak and has a rapidly aging and shrinking population in 2018. Still weak in 2019 and Paul Gregory tells us that’s it’s weak but with nukes in 2020.

Occasionally – very occasionally – someone, more acute than most, wonders How Did A Weak Russia Ever Become A Great Power Again? or why with less money than Canada and fewer people than Nigeria, it “runs the world now”. But the explanations are facile: too much butter spent on guns or a passing situation:

In the emerging post-Cold War-era Russia, no matter how poor it is in many key areas, can be #2 in the world for many years to come. Only when China rises in the next 20 years or a new kind of President emerges in the United States will that change. Until then Vladimir Putin can play his games to his heart’s content.

Of course all of these headscratchers assume that the exchange rate of the ruble is the true measure of Russia’s economy; which is a pretty silly and misleading idea.

* * *

But at the same time Russia is an enormous, dangerous, existential threat functioning with enormous effectiveness in all dimensions.

Far from having the deceptively weak military of 2015, it is developing the world’s most powerful nuclear weapon in 2018 and in future wars the U.S. will have nowhere to hide. The next January we’re told that it and China are building Super-EMP bombs for ‘Blackout Warfare’. Russia has imposed aerial denial zones and fields eye-watering EW capabilities; it has “black hole” submarinesa generational lead in tanksan unstoppable carrier-killer missile and devastating air defence. It’s working on a new missile threat to the U.S. homeland. General Breedlove, former NATO Supreme Commander who did much to poke the bear, gives us a particularly striking example: he now fears that a war “would leave Europe helpless, cut off from reinforcements, and at the mercy of the Russian Federation.” The British army would be wiped out in an afternoonNATO would lose quickly in the Baltics – NATO’s totally outmatched. The Russian threat is unlike anything seen since the 1990s. The worry is that Nato has under-reacted.

Putin was the world’s most powerful man and, linking up with China, could soon become more powerful than the U.S. in 2018. He was wielding Russia’s formidable military and powerful economic policies in 2019. And never forget Russia’s major hacking threat and deadly malware. Its interference and influence in Western voting is stupendous: the 2016 U.S. electionBrexitCanadaFrance; the European UnionGermanyCataloniaNetherlandsSwedenItalyEU in particular and Europe in generalMexicoNewsweek gives a helpful list. And, long before Putin: “100 years of Russian electoral interference“. As a covert influence actor and purveyor of disinformation and misinformation Russia is the primary threat in the U.S. election.

Putin was a threat to the Rules-Based International Order in February 2007May 2014January 2017February 2018May 2018June 2019 and many months before or since.

During two decades as Russia’s leader, Vladimir Putin has rarely concealed his contempt for Western-style democracy and the rule of law. The poisoning of Russian political activist Alexey Navalny, amid a widening Russia-supported crackdown on opposition leaders in Belarus, indicates the lengths to which Putin and his cronies will go to silence their enemies and maintain power.

* * *

So, on the one hand Russia is a failing country, with a trivial economy, a greatly over-rated military led by someone who is always facing a catastrophe at home. Nothing to worry about there: presently weak and future uncertain. On the other hand, Russia has a tremendously powerful military, an economy that does whatever its ever-young autocratic permanent ruler wants it to. Its propaganda power is immense and unbeatable, the background determinant of the world’s action. Russophrenia.

And, out of the blue, COVID gives him another opportunity to bamboozle the helpless West and undermine its precious Rules-Based International Order. Somehow. See if you can make sense of this incoherence:

This should worry the West once the pandemic has passed. Not because Russia poses a serious long-term threat to our interests; it doesn’t, although Putin would prefer us to think that his shrivelled realm does. But because Russia is not the only authoritarian state seeking to learn lessons from the current crisis which could be used in a future conflict.

Russia’s Vaccine Stunt which experts worry is dangerous is being supported by attacks on the Oxford vaccine which Russia tried to steal. Russians, Russians everywhere!

Russophrenics are unaffected by reality. Russia’s success? Forget maleficence and try competence. Its military is designed to defend the country, not rule the world: a less expensive and attainable aim. Its economy – thanks to Western sanctions – has made it probably the only autarky in the world. Election interference is a falsehood designed to damage Trump and exculpate Clinton which has been picked up by Washington’s puppies. But don’t bother with mere evidence; As the author of this New Yorker piece explains:

Such externally guided operations exist, but to exaggerate their prevalence and potency ends up eroding the idea of genuine bottom-up protest—in a way that, ironically, is entirely congenial to Putin’s conspiratorial world view.

Or as the Washington Post memorably put it: “Especially clever is planting tales of supposedly far-reaching influence operations that either don’t actually exist or are having little impact.”

Scott Adams understands the process perfectly:

Absence of evidence is evidence.

Pretty crazy isn’t it? And getting crazier.

All this would be funny if it were Ruritania ranting at the Duchy of Strackenz.

But it isn’t: it’s the country with the most destructive military in the world and a proven record of using it ad libitum that is sinking into this insanity. And that’s not good for any of us.

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Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

In response to the virus pandemic and nationwide…

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Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

In response to the virus pandemic and nationwide Black Lives Matter riots in the summer of 2020, some elite colleges and universities shredded testing requirements for admission. Several years later, the test-optional admission has yet to produce the promising results for racial and class-based equity that many woke academic institutions wished.

The failure of test-optional admission policies has forced Dartmouth College to reinstate standardized test scores for admission starting next year. This should never have been eliminated, as merit will always prevail. 

"Nearly four years later, having studied the role of testing in our admissions process as well as its value as a predictor of student success at Dartmouth, we are removing the extended pause and reactivating the standardized testing requirement for undergraduate admission, effective with the Class of 2029," Dartmouth wrote in a press release Monday morning. 

"For Dartmouth, the evidence supporting our reactivation of a required testing policy is clear. Our bottom line is simple: we believe a standardized testing requirement will improve—not detract from—our ability to bring the most promising and diverse students to our campus," the elite college said. 

Who would've thought eliminating standardized tests for admission because a fringe minority said they were instruments of racism and a biased system was ever a good idea? 

Also, it doesn't take a rocket scientist to figure this out. More from Dartmouth, who commissioned the research: 

They also found that test scores represent an especially valuable tool to identify high-achieving applicants from low and middle-income backgrounds; who are first-generation college-bound; as well as students from urban and rural backgrounds.

All the colleges and universities that quickly adopted test-optional admissions in 2020 experienced a surge in applications. Perhaps the push for test-optional was under the guise of woke equality but was nothing more than protecting the bottom line for these institutions. 

A glimpse of sanity returns to woke schools: Admit qualified kids. Next up is corporate America and all tiers of the US government. 

Tyler Durden Mon, 02/05/2024 - 17:20

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Four burning questions about the future of the $16.5B Novo-Catalent deal

To build or to buy? That’s a classic question for pharma boardrooms, and Novo Nordisk is going with both.
Beyond spending billions of dollars to expand…

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To build or to buy? That’s a classic question for pharma boardrooms, and Novo Nordisk is going with both.

Beyond spending billions of dollars to expand its own production capacity for its weight loss drugs, the Danish drugmaker said Monday it will pay $11 billion to acquire three manufacturing plants from Catalent. It’s part of a broader $16.5 billion deal with Novo Holdings, the investment arm of the pharma’s parent group, which agreed to acquire the contract manufacturer and take it private.

It’s a big deal for all parties, with potential ripple effects across the biotech ecosystem. Here’s a look at some of the most pressing questions to watch after Monday’s announcement.

Why did Novo do this?

Novo Holdings isn’t the most obvious buyer for Catalent, particularly after last year’s on-and-off M&A interest from the serial acquirer Danaher. But the deal could benefit both Novo Holdings and Novo Nordisk.

Novo Nordisk’s biggest challenge has been simply making enough of the weight loss drug Wegovy and diabetes therapy Ozempic. On last week’s earnings call, Novo Nordisk CEO Lars Fruergaard Jørgensen said the company isn’t constrained by capital in its efforts to boost manufacturing. Rather, the main challenge is the limited amount of capabilities out there, he said.

“Most pharmaceutical companies in the world would be shopping among the same manufacturers,” he said. “There’s not an unlimited amount of machinery and people to build it.”

While Novo was already one of Catalent’s major customers, the manufacturer has been hamstrung by its own balance sheet. With roughly $5 billion in debt on its books, it’s had to juggle paying down debt with sufficiently investing in its facilities. That’s been particularly challenging in keeping pace with soaring demand for GLP-1 drugs.

Novo, on the other hand, has the balance sheet to funnel as much money as needed into the plants in Italy, Belgium, and Indiana. It’s also struggled to make enough of its popular GLP-1 drugs to meet their soaring demand, with documented shortages of both Ozempic and Wegovy.

The impact won’t be immediate. The parties expect the deal to close near the end of 2024. Novo Nordisk said it expects the three new sites to “gradually increase Novo Nordisk’s filling capacity from 2026 and onwards.”

As for the rest of Catalent — nearly 50 other sites employing thousands of workers — Novo Holdings will take control. The group previously acquired Altasciences in 2021 and Ritedose in 2022, so the Catalent deal builds on a core investing interest in biopharma services, Novo Holdings CEO Kasim Kutay told Endpoints News.

Kasim Kutay

When asked about possible site closures or layoffs, Kutay said the team hasn’t thought about that.

“That’s not our track record. Our track record is to invest in quality businesses and help them grow,” he said. “There’s always stuff to do with any asset you own, but we haven’t bought this company to do some of the stuff you’re talking about.”

What does it mean for Catalent’s customers? 

Until the deal closes, Catalent will operate as a standalone business. After it closes, Novo Nordisk said it will honor its customer obligations at the three sites, a spokesperson said. But they didn’t answer a question about what happens when those contracts expire.

The wrinkle is the long-term future of the three plants that Novo Nordisk is paying for. Those sites don’t exclusively pump out Wegovy, but that could be the logical long-term aim for the Danish drugmaker.

The ideal scenario is that pricing and timelines remain the same for customers, said Nicole Paulk, CEO of the gene therapy startup Siren Biotechnology.

Nicole Paulk

“The name of the group that you’re going to send your check to is now going to be Novo Holdings instead of Catalent, but otherwise everything remains the same,” Paulk told Endpoints. “That’s the best-case scenario.”

In a worst case, Paulk said she feared the new owners could wind up closing sites or laying off Catalent groups. That could create some uncertainty for customers looking for a long-term manufacturing partner.

Are shareholders and regulators happy? 

The pandemic was a wild ride for Catalent’s stock, with shares surging from about $40 to $140 and then crashing back to earth. The $63.50 share price for the takeover is a happy ending depending on the investor.

On that point, the investing giant Elliott Investment Management is satisfied. Marc Steinberg, a partner at Elliott, called the agreement “an outstanding outcome” that “clearly maximizes value for Catalent stockholders” in a statement.

Elliott helped kick off a strategic review last August that culminated in the sale agreement. Compared to Catalent’s stock price before that review started, the deal pays a nearly 40% premium.

Alessandro Maselli

But this is hardly a victory lap for CEO Alessandro Maselli, who took over in July 2022 when Catalent’s stock price was north of $100. Novo’s takeover is a tacit acknowledgment that Maselli could never fully right the ship, as operational problems plagued the company throughout 2023 while it was limited by its debt.

Additional regulatory filings in the next few weeks could give insight into just how competitive the sale process was. William Blair analysts said they don’t expect a competing bidder “given the organic investments already being pursued at other leading CDMOs and the breadth and scale of Catalent’s operations.”

The Blair analysts also noted the companies likely “expect to spend some time educating relevant government agencies” about the deal, given the lengthy closing timeline. Given Novo Nordisk’s ascent — it’s now one of Europe’s most valuable companies — paired with the limited number of large contract manufacturers, antitrust regulators could be interested in taking a close look.

Are Catalent’s problems finally a thing of the past?

Catalent ran into a mix of financial and operational problems over the past year that played no small part in attracting the interest of an activist like Elliott.

Now with a deal in place, how quickly can Novo rectify those problems? Some of the challenges were driven by the demands of being a publicly traded company, like failing to meet investors’ revenue expectations or even filing earnings reports on time.

But Catalent also struggled with its business at times, with a range of manufacturing delays, inspection reports and occasionally writing down acquisitions that didn’t pan out. Novo’s deep pockets will go a long way to a turnaround, but only the future will tell if all these issues are fixed.

Kutay said his team is excited by the opportunity and was satisfied with the due diligence it did on the company.

“We believe we’re buying a strong company with a good management team and good prospects,” Kutay said. “If that wasn’t the case, I don’t think we’d be here.”

Amber Tong and Reynald Castañeda contributed reporting.

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Petrina Kamya, Ph.D., Head of AI Platforms at Insilico Medicine, presents at BIO CEO & Investor Conference

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb….

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Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb. 26-27 at the New York Marriott Marquis in New York City. Dr. Kamya will speak as part of the panel “AI within Biopharma: Separating Value from Hype,” on Feb. 27, 1pm ET along with Michael Nally, CEO of Generate: Biomedicines and Liz Schwarzbach, PhD, CBO of BigHat Biosciences.

Credit: Insilico Medicine

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb. 26-27 at the New York Marriott Marquis in New York City. Dr. Kamya will speak as part of the panel “AI within Biopharma: Separating Value from Hype,” on Feb. 27, 1pm ET along with Michael Nally, CEO of Generate: Biomedicines and Liz Schwarzbach, PhD, CBO of BigHat Biosciences.

The session will look at how the latest artificial intelligence (AI) tools – including generative AI and large language models – are currently being used to advance the discovery and design of new drugs, and which technologies are still in development. 

The BIO CEO & Investor Conference brings together over 1,000 attendees and more than 700 companies across industry and institutional investment to discuss the future investment landscape of biotechnology. Sessions focus on topics such as therapeutic advancements, market outlook, and policy priorities.

Insilico Medicine is a leading, clinical stage AI-driven drug discovery company that has raised over $400m in investments since it was founded in 2014. Dr. Kamya leads the development of the Company’s end-to-end generative AI platform, Pharma.AI from Insilico’s AI R&D Center in Montreal. Using modern machine learning techniques in the context of chemistry and biology, the platform has driven the discovery and design of 30+ new therapies, with five in clinical stages – for cancer, fibrosis, inflammatory bowel disease (IBD), and COVID-19. The Company’s lead drug, for the chronic, rare lung condition idiopathic pulmonary fibrosis, is the first AI-designed drug for an AI-discovered target to reach Phase II clinical trials with patients. Nine of the top 20 pharmaceutical companies have used Insilico’s AI platform to advance their programs, and the Company has a number of major strategic licensing deals around its AI-designed therapeutic assets, including with Sanofi, Exelixis and Menarini. 

 

About Insilico Medicine

Insilico Medicine, a global clinical stage biotechnology company powered by generative AI, is connecting biology, chemistry, and clinical trials analysis using next-generation AI systems. The company has developed AI platforms that utilize deep generative models, reinforcement learning, transformers, and other modern machine learning techniques for novel target discovery and the generation of novel molecular structures with desired properties. Insilico Medicine is developing breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, immunity, central nervous system diseases, infectious diseases, autoimmune diseases, and aging-related diseases. www.insilico.com 


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