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Why Biden/Harris Want Job Shortages and Inflation

“Government is a dangerous servant and a fearful master.” — George Washington (attributed) Last Friday, the government reported another disappointing jobs report. Joe Biden said that the tepid increase in jobs meant that the government needed…

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“Government is a dangerous servant and a fearful master.” — George Washington (attributed)

Last Friday, the government reported another disappointing jobs report. Joe Biden said that the tepid increase in jobs meant that the government needed to fund even more deficit spending.

I was on KitcoTV (Canada’s equivalent to CNBC) and told the host that the Biden administration has discovered a clever way to indirectly push through a $15 minimum wage — keep extending unemployment checks and thus force companies and employers to raise wages and bonuses to get people to go back to work.

The Biden administration also supports an expansionary fiscal and monetary policy that increases the demand for goods and services. Unions benefit the most. It is a brilliant political strategy.

The biggest downside is that job growth will stay below expectations and will result in stagflation. Even the Biden budget expects an economic growth rate of only 1.8%, much less than the pre-COVID-19 Trump years. But it is a trade-off Biden is willing to do to placate the unions.

Watch the interview here.

Where to invest during a period of resurging inflation and slow growth? I recommend both growth and income stocks, but the high-income “value” stocks and funds have clearly outperformed growth this year.

Our average position is up 22% year to date! For details about how to profit personally, click here.

I’ll be speaking at the Orlando MoneyShow this Thursday-Saturday and will be doing my special two-hour session on “Puzzles & Paradoxes in Money & the Economy,” based on my popular class at Chapman University. See you at The MoneyShow Orlando | June 10 – 12, 2021 | Event | Investment Conference.

The Most Profitable Investment You Can Make This Year

I met a long-time subscriber last month who told me how pleased he is with my recommendations over the years. “I’ve made a ton of money,” he said with a big smile, referring to my newsletter and trading services.

I asked him, “Tell me, have you ever used some of those profits to come to my big show, FreedomFest?”

He responded, “For years I heard about your show, how good it was. Well, finally I decided to go in 2019 when you had Kevin O’Leary and John Mackey debate the virtues of capitalism…and you interviewed Penn Gillette and Glenn Beck on stage. It was one thrill after another. I even made a big gain on an investment there. It’s the most rewarding, profiting and fun conference I’ve ever been to, and I kicked myself for not going sooner.”

He will be attending again next month in South Dakota.

My staff tells me that hundreds of people are coming to this year’s conference for the first time and are going to turn the trip into a family vacation. South Dakota is a hot destination.

If you have not been to FreedomFest, don’t procrastinate anymore! Come join us this year and see what you have been missing.

Next month’s FreedomFest, July 21-24, will be special for my subscribers. We are having a private meeting and a most memorable reunion to celebrate 41 years of Forecasts & Strategies. The subscribers who attend will receive a 2021 silver dollar and an autographed copy of “The Maxims of Wall Street.” Plus, I will share with those attendees the name and symbol of a penny stock that could triple in value in 2021. They will also be able to meet with top investment gurus like Jim Woods, Alex Green, Jeff Phillips, Adrian Day, Rob Arnott and many more.

However, you must be there in person to take advantage.

More Good News

I’m excited to announce that Larry Arnn, the fiery president of Hillsdale College, has just confirmed that he will be a keynote speaker at this year’s FreedomFest in Rapid City, South Dakota. It took me 10 years to get him.

Dr. Arnn has faith in both God and man. He defied the governor of Michigan and went ahead with Hillsdale’s in-person graduation ceremonies last June. More than 2,600 students and family members showed up. The college took every precaution to make the event safe, and they succeeded. Nobody came down with COVID-19.

Your editor visiting Larry Arnn in his Hillsdale office in 2019.

In defense of the First Amendment right to the freedom of peaceful assembly, Arnn stated, “Since 1856, the college has exercised those rights by holding annual commencement exercises — including during the Civil War, World War I, the 1918 Pandemic, the Great Depression and World War II.”

It was gutsy for Hillsdale to do its graduation in 1918, and the administration pulled it off again in 2020.

Dr. Arnn has agreed to tell us the whole story at our FreedomFest conference, July 21-24, 2021. He also will talk about “The 1776 Project,” which he leads. Hope to see you there.

We’re adding 50 new registrations every week. We already have more than 2,200 attendees signed up. We expect a record turnout and could sell out.

We just added a new group of hotel room blocks, so I recommend you act now to avoid being disappointed.

We also just posted the full schedule with all 250 speakers, panels and debates. Go to 2021 Agenda – FreedomFest.

Take advantage now of the “greatest libertarian show on earth” by signing up at www.freedomfest.com, or by calling Hayley at 1-855-850-3733, ext. 202. Use the code EAGLE50 to get $50 off the registration fee.

Good investing, AEIOU

Mark Skousen

You Nailed It!

Latinos Vote for Free-Market Capitalism!

A few years ago, a Gallup poll showed that a majority of college students and young millennials favored socialism over capitalism. It was a wake-up call among free-market think tanks and freedom organizations to do a better job of making their case for economic freedom.

I’ve been doing my part by giving talks on college campuses to reverse the trend, “What’s better than Democratic Socialism? Democratic Capitalism!” Check out the following:

How to Get Rid of a Bad Idea (Democratic Socialism) and My Secret Plan to Convert Students to Free-Market Economics and Sound Investing.

But now things are changing.

A survey in 2021 asked Latinos to choose between two statements. The first was unadulterated Milton Friedman: “Some people say free-market capitalism is the best form of government because it gives people the freedom to work and achieve.”

The second was what we might call the Alexandria Ocasio-Cortez option, “Other people say that socialism is the best form of government because it is fairer and more equitable to working-class people.”

Almost two-thirds, 63%, of Latino respondents opted for the Friedman position, against only 17% for the AOC line! Source:  More Latinos Bid ‘Adios’ to Democrats – The Wall Street Journal

I hope this is a new positive trend.

The post Why Biden/Harris Want Job Shortages and Inflation appeared first on Stock Investor.

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Spread & Containment

AstraZeneca antibody cocktail fails to prevent Covid-19 symptoms in large trial

AstraZeneca said a late-stage trial failed to provide evidence that the company’s Covid-19 antibody therapy protected people who had contact with an infected person from the disease, a small setback in its efforts to find alternatives to vaccines.

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Astra antibody cocktail fails to prevent COVID-19 symptoms in large trial

(Reuters; )

June 15 (Reuters) – AstraZeneca (AZN.L) said on Tuesday a late-stage trial failed to provide evidence that its COVID-19 antibody therapy protected people who had contact with an infected person from the disease, a small setback in its efforts to find alternatives to vaccines.

The study assessed whether the therapy, a cocktail of two types of antibodies, could prevent adults who had been exposed to the virus in the past eight days from developing COVID-19 symptoms.

The therapy, AZD7442, was 33% effective in reducing the risk of people developing symptoms compared with a placebo, but that result was not statistically significant — meaning it might have been due to chance and not the therapy.

The Phase III study, which has not been peer reviewed, included 1,121 participants in the United Kingdom and the United States. The vast majority, though not all, were free of the virus at the start of the trial.

Results for a subset of participants who were not infected to begin with was more encouraging but the primary analysis rested on results from all participants.

FILE PHOTO: A computer image created by Nexu Science Communication together with Trinity College in Dublin, shows a model structurally representative of a betacoronavirus which is the type of virus linked to COVID-19, better known as the coronavirus linked to the Wuhan outbreak, shared with Reuters on February 18, 2020. NEXU Science Communication/via REUTERS

“While this trial did not meet the primary endpoint against symptomatic illness, we are encouraged by the protection seen in the PCR negative participants following treatment with AZD7442,” AstraZeneca Executive Vice President Mene Pangalos said in a statement.

The company is banking on further studies to revive the product’s fortunes. Five more trials are ongoing, testing the antibody cocktail as treatment or in prevention.

The next one will likely be from a larger trial testing the product in people with a weakened immune system due to cancer or an organ transplant, who may not benefit from a vaccine.

TARGETED ALTERNATIVES

AZD7442 belongs to a class of drugs called monoclonal antibodies which mimic natural antibodies produced by the body to fight off infections.

Similar therapies developed by rivals Regeneron (REGN.O) and Eli Lilly (LLY.N) have been approved by U.S. regulators for treating unhospitalised COVID patients.

European regulators have also authorised Regeneron’s therapy and are reviewing those developed by partners GlaxoSmithKline (GSK.L) and Vir Biotechnology (VIR.O) as well as by Lilly and Celltrion (068270.KS).

Regeneron is also seeking U.S. authorisation for its therapy as a preventative treatment.

But the AstraZeneca results are a small blow for the drug industry as it tries to find more targeted alternatives to COVID-19 inoculations, particularly for people who may not be able to get vaccinated or those who may have an inadequate response to inoculations.

The Anglo-Swedish drugmaker, which has faced a rollercoaster of challenges with the rollout of its COVID-19 vaccine, is also developing new treatments and repurposing existing drugs to fight the virus.

AstraZeneca also said on Tuesday it was in talks with the U.S. government on “next steps” regarding a $205 million deal to supply up to 500,000 doses of AZD7442. Swiss manufacturer Lonza (LONN.S) was contracted to produce AZD7442.

Shares in the company were largely unchanged on the London Stock Exchange.

The full results will be submitted for publication in a peer-reviewed medical journal, the company said.

Reporting by Vishwadha Chander in Bengaluru; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/astrazeneca-says-its-antibody-treatment-failed-in-preventing-covid-19-exposed-2021-06-15

 

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Government

Former FDA Head Takes on Exec Role at Flagship’s Preemptive Health Initiative

Stephen Hahn, the Commissioner of the U.S. Food and Drug Administration under former President Donald Trump, took on a new role as chief medical officer of a new health security initiative launched by Flagship Pioneering, a life sciences venture firm…

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Former FDA Head Takes on Exec Role at Flagship’s Preemptive Health Initiative

 

Stephen Hahn, the Commissioner of the U.S. Food and Drug Administration (FDA) under former President Donald Trump, has taken on a new role as chief medical officer of a new health security initiative launched by Flagship Pioneering, a life sciences venture firm that incubates and curates biopharma companies.

First announced Monday, Flagship’s Preemptive Medicine and Health Security initiative aimed at developing products that can help people before they get sick. This division will focus on infectious disease threats and pursue bold treatments for existing diseases, including cancer, obesity, and neurodegeneration. 

In a brief statement, Hahn, who served as commissioner from December 2019 until January 2021, said the importance of investing in innovation and preemptive medications has never been more apparent. 

“In my career I have been a doctor and a researcher foremost and it is an honor to join Flagship Pioneering in its efforts to prioritize innovation, particularly in its Preemptive Medicine and Health Security Initiative. The more we can embrace a “what if …” approach the better we can support and protect the health and well-being of people here in the U.S. and around the world,” Hahn said in a statement. 

During his time at the FDA, Hahn was at the forefront of the government’s effort to battle the COVID-19 pandemic. His office oversaw the regulatory authorization of antivirals, antibody therapeutics and vaccines, as well as diagnostics and other tools to battle the novel coronavirus. 

Kevin Dietsch-Pool/Getty Images

Hahn bore the brunt of verbal barbs aimed at the FDA by the former president for not rushing to authorize a vaccine for COVID-19 ahead of the November 2020 election. The second vaccine authorized by the FDA for COVID-19 was developed by Moderna, a Flagship company. 

Prior to his confirmation as FDA Commissioner, Hahn, a well-respected oncologist, served as chief medical executive of the vaunted The University of Texas MD Anderson Cancer Center. Hahn was named deputy president and chief operating officer in 2017. In that role, he was responsible for the day-to-day operations of the cancer center, which includes managing more than 21,000 employees and a $5.2 billion operating budget. He was promoted to that position two years after joining MD Anderson as division head, department chair and professor of Radiation Oncology. Prior to MD Anderson, Hahn served as head of the radiation oncology department at the University of Pennsylvania’s Perelman School of Medicine.

Flagship Founder and Chief Executive Officer Noubar Afeyan said the COVID-19 pandemic that shut down economies and caused the deaths of more than 3.8 million people across the world was an important reminder that health security is a top global priority. In addition, the ongoing pandemic brings into “stark focus” the importance of preemptive medications. 

Hahn, who helmed the FDA for three years and before that served as chief medical executive at The University of Texas MD Anderson Cancer Center, has extensive experience overseeing clinical and administrative programs. Afeyan said the new division would benefit from Hahn’s experience as FDA Commissioner and help steer the Preemptive Medicine and Health Security initiative as it explores Flagship’s “growing number of explorations and companies in this emerging field.”

It is not unusual for former FDA heads to take prominent roles with companies. For example, former FDA Commissioner Scott Gottlieb, Trump’s first FDA Commissioner, took a position on the Pfizer Board of Directors weeks after departing his government role. He has also taken positions on other boards since then, including Aetion, FasterCures and Illumina.

 

BioSpace source:

https://www.biospace.com/article/former-fda-head-stephen-hahn-takes-cmo-role-at-flagship-pioneering-preemptive-health-initiative-

 

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Government

Five U.S. states had coronavirus infections even before first reported cases – study

At least seven people in five U.S. states were infected with the novel coronavirus weeks before those states reported their first cases, a new government study showed.

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Five U.S. states had coronavirus infections even before first reported cases – study

(Reuters) – At least seven people in five U.S. states were infected with the novel coronavirus weeks before those states reported their first cases, a new government study showed.

Participants who reported antibodies against SARS-CoV-2 were likely exposed to the virus at least several weeks before their sample was taken, as the antibodies do not appear until about two weeks after a person has been infected, the researchers said.

The latest results build on findings from a Centers for Disease Control and Prevention study that suggested the novel coronavirus may have been circulating in the United States last December, well before the first COVID-19 case was diagnosed on Jan. 19, 2020.

A protective face mask lays, as the global outbreak of the coronavirus disease (COVID-19) continues, beside leaves at the lakefront in Chicago, Illinois, U.S., December 6, 2020. REUTERS/Shannon/File Photo

The positive samples came from Illinois, Massachusetts, Mississippi, Pennsylvania and Wisconsin, and were part of a study of more than 24,000 blood samples taken for a National Institutes of Health research program between Jan. 2 and March 18, 2020.

Samples from participants in Illinois were collected on Jan. 7 and Massachusetts on Jan. 8, suggesting that the virus was present in those states as early as late December.

“This study allows us to uncover more information about the beginning of the U.S. epidemic,” said Josh Denny, one of the study authors.

The findings were published in the journal Clinical Infectious Diseases.

Reporting by Mrinalika Roy in Bengaluru; Editing by Anil D’Silva

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/five-us-states-had-coronavirus-infections-even-before-first-reported-cases-study-2021-06-15

 

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