The Self-Fulfilling Prophecy of ‘School Hesitancy’


protest

As the 2020-21 school year wheezes toward expiration, a foul new public policy term has arisen to meet our fallen moment.

“Experts have coined the term ‘school hesitancy’ to describe the remarkably durable resistance to a return to traditional learning,” The New York Times reported over the weekend. “More than [one-]third of fourth- and eighth-graders, and an even larger group of high school students,” are still learning remote-only, the paper found. “A majority of Black, Hispanic and Asian-American students remain out of school.”

Teachers unions and their apologists are fond of portraying this reluctance as largely an exercise of choice by minority parents who have understandable mistrust of their system’s dedication to safety.

“The real issue now is how are we going to get parents to trust that schools are safe so that they send their kids back to in-person,” American Federation of Teachers President Randi Weingarten tweeted last week.

“NYC schools are open,” New York Times education reporter Eliza Shapiro tweeted inaccurately last week, attempting to fact-check an Andrew Yang campaign advertisement. “The issue [is] that ~600K parents have decided to keep their kids learning from home. Getting those parents back is the actual challenge here.”

As Weingarten and Shapiro know full well (and are reminded of every time they post misleading stuff like this), the decision to keep kids home is not an expressed preference between the binary choices of fully remote and fully in-person instruction. My 7th grader attends school twice a week, and almost never on those days has a live teacher each period. (The kids have been sent outside to “play on their phones” more times than I can remember.) Other middle schoolers and high schoolers, after spending most of the year distance learning, were offered the non-enticing prospect of spending the waning months of a wasted school year going half-time into a classroom where they could all receive instruction by a remote teacher via Zoom.

This unattractive hybrid model is the inevitable result of granting huge swaths of teachers—28 percent in New York City—medical exemptions to work remotely through the end of the school year, regardless of proximity to vaccines. (New York, after having put teachers in front of the line, is now dangling subway passes and entertainment tickets to lure vaccination laggards, and offering shots to nonresidents.)

The more teachers unions exert power over a school district and local political machine, the more that “open” schools equal “Zoom-in-a-room,” the more parents opt out, the more teachers unions attribute the high opt-out numbers to parental preference. It’s a vicious, intelligence-insulting cycle, one that could be significantly broken by fully reopening schools.

“Whether one’s school has reopened,” a detailed American Enterprise Institute study by Vladimir Kogan found last month, “turns out to be the single best predictor of whether parents are willing to send their children back.” Not the rate or trajectory of COVID-19 impact, not the level of historical distrust between communities and schools, but whether local leadership has said unambiguously that it’s safe to come back. “Controlling for local school reopening status greatly attenuates the racial gaps in the observed preferences for online learning,” Kogan wrote.

Conclusion? “Protracted school closures have created a self-reinforcing policy feedback loop, reducing support for resuming in-person learning. Since these closures have been concentrated in large urban school districts, this may have directly contributed to racial disparities in support for reopening schools.”

Educators in slowly reopening districts could react to such findings by hurrying to open doors and spread the good news that schools are among the safest places for people to be. (The seven-day positivity rate among randomly tested New York City schools at the moment is 0.26 percent, or, 1 out of every 380 people.) Instead of that, 14 months after schools first closed, some in leadership positions continue to spread the dangerous fiction that schools are disease-vector deathtraps being pushed to reopen by racists.

On May 1, the Keep NYC Schools Open coalition held a rally in East Harlem attended by mayoral candidates Andrew Yang and Kathryn Garcia. They were greeted by a counter-protest, featuring teachers wearing sashes that read, “We will not die for DOE” (the latter meaning Department of Education).

It’s bad enough that people who have had access to COVID vaccines for several months, and who ostensibly teach subjects like math and science, would spread the pernicious myth that public school buildings are incubators of death. (The accumulated pandemic body count of kids under 18 is still under 300.)

Worse still, the counter-demonstration was organized in part by neuroscientist Kaliris Salas-Ramirez, who is president of her local Community Education Council (CEC). In New York, CECs are advisory bodies that have real decision-making power at the school district level.

And here is what Salas-Ramirez had to say about the school-opening rally she was protesting: “What we saw at the field on Saturday is white supremacy at its best…. These folks are coming into the neighborhood who are not from the neighborhood; they don’t have to worry about going into the hospital and having ICE come pick them up.”

This kind of poisonous rhetoric, while cuckoo-bananas on its face, is nonetheless routine in reopening debates, and not just in New York. Gee, I wonder what message Harlem public school parents glean from teachers who warn about corpses and education leaders who call reopening racist?

There will come a day when these fights will look like science fiction, even in big Democratic-controlled cities. But that day will probably not come this September. As the school-reopening tracker Burbio put it Sunday:

There are concrete announcements about traditional learning next Fall. There are vague or even what sound like conflicting approaches to virtual learning and no announced plans around the mechanics of delivery. Large percentages of students are opting out of in-person. Learning plans offered across schools vary widely, often with a pronounced demographic or economic skew, and do not closely resemble what a pre-Covid 19 school day would look like. Safety precautions in place in the district appear to exceed the CDC guidelines in an effort to get stakeholders comfortable with the classroom experience. In some cases students are supervised but there are no teachers in the classroom. While there is momentum to bring students into the classroom, all these factors suggest there are considerable obstacles that have not been addressed.

So what will parents do? Increasingly, they will choose non-public options. Hesitancy may have less to do with schooling, and more to do with who is providing it.

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He Was Executed for Murder. New DNA Evidence Implicates Someone Else.


bb

“I’m not going to say I have come to terms with the state trying to take my life,” Ledell Lee told the BBC in 2017, as his execution date neared. “Because I have not, nor will I ever come to terms.”

Lee is now gone: The state of Arkansas killed him on April 20, 2017, for his alleged role in the 1993 murder of Debra Reese. And now DNA evidence found on the murder weapon implicates a different man.

Bafflingly, that evidence—located on a blood-spattered white shirt and wooden club, the latter of which was used to beat Reese to death—was not tested before the trial.

“At least two of the witnesses who testified failed to identify Lee either in a police lineup or at the trial,” wrote Zuri Davis for Reason in 2020. “Meanwhile, Lee had to contend with deeply inadequate court-appointed lawyers. One was struggling with addiction, another eventually surrendered his license after suffering from mental illness, others had conflicts of interest, and all of them failed to investigate his claim of innocence. Though prosecutors used merely circumstantial evidence to tie him to the murder, Lee’s lawyers did not consult with forensics experts and never even asked for DNA testing.”

After the guilty verdict came down against Lee, that changed. Lawyers for the Innocence Project and the American Civil Liberties Union (ACLU) sought several times to test that evidence. But Republican Gov. Asa Hutchinson pushed to expedite the proceedings, as the doses were running up against their expiration date.

“It’s my duty to carry out the law,” said Hutchison last week. “The fact is that the jury found him guilty based upon the information that they had.”

Reese was murdered in Jacksonville, Arkansas, shortly after calling her mother to tell her that a black man had knocked on her door to ask for tools. She was found dead shortly afterward, bludgeoned with the club and left on the floor of her home, her body partially covered by a rug when police came.

Lee was arrested two days later. Two tiny blood samples gathered on his shoes were inconclusive; a sample found on his jacket came back negative for both his and Reese’s DNA. The state omitted the second and introduced the former, notwithstanding the fact that investigators could not even derive a blood type from the minuscule samples.

The evidence gathered by the ACLU and the Innocent Project both point to the same male. It doesn’t match a sample yet recorded on the national criminal database, so it is not clear who that person is. But one thing is clear: It isn’t Ledell Lee.

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He Was Executed for Murder. New DNA Evidence Implicates Someone Else.


bb

“I’m not going to say I have come to terms with the state trying to take my life,” Ledell Lee told the BBC in 2017, as his execution date neared. “Because I have not, nor will I ever come to terms.”

Lee is now gone: The state of Arkansas killed him on April 20, 2017, for his alleged role in the 1993 murder of Debra Reese. And now DNA evidence found on the murder weapon implicates a different man.

Bafflingly, that evidence—located on a blood-spattered white shirt and wooden club, the latter of which was used to beat Reese to death—was not tested before the trial.

“At least two of the witnesses who testified failed to identify Lee either in a police lineup or at the trial,” wrote Zuri Davis for Reason in 2020. “Meanwhile, Lee had to contend with deeply inadequate court-appointed lawyers. One was struggling with addiction, another eventually surrendered his license after suffering from mental illness, others had conflicts of interest, and all of them failed to investigate his claim of innocence. Though prosecutors used merely circumstantial evidence to tie him to the murder, Lee’s lawyers did not consult with forensics experts and never even asked for DNA testing.”

After the guilty verdict came down against Lee, that changed. Lawyers for the Innocence Project and the American Civil Liberties Union (ACLU) sought several times to test that evidence. But Republican Gov. Asa Hutchinson pushed to expedite the proceedings, as the doses were running up against their expiration date.

“It’s my duty to carry out the law,” said Hutchison last week. “The fact is that the jury found him guilty based upon the information that they had.”

Reese was murdered in Jacksonville, Arkansas, shortly after calling her mother to tell her that a black man had knocked on her door to ask for tools. She was found dead shortly afterward, bludgeoned with the club and left on the floor of her home, her body partially covered by a rug when police came.

Lee was arrested two days later. Two tiny blood samples gathered on his shoes were inconclusive; a sample found on his jacket came back negative for both his and Reese’s DNA. The state omitted the second and introduced the former, notwithstanding the fact that investigators could not even derive a blood type from the minuscule samples.

The evidence gathered by the ACLU and the Innocent Project both point to the same male. It doesn’t match a sample yet recorded on the national criminal database, so it is not clear who that person is. But one thing is clear: It isn’t Ledell Lee.

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“Leadership Is Shifting”: Goldman Says Business Sentiment, Job Growth And QE Have Peaked – What Happens Next

“Leadership Is Shifting”: Goldman Says Business Sentiment, Job Growth And QE Have Peaked – What Happens Next

Two weeks after Goldman speculated that this market was “as good as it gets” when it joined other big banks – such as Deutsche Bank, Morgan Stanley and JPMorgan – in turning bearish and warning of a market drop in the coming months, the bank has doubled down and as Goldman strategist Chris Hussey writes, after an April of ‘regular way’ trading, “the S&P 500 reverted to it pro-cyclical tilt that we have seen for the majority of the year with mega-cap Tech actually losing ground on the week at the same time that Industrials, Financials, and Energy stocks posted notable gains.”

What is even more interesting is that the rotation chose last week to resume (as confirmed by Modnay’s even more dismal action) with a vengeance given three pieces of news that seemingly work against the pro-cyclical trade:

  • Business sentiment may have peaked. We started the week with a notable down-tick in the ISM Manufacturing index to 60.7 from 64.7

  • QE may have peaked. The move also came at the same time as the first major.central bank — the BoE — surprisingly reduced its QE program — signaling a turning point in UK monetary policy. Meanwhile, as BofA’s Michael Hartnett calculates, the big 4 central banks’ QE is set to fall from $8.5tn in ‘20 to $3.4tn in ‘21 to just $0.4tn in ’22, and in Q2/Q3 “the stronger the macro the quicker & bigger the taper.”

  • Job growth may have peaked. We finishing last week with a very surprisingly disappointing April Payrolls report which showed only 266k net new jobs were created against expectations for an increase of 1 million jobs or more. The unemployment rate also bumped up to 6.1% (because more people are now looking for work) and average hourly earnings grew by 0.7% mom versus consensus expectations (at least among economists) for no growth (as not enough low-paying jobs were created).

Yet potentially peaking growth and signs of an end to low central bank-enabled interest rates was apparently no obstacle to leaning further into stocks that should benefit from a post-pandemic growth phase. Well, in retrospect that’s not very surprising – the market lost its ability to discount the future a few months into QE1 when the Fed would simply step in any time there were “market conditions” in the market, i.e., more sellers than buyers.

Then again, on the flip side of the procyclical trade sits mega-cap Tech with 3 of the 5 FAAMG stocks declining in value last week led by a 4%+ drop in AMZN, a drop which continued for another 3% on Monday, and pushing the stock into a deep correction from its all time highs just over a week earlier when the company reported blow out earnings. Not even today’s announcement that Amazon would sell $18.5BN in bonds to repurchase stock did anything to boost the share price.

Picking up on this theme, on Monday afternoon Goldman’s chief economist Jan Hatzius also offered a somewhat downbeat assessment of market conditions, writing that the bank’s biggest call for 2021 has been its US growth forecast, which stood about 2% above the Bloomberg consensus for much of the past year.  However, over the last few months, the gap has shrunk as many private and official forecasters have upgraded their numbers on the back of rapid vaccinations, easier US fiscal policy and—until recently—stronger data. 

More importantly, the latest news fits the narrative of shifting growth leadership. The European health situation has begun to improve sharply, with surging vaccinations and declining new infections. The PMIs continue to rise, and Goldman expects GDP growth “to accelerate to 13% on a quarter-on-quarter annualized basis in Q3. And there is plenty of spare capacity that should be relatively easy to fill in, especially in the service sector. “

All this means that the continent is well-placed for a period of substantially above-trend growth if the path of the virus in coming months resembles what we have seen in other economies with successful vaccination programs, with the UK perhaps the most relevant example.

By contrast, and in keeping with the them of changing leadership, the US has stopped beating expectations, and the daily pace of vaccinations has fallen from 3.4 million in mid-April to 2 million now.  Meanwhile, activity indicators have started to come in on the softer side, not only because of Friday’s disappointing jobs report but also because both ISM surveys fell in April, albeit to still-high levels of above 60. This is consistent with Goldman previously noted view that GDP growth is set to peak in Q2 at 10½% on a quarter-on-quarter annualized basis, with gradual deceleration in subsequent quarters. On a monthly basis, March currently looks likely to be peak for Goldman’s current activity indicator (CAI), although this could still shift to sometime in Q

Curiously, here Goldman is quick to dismiss Friday’s ugly NFP print, saying “it looks inconsistent” with other timely indicators of labor demand and spending, including jobless claims, ISM services employment, and Goldman’s high-frequency measures of retail sales and service sector activity

Why Goldman’s jobs complacency? Two reasons:

  • First, employers might be prioritizing post-pandemic hiring over the seasonal hiring which normally takes place in the spring and which is incorporated in the Labor Department’s seasonal adjustment process (note that payrolls did grow nearly 1.1million on a seasonally unadjusted basis).
  • Second, the $300/week unemployment benefit top-up is keeping the replacement ratio—total unemployment benefits as a percentage of take-home pay—above 100% in low-wage industries. Elevated job vacancies, elevated quit rates, continued strength in wages, and many anecdotes suggest that the top-up is making it more difficult to fill open positions than one wouldexpect at a 6.1% unemployment rate.

Combining these two points, Goldman concludes that both factors should be temporary: first, if seasonal hiring is lower than assumed in the seasonal factors in the spring, seasonal layoffs will also be lower than assumed in the fall, boosting seasonally adjusted job growth. Second, the $300/week top-up is scheduled to expire in early September, and some Republican – dominated states are already scrapping it. Together with continued health improvement— Goldman still thinks 70-80% of the US population will have immunity to covid by the fall – and a close-to-normal 2021-2022 school year that makes it much easier for parents to work, will help labor supply recover starting in the fall. This should result in stronger payroll gains as well as a reduction in wage pressures

Hand in hand with the projection for stronger payrolls gains, is Goldman expectation of renewed downward inflation pressure as the bank’s trimmed-mean index still shows benign underlying inflation trends, the temporary boosts gradually wane, and healthcare costs—a key component of the core PCE index—slow more notably on the back of the expiration of the covid-related payments to medical providers.

The bank therefore is comfortable with its forecast that core PCEinflation will return to about 2% by the end of 2021, which should likewise keep Fed officials comfortable with a tapering schedule that starts in Q1 and runs for about a year (in short, the market is freaking out that in 7 month the Fed’s liquidity injections will decline from $120BN to… $100BN.(The horror). Rate hikes become a live option during 2023, although we think the economic data will push liftoff into 2024.

Putting this all together, from a market perspective Goldman’s forecasts limited inflation risk and dovish monetary policy — with Fed tapering starting in early 2022 and Fed hikes starting in early 2024—are now at least as important as the remaining gap in US growth forecasts.

Looking forward, Goldman’s strongest market views take their cue from the broadening of the global recovery. The bank’s commodity strategists have been vocal about their positive views on oil and copper, while FX strategists have expressed renewed confidence in a meaningful euro appreciation and a return to broad dollar weakness over the balance of the year. In rates, Goldman still thinks the market prices the first Fed hike too early but we view back-end real yields astoo low, with a 5-year 5-year forward TIPS yield of just 0.1%. In credit, valuations are elevated but nevertheless retain a down-in-quality bias, as economic forecasts should support corporate cash flows and central banks remain highly supportive. And similarly, the equity market has taken a good amount of creditfor the economic improvement but still see further upside in both DM and EM marketsgiven the ongoing global expansion and the friendly policy environment.

Tyler Durden
Mon, 05/10/2021 – 17:10

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A Phase 3 Clinical Trial Confirms MDMA’s Effectiveness As a Psychotherapeutic Catalyst


MDMA-capsules-MAPS

MDMA-assisted psychotherapy for people with post-traumatic stress disorder (PTSD) is substantially more effective than psychotherapy alone, according to a study reported today in Nature Medicine. The results of the Phase 3 clinical trial, which are consistent with earlier research, mean that MDMA, which was banned in 1985, is on track to be approved as a prescription drug by the Food and Drug Administration (FDA) as soon as 2023.

“These data indicate that, compared with manualized therapy with inactive placebo, MDMA-assisted therapy is highly efficacious in individuals with severe PTSD, and treatment is safe and well-tolerated, even in those with comorbidities,” say University of California, San Francisco, neuroscientist Jennifer Mitchell and her co-authors. “We conclude that MDMA-assisted therapy represents a potential breakthrough treatment that merits expedited clinical evaluation.”

The FDA officially recognized MDMA as a “breakthrough therapy” in 2017, meaning it “may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints.” That designation signaled that the FDA would expedite development and approval of MDMA.

The double-blind, placebo-controlled trial, which was sponsored by the Multidisciplinary Association for Psychedelic Studies (MAPS), confirms MDMA’s potential. The study included 90 subjects with “severe” PTSD who were randomly assigned to receive either MDMA or a placebo on three occasions. All of them participated in three preparatory sessions and nine “integrative therapy sessions.”

In the MDMA group, scores on the Clinician-Administered PTSD Scale for DSM-5 had fallen by an average of 24.4 points 18 weeks after the study began, compared to 13.9 points in the placebo group. “Functional impairment” based on the Sheehan Disability Scale fell by an average of more than three points in the MDMA group and two points in the placebo group. The subjects who received MDMA also showed bigger improvements in mood as measured by the Beck Depression Inventory II. Their scores dropped by an average of nearly 20 points, compared to about 11 points in the placebo group.

“Three doses of MDMA given in conjunction with manualized therapy over the course of 18 weeks results in a significant and robust attenuation of PTSD symptoms and functional impairment,” Mitchell et al. note. “MDMA also significantly mitigated depressive symptoms.”

These results are striking but not surprising; psychotherapists have long observed similar effects. As the authors of an earlier MAPS-sponsored study put it, MDMA-assisted therapy is “aimed at allowing participants to revisit traumatic experiences while staying emotionally engaged even during intense feelings of anxiety, pain, or grief without feeling overwhelmed.”

Mitchell et al. suggest that “MDMA may exert its therapeutic effects through a well-conserved mechanism of amygdalar serotonergic function that regulates fear-based behaviors and contributes to the maintenance of PTSD.” They say MDMA “may facilitate the processing and release of particularly intractable, potentially developmental, fear-related memories,” perhaps “by reopening an oxytocin-dependent critical period of neuroplasticity that typically closes after adolescence.”

The researchers hypothesize that “the pharmacological properties of MDMA, when combined with therapy, may produce a ‘window of tolerance,’ in which participants are able to revisit and process traumatic content without becoming overwhelmed or encumbered by hyperarousal and dissociative symptoms.” The aim is to “facilitate recall of negative or threatening memories with greater self-compassion and less PTSD-related shame and anger.” That process seems to be enhanced by “the acute prosocial and interpersonal effects of MDMA,” which “may support the quality of the therapeutic alliance, a potentially important factor relating to PTSD treatment adherence and outcome.”

Last year Reason‘s Nick Gillespie interviewed MAPS founder Rick Doblin, a co-author of the new study. “Although MAPS is doing everything by the book in seeking approval of MDMA as a prescription drug, Doblin’s vision goes beyond such doctor-approved uses,” Gillespie noted. “He aspires to a world in which people can use psychedelics responsibly without permission from physicians or priests.”

Doblin does not accept the idea that psychoactive substances are inherently good or bad. “Psychedelics are tools,” he said. “They’re not good or bad in and of themselves. It’s how they are used. It’s the relationship you have with them.” He argued that “people should have the fundamental human right to change their consciousness.”

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A Phase 3 Clinical Trial Confirms MDMA’s Effectiveness As a Psychotherapeutic Catalyst


MDMA-capsules-MAPS

MDMA-assisted psychotherapy for people with post-traumatic stress disorder (PTSD) is substantially more effective than psychotherapy alone, according to a study reported today in Nature Medicine. The results of the Phase 3 clinical trial, which are consistent with earlier research, mean that MDMA, which was banned in 1985, is on track to be approved as a prescription drug by the Food and Drug Administration (FDA) as soon as 2023.

“These data indicate that, compared with manualized therapy with inactive placebo, MDMA-assisted therapy is highly efficacious in individuals with severe PTSD, and treatment is safe and well-tolerated, even in those with comorbidities,” say University of California, San Francisco, neuroscientist Jennifer Mitchell and her co-authors. “We conclude that MDMA-assisted therapy represents a potential breakthrough treatment that merits expedited clinical evaluation.”

The FDA officially recognized MDMA as a “breakthrough therapy” in 2017, meaning it “may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints.” That designation signaled that the FDA would expedite development and approval of MDMA.

The double-blind, placebo-controlled trial, which was sponsored by the Multidisciplinary Association for Psychedelic Studies (MAPS), confirms MDMA’s potential. The study included 90 subjects with “severe” PTSD who were randomly assigned to receive either MDMA or a placebo on three occasions. All of them participated in three preparatory sessions and nine “integrative therapy sessions.”

In the MDMA group, scores on the Clinician-Administered PTSD Scale for DSM-5 had fallen by an average of 24.4 points 18 weeks after the study began, compared to 13.9 points in the placebo group. “Functional impairment” based on the Sheehan Disability Scale fell by an average of more than three points in the MDMA group and two points in the placebo group. The subjects who received MDMA also showed bigger improvements in mood as measured by the Beck Depression Inventory II. Their scores dropped by an average of nearly 20 points, compared to about 11 points in the placebo group.

“Three doses of MDMA given in conjunction with manualized therapy over the course of 18 weeks results in a significant and robust attenuation of PTSD symptoms and functional impairment,” Mitchell et al. note. “MDMA also significantly mitigated depressive symptoms.”

These results are striking but not surprising; psychotherapists have long observed similar effects. As the authors of an earlier MAPS-sponsored study put it, MDMA-assisted therapy is “aimed at allowing participants to revisit traumatic experiences while staying emotionally engaged even during intense feelings of anxiety, pain, or grief without feeling overwhelmed.”

Mitchell et al. suggest that “MDMA may exert its therapeutic effects through a well-conserved mechanism of amygdalar serotonergic function that regulates fear-based behaviors and contributes to the maintenance of PTSD.” They say MDMA “may facilitate the processing and release of particularly intractable, potentially developmental, fear-related memories,” perhaps “by reopening an oxytocin-dependent critical period of neuroplasticity that typically closes after adolescence.”

The researchers hypothesize that “the pharmacological properties of MDMA, when combined with therapy, may produce a ‘window of tolerance,’ in which participants are able to revisit and process traumatic content without becoming overwhelmed or encumbered by hyperarousal and dissociative symptoms.” The aim is to “facilitate recall of negative or threatening memories with greater self-compassion and less PTSD-related shame and anger.” That process seems to be enhanced by “the acute prosocial and interpersonal effects of MDMA,” which “may support the quality of the therapeutic alliance, a potentially important factor relating to PTSD treatment adherence and outcome.”

Last year Reason‘s Nick Gillespie interviewed MAPS founder Rick Doblin, a co-author of the new study. “Although MAPS is doing everything by the book in seeking approval of MDMA as a prescription drug, Doblin’s vision goes beyond such doctor-approved uses,” Gillespie noted. “He aspires to a world in which people can use psychedelics responsibly without permission from physicians or priests.”

Doblin does not accept the idea that psychoactive substances are inherently good or bad. “Psychedelics are tools,” he said. “They’re not good or bad in and of themselves. It’s how they are used. It’s the relationship you have with them.” He argued that “people should have the fundamental human right to change their consciousness.”

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Tropical Storm Andres Forms In Pacific, Earliest On Record; Expect Another Busy Atlantic Hurricane Season 

Tropical Storm Andres Forms In Pacific, Earliest On Record; Expect Another Busy Atlantic Hurricane Season 

Tropical Storm Andres is the earliest named storm to develop in the eastern Pacific Ocean, surpassing Adrian in 2017. Andres became a tropical storm on Sunday, according to the National Weather Service.

Andres formed off the southwest coast of Mexico Sunday, had sustained winds of 40 mph and moved out to sea at six mph. 

“Increasing southwesterly to westerly shear and drier air to the west of the cyclone should prevent any significant additional strengthening,” the National Hurricane Center said Sunday.

Meteorologist Phil Klotzbach from Colorado State University said, “Andres is the earliest calendar year eastern tropical Pacific (to 140°W) named storm formation on record, breaking the old record of May 10 set by Adrian in 2017.”

The official start of the eastern Pacific hurricane season is May 15. The Pacific is not the only ocean basin expected to observe increasing tropical activity this year. Another above-average Atlantic hurricane season is expected. The season starts on June 1. 

Klotzbach expects there will be 17 named storms in the Atlantic – eight becoming hurricanes. 

Refinitiv’s commodity desk provides a more in-depth view of the 2021 hurricane season, only to say it will be the 6th consecutive season of above-normal tropical activity in the Atlantic: 

  • The 2020 Atlantic hurricane season ended up being hyperactive, with significant impacts on oil operations in the Gulf of Mexico as well as devastation in Nicaragua
  • 2021 is likely to fall into the “near normal” category in terms of tropical activity, though there is upside risk toward an active season
  • Impacts from landfalling hurricanes could shift eastward this season toward the U.S. East Coast and the Leeward Islands based on Atlantic SSTs

Our official forecast for the 2021 Atlantic Hurricane Season (described below) shows the likelihood for a near normal season, with tropical cyclone activity at ~107% of normal anticipated and a range of activity from 97-119% of normal. Our forecasted ACE, or accumulated cyclone energy, for 2021 is 131 (Figure 2). When the is translated into “plain English” and compared to normal, 17 named storms, 8 hurricanes, and 3 major hurricanes are expected from June-November (Figure 1). This compares to historical averages of 14 named storms, 7 hurricanes, and 3 major hurricanes, respectively.

Unlike last season, the 2021 outlook does not include a hyperactive season within the expected range of outcomes, though there is very little chance for below normal activity this season. Upside toward an active season does exist if key forecast  drivers consolidate in that direction, and above normal tropical activity is anticipated based on all metrics except for major hurricanes this season. It should be noted that a “normal hurricane season” now represents higher levels of tropical activity in all aspects because of the climatology update that uses 1991-2020 as the baseline instead of 1981-2010. For example, if our 2021 outlook was issued based on the previous climatology, our forecast would call for an active season instead of a near normal one. Related to the climatology change (increased storm number), the Greek alphabet will no longer be used to extend the name list moving forward, replaced by a secondary name list if the initial one is exhausted. Details behind our 2021 outlook are outlined below:

  • Forecast Indicators: At a two-month lead time from the start of the 2021 Atlantic hurricane season (begins 01 June), and a four-month lead on the beginning of the peak season where ~90% of the total activity occurs, the major ocean basins are aligned in support of a near to above normal season of tropical activity once again. Beginning with ENSO (El Niño Southern Oscillation), there is an 80% chance of neutral or La Niña conditions being in place by the August-October peak of hurricane season, with only a 20% chance of El Nio. La Niña is the most favorable state for active Atlantic seasons as it supports low vertical wind shear needed for tropical cyclone intensification/formation, so the strong likelihood of neutral or La Niña conditions in 2021 supports an active year while the slight El Niño chance caps the potential to some degree. The Atlantic Multi-decadal Oscillation (AMO) shows an 80% chance to  be in its favorable warm SST phase for Atlantic tropical activity. The largest question pertains to the Indian Ocean Dipole (IOD), which has a connection to Atlantic activity in relation the occurrence of dry air that suppresses tropical cyclone formation. In 2021, there are questions about  the state of the IOD by August-October, which supports a nearer to normal  hurricane season.
  • 2021 Hurricane Season Outlook: Based on the forecast indicators outlined, analog years were selected to help produce a forecast for 2021 Atlantic tropical cyclone activity. The most reliable variable forecasted is accumulated cyclone energy (ACE), which is widely viewed as the best measure of cyclone activity as compared to total named storm number, hurricane number, etc. The reason for this is that tropical cyclones vary wildly in duration/lifetime (anywhere from 1-10+ days), so similar numbers of storms in different years can still represent very different levels of activity. We also represent the forecast in terms of average/expected numbers of tropical storms, hurricanes, and major hurricanes, which is what is presented in the forecast summary of Figure 1. Our forecast for the June-November hurricane season is for activity to be at 107% of normal. The spread among the analogs was relatively narrow, with 20% of the years showing below normal activity while the other 80% showed  above normal activity (see Figure 2). Due to the narrow range among analog years relative to the new normal level of activity, 100% of the analog years  used in the forecast fell into the “near normal” range (within 25% of normal).  This results in a high confidence outlook for near to above normal activity in  2021, with the direction of ENSO and the IOD key issues to watch in the direction that the season takes.

THE 2021 SST (SEA SURFACE TEMPERATURE) PATTERN SUGGESTS THAT LANDFALLING IMPACTS IN THE ATLANTIC COULD SHIFT TOWARD THE U.S. EAST COAST

Separate from overall Atlantic hurricane activity, impacts on commodities such as oil and shipping depend on storms reaching the Gulf of Mexico and/or making landfall in North America. The analog years used in the forecast and current SST anomalies both depict the U.S. East Coast as being at the greatest risk for higher impacts than usual based on warm ocean waters off the coastline. If the picture holds, any developing tropical cyclone that moves across the Western Atlantic approaching the U.S. will have ample energy to tap into and become a high-impact hurricane if other environmental conditions allow. There is also a consensus for slightly warmer than normal SSTs  around the Leeward Islands of the Caribbean Sea, making that another area to  watch for high-end impacts this season. Gulf of Mexico SSTs are by no means cold but are nowhere near the record warmth of last year.

2020 VERIFICATION AND SUMMARY

The 2020 Atlantic hurricane season finished with 30 named storms, 13 hurricanes,  and 6 major hurricanes. Total tropical activity came in at 176% of normal, as  measured by accumulated cyclone energy (ACE). This hyperactive season made 2020 the 5th consecutive active season in the Atlantic, demonstrating the highest degree of tropical Atlantic activity since 2017. Our 2020 Atlantic tropical seasonal outlook called for an active season with a risk toward hyperactive levels, which means that the hyperactive season observed was within our anticipated range of outcomes albeit on the top end of the range.

  • Impacts: The 2020 Atlantic Hurricane season was a worst-case scenario in terms of impacts based on activity being strongly focused over the Gulf of Mexico and Central America (Figure 4). A flurry of storms made landfall in the Gulf of Mexico, with eastern  Texans and Louisiana being the hardest-hit U.S. areas from two major hurricanes impacting the region. This activity caused major disruptions for oil operations in the Gulf of Mexico. Nicaragua also experienced landfalls by  major hurricanes in close succession, which resulted in catastrophic damage to the coastal areas of the country. Meanwhile, the U.S. East Coast and the Caribbean Leeward Islands dodged major impacts in 2020 as generally quieter areas.

FIGURE 2: Annual Atlantic seasonal (June-November) tropical cyclone activity from 1982-2021, with the top analogs (2000, 2008, 2011, 2012, and 2018) highlighted in red (green) for active (inactive) seasons, and the 2021 forecast highlighted in purple.

FIGURE 3: Global composite SST anomalies (°C) from the top August-October analogs based on the leading forecast indicators, with a yellow box outlining the Niño 3.4 region. SST anomalies exceeding 0.5°C are enclosed by dashed black contours. Analog years influencing the composite are as follows, with equal weightings: 2000, 2008, 2011, 2012, and 2018. SOURCE: ESRL/NCEP

Hopefully the 2021 Atlantic Hurricane season is nothing like 2020… 

    Tyler Durden
    Mon, 05/10/2021 – 16:50

    via ZeroHedge News https://ift.tt/3eyjOrG Tyler Durden

    “This Must Stop!” One Father’s Fight Against Pervasive Entrenchment Of Critical Race Theory In America’s Schools

    “This Must Stop!” One Father’s Fight Against Pervasive Entrenchment Of Critical Race Theory In America’s Schools

    Authored by Andrea Widburg via AmericanThinker.com,

    Even as the Biden administration doubles down on Critical Race Theory, a dishonest, divisive, toxic idea holding that Whites are racist, inferior creatures who have used their unfairly obtained privilege to oppress Blacks and other races, parents are beginning to fight back.  It turns out that, once you ignore cancel culture make a statement, there are a lot of people who want to follow your lead.  One of those parents, to his surprise, found himself at the head of a brewing revolution.

    Three weeks ago, two letters exploded on the New York education scene and started echoing through the rest of America.  The first was from a teacher challenging Grace Church High School’s anti-white Critical Race Theory indoctrination.  The second letter was from Andrew Gutmann, who spoke out against the same indoctrination at the Brearley school.  Both schools are expensive, claim to be elite, and are teaching a doctrine every bit as toxic as the Jim Crow eugenics garbage that Democrats promoted in the first half of the 20th century.

    While the teacher’s letter was an eye-opener, the fact that Gutmann is a parent meant that his letter resonated with parents across America.  To his surprise, he’s found himself leading the charge for these parents.  In an opinion piece in the New York Post, Gutmann describes the positive feedback he’s getting, as well as the fact that there is a huge battle ahead for those parents unhappy about the hard left turn their children’s education has taken:

    I am enormously gratified by the overwhelmingly supportive emails and messages that I have personally received. Countless parents expressed to me their appreciation for stating clearly and forcibly what so many Americans have been thinking but have been too afraid to state out loud. Many also conveyed that they felt newly emboldened to speak up for their children. I have learned that my letter has been circulated and discussed in Board of Trustees meetings of schools across the country and I have been told that it has begun to make an impact. Even Brearley, after initially dismissing the contents of my letter and indicating a desire to double down on antiracism initiatives has, for the very first time, offered parents an opportunity to ask questions about the school’s diversity, equity, inclusion, and antiracist initiatives. 

    That’s the good news.  The bad news is that Gutmann learned from the outpouring of messages that, in a single year, Critical Race Theory has become deeply embedded in American education from kindergarten through to graduate work:

    Prior to sending the letter, I had no idea how pervasive and entrenched critical race theory had become in our schools, including public and religious schools. Nor did I comprehend just how many parents were dealing with the same issues as our family, with close-minded administrations and racist, age-inappropriate and indoctrinating curriculums. I have been told stories about children as early as kindergarten being asked to draw a self portrait, with explicit instructions to focus exclusively on accurately depicting their skin tone. I have been told stories of young adults at elite medical schools spending weeks of instruction on transgender issues and antiracism in lieu of pediatrics and geriatrics. 

    The biggest issue standing in the way of fixing the problem is cancel culture:

    Additionally, we cannot fix these educational problems until we eradicate the insidious cancer that is cancel culture. Too many parents are too afraid to speak up in support of their children’s education for fear of losing their jobs. And it’s true that there is an appalling stench of cowardice emanating from the corporate boardrooms of our country. Just like the administration of my daughter’s private school, our business leaders have been cowering to a small, miseducated and unenlightened social media mob. This must stop! 

    There’s much more, and I urge you to read the whole thing.  It’s clear that, because CRT is so entrenched, Gutmann does not think the end of the battle is anywhere near.  Instead, his tone is rather like Churchill’s in 1942, when Churchill said, “This is not the end.  It is not even the beginning of the end.  But it is, perhaps, the end of the beginning.”  Just a month ago, American parents hadn’t even started to fight.  As more engage in the battle, the pace will accelerate.

    Tyler Durden
    Mon, 05/10/2021 – 16:30

    via ZeroHedge News https://ift.tt/3xYTte9 Tyler Durden

    Tech Wrecks, Ether Erupts, Commodities Crumble As Dollar Gives Up 2021 Gains

    Tech Wrecks, Ether Erupts, Commodities Crumble As Dollar Gives Up 2021 Gains

    That was quite a day. The tech wreck continued, leading the drop in stocks. Commodities did the unthinkable and tumbled on the day but Gold and Cryptos gained as the dollar dumped into the red for the year…

    Source: Bloomberg

    Dallas Fed’s Kaplan warned that he was “cognizant of excess risk-taking in financial markets”. Maybe turn the taps off then?

    The Dow topped 35k for the first time ever but was unable to hold gains and ended its win streak at 5 days. The US cash open sparked panic-selling in Small Caps and Big-Tech and they never really looked back. All major indices were hit to the downside around 1415ET (ahead of margin call time). Stocks closed ugly at the lows of the day…

    The Dow’s recent dramatic outperformance pushed it above the March highs relative to Nasdaq…

    Source: Bloomberg

    Nasdaq broke down to its 100DMA…

    Small Caps closed below their 50DMA once again…

    FANG Stocks continued to slide…

    Source: Bloomberg

    AMZN dropped 3% as it issued upside $18.5bn debt…

    Unprofitable Tech company stocks are are down 17% YTD (and -36% from their February highs)…

    Source: Bloomberg

    IPOs continue to tumble (as Jessica Alba’s Honest Co crashes)…

    Source: Bloomberg

    ARKK continues to sink, now at its lowest since mid-Nov 2020…

    Despite the carnage in stocks, bonds were also under pressure today (likely due to the major AMZN issue) with the long-end underperforming (30Y +4bps)…

    Source: Bloomberg

    Commodities did the unthinkable today… and closed lower (biggest daily drop in over 5 weeks)..

    Source: Bloomberg

    Lumber tumbled by the most since March today – ending the winning streak at 13 days…

    Source: Bloomberg

    Wheat also plunged today – its biggest drop since Aug 2019…

    Source: Bloomberg

    Overnight saw surges in a number of industrial metals in China (Iron Ore, Steel, Copper), but they also started to tumble as the day wore on…

    Source: Bloomberg

    Cryptos were mixed as the dollar dropped with Ether outperforming, hitting $4200 record highs…

    Source: Bloomberg

    And Bitcoin disappointing (back below 57k)…

    Source: Bloomberg

    Sending ETH/BTC to its highest since June 2018…

    Source: Bloomberg

    Gold ended the day only marginally higher (despite the USD’s notable weakness). Silver was a laggard and crude and copper also lost ground today…

    Source: Bloomberg

    Finally, it’s probably nothing, but US stocks have never, ever, ever been this expensive…

    Source: Bloomberg

    Tyler Durden
    Mon, 05/10/2021 – 16:01

    via ZeroHedge News https://ift.tt/3bgPrEg Tyler Durden

    NTSB Issues Preliminary Report On Fatal Tesla Wreck, Says “All Aspects” Remain Under Investigation

    NTSB Issues Preliminary Report On Fatal Tesla Wreck, Says “All Aspects” Remain Under Investigation

    The NTSB has issued its preliminary report on the fatal Texas Tesla crash that took the lives of the vehicle’s two occupants last month. While the preliminary report notes that “all aspects of the crash remain under investigation as the NTSB determines the probable cause,” the report did touch on several key points. 

    The report noted that:

    • Footage from the vehicle’s owner’s home security system showed “the owner entering the car’s driver’s seat and the passenger entering the front passenger seat”. It has been called into question whether or not there was anyone in the driver’s seat at the time of the crash, so it appears to be too early to judge whether or not this means anything.

    • It was shortly thereafter that the “car leaves and travels about 550 feet before departing the road on a curve, driving over the curb, and hitting a drainage culvert, a raised manhole, and a tree,” the report notes. 

    • The ensuing fire destroyed the car’s onboard data storage device. Yes, despite the fact that Elon Musk went “all in” in proclaiming that data logs “recovered so far” showed Autopilot was not enabled in the car last month, the NTSB is now reporting that they didn’t have access to stored data inside the vehicle The report reads: “The crash damaged the front of the car’s high-voltage lithium-ion battery case, where a fire started. The fire destroyed the car, including the onboard storage device inside the infotainment console.”

    Then the report highlights one of the main points of contention around the investigation: whether or not Autopilot was engaged. The NTSB writes that a similar vehicle could have engaged Traffic Aware Cruise Control, but not Autosteer, at the point where the crash took place:

    “The vehicle was equipped with Autopilot, Tesla’s advanced driver assistance system. Using Autopilot requires both the Traffic Aware Cruise Control and the Autosteer systems to be engaged. NTSB tests of an exemplar car at the crash location showed that Traffic Aware Cruise Control could be engaged but that Autosteer was not available on that part of the road.”

    It is unclear whether or not Tesla can toggle the availability of these features, for certain roads, on the fly. 

    The report also contained a stunning photo of the “fire and impact damage” to the vehicle

    The NTSB concluded by stating that the investigation was ongoing and that it was working with Harris County Texas Precinct 4:

    The NTSB continues to collect data to analyze the crash dynamics, postmortem toxicology test results, seat belt use, occupant egress, and electric vehicle fires. All aspects of the crash remain under investigation as the NTSB determines the probable cause, with the intent of issuing safety recommendations to prevent similar crashes. The NTSB is working alongside the Harris County Texas Precinct 4 Constable’s Office, which is conducting a separate, parallel investigation. 

    Recall, it was Mark Herman, Harris County Constable Precinct 4, who was most skeptical of Musk’s comments absolving Autopilot of liability last month, telling Reuters that the police served search warrants on Tesla to secure data from the Model S. 

    Responding to Musk at the time, Herman said: “If he is tweeting that out, if he has already pulled the data, he hasn’t told us that. We will eagerly wait for that data.”

    “We have witness statements from people that said they left to test drive the vehicle without a driver and to show the friend how it can drive itself,” Herman said according to the Reuters report.

    A reported 23,000 gallons of water needed to be used to extinguish the flames because the Tesla’s battery “kept reigniting”.

    Tyler Durden
    Mon, 05/10/2021 – 15:40

    via ZeroHedge News https://ift.tt/3uF4wHe Tyler Durden