As Teachers Unions and Bureaucrats Battle, Families Choose Alternative Schools

dpaphotosfour898551

As part of his big-bucks pandemic relief package, President Joe Biden proposes $130 billion dollars to reopen public K-12 schools. It’s an impressive figure when you consider that annual federal funds to government schools in recent years has been around $60 billion, with the vast majority of school money coming from state and local sources. But much opposition to opening schools for in-person instruction comes from teachers unions fighting to draw pay while kids languish with substandard remote offerings. That makes the money look like a bribe to the administration-linked labor bloc to get it to live up to the example of competing education options.

This School Choice Week, let’s compare the government schools with those alternatives.

“The COVID-19 pandemic created unprecedented challenges for K-12 schools and institutions of higher education, and the students and parents they serve,” Biden argued in his American Rescue Plan, released before his inauguration. “The president-elect’s plan will provide $130 billion to support schools in safely reopening,” it added, leading into a list of potential purchases with the truly vast sum of money.

But the offer to make schools safer comes months after data from Europe and the United States indicates that schools aren’t hot beds of infection. “Two new international studies show no consistent relationship between in-person K-12 schooling and the spread of the coronavirus,” Anya Kamenetz noted for NPR last October.

“The best available data suggests that infection rates in schools simply mirror the prevalence of covid-19 in the surrounding community,” Emily Oster, a Brown University economics professor, wrote in November.

“The default position should be to try as best as possible within reason to keep the children in school or to get them back to school,” Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, commented on November 29. While Fauci has flip-flopped on this issue, he repeatedly returns to the idea that schools should be open to teach children.

Nevertheless, many government schools across the country remain closed or only intermittently open. That’s largely a result of opposition by teachers unions, who raise bogus safety fears. Even now, unions in Minneapolis and St. Paul resist reopening and the union in Chicago plans to strike over the issue.

And while bureaucrats and union leaders clash over whether the schools they mismanage should make any sort of effort to serve students, those kids are backsliding. The effects aren’t yet catastrophic, but test scores show children losing groundespecially in math.

While public school have never been very flexible or responsive to family needs and have a reputation for underachieving, their nearly complete failure to adapt to the pandemic has driven students to the exits. “Public school enrollment is down across the country,” Taryn Morrissey, associate professor of public administration and policy at American University School of Public Affairs, observed earlier this month. “For example, enrollment dropped by 15,000 in Chicago public schools and more than 20,000 for the District of Columbia.”

The extent of flight from government schools varies but, in October, NPR reported “the average kindergarten enrollment drop was 16%.”

In an analysis of 33 states, Chalkbeat and The Associated Press found an overall decline in public school enrollment of 2 percent after years of slow, steady increase.

Where are those kids going?

“Some children, especially those from high-income families, are attending private schools, which are more likely to offer in-person schooling,” adds Morrissey. “An increasing number of families are choosing to home-school.”

“In a survey of 160 independent schools over 15 states and the District of Columbia, almost half of schools (78) surveyed report they have experienced higher enrollment in the current school year, relative to the prior year,” Damian Kavanagh, president of the Mid-South Independent School Business Officers association and Ben Scafidi, the director of the Education Economics Center at Kennesaw State University reported in November. “Forty-eight schools experienced a decrease in enrollment, while the remaining 34 schools had enrollments ‘stay about the same.’ Of schools where enrollment essentially was unchanged, the reason that enrollment did not increase at 14 of them was because they were at capacity.”

Keep in mind that, during a time of lockdown-induced economic privation, people are digging deep in their pockets to pay private school tuition on top of the taxes extracted for the schools they’ve fled. Why? “More families are seeking out private or independent schools that are fully in-person rather than remote,” The Post and Courier of Charleston, South Carolina reported last week.

But, if you want something done your way, the best approach may be to do it yourself and families are doing just that in droves. An estimated 3.3 percent of children were homeschooled in 2016, up from 1.7 percent in 1999, according to the National Center for Education Statistics. That share is now closer to 10 percent, as indicated by surveys from Education Week and Gallup.

“Home schooling will become more mainstream and socially acceptable, now that so many people are getting experience with schooling their own children from home—whether it’s through traditional home schooling or overseeing their children’s remote schooling,” Christopher Lubienski, a professor of education policy at Indiana University, told Education Week.

Making such an outcome more likely is the proliferation of resources for families that choose to educate their own children. The National Homeschooling Association even offers an online curriculum matching service (and I offer a free online list of resources).

Families are also joining together to pool their efforts in “learning pods” and “microschoolsa range of arrangements that span the spectrum from homeschooling co-ops to small, flexible private schools with paid teachers. The exact form varies because the needs of parents and students vary. That is, while bureaucrats and union officials battle over whether schools should be open at all, families are ignoring the spats to develop approaches that work for their particular situations.

But laying out tuition and resources for various forms of private school and homeschooling gets spendy when you’re also coughing up the taxes for ineffective government offerings that you don’t want. That can limit options to middle- and upper-income families while poorer kids wait on the one-size-fits-some outcomes of labor negotiations. Public schools are on the verge of becoming the education equivalent of Medicaida last-resort choice for those who can’t afford better.

Fortunately, some states offer tax credits, vouchers, and other means of letting families spend at least some proportion of education funds on options they choose rather than on take-it-or-leave-it government offerings. More are considering changes to let money follow kids to their chosen education.

“Legislators in 14 states have introduced bills to fund students instead of systems this month,” notes Corey DeAngelis, the Reason Foundation’s Director of School Choice. The Educational Freedom Institute, where DeAngelis is executive director, tracks states that are considering expanding school choice and makes it easy to contact lawmakers.

That’s a good place to start if you want to improve children’s access to learning. Making it easier for families to fund their preferred education options will be a lot more effective than throwing a big bribe to teachers unions.

from Latest – Reason.com https://ift.tt/2YdRbas
via IFTTT

Supreme Court Dismisses Suits Over Trump Finances

Supreme Court Dismisses Suits Over Trump Finances

The US Supreme Court on Monday ordered the dismissal of a pair of lawsuits accusing former President Trump of illegally profiting from his presidency, after several foreign and state government officials patronized his properties – including the Trump International Hotel in Washington, located a few blocks from the White House.

The plaintiffs included hotels, restaurants and the attorneys general of Maryland and the District of Columbia, and accused Trump of violating the Constitution’s two emoluments clauses, according to Bloomberg Law, which notes that “One clause bars a president from accepting benefits from foreign governments without congressional consent, while the other bars receipt of any benefit other than a salary from the U.S. government or a state.”

The cases were dismissed after both sides agreed that the disputes had become legally moot after Trump’s term in office ended on January 20th.

One of the key questions in the cases was who, if anyone, had standing to sue to enforce the emoluments clauses. According to the report, lower courts in both cases said the plaintiffs had legal standing, while the Supreme Court set aside those rulings as part of its Monday order – a step urged by the Trump DOJ.

The cases are Trump v. Citizens for Responsibility and Ethics in Washington, 20-330, and Trump v. District of Columbia, 20-331 (via Bloomberg)

Meanwhile, Trump’s post-presidency legal woes appear to be ramping up, as Manhattan District Attorney, Cyrus Vance, expanded his office’s criminal investigation into the Trump organization’s finances last week.

According to the Daily Mail, prosecutors have begun looking into a 212-acre property north of New York City called Seven Springs, which NY Attorney General Letitia James is looking at as part of a probe over whether Eric Trump and various corporate entities artificially inflated property values.  A 2012 document values the property at $291 million, while local realtors say it’s worth more like $50 million or less. The Trump organization bought it in 1995 for $7.75 million.

The organization then put part of the property into a land trust via conservation easement, which would leave that portion – 158 acres – untouched and undeveloped, ostensibly resulting in a tax break based on the value of the property. The higher the valuation, the larger the tax deduction.

It [the 158 acres] was appraised at $21.1 million, according to the filings but now investigators are looking to see whether the value was artificially inflated. 

‘Valuations of Seven Springs were used to claim an apparent $21.1 million tax deduction for donating a conservation easement on the property in tax year 2015, and in submissions to financial institutions as a component of Mr. Trump’s net worth,’ according to court filings in the New York attorney general’s investigation. –Daily Mail

The probe into Trump’s finance originated after Vane opened an investigation into hush-money payments made to two women prior to the 2016 election, who claimed they had sexual relations with Trump.

Vance notably came under fire in 2018 over a 2015 decision not to pursue charges against Harvey Weinstein – after an attorney for the movie mogul gave Vance $24,000, while another attorney sent $10,000 following the decision.

Tyler Durden
Mon, 01/25/2021 – 10:58

via ZeroHedge News https://ift.tt/2MoqzAI Tyler Durden

Hedge Fund CIO: “It’s An Orgy”

Hedge Fund CIO: “It’s An Orgy”

By Eric Peters, CIO of One River Asset Management

“The big boys are no longer bullish,” bellowed Biggie Too in baritone. “The big boys are now bubble bullish,” continued the chief investment strategist for one of Wall Street’s Too-Big-To-Fail affairs. “They ask Biggie, why can’t the S&P trade 5,500?” said Too, easing into third person. “And Biggie asks ’em back: We got 6% GDP and 1% rates, who’s gonna short this?” he said. “You do the math, you gonna tell Biggie to short this thang?” asked Too. And I shrugged, having long since learned to recognize when Biggie’s question is the answer.

“No one’s gonna short the S&P unless 6% GDP falls to 4%, or 1% rates jump to 2%,” barked Biggie. “Ain’t happening in Jan,” whispered Too. “Too much Covid, too little vaccine, too much money, too few places to put it,” he said, riffing. “You think Powell’s gonna do a 2013 taper tantrum right now?” laughed Biggie. “No chance, everyone knows it. And that’s the only thang that scares Biggie,” said Too, smiling, breaking into a slow groove. “So tell me why ain’t this thing already up 10%? Why’s LQD soft? EMFX too?” winked Biggie.

“You know we gonna get a 15-20% budget deficit in 2021 right?” asked Biggie, not waiting for an answer. “And you know we gonna have a Fed balance sheet that’s 40% of GDP?” asked Too, on a roll. “And they just wrote $600 checks and now they’re gonna write $1,400 checks right?” he asked. I nodded. “You know that when these kinds of numbers keep rising they get real hard to roll back, right?” asked Biggie. “You know this is the kind of thing that sparks the Mamma of all Bubbles?” he asked. “And you know inflation will mark its end?”

Gatsby: “The 1920s followed the pandemic,” explained the CIO. “People don’t tend to draw that connection, but the reality is that throughout history, such catastrophes lead to periods where people lose their minds,” he said. “This time around, the government is providing the bridge, funding the collapse in demand. Who knows for how long? It could be 3yrs in total.” Here we are, approaching another March with lockdowns looming. “You see signs of political insanity, all sorts of speculation too, Robinhood. And today, everything happens faster, time compresses.”

Treadmills:

“Anyone being intellectually honest about Covid should admit the stimulus will be with us for a long time,” explained the CIO. “Mass vaccinations will take longer than anyone thinks – it’ll take until late summer or early autumn to bring Covid’s prevalence down,” he said. “Then come the mutations.” Which make it appear likely we’ll need to tweak the vaccines. “So we may enter a cycle where it takes nearly a year to vaccinate the population and each year we need new vaccines, which means this will restrain the economy for a couple more years.”
 
Caligula:

“It’s an orgy,” said the CIO. “A money illusion, sucking everyone in,” he continued, acknowledging that a fiat system is itself a monetary mirage. “In a market like this, you use your marked-to-market profits to double down, then to double down again,” he explained, all SPAC’d up with nowhere to go. “And it feels like we’re entering the illusory-illusion phase, where prices keep running ahead of the money supply expansion – where things keep going up as long as the Ponzi unit of account continues expanding,” he said. “It only ends when liquidity tightens.”

“This is the hyper-aggressive stage of the market cycle where the smartest value guys start warning,” continued the same CIO. “Klarman, Marks, Grantham.” They remind us that asset prices must ultimately be anchored to fundamentals. “They’re not wrong of course, but they’re usually early, and the foundation for this speculative boom remains intact,” he said. “They argue valuations are extreme, and they’re right. But they can always get more extreme, and what you learn from past cycles is that valuations and fundamentals can diverge for ages.”

Tyler Durden
Mon, 01/25/2021 – 10:37

via ZeroHedge News https://ift.tt/3a4kuBI Tyler Durden

Parents Who Opt Out of Public Schools Don’t Deserve Smears From Teachers Unions

element5-digital-OyCl7Y4y0Bk-unsplash

Marta Mac Ban is not a revolutionary. Ashley Ekpo is not disgruntled. And Brooke Hunt does not consider herself better than others. All three women just want the best education possible for their children.

During the COVID-19 pandemic, that has meant taking matters into their own hands. Rather than settling for public school solutions that put students in front of laptops all day, the parents have pulled their kids out of the system and tried alternatives.

The empowerment scares teachers unions, which have a long history of attacking choice. Normally when parents try homeschooling or other options, union allies brand them as weird or extreme. The newest smear is even uglier.

Parents who bring their children together in small learning groups during the pandemic not only get labeled as eccentric, but also as segregationists guilty of promoting racial division in a nation with an ugly history of “separate but equal.”

The National Education Association lays out the talking point in a recent policy paper, and industry insiders have repeated the claim on dozens of platforms. Using loaded terms like “radical” and “unqualified,” they have sounded the alarm about a massive parental revolt.

Popular targets include families that have organized themselves into pandemic pods and microschools—two variations of homeschool co-ops that allow in-person instruction to continue in residential settings while brick-and-mortar classrooms remain closed or restricted.

Union leaders blast the innovation not because it fails, but because it works. They argue that the proliferation of home study groups will widen opportunity gaps and worsen school segregation because well-resourced families will benefit disproportionately. New York University sociologist R. L’Heureux Lewis-McCoy says pod parents engage in “opportunity hoarding.”

Gregory Hutchings, superintendent of Alexandria City Public Schools in Virginia, warned about the opportunity gaps during a summer meeting with parents. Yet his concern that nobody get ahead during the pandemic applied only to others. Shortly after his lecture, he pulled one of his own children out of the district and enrolled her in a private Catholic school.

The pressure campaign is powerful, but many parents are no longer listening. Rather than worrying about the name-calling, they are reclaiming control.

‘Room Mom’ Opts Out

Marta Mac Ban, an Arizona parent who started homeschooling her 6-year-old daughter during the pandemic, says the jolt from COVID-19 is exactly what the school system needed. “The shakeup has reminded district leaders who their customers really are,” she says. “If you don’t give your customers what they want, they go elsewhere.”

She and her husband did that in 2019 when they moved to Cave Creek, a small community north of Phoenix. They liked the local district, so they relocated as a form of school choice. Then they enrolled their daughter in kindergarten and got involved. Mac Ban volunteered as “room mom,” creating classroom decorations and participating in parties. She also stayed active in the parent-teacher organization, compiling and sending monthly newsletters.

Everything went well until March, when classes switched to Zoom. Mac Ban, who tries to limit her daughter’s screen time, quickly opted out. “She’s not going to sit still for hours at a time staring at a computer,” Mac Ban says.

She and her husband previously had considered homeschooling but were unsure if they had sufficient resources to pull it off. “We were already on the fence,” Mac Ban says. “COVID was the push.” Now she teaches at home, while teaming up with neighbors one day per week in a learning pod.

Despite the switch, Mac Ban does not oppose public schools. She sees many good things in her local district and continues to serve in the parent-teacher organization. What she supports is more choice. “One size does not fit all,” she says. “It’s ironic that they say, ‘No child left behind’ because so many kids are left behind when everyone is forced to go just to the one school.”

Surprised by Success

Prior to the pandemic, Ashley Ekpo and her husband also relocated to find better schools. They switched from Prince George’s County to neighboring Howard County in Maryland. The move extended the work commute for both parents, but they accepted the extra drive time as a sacrifice for their children.

Things went well until the pandemic. The parents initially jumped on board with distance learning through their public school, but soon found themselves overwhelmed with three school-aged children and two younger ones at home. “They were all lined up at the dining room table, and it was basically a nightmare,” Ekpo says.

After a few weeks, she noticed a drop in educational quality, so she started researching options. When she and her husband decided to try homeschooling, they initially saw it as a temporary solution until they felt comfortable sending their children back to the classroom. Now, the parents aren’t sure what they will do in 2021 and beyond. “We’re staying open-minded because we’re having a really good experience with it,” Ekpo says.

A Place for Everyone

Brooke Hunt and her husband like choice so much that they let their older children decide for themselves what they wanted to do during the pandemic. All three opted to remain in public schools, while two younger ones started homeschooling in Mesa, Arizona. “We just made the big, brave decision in August,” says Hunt, who has a degree in early childhood education.

Critics complain that homeschooling can cut children off from diverse classrooms, but Hunt sees the opposite in the co-op that she runs with two other families. Unlike public schools, which segregate students by age, the homeschooling group brings children together at different stages of development. This represents a type of diversity.

Participants in Hunt’s group also come from different racial and ethnic backgrounds. “Lack of diversity is never an issue,” she explains. Her only regret is that she cannot help more families in her little operation. “I wish I could open my home to everyone where there’s a need,” Hunt says.

Teachers unions could benefit from the same inclusive mindset. Parents like Mac Ban, Ekpo, and Hunt are not segregationists. They are innovators who should be celebrated, not smeared.

from Latest – Reason.com https://ift.tt/39ctR33
via IFTTT

Sarah Huckabee Sanders Announces Run For Governor Of Arkansas

Sarah Huckabee Sanders Announces Run For Governor Of Arkansas

Since she left the West Wing, Sarah Huckabee Sanders, it has been assumed, would be running for office in her home state, perhaps as a senator, or maybe even the governorship, an office once held by her father, Mike Huckabee, and former president Bill Clinton.

On Monday, Sanders made it official by releasing a lengthy video announcing her candidacy for the governorship.

Although President Trump is still banned from twitter, former Secretary of State Mike Pompeo tweeted his endorsement of Sanders’ bid for the governor’s mansion in Little Rock.

Sanders, the former White House press secretary, left her job in the West Wing back in 2019, with the expectation that she would be heading back to Little Rock, where she grew up, to start preparing for a run.

Still,  her announcement shows how much she expects voters in deep-red Arkansas to embrace her, and her legacy of working for President Trump.

Sanders is joining a Republican primary that already includes two statewide elected leaders: Lt. Gov. Tim Griffin and Attorney General Leslie Rutledge. They’re all running to succeed current Gov. Asa Hutchinson, a Republican who is unable to run next year due to term limits.

No Democrats have announced a bid.

A she noted in the video, Sanders was the first working mother and only the third woman to serve as White House press secretary.

The race could soon get even more crowded if GOP State Sen. Jim Hendren, a nephew of Hutchinson’s, is considering a run for the seat.
Though Sanders has a much higher profile than any of the candidates, she remains an unknown on many of the state’s biggest issues, though in her announcement she called for reducing state income taxes and cutting funding to so-called “sanctuary cities”.

Tyler Durden
Mon, 01/25/2021 – 10:20

via ZeroHedge News https://ift.tt/2MmBP0y Tyler Durden

Parents Who Opt Out of Public Schools Don’t Deserve Smears From Teachers Unions

element5-digital-OyCl7Y4y0Bk-unsplash

Marta Mac Ban is not a revolutionary. Ashley Ekpo is not disgruntled. And Brooke Hunt does not consider herself better than others. All three women just want the best education possible for their children.

During the COVID-19 pandemic, that has meant taking matters into their own hands. Rather than settling for public school solutions that put students in front of laptops all day, the parents have pulled their kids out of the system and tried alternatives.

The empowerment scares teachers unions, which have a long history of attacking choice. Normally when parents try homeschooling or other options, union allies brand them as weird or extreme. The newest smear is even uglier.

Parents who bring their children together in small learning groups during the pandemic not only get labeled as eccentric, but also as segregationists guilty of promoting racial division in a nation with an ugly history of “separate but equal.”

The National Education Association lays out the talking point in a recent policy paper, and industry insiders have repeated the claim on dozens of platforms. Using loaded terms like “radical” and “unqualified,” they have sounded the alarm about a massive parental revolt.

Popular targets include families that have organized themselves into pandemic pods and microschools—two variations of homeschool co-ops that allow in-person instruction to continue in residential settings while brick-and-mortar classrooms remain closed or restricted.

Union leaders blast the innovation not because it fails, but because it works. They argue that the proliferation of home study groups will widen opportunity gaps and worsen school segregation because well-resourced families will benefit disproportionately. New York University sociologist R. L’Heureux Lewis-McCoy says pod parents engage in “opportunity hoarding.”

Gregory Hutchings, superintendent of Alexandria City Public Schools in Virginia, warned about the opportunity gaps during a summer meeting with parents. Yet his concern that nobody get ahead during the pandemic applied only to others. Shortly after his lecture, he pulled one of his own children out of the district and enrolled her in a private Catholic school.

The pressure campaign is powerful, but many parents are no longer listening. Rather than worrying about the name-calling, they are reclaiming control.

‘Room Mom’ Opts Out

Marta Mac Ban, an Arizona parent who started homeschooling her 6-year-old daughter during the pandemic, says the jolt from COVID-19 is exactly what the school system needed. “The shakeup has reminded district leaders who their customers really are,” she says. “If you don’t give your customers what they want, they go elsewhere.”

She and her husband did that in 2019 when they moved to Cave Creek, a small community north of Phoenix. They liked the local district, so they relocated as a form of school choice. Then they enrolled their daughter in kindergarten and got involved. Mac Ban volunteered as “room mom,” creating classroom decorations and participating in parties. She also stayed active in the parent-teacher organization, compiling and sending monthly newsletters.

Everything went well until March, when classes switched to Zoom. Mac Ban, who tries to limit her daughter’s screen time, quickly opted out. “She’s not going to sit still for hours at a time staring at a computer,” Mac Ban says.

She and her husband previously had considered homeschooling but were unsure if they had sufficient resources to pull it off. “We were already on the fence,” Mac Ban says. “COVID was the push.” Now she teaches at home, while teaming up with neighbors one day per week in a learning pod.

Despite the switch, Mac Ban does not oppose public schools. She sees many good things in her local district and continues to serve in the parent-teacher organization. What she supports is more choice. “One size does not fit all,” she says. “It’s ironic that they say, ‘No child left behind’ because so many kids are left behind when everyone is forced to go just to the one school.”

Surprised by Success

Prior to the pandemic, Ashley Ekpo and her husband also relocated to find better schools. They switched from Prince George’s County to neighboring Howard County in Maryland. The move extended the work commute for both parents, but they accepted the extra drive time as a sacrifice for their children.

Things went well until the pandemic. The parents initially jumped on board with distance learning through their public school, but soon found themselves overwhelmed with three school-aged children and two younger ones at home. “They were all lined up at the dining room table, and it was basically a nightmare,” Ekpo says.

After a few weeks, she noticed a drop in educational quality, so she started researching options. When she and her husband decided to try homeschooling, they initially saw it as a temporary solution until they felt comfortable sending their children back to the classroom. Now, the parents aren’t sure what they will do in 2021 and beyond. “We’re staying open-minded because we’re having a really good experience with it,” Ekpo says.

A Place for Everyone

Brooke Hunt and her husband like choice so much that they let their older children decide for themselves what they wanted to do during the pandemic. All three opted to remain in public schools, while two younger ones started homeschooling in Mesa, Arizona. “We just made the big, brave decision in August,” says Hunt, who has a degree in early childhood education.

Critics complain that homeschooling can cut children off from diverse classrooms, but Hunt sees the opposite in the co-op that she runs with two other families. Unlike public schools, which segregate students by age, the homeschooling group brings children together at different stages of development. This represents a type of diversity.

Participants in Hunt’s group also come from different racial and ethnic backgrounds. “Lack of diversity is never an issue,” she explains. Her only regret is that she cannot help more families in her little operation. “I wish I could open my home to everyone where there’s a need,” Hunt says.

Teachers unions could benefit from the same inclusive mindset. Parents like Mac Ban, Ekpo, and Hunt are not segregationists. They are innovators who should be celebrated, not smeared.

from Latest – Reason.com https://ift.tt/39ctR33
via IFTTT

Daytrading Army Unleashes Furious Cascade Of Short Squeeze Meltups

Daytrading Army Unleashes Furious Cascade Of Short Squeeze Meltups

In another insane day for small-cap stocks, which has seen the relentless forced short squeeze in GME continue, more than doubling the stock in the premarket before settling up some 40% higher…

… with the squeeze now moving to the second most shorted stock (as per our Friday preview) namely FIZZ…

… this morning Bloomberg points out that in addition to the buying frenzy among the most shorted stocks – which we have said ever since 2013 is the only “strategy” that makes sense in this insane market – the retail daytrading horde is now also ramping penny stocks, starting with BlackBerry, the maker of the once ubiquitous smartphone, and retailer Express, which were some of the better-known names rallying after plugs on social media stock trading forums.

To wit, BB surged as much as 41% on volume already more than double the three-month daily average and gaining for a seventh session; the stock soared past a nine-year high (this happens just days after company insiders unloaded a boatload of shares).

Shares of lesser-known small cap health-care companies were also soaring, including Vyne Therapeutics, Atossa Therapeutics, Senseonics Holdings and Zomedica all climbed in Monday’s trading.

Some more examples:

  • EXPR soared 123% as over 73 million shares traded hands, extending gains into the third day

  • AMTX (a Biofuel name ) jumped 76%, trading volume was more than 5 million shares

  • VYNE gained 59% on volume of over 20 million shares; the stock appeared on Robinhood chatrooms after the maker of skin medicines revealed a contract on Thursday but didn’t provide any financial details

  • ATOS rose 34%; the stock was touted on Reddit ahead of a presentation from the drug developer on Tuesday at the Precision Medicine World Conference where the focus will be on Covid-19 therapies
  • SENS added 28%; the stock had advanced 437% since Dec. 22 through last week after gaining social-media steam
  • Another newly minted retail favorite, ZOM climbed 14% after reaching a distribution pact on its first product; the stock had gained 398% between Dec. 22 and Friday

And so on. Expect a continuation of these insane moves until the Fed finally does something, which probably won’t happen for a long time…

Tyler Durden
Mon, 01/25/2021 – 10:02

via ZeroHedge News https://ift.tt/3sSwb7b Tyler Durden

Antifa Trashes Tacoma After Viral Video Of Cop Driving Through Crowd

Antifa Trashes Tacoma After Viral Video Of Cop Driving Through Crowd

Antifa anarchists in Tacoma, Washington set fires and vandalized buildings on Sunday after a video of a police officer plowing through a crowd of illegal street racers went viral over the weekend.

Videos of the mayhem were all over Twitter Sunday night, as hundreds of people took to the streets near the incident – damaging at least two police cars and forcing several city buildings to be evacuated, according to the NY Post.

An unlawful assembly was declared around 9:20 p.m. Sunday night.

Protesters assembled outside of the Pierre County Jail, chanting “Free them all!”

Meanwhile, protesters are planning on this being a nightly thing…

How long until a new autonomous zone is created and a soundcloud rapper starts passing out semiautomatic weapons out of the back of his Tesla?

Tyler Durden
Mon, 01/25/2021 – 09:47

via ZeroHedge News https://ift.tt/2M5jh5h Tyler Durden

Moderna Jab Not Effective Against “Mutant” South African COVID Strain

Moderna Jab Not Effective Against “Mutant” South African COVID Strain

Moderna’s latest trial data includes some good news…and some bad news.

The good news is that the biotech company’s original COVID jab is effective against two mutations of SARS-CoV-2 which were first isolated in the UK and South Africa, respectively.

The bad news is that, at least when it comes to the South African variant, Moderna’s jab is much less effective than scientists had expected. That’s a bad sign, because it suggests the vaccines might not perform as well, particularly in elderly patients, or that the immunity they provide might not last as long, as various strains of the virus continue to mutate.

However, perhaps due to the optimistic tone of the press release, investors took the news as a positive and bid Moderna shares higher.

Here’s some more details from the FT:

Laboratory tests show Moderna’s Covid-19 jab still works against the variant named 501.V2, which emerged in South Africa, and B.1.1.7, which was first discovered in the UK, the company said. But it warned that the neutralising antibody response to 501.V2 was sixfold lower than to the original variant, raising concerns that immunity to it may wane significantly, particularly in older people.

Moderna has launched a series of trials intended to test its vaccine’s efficacy against several different mutant strains.

But don’t worry, because even though Moderna’s CEO acknowledges that this is an extremely serious situation and the company is preparing for the worst-case scenario, everything is going to be okay.

Stéphane Bancel, Moderna CEO, said the company was preparing for a “worst-case scenario,” even though he had “zero concerns” about the vaccine’s efficacy in the coming months.  “If something needs to be done in the summer, we’ll do something, but we cannot be late,” he told the Financial Times. “We don’t want the virus to win, we want the human race to win.”

That doesn’t exactly sound reassuring.  As it turns out, Moderna is the first vaccine maker in the West to announce a trial for a booster against a new variant, after having its initial jab authorised across the world including in the US, the EU and the UK. Its messengerRNA technology can be quickly adapted for new variants.

The company is working with the US National Institutes of Health on the trials. Mr Bancel said a few thousand trial participants would be given a booster shot, divided into two groups: one to receive the original vaccine again, and another to get a new vaccine formulated to target 501.V2. The trial will also test to see what dose is needed for a booster.

Read the full press release below:

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Jan. 25, 2021– Moderna Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced results from in vitro neutralization studies of sera from individuals vaccinated with Moderna COVID-19 Vaccine showing activity against emerging strains of SARS-CoV-2. Vaccination with the Moderna COVID-19 Vaccine produced neutralizing titers against all key emerging variants tested, including B.1.1.7 and B.1.351, first identified in the UK and Republic of South Africa, respectively. The study showed no significant impact on neutralizing titers against the B.1.1.7 variant relative to prior variants. A six-fold reduction in neutralizing titers was observed with the B.1.351 variant relative to prior variants. Despite this reduction, neutralizing titer levels with B.1.351 remain above levels that are expected to be protective. This study was conducted in collaboration with the Vaccine Research Center (VRC) at the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). The manuscript has been submitted as a preprint to bioRxiv and will be submitted for peer-reviewed publication.

The two-dose regimen of the Moderna COVID-19 Vaccine at the 100 µg dose is expected to be protective against emerging strains detected to date. Nonetheless, Moderna today announced its clinical strategy to proactively address the pandemic as the virus continues to evolve. First, the Company will test an additional booster dose of its COVID-19 Vaccine (mRNA-1273) to study the ability to further increase neutralizing titers against emerging strains beyond the existing primary vaccination series. Second, the Company is advancing an emerging variant booster candidate (mRNA-1273.351) against the B.1.351 variant first identified in the Republic of South Africa. The Company is advancing mRNA-1273.351 into preclinical studies and a Phase 1 study in the U.S. to evaluate the immunological benefit of boosting with strain-specific spike proteins. Moderna expects that its mRNA-based booster vaccine (whether mRNA-1273 or mRNA-1273.351) will be able to further boost neutralizing titers in combination with all of the leading vaccine candidates.

“As we seek to defeat the COVID-19 virus, which has created a worldwide pandemic, we believe it is imperative to be proactive as the virus evolves. We are encouraged by these new data, which reinforce our confidence that the Moderna COVID-19 Vaccine should be protective against these newly detected variants,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Out of an abundance of caution and leveraging the flexibility of our mRNA platform, we are advancing an emerging variant booster candidate against the variant first identified in the Republic of South Africa into the clinic to determine if it will be more effective to boost titers against this and potentially future variants.”

First detected in September 2020 in the United Kingdom, the SARS-CoV-2 B.1.1.7 variant has seventeen mutations in the viral genome with eight mutations located in the spike (S) protein. The B.1.351 variant, first detected in South Africa, has ten mutations located in the spike (S) protein. Both variants have spread at a rapid rate and are associated with increased transmission and a higher viral burden after infection1,2.

The in vitro study assessed the ability of mRNA-1273 to elicit potently neutralizing antibodies against the new SARS-CoV-2 variants, using sera from eight Phase 1 clinical trial participants (aged 18-55 years) who received two 100 µg doses of mRNA-1273, and separately using sera from non-human primates (NHPs) immunized with two doses of 30 µg or 100 µg of mRNA-1273.

For the B.1.1.7 variant, neutralizing antibody titers remained high and were generally consistent with neutralizing titers relative to prior variants. No significant impact on neutralization was observed from either the full set of mutations found in the B.1.1.7 variant or from specific key mutations of concern. Although these mutations have been reported to lessen neutralization from convalescent sera and to increase infectivity, sera from the Phase 1 participants and NHPs immunized with mRNA-1273 were able to neutralize the B.1.1.7 variant to the same level as prior variants.

For the B.1.351 variant, vaccination with the Moderna COVID-19 Vaccine produces neutralizing antibody titers that remain above the neutralizing titers that were shown to protect NHPs against wildtype viral challenge. While the Company expects these levels of neutralizing antibodies to be protective, pseudovirus neutralizing antibody titers were approximately 6-fold lower relative to prior variants. These lower titers may suggest a potential risk of earlier waning of immunity to the new B.1.351 strains.

Tyler Durden
Mon, 01/25/2021 – 09:31

via ZeroHedge News https://ift.tt/3og4iSY Tyler Durden

How the CDC Bungled Testing of Early COVID-19 Quarantine Patients

zumaglobalten470899

CDC said no to COVID-19 testing for asymptomatic quarantine patients. Reuters explores how the U.S. Centers for Disease Control and Prevention (CDC) “missed chances to spot COVID’s silent spread,” finding plenty of blame to go around.

Critics have widely asserted that the CDC fumbled key decisions during the coronavirus scourge because then-President Donald Trump and his administration meddled in the agency’s operations and muzzled internal experts. The matter is now the subject of a congressional inquiry. Yet Reuters has found new evidence that the CDC’s response to the pandemic also was marred by actions – or inaction – by the agency’s career scientists and frontline staff.

At a crucial moment in the pandemic when Americans were quarantined after possible exposure to the virus abroad, the agency declined or resisted potentially valuable opportunities to study whether the disease could be spread by those without symptoms, according to previously undisclosed internal emails, other documents and interviews with key players.

The CDC first refused to test a group of Americans evacuated from Wuhan, China, in early February 2020.

“It is CDC’s position that since the research is being proposed for a group of individuals who are detained under a federal quarantine order, the circumstances of voluntary participation would be extremely difficult to assure and therefore, CDC does not approve this study,” the CDC told researchers at Camp Ashland, where those returning from Wuhan were being quarantined.

The CDC also resisted testing asymptomatic people evacuated from the Diamond Princess cruise ship later that month.

“It’s difficult to know whether more aggressive early testing among asymptomatic people would have significantly altered the trajectory of the pandemic in the United States, which has infected 24 million people and killed more than 400,000,” says Reuters.

But in reality, it would take months before the CDC and other government officials took asymptomatic spread seriouslywhile testing protocols, stay-at-home advisories, and other rules and precautions were developed around the premise that infected people would almost always have a fever, cough, loss of smell, and other common symptoms.

In those early months of the pandemic, a lot of people who were exposed to COVID-19 but hadn’t yet developed symptoms struggled to get tests, thanks to CDC recommendations and state and local testing protocols that overlooked asymptomatic cases. Without symptoms or permission to be tested, many potentially infected people continued to work, see family, and more.

People making personal decisions about what activities to engage in also relied on that calculation, as did employers when setting worker absence policies. To this day, many people who are exposed to COVID-19 think that not developing symptoms within a few days is a sign they’re in the clear.

Government guidance only goes so far, but it’s not crazy to think that better, earlier CDC guidance on asymptomatic spread could have helped mitigate misinformation about COVID-19 and some of the spread.

Toward the end of last February, the CDC did begin to allow testing of asymptomatic quarantined people, finding at least 10 asymptomatic cruise ship passengers who tested positive for the COVID-19. Yet the agency still didn’t update its testing guidance on asymptomatic infections.

It would be almost another month before the agency started publicly acknowledging it happened and almost two months until, on April 27, it expanded the recommendations to sometimes include “persons without symptoms.” The change came 11 weeks after the first U.S. army base researcher had asked the CDC for permission to test asymptomatic quarantine patients who consented.


FREE MINDS

Art project stresses continuity between sex worker activism in early 1900s and today. “On Jan. 25, 1917, sex workers in San Francisco marched to the Central Methodist Church to meet with Rev. Paul Smith, who had organized a campaign to rid and protect the city from vice. This was the first sex worker-led protest in the U.S.,” writes Kaytlin Bailey, founder of the Old Pro Project, at The Daily Beast.

Old Pro Project is commemorating the historic push for sex worker rights and decriminalization with a series of art advocacy projects created by sex workers in New Orleans, New York, Portland, San Francisco, and Seattle.


FREE MARKETS

Why the Parler case is a success story for Section 230. “Initially, civil liberties advocates (including us) were shocked at the speed and coordination with which Parler was taken down and Trump de-platformed,” notes the Internet Governance Project. (Yep.)

But “now that the dust has settled, however, the charge of ‘private sector censorship’ looks overstated,” suggests Milton Mueller. “Indeed, the overall functioning of the legal and policy regime governing US platforms ends up looking pretty good in this case – especially when compared to the alternatives.”

Mueller finds three conclusions to be drawn from the Parler case, including “the major platforms are not ‘the Internet'” and “international anarchy has its upside.” Mueller also says the case demonstrates how Section 230 is working:

Social media are being simultaneously blamed for having too much control over speech and for letting speech be completely out of control. Both sides of this divide fail to appreciate the way immunities and distributed private actor responsibilities walked a fine line between control and freedom.

The Section 230-based legal regime is a way of reconciling free political expression with the need to limit or remove certain kinds of speech from the public sphere. A potential threat to public safety was addressed, but not in a rigid, permanent and coercive way, not through state action, but through contractual arrangements and private ordering. The response is distributed, flexible and ongoing, just as social media content is. And if the response was too harsh, as it inevitably will be in some cases, there were still spaces where the suppressed entity could regroup and try to grow again. A state actor-driven response is going to be a lot more binary and a lot less correctible in cases of excess. Passing a law would impose a single, uniform standard, which would inevitably be applied in a way that would serve the interests of those in power and marginalize challengers.


QUICK HITS

from Latest – Reason.com https://ift.tt/3pivD8z
via IFTTT