Covid-2019 - 2022-12-27

The media continues to flog the story that China is collapsing into chaos after re-opening from "Zero Covid" lockdowns. Mr. Market seems more worried that a re-opening China will put inflationary demand stress on commodities. But wait! Before that, wasn't Mr. Market worried that a locked-down China would put inflationary stress on supply chains? 

Meanwhile, Justice Neil Gorsuch shows what true "originalist" principles are: he votes with the Supreme Court's liberals to end Title 42 border restrictions, because (no matter what you may think about border crossings at this point) you can't justify stopping them based on a Covid emergency that doesn't exist anymore. Nevertheless, the majority felt differently (with no explanation at all) -- so the restrictions stand.