- the latest data from South Africa
- the major findings from preliminary vaccine studies
- the lessons of specific outbreaks in Oslo and the NYC anime convention
Case growth is absolutely ferocious, and the evidence of breakthroughs is overwhelming. The estimated reproduction rate is higher than any other point of the pandemic. Omicron is spreading very, very fast right now.
SOUTH AFRICA p2
The share of hospitalized patients in the ICU or on O2 is 50% lower than during same stage of Delta. Some evidence that the avg hospital patient is being discharged faster, too.
I was willing to write off these kind of quotes as hopium. But, for now, they match the data.
~CAUTION INTERLUDE~
The absence of bad news on severe illness is ... good news. But none of this proves the virus has mutated to become less severe. We can't rule out possibility that Omicron is similarly virulent but SA's immunity profile (eg, high Delta exposure) is distinct.
THE EARLY RESEARCH p1
The South Africa study: Huge drop in neutralizing antibodies vs Omicron. Worrying. But hybrid immunity—prior infection + vax—was "outstanding." And 3 doses may partially recapitulate that.
NB: Plasma study for NAbs is v imperfect snapshot of protection.
THE EARLY RESEARCH p2
From Sweden and Germany: Similar tests, similar results. Antibodies from people with 2 doses of Pfizer fared poorly against Omicron. Worrying for breakthroughs. But imperfect proxy for protection & immune system includes killer Ts these studies can't assess
THE EARLY RESEARCH p3
The Pfizer study: Very similar upshot. "Preliminary lab studies demonstrate that three doses of the Pfizer-BioNTech COVID-19 Vaccine neutralize the Omicron variant while two doses show significantly reduced neutralization titers."
All attendees required to have at least 1 shot. In one cluster of 35 ppl, 15 tested positive for COVID, likely all Omicron. Of those, 14 had mild symptoms—one had "a bad day.”
For now, they offer a similar takeaway as the South Africa data and the preliminary studies. For the vaccinated in particular, the theme is: an abundance of breakthroughs + a relative scarcity of severe illness.
My big Omicron takeaway for now is:
- optimism for the boosted
- anticipating high breakthrough rates for non-boosted but vaxxed; hopeful for mild illness
- uncertainty for the unvaccinated
- fear for the elderly and the under-vaccinated global South
“High transmissibility, high breakthrough rate, low observed severity per infection” has been the story for about a week—and I don’t think I’ve seen anything to change it yet.
1. It's not about "quitting", but low-wage job-switching (ht @JHWeissmann)
2. It actually has very little to do with professional burnout
3. It's more about early retirement than news reports suggest
(1) The Great Resignation isn't actually about what most people think of as "resignations."
The low-wage service-sector economy is experiencing the equivalent of “free agency” in a professional sports league. That makes it more like the Big Switch than the Big Quit.
Restaurants and hotels have been hardest hit by the Great Resignation.
So, are they shrinking?
No! Accommodations and food services added ~2 million employees in 2021! That's almost one out of every three net new jobs this year. They're raising wages and scrambling to hire.
In the biggest picture, it's pretty ridiculous that US college credentialism increased exponentially in the 20th century ... but the US higher education system stopped making elite physical universities in the 19th century.
An important/interesting exception is the unfurling of the UC system, which got its start in 1868. UCLA was founded in 1919 and UCSD in 1960.
Still means the youngest of the v good physical universities are near Social Security eligibility in age.
what i should have said:
the significance of college attainment in the US economy has grown by a lot during a period in which there's been very scarce expansion, experimentation, or invention in higher ed. no matter what you make of today's news, that's bad!
One big-picture lesson of the cascade of failures from the CDC, FDA, and the great COVID test debacle is that American science badly needs a scientific revolution of its own.
Our 20th-century institutions aren't enough to guide 21st-century progress.
This is a piece about Fast Grants—an Operation Warp Speed for scientific funding, from @tylercowen and @patrickc—but it's also about how Fast Grant's success is an important indictment of a big, broken scientific funding system.
I've spent a lot of time the last few months thinking about the problems in the way we fund scientific discovery.
And I think one summary of that reporting is that American science suffers from 3 big paradoxes—of trust, expertise, and experimentation.
The gap between the "real" vs "observed" economy is an interesting recent theme
2017: Democratic econ confidence dips (but things are fine!)
Late 2020: GOP confidence dips (but things are getting better!)
Today: Consumer sentiment in the dumps (but the economy's kinda booming!)
I don't want to overplay the boominess of the economy. Gas prices are up, the supply chain's a mess, buying a car is a nightmare, etc.
What's interesting, however, is that personal finances are in good shape, while consumers expectations are at *decade lows*
"... a complete rout of net favorable views of buying conditions: household durables fell to the lowest level since 1980, vehicles fell to the lowest level since 1974, and homes to the lowest level since 1982 ... all due to complaints about high prices"