loss of purchasing power over time, meaning your dollar will not go as far tomorrow as it did today. It is typically expressed as the annual change in prices for everyday goods and services such as food, furniture, apparel, transportation costs and toys.

Americans found themselves with a lot of money in the bank, and as they spent that money on goods, demand collided with a global supply chain that was too fragile to catch up.

Virus outbreaks shut down factories, ports faced backlogs and a dearth of truckers roiled transit routes. Americans still managed to buy more goods than ever before in 2021, and foreign factories sent a record sum of products to U.S. shops and doorsteps. But all that shopping wasn’t enough to satisfy consumer demand.

stop spending at the start of the pandemic helped to swell savings stockpiles.

And the Federal Reserve’s interest rates are at rock bottom, which has bolstered demand for big purchases made on credit, from houses and cars to business investments like machinery and computers. Families have been taking on more housing and auto debt, data from the Federal Reserve Bank of New York shows, helping to pump up those sectors.

But if stimulus-driven demand is fueling inflation, the diagnosis could come with a silver lining. It may be easier to temper consumer spending than to rapidly reorient tangled supply lines.

People may naturally begin to buy less as government help fades. Spending could shift away from goods and back toward services if the pandemic abates. And the Fed’s policies work on demand — not supply.

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Stock Markets Off to Worst Start Since 2016 as Fed Fights Inflation

After falling for a fourth day in a row on Friday, the stock market suffered its worst week in nearly two years, and so far in January the S&P 500 is off to its worst start since 2016. Technology stocks have been hit especially hard, with the Nasdaq Composite Index dropping more than 10 percent from its most recent high, which qualifies as a correction in Wall Street talk.

That’s not all. The bond market is also in disarray, with rates rising sharply and bond prices, which move in the opposite direction, falling. Inflation is red hot, and supply chain disruptions continue.

Until now, the markets looked past such issues during the pandemic, which brought big increases in the value of all kinds of assets.

Yet a crucial factor has changed, which gives some market watchers reason to worry that the recent decline may be consequential. That element is the Federal Reserve.

intervened to save desperately wounded financial markets back in early 2020.

This could be a good thing if it beats back inflation without derailing the economic recovery. But removing this support also inevitably cools the markets as investors move money around, searching for assets that perform better when interest rates are high.

“The Fed’s policies basically got the current bull market started,” said Edward Yardeni, an independent Wall Street economist. “I don’t think they are going to end it all now, but the environment is changing and the Fed is responsible for a lot of this.”

The central bank is tightening monetary policy partly because it has worked. It helped stimulate economic growth by holding short-term interest rates near zero and pumping trillions of dollars into the economy.

This flood of easy money also contributed to the rapid rise in prices of commodities, like food and energy, and financial assets, like stocks, bonds, homes and even cryptocurrency.

said in 1955, the central bank finds itself acting as the adult in the room, “who has ordered the punch bowl removed just when the party was really warming up.”

The mood of the markets shifted on Jan. 5, Mr. Yardeni said, when Fed officials released the minutes of their December policymaking meeting, revealing that they were on the verge of embracing a much tighter monetary policy. A week later, new data showed inflation climbing to its highest level in 40 years.

Putting the two together, it seemed, the Fed would have no choice but to react to curb rapidly rising prices. Stocks began a disorderly decline.

Financial markets now expect the Fed to raise its key interest rate at least three times this year and to start to shrink its balance sheet as soon as this spring. It has reduced the level of its bond buying already. Fed policymakers will meet next week to decide on their next steps, and market strategists will be watching.

Low interest rates made certain sectors especially appealing, foremost among them tech stocks. The S&P 500 information technology sector, which includes Apple and Microsoft, has risen 54 percent on an annualized basis since the market’s pandemic-induced trough in March 2020. One reason for this is that low interest rates amplify the value of the expected future returns of growth-oriented companies like these. If rates rise, this calculus can change abruptly.

The very prospect of higher interest rates has made technology the worst-performing sector in the S&P 500 this year. Since its peak in late December, it has fallen more than 11 percent.

The S&P’s three best-performing sectors in the early days of 2022, on the other hand, are energy, financial services and consumer staples.

like Netflix and Peloton, have begun to flag as people venture out more.

Some astute market analysts foresee bigger problems. Jeremy Grantham, one of the founders of GMO, an asset manager, predicts a catastrophic end to what he calls a “superbubble.”

But the current losses could be beneficial if they let a little air out of a potential bubble, without bursting investor portfolios. This year’s declines erase only a small share of the market’s gains in recent years: The S&P 500 rose nearly 27 percent last year, more than 16 percent in 2020 and nearly 29 percent in 2019.

And the prospects for corporate earnings remain good. Once the Fed starts to act, and the effects are better understood, the stock market party could continue — at a less giddy pace.

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Your Inflation Questions, Answered

Inflation is high and has been for months. It’s weighing on consumer confidence, making policymakers nervous and threatening to eat away at household paychecks well into 2022.

This is the first time many adults have experienced meaningful inflation: Price gains had been largely quiescent since the late 1980s. When the Consumer Price Index climbed 7 percent in the year through December, it was the fastest pace since 1982.

Naturally, people have questions about what this will mean for their pocketbooks, their finances and their economic futures.

Closely intertwined with price worries are concerns about interest rates: The Federal Reserve is poised to raise borrowing costs to try to slow down demand and keep the situation under control.

furniture and camping gear.

That rapid consumption is running up against constrained supply. Factories shut down early in the pandemic, and in parts of Asia, they continue to do so as Omicron cases surge. There aren’t enough containers to ship all of the goods people want to buy, and ports have become clogged trying to process so many imports.

expanding their profits.

In theory, competition should eat away at extra earnings over time. New firms should jump into the market to sell that same products for less and steal away the customer. Existing competitors should ramp up production to meet demand.

But this may be a unappealing time for new firms to enter the market. Established companies may be hesitant to expand production if doing so involved a lot of investment, because it is not clear how long today’s strong demand will last.

“It is a very uncertain environment,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank. “A new firm stepping in is a lot of investment, with a lot of financial risk.”

Until companies can produce and transport enough of a given product to go around — as long as shortages remain — companies will be able to raise prices without running much risk of losing customers to a competitor.

In past periods of inflation, do employers typically increase wages or award higher-than-average yearly increases to help employees offset inflation? If so, in what industries is this practice most common? — Annmarie Kutz, Erie, Pa.

There is no standard historical experience with wages and inflation, Mary C. Daly, president of the Federal Reserve Bank of San Francisco, said during an interview with The New York Times on Twitter Spaces last week.

lower-wage service industries have been competing mightily for workers in recent months, and pay is climbing faster there.

“The history isn’t so clear that cost of living translates into higher wages, but that’s largely because inflation has been low and stable for a very long time,” Ms. Daly said.

in December projected that price gains will drop back below 3 percent by the end of the year, and will level off to normal levels over the longer term.

are adjusted for inflation, so those should keep pace with price gains. Bonds that pay back fixed rates do less well during periods of inflation, while stock investments — though riskier — tend to rise more quickly than consumer prices. Ms. Benz recommends holding assets across an array of securities, potentially including inflation-protected securities such as some exchange-traded funds or Treasury Inflation Protected Securities, commonly called TIPS.

“It argues against having too much in cash,” Ms. Benz said. “That’s too much dead money.”

We currently have low unemployment, strong wage growth (largely through attrition / voluntary retirements), easy monetary policy and now rising inflation. What are other periods of time when the United States had these conditions? How did things work out then? — Harshal Patel, Moorestown, N.J.

Jared Bernstein, a member of the White House Council of Economic Advisers, pointed to the post-World War II period as a reference point for the present moment.

“Demand was strong, and supply was constrained,” he said in an interview. “That’s a very instructive path for us.”

The good news about that example is that supply eventually caught up, and prices came down without spurring any greater crisis.

Other, more worried commentators have drawn parallels between now and the 1970s, when the Fed was slow to raise rates as unemployment fell and prices rose — and inflation jumped out of control. But many economists have argued that important differences separate that period from this one: Workers were more heavily unionized and may have had more bargaining power to push for higher wages back then, and the Fed was slow to react for years on end. This time, it’s already gearing up to respond.

about price controls in a recent article, and vocal minority think the 1970s experience unfairly tarnished the idea and that it might be worthwhile to reopen the debate.

“This is a great suppressed topic,” said James K. Galbraith, an economist at the University of Texas. “It was absolutely mainstream from the start of World War II until the Reagan administration.”

If inflation is being caused by supply chain problems, how will raising interest rates help? — Larry Harris, Ventura, Calif.

Kristin J. Forbes, an economist at the Massachusetts Institute of Technology, said that a big part of today’s inflation ties to roiled supply chains, which monetary policy can’t do much to fix.

But trade is actually happening at elevated levels even amid the disruptions. Factories are producing, ships are shipping, and consumers are buying at a rapid clip. It is just that supply is not keeping up with that booming demand. Higher interest rates can relieve pressure on demand, making it more expensive to buy a boat or a car, cooling off the housing market and slowing business investment.

“A good part of the supply chain problems, you can’t do anything about,” Ms. Forbes said. “But you can affect demand. And it is the combination of the two which determines inflation.”

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Supply Chain Woes Could Worsen as China Imposes Covid Lockdowns

WASHINGTON — Companies are bracing for another round of potentially debilitating supply chain disruptions as China, home to about a third of global manufacturing, imposes sweeping lockdowns in an attempt to keep the Omicron variant at bay.

The measures have already confined tens of millions of people to their homes in several Chinese cities and contributed to a suspension of connecting flights through Hong Kong from much of the world for the next month. At least 20 million people, or about 1.5 percent of China’s population, are in lockdown, mostly in the city of Xi’an in western China and in Henan Province in north-central China.

The country’s zero-tolerance policy has manufacturers — already on edge from spending the past two years dealing with crippling supply chain woes — worried about another round of shutdowns at Chinese factories and ports. Additional disruptions to the global supply chain would come at a particularly fraught moment for companies, which are struggling with rising prices for raw materials and shipping along with extended delivery times and worker shortages.

China used lockdowns, contact tracing and quarantines to halt the spread of the coronavirus nearly two years ago after its initial emergence in Wuhan. These tactics have been highly effective, but the extreme transmissibility of the Omicron variant poses the biggest test yet of China’s system.

Volkswagen and Toyota announced last week that they would temporarily suspend operations in Tianjin because of lockdowns.

Analysts warn that many industries could face disruptions in the flow of goods as China tries to stamp out any coronavirus infections ahead of the Winter Olympics, which will be held in Beijing next month. On Saturday, Beijing officials reported the city’s first case of the Omicron variant, prompting the authorities to lock down the infected person’s residential compound and workplace.

If extensive lockdowns become more widespread in China, their effects on supply chains could be felt across the United States. Major new disruptions could depress consumer confidence and exacerbate inflation, which is already at a 40-year high, posing challenges for the Biden administration and the Federal Reserve.

“Will the Chinese be able to control it or not I think is a really important question,” said Craig Allen, the president of the U.S.-China Business Council. “If they’re going to have to begin closing down port cities, you’re going to have additional supply chain disruptions.”

thrown the global delivery system out of whack. Transportation costs have skyrocketed, and ports and warehouses have experienced pileups of products waiting to be shipped or driven elsewhere while other parts of the supply chain are stymied by shortages.

For the 2021 holiday season, customers largely circumvented those challenges by ordering early. High shipping prices began to ease after the holiday rush, and some analysts speculated that next month’s Lunar New Year, when many Chinese factories will idle, might be a moment for ports, warehouses and trucking companies to catch up on moving backlogged orders and allow global supply chains to return to normal.

But the spread of the Omicron variant is foiling hopes for a fast recovery, highlighting not only how much America depends on Chinese goods, but also how fragile the supply chain remains within the United States.

American trucking companies and warehouses, already short of workers, are losing more of their employees to sickness and quarantines. Weather disruptions are leading to empty shelves in American supermarkets. Delivery times for products shipped from Chinese factories to the West Coast of the United States are as long as ever — stretching to a record high of 113 days in early January, according to Flexport, a logistics firm. That was up from fewer than 50 days at the beginning of 2019.

The Biden administration has undertaken a series of moves to try to alleviate bottlenecks both in the United States and abroad, including devoting $17 billion to improving American ports as part of the new infrastructure law. Major U.S. ports are handling more cargo than ever before and working through their backlog of containers — in part because ports have threatened additional fees for containers that sit too long in their yards.

Yet those greater efficiencies have been undercut by continuing problems at other stages of the supply chain, including a shortage of truckers and warehouse workers to move the goods to their final destination. A push to make the Port of Los Angeles operate 24/7, which was the centerpiece of the Biden administration’s efforts to address supply chain issues this fall, has still seen few trucks showing up for overnight pickups, according to port officials, and cargo ships are still waiting for weeks outside West Coast ports for their turn for a berth to dock in.

work slowdowns and shipping delays.

“If you have four closed doors to get through and one of them opens up, that doesn’t necessarily mean quick passage,” said Phil Levy, the chief economist at Flexport. “We should not delude ourselves that if our ports become 10 percent more efficient, we’ve solved the whole problem.”

Chris Netram, the managing vice president for tax and domestic economic policy at the National Association of Manufacturers, which represents 14,000 companies, said that American businesses had seen a succession of supply chain problems since the beginning of the pandemic.

“Right now, we are at the tail end of one flavor of those challenges, the port snarls,” he said, adding that Chinese lockdowns could be “the next flavor of this.”

Manufacturers are watching carefully to see whether more factories and ports in China might be forced to shutter if Omicron spreads in the coming weeks.

Neither Xi’an nor Henan Province, the site of China’s most expansive lockdowns, has an economy heavily reliant on exports, although Xi’an does produce some semiconductors, including for Samsung and Micron Technology, as well as commercial aircraft components.

Handel Jones, the chief executive of International Business Strategies, a chip consultancy, said the impact on Samsung and Micron would be limited, but he expressed worries about the potential for broader lockdowns in cities like Tianjin or Shanghai.

stay away from any vehicle collisions involving Olympic participants, to avoid infection.

Last year, terminal shutdowns in and around Ningbo and Shenzhen, respectively the world’s third- and fourth-largest container ports by volume, led to congestion and delays, and caused some ships to reroute to other ports.

But if the coronavirus does manage to enter a big port again, the effects could quickly be felt in the United States. “If one of the big container terminals goes into lockdown,” Mr. Huxley said, “it doesn’t take long for a big backlog to develop.”

Airfreight could also become more expensive and harder to obtain in the coming weeks as China has canceled dozens of flights to clamp down on another potential vector of infection. That could especially affect consumer electronics companies, which tend to ship high-value goods by air.

For American companies, the prospect of further supply chain troubles means there may be another scramble to secure Chinese-made products ahead of potential closures.

Lisa Williams, the chief executive of the World of EPI, a company that makes multicultural dolls, said the supply chain issues were putting pressure on companies like hers to get products on the shelves faster than ever, with retailers asking for goods for the fall to be shipped as early as May.

Dr. Williams, who was an academic specializing in logistics before she started her company, said an increase in the price of petroleum and other raw materials had pushed up the cost of the materials her company uses to make dolls, including plastic accessories, fibers for hair, fabrics for clothing and plastic for the dolls themselves. Her company has turned to far more expensive airfreight to get some shipments to the United States faster, further cutting into the firm’s margins.

“Everything is being moved up because everyone is anticipating the delay with supply chains,” she said. “So that compresses everything. It compresses the creativity, it compresses the amount of time we have to think through innovations we want to do.”

Ana Swanson reported from Washington, and Keith Bradsher from Beijing.

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Hayward Adding Derek Spearman in New Vice President of US Manufacturing Position

BERKELEY HEIGHTS, N.J.–(BUSINESS WIRE)–Hayward Holdings, Inc. (NYSE: HAYW) (“Hayward”), global designer, manufacturer and marketer of a broad portfolio of pool equipment and technology, announces that Derek Spearman is joining the company as the Vice President of US Manufacturing. In this newly created role, Spearman will be responsible for all plant and planning operations for the company’s US-based plants.

I am honored to join the Hayward team, and I look forward to continuing to build upon its solid foundation,” Spearman said. “Hayward is uniquely positioned to capitalize on the rapidly changing manufacturing environment thanks to its great business model and talented management team. This is a tremendous opportunity, and I am looking forward to making an impact.”

Spearman is joining Hayward’s Global Operations Staff, which is led by Senior Vice President and Chief Supply Chain Officer Donald Smith.

Derek Spearman is joining Hayward in a new and vitally-important role where he will add additional experience, capacity and quality to what is already a world-class Operations team. Hayward will benefit greatly from Derek’s expertise in domestic and international operations leadership, Lean Manufacturing deployment, and strategic capacity and operational footprint design. I am excited for him to get started,” Smith said.

Spearman is joining Hayward after spending four years at Timken Company where he was the Vice President of Lovejoy Incorporated. At Timken, Spearman directed operations at five domestic and international plants staffed by more than 400 people, and he managed budgets exceeding $100 million.

Spearman has also previously held roles as a Director of Operations, Plant Manager, Six Sigma Blackbelt Lean Leader, Quality Director, and Area Manager with organizations such as GKN Driveline, Matcor-Matsu Group, Ford Motor Company, Eli Lilly, and Whirlpool Corporation.

Spearman earned an MBA from Webster University and a Bachelor of Science from Purdue University.

About Hayward Holdings, Inc.

Hayward Holdings, Inc. (NYSE:HAYW) is a leading global designer and manufacturer of pool equipment and technology all key to the SmartPad™ conversion strategy designed to provide a superior outdoor living experience. Hayward offers a full line of innovative, energy-efficient and sustainable residential and commercial pool equipment, including a complete line of advanced pumps, filters, heaters, automatic pool cleaners, LED lighting, internet of things (IoT) enabled controls, alternate sanitizers and water features.

This release contains forward-looking statements and information relating to the Company that are based on the beliefs of management as well as assumptions made by, and information currently available to management. When used in this release, words such as “may,” “will,” “should,” “could,” “intend,” “potential,” “continue,” “anticipate,” “believe,” “estimate,” “expect,” “plan,” “target,” “predict,” “project,” “seek” and similar expressions as they relate to us are intended to identify forward-looking statements. These statements reflect management’s current views with respect to future events, are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Further, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. Hayward has based these forward-looking statements largely on management’s current expectations and projections about future events and financial trends that management believes may affect Hayward’s business, financial condition and results of operations. Important factors that could affect Hayward’s future results and could cause those results or other outcomes to differ materially from those indicated in the forward-looking statements include the following: our ability to execute on our growth strategies and expansion opportunities; our ability to maintain favorable relationships with suppliers and manage disruptions to our global supply chain and the availability of raw materials; our relationships with and the performance of distributors, builders, buying groups, retailers and servicers who sell our products to pool owners; competition from national and global companies, as well as lower cost manufacturers; impacts on our business from the sensitivity of our business to seasonality and unfavorable economic and business conditions; our ability to identify emerging technological and other trends in our target end markets; our ability to develop, manufacture and effectively and profitably market and sell our new planned and future products; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; our ability to attract and retain senior management and other qualified personnel; regulatory changes and developments affecting our current and future products; volatility in currency exchange rates; our ability to service our existing indebtedness and obtain additional capital to finance operations and our growth opportunities; impacts on our business from political, regulatory, economic, trade, and other risks associated with operating foreign businesses; our ability to establish and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing, misappropriating or otherwise violating the intellectual property rights of others; the impact of material cost and other inflation; the impact of changes in laws, regulations and administrative policy, including those that limit US tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; impacts on our business from the COVID-19 pandemic; and other risks and uncertainties set forth under “Risk Factors” in the prospectus for Hayward’s initial public offering and in Hayward’s subsequent SEC filings.

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Hackers Bring Down Government Sites in Ukraine

Often, untangling the digital threads of such cyberoperations can takes days or weeks, which is one of the appeals of their use in modern conflicts. Sophisticated cybertools have turned up in standoffs between Israel and Iran, and the United States blamed Russia for using hacking to influence the 2016 election in the United States to benefit Donald J. Trump.

Ukraine has long been viewed as a testing ground for Russian online operations, a sort of free-fire zone for cyberweaponry in a country already entangled in a real world shooting war with Russian-backed separatists in two eastern provinces. The U.S. government has traced some of the most drastic cyberattacks of the past decade to Russian actions in Ukraine.

Tactics seen first in Ukraine have later popped up elsewhere. A Russian military spyware strain called X-Agent or Sofacy that Ukrainian cyber experts say was used to hack Ukraine’s Central Election Commission during a 2014 presidential election, for example, was later found in the server of the Democratic National Committee in the United States after the electoral hacking attacks in 2016.

Other types of malware like BlackEnergy, Industroyer and KillDisk, intended to sabotage computers used to control industrial processes, shut down electrical substations in Ukraine in 2015 and 2016, causing blackouts, including in the capital, Kyiv.

The next year, a cyberattack targeting Ukrainian businesses and government agencies that spread, perhaps inadvertently, around the world in what Wired magazine later called “the most devastating cyberattack in history.” The malware, known as NotPetya, had targeted a type of Ukrainian tax preparation software but apparently spun out of control, according to experts.

The attack initially seemed narrowly focused on the conflict between Ukraine and Russia. It coincided with the assassination of a Ukrainian military intelligence officer in a car bombing in Kyiv and the start of an E.U. policy granting Ukrainians visa-free travel, an example of the type of integration with the West that Russia has opposed.

But NotPetya spread around the world, with devastating results, illustrating the risks of collateral damage from military cyberattacks for people and businesses whose lives are increasingly conducted online, even if they live far from conflict zones. Russian companies, too, suffered when the malware started to circulate in Russia.

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The Army of Millions Who Enforce China’s Zero-Covid Policy

China’s “zero Covid” policy has a dedicated following: the millions of people who work diligently toward that goal, no matter the human costs.

In the northwestern city of Xi’an, hospital employees refused to admit a man suffering from chest pains because he lived in a medium-risk district. He died of a heart attack.

They informed a woman who was eight months pregnant and bleeding that her Covid test wasn’t valid. She lost her baby.

Two community security guards told a young man they didn’t care that he had nothing to eat after catching him out during the lockdown. They beat him up.

a strict lockdown in late December when cases were on the rise. But it was not prepared to provide food, medical care and other necessities to the city’s 13 million residents, creating chaos and crises not seen since the country first locked down Wuhan in January 2020.

the weaknesses in China’s authoritarian system. Now, with patients dying of non-Covid diseases, residents going hungry and officials pointing fingers, the lockdown in Xi’an has shown how the country’s political apparatus has ossified, bringing a ruthlessness to its single-minded pursuit of a zero-Covid policy.

Xi’an, the capital of Shaanxi Province, is in a much better position than Wuhan in early 2020, when thousands of people died of the virus, overwhelming the city’s medical system. Xi’an has reported only three Covid-related deaths, the last one in March 2020. The city said 95 percent of its adults were vaccinated by July. In the latest wave, it had reported 2,017 confirmed cases by Monday and no deaths.

read a self-criticism letter in front of a video camera. “I only cared about whether I had food to eat,” the young man read, according to a widely shared video. “I didn’t take into account the serious consequences my behavior could bring to the community.” The volunteers later apologized, according to The Beijing News, a state media outlet.

Three men were caught while escaping from Xi’an to the countryside, possibly to avoid the high costs of the lockdown. They hiked, biked and swam in wintry days and nights. Two of them were detained by the police, according to local police and media reports. Together they were called the “Xi’an ironmen” on the Chinese internet.

Then there were the hospitals that denied patients access to medical care and deprived their loved ones the chance to say goodbye.

The man who suffered chest pain as he was dying of a heart attack waited six hours before a hospital finally admitted him. After his condition worsened, his daughter begged hospital employees to let her in and see him for the last time.

A male employee refused, according to a video she posted on Weibo after her father’s death. “Don’t try to hijack me morally,” he said in the video. “I’m just carrying out my duty.”

commented that some local officials were simply blaming their underlings. It seemed, the broadcaster wrote, only low-level cadres have been punished for these problems.

There are reasons people in the system showed little compassion and few spoke up online.

An emergency room doctor in eastern Anhui Province was sentenced to 15 months in prison for failing to follow pandemic control protocols by treating a patient with a fever last year, according to CCTV.

A deputy director-level official at a government agency in Beijing lost his position last week after some social media users reported that an article he wrote about the lockdown in Xi’an contained untruthful information.

In the article, he called the lockdown measures “inhumane” and “cruel.” It bore the headline “The Sorrow of Xi’an Residents: Why They Ran Away from Xi’an at the Risk of Breaking the Law and Death.”

diary, no citizen journalists Chen Qiushi, Fang Bin or Zhang Zhan posting videos. The four of them have either been silenced, detained, disappeared or left dying in jail — sending a strong message to anyone who might dare to speak out about Xi’an.

The only widely circulated, in-depth article about the Xi’an lockdown was written by the former journalist Zhang Wenmin, a Xi’an resident known by her pen name, Jiang Xue. Her article has since been deleted and state security officers have warned her not to speak further on the matter, according to a person close to her. Some social media users called her garbage that should be taken out.

A few Chinese publications that had written excellent investigative articles out of Wuhan didn’t send reporters to Xi’an because they couldn’t secure passes to walk freely under lockdown, according to people familiar with the situation.

The Xi’an lockdown debacle hasn’t seemed to convince many people in China to abandon the country’s no-holds-barred approach to pandemic control.

told Xi’an officials on Monday that their future pandemic control efforts should remain “strict.”

“A needle-size loophole can funnel high wind,” he said.

Claire Fu contributed research.

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In Talks on Ukraine, U.S. and Russia Deadlock Over NATO Expansion

GENEVA — The United States and Russia emerged from seven hours of urgent negotiations on Monday staking out seemingly irreconcilable positions on the future of the NATO alliance and the deployment of troops and weapons in Eastern Europe, keeping tensions high amid fears of a Russian invasion of Ukraine.

Deputy Foreign Minister Sergei A. Ryabkov, Russia’s lead negotiator, insisted after the meeting that it was “absolutely mandatory” that Ukraine “never, never, ever” become a NATO member.

His American counterpart, Deputy Secretary of State Wendy Sherman, reiterated that the United States could never make such a pledge because “we will not allow anyone to slam closed NATO’s open door policy,” and she said that the United States and its allies would not stand by if Russia sought to change international borders “by force.’’

The impasse left the fate of Ukraine — which was not invited to the bilateral talks — in a state of uncertainty, with Russia’s military intentions far from resolved following hastily-scheduled meetings between Ms. Sherman and Mr. Ryabkov on Sunday night and on Monday.

massed roughly 100,000 troops on its borders with Ukraine, Mr. Ryabkov told reporters “we have no intention to invade Ukraine.” And both sides offered some positive assessments.

Ms. Sherman, talking to reporters via phone after Monday’s meeting, said that she saw some areas where the two countries could make progress, and Mr. Ryabkov described the talks as “very professional, deep, concrete” and that their tone “makes one more optimistic.’’

The talks will continue on Wednesday in Brussels, when Russian officials meet with NATO allies, and on Thursday in Vienna, at a gathering of the Organization for Security and Cooperation in Europe, which includes both Russia and Ukraine as well as the United States. Mr. Ryabkov said that the outcome of those discussions would determine whether or not Russia was willing to proceed with diplomacy.

And he warned that if the West did not agree to Russia’s demands to roll back NATO’s presence in Eastern Europe, it would face unspecified consequences that would put the “security of the whole European continent” at risk.

American officials told The New York Times, signaling that President Vladimir V. Putin of Russia still may not have made up his mind about whether to proceed with an attack, or might be considering something less conventional than pouring troops over the border.

The U.S. officials say they are preparing for everything from a full-scale invasion, to partial incursions, to cyberattacks intended to paralyze the country.

“He tried to maintain a flexible position that would allow Putin to decide either way,” Kadri Liik, a Russia specialist at the European Council on Foreign Relations in Berlin, said of Mr. Ryabkov’s approach. “It will be Putin’s decision whether to continue these talks under the conditions that the U.S. makes available.”

Russia annexed the Ukrainian peninsula of Crimea and fomented a separatist war in the country’s east after the pro-Western revolution in Kyiv, Ukraine’s capital, in 2014. The war in eastern Ukraine continues to simmer, having claimed more than 13,000 Ukrainian lives on both sides.

In the last year, Mr. Putin has increasingly cast Western support for Ukraine as an existential threat, claiming that the neighboring country, formerly a Soviet republic, was being turned into an “anti-Russia” that the West could use to attack or otherwise weaken his country.

But Russia’s aims go far beyond the future of Ukraine, a position it put forth in an extraordinary set of demands to the West last month that sought to roll back NATO’s military presence to 1990s levels. It also asked for guarantees that NATO would not expand eastward or keep forces or weapons in former Soviet states that have since joined NATO. .

a new phase of the conflict.

Even without any American concessions, Monday’s talks already represented a victory of sorts for the Kremlin because they brought the issue of NATO expansion, which has long angered Mr. Putin, to the forefront of issues confronting Washington policymakers.

Ms. Liik, the analyst, said the seriousness with which the United States appeared to prepare for Monday’s talks — sending a large delegation that included officials from the Defense Department, the State Department and the National Security Council, which coordinates policy at the White House — sent an important signal to Moscow.

“We had the feeling that the American side took the Russian proposals very seriously and studied them deeply,” Mr. Ryabkov said. “Now, things are being called by their names, and this in itself has a healing effect on our relations with the West.”

Mr. Ryabkov said Russia would make a decision on whether or not to continue diplomacy after the meetings this week, warning that “the risks connected with a possible intensification of confrontation cannot be underestimated.”

But Mr. Ryabkov was vague as to what, exactly, the consequences would be if the United States refused Russia’s demands. He repeatedly said that Russia had no plans to attack Ukraine and that there was “no reason to fear an escalation scenario in this regard.”

But he also said that increased military activity by the West in Ukraine and in the Black Sea region had caused Russia to shift its military posture in the region, and that it was concerned about “deliberate provocations” by Ukraine.

Western officials have said they believe that Russia could manufacture a “provocation” as a pretext for an invasion.

Describing the consequences of what would happen if diplomacy fails, Mr. Ryabkov repeated Mr. Putin’s wording that the West would face a “military-technical response” by Russia. He said Russia would not make public what that response would look like because doing so would invite new sanctions threats, but he indicated it could involve new deployments of certain weapons systems.

Ms. Sherman, cautious after a long career of sparring with Russian officials, was asked after the meeting whether she had realistic hope for a diplomatic solution.

“It’s very hard for diplomats to do the work we do if you have no hope,’’ she said. “So of course I have hope.”

She paused briefly. “But what I care about more is results.”

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Covid Test Misinformation Spikes Along With Spread of Omicron

On Dec. 29, The Gateway Pundit, a far-right website that often spreads conspiracy theories, published an article falsely implying that the Centers for Disease Control and Prevention had withdrawn authorization of all P.C.R. tests for detecting Covid-19. The article collected 22,000 likes, comments and shares on Facebook and Twitter.

On TikTok and Instagram, videos of at-home Covid-19 tests displaying positive results after being soaked in drinking water and juice have gone viral in recent weeks, and were used to push the false narrative that coronavirus rapid tests don’t work. Some household liquids can make a test show a positive result, health experts say, but the tests remain accurate when used as directed. One TikTok video showing a home test that came out positive after being placed under running water was shared at least 140,000 times.

And on YouTube, a video titled “Rapid antigen tests debunked” was posted on Jan. 1 by the Canadian far-right website Rebel News. It generated over 40,000 views, and its comments section was a hotbed of misinformation. “The straight up purpose of this test is to keep the case #’s as high as possible to maintain fear & incentive for more restrictions,” said one comment with more than 200 likes. “And of course Profit.”

Previous spikes in pandemic-related falsehoods focused on the vaccines, masks and the severity of the virus. The falsehoods help undermine best practices for controlling the spread of the coronavirus, health experts say, noting that misinformation remains a key factor in vaccine hesitancy.

The categories include falsehoods that P.C.R. tests don’t work; that the counts for flu and Covid-19 cases have been combined; that P.C.R. tests are vaccines in disguise; and that at-home rapid tests have a predetermined result or are unreliable because different liquids can turn them positive.

These themes jumped into the thousands of mentions in the last three months of 2021, compared with just a few dozen in the same time period in 2020, according to Zignal Labs, which tracks mentions on social media, on cable television and in print and online outlets.

The added demand for testing due to Omicron and the higher prevalence of breakthrough cases has given purveyors of misinformation an “opportune moment” to exploit, said Kolina Koltai, a researcher at the University of Washington who studies online conspiracy theories. The false narratives “support the whole idea of not trusting the infection numbers or trusting the death count,” she said.

policies that prohibit misinformation that could cause harm to people’s physical health. YouTube said it was reviewing the videos shared by The New York Times in line with its Covid-19 misinformation policies on testing and diagnostics. Twitter said that it had applied a warning to The Gateway Pundit’s article in December for violating its coronavirus misinformation policy and that tweets containing false information about widely accepted testing methods would also violate its policy. But the company said it does not take action on personal anecdotes.

Facebook said it had worked with its fact-checking partners to label many of the posts with warnings that directed people toward fact checks of the false claims, and reduced their prominence on its users’ feeds.

“The challenges of the pandemic are constantly changing, and we’re consistently monitoring for emerging false claims on our platforms,” Aaron Simpson, a Facebook spokesman, said in an email.

No medical test is perfect, and legitimate questions about the accuracy of Covid-19 tests have abounded throughout the pandemic. There has always been a risk of a false positive or a false negative result. The Food and Drug Administration says there is a potential for antigen tests to return false positive results when users do not follow the instructions. Those tests are generally accurate when used correctly but in some cases can appear to show a positive result when exposed to other liquids, said Dr. Glenn Patriquin, who published a study about false positives in antigen tests using various liquids in a publication of the American Society for Microbiology.

“Using a fluid with a different chemical makeup than what was designed means that result lines might appear unpredictably,” said Dr. Patriquin, an assistant professor of pathology at Dalhousie University in Nova Scotia.

Complicating matters, there have been some defective products. Last year, the Australian company Ellume recalled about two million of the at-home testing products that it had shipped to the United States.

But when used correctly, coronavirus tests are considered reliable at detecting people carrying high levels of the virus. Experts say our evolving knowledge of tests should be a distinct issue from lies about testing that have spread widely on social media — though it does make debunking those lies more challenging.

said in July that it would withdraw its request to the Food and Drug Administration for emergency-use authorization of one specific test at the end of the year. Hundreds of other Covid-19 tests are still available from other manufacturers, the C.D.C. later clarified.

Still, posts claiming that the agency had withdrawn support of P.C.R. tests went viral on Facebook. The most widely shared post pushing the falsehood in July collected 11,500 likes, shares and comments, according to data from CrowdTangle, a Facebook-owned social media analytics tool. The post added the falsehood that the C.D.C.’s advisory meant that P.C.R. tests could not distinguish between the coronavirus and the flu, when in fact the agency had simply recommended the use of tests that could simultaneously detect and distinguish between the flu and Covid-19.

Despite being fact-checked within days, the claim never fully went away. The Gateway Pundit article revived the claim at the end of the year, collecting nearly double the earlier post’s likes, shares and comments on Facebook. On Instagram, screenshots of the article also went viral, collecting hundreds of likes.

Mr. Gregory said a similar phenomenon had occurred with social media posts claiming various liquids turned at-home coronavirus tests positive.

On Dec. 23, 2020, a video on YouTube showed coronavirus tests turning positive after being tested on kiwi, orange and berry fruit juice. It collected over 102,000 views. In the same month, a video producing the same results with Coca-Cola was posted on YouTube, collecting 16,800 views.

One year later, a spate of similar videos with the same theme appeared on TikTok and Instagram.

For Ms. Koltai, the re-emergence of false narratives even after social media companies labeled them a year earlier shows the power of misinformation to “thrive when it can latch on to a current event.”

“That is how narratives can peak at different times,” she said.

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Left Out of High-Level Talks, Ukraine Tries Other Diplomatic Channels

KYIV, Ukraine — Peace negotiations are usually thought to involve two sides brought together by a mediator trying to tease out possible compromises, far from the anger and destruction of the battlefield.

But talks starting in Geneva Monday on the eight-year-old war in Ukraine are different. The conflict — and an overtly threatened Russian invasion that the talks are intended to forestall — is in Ukraine. But Ukraine will be missing from two of the three negotiating sessions scheduled for this week.

Such a limited role for Ukraine in the talks has clearly unnerved the government in Kyiv. Fearing the talks will yield little or nothing, and with President Biden’s statement that the United States will not intervene militarily if Russia invades, Ukraine has quietly pursued its own negotiating track with Moscow.

The latest threat of invasion began last month, when Russia massed more than 100,000 troops along its borders with Ukraine and demanded wide-ranging — and, to Western analysts, impossible — concessions from the United States and NATO on matters of European security.

threatened to launch an invasion of Ukraine if the talks on its proposals should fail.

In effect, that made Ukraine “the hostage,” of Russia, said Kostiantyn Yelisieiev, a former Ukrainian ambassador to the European Union.

Dmytro Kuleba, posted on Twitter last week, noting he will also meet with NATO officials in Brussels. “Part of a wide diplomatic effort to deter further Russian aggression.”

The current threat follows eight years of low-level conflict. Russia intervened militarily in Ukraine in 2014, annexing the Crimean Peninsula and fomenting separatist uprisings in two eastern provinces, leading to the deaths of about 13,000 people.

Given the stakes for Ukraine, the government of President Volodymyr Zelensky has decided not to rely wholly on the U.S.-led negotiations. Mr. Zelensky announced a separate, Ukrainian diplomatic initiative with Russia in late December, the specifics of which were later published in the Russian newspaper Kommersant.

implemented.

cause a firestorm in Ukrainian politics.

To date, none of the diplomatic talks with Russia, whether with the United States or Ukraine, have slowed the stream of ominous statements from Russian officials that diplomats and analysts worry could be used to justify military action or prepare the Russian population for a war.

told Izvestia newspaper soon after the fall of Kabul.

In December, Mr. Putin, speaking to a gathering of generals and security officials, said Moscow might resort to “military-technical” means if Western nations “continue the obviously aggressive stance.”

compared Moscow favorably to a gangster character in a Russian movie who, “raising his heavy fist and looking into the eyes of his interlocutor, gently asks again: Where is your strength America?”

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