By Hideyuki Sano, Bloomberg markets live reporter and strategist

The conventional wisdom in the Japanese market that a cheaper yen benefits exporters and boosts share prices has been turned on its head.

In reality, the yen’s exchange rate is having less and less of a bearing on Japanese stocks. The correlation between the Topix index and the dollar/yen rate since July has been 0.23, a level statisticians would judge as pretty weak. The link between the yen and the Nikkei 225 during the same period is even slightly negative.

The chart below illustrates the point. Blue dots show where the yen and the Topix were each day since July. When Japan’s currency was at 150 against the dollar, the Topix was lower. In 2022 the Topix hardly reacted to the yen’s exchange rate, stuck mostly between 1,800 and 2,000, as shown by the gray dots.

The relations between the dollar/yen and the Topix since 2022.

The loss of connection between the yen and share prices is no surprise given how Japanese exporters have changed. Successful companies such as Sony Group Corp. and Hitachi Ltd. have long ditched their old models of exporting goods manufactured in Japan, making their business more global and diversified.

“Some people say a cheap yen will benefit exporters, but the impact of that is very limited after the hollowing-out of the domestic manufacturing base,” said Seiya Nakajima, visiting professor of international finance at Fukui Prefectural University.

The only period when the Topix appeared to be correlated to the yen is the first half of 2023, (shown by the orange dots), with the index higher when the currency was cheaper.

But the connection appears tenuous: during that period Japanese shares had their own drivers, such as Warren Buffett’s investment in trading firms as well as hopes about corporate governance improvements, suggesting any boost from the yen was secondary.

Hitachi’s earnings before interest, taxes and amortization increased by just ¥200 million ($1.3 million) for each one yen depreciation against the dollar. As for Sony, the net impact of yen moves on its earnings is relatively limited.

For many chip-related companies, the outlook for that sector overseas as well as the global economy has a far-larger impact than the foreign-exchange rate. Against this backdrop, the correlation between the dollar/yen rate and the Topix Electronics Appliance index – the biggest segment of the stock market with a 17% weighting – has decreased since the pandemic.

This isn’t to say that a cheaper yen has no benefit. It still brings currency translation gains for Japanese companies’ earnings on big overseas sales. Automaker shares continue to have a strong correlation with the yen as they export a lot of vehicles. While that weakened in 2022 when chip shortages hobbled their output, the link between Japanese carmakers and the yen came back last year.

Still, automakers account for just 9% of the Topix. And the perception that Japan’s economy is export-driven also needs a reality check. Japan’s exports have stagnated so much over the past decade in part due to a production shift abroad and the loss of competitiveness. It’s the only major economy that saw exports decline over the last decade.

It’s little wonder, then, investors don’t buy Japanese stocks just because the yen is cheap.

Boeing’s plane deliveries tumbled 29% in January – compared to the previous month, driven primarily by seasonal trends and fallout from a near-mid-air disaster of a fuselage panel that ripped off one of its 737 Max 9s. 

Last month, the company handed over 27 aircraft, marking its lowest delivery count since September, in contrast to 67 deliveries in December. As for Max jets, it delivered 25 aircraft, down from 44 in December. 

“New aircraft orders are light in the month, but are typically seasonally light early in any year, while new aircraft order backlog remains very large compared to supply,” Goldman analysts wrote in a note. 

The analysts, led by Noah Poponak and Anthony Valentini, continued: “Deliveries slowed in January, in part due to seasonality and in part from Boeing slowing down the system to renew the focus on product quality.” 

They expect the slowdown in January to be temporary as an “acceleration in output” will occur “in the near-term and through the rest of 2024.” 

Here are Boeing’s gross orders, cancellations, and ASC 606 adjustments for the 737, 777, and 787 planes.

As of Jan. 31, Boeing’s backlog decreased from 5,626 to 5,599 aircraft. It has 6,189 unfilled orders when accounting for adjustments. 

“Boeing would have adequate backlog coverage to support production rate plans over the near-to-medium term, with ~6X years of 737 backlog coverage even if the ASC 606 movements are not recognized in the backlog by 2026, and ~5X/9X years for the 787 and 777, respectively,” the analysts said. 

Since the Jan. 5 incident involving a door plug on a brand new Alaska Airlines Max 9 jet, Boeing executives have been scrambling to ensure safety in its manufacturing supply chain. The US Federal Aviation Administration briefly grounded the Max 9 jets for inspections and has since capped Boeing’s production of the planes while an audit of the manufacturing process is ongoing. 

Meanwhile, Boeing CEO Dave Calhoun has promised to carefully review manufacturing processes at the company’s factory. The FAA won’t lift the production cap on Max jets until the agency is “satisfied that the quality control issues uncovered during this process are resolved.” 

Despite the mounting risks for Boeing, the analysts continued with a buy rating on Boeing, with a 12-month price target of $268. 

They also outlined three key risks for Boeing shares: 

1. the pace of air traffic growth,
2. supply chain recovery timing, and 
3. defense program margins in the medium-term

Given Goldman’s price target, shares are at a deep discount, trading around $204 as of Wednesday morning.

Matt Taibbi explains the multi-part series, cowritten with Michael Shellenberger and Alex Gutentag, about the corrupt origins of the Trump-Russia investigation…

Subscribe to Racket News here…

Read Part 1 here “CIA Had Foreign Allies Spy On Trump Team, Triggering Russia Collusion Hoax, Sources Say “…

Part 2: U.S. Government Is Hiding Documents That Incriminate Intelligence Community For Illegal Spying And Election Interference, Say Sources

Authored by Michael Shellenberger, Matt Taibbi, and Alex Gutentag via Public substack,

Former CIA Director Gina Haspel blocked the release of “binder” with evidence that may identify her role in the Trump-Russia collusion hoax

FBI Director Christopher Wray (left), former CIA Director Gina Haspel (center), and former Director of National Intelligence Dan Coats (right), testify at a Senate Intelligence Committee on January 29, 2019. (Photo by Win McNamee/Getty Images)

Last December 15th, as Americans decorated trees, lit Menorahs, and prepared to tune out for winter holidays, CNN ran an extraordinary article titled, “The mystery of the missing binder: How a collection of raw Russian intelligence disappeared under Trump.”

Co-authored by Natasha Bertrand, the gargantuan expose claimed a mysterious “binder” of “highly classified information related to Russian election interference” went “missing” in the chaotic waning days of Donald Trump’s presidency in January 2021, raising concerns that some of America’s most “closely guarded national security secrets… could be exposed.”

CNN and its intelligence sources meant “exposure” in a bad way.

Sources have told Public and Racket, however, that the secrets officials worry might be “exposed” are ones that would implicate them in widespread abuses of intelligence authority dating back to the 2015-2016 election season.

“I would call [the binder] Trump’s insurance policy,” said someone knowledgeable about the case.

“He was very concerned about having it and taking it with him because it was the road map” of Russiagate.

Transgressions range from Justice Department surveillance of domestic political targets without probable cause to the improper unmasking of a pre-election conversation between a Trump official and Saudi Crown Prince Mohammed bin Salman to WMD-style manipulation of intelligence for public reports on alleged Russian “influence activities.”

The CNN report claimed intelligence officials were concerned about the disclosure of “sources and methods that informed the U.S. government’s assessment that Russian President Vladimir Putin sought to help Trump win the 2016 election.”

They should be concerned.

The story of how a team “hand-picked” by CIA Director John Brennan relied on “cooked intelligence” to craft that January 6th, 2017 Intelligence Community Assessment is the subject of tomorrow’s story, the last in this three-part series.

Corruption, not tradecraft, is what officials are desperate to keep secret.

The ”missing binder” story has several variants.

Sources offer differing answers on the question of whether anything of consequence is missing. They give mixed accounts of Trump’s frantic last efforts to declassify Russia-related material.

But nearly everyone Public and Racket spoke to agreed that the tale obscured a broader and more important story.

Dating back to the release of the so-called “Nunes memo” in 2018 exposing the corruption of the FISA application process, senior intelligence officials, including Trump’s CIA Director, Gina Haspel, have repeatedly blocked attempts to declassify information about the Trump-Russia investigation.

They had good reason to obstruct the release of these documents.

The documents in question are said to contain information about the legal justification for those investigations, or more specifically, the lack of justification, among other things. Should more of that information be made public, it might implicate a long list of officials in serious abuses.

Questions like these may be answered if the 10-inch thick binder of sensitive documents about the origins of the Russia probe is made public.

Fear for reputations and careers, not national security, is what has intelligence officials panicked.

…

Investigators wanted to declassify their findings before Trump left office, but the CIA “would not cooperate.” Investigators, a source told Public and Racket, “created a binder that blew up the assessment but couldn’t get it out because the CIA controlled it.”

…

Subscribers to Public substack can read the astonishing full report here…

TOMORROW: NEW BOMBSHELL ON CONTENTS OF SECRET JANUARY 2017 “INTELLIGENCE COMMUNITY ASSESSMENT” OF RUSSIAN ELECTION INTERFERENCE

New evidence in the House GOP’s ongoing efforts to get to the bottom of the Biden family’s tangled web of payments and bank accounts have uncovered new evidence suggesting money transfers to President Joe Biden from his grandchildren, Just the News reports.

“In one of the interviews — that we haven’t I don’t believe disclose the transcript yet — the witness made reference to an account we didn’t know about. We’re researching that account,” House Oversight Committee Chairman James Comer told Just the News, No Noise, adding that the information may eventually lead Congress to subpoena Biden’s personal bank and credit card records.

“They also said that that account could have possibly been paid with some infusion from the grandchildren.“

According to Comer, the flow of money from a grandchild to a grandfather would be unusual, if true.

“Now, I don’t know about you. But I don’t know anyone in the world whose grandchildren have ever deposited money into a savings account for their elderly grandfather,” said Comer. “But now, maybe I’m wrong. But that’s something we’re certainly looking into.”

Comer wouldn’t go into who the witness was, however another Congressional insider told the outlet that it came from a longtime Hunter Biden business associate. The same source said they expected the transcript of the interview to be released later this week or early next week.

In recent weeks the Committe has made progress interviewing a laundry list of Biden associates:

Comer’s committee has completed several closed-door interviews with Hunter Biden associates including energy executive Tony Bobulinski, Hollywood lawyer Kevin Morris, and Rosemont Seneca partners Devon Archer and Eric Schwerin. Bobulinski’s and Schwerin’s transcripts have not yet been released.

Emails on Hunter Biden’s abandoned laptop indicated Schwerin had access to some information about Joe Biden’s finances when he was vice president, including a tax refund from Delaware that was being routed from father to son.

Comer said his committee has begun to request access from banks and others to Joe Biden’s personal financial records and that lawmakers were prepared to obtain them by subpoena if necessary. -Just the News

According to former Biden associate Tony Bobulinksy, “Joe Biden was the brand” Hunter and pals were selling.

“We certainly have a lot of questions about he achieved how he (Joe Biden) accumulated so much wealth so quickly,” said Comer. “The public explanation behind that doesn’t add up with most people’s calculators. We’re certainly looking into some of these new accounts. We’ve requested some information, that you know is the first step in being able to successfully subpoena bank records. So stay tuned to that.”

Read the rest of the report here…

Submitted by Gun Owners of America,

The Biden Administration has shown time and time again how they weaponize federal law enforcement agencies against gun owners.

A recent report by the Inspector General of the Department of Homeland Security highlighted how several DHS component agencies, including the Secret Service, bought Americans’ phone location data without a court order.

Several other agencies, including the IRS, FBI, and the Defense Intelligence Agency, also admitted to using data brokers to sidestep American’s Fourth Amendment rights.

Did you know companies and the government can BUY gun owner information?🤯

Are you a 20-something? 70+? Female? Democrat? Do you live in NY or TX? What gun range do you go to?

All of this information AND MORE is available online, and it’s not as expensive as you’d think.😡 pic.twitter.com/T7WCzReV9i

— Gun Owners of America (@GunOwners) February 13, 2024

Under normal circumstances, a Judge would need to issue a warrant to collect this kind of data, but in this case, private companies act as a middleman between your data and the government by scraping anywhere that personal data is publicly available. Government lawyers have decided that the Fourth Amendment does not apply to Americans’ personal data — if the government buys it from data brokers.

Using the same quasi-legal methods used to obtain phone location data, federal law enforcement agencies may have already targeted gun owners by purchasing email lists and data sets that contain location, name, and other personal information from data brokers.

Several sites promote their extensive list of “Shooting Fanatics,” “Concealed carry licensed gun owners,” and even “New York City Gun Owners”! These lists are perfect targets for an administration focused on attacking the individual right to keep and bear arms.

With these lists, the Biden Administration’s law enforcement agencies could purchase and misuse the personal information of millions of gun owners without a single warrant or court order.

It is crucial to close the Section 702 FISA loophole that allows Federal agencies to collect this data on American gun ownership without a warrant. By allowing agencies to buy sensitive information rather than following the judicial process, it makes mockery of the constitutional promise of protection against unreasonable search and seizures. 

That is why Gun Owners of America encourages all members of Congress to sign onto Rep. Davidson’s bills ending this warrantless surveillance. Over 30 House Representatives have already signed a letter urging leadership to close this loophole.

Gun Owners of America endorses Representative Warren Davidson’s Fourth Amendment is Not for Sale Act and the Protecting Americans’ Data from Foreign Surveillance Act. Congress must act to protect Americans’ Second and Fourth Amendment rights.

*   *   *

We’ll hold the line for you in Washington. We are No Compromise. Join the Fight Now

It’s not like anyone actually believes it any more, but if anyone needed the most clear and concise proof that there is no, zero, zilch connection between the economy and stock market, look no further than Japan where the Nikkei has more than doubled from the covid lows and is about to breach its all time bubble highs set in in the last days of 1989… and moments ago Japan entered a recession. In fact, From its generational low set a decade ago, the Nikkei has almost quadrupled even as Japan’s economy has slumped into recession three times!

So anyway, confirming that only central banks matter in a world where the economy clearly does not, moments ago Tokyo reported that Japan’s economy “unexpectedly” contracted for a second quarter at the end of 2023, slipping into recession and significantly clouding the Bank of Japan’s path toward ending its negative interest rate policy (as it was supposedly preparing to do, even if it really had no intention at all of hiking).

Japan’s GDP shrank at an annualized pace of 0.4% in the final three months of last year, following a revised 3.3% contraction in the previous quarter, as both households and businesses cut spending. Economists had expected the economy to expand by 1.1%.

According to Bloomberg, the data also confirmed that Japan’s economy slipped to fourth-largest in the world in dollar terms last year. Germany – which is also in recession but has at least learned how to manipulate its data and is pretending to not be in contraction at this moment – is now has the world’s third-largest economy.

Hilariously, the striking miss – and slide into contraction – will “complicate” the BOJ’s case to conduct the first rate hike in Japan since 2007, a step most economists surveyed last month predicted the bank will take by April, but it clearly won’t be doing any time now. Pretending like it still has control, the BOJ’s policy board has recently ramped up discussions surrounding an exit from the subzero rate policy and sought to assure markets that a rate hike wouldn’t signal a sharp shift in policy.

What is laughable is not that the BOJ won’t be hiking – it never planned on doing that anyway since tightening would immediately blow up its entire bond market – but that despite NIRP, endless QE and purchases of equity ETFs, Japan has still gone through three recessions in the past decade. Of course, recessions don’t matter for the market; what does are central banks, and since the BOJ has injected trillions over the same decade, well… that’s why stocks are where they are now.

Thursday’s data underscored the case for keeping policy loose by reflecting Japan’s reliance on external demand. Net exports contributed 0.2% to growth. Exports jumped in December, led by automobiles to the US and chip manufacturing gear to China. Inbound tourism, classified as service exports, also saw continued growth, with the number of visitors setting a record for the month in December.

At the same time, domestic consumption has been crushed, and the figures showed that domestic activity remains anemic, with inflation crimping spending as private consumption subtracted 0.2 percentage point, and as households contend with rising costs of living tightened their budgets.  Making things worse, household spending fell 2.5% in December versus a year earlier, a 10th straight month of declines, as wage gains lagged inflation.

This is why the BOJ is completely trapped, as unless it does hike rates, and thus pushes the economy into an even deeper contraction and sparks a bond market crisis to boot, the yen continue to plummet and runaway inflation will turn into hyperinflation.

In fact, the only thing Japan has going for it is that the population is too old and diapered to start a revolution at the cartoonish and incompetent government and central bank which will do nothing as hyperinflation slowly takes hold.

Authored by Casey Carlisle via RealClearMarkets.com,

A couple of the podcasters I listen to have recently quoted Thomas Sowell, who says that there are no solutions—only tradeoffs.  Since catastrophic 2020, it’s clear that Sowell’s words have already been forgotten, and because this is an economics article, I’ll call out those—regardless of political affiliation—who’ve forgotten Sowell’s wise words. 

With the immigration issue raging, some have suggested that illegal immigrants should be able to gain citizenship via ‘service’ in the military. 

I’ll argue why that’s a good idea – and a bad one.

Speaking of a solution (which doesn’t exist), I’d very much like to see an end to the U.S. regime’s pointless and proxy wars, but again, I’m discussing tradeoffs, not solutions. 

Last year, I argued that low rates of military enlistment are actually a good thing, but again, hoping for the solution that is an imploding Department of Defense requires dreaming, not tradeoffs. 

It is those low rates of military enlistment that have spurred some to advocate filling the gap with illegal immigrants. 

And why not? 

The regime won’t simply stop waging war due to a lack of interest from those it parasitizes.

“But, but, but,” conservatives seem to groan, “dying in pointless wars is an honor reserved for my children, not illegals.” 

So very odd.  And depressing. 

We happily pay others to do the “dirty” jobs we’d rather not do, so why do the right of center yearn to work such a lousy job? 

Also, each illegal ‘serving’ in the military frees one citizen to help defend the border, about which, in my opinion, conservatives are justifiably enraged.  I’ve also seen Olympus Has Fallen, but are conservatives aware that it’s not a documentary?  Even if illegals taking over the military were an actual concern, the tradeoff would be to make the military weaker and, therefore, less of a threat to its own citizens.  Afterall, the current president keeps reminding us that one needs an F-16, not an M-16, to fight the regime, so a smaller military might prevent a sitting president from saying something so ludicrous, insulting, and obnoxious. 

If the regime doesn’t meet its enlistment goals, will it simply call it quits and bring the troops home? 

The question answers itself, and I’d think those on the right would prefer illegals in the military over legal conscription.

For those on the political left who’ve been calling for ‘service’ as a path to citizenship, why would illegals put their lives on the line for citizenship when they’re already treated better than citizens? 

Yes, leftists have also forgotten tradeoffs, and maybe they never learned of them in the first place.  One works a job for a paycheck; exertion, one hopes, is commensurate with compensation. 

However, if one were offered a salary for no slog—ask any parasite—the job will go unworked. 

That is precisely what liberals seem to be suggesting. 

“Citizenship?” illegals seem to ask, “we’re doing just fine being illegal.” 

This proposal, emanating almost entirely from those who are left of center, not only ignores tradeoffs but incentives as well.  Where’s the incentive for citizenship when illegal immigrants can get a driver’s license and, in some cities, are about to be granted suffrage?  It also seems that those on the left aren’t at all curious as to why rates of military enlistment have plummeted, despite the regime’s problem being seen as a possibility back in 2020. 

This proposal is a tradeoff that trades something for nothing.

The lack of regard for tradeoffs seems to contribute to the deteriorating political climate.  When half of the country wants to force their solutions on the other half, is it any wonder why politics is so ugly? 

If there’s only one solution, most will be unhappy, but that’s exactly what politics does and is why I loathe it. 

Politics eviscerates tradeoffs and, therefore, voluntary exchange.  No, a new president with a different set of solutions won’t save us; he’ll merely shift the misery to another tribe, which is why if there were fewer and fewer aspects of our lives that the regime controls, tradeoffs would help relegate policy solutions to where they belong—the realm of fiction.

Headed into election season, it is perhaps only natural and entirely to be expected that the mainstream media will hyperventilate over every side remark that Vladimir Putin makes on what’s shaping up to be a Trump vs. Biden match in November. Russian ‘interference’ is no doubt always looming darkly on the horizon, we are told.

The Russian leader’s Wednesday response to a question asked in a state media interview has triggered an avalanche of headlines Wednesday night. When asked to choose his preference for the next US president, Putin answered Joe Biden, and explained this is due to the 81-year old Democratic incumbent being a “more experienced, predictable, an old-school politician.” Is this Putin doing some hilarious trolling after years of the Russian interference narrative pushed by the Dems?…

The esteemed, weighty, and acclaimed Financial Times is among the many outlets that seem confused: “Vladimir Putin has said Joe Biden would be a better US president for Russia than Donald Trump and dismissed concerns over his counterpart’s age and acuity for the role,” FT writes.

“Putin’s comments late on Wednesday marked his first foray into this year’s presidential election as tensions between Democrats and Republicans rise over the White House’s efforts to send more military aid to Ukraine,” the publication continues. Putin also dismissed any concern over Biden’s age and mental acumen, but acknowledged the political rhetoric in the US is “getting more and more vicious” on this.

Putin went on in the interview to state that Russia is ready and willing to “work with any US leader who wins the trust of the American people.”

Putin in his response appeared to take opportunity to possibly make a passing joke about President Biden’s ability to fulfill the office…

Putin says he’d rather have Biden as President than Trump. “He’s more experienced, he’s predictable, he’s an old-school politician.”

He doubts Biden’s age makes him “incapable.” When they met Biden was “nothing of the sort.” “Who of us hasn’t banged their head on something?” pic.twitter.com/xGSHntvmdC

— max seddon (@maxseddon) February 14, 2024

Putin noted that back when he met Biden in Switzerland in 2021, it was the case that even at that time people “talked about him being incapacitated, but I saw nothing of the kind.”

He added: “Yes, he was peeking at his papers, to be honest, I was peeking at mine, not a big deal.”

We have to ask: does this make Biden “Putin’s man in Washington”? After all, the world was just now told told straight from the proverbial horse’s mouth that Biden is the ‘better’ American president for Russian interests.

And yet we won’t hold our breath for the CNN articles on “why Putin would want Biden to win in 2024”… 

Imagine if Putin had said the opposite. Would have been the grounds for another bullshit impeachment. pic.twitter.com/FVQvYBx7Mt

— Max Abrahms (@MaxAbrahms) February 15, 2024

But assuming Putin’s response voicing his preference for another Biden presidency wasn’t either trolling or playing some 4-dimensional chess, the emphasis on Biden being more “predictable” is an interesting one. After all, Trump and his supporters have often said that it’s Trump’s very unpredictability which makes world leaders and US rivals fear him. 

THIS IS WHY PUTIN LOVES BIDEN!!! pic.twitter.com/3bRvHswgAT

— il Donaldo Trumpo (@PapiTrumpo) February 14, 2024

This fresh commentary from Putin also becomes interesting to think about in recalling President Barack Obama’s infamous hot mic moment with outgoing Russian President Dmitry Medvedev in 2021. Obama had personally assured Medvedev he will have “more flexibility” to deal with difficult US-Russia issues after the US presidential election.

Maybe this what Putin had in mind in calling Biden and the Democrats more ‘predictable’…

Authored by George Citroner via The Epoch Times (emphasis ours),

For the estimated 1 to 3 million Americans living with postural orthostatic tachycardia syndrome (POTS), standing up can trigger a racing heartbeat, lightheadedness, and fainting that’s relieved only by sitting or lying down.

But a new clinical trial offers a glimmer of hope for those desperate for relief. Researchers may have uncovered a novel, nonpharmaceutical way to manage this debilitating syndrome on the rise nationwide.

Pandemic and Vaccines Contribute to Uptick in POTS

POTS cases notably rose following the COVID-19 pandemic and vaccine rollout, both of which are known to impact heart health. Some evidence suggests that 2 percent to 14 percent of COVID-19 survivors are later diagnosed with POTS.

A December 2022 study in Nature Cardiovascular Research found links between COVID-19, mRNA vaccines, and POTS. It revealed COVID-19 patients are five times more likely to develop POTS down the road than those who got POTS after vaccination.

“Our results identify a possible association between COVID-19 vaccination and incidence of POTS,” the authors wrote. “Notwithstanding the probable low incidence of POTS after COVID-19 vaccination, particularly when compared to SARS-Cov-2 post-infection odds.”

A March 2023 review of studies also suggested a “significant percentage” of COVID-19 patients developed POTS within six to eight months of infection, though the exact mechanisms connecting the two remain unclear.

Nerve Stimulation Benefits POTS Patients

Led by Dr. Stavros Stavrakis of the University of Oklahoma (OU) College of Medicine, a new clinical trial published in JACC: Clinical Electrophysiology explored whether stimulating the vagus nerve—a key part of the parasympathetic nervous system—could relieve POTS symptoms.

The vagus nerve starts in the brain, passes through the heart and lungs, and ends in the intestines. This nerve controls functions such as digestion, breathing, and heart rate. Targeting it could address a major POTS symptom: rapid heartbeat upon standing.

For the trial, 26 participants were randomly assigned to receive either electrical stimulation of the auricular branch of the vagus nerve via an ear clip device or a placebo treatment for one hour daily over two months. Using double-blind methods, neither researchers nor participants knew who received the actual stimulation.

Those treated with vagus nerve stimulation had a significant 15-beat-per-minute reduction in rapid heartbeat after standing compared to the control group.

The benefits also included a decrease in adrenaline surge and systemic inflammation, both of which are associated with the condition, Dr. Stavrakis told The Epoch Times.

The treatment also decreased adrenaline surges and inflammation associated with POTS, according to Dr. Stavrakis. There was evidence it reduced autoantibodies linked to POTS, “at least for some patients,” he noted.

“I would say these results are promising, and we need more studies, obviously, but they are exciting results and we have a mechanistic explanation why it worked, which makes it more valuable,” Dr. Stavrakis said.

Wireless Device May Provide At-Home POTS Relief

Currently, POTS is treated with drugs like midodrine, ivabradine, fludrocortisone, and modafinil. Modafinil is prescribed to treat excessive sleepiness caused by narcolepsy but is sometimes used to treat brain fog associated with POTS. The only nonpharmaceutical therapies for the condition are lifestyle changes such as exercising more and increased fluid and salt intake.

Dr. Stavrakis, a 15-year veteran of POTS research, said he envisions a future where patients seamlessly integrate vagus nerve stimulation into their routine using wireless earbud-like devices. This would deliver treatment without compromising quality of life.

Dr. Stavrakis added he was working on securing approval by the U.S. Food and Drug Administration (FDA) for the device, but the process may exceed one year. The device is functional, and gathering more data will expedite its release, he noted.

Vagus Nerve Stimulation Shows Potential Beyond POTS

Dr. Stavrakis previously studied the use of vagus nerve stimulation to treat atrial fibrillation (irregular heartbeat). He found it reduced atrial fibrillation by 85 percent compared to untreated patients. His next steps are larger trials for both POTS and atrial fibrillation to better understand the treatment’s efficacy, ideal patients, and long-term benefits.

Additionally, a review of clinical trials shows promise for vagus nerve stimulation in treating treatment-resistant depression. A stimulator implanted on the neck’s left vagus nerve is already approved for epilepsy. It sends mild electric pulses to calm irregular brain activity that causes seizures.

US Supreme Court Chief Justice John Roberts has ordered the Department of Justice to respond to former President Trump’s claim that he has presidential immunity in his ongoing Jan. 6 election case in Washington D.C.

The move comes after the US Court of Appeals for the DC Circuit rejected Trump’s attempt to overturn Judge Tanya Chutkan’s refusal to dismiss the case based on Trump’s immunity claim – and less than a week after the Supreme Court heard Trump’s appeal to the Colorado Supreme Court, which ruled that he was disqualified from appearing on the state’s ballot.

Roberts gave Special Counsel Jack Smith until Feb. 20 to respond, pointing to a broader urgency for the Court to address relatively untested legal issues that could have a significant impact on the 2024 presidential election.

“[A] panel of the D.C. Circuit has, in an extraordinarily fast manner, issued a decision on President Trump’s claim of immunity and ordered the mandate returned to the district court to proceed with President Trump’s criminal trial in four business days, unless this Court intervenes (as it should),” reads Trump’s Feb. 12 filing, requesting that the appellate court’s decision be stayed.

Jack Smith, meanwhile, has asked the Supreme Court to skip appellate proceedings and fast-track the case, claiming that “only” the Supreme Court could “definitively resolve” the immunity claims, The Epoch Times reports.

President Trump is asking for the Supreme Court to halt the appellate decision because it incorrectly ruled that presidential immunity didn’t apply to Mr. Smith’s prosecution of him.

His attorney, D. John Sauer, had argued in January that the Constitution required presidents first face impeachment and trial by Congress before they could be criminally prosecuted within Article III courts. A three-judge panel on the D.C. Circuit unanimously rejected his arguments, stating that” ‘[c]oncerns of public policy, especially as illuminated by our history and the structure of our government’ compel the rejection of his claim of immunity in this case.”

The judges also ruled that “any executive immunity that may have protected him while he served as President no longer protects him against this prosecution.”

The issue of presidential immunity is a relatively untested area of law – however in 1982, the Supreme Court held in Nixon vs. Fitzgerald that the president has “absolute immunity” from civil liability which extends to the “outer perimeter” of his official duties.

The appellate court, however, held that Trump exceeded these bounds.

“Former President Trump’s claimed immunity would have us extend the framework for Presidential civil immunity to criminal cases and decide for the first time that a former President is categorically immune from federal criminal prosecution for any act conceivably within the outer perimeter of his executive responsibility,” reads the lower court’s opinion.