Mar 182020
 
 March 18, 2020  Posted by at 11:00 am Finance Tagged with: , , , , , , , , , , ,


Matson Aircraft refueling at Semakh, British Mandate Palestine 1931

 

Global Powers Unleash Trillions Of Dollars To Stem Coronavirus Crisis (R.)
We’re at a Real Risk of Financial Markets Being Closed – Bianco (NZZ)
The Lesson (Henrich)
Boeing Seeks ‘Tens Of Billions’ In Bailouts (ZH)
Hotel Industry To Ask Trump For $150 Billion In Aid (LAT)
American Indian Casinos Close For Coronavirus, Seek $18 Billion Aid (R.)
Mnuchin Warns Senators Of 20% US Unemployment Without Coronavirus Rescue (R.)
18% Of US Workers Have Lost Jobs Or Hours Since Coronavirus Hit (LAT)
COVID-19 Pandemic Could Continue For 2 YEARS – German Health Expert (RT)
New Coronavirus Can Persist In Air For Hours And On Surfaces For Days (R.)
Australian Scientists Map How Immune System Fights Virus (BBC)
A Coronavirus Outbreak In Jails Or Prisons Could Turn Into A Nightmare (Vox)
Cyprus Bans Flights From 28 Countries From March 21 (R.)
Beijing Tells NYT, WSJ, WaPo Journalists To Hand In Credentials (RT)

 

 

It is truly great to see that over the past 10 days or so, millions of coronavirus experts worldwide have come out of hiding whose existence we knew nothing about beforehand. We at the Automatic Earth have been following the virus for well over 2 months, and not only do we still not understand as much as all these experts, we even contradict ourselves and each other from time to time. With all the new expert knowledge and -especially- opinions, no doubt the crisis will be solved real soon now.

 

When I started working very early this working, one of the first things I saw was this from Reuters. Which shows, while for instance Worldometer still had total deaths at 7,915, a 8,410+ number. Somehow it feels too specific for just a random mistake. Worldometer now says 8,010, so there is an increase, but not nearly as much.

 

 

Do note, however, that both cases and deaths are up by much larger numbers in the past 24 hours than ever before…

 

Cases 202,270 (+ 18,137 from yesterday’s 184,133)

Deaths 8,012 (+ 830 from yesterday’s 7,182)

 

These numbers, too, are rising relentlessly.

From Worldometer yesterday evening (before their day’s close)

 

 

From Worldometer -NOTE: mortality rate is now at 9%!- (Note: some call this rate “misleading”, but that can by definition only be true if you don’t know the parameters. Worldometer is very clear: the death rate is part of Closed Cases, not All Cases. You may argue that Active Cases should be part of the equation, but that would only insert uncertainty into the number. Neither Worldometer nor I imply that 9% will be the ultimate fatality rate, just that at present it’s the rate among Closed Cases.)

 

 

From SCMP: (Note: the SCMP graph was useful when China was the focal point; they are falling behind now)

 

 

From COVID2019.app: (New format lacks new cases and deaths)

 

 

 

 

Somebody found a money tree. Or, rather, one in every country.

Global Powers Unleash Trillions Of Dollars To Stem Coronavirus Crisis (R.)

The world’s richest nations prepared more costly measures on Tuesday to combat the global fallout of the coronavirus that has infected tens of thousands of people, triggered social restrictions unseen since World War Two and sent economies spinning toward recession. With the highly contagious respiratory disease that originated in China racing across the world to infect more than 196,000 people so far, governments on every continent have implemented draconian containment measures from halting travel to stopping sporting events and religious gatherings. While the main aim is to avoid deaths – currently at over 7,800 – global powers were also focusing on how to limit the inevitably devastating economic impact.

In the world’s biggest economy, U.S. President Donald Trump’s administration has proposed pumping $1 trillion into the market. Trump wants to send cash to Americans within two weeks as the country’s death toll approached 100 and more testing sent the number of coronavirus cases to over 5,700. Airlines are among the worst-hit sector, with U.S. carriers seeking at least $50 billion in grants and loans to stay afloat as passenger numbers evaporate. Britain, which has told people to avoid pubs, clubs, restaurants, cinemas and theaters, unveiled a 330 billion pounds ($400 billion) rescue package for businesses threatened with collapse. Budget forecasters said the scale of borrowing needed might resemble the vast amount of debt taken on during the 1939-1945 war against Nazi Germany.

“Now is not a time to be squeamish about public sector debt,” Robert Chote, head of the Office for Budget Responsibility, which provides independent analysis of the UK’s public finances, told lawmakers. France is to pump 45 billion euros ($50 billion) of crisis measures into its economy to help companies and workers, with output expected to contract 1% this year. “I have always defended financial rigor in peacetime so that France does not have to skimp on its budget in times of war,” Budget Minister Gerald Darmanin was quoted as saying by financial daily Les Echos. The European Union eased its rules to allow companies to receive state grants up to 500,000 euros ($551,000) or guarantees on bank loans to ensure liquidity.

But even with the promised cash splurges, world stock markets and oil prices were unable to shake off their coronavirus nightmare after Wall Street on Monday saw its worst rout since the Black Monday crash of 1987. The Philippines was the first country to close markets, while Europe – now the epicenter of the pandemic – saw airline and travel stocks plunge another 7%.

Read more …

Central banks have run out of tools. Philippines the first to close markets altogether.

We’re at a Real Risk of Financial Markets Being Closed – Bianco (NZZ)

Mr. Bianco, the Federal Reserve takes massive emergency actions. What does this mean for financial markets? The Central Banks went all in. They fired all of their ammunition and they’ve got only one goal in mind: They have to stop the decline in financial markets. This started late last week with the Fed’s giant repo operation. You can also throw in the announcements of the ECB and the Bank of Japan. Plus, we have the extraordinary actions taken by European governments to stem the effects of the pandemic. The government of Germany for instance is basically guaranteeing everybody’s job.

However, investors don’t seem convinced. What’s going to happen if markets drop further? Central Banks need to stop the stock market from falling through last week’s low. I believe if markets fall through those levels and keep going down, the so-called Fed Put is dead. It doesn’t work anymore, so quit trying to find new ways to exercise it. Just understand Einstein’s definition of insanity: Doing the same thing over and over again, and expecting different results.

What are the ramifications if the Fed Put doesn’t work anymore? Central Banks will need to move on. So if stocks make new lows we’re at a real risk of financial markets being closed. The Fed and other Central Banks have fired all their ammunition and if markets crash through last week’s lows, there’s nothing left. The Fed can’t buy equities outright without a change of the Federal Reserve Act. It would take weeks for Congress to do that. Even if Congress moves with lightning speed it will take them at least a week, and it will be over before that.

What would be the benefit of closing markets? It took the stock market sixteen trading days to drop by 27% from the all-time highs to Thursday’s lows. We have never seen anything close to that in history. The closest we’ve ever been in history was 1929, when it took 42 days to get from the all-time highs to a 20% correction. The speed in this decline is unprecedented.

Why is it so important to stop this crash? If it continues, you will get margin calls, involuntary liquidation. Markets will lose their ability to price securities, especially things like high yield bonds and emerging markets securities. Funds in those areas will be unavailable for people to redeem because they won’t have any prices. There will be trapped money. Also, you will get broken covenants in the corporate debt area, and that will force changes of control or restructurings. But the biggest damage will be that pensions will become underfunded. Companies will be forced to pony up billions of Dollars to get their pensions back into funding.

[..] You’re been in the investment business for a long time and have seen quite a few crashes. How do you experience this crisis personally? This is unlike anything we’ve seen in our lifetime. What’s going on in financial markets today exceeds the financial crisis of 2008, it exceeds 9/11, it exceeds the tech peak, and it exceeds the 1987 crash. Maybe 1929 is still bigger, but few of us were alive then. We’re writing a new chapter for American and world history textbooks. We’re only a few pages into it, and we’re not sure how it will end, but our grandchildren will one day learn school about the great pandemic of 2020 and what it meant for world history.

Read more …

“What I’m opposed to is the hype, hypocrisy and excess that has preceded it. People got greedy, they piled into stocks at ungodly valuations. Companies that didn’t save or prepare for a crisis, instead were focused on short term market gains to juice up their stock prices. Companies such as Boeing that cut corners and blew money on buybacks for financial engineering purposes to enrich upper management and shareholders. I say screw them..”

The Lesson (Henrich)

The lesson of it all? The lesson is that lessons are not being learned. Of course the human species has an ingrained problem: We are all born with a blank sheet and have to learn everything from scratch. It would be helpful though if the elders could pass lessons from past mistakes on to the new generation. But no. So we keep making the same stupid mistakes. And here we are. Just four weeks after all time highs in markets America is again turning into bailout nation. Yes coronavirus is an unforeseen shock. So what? We’re supposed to handle a shock. We’re supposed to be prepared. We’re supposed to have savings and great balance sheets.


After an 11 year recovery and market bull run based on cheap and easy money shouldn’t things be great and shouldn’t we be well prepared for the next downturn? Is that really too much to ask? Apparently. We can’t even go 4 weeks without the Fed going apeshit on cutting rates to zero, launching $700B in QE, making discount windows available and launching $500B, even trillion dollar repos. We can’t even go 4 weeks without the government launching a proposed $850B stimulus package, tax cuts, free money checks of $1,000 to Americans and suggesting bailouts for $BA and $GE. That’s how fragile things are. They must be, otherwise the system would be able to handle a temporary shock. But it can’t. Why? Well for one our supposed great economy ever has the vast majority of Americans live paycheck to paycheck:

That’s a systemic problem. Sure you can blame people for living beyond their means, but in general most people just don’t have the income power to keep abreast with rising medial costs, home prices and all the other fun inflationary items that the Fed simply doesn’t count as inflation. How ignorant they are. PCE deflator. Please. And then of course the same lesson again not learned that keeps repeating ahead of every bust: Greed and more greed. When has it ever been a good idea to chase stocks to 150% market cap to GDP or even higher? The answer is never. Yet they convinced themselves and others that it’s different this time. New flash: It wasn’t. A lesson not learned and yet they did it. The chart was screaming unsutainability. And here we are 4 weeks later, yesterday closing at 109.5% market cap to GDP:

Reversion to the mean. And it could eventually get much worse. I showed this chart in Bull Cliff in February and I stated: “Investors keep piling money into this historically priced market….Central banks can deny all they want that they are not responsible for asset price inflation, but everybody knows better. The denials are not only hollow they are straight out lies. And having created the Pavlovian effect we now see in the investment community they are leading investors to abandon all sense of risk when risks are mounting ever more around us as valuations and earnings multiples keep expanding as a result of monetary policy. And hence it may be said that central bankers may be leading investors off the cliff.”


[..] I’m not opposed to the government stepping in to help in an emergency. That’s why we have government. What I’m opposed to is the hype, hypocrisy and excess that has preceded it. People got greedy, they piled into stocks at ungodly valuations. Companies that didn’t save or prepare for a crisis, instead were focused on short term market gains to juice up their stock prices. Companies such as Boeing that cut corners and blew money on buybacks for financial engineering purposes to enrich upper management and shareholders. I say screw them. If you don’t learn the lessons of the past then live with the consequences. And who pays ultimately for the consequences? We’ve seen this movie before

Read more …

Even Tyler Durden vehemently disagrees. But this is major military supplier Boeing.

Boeing Seeks ‘Tens Of Billions’ In Bailouts (ZH)

In its latest 8K, the plunging planemaker has completely drawn down its $13.8 billion credit line that it entered in October 2018 as it “navigates current business challenges” exposing just how fast this company is burning through cash. [..] This comes just hours after sources told Reuters that Boeing is seeking a bailout of ‘tens of billions’ in US government loan guarantees amid the Covid-19 crisis.[..] As we raged previously, this bailout demand comes after the company blew nearly $100 billion on stock buybacks since 2013 helping push its stock to all-time highs not that long ago, and instead of selling stock to get liquidity, they’re asking the Trump administration for a massive bailout.

So, no, nobody in their right minds should give Boeing even one penny in “short term aid”. Instead, management and the board should be ordered to sell as much stock as they need – you know, the opposite of buying it back – to maintain the business, even it means sending the stock price crashing far lower. Because it’s called capitalism, and because there is no reason why taxpayers should foot the bill for a company which instead of saving cash when times were good, was handing it out to shareholders and a handful of executives, and which should now for some insane reason be eligible for a bailout when times suddenly go bad. No: force Boeing – and others like it that spent billions repurchasing its stock while incurring massive amounts of debt – to sell its stock.

After all that’s what a public company’s stock is – a currency – and just as Boeing could repurchase it when it had cash, and lifted its stock price to all time highs, it should now sell its stock and use the proceeds to fund itself, like any other corporation does when it needs funding. Last time we checked, Boeing’s market cap was $73 billion, and it certainly afford to drop much more as the company now does the buyback in reverse. This is also a warning to Congress and the White House: if chronic stock repurchasers such as Boeing, are bailed out instead of ordered to find their own sources of liquidity, there will be a mutiny in America and rightfully so, because it was Boeing’s shareholders that got rich on the way up, and now it is somehow up to taxpayers to make sure the company, loaded up with record amounts of debt used to fund buybacks, survives one more quarter. That, in a word, is bullshit.

Read more …

We have this opportunity to get the rotten apples out, but are we going to use it?

Hotel Industry To Ask Trump For $150 Billion In Aid (LAT)

Staggered by the coronavirus outbreak, the lodging industry requested $150 billion in aid from the Trump administration Tuesday as Marriott International announced plans to furlough tens of thousands of workers. After a White House meeting with President Trump and Vice President Mike Pence, hotel industry leaders said the virus outbreak is on pace to cause a bigger economic hit than the 2001 terrorist strikes and the 2008-09 recession combined. In addition to the $150 billion requested by the hotel industry, other sectors of the travel industry — such as convention centers, theme parks and tour companies — have requested $100 billion in funding to overcome the crisis, said Roger Dow, president of the U.S. Travel Assn., the trade group for the country’s travel industry.


That is on top of the $58 billion in aid requested Monday by the airline industry to overcome a surge in flight cancellations amid new travel restrictions. Without federal aid to the travel and lodging industries, the U.S. could lose as many as 4 million jobs in 2020, pushing the unemployment rate from 3.3% to 6.3% across the country, Dow said. Hotel occupancy rates were around 80% a few weeks ago but are now 10% to 20% in the busiest cities of the country, Chip Rogers, president of the American Hotel & Lodging Assn., said in a conference call with reporters. The federal aid, he said, has been requested in the form of grants to keep workers employed until the crisis subsides. Details about how the money would be disbursed had yet to be decided, Rogers said.

Read more …

Should casinos be bailed out? Or only those owed by Native Americans?

American Indian Casinos Close For Coronavirus, Seek $18 Billion Aid (R.)

The Native American gaming industry on Tuesday requested $18 billion in U.S. federal aid as it shut casinos that are the sole source of commercial revenue for dozens of tribes in a bid to slow the coronavirus epidemic. Tribal governments will be unable to provide health and education services and will default on loans unless they get federal support to make up for lost casino money, the National Indian Gaming Association said in a letter to members of the U.S. House of Representatives. “Providing the means for tribal governments to continue paying all employees’ salaries and benefits will immensely help this country recover,” according to the letter addressed to Representatives Deb Haaland and Tom Cole of the House Native American Caucus.


The United States’ roughly 460 Indian casinos are in the process of closing given the threat of coronavirus to tribal members and many non-Native American employees. Tribes are sovereign nations but are following advice from U.S. states and the federal government to slow the virus’ spread. That means shutting American Indian casinos which employ a combined 700,000-plus people directly and indirectly and generated over $37 billion in 2017, making them the largest segment of the U.S. gaming industry, according to the association.

Read more …

Frances Coppola: “Demand is falling because of virus control measures. Giving people money to spend (above their normal income) while simultaneously making it impossible for them to spend it is absurd.”

Mnuchin Warns Senators Of 20% US Unemployment Without Coronavirus Rescue (R.)

U.S. Treasury Secretary Steven Mnuchin warned Republican senators on Tuesday that the country’s unemployment rate could hit 20% if they failed to act on a proposed coronavirus rescue package and there was lasting economic damage, a person familiar with the closed-door meeting said. Mnuchin met with senators to persuade them to pass a $1 trillion stimulus package that would send cash to Americans within two weeks and backstop airlines and other companies. The Senate is majority-controlled by President Donald Trump’s fellow Republicans. A Treasury official said Mnuchin was not providing a forecast but trying to illustrate the potential risks of inaction.


“During the meeting with Senate Republicans today, Secretary Mnuchin used several mathematical examples for illustrative purposes, but he never implied this would be the case,” Treasury spokeswoman Monica Crowley said in an emailed statement. The warning was similar to one issued to U.S. lawmakers at the depths of the 2008 financial crisis, when Treasury Secretary Henry Paulson and Federal Reserve Chair Ben Bernanke went to Capitol Hill to urge passage of a $700 billion plan to buy toxic mortgage assets.

Read more …

“56% of Americans considered the coronavirus outbreak a “real threat,” while 38% said it was “blown out of proportion.”

18% Of US Workers Have Lost Jobs Or Hours Since Coronavirus Hit (LAT)

As fallout from the coronavirus pandemic hits the economy, it’s slamming the American workforce: Some 18% of adults reported that they had been laid off or that their work hours had been cut, a new poll found. The proportion affected grew for lower-income households, with 25% of those making less than $50,000 a year reporting that they had been let go or had their hours reduced, according to a survey released Tuesday by NPR, PBS NewsHour and Marist of 835 working adults in the contiguous United States. The poll was conducted Friday and Saturday, just after stocks began their steep plunge and normal life started grinding to a halt, with schools and places of worship closing, concerts and conferences being canceled and sports leagues suspending their seasons. The same poll found that about 56% of Americans considered the coronavirus outbreak a “real threat,” while 38% said it was “blown out of proportion.”

Read more …

Couldn’t we all make this prediction? It depends on 1001 variables. Who needs an expert for this?

COVID-19 Pandemic Could Continue For 2 YEARS – German Health Expert (RT)

A senior German disease control expert has warned that the coronavirus pandemic could continue for two years, depending on how long it takes for an effective vaccine to be developed and if people develop immunity after illness. Speaking on Tuesday, the Robert Kock Institut’s (RKI) president, Prof. Lothar Wieler, said pandemics tend to run their course in waves, and factors influencing how it unfolds from this point include how many people become immune to it after contracting the virus – and how quickly a vaccine is made. The RKI, a German federal agency responsible for disease control and prevention, on Tuesday raised the country’s threat level from the ongoing coronavirus pandemic from ‘moderate’ to ‘high’.

It said the revision comes in light of the continuing increase in new infections of the rapidly-spreading virus, which originated in China late last year and whose symptoms range from fever to serious respiratory illness. Germany has recorded over 7,900 cases of Covid-19 to date, with 20 deaths. New research from RKI scientists and the Helios clinic group also says that the novel coronavirus can more seriously afflict adults aged under 60 who have no underlying health conditions than similar patients suffering severe pneumonia in the regular flu season.

Although countries around the globe have largely stepped up measures to counter the spread of the virus, including border closures, shutting schools and limiting mass gatherings, Covid-19 cases outside of China recently surpassed the total figure recorded inside the country that had, until now, suffered the worst of the outbreak. Italy, in particular, is struggling with the pandemic and recorded a larger single-day number of deaths last weekend than China did at the worst of the peak there.

Read more …

I thought we already knew that, but the article is dated the 17th.

New Coronavirus Can Persist In Air For Hours And On Surfaces For Days (R.)

The highly contagious novel coronavirus that has exploded into a global pandemic can remain viable and infectious in droplets in the air for hours and on surfaces up to days, according to a new study that should offer guidance to help people avoid contracting the respiratory illness called COVID-19. Scientists from the National Institute of Allergy and Infectious Diseases (NIAID), part of the U.S. National Institutes of Health, attempted to mimic the virus deposited from an infected person onto everyday surfaces in a household or hospital setting, such as through coughing or touching objects. They used a device to dispense an aerosol that duplicated the microscopic droplets created in a cough or a sneeze.

The scientists then investigated how long SARS-CoV-2 remained infectious on these surfaces, according to the study that appeared online in the New England Journal of Medicine on Tuesday – a day in which U.S. COVID-19 cases surged past 5,200 and deaths approached 100. The tests show that when the virus is carried by the droplets released when someone coughs or sneezes, it remains viable, or able to still infect people, in aerosols for at least three hours. On plastic and stainless steel, viable virus could be detected after three days. On cardboard, the virus was not viable after 24 hours. On copper, it took 4 hours for the virus to become inactivated.= In terms of half-life, the research team found that it takes about 66 minutes for half the virus particles to lose function if they are in an aerosol droplet.

That means that after another hour and six minutes, three quarters of the virus particles will be essentially inactivated but 25% will still be viable. The amount of viable virus at the end of the third hour will be down to 12.5%, according to the research led by Neeltje van Doremalen of the NIAID’s Montana facility at Rocky Mountain Laboratories. On stainless steel, it takes 5 hours 38 minutes for half of the virus particles to become inactive. On plastic, the half-life is 6 hours 49 minutes, researchers found. On cardboard, the half-life was about three and a half hours, but the researchers said there was a lot of variability in those results “so we advise caution” interpreting that number.

Read more …

Encouraging, but looks like a long time option.

Australian Scientists Map How Immune System Fights Virus (BBC)

Scientists in Australia say they have identified how the body’s immune system fights the Covid-19 virus. Their research, published in Nature Medicine journal on Tuesday, shows people are recovering from the new virus like they would from the flu. Determining which immune cells are appearing should also help with vaccine development, experts say. “This [discovery] is important because it is the first time where we are really understanding how our immune system fights novel coronavirus,” said study co-author Prof Katherine Kedzierska. The research by Melbourne’s Peter Doherty Institute for Infection and Immunity has been praised by other experts, with one calling it “a breakthrough”.


Many people have recovered from Covid-19, meaning it was already known that the immune system can successfully fight the virus. But for the first time, the research identified four types of immune cells which presented to fight Covid-19. They were observed by tracking a patient who had a mild-to-moderate case of the virus and no previous health issues. The 47-year-old woman from Wuhan, China, had presented to hospital in Australia. She recovered within 14 days. Prof Kedzierska told the BBC her team had examined the “whole breadth of the immune response” in this patient. Three days before the woman began to improve, specific cells were spotted in her bloodstream. In influenza patients, these same cells also appear around this time before recovery, Prof Kedzierska said.


Chest scans showed the patient’s lungs clearing after immune cells appeared

Read more …

Iran has released 54,000 + 85,000 prisoners “temporarily”.

A Coronavirus Outbreak In Jails Or Prisons Could Turn Into A Nightmare (Vox)

The next site of a deadly coronavirus outbreak may not be a cruise ship, conference, or school. It could be one of America’s thousands of jails or prisons. Just about all the concerns about coronavirus’s spread in packed social settings apply as much, if not more, to correctional settings. In a prison, multiple people can be placed in one cell. Hallways and gathering places are often small and tight (often deliberately so, to make it easier to control inmates). There is literally no escape, with little to no space for social distancing or similar recommendations experts make to combat coronavirus. Hand sanitizer can be contraband.

Such an outbreak could not only infect and kill hundreds or thousands of people in prison, but potentially spread to nearby communities as well. Visitors and correctional staff could spread the disease when they go back home, and inmates could spread it when they’re released. Even an outbreak contained within a jail or prison could strain nearby health care systems, as hundreds or thousands of people suddenly need medical care that jails and prisons themselves can’t provide. So if you want to “flatten the curve” to spread out the illness and avoid overwhelming health care systems, experts say, you should worry about coronavirus in prisons and jails.

In the US, the concern is particularly acute because America puts so many people in jail or prison. The US locks up about 2.3 million people on any given day — the highest prison and jail population of any country in the world. With an incarceration rate of 655 per 100,000 people, the US locks up people at nearly twice the rate of Russia, more than five times that of China, more than six times Canada and France, nearly nine times Germany, and almost 17 times Japan. “We can learn what works in terms of mitigation from other countries who have seen spikes in coronavirus already, but none of those countries have the level of incarceration that we have in the United States,” Tyler Winkelman, a doctor and researcher at the University of Minnesota focused on health care and criminal justice, told me.

Read more …

While France and Germany go out of their way to keep EU (Schengen) borders open, EU member Cyprus says no.

Cyprus Bans Flights From 28 Countries From March 21 (R.)

Cyprus on Tuesday announced a two-week ban on flights from 28 countries, including Britain and Greece, to curb the coronavirus outbreak. The measure will come into effect from 0100 GMT on March 21 for a 14-day period, an official statement said. It does not affect cargo flights. The island has already enacted stringent entry requirements, effective from March 16, barring anyone into the island, including Cypriots, without a medical certificate that they are clear of coronavirus. Those who do arrive are placed in compulsory quarantine in a government-supervised facility for two weeks. The east Mediterranean island has reported 49 cases of coronavirus.


Australia’s DFAT travel advisory map has been updated. Every country in the world is labelled “Do Not Travel”, for the first time ever.

Read more …

Best friends.

Beijing Tells NYT, WSJ, WaPo Journalists To Hand In Credentials (RT)

China is pulling the press credentials of US journalists from outlets including the New York Times and the Washington Post whose passes expire in 2020, in the latest move of an ongoing tit-for-tat with America over media access. In a statement about China’s “countermeasures against US suppression of Chinese media organizations in the United States,” Beijing announced that American reporters working for the NYT, Wall Street Journal, Voice of America, Time and the Washington Post whose credentials are due to expire by the end of this year must hand them over within 10 days. These reporters will also not be allowed to work in China – including Hong Kong and Macau – in the future, and other US journalists will face new visa restrictions similar to those Washington recently introduced for Chinese reporters.


“In view of the US’ discriminatory restrictions on visas, administrative review, and interviews of Chinese journalists, China will take reciprocal measures against US journalists,” it added. The back-and-forth expulsions of journalists started in February, when Chinese authorities gave three Wall Street Journalists five days to leave the country after Beijing objected to an opinion piece in the outlet calling China the “real sick man of Asia.” The paper refused to apologize for the piece. Shortly afterwards, the US dramatically reduced the number of journalists it would permit to work for four Chinese state-owned media companies inside the US, cutting the number allowed from 160 to 100. They also reduced the length of time those permitted entry could remain in the US. Beijing condemned the move as reflecting a “Cold War mindset” and warned of retaliation.

Read more …

 

Clean water in Venice for the first time in forever. The flipside of this: Free parking in Athens to limit use of public transportation.

 

 

 

 

 

 

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Home Forums Debt Rattle March 18 2020

This topic contains 47 replies, has 20 voices, and was last updated by  Dr. D 2 weeks, 5 days ago.

Viewing 40 posts - 1 through 40 (of 48 total)
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  • #55499

    Matson Aircraft refueling at Semakh, British Mandate Palestine 1931   • Global Powers Unleash Trillions Of Dollars To Stem Coronavirus Crisis (R.
    [See the full post at: Debt Rattle March 18 2020]

    #55500

    I don’t want to publish -even- later, but that means I missed this again:

    Iran reports +1,192 more cases and +147 new deaths

    #55501

    V. Arnold
    Participant

    Ugh!
    I’d rather watch Notting Hill for the 10th time…

    #55503

    Dr D Rich
    Participant

    It’s all inverted, sideways, chaos.
    Administrators, (read nurses, business managers, non-practicing doctors, pharmD) were nowhere to be seen and locked in closed door meetings for days. Only to emerge with two RNs giving me an order to review 8 weeks worth of scheduled patients and inversely prioritize these patient’s medical necessity. I sat down with my lead technician and determined the priorities and the tech gave the answer to the two sequestered RNs.
    What happened next exposes the game. The RNs both send a reply thru the tech back to me that “Doctor, your responsibility is to give the answers to us. Your compliance is required.”

    Simultaneously, in this small and once proud town in western Pennsylvania now ravaged by the meth/opioid epidemics, they closed the bars and gyms.

    And there you have it. This entire, massive exercise reduces down to obedience and loyalty testing.

    Right now, The Other is being identified then marginalized or eliminated. I should never be amazed but I always am as to how quickly they identify the Outliers. Sometimes I wonder if the sign is printed on our foreheads.

    #55504

    V. Arnold
    Participant

    It’s all inverted, sideways, chaos.

    Yes. The tail wags the dog…
    Time to make one’s way to Storey Book Land…
    …and get control of one’s life; break the law if all else fails…

    #55505

    Dr. D
    Participant

    I realized at least one important things I’m missing:

    No sense following cases, that only shows how many tests are run.
    No sense in following deaths, that only tells you how able the medical system still is.
    Only follow serious/critical, which tracks the severity of the event on the public, on the resources. Only number that matters.

    “Global Powers Unleash Trillions of Dollars to Stem Coronavirus Crisis (R.)”

    So they’re transferring MY money to you, or especially THEM, via inflation? Whatever, I knew they were going to anyway. MONEY means N O T H I N G. Only resources, real things, beds, doctors, time, etc have meaning. But they pretend they can make more of those while taking them FROM me and other workers, to the rich and non-working, and the people cheer. No doubt because they’re not working, and you always get the vote of Peter to rob Paul. Meh. Indifferent. It can oil the gears. And also expose how money has no value, no meaning, no purpose, no point, and reset the system to honesty. …Via hyperinflation. As targeted 40+ years.

    Speaking of, that’s why the market can go up. We have no market anyway, just 99 & 44/100th rigging. So what’s the difference? We can have a price as devoid of real economy as casino chips and pokemon cards. It will be sidelined and replaced with something else, viz:
    “What are the ramifications if the Fed Put doesn’t work anymore? Central Banks will need to move on.”

    Move on from markets, now that the government has totally, utterly corrupted and ruined them. Total destruction! Not a lick is working here anymore! Our work is done!

    “Why is it so important to stop this crash?”

    A: because my pals would lose money, duh. The roads, power lines, rails, factories, workers, machine tools, would all still exist. The country would be not a whit poorer. However in bankruptcy the assets would have new owners. And I would not be one of them, so it must be stopped at all costs. With your tax dollars. To me. And the people cheer!!! Save me daddy government, save me! Give all the power to government, to Trump personally! Right, deBlasio? What could go wrong??? Do nothing, do no work, take from others. Step 3: Profit!

    “Companies such as Boeing that cut corners and blew money on buybacks”

    This had always been illegal – and rightfully so – until Clinton? Rule change, not law. Anyway, anyone could see it should be illegal, and could be again, but if you make it legal to steal, don’t be surprised if the bank is empty. All of us said so, and 100 other things like Glass-Stegal. But who coulda knowd? Every dumbest hick in all America. But not Yale and Columbia and Harvard, with Summers and the Bernank. You can visit them in their palatial estate in the Caymans and give them whot-for, I’m sure they’re just eaten up with regret.

    I’m not opposed to the government stepping in to help in an emergency. That’s why we have government.”

    If they do, if they CAN, 100% guarantee they WILL, always the rich, who have the seat, who have the ear, and always always always 100% at the expense of the poor. You’ll notice that yet another of the 10,000 things NOT authorized to government in the U.S. Constitution. They have zero mandate, zero authority. Because they knew if you give them the slightest authority they will corrupt, pick (buy) winners and losers, and the real and only loser would be the people, and their uncorrupted vote. Take away their power TO help/bail/decide/favor and you have Capitalism again. Add that power to the government and you have guaranteed Socialism/Fascism, but I repeat myself. And here we are, and here the people demand their own destruction.

    Hoover noted this in his biography, the first thing that happened crash of ’21 (he was Secretary at the time) was rich guys came into his office whining like little babies, demanding all sorts of awful ends unless he gave them money and bailed them out of losses they could easily take. Embarassing. And expensive to the people who actually WORKED and DIDN’T make dumb, reckless decisions.

    And the usual suspects, Boeing, Hotel Paris Hilton, Carnival Cruise, Casinos. No doubt Harley Davidson. Critical stuff.

    “Mnuchin Warns Senators of 20% US Unemployment without Coronavirus Rescue (R.)”

    I thought he was handing out money. Handing out jobs is something only the private sector can do. Remember the last “helping” bailout where “shovel ready” went forward with $1.5M paid/job? Oh and Solyndra went down. Hey, wait, I thought people were supposed to stay home; now they drive to work too??

    If you want to “help” with bills, fine, but don’t pretend you’re creating jobs when the roads and bars are closed.

    Because, always partisan, one article:

    “Washington Post Columnist Jennifer Rubin Says “There Will Be Less Democrat Deaths” Than Republican” because they are old and dumb and in FoxTV denial vs. next article:

    “Spring-Breakers Pack Florida & Texas Beaches as Pandemic Threatens Societal Collapse” as they are young and Liberal.

    Seems like being unconcerned and unaware is an equal opportunity human trait.

    #55506

    V. Arnold
    Participant

    “Spring-Breakers Pack Florida & Texas Beaches as Pandemic Threatens Societal Collapse” as they are young and Liberal.

    Seems like being unconcerned and unaware is an equal opportunity human trait.

    On the Beach, comes to mind…

    #55509

    Are there a lot of people around here who have virus fatigue yet?

    #55511

    boilingfrog
    Participant

    Dr Rich,
    Probably I’m thick but I sort of missed your point, but am VERY curious to understand your intent… What I got was that you HAD complied in putting together the priority list… Was there an inferred tone I missed in their message back to you? Did you step out of proper channels?

    Stay safe, keep commenting when able, please. I’m in SW Virginia, lots of “once proud” towns and once good, crumbling infrastructure here, too.

    #55513

    Oh, nuts. My link didn’t work.
    “people with blood type A most susceptible to corona virus infection…” from “medRxiv” via Tass.

    #55514

    neoh
    Participant

    “Are there a lot of people around here who have virus fatigue yet?”
    Not on the TAE board since we tend to discuss reactions and ramifications instead of panic panic panic

    An example of virus fatigue from MSM:today:

    Virus infections reach 200,000!!!
    Due to a math impaired population in my country… .0025% (approximate)

    #55515

    boilingfrog
    Participant

    Illargi,

    I’m in the Appalachian mountains of SW Virginia, a mash-up of big-dollar non-profits (healthcare and higher education) slammed right up against a hard-scrabble mountain folk who have hard lives and low expectations.

    One concern I’ve heard from the higher ed folks is that there simply isn’t the bandwidth available for every class to suddenly “go on-line”. Amongst them I also see a strange cognitive dissonance, as if simply going “on-line” is fine, and their tenured, well-paid, well-benefitted lives will just roll along after this “bump”. Thus far I haven’t seen any sign of acknowledgement that political and financial factors may become much bigger factors in their lives, but I watch for it.

    An elementary special-ed teacher I spoke with last evening said there is a very wide variance in internet accessibility and speeds amongst her students, from those who live near town near the universities versus those in the single-wides farther out. But her bigger concern was simply FEEDING these kids.

    I just bought more soup and flour and bread and am enroute to drop at the homes of elderly folks in my community, most with compromised systems.

    Regarding your question on fatigue, one homebound friend texted, “I’m losing my F***G mind!” But we’ll get her settled down…

    #55516

    zerosum
    Participant

    My comments and opinions don’t change anything.
    I foresaw that the virus would mutate to MMT-ViRUS.
    I’m sure that we all see how the virus is hiding all the scams and taking the blame for everything.
    The virus is also, infecting the tropic countries.
    We are seeing the changes of the fall of empires.

    The rich, with the help of their accountants, lawyers, and politicians are battling like pigs, for all dollars from the printing press.

    If I cannot pay my bills, the rich will send the bill collectors to do me harm. There will be nobody to protect me. The protectors will be hired by the rich.

    Canadian Oil prices below $20.00. Are the sellers the same as the buyers?
    That not selling. That is stealing.

    #55517

    zerosum
    Participant

    This was my second attempt to post. Its much better.
    The Canada – USA borders are officianly closed.
    The border cameras were showing,Nobody was going across the borders.

    #55518

    Raul Ilargi Meijer:
    I look at the daily run on The Virus as installments in a comic book series. I’m frankly addicted to them. It’s something to do during the Great Shutdown.
    I went for a long walk yesterday, and the number of people strolling about amazed me. Kids (school’s closed) were doing homework on park benches. Everybody was smiling and cheerful. So far, so good.

    Wasn’t Boeing “just” reflecting what Lagarde said: “Do you want jobs? Or do you want savings accounts?” Boeing didn’t want savings. I’m sure it had nothing to do with pumping up their share price. Jobs! /s
    It was unclear as to why jobs or savings were exclusive of each other.

    So, not yet, RIM. But it’s early.

    #55519

    When you got a virus
    When you got a bug,
    Making rich folks richer
    Is better than a hug.

    I’m sorry. I can’t help it. I’m one of those poets who hates reading poetry but can’t seem to stop writing it.

    #55520

    zerosum
    Participant

    Before the flue, I saw Inventory that were pilling up everywhere.
    Therefore, lets give businesses grants, loans all kinds of so that they can keep the workers producing more inventory that cannot be sold due to lack of customers.
    Its printing only 3% of canadian GDP

    Remember all of these decisions are being done by people smarter than me and with more specialized education than me.

    LET’S KEEP WATCHING THE STEPS THAT ARE BEING TAKEN TO SAVE THE EMPIRES.

    #55521

    Maxwell Quest
    Participant

    • Global Powers Unleash Trillions Of Dollars To Stem Coronavirus Crisis (R.)
    • Boeing Seeks ‘Tens Of Billions’ In Bailouts (ZH)

    I second everything Herr Docktor said about the markets. They haven’t existed since Clinton gave Wall Street the nod to deep-six Glass-Steagall. Since then it’s been off to the races, allowing greed and fraud to run unchecked. If that weren’t bad enough, the Fed, like Casey Jones reborn, continuously pumped more and more financial fuel into the supercomputer algos and board rooms that game the system every nanosecond in order to skim wealth from the unworthy and unconnected.

    And when the mortgage industry blew a gasket in 2008, our glorious media did a wonderful job of providing cover. I couldn’t believe how many of my acquaintance were clueless as to the real cause: massive and systemic fraud. This cover kept all those bewildered citizens (victims) from ringing Congress and demanding in fits of rage to have the guilty thrown in into the darkest dungeon. And just in the nick of time, the silver-tongued sellout, Obama, let the bankers transfer all that private debt to the public, setting the stage for the ‘everything’ bubble we have today.

    “Give a man a gun and he’ll rob a bank; give a man a bank and he’ll rob the world.”

    #55522

    Sugarman
    Participant

    My first post – hello to all.

    That the UK was working towards a policy of “herd immunity” is shocking; that it considered 260000 deaths an acceptable cost is grotesque:

    https://www.theguardian.com/society/2020/mar/18/uk-failures-over-covid-19-will-increase-death-toll-says-leading-doctor

    #55523

    Dr D Rich
    Participant

    Inferred tone?
    A physician with 32 years experience (that is military medical, public health, veteran care, combat casualty, mass casualty/disaster preparedness, disability evaluation, high volume outpatient, high volume surgical, medical error/malpractice investigation, aviation mishap investigation, “executive” medicine qualified/experienced) was ordered to report to two nurses, two nurses who were part of the special, secret, invitation only huddle that took place durung all working hours of the past week WHILE the rest of the hospital was run by the rest of the non-invitees and me. Y’all do know the hospital still had to run while the special invitees were receiving the special message that would burn our virgin ears?
    Once enlightened from the special secret meeting information, the two nurses set forth to impose the plan, halt care and impose their authority……
    over an independent authority, a physician surgeon.
    How halting healthcare, indeed suspending clinics and surgery, serves the coronavirus hysterical fighting purpose escapes me entirely because it violates every concept of infection control, sterile procedure and communicable disease gathered over the history of man.
    The plan, if they’re not just running the exercise from an empty playbook, seems to be:
    1. Empower the most reactionary nutjob Authoritarians (located on most ICUs)
    2. Impose mass hysteria, industrial scale social isolation and an epidemic of bewildered helplessness
    3. Reward the Authoritarian Followers to greae the skids of this operation. Reward them with rank, title and land grants…worthless cash works too as in those billion dollar pallets of $100 bills air cargoed to Iraq late in 2008.

    #55524

    John Day
    Participant

    http://www.johndayblog.com/2020/03/opportunity-or-denial.html
    We, here in Austin, Texas have taken steps to slow the spread of coronavirus, before seeing evidence with our own eyes of people getting sick and dying.
    This community effort in slowing down and distancing is now completely supported politically.
    I say that because they have shut the strip clubs.
    They shut all bars and restaurant dining rooms yesterday, and that includes the politically powerful strip clubs.
    I saw rush hour traffic getting a bit less last week, including last Thursday, it was notably decreased on my bike commute Thursday, but markedly decreased Friday, when they closed schools the last day before spring break.
    That was a powerful Friday the 13th message.
    Friday the 6th, they had canceled South By Southwest, the big signal flare.
    The Friday evening traffic out of Austin was much, much less than the week before. Traffic this weekend was very light. I should not really call it “traffic” now.
    I worked at People’s Community Clinic Monday. I will no longer take Mondays off.
    We were setting up the adult and pediatric patient flows for respiratory precautions, masks, gowns, gloves, swab-testing, cleaning the small set of rooms we are using for that, and isolating people to wait outside in chairs if they are going into that flow. I had no patients scheduled as I was point-man for the first kid (with suspicious and defensive dad) and first adult, then 4 more adults.
    We discovered lots of things we needed to adjust, lots of kinks and catches, lots of expenses and limitations of supplies. We are very short of test kits. We can really only test people with a high suspicion of symptoms of coronavirus, nobody who is asymptomatic.
    We have lots of spring pollen allergies, some colds, still some influenza, lots of worry, and anxiety-patients are all worse than usual.
    I did our first parking-lot visit yesterday, because it was so much less wasteful of resources than using a dedicated room and protective gear for a young mom, there for anxiety/depression, whose very active 4 y/o daughter had allergies and a little cough. The daughter hung out of the back seat window “I’m on top of the world”, as I stood outside the driver’s door with pen and paper, having reviewed the medical record first, and printed up a few pages for reference.
    Tomorrow a team of us will go to the first outdoor tent clinic set-up, being completed today, where I used to do urgent-care work. We will see what we should take, and what we should modify, as we set up our outdoor facility.
    All of this seems quite mundane, and it is a benefit to us, to be able to work out our procedures while things still feel mundane.
    We have not yet had a positive test result at People’s Clinic, though there were 10 confirmed cases reported in Austin yesterday, mainly because of when tests became available and the turn-around time on reporting. This morning there are 7 more confirmed cases here.

    Returning to the community response, it has been wholehearted at all levels, as much as such a thing can be.
    My marker as a bike commuter is the traffic.
    Traffic looks like something well under 10% of usual. It feels like 5-7% of usual. It’s just not “traffic”.
    Everybody in stores and public places ha been showing reserve in their body motions for a week, keeping distances, being careful how they touch things, and there are fewer in the stores, somewhat fewer.

    There are a lot more people out walking as couples, walking dogs, walking with kids and riding bicycles in groups.
    Most of Austin is far more spread out than Asian and European cities, so this is completely safe and sanctioned activity.
    Here we see a hidden cost of high-density living, which community planners have been pushing for decades.
    High density occupation is the perfect culture medium for dread contagion. If everybody goes outside the apartment in Wuhan, everybody is mingling in the street in close proximity. There are only some areas of central Austin with dense apartment blocks, of fairly recent construction. I’m concerned about those big, dense apartment blocks and dormitories.
    Suburban layout is far safer for social distancing.
    Vegetable gardening is the ideal activity in suburban quarantine, where you are good to walk the dog and ride your bike.
    It’s funny. All employees are now routed into People’s Clinic through the vegetable garden I keep, into the downstairs kitchen-break area, where we get temperature screened before starting work. I intend to post to everybody to grab the sugar-snap peas and gobble them. Delicious, at their prime, and each one untouched-by-human-hands.

    Here at home, the birds and pill-bugs have taken all of the cucumber sprouts I planted last week. I’ve just planted again, and planted some beans in there to be decoys for the hungry critters.
    I hope it works.

    #55525

    boilingfrog
    Participant

    Hey doc, thank you very much for that explanation, greatly appreciated! Like I said, I can be “thick” in understanding typed things where I can’t hear tone or see facial, and have zero understanding of the normal protocols and such, so thanks for taking the time and clearing me up on this…

    #55526

    strangerdanger457
    Participant

    I have a question if anybody can take a crack at it I would be extremely grateful. If I had (In an American bank savings account) a decent chunk of cash, and I am wanting to buy land like Nicole Foss and set up a farm/compound kinda thing, should I buy now or wait a few years or so for real estate to go down in price? She was concerned about capital controls being implemented and I don’t want to lose the savings because of that, but I don’t want to pay inflated prices for land either. In a podcast from 2015 she said don’t take on debt to make a purchase like that I think, but I won’t have to take on debt if the prices go down significantly. Is it likely capital controls will be put in place in the near future, like the next 18-36 months? Should I get out of the banking system sooner rather than later?

    #55527

    zerosum
    Participant

    mmt -virus COMING TO THE RESCUE.
    Update (1255ET): The UAW has reportedly succeeded in convincing Detroit automakers to shut down all US factories, following similar decisions by German and South Korean car companies.

    #55528

    regionswork
    Participant

    Corporations get Universal Basic Income for themselves and cover for all past mistakes. Boeing for 737 MAX & lesser failures coming to light. Auto manufacturers can stop producing vehicles that have no buyers.

    Shutdown will show the scope of pollution as sky and water clear. This won’t correct the damage. That will take decades. It is like when smoking bans took place and we found out how stinky it made our indoor environments. People still dying from that last century smoke and other lung damaging economic activities.

    To regrow and outgrow is where the coming necessities will take us. A greater community spirituality where competition focused on problem solving without proprietary hooks that thwart evolutionary development would be helpful. A singularity is not useful, as that is an end to creativity.

    #55529

    zerosum
    Participant

    Banks are going to give a break on due dates for mortgage payment.
    Did any one hear anything about credit card?

    #55530

    Rototillerman
    Participant

    Strangerdanger457, what was it Yogi Berra once said? Something like “Predictions are hard, especially about the future…” That being true, it is very hard to know if/when capital controls will come to the U.S. I tend to think that you won’t see capital controls until there is a fairly obvious run on the banks. What you seem to be envisioning, if I’m reading between the lines correctly, is One Big Jump out of The System. What I would suggest, instead, is to look for many little ways to lessen your dependence on the system, while still keeping your eyes open for an opportunity that matches your pocketbook. Some suggestions are to pick up useful skills like repairing things, growing and cooking food, and building social relations. Get out of debt at every level. Take complete responsibility for your health by paying a lot of attention to nutrition and exercise. And work hard to ensure that your entire family is on board for the lifestyle change you’re contemplating; sometimes that takes years, or doesn’t even happen then. Also, your question would probably spark a lively debate over at Peak Prosperity, where there are a lot of folks who have either made the transition you described, or are hoping to make the change in the near future.

    #55531

    oxymoron
    Participant

    John, pill bugs are the worst. In this dry climate they are great decomposers but shocking with vegetables. So hot and dry you need mulch in summer but if you put it down they ringbark every seedling. Our answer is to plant into tin cans open top and bottom dug into earth as a barrier. Also removing mulch until the plant stem hardens off.

    Keep up the good work,

    Oh and the cabbage whitefly can jump off a cliff- they are the worst.

    #55532

    WES
    Participant

    Zerosum:. If you don’t mind my asking, which US/Cdn border crossing have you been watching? Thanks.

    #55533

    oxymoron
    Participant

    Strangerdanger457 I think the titanic metaphor is useful here but not perfect. It is about timing – if the ship is actually going down then the rush is on already and the strategies you are contemplating may be a little late in the piece. Holding cash is always good as a hedge and buying something even this week may be hard or impossible as business everywhere is going full tilt wind back. Rototillerman’s advice above is spot on – spread your resilience into many areas including skill set and health. If you can buy without debt now – it may be safer than to try and hold large liquid sums in what ever form through the slide in prices. Avoid debt but trying to spot a bargain in this time is a high risk high speculation proposition in my opinion but I’m not an expert.
    All the best and remember this virus in terms of actual percentage of the population dying may not be high but the risks are still there so focus on health as per John Day’s recommendations.

    #55534

    zerosum
    Participant

    Try these links. BC need to try to control the virus. So far, its been in care homes and the care workers.

    Home

    —–
    I just took the gran kids to the garden. Now, we are planting seeds in “starter pucks”

    #55535

    boscohorowitz
    Participant

    Old Man Pepe weighs in on the mysterious origins of the virus and similar stuff:

    China Locked in Hybrid War with US

    #55536

    zerosum
    Participant

    BC new numbers
    45 new, total 231, 7 dead

    #55537

    WES
    Participant

    I have noticed that Ontario health officials seem to have stopped their daily media briefings this week. I can find daily health briefings from the other 9 provinces, just not Ontario!

    In the last 4 days, confirmed cases have fallen every day this week! Monday 43, Tuesday 32,. Wednesday 13, and today Thursday, just 12 new cases!

    Obviously Ontario must be winning the war on the coronavirus! Just like China!

    Wrong! They have just stop testing!

    #55538

    boscohorowitz
    Participant

    Old Jesse the Americain, has what strikes me as an easily understood cogent overview of the economic crash aspect of it in terms of financial markets:

    1929<><2020

    Having quarantined myself, I look forward to visiting the store when next needed wearing my patented bandito anti-virus face protector. And cheap cotton gloves. By then I suspect I won’t be the only one.

    And now, a little arts and crafts:

    All Dressed Up…

    #55539

    MrMoto
    Participant

    Ontario Testing

    Wes you better check your sources for those numbers – they are way off.

    Today Ontario got the results of over 900 tests.

    890 were negative and 25 were positive.

    There are 3378 tests taken and awaiting results.

    They have been holding back on tests a bit because of a shortage of swabs. (swabs were sourced in Italy!!!)

    Apparently our Global ‘thought leaders’ never considered that a Global Pandemic would disrupt Global supply chains and thus make the fight against said Global Pandemic a lot harder than it should be!

    Ontario should be able to process 1000 tests a day and they were looking to expand that – don’t know the current status on that but we’ll get a hint when we see the number of results tomorrow.

    They are testing as much as they can.

    The real number to watch is ‘Currently under investigation’.

    They had that down to perhaps 10 or so after the initial impulse from China but now it keeps climbing
    400 to 800 to 1300 to 1500 and now over 3000.
    We are on that curve going up.

    It will take 2 weeks or so for any ‘social distancing’ to actually make a difference but I think that will be swamped by the number of returning snowbirds etc.

    Buckle up kids!

    #55540

    VietnamVet
    Participant

    Please keep Automatic Earth up to date on COV-19 pandemic. I’m starting my third week of sheltering in place, without this site I’d stop getting Deja-vu, over and over, again. WaPo finally admitted the likely number of deaths of Americans when the hospital system breaks down is a million or more. Only because the deep state insider, the Imperial College London, said so. Or that private hospitals won’t buy ventilators for critical patient surges that are already hitting in hot spots because it will eat into their profits. Only government can do this.

    Owned by Jeff Bezos, the WaPo didn’t ask why the US federal government failed to make crash purchases two months ago of ventilators when it would have made a difference and cut the number of deaths. The people responsible for manslaughter need to be jailed and a Truth and Reconciliation Commission formed if the United States is to come out intact on the other side in the months and years ahead.

    Each Western nation closing their border is the death knell for the Empire and the EU.

    #55541

    boscohorowitz
    Participant

    By the Numbers

    “Some days back, I stated that I didn’t think we’d bring Kung Flu patients into the hospital, but instead, triage them in tents outside, then send the ones meeting criteria to some FEMA-set-up Kung Flu Treatment Center, staffed as possible, and serviced by dedicated Hazmat 9-1-1 ambulances, whisking members of the community there as appropriate, in full protective gear, 24/7/365.

    “Because, as I argued with flawless logic, to do otherwise would be to
    a) risk our entire healthcare system being overwhelmed and destroyed, a la Italy, and
    b) make every other medical emergency impossible to deal with, thus doubling casualties from every other treatable and preventable cause of death, from heart attacks and strokes to appendicitis, because the entirety of any and every hospital would be filled with Kung Flu-infected plague petri dishes, in every nook and cranny.

    Turns out, TPTB, top to bottom, make the Italians look like Leonardo da Vinci.

    1) We’re not putting tents up everywhere.
    2) We’re not segregating people out of the hospital.
    3) We’ll do a half-assed triage assessment outside the building somewhere (fill in the blank where___________)
    4) Using screening criteria overtaken by reality a month ago, because the CDC, no matter how asinine, is always the CDC
    4a) to wit, asking about foreign travel, even though homegrown community-acquired cases outstrip foreign travel candidates, and have for two weeks
    4b) ask about exposure to known Kung Flu patients, even though the CDC and local public health departments refused to test for Kung Flu until four days ago, in most cases, (due to jackassery, fuckwittery, and a dearth of functional kits for two months) thus insuring via Catch-22, that if you never test for King Flu, nobody anyone was in contact with ever officially has Kung Flu
    5) then bring the infected into an appropriate sealed negative airflow room
    5a) which cleverly has no patient monitoring equipment
    5b) will not allow you to get portable chest x-ray equipment into the room with the patient with respiratory problems (which, cleverly, no one thought about prior to then)
    5c) which would contaminate said portable x-ray equipment every time you got it into the quarantine room
    5d) which would require an extensive, nigh impossible decontamination of said X-ray equipment for each and every subsequent patient…” and so on. He does consequetive cause-and-effect logic pretty well.

    #55542

    Did I just get blocked? That was scary.
    Mea maxima culpa.

    #55543

    Was it content? Or was is some random spam filter thing?

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