Jun 052020
 


DPC On the beach, Coney Island 1907

 

After Pakistan’s Lockdown Gamble, COVID19 Cases Surge (R.)
Most COVID-19 Cases In BC Have Strains From Europe And Eastern Canada (CBC)
Authors Retract Influential Lancet Article That Found HCQ Risks (R.)
ECB Gives Another Shot Of Stimulus As Economy Reels (R.)
Japan’s Household Spending Falls At Record Pace As Virus Stalls Economy (R.)
China Can’t Take Over US Security Presence in SE Asia: Singapore PM (SCMP)
US Schools Lay Off Hundreds Of Thousands, Setting Up Lasting Harm To Kids (R.)
Medical Martial Law: Liberalism’s Final Capitulation (Pear)
Trump Fires Back At Critics Murkowski, Mattis And Kelly (JTN)
Rosenstein Slams McCabe, Obstruction Theories, 1000 Former Prosecutors (Turley)
The Hunt For The Origins Of The Russia Collusion Narrative (JTN)

 

 

Seen a whole new bunch of utterly sickening videos again. As I said a few days ago, nothing has changed with policing in the US other than that now everyone has a camera.

But i don’t think it’s much use to post all that mindless violence here.

 

 

Worldometer puts global new cases for June 4 at + 129,990. A new record. The increase in cases warrants much more attention than it gets.

 

 

New cases past 24 hours in:

• US + 22,406
• Brazil + 31,890
• Russia + 8,831
• India + 9,908
• Chile + 4,664
• Pakistan + 3,895
• Mexico + 4,442

 

 

New daily highs in Covid-19 cases and deaths for India, Brazil, South Africa, and Mexico.

Another 20,000+ cases and another 1,000+ dead in the United States.

 

 

Worldometer puts global new deaths for June 4 at + 5,499.

 

 

 

 

 

Cases 6,724,096 (+ 127,595 from yesterday’s 6,596,501)

Deaths 393,553 (+ 5,132 from yesterday’s 388,421)

 

 

 

From Worldometer yesterday evening -before their day’s close-:

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

 

 

A curious initiative.

 

 

Taleb principles

 

 

Pakistan may be more inclined towards lifting a lockdown due to its poverty, but the cost will in the end almost certainly be much higher because of it, both in economic terms and in lives.

After Pakistan’s Lockdown Gamble, COVID19 Cases Surge (R.)

Four weeks ago, with its most important festival coming up and millions of people facing starvation as economic activity dwindled, Pakistan lifted a two-month-long coronavirus lockdown. Prime Minister Imran Khan has said despite rising infections and deaths, the country would need to learn to “live with” the virus to avert pushing tens of millions living on daily wages into destitution. Now, a Reuters review of government data shows over 20,000 cases of the virus were identified in the three weeks before the lockdown was lifted, and more than double that figure were identified in the three weeks since. To be sure, testing rates have also increased. But of those tested, the daily average of positive results climbed from on average 11.5% in the three weeks before the lockdown was lifted, to 15.4% on average in the subsequent three weeks.

The ratio is around 23% this week, according to the data. Pakistan has officially identified over 80,000 cases of COVID-19, with 1,770 confirmed deaths. “Those numbers are concerning, since they do suggest there may still be widespread transmission in certain parts of the country,” said Claire Standley, assistant research professor at the Department of International Health at Georgetown University. [..] According to a letter seen by Reuters, a committee of experts backed by the local health department in Pakistan’s most populous province, Punjab, told the provincial government the lockdown needed to continue. The letter said random testing suggested more than 670,000 people in the provincial capital Lahore had likely contracted the virus, many of them asymptomatic.


Pakistan lifted its lockdown on May 9, about two weeks before the Eid al-Fitr festival that marks the end of the Islamic holy month of Ramadan and is celebrated with family gatherings and feasting. Transport and most businesses have re-opened but cinemas, theatres and schools remain closed. There has been growing debate among experts globally on whether populous developing nations can afford comprehensive social distancing measures to contain the coronavirus while avoiding economic ruin.

Read more …

Very useful research, albeit a bit too localized.

Most COVID-19 Cases In BC Have Strains From Europe And Eastern Canada (CBC)

Strains traced to Europe and Eastern Canada are by far the largest source of COVID-19 infections in B.C., according to new modelling presented by the provincial government Thursday. Provincial Health Officer Dr. Bonnie Henry revealed the results of genomic tracing of different strains of the virus, showing that of those samples that have been sequenced, early cases linked to travel from China and Iran appear to have been well contained, leading to relatively few other infections. But beginning in March, with an outbreak that began with the Pacific Dental Conference in Vancouver, infections with strains from Eastern Canada and Europe spiked dramatically.

“One of the people that we knew was positive and had attended that conference had previously been in Germany during his incubation period before he became ill,” Henry said. Strains traced to Washington state have also been linked to a large number of cases, particularly in long-term care homes in the Vancouver Coastal Health region. Henry explained that this kind of tracing is possible because the genome of the virus changes relatively quickly, but not as fast as diseases like influenza. She also announced nine new confirmed cases of the virus on Thursday, for a total of 2,632 to date. No new deaths have been recorded, leaving B.C.’s total at 166.


The new cases announced Thursday include four people who have already recovered, people that Henry described as epidemiologically linked to previous patients who have tested positive. This means these four people were close contacts of known cases and developed symptoms of COVID-19, but may not have had access to testing at the time.

Read more …

As I commented yesterday: when they say they “can no longer vouch for the veracity of the primary data sources”, that means they never could, because they never had access to the data or the sources. We know this because it’s not as if either has dramatically changed since publication, or they would have mentioned it.

Authors Retract Influential Lancet Article That Found HCQ Risks (R.)

An influential medical journal article that found hydroxychloroquine increased the risk of death in COVID-19 patients was retracted on Thursday, adding to the controversy around a drug championed by U.S. President Donald Trump. Three of the authors of the article retracted it, citing concerns about the quality and veracity of data in the study. The anti-malarial drug has been controversial in part due to support from Trump, as well as implications of the study published in British medical journal the Lancet last month, which led several COVID-19 studies to be halted. The three authors said Surgisphere, the company that provided the data, would not transfer the dataset for an independent review and that they “can no longer vouch for the veracity of the primary data sources.”


The fourth author of the study, Dr. Sapan Desai, the chief executive of Surgisphere, declined to comment on the retraction. [..] Another study published in the New England Journal of Medicine that relied on Surgisphere data and shared the same lead author, Harvard Medical School Professor Mandeep Mehra, was also retracted for the same reason. The observational study published in the Lancet on May 22 said it looked at 96,000 hospitalized COVID-19 patients, some treated with the decades-old malaria drug. It claimed that those treated with hydroxychloroquine or the related chloroquine had higher risk of death and heart rhythm problems than patients who were not given the medicines.

Read more …

The idea: save the banks so they can lend money at higher rates than they borrow at from the ECB. Utterly crazy and useless.

ECB Gives Another Shot Of Stimulus As Economy Reels (R.)

Just months after a raft of crisis measures, the ECB again expanded its money-printing scheme to cushion a potential fall in output of up to 12% this year, even as governments spend record amounts to preserve jobs while restrictions keep businesses shuttered. “The euro area economy is experiencing an unprecedented contraction,” ECB President Christine Lagarde said. “There has been an abrupt drop in economic activity as a result of the coronavirus pandemic and the measures taken to contain it.” The ECB’s move, coming just weeks after Germany’s Constitutional Court tried to curb its powers, was also seen as an act of defiance, with one of the European Union’s most powerful institutions making clear it would not take orders from national courts.

Thursday’s decision extended the ECB’s emergency bond purchase scheme to mid-2021 and increased it by 600 billion euros to 1.35 trillion euros. That should allow the bank to buy up most of the new debt euro zone governments are issuing to overcome the pandemic. Three sources told Reuters that figure was a compromise after policymakers discussed an expansion of between 500 billion and 750 billion euros. Markets rallied on the decision, with bond yields on the bloc’s periphery tumbling, suggesting the measures would give a bigger boost to nations such as Italy and Spain, both hit hard by the pandemic and struggling with high debt levels.


Ten-year Italian yields fell by 14 basis points, but perhaps more importantly the gap between Italian and German bonds, a key benchmark, narrowed by 16 basis points. The ECB’s bond purchases come on top of big German spending plans and an ambitious European Union fiscal package, pointing to the biggest coordinated effort in the euro’s 20-year history. ECB staff dramatically revised downward their baseline scenario for euro zone output this year to a contraction of 8.7% from the modest 0.8% rise they forecast only in March.

Read more …

After ten years of Abenomics failure, here comes deflation again. Only now Abe can blame a virus.

Japan’s Household Spending Falls At Record Pace As Virus Stalls Economy (R.)

Japan’s household spending fell at the fastest pace on record in April as the coronavirus shut down travel and dining-out in the world’s third-largest economy, and prospects of higher jobs losses chilled consumer sentiment. The dismal number will keep policymakers under pressure to prevent a larger decline in the economy, which is expected to fall deeper into recession this quarter. Household spending tumbled 11.1% in April from a year earlier, government data showed on Friday, marking the fastest pace of decline since comparable data became available in 2001. The decline was slower than a median forecast of a 15.4% fall and followed March’s 6.0% decline.

Many analysts expect consumption to have bottomed out in April or May, as businesses re-open after last month’s lifting of nationwide lockdowns. But any rebound will be slow and fragile, as companies and households remain wary of spending, they say. “Unless effective vaccines are developed, a strong recovery cannot be expected for the foreseeable future,” said Takeshi Minami, chief economist at Norinchukin Research Institute. Friday’s data showed some winners and losers. Spending on bars, plane tickets, hotels and amusement parks tanked by around 90% as households were forced to stay home, the data showed.


On the other hand, stay-home policies boosted spending on pasta by 70%, instant noodles by 43% and sanitary goods like face masks by 124%, it showed. Overall, however, an expected rise in job losses and the hit to household sentiment from the pandemic will weigh on consumption, analysts say. “A lot of people are out of work and couldn’t look for jobs during lockdowns in April. Wages are likely to fall too, which will weigh on consumption,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. “Japan’s economy will rebound in July-September if there’s no renewed spike in infections. Even so, it may take until 2023 or 2024 for the economy to return to pre-COVID levels.”

Read more …

“Any confrontation between these two great powers is unlikely to end as the Cold War did, in one country’s peaceful collapse..”

China Can’t Take Over US Security Presence in SE Asia: Singapore PM (SCMP)

The US security presence “remains vital to the Asia-Pacific region,” and China would be unable to take over that role in Southeast Asia even with its increasing military might, Singapore Prime Minister Lee Hsien Loong said. In an article published by Foreign Affairs on Thursday, Lee wrote that China’s competing maritime and territorial claims in the South China Sea meant that countries in the region will “always see China’s naval presence as an attempt to advance those claims”. He also wrote that many Southeast Asian nations are “extremely sensitive” about perceptions that China has influence on their sizeable ethnic Chinese minorities.

“Despite its increasing military strength, China would be unable to take over the United States’ security role,” he wrote, adding that a US withdrawal in North Asia would compel Japan and South Korea to contemplate developing nuclear weapons to counter North Korea’s growing threat. Lee’s article comes as tensions between the US and China continue to escalate, with the world’s biggest economies sparring on everything from 5G networks to the South China Sea to responsibility for the Covid-19 pandemic. Singapore has been one of the most outspoken countries in Asia calling for the US and China to avoid a destructive clash that would force smaller countries to choose sides.


“Asia-Pacific countries do not wish to be forced to choose between the United States and China,” Lee wrote, echoing comments he’s made previously. “They want to cultivate good relations with both.” Lee warned that if the US tried to contain China, or if Beijing sought to build an exclusive sphere of influence in Asia, the two countries “will begin a course of confrontation that will last decades and put the long-heralded Asian century in jeopardy”. “Any confrontation between these two great powers is unlikely to end as the Cold War did, in one country’s peaceful collapse,” he wrote.

Read more …

You mean worse damage to kids than the school system itself inflicts? I’d say it’s a toss-up at best.

US Schools Lay Off Hundreds Of Thousands, Setting Up Lasting Harm To Kids (R.)

In April alone, 469,000 public school district personnel nationally lost their jobs, including kindergarten through twelfth-grade teachers and other school employees, a Labor Department economist told Reuters. That is more than the nearly 300,000 total during the entire 2008 Great Recession, according to a 2014 paper by three university economists financed by the Russell Sage Foundation. The number of public school teachers hasn’t recovered from that shakeout, reaching near-2008 levels only in 2019. Multiple school district administrators, public officials and teaching experts have warned that the current school personnel job loss will last for years, hurting the education of a generation of American students. It also could be a drag on economic recovery, for one thing because school districts are big employers.

The Labor Department reported on May 8 that 20.5 million non-farm workers lost jobs in April, including 980,000 government workers. Of those, 801,000 were local government employees. Although the Labor Department report does not break out the number, 469,000 of the 801,000 local government workers were K-12 public school teachers and other school personnel, the department economist told Reuters. School districts in poor areas face the most punishing blows. A Brookings Institution paper in April predicted that education layoffs “would come at the worst possible time for high-poverty schools, as even more students fall into poverty and need more from schools as their parents and guardians lose their own jobs.”


Low-income districts are particularly troubled because of plunging revenue amid the Covid-19 recession. Districts rely for revenue on local property taxes and state subsidies. Poorer districts, where property tax revenue is low, rely on states for most of their income. With states hit hard by falling income and sales taxes, aid to school districts is dwindling in many places. [..] April was an especially cruel month for education. The Labor Department report said that in addition to the 469,000 K-12 personnel, state-run colleges and universities laid off 176,000 professors and other employees. Private schools, including well-known colleges and universities and K-12 private schools, were down by 457,000.

Read more …

Don’t choose sides. There is only one.

Medical Martial Law: Liberalism’s Final Capitulation (Pear)

Liberals elected Barack Obama in 2008, laughed, cheered, cried, and then they went to sleep for eight years. They thought that Obama would do the heavy lifting for them. Instead he went from bombing three countries to bombing seven, after winning the Nobel Peace Prize for nothing. Obama looked the other way as the Police Occupied Zuccotti Park, Black Lives Didn’t Matter, and Dakota Pipelined. Obama imprisoned and tortured whistleblowers, and he became the deporter-in-chief. He bailed out the banks, while millions of families lost their homes. Obamacare enriched insurance companies and big-pharma. Gitmo stands as the legacy of Obama’s droning wedding parties and funerals, and for all his broken promises. His answer to climate change was Artic drilling, and fracking the USA.

Obama and the liberal class are the reason we have Trump. The rich do not care about any of the liberal class’s identity politics and correctness. It costs the rich nothing to make those concessions. The liberals are not willing to fight for anything of importance, and the corporatists know it. The corporatists don’t care if Trump or Biden is the next president. Bernie or bust! Fugget about it: Bernie Sanders is just a sheepdog, a foil, a professional wrestler, and Kabuki theater. Bernie is the Senator from Lockheed and Israel. He is a carnival huckster, herding the liberal suckers into the big tent. The DNC will be happy to keep Trump. They get to keep their jobs, their power, their influence, and the gravy train keeps on rolling.


Nancy Pelosi will still get her kicks from gourmet chocolate, Alexandria Ocasio-Cortez will keep making arm-waving rants to an empty House, Ilhan Omar will kowtow to the Zionist lobby, and the Congressional Black Caucus will vote against blacks. Liberals will grandstand politically correct platitudes, while the banks, corporations, military-industrial complex, Israel, and the well-connected get unlimited hand-outs. Lest I forget, fake liberal Rachel Maddow and her ilk in the media will still get paid $30 thousand a night for “Russia-Russia-Russia!”, and the New York Times will endorse every regime-change war, just as it has done for the past 150 years. And Liberals will commiserate with each other, preach to their dwindling choir, blame everybody except themselves, and waste another four years without organizing any opposition.

Read more …

Much ado about nothing at all. Clickbait.

Trump Fires Back At Critics Murkowski, Mattis And Kelly (JTN)

President Trump on Thursday unleashed Twitter attacks against former Defense Secretary James Mattis, former Chief of Staff John Kelly and sitting Republican Sen. Lisa Murkowski, pledging to see the latter unseated during her next election. Trump said he will campaign against Murkowski and endorse a candidate who challenges her. Earlier on Thursday, Murkowski said that she is “struggling” with whether to support the president in the upcoming election. “Few people know where they’ll be in two years from now, but I do, in the Great State of Alaska (which I love) campaigning against Senator Lisa Murkowski. She voted against HealthCare, Justice Kavanaugh, and much else,” Trump tweeted.


“Get any candidate ready, good or bad, I don’t care, I’m endorsing. If you have a pulse, I’m with you!” Trump also tweeted the text of a note in which his former attorney John Dowd excoriated James Mattis, the former Defense Secretary who on Wednesday issued a scathing rebuke of the president. The president urged people to read the note that Dowd wrote lambasting Mattis. “Perhaps, your anger is borne of embarrassment for your own failure as the leader of Central Command,” Dowd said to Mattis in the note.

And Trump’s former Chief of Staff John Kelly did not escape the president’s fiery criticism on Thursday either. The Washington Post quoted Kelly disputing Trump’s claim that he fired Mattis and requested his resignation. “The president did not fire him. He did not ask for his resignation,” Kelly said. “The president has clearly forgotten how it actually happened or is confused. The president tweeted a very positive tweet about Jim until he started to see on Fox News their interpretation of his letter. Then he got nasty. Jim Mattis is an honorable man.” Trump lobbed several tweets about Kelly, including one in which he said Kelly “was totally exhausted by the job, and in the end just slinked away into obscurity.”

Read more …

Rosenstein has resolved not to go quiet.

Rosenstein Slams McCabe, Obstruction Theories, 1000 Former Prosecutors (Turley)

Yesterday, we did our first live blogging on a hearing with former Deputy Attorney General Rod Rosenstein. There was a lot of broken china after the hearing was over. Indeed, the most interesting aspect was that some of the greatest damage for the Democratic narrative occurred during ill-considered questions from Sen. Mazie Hirono (D., HI) who elicited a series of answers supporting the Trump Administration and the purpose of further hearings. Rosenstein ultimately supported the need for further investigations into FBI misconduct, supported the Durham investigation, categorically dismissed claims that Trump committed obstruction of justice, and most importantly stated that he would not have signed off on the continued surveillance under the FISA for Carter Page if he knew the truth about claims of Russian collusion.

That was just a few of the highlights. He also dismissed objections from former FBI Deputy Director Andrew McCabe and the “1000 prosecutors” who were so widely cited as claiming that there was clear criminal conduct by Trump. The most important moment came at the beginning of Rosenstein’s testimony when he acknowledged that there were serious flaws and misconduct involved in the Russian investigation and that, if he knew then what he knows now, he would have put a stop to it, including refusing to sign off on the continued of the FISA surveillance on Page. He also repeatedly said in contradiction to the Democratic senators that he believed that there was a need for further investigation and that much more needs to be known about what occurred, including the source of “disinformation” in the Steele dossier and whether Steele was used by Russian intelligence and other sources for nefarious purposes.


On the investigation of U.S. Attorney John Durham, Rosenstein repeatedly endorsed the need to look into the entire Russian investigation and added “Attorney General Barr is trusting US attorney Durham to do that. I think that’s a reasonable decision.” Rosenstein also acknowledged that we still need to know more about the disinformation and that an investigation is warranted on the Steele dossier and other related issues.

Read more …

And now come the rest. Everyone but Obama and Biden. But that won’t save them.

The Hunt For The Origins Of The Russia Collusion Narrative (JTN)

Hollywood once gave us the Cold War thriller called “The Hunt for Red October.” And now the U.S. Senate and its Republican committee chairmen in Washington have launched a different sort of hunt made for the movies. Armed with subpoenas, Sens. Lindsey Graham, R-S.C., and Ron Johnson, R-Wis., want to interrogate a slew of Obama-era intelligence and law enforcement officials hoping to identify who invented and sustained the bogus Russia collusion narrative that hampered Donald Trump’s early presidency. And while Graham and Johnson aren’t exactly Sean Connery and Alex Baldwin, they and their GOP cohorts have a theory worthy of a Tom Clancy novel-turned-movie: The Russia collusion investigation was really a plot by an outgoing administration to thwart the new president.

[..] For much of the last two years, the exact theory that congressional Republicans held about the bungled, corrupt Russia probe — where collusion between Donald Trump and Vladimir Putin was ultimately disproven and FBI misconduct was confirmed — was always evolving. But after explosive testimony this week from former Deputy Attorney General Rod Rosenstein, who openly accused the FBI of keeping him in the dark about flaws, failures and exculpatory evidence in the case, the GOP believes it may prove the Russia case was a conspiracy to use the most powerful law enforcement and intelligence tools in America to harm Trump.

[..] “There are millions of Americans pretty upset about this,” Graham said this week. “There are people on our side of the aisle who believe this investigation, Crossfire Hurricane, was one of the most corrupt, biased criminal investigations in the history of the FBI. And we’d like to see something done about it.” Graham tried to take action to approve 50-plus subpoenas from the Senate Judiciary Committee to witnesses on Thursday but was forced to delay a week. Johnson, meanwhile, successfully secured about three dozen subpoenas to get documents and interviews with key witnesses from his Senate Homeland Security and Governmental Affairs Committee.


Evidence is growing, Johnson said, that there was not a “peaceful and cooperative” transition between the Obama and Trump administrations in 2017. “The conduct we know that occurred during the transition should concern everyone and absolutely warrants further investigation,” he said. With Rosenstein’s testimony now behind them, the senators have some lofty targets for interviews or testimony going forward, including fired FBI Director James Comey, his deputy Andrew McCabe, ex-CIA Director John Brennan, and the former chiefs of staff for President Barack Obama and Vice President Joe Biden.

Read more …

 

 

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Home Forums Debt Rattle June 5 2020

This topic contains 23 replies, has 10 voices, and was last updated by  Dr. D 1 month ago.

Viewing 24 posts - 1 through 24 (of 24 total)
  • Author
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  • #59580

    DPC On the beach, Coney Island 1907   • After Pakistan’s Lockdown Gamble, COVID19 Cases Surge (R.) • Most COVID-19 Cases In BC Have Strains From
    [See the full post at: Debt Rattle June 5 2020]

    #59581

    Dr. D
    Participant

    “Billionaire Dalio Warns “We Are Beginning to See Democracy Slip into Anarchy”

    No, what you’re seeing is decentralization. Or as Hugh Smith says, “the solution is fragmentation and decentralization so the unit size is reduced to the point where accountability and transparency can be enforced by the citizenry and/or members.”

    Which as I’ve said, is allowing competition and the piranhas will devour the whale sharks in hours. Sorry that’s uncomfortable. The system depends on reaching an improper extreme, and then clamping a lot of pressure down to make the extreme go further. But this is the essence of fragility: should the input energy ever waver, the underlying pressure will breach containment. …So the response is more pressure, more intervention, more rigging, as we’ve seen from 1994, 2001, 2008, and more.

    But it’s not “Anarchy”. Humans don’t know anarchy; they are inherently self-organizing. It only seems like anarchy because you’re living in a world of authoritarian violence, intervention, and dictatorship. If you wish to remove dictatorship, the thousand interventions to help undeserving idiot sons, and undeserving authority, then you must hand control back to the people, and they will self-organize. However, they are generations out of practice and their transition is messy and chaotic. To egos to whom every possible event they know better and order about, this is offensive and intolerable. Let it go. You were never in charge anyway, and everything you did wrecked it more. Let it go.

    Taleb’s second order effects that he forgot are presently beginning to kill more people than the 1st order. This was done to defend against a fat tail that is predicted for 1,000 years but never comes. But these things take time. Right now their “helping” is initiating a collapse, civil war, and long-term annihilation of the middle class that allows our system to function peacefully. Later, that will transform into the U.S. – the only remaining food exporter – to stop exporting and millions to starve. Because no one is working. As anyone could see in 10 seconds. But these things, those 100 million deaths instead of 100,000, take time. Everyone will have forgotten by then what started it all, and that it was voluntary, their fault, the fault of ‘helpers’ and schmarty-guyz like Taleb. So it goes.

    Since they’re actively trying to kill you with their good intentions, and tell you so in public, prepare accordingly.

    Low-income districts are particularly troubled because of plunging revenue amid the Covid-19 recession.”

    Helping! Voluntarily helping you right to death. No one could have seen that stopping all commerce would halt tax revenue, and thus all services. That the loss of the middle class and all services would lead to collapse and violence. The most obvious, whitest swan ever seen. But you’re killing grandma when you could kill all of us, including grandma, instead.
    The system is decentralizing, re-localizing. So stop looking for someone to help you, no one is in charge but you. Since they’re not helping but hurting, withdraw your commerce and tax as well.

    #59582

    Polder Dweller
    Participant

    The idea: save the banks so they can lend money at higher rates than they borrow at from the ECB. Utterly crazy and useless.

    The ECB really is a one-trick pony, isn’t it? The Germans, meanwhile, are showing the way out of this crisis by reducing VAT, cutting energy taxes and (more contentiously) giving incentives to buy a new car. All the ECB has to do is to provide large interest-free loans to governments to allow them to do as Germany. The trickle-up economy will take care of the rest and there will be no need for a constitutional crisis between EU and Germany.

    #59583

    zerosum
    Participant

    The social/economic structures are changing everywhere
    ——
    There has been growing debate among experts globally on whether populous developing nations can afford comprehensive social distancing measures to contain the coronavirus while avoiding economic ruin.
    ———–
    With states hit hard by falling income and sales taxes, aid to school districts is dwindling in many places. [..] April was an especially cruel month for education. The Labor Department report said that in addition to the 469,000 K-12 personnel, state-run colleges and universities laid off 176,000 professors and other employees. Private schools, including well-known colleges and universities and K-12 private schools, were down by 457,000.
    ——
    Evidence is growing, Johnson said, that there was not a “peaceful and cooperative” transition between the Obama and Trump administrations in 2017.
    —–
    Can you imagine ⁦@JoeBiden⁩ being @POTUS? He can’t answer a simple question or make a simple statement even with the help of the idiots at ⁦@TheView⁩!Did u catch some of their faces.They can’t believe it either #JoesNotSorry #WalkAway
    ——
    Hugh Smith says, “the solution is fragmentation and decentralization so the unit size is reduced to the point where accountability and transparency can be enforced by the citizenry and/or members.”
    ——–
    the loss of the middle class and all services would lead to collapse and violence.

    —–

    #59584

    zerosum
    Participant

    Dreams of riches

    Nearly 80 percent of American workers (78 percent) say they’re living paycheck to paycheck, according to a 2017 report by employment website CareerBuilder.
    —-
    When the stock market goes up, 75% of the Americans don’t participate in any meaningful way.

    #59585

    On Taleb’s last point: Evasively stated. Humans are psychological beings. I’m pretty sure policy (decision)-makers ask “how will people react?” because they risk non-compliance if they ignore it.
    The surveillance state that the medical experts want to roll out because of The Virus is already being resisted. They could have tried it right off the bat, but they would have risked extreme non-compliance: they had to whip up extreme fear first. Making policy without caring about the psychological ramifications is a hallmark of totalitarianism.
    Medical Martial Law: “I’m cold. All of you, put a sweater on!”
    Off to off-g to check out the rest of the article.

    #59586

    MPSK (and others?!)

    I don’t get what the “extreme fear” you talk about is. Whipped up by “medical experts”? If people are asked to stay home for a bit, that makes them “extremely” afraid? I would personally reserve that term for the mothers and children the US has bombed in the Middle East for decades, not people asked to socialize less. The word “extreme” appears to be a bad fit.

    Or maybe the black people being maimed and killed by US police today like they have been for too many years to count. That has an “extreme” ring about it. And it has for so many years that all those folks trying to blame that on Trump must be colorblind and have lousy educations and even short term memory issues. Trump’s simply the same kind of ass that his predecessors have been through these situations, and that very much includes Obama.

    Anyway, I don’t see the use of the term “extreme”.

    #59587

    Mr. House
    Participant

    @ Raul

    When people where masks while walking around outside, when people scream at other people about social distancing, when people won’t walk on the same sidewalk as you….. What would you call that?

    #59588

    zerosum
    Participant

    Looking good
    Market are up.
    Trillions of dollars fixed the balance sheets of the connected enablers and elites.
    Pensions administrators breathe a sigh of relief and can relax at their secluded gated summer cottages.
    Lawn caretaker will get paid for cutting the grass.

    #59589

    RIM: When people are so afraid of sickness and death that they give up what makes life worth living- and now seem willing to embrace a surveillance state- I call that extreme. I did.
    What you cite I call unbearable, terrifying- which is also extreme.
    We are living in a monstrous social experiment. This will show up in those who are children now when they become adults. Some of those effects may be a fear of Others, and an inability to see their humanity, which may lead to the terrors you cite.

    #59590

    Doc Robinson
    Participant

    Misleading headline today at STAT news:
    Study: Hydroxychloroquine had no benefit for hospitalized Covid-19 patients, possibly closing door to use of drug

    Beyond the headline, the study’s conclusion refers only to critically ill patients already in the hospital.

    “Robert Califf, the former Food and Drug Administration commissioner and Alphabet employee, tweeted that the study “essentially rules out benefit of [hydroxychloroquine] in critically ill hospitalized patients.” He wrote that the results showed “no benefit; no major risk.

    Looking at Robert Califf’s tweet, he also mentioned “no significant toxicity.”

    Big news from a properly designed, adequately sized and carefully monitored RCT. Essentially rules out benefit of HCQ in critically ill hospitalized patients. Also looks like no significant toxicity.

    https://www.statnews.com/2020/06/05/hydroxychloroquine-had-no-benefit-for-hospitalized-covid-19-patients-possibly-closing-door-to-use-of-drug/

    #59591

    On a different note- I was watching Dr. Michael Saag of U of Alabama on cspan this morning. He made it clear that HCQ was experimental and clearly did not endorse it yet…
    Until a woman called and asked if he had used it when he was sick with the virus in March (as he had mentioned).
    He did.
    Facade and reality.

    #59592

    zerosum
    Participant

    ” in critically ill hospitalized patients.” He wrote that the results showed “no benefit; no major risk.”
    Therefore, the conclusion, is that they are on their way to a better place and therefore, make their trip a good trip.

    #59593

    zerosum
    Participant

    Great news
    More people flying
    Less people unemployed
    The glass is 10% more full.

    #59595

    Bill7
    Participant

    > RIM: When people are so afraid of sickness and death that they give up what makes life worth living- and now seem willing to embrace a surveillance state- I call that extreme. I did.
    What you cite I call unbearable, terrifying- which is also extreme.

    MPSK: thank you for this comment, and you are not the only one who feels that way.

    -Bill7

    #59596

    zerosum
    Participant

    I call this extreme
    https://www.usatoday.com/story/travel/hotels/2020/06/05/cuba-travel-trump-administration-orders-marriott-shutter-havana-hotel/3156557001/


    Trump administration orders Marriott to shutter Cuba hotel by end of August
    David Oliver, Deirdre Shesgreen USA TODAY
    The U.S. Department of Treasury ordered Marriott to shut down its Four Points Sheraton hotel in Havana, Cuba, by Aug. 31, amid continuing tensions between the two nations. The company will also not be allowed to open other planned hotels.

    Marriott first entered Cuba in 2016 following permission from the U.S. government, and its license was both reviewed and renewed in 2018.

    “We have recently received notice that the government-issued license will not be renewed, forcing Marriott to cease operations in Cuba,” according to a statement from the company provided by spokesperson Brendan McManus. “Marriott continues to believe that Cuba is a destination that travelers, including Americans, want to visit. Marriott looks forward to reopening in Cuba if and when the U.S. government gives us permission to do business there again.”

    The Trump administration has dramatically restricted travel and business ties with Cuba, reversing the Obama administration’s efforts to thaw diplomatic relations between Washington and Havana. In 2017, Trump banned U.S. citizens from doing business with entities deemed to have links to Cuban military or security agencies. That list included stores, hotels and even rum makers frequented by Americans.

    Confusion swirled after the Trump administration ended the most popular forms of U.S. travel to Cuba last year, banning cruise ships and a heavily used category of educational travel in an attempt to cut off cash to the island’s communist government. The Treasury Department has a detailed FAQ page online to help break down what travelers need to know about the ban.

    The Trump administration also banned U.S. flights to all Cuban cities last year, except Havana, rolling back the Obama-era easing of relations.

    Travelers can still visit Cuba, albeit subject to specific conditions, including:

    Family visits
    Official government business
    Journalistic activity
    Professional research and meetings
    Educational activities (like those from U.S. academic institutions and secondary schools)
    Religious activities
    Support for the Cuban people
    “The important thing to know about these changes is that there is still a way to travel legally to Cuba and that is under ‘support for the Cuban people,’” Sarah Arizaga, manager the of Cuban Adventures tour agency U.S. office, told USA TODAY last year. The company’s tours were already compliant with the condition about support for the Cuban people since President Donald Trump’s 2017 changes to Cuba travel, when the administration eliminated individual people-to-people travel.

    The “people-to-people” rule was created under the Obama administration and let visitors travel to Cuba with a visa. This was in addition to letting cruise ships and airlines journey there.

    In 2014, then-President Barack Obama took the historic move of ending 50 years of diplomatic isolation with its Cold War foe. His administration re-established embassies in Havana and Washington and made it easier for Americans to visit the island, among other steps.

    But Trump has made good on campaign promises to roll back that policy, and Friday’s step was additional evidence of that. The move may be particularly popular with Florida’s Cuban and Venezuelan populations, which account for more than 1.5 million of the state’s 21 million residents.

    Florida will be pivotal in determining the outcome of the 2020 presidential election. No Republican presidential candidate has won the White House in nearly a century without carrying Florida – a state also known for its razor-thin election margins.

    “The Trump administration viewed the operation by Marriott similar to how it viewed cruise ship operations – an example of Obama administration policy failure to change Cuba, rather than provide Cuba with additional revenues, which are used to forestall necessary commercial and economic changes vital to the country,” said John S. Kavulich, president of the U.S.-Cuba Trade and Economic Council, which is based in New York.

    #59597

    thomasjkenney
    Participant

    I saw a medium-sized bear in the forest last evening, 40m away from me, climbing over a fallen oak tree blocking the road. He seemed healthy and happy, oblivious to my presence until I had the bad manners to alert him to my presence.

    While we focus on protest, loot, vote, organize, shame, hide, whatever… a beautiful world still moves on about us.

    And the wildflowers I saw yesterday were amazing!

    #59598

    Bill7
    Participant

    Replying to thomasjkenney (in case this does not appear in the right place):

    I fully agree with you; getting out into nature is the absolute best antidote to those who are trying to frighten the hell
    out of us virtually 24/7, these days.. lucking where I live there are lot of very happy birds and other wildlife..
    I envy, and try to emulate them.

    -Bill7

    #59599

    WES
    Participant

    Zerosum:

    You say the glass is only @0% full.

    From an engineering point of view o, I say the glass is nine times bigger than it needs to be!

    #59600

    WES
    Participant

    ThomasjKenney:

    The black bear was happy because Wall Street banished him from NYC!

    #59601

    WES
    Participant

    With all the people protesting today, thereshouldbe a nice spike in Covid-19 cases by next Friday.

    I wonder how many more people will die because of the protests.

    Obviously the protest organizers are not concerned about causing more deaths

    #59602

    zerosum
    Participant

    According to the reporter, there was 10,000 25 yr old at the Vancouver demonstration.
    I hope they stay away from their grand parents.

    #59603

    Nature:
    The old die so the young may grow old.
    Amen.

    #59644

    Dr. D
    Participant

    Ah, relying on government. They should know all about changing the rules every 2 months, or having no rules at all, from their tax and accounting departments. Ending small business and helping monopolies since 1913. Why is there such income disparity? Just can’t figure it out. And every time we add more rules and more government, more handouts and more bailouts, it gets worse! Well, it’s a mystery we may never know.

    The problem with Cuba is, they’re lying. Now they’re always lying with every waking breath, and the government lying 100% of the time is only half as bad as the reporters, who invent new material out of their demented, overheated noggins and lie 200% of the time. But whatever has been going on in Cuba for 50 years is not the official story, and the reasons and explanations they give have been diverging even more in the last decade.

    But you can’t run a democracy where truth is the enemy and all the information is classified, because then no one knows what’s happening and no one can make decisions. …Which is of course how they want it, so the Dulles CIA can force you to pick pre-planned conclusions from their violent menu. Declassify everything back to 1913 and we’ll find out a whole lot about what’s been going on here. Actually, it’s illegal not to, but since nobody follows the law and government least of all, and anyone who tries ends tied up, in Belmarsh, or dead, just as Schumer promised in 2016, I wouldn’t be in a hurry. It needs to devolve so the states and locals can pick them off, as is happening now. Their shrinking to near-nothing, the Army and Post Office is also the law, but somehow people are all alarmed about it.

    Point being: we have no idea what’s going on in Cuba — or Iran — so it’s impossible to tell if it’s good or bad. I can therefore tell you that WE are bad. In some capacity. Clean your own room. This is being fought tooth and nail in the Senate, so we coincidentally has a bunch of clogged news cycles. Whooda knowd?

    We have reached a point where in the same press release, medical officials literally say going out for riots is safe, but going out for barbecues is dangerous, to say nothing of lockdown protests, where of course the most die of all. …Just as predicted by Orwell. Meanwhile peace marches for racial support burn down black cities, while gun demonstrations have no violence at all. Funny ol’ world. The funny parting being is, it’s so predictable it hurts.

    Did you see the official S.F. posting where groups under 12 are recommended, unless they’re riots, in which case it’s 100? The virus can tell. Actually I could care less since both are legal, and all most measures to prevent them are pointedly illegal and a human rights abuse, but it’s funny. You know, in a fatal kind of way.

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