Debt Rattle March 14 2020
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• “Flattening the Curve” Is A Deadly Delusion (Bach) • Higher Temperatures Affect Survival Of New Coronavirus (Accu) • South Korea’s Drive-Thro
[See the full post at: Debt Rattle March 14 2020]“When schools close, mothers get worried – and this stops economic activity,” industry consultant and former GM executive Warren Browne said.
Damn! I had a feeling all along it was women and children responsible for the ecological holocaust of the modern market economy. Damn them.
So glad I was finally told what’s been going on.Raul – you know we all hang out for the feed and analysis. Now lock down is happening, waiting for your post is like being one of those morons standing outside the department stores for after christmas sales.
Also thanks to all of you contributing to comments for additional info and analysis.Raul,
Your post is a highlight in these times. Wish we could get you written into some bill so you could feed at the “Primary Dealers Window” of the Fed. I’d argue your solitary contribution is far greater than any hedge fund (but that doesn’t help keep the lights on…)Just watched Tulsi’s tweet (above) and am trying to learn how to not engage or get angry at morons who are fine with $1.5T for banks, but a grand for a single mom brings forth cries of “Work, not welfare!”.
The depth of our stupidity and blindness makes me rage, and makes me cry.
Recently read that ol’ Jerry Fakewell said, We’re not gonna be like other schools! We’re gonna stay open at Liberty!” Hope he’s kept his law license current, because he’ll need it!!
Manufactured panic.
From Wendell Potter: “WORD TO THE WISE>> During this coronavirus crisis, keep an eye on every move of my old industry: health insurers. Behind the PR spin, they will be doing everything they can to deny care & maintain profits, while making it look like they’re heroes.”I couldn’t agree more. It’s a talent, some kind, to erect a board of directors and a compensation committee that rewards UW-VMC CEO $1 2 million per year and his Chief Nurse and Superintendent more than $550,000 each while driving away their most productive surgeon, neurologist and ophthalmologist who was president of the people’s elected Board of Trustees all the while maintaining the illusion they care about patients and employees approved by WA GOV.
MMT-VIRUS
This is what I conclude from what I’m reading.
Since you are reading the same thing as me, therefore, I assume that you have arrived at the same conclusion as me.
In the USA, its an illusion that big med. care about patients and employees
In the USA, if the money is not there to pay for the invoice, then there is no testing or free help.REF.
• Big Pharma Prepares To Profit From The Coronavirus (IC)
“the worse the pandemic gets, the higher their eventual profit.”
pharmaceutical makers may have even more leeway than usual because of language industry lobbyists inserted into an $8.3 billion coronavirus spending package, passed last week, to maximize their profits from the pandemic.• EU Ready To Trigger Crisis Clause Allowing Fiscal Stimulus (BBG)
Germany tried not to do MMT (print money)• South Korea’s Drive-Through Testing For Coronavirus Is Fast – And Free (NPR)
someone told lies
cough, cough You know who.
https://www.aljazeera.com/news/2020/03/china-sends-essential-coronavirus-supplies-italy-200313195241031.htmlChina sends essential coronavirus supplies to Italy
((The USA would help, but the MMT system was not set up to pay for the help)China steps in to help Italy in its time of need as wealthy businessman Jack Ma offers to donate supplies to the US.
In a separate development, Chinese businessman Jack Ma, who is the founder of the Alibaba Group and among the world’s richest people, offered to donate 500,000 coronavirus testing kits and one million masks to the United States,
Over the past weeks, Ma’s organisations have helped provide similar supplies to virus-hit countries such as Japan, South Korea, Italy, Iran and Spain.https://www.zerohedge.com/health/uks-coronavirus-strategy-just-let-it-happen-and-hope-herd-immunity
UK’s Coronavirus Strategy: Just Let It Happen And Hope For Herd Immunity
Johnson seriously suggests on TV to let #coronavirus run unhampered thru UK population.
Johnson proposes to let us “take it on the chin” & “allow the disease to move through the population”.
In other words… do nothing & accept death rates >10% for elderly.So what happens to the mortality rate when that same 10-15% of coronavirus patients who need hospitalization don’t have access to medical care, including life-saving ventilators?
Is the last question about what happens in the UK or what is going to happen in poor countries?
At the very less, the UK is positioned and able to keep reliable statisticThe Brits are convinced this will take four months or more, and they don’t want to close down things too early, lest fatigue ensues. Sounds reasonable, but it gives the virus time and space to settle in. And of course when your neighbors have a different response, and do shut down everything, you self-isolate as a country. Can’t be the purpose. Holland also refuses so far to close down schools.
VIRUS : ADVERTISING
There do seem to be some obvious casualties of the virus : Uber, Airbnb, WeWork, Transport, Autos, Etc.
It would seem to benefit online companies as people stay at home more BUT companies like Google and Facebook are sustained by advertising.
Who will be advertising?
Some companies will have nothing to sell, others will be able to sell anything they can produce. Small companies will be cash-strapped. If people can’t work, or fear they will not be able to in the future, then they will concentrate on the essentials, which don’t really need advertising.
A lot of advertising revenue could simply disappear, some of it for good.
Our economic, social and political systems are run by a majority of senior with underlying conditions.
There are two group of seniors with two motivators.1. I don’t expect to live through this killer virus. Therefore, spend, spend all the money and I won’t be around to pay it back (MMT)
2. I expect to live through this killer virus. Survival of the fittest. Therefore, I’m going to try to get as much as I can of all those billions of dollars voted by those fools believing in MMT. Life will much better without all those grasshoppers.
• Higher Temperatures Affect Survival Of New Coronavirus (Accu)
The coronavirus is currently a problem at Miami, Florida, where the daytime highs are in the 80s this week (27-28 C).
South Florida emerged as the state’s epicenter of infections caused by the novel coronavirus late Friday night after officials confirmed 25 new cases of COVID-19, including six new cases in Miami-Dade County and nine new cases in Broward, the bulk of them with no stated connection to travel history. The state listed 70 Florida residents and seven non-Florida residents who have been diagnosed with COVID-19.
https://www.miamiherald.com/news/health-care/article241187246.html
Italy has 3,497 new cases, from 2,547 yesterday. Crazy. At least the heir new deaths are down to 175 from 250 yesterday.
Have you noticed that the virus attacks the brain first?
On top of what the foolish things that our politicians are doing.
Panic buying of toilet paper.
Spending money that you don’t have
Not wear the right protective gear.
(I saw a house maid getting dressed in an asmate suit before going to into a client house to clean.
No the owner did not have the virus.)Biolabs and Pharma
Sitting in a tree
K-I-S-S-I-N-G.
First comes CoV
Then comes carnage.
Then come profits in the mega-tonnage.Sorry. It’s an assonance.
Man- I sure wish there was a sarcasm font.
Not that I’d know how to use it.Meanwhile, over at yesterday’s Kunstler, a poster named “Pucker” (March 13, 2020. 6:28pm; 8:41pm) has posted bits from John M. Barry’s
“The Great Influenza: The Story of the Deadliest Pandemic in History” (Too long to repost.)
Scary stuff, RNA viruses. No reliable vaccines. No immunity, either.Seniors in care home
Seniors and patients in hospital
Seniors with health or compromised immune systems
are getting the covid-19 and are dying at < 10%If you are a decision maker and are afraid of being held liable – close all school.
If you are a decision maker for Care home for the homeless and cannot supply the protection from covid-19 – therefore they need to be closed.
Winco in West Slope area of Portland had a line from the checkout encircling the entire store. I think we can say it’s mainstreamed.
Yeah Doc Robinson, not sure myself about the higher temperatures thingy. Australia seems to be following the same pattern of rising infections and according to that temperature map we be the hottest place on earth. So from a climate change perspective – reduction in industrial output is supposed to make me feel bad?…..
Very confusing times.Also – this is huge, but woke up this morning and thought of Dr D’s position and then Yemen came to mind and I thought 5000 people…. I know more will die but there is just so much death going on that is preventable by govt. and popular action. People the world over can mobile so fast out of self interest but can’t seem to see the ‘other’ as a brother from another mother.
Same with nature.I’m gunna get back into meditation
The Wuhan Coronavirus has turned the world upside down. Except no one has called it by its rightful name the Global Billionaire Plague. Jet setters are shedding the virus. The WaPo and no one in my trusted blogs have looked at all the red dots on John Hopkin’s COVID-19 Global Cases map and pointed out the obvious, there is one red dot in the Russian Federation. No it is not the climate. Russia has a functioning government and it closed its borders. Western government is so corrupt and incompetent, it wasted the month that the Chinese lockdown gave them. Every illness above 59, the number of cases in Russia is on the sociopath corporate executives and their bought toadies for not closing national borders, screwing up testing and case tracking, and not quarantining hot spots.
Shock Capitalists will milk the pandemic for the last remaining wealth in the West.
My solution to compensate for the deaths and illness and to rebuild the USA is not let any billionaire back into the USA from their hideouts unless they turn over 70% of their wealth to the US government and the people for the rest of the 21st century. We then could to use the resources and labor to survive the existential threat of climate change.
I wonder what Roy Poses (check out his healthcare blog from UMinn) thinks about Mike Osterholm.
“When hospitals become much more crowded, literally stretched beyond capacity, if I have a heart attack, will I be able to get care? If I have an auto accident, will I get care? How do we triage that?” said Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota. “We can’t approach this like I approach a game of checkers with my 10-year-old grandson,” he added. “We have to approach this like a chess master thinking 10 to 15 moves down the board.”
We must recall ex-President and, most importantly, 12th Dimensionalist Chess Grandmaster Barack Obama as his country and world need his chess skills more than ever. History beckons….
@ Dr D Rich
You know it …. triage will happen in the USA and the first in line will be those with the money.
They are doing it now. The homeless are sent out and those who can pay take the warm beds.As someone recently said, “There is no room for contingency planning and preparation in for-profit healthcare”.
Nancy Agee makes $1.9M running Carilion Healthcare, a not-for-profit, in little ol’ Roanoke, Virginia.
You either build guardrails (contingency, with no “investor return”), or you put a high-profit ambulance in the valley (with a high, high profit ‘copter idling on the roof for the wealthy).
It’s true about the planes and billionaires. What did Australia’s first people know about the black plague? 60 thousand years of doin’ stuff and then multi-national travel kicks in – boom small pox and all the rest. It’s been a long expansionist fuckup. But
We are the world,
We are the children,
We are the ones who make a brighter day
So let’s start giving, let’s start giving
But there’s a chance we’re taking,
We’re taking our own lives
It’s true we’ll make a brighter day
Just you and meThe US is now Australia’s no 1 infection vector. The Victorian Premier is asking why we are not cancelling flights from the US. Also the US has the lowest testing per capita in the world for countries affected by corona
https://www.abc.net.au/news/2020-03-15/three-reasons-why-america-coronavirus-testing-is-so-low/12052936Up here in Ontario, the province announced that they will not be testing anyone who doesn’t meet their criteria because they still don’t have enough test kits! I think they are still limited to about 100 a day.
Even if you have the coronavirus you will still not be tested! Just sent home to self isolate!
Ontario has clearly lost the containment battle. It is full out community spread time!
I live just north of Toronto’s airport.
Obviously the steeple have finally figured out the truth and panicked!
Walmart store shelves were empty tonight! The panic started slowly Wednesday night, picked up steam Thursday, and on Friday people were running into the store from their cars!
I joked with one of the old Walmart greeters, “So you took a nap, and when you woke up the store was empty”!
Oxymoron:.
Funny you say that!
In Canada the biggest new source of coronavirus infects are now from Canadians travelling back from the US!
Before it was China, then Iran, then Egypt, then Italy, now the US!
Of course dopey Trudope isn’t closing any air flights even though his wife got it visiting the UK!
I think Trump will need to hit him over the head with a 2 x 4 first, by threatening to close the US/Canada border, before Trudopeo wakes up!
Mexico is contemplation closing the borders.
Canada has almost closed the borders by saying,
“self-isolate for 14 days after your return.”
The border crossing near me had no wait time. Nobody going across.Zerosum:. Imagine that! Mexico closing their US border! That will really upset the Dem’s open borders policy!
It’s 5 AM and I’ve been wake a couple of hours, after a long day of work at the clinic Friday and a long day working in the sun, mowing, weeding and tending the vegetable garden and fruit trees a bit at the Yoakum place. It’s quiet at 5 AM in Yoakum.
Here is today’s GOOD NEWS:
I just got information that hydroxychloroquine 200 mg twice per day, is just as effective in treating novel coronavirus, maybe even a hair better. This is available, used long term in some forms of arthritis and autoimmune disease, but would only be used short term for this.
https://www.sciencedirect.com/science/article/pii/S0924857920300820
https://www.ncbi.nlm.nih.gov/pubmed/32150618
Chloroquine phosphate disappeared from pharmacy shelves by early March, here in the US, after 500 mg dose twice per day for 10 days was recommended for coronavirus disease.
I may check in later and add this to the 3/15/20 feed. I have reviewed the past coule of days of blog and comments, and it took a long time, but seemed worth it. I am so bandwidth-limited these days.Totally predictable, been saying this for years. Decades.
Now I didn’t know the virus, although obviously that was one, but the avalanche is always going to fall down boom the same way. This is the same emergency as a financial panic, and since we were already boom-girder for Repos since Sept 14 was already rumbling.
The system has been long and intentionally undermined for decades to be just-in-time, to have no manufacturing, to make sure each and every item must circle the globe (and require international banking houses rentiers) to be completed to market, to have no warehouses, to have NO local support, local supply, local production. This was the major illegal: water, front yard gardens, chicks, milk. Swat teams, ban hammer, nothing we hate more on all earth than living things and food. As per Agenda 21 then 2020. By law, worldwide. Maximum population in cities. Laws against medicine, herbals, then trying to overload the system and reduce the number of doctors with Obamacare. Yes, they “promoted” health care, but in fact their plans added zero doctors and nurses, drove a bunch away, while the “money” went to insurers and administrators in clear PREVENTION of health at all costs. …While adding 300k new patients. Not a fan of such medicine here in the states, know our system too well, that aside from it being totally, completely illegal at the Federal level. Do it at the State level, totally fine, Massachusetts, which instantly went bankrupt as a bad example to others.
Anyway, given the system they painstakingly built against the CONSTANT objection of EVERYONE in the U.S. since Ross Perot, this was the ONLY POSSIBLE result. I thought it would be banking alone, but should have known, like ‘99, if the banks went down, there would be an event, planned or not, to divert blame by ‘01. The results MUST BE, lack of hospitals, lack of supplies, lack of preparedness, lack of resiliency. That’s just a normal day in a system of unemployment and debt. But also lack of work. Lack of responsibility, lack of morality, lack of community. Also tirelessly undermined and openly attacked with the most fury the system can muster, Swat teams, whatever, against any hippie or Amish that rears their unwashed head. It’s the monoculture future of THX1138 and Logan’s Run or bust.
So you do what you do, you get what you get. Surprise! If you still had 100 small-town shops, local chicken farms, church suppers, canning and wine in the basement, PTA meetings, community Boy scout rallies, Elk Clubs and bowling leagues with 1/3 debt-to-income ratio, no credit cards, you would weather this without much ado. But you didn’t. You moved into a condo, got all your food from Safeway, disowned your kids who are now in Arizona and Minnesota, with one in Korea, instead of sacrificing for each other, and now you pay the price. Not rocket surgery. No one cared.
So they were saying “don’t panic buy, just…blah blah.” Maybe a worldwide pandemic with a market crash IS the time to panic? Just maybe, THAT’S when the balloon went up? And that means ALL buying now, ALL preparing now, is “panic buying” that takes supplies from the mouth of others. The only time TO prepare that doesn’t harm your neighbors is BEFORE. Now that time is gone and everything you do hurts them to help yourself. What do you want me to say? YOU did this. En masse it could not POSSIBLY have been more obvious. Since Y2K everyone spoke of this regularly, delineating the exact parameters of the problem and solution, and did nothing. So now instead of settling back at home, with mom who doesn’t work, eating off last year’s Ball jars and 50# of sugar, you’re fighting in WalMart over more supplies that aren’t coming. Just like people have been telling you most of your life.
Didn’t take a pandemic to make that happen. It’s nothing unusual. Just a stop to the checkbook, a cutoff of massive, wasteful, profiteering international trade that was killing your home town and unemploying everyone anyway.
I could have told you this decades ago, and did. Nobody cared. When did the “Peak Prosperity” “Crash Course” come out describing how this was inevitable? 2002? The problem isn’t the virus. It’s you.
Why do I say that? To get up your nose? No, if that’s the problem, what’s the solution?
I am so bandwidth-limited these days.
…and likely to worsen with the poor handling of the CV-19 pandemic by TPTB.
Take care of yourself; nothing gained by self sacrifice through overwork…
Mostly we’re at the mercy of gross, exhaustive, incompetence…“CNN contributor, Democrat Andrew Gillum unable to speak at hotel party. Also found: meth and alleged male hooker”
Serious voice: “THIS is CNN”!!
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