May 252020
 


Unknown Mark Twain (center, white suit) and a kitten (brown fur, left of center) at Tuxedo Park 1907

 

More Patients Than Beds In Mumbai As India Faces Surge In Virus Cases (R.)
How Russia’s Coronavirus Crisis Got So Bad (Pol.eu)
Coronavirus Forces 100,000 NY Small Businesses To Close Permanently (Patch)
Big Pharma Rejected EU Plan To Fast-Track Vaccines In 2017 (G.)
Why Isn’t the Dollar Collapsing Given Trillions in Printing? (Mish)
Japan Eyes Stimulus Plan Worth Over $929 Billion To Battle Pandemic (TRT)
China Unveils $500 Billion Fiscal Stimulus, Refrains From Going All-in (SCMP)
China Racing To Impose New Law Criminalizing Hong Kong Protests (G&M)
China’s New National Security Law Should Be On G7 Agenda – Patten (R.)
Boris Johnson Bets Big On Dominic Cummings (Pol.eu)
Biden Should Be Named in Criminal Probe in Ukraine, Judge Rules (Lauria)
Tuxedo Park (Guinn)

 

 

Global new cases in past 24 hours: 101,325

New cases in:

• US + 21,475
• Russia + 8,946
• Brazil + 17,815
• India + 8,488
• Peru + 4,205

 

• US #coronavirus death toll rises by 638: Johns Hopkins

• https://covid19info.live/ says 2,008 new deaths in past 24 hours. It also says 52,987(!) new cases. That’s not true

But many places still seem to report quite differently over weekends

 

 

 

 

 

 

 

Cases 5,520,745 (+ 93,190 from yesterday’s 5,427,555)

Deaths 347,022 (+ 2,605 from yesterday’s 344,417)

 

 

 

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

 

 

From Worldometer

 

 

From SCMP:

 

 

From COVID19Info.live:

 

 

 

 

India scares me, despite their HCQ campaign. If you look at the slums in Mumbai or Delhi, how can you ever know what goes on? And India follows the global thread of relaxing lockdowns. While their numbers started rising under the lockdown.

More Patients Than Beds In Mumbai As India Faces Surge In Virus Cases (R.)

India on Sunday reported 6,767 new coronavirus infections, the country’s biggest one-day increase. Government data shows the number of coronavirus cases in the world’s second-most populous country are doubling every 13 days or so, even as the government begins easing lockdown restrictions. India has reported more than 131,000 infections, including 3,867 deaths. “The increasing trend has not gone down,” said Bhramar Mukherjee, a professor of biostatistics and epidemiology at the University of Michigan, referring to India’s cases. “We’ve not seen a flattening of the curve.” Mukherjee’s team estimates that between 630,000 and 2.1 million people in India – out of a population of 1.3 billion – will become infected by early July.

More than a fifth of the country’s coronavirus cases are in Mumbai, India’s financial hub and its most populous city, where the Parikhs struggled to find hospital beds for their infected family members. India’s health ministry [..] has said in media briefings that not all patients need hospitalization and it is making rapid efforts to increase the number of hospital beds and procure health gear. The federal government’s data from last year showed there were about 714,000 hospital beds in India, up from about 540,000 in 2009. However, given India’s rising population, the number of beds per 1,000 people has grown only slightly in that time.

India has 0.5 beds per 1,000 people, according to the latest data from the OECD, up from 0.4 beds in 2009, but among lowest of countries surveyed by the OECD. In contrast, China has 4.3 hospital beds per 1,000 people and the United States has 2.8, according to the latest OECD figures. While millions of India’s poor rely on the public health system, especially in rural areas, private facilities account for 55% of hospital admissions, according to government data. The private health sector has been growing over the past two decades, especially in India’s big cities, where an expanding class of affluent Indians can afford private care.

Read more …

Did Putin get lost in the message?

How Russia’s Coronavirus Crisis Got So Bad (Pol.eu)

Now, instead of consolidating public support, Putin appears to be losing it. In early May, the Levada Center, Russia’s sole independent polling agency, found that Putin’s approval rating was down to 59 percent. That might sound enviable to Western politicians, but it’s the lowest rating he has had in 20 years. Thirty-three percent of those polled said they did not approve of his performance. Putin’s hold on power doesn’t look as strong as it did a few months ago. His hands-off response to coronavirus might have something to do with it. On a morning talk show in early March, I watched the deputy director of the research institute under Russia’s consumer watchdog agency say the situation in the country was “terrific — we’ve been living for almost three months along a huge border with China and have only five cases, so all the measures we’re taking are clearly effective.”

On other talk shows, where conspiracy theories reign, hosts and guests floated the notion that the virus didn’t exist. It was a hoax invented by the United States to destroy the Chinese economy, or it was made in an American laboratory and planted in China, or Bill Gates invented it so he could then make money on the vaccine. It was just a version of SARS, which in the end turned out to be less dangerous than everyone feared. Besides, 60,000 people die every year from the flu, and no one cares. What’s the big deal? So many people seemed to believe this, or wanted to believe this, that they ignored the increasingly stringent lockdown measures instituted in Moscow beginning March 25.

They didn’t practice social distancing, traveled all over the city, used services that were supposed to be closed, got together with friends, sniffed, sneezed, coughed and even spit in public. In stores, unmasked and barehanded, they squeezed every tomato in a bin before moving on to examine broccoli, then pushed and hovered at the cash register despite social distancing marks on the floor. On television and social media, we all watched Italians singing on balconies and saw Parisians printing out forms every time they left their apartments. COVID was clearly bad outside Russia. But inside Russia? It was hard to figure out.

Read more …

Stop focusing on businesses, start focusing on people. Millions of businesses will close in the US alone, it’s no use trying to save them if you haven’t taken care of the people, their customers, first.

Coronavirus Forces 100,000 NY Small Businesses To Close Permanently (Patch)

The coronavirus crisis has forced more than 100,000 small businesses in New York to close permanently, the governor said Friday. The huge swath of closures means main streets will look at lot different when the state is allowed to reopen. At most risk have been businesses that are owned by minorities, Gov. Andrew Cuomo said. “Small businesses are taking a real beating,” he said. “They are 90 percent of New York’s businesses and they’re facing the toughest challengers. “The economic projections, vis-a-vis small business, are actually frightening. More than 100,000 have shut permanently since the pandemic hit. Many small businesses just don’t have the staying power to continue to pay all the fixed costs, the lease, etcetera, when they have no income whatsoever.”


All but essential businesses have now been closed since New York’s shutdown started on March 22. Millions of former employees are now registered as unemployed. Cuomo said New York State was launching its own small business relief program, with more than $100 million that it will make available as loans. “We’re going to focus on true small businesses,” he said. “Twenty or fewer employees, less than $3 million in gross revenues.”

Read more …

So on the one hand you want a capitalist, neo-liberal system, but on the other you want companies to work for the public good. Make up your mind already.

Big Pharma Rejected EU Plan To Fast-Track Vaccines In 2017 (G.)

The world’s largest pharmaceutical companies rejected an EU proposal three years ago to work on fast-tracking vaccines for pathogens like coronavirus to allow them to be developed before an outbreak, the Guardian can reveal. The plan to speed up the development and approval of vaccines was put forward by European commission representatives sitting on the Innovative Medicines Initiative (IMI) – a public-private partnership whose function is to back cutting-edge research in Europe – but it was rejected by industry partners on the body. The commission’s argument had been that the research could “facilitate the development and regulatory approval of vaccines against priority pathogens, to the extent possible before an actual outbreak occurs”.

The pharmaceutical companies on the IMI, however, did not take up the idea. The revelation is contained in a report published by the Corporate Observatory Europe (COE), a Brussels-based research centre, examining decisions made by the IMI, which has a budget of €5bn, made up of EU funding and in-kind contributions from private and other bodies. The IMI’s governing board is made up of commission officials and representatives of the European Federation of Pharmaceutical Industries (EFPIA), whose members include some of the biggest names in the sector, among them GlaxoSmithKline, Novartis, Pfizer, Lilly and Johnson & Johnson.

A global lack of preparedness for the coronavirus pandemic has already led to accusations in recent weeks that the pharmaceutical industry has failed to prioritise treatments for infectious diseases because they are less profitable than chronic medical conditions. [..] The COE report says that rather than “compensating for market failures” by speeding up the development of innovative medicines, as per its remit, the IMI has been “more about business-as-usual market priorities”. The report’s authors cite a comment posted on the IMI’s website, since removed, selling the advantages of the initiative to big pharma as offering “tremendous cost savings, as the IMI projects replicate work that individual companies would have had to do anyway”.

The European commission’s “biopreparedness” funding proposal in 2017 would have involved refining computer simulations, known as in silico modelling, and improved analysis of animal testing models to give regulators greater confidence in approving vaccines. Minutes of a meeting of the IMI’s governing board from December 2018 reveal that the proposal was not accepted. The IMI also decided against funding projects with the Coalition for Epidemic Preparedness Innovations, a foundation seeking to tackle so-called blueprint priority diseases such as Mers and Sars, both of them coronaviruses.

Read more …

“Stop being so US-centric.”

Why Isn’t the Dollar Collapsing Given Trillions in Printing? (Mish)

I remain amused by all the calls of hyperinflation and high inflation given the Fed has turned on the printing presses. However, currencies cannot be viewed in isolation. To those expecting a total US dollar collapse, here’s my word of advice. Stop being so US-centric. Please note Japan authorizes another $929 Billion to Battle Pandemic. Japan is considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic, the Nikkei newspaper said on Monday. | The package, to be funded by a second extra budget for the current fiscal year beginning in April, would follow a record $1.1 trillion spending plan deployed last month to cushion the economic blow from the pandemic. That is a total of 2 trillion dollars for Japan. Adjusted for the relative size of the economies, that is an amazing amount.

Also note that China unveils US$500 billion fiscal stimulus, but refrains from going all-in. Key Points • China will increase its budget fiscal deficit to a record 3.6 per cent of gross domestic product this year, up from 2.8 per cent in 2019 • This is the first time the ratio has exceeded 3 per cent – a red line for decades. • Beijing will also issue special treasury bonds for the first time since 2007 and increase the local government bond quota as it fights the pandemic Supposedly that is not “All In.” And given what is going on elsewhere it isn’t. But the Yuan is not a component of the US dollar index. And it is important that China is crossing red lines.


On May 10, I noted a Major Court Fight Between Germany and EU Looms Briefly, the German constitutional court ruled that the ECB abused its powers ruling on the ECB asset purchases as implausible, and objectively arbitrary. What Germany fears now and has from the outset is “debt mutualization” in which Germany would bailout Greece, Spain, Portugal, and Italy. And despite the German court ruling, Pablo Iglesias, Spain’s Deputy PM. says a “certain [level of] debt mutualisation is a [necessary] condition of the [continued] existence of the EU”. The EU once again faces a breakup crisis. With negative interest rates in the Eurozone and a breakup risk high and rising, it’s no wonder the Euro is not strengthening.

Read more …

Kuroda’s still fighting deflation.

Japan Eyes Stimulus Plan Worth Over $929 Billion To Battle Pandemic (TRT)

Japan is considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic, the Nikkei newspaper said on Monday. The package, to be funded by a second extra budget for the current fiscal year beginning in April, would follow a record $1.1 trillion spending plan deployed last month to cushion the economic blow from the pandemic. The second extra budget, worth $929.45 billion (100 trillion yen), will include 60 trillion yen for expanding loan programmes that state-affiliated and private financial institutions offer to firms hit by virus, the paper said.


Another 27 trillion yen will be set aside for other financial aid programmes, including 15 trillion yen for a new programme to inject capital into ailing firms, it said. The government is expected to approve the budget, which will also include subsidies to help companies pay rent and wages as they close businesses, at a cabinet meeting on Wednesday.

Read more …

Time for an update on the shadow banks.

China Unveils $500 Billion Fiscal Stimulus, Refrains From Going All-in (SCMP)

The Chinese government has unveiled a fiscal stimulus package of nearly 3.6 trillion yuan (US$506 billion), as Beijing tries to offset the economic shock caused by the coronavirus pandemic and prepare for an “unpredictable” path ahead. Premier Li Keqiang announced details of the plan in his work report at the National People’s Congress on Friday, including an increase of the budget fiscal deficit to a record high of 3.6 per cent of GDP, up from 2.8 per cent last year. It is the first time the ratio has exceeded 3 per cent – a red line for decades – and will add an extra 1 trillion yuan to the budget to bolster the economy after it was lashed by the pandemic.

Beijing will also issue 1 trillion yuan of special treasury bonds for the first time since 2007, though these will not be included in the central government budget and therefore the deficit ratio. The local government special bond quota, another source of infrastructure funding, has been boosted by 1.6 trillion yuan to 3.75 trillion yuan for 2020. While the sum total of new spending and tax cuts is large, it fell short of expectations, reflecting Beijing’s concerns about overspending and worries about debt, analysts said. “The incremental amount [of fiscal stimulus] is small,” said Larry Hu, chief China economist of Macquarie Capital. “Traditionally, China’s stimulus is not released at one go, but step by step … A bigger stimulus will only be seen when numbers are bad enough.”

The aggregate size of China’s total budget fiscal deficit, which includes the government budget deficit and off-budget debts, was about 8.3 per cent of GDP, above last year’s figure of 5.6 per cent, said Hu, adding market expectations were for a “more proactive fiscal policy”.

Read more …

Excellent from the Globe and Mail.

China Racing To Impose New Law Criminalizing Hong Kong Protests (G&M)

Police in Hong Kong cracked down on protesters Sunday, arresting at least 180, in the wake of Beijing’s pledge to move quickly on a new law that will extend China’s concept of justice to those who challenge Communist Party leadership in the territory. They were the first protests since Chinese authorities announced their plans to impose the new law, which will criminalize conduct according to Beijing’s definitions of what constitutes separatism, terrorism, subversion and illegal foreign meddling. The draft decision on establishing and improving the legal system and enforcement mechanisms for Hong Kong on national security also gives mainland China the right to place its own enforcers on Hong Kong soil.

The law is expected to be finalized this week by the National People’s Congress, China’s rubber-stamp parliament, and enacted soon after. It “has become a pressing priority. We must get it done without the slightest delay,” China’s foreign minister Wang Yi said. For nearly a year, the Asian financial centre has been a city of both peaceful demonstration and violent protest. With the law looming on the horizon, protests erupted as the city streets were drenched in tear gas and blocked by makeshift barricades.

On Sunday, police descended swiftly on protesters with a show of force that bloodied the streets. At least four officers were injured in clashes, according to a spokesperson for the Hong Kong government, who issued a lengthy statement late Sunday calling the protesters’ conduct an “outrageous” and ”serious threat to public safety.” Those who waved “Hong Kong Independence” flags on Sunday undermined “the overall and long-term interests of Hong Kong society,” the spokesperson said, adding: “rioters remain rampant, reinforcing the need and urgency of the legislation on national security.” But in a city where most people self-identify as “Hongkonger” rather than Chinese, the space to oppose the move is already diminishing.

Local police have refused to authorize peaceful protest, making street assemblies illegal. Epidemic health rules bar gatherings of more than eight people. And Beijing’s enthusiastic backing has further empowered Hong Kong’s police, already accused by human-rights groups of brutality in their handling of violent protests, to clear the streets. ”Protesters now face graver potential danger and legal consequences,” said Bonnie Leung, a pro-democracy campaigner in the city. “Given the severity and urgency of the national-security law, people will certainly want to return to the street,” said Avery Ng, a pro-democracy activist who is among a group of 15 recently arrested people that Chinese state media call “riot leaders.” But, he said, “I worry that many people cannot return to the street to protest without risking their personal safety.”

Read more …

Chris Patten negotiated the 1997 transition. Is Europe going to join the US on China?

China’s New National Security Law Should Be On G7 Agenda – Patten (R.)

The United Kingdom should ensure that China’s efforts to impose a new national security law on Hong Kong are on the agenda for the G7 meeting in June, Chris Patten, the last British governor of Hong Kong wrote in the Financial Times newspaper on Sunday. The last governor of the former British colony said that Britain and its G7 allies should take a stance against Chinese President Xi Jinping’s ‘regime’, which he labeled as “an enemy of open societies”.


“While the rest of the world is preoccupied with fighting COVID-19, he (Xi) has in effect ripped up the Joint Declaration, a treaty lodged at the UN to guarantee Hong Kong’s way of life till 2047”, Patten wrote in the newspaper. China has proposed imposing national security laws on Hong Kong as Communist Party rulers in Beijing on Friday unveiled details of the legislation that critics see as a turning point for the former British colony, which enjoys many freedoms, including an independent legal system and right to protest, not allowed on the mainland.

Read more …

The attack goes full frontal, from Guardian to Daily Mail.

Boris Johnson Bets Big On Dominic Cummings (Pol.eu)

Boris Johnson is standing by his man — but it’s a political gamble that might yet cost him. After lengthy face-to-face discussions with Dominic Cummings on Sunday afternoon, the British prime minister told the country he was confident that his chief adviser “acted responsibly and legally, and with integrity” despite alleged breaches of the U.K.’s coronavirus lockdown rules. The revelation that Cummings traveled 260 miles from London to Durham to stay at a property close to family, after his wife developed coronavirus symptoms in late March, has led to calls for his resignation from opposition parties and a handful of Conservative MPs.

But Johnson, speaking at the government’s daily coronavirus press conference on Sunday evening, stood four-square behind Cummings — the strategic guru who masterminded the Brexit campaign and Johnson’s path to a thumping election victory. The prime minister said he fully accepted the adviser’s explanation that he had “no alternative” but to travel to guarantee childcare for his four-year-old son should he and his wife become too ill. “I think he followed the instincts of every father and every parent,” Johnson said. The U.K.’s guidance is that those who develop symptoms, as Cummings’ wife did, “must stay at home for at least seven days.” Other members of the household must stay put for 14 days.

But Johnson said the advice was also “absolutely clear that if you have childcare issues, that is a factor that has to be taken into account.” The official guidance advises parents who develop symptoms to “keep following” general advice “the best of your ability,” but acknowledges “not all these measures will be possible.” In short, discretion is limited.

Read more …

The left wing joins in with the right. Not sure that bodes well for Joe.

Biden Should Be Named in Criminal Probe in Ukraine, Judge Rules (Lauria)

Last month District Court Judge S. V. Vovk in Kiev ruled that police must list Biden as an alleged perpetrator of a crime against Shokin, according to a report on the website Just the News. The possible crime cited is “unlawful interference in Shokin’s work as Ukraine’s chief prosecutor,” the website said, according to an English translation of the investigative judge’s order obtained by the site. The district court had earlier ruled that there was sufficient evidence in Shokin’s criminal complaint to investigate Biden, but the police had withheld Biden’s name, listing him only as an unnamed American.

Shokin first alleged last year in a deposition that Biden had pressured then Ukrainian President Petro Poroshenko to fire Shokin because he was conducting an investigation into Burisma Holdings, the gas company on whose board Biden’s son Hunter was installed shortly after the fall of President Viktor Yanukovych in February 2014. Biden had been appointed the Obama administration’s point man on Ukraine, according to a recorded conversation between then Assistant Secretary of State Victoria Nuland and then U.S. ambassador to Ukraine, Geoffry Pyatt. Nuland and Pyatt discussed how to “midwife” a new Ukrainian government before the democratically-elected Yanukovych was overthrown. Nuland said Biden would help “glue” it all together.

As booty from the U.S.-backed coup, the sitting vice president’s son, Hunter, within weeks got his seat on Burisma, in what can be seen as a transparently neocolonial maneuver to take over a country and install one’s own people. But Biden’s son wasn’t the only one. A family friend of then Secretary of State John Kerry also joined Burisma’s board. U.S. agricultural giant Monsanto got a Ukrainian contract soon after the overthrow. And the first, post-coup Ukrainian finance minister was an American citizen, a former State Department official, who was given Ukrainian citizenship the day before she took up the post. Shokin has alleged, in the same vein, that the U.S. was running the country’s prosecutors’ office.

Read more …

Long and great, reading under lockdown.

Tuxedo Park (Guinn)

In a Gilded Age, abstractions are the things we are told represent prosperity. Back then, well, Americans were told that a lot of things represented prosperity. In Twain’s kind of bad story, prosperity was the ability to speculate on land, the freedom to take your shot on building the same kind of fortune as Vanderbilt and Carnegie. Prosperity was walking into the marble and gold edifice of J.P. Morgan’s bank and thinking, in awe, that we Americans could do something like this. Prosperity was the lives that social elites were capable of living, and if you weren’t, then, well, it looks like you might need to brush up on your Social Darwinism to figure out why not.

The excesses empowered by centers of political and social power were not just excesses. They were attempts to apply a layer of gilding to the baser materials underneath – the still vast and unresolved social and economic problems faced by an emerging United States with devastating inequality of both opportunity and circumstance. If it looked and felt like a Golden Age, wasn’t that all that really mattered? Perhaps this all sounds familiar. Perhaps this sounds like the Long Now. That’s because it is.

The Long Now IS a New Gilded Age, a top-down imposition of the idea that it is more important for a people to look and feel prosperous than to prosper. Only instead of land speculation and the pretenses of an aristocratic minority, our gilding largely boils down to the current level of the S&P 500 Index. If we wish to understand the arc that these top-down political narratives follow, especially how they die and how they do not die, we will find no better example than in the least golden yet most gilded retreat of late 19th and early 20th century oligarchs. A place that even Twain himself ended up calling home late in life.

Tuxedo Park.

Read more …

We try to run the Automatic Earth on people’s kind donations. Since their revenue has collapsed, ads no longer pay for all you read, and your support is now an integral part of the interaction.

Thank you.

 

 

 

 

 

 

 

 

 

 

Support the Automatic Earth in virustime.

 

Apr 192020
 


Unknown A couple wearing smog masks, London 1953

 

Did COVID19 Outbreak Start Months Earlier And Not In Wuhan? (RT)
New Wave Of Infections Threatens To Collapse Japan Hospitals (AP)
Florida Prison System Begins To Reveal Ravages Of Coronavirus (MH)
UK Care Home Deaths ‘Far Higher’ Than Official Figures (BBC)
Anger In Sweden As Elderly Pay Price For Coronavirus Strategy (O.)
A Scam To Enrich Execs: COVID19 Bailouts Fuel More Share Buybacks (Feierstein)
The Trickle-Up Bailout (Matt Taibbi)
Russia Reports Record Daily Rise In Coronavirus Cases (R.)
Spain To Allow Children Outside After Six Weeks (BBC)
CDC Reviewing ‘Stunning’ Testing Results From Boston Homeless Shelter (B25)
38 Days When Britain Sleepwalked Into Disaster (Times)
UK Medical Staff Face Weeks Without Protective Gowns (O.)
Lockdown Puts Increasing Strain On Britain’s Food System (Ind.)
Pandemics Have Reshaped The World In Unpredictable Ways Throughout History (ProsM)

 

 

“The curve is flattening; we can end lockdown now”

=

“This parachute has slowed my rate of descent; I can take it off now”

 

 

 

 

 

Cases 2,345,476 (+ 84,051 from yesterday’s 2,261,425)

Deaths 161,196 (+ 6,462 from yesterday’s 147,378)

 

 

 

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

 

 

From Worldometer – NOTE: among Active Cases, Serious or Critical fell to 3%

 

 

From SCMP:

 

 

From COVID19Info.live:

 

 

 

 

Just as everyone says it was the lab.

Did COVID19 Outbreak Start Months Earlier And Not In Wuhan? (RT)

The novel coronavirus may have first passed to humans somewhere in southern China months before the outbreak in the city of Wuhan, a new study found, cutting against widely held theories about the origins of the pandemic. Mapping a “network” of coronavirus genomes and tracing mutations over time, a team of researchers led by a Cambridge University geneticist determined the first Covid-19 infection may have come as early as September in a region south of Wuhan, noting the pathogen could have been carried by humans well before it mutated into a more lethal form. “The virus may have mutated into its final ‘human-efficient’ form months ago, but stayed inside a bat or other animal or even human for several months without infecting other individuals,” geneticist Peter Forster told the South China Morning Post.


Phylogenetic network of 160 SARS-CoV-2 genomes © PNAS / Peter Forster

He leads the ongoing yet to be peer-reviewed research, recently published in the Proceedings of the National Academy of Sciences journal. “Then, it started infecting and spreading among humans between September 13 and December 7, generating the network we present in [the study]”. Though the virus is thought to have transmitted from bats to another host animal – pangolins are a popular candidate – and finally to humans, the new findings could overturn prevailing ideas as to precisely how, when and where it made the interspecies leap. Initial theories posited the jump to humans took place at a wet market in Wuhan, but the new study has called that into question, suggesting Covid-19 might have originated south of the central-Chinese city.


“If I am pressed for an answer, I would say the original spread started more likely in southern China than in Wuhan.” Any solid conclusions, however, could only be made after analyzing more bats and other potential host animals, as well as tissue samples from early patients, Forster cautioned. “But it is the best assumption we can make at the moment, pending analysis of further patient samples stored in hospitals during 2019,” the researcher told Newsweek in a separate interview.

Read more …

For two whole months, Shinzo Abe had just one thing in mind: the Olympics. Everything else had to be pushed aside.

New Wave Of Infections Threatens To Collapse Japan Hospitals (AP)

Hospitals in Japan are increasingly turning away sick people as the country struggles with surging coronavirus infections and its emergency medical system collapses. In one recent case, an ambulance carrying a man with a fever and difficulty breathing was rejected by 80 hospitals and forced to search for hours for a hospital in downtown Tokyo that would treat him. Another feverish man finally reached a hospital after paramedics unsuccessfully contacted 40 clinics. The Japanese Association for Acute Medicine and the Japanese Society for Emergency Medicine say many hospital emergency rooms are refusing to treat people including those suffering strokes, heart attacks and external injuries.

Japan initially seemed to have controlled the outbreak by going after clusters of infections in specific places, usually enclosed spaces such as clubs, gyms and meeting venues. But the spread of virus outpaced this approach and most new cases are untraceable. The outbreak has highlighted underlying weaknesses in medical care in Japan, which has long been praised for its high quality insurance system and reasonable costs. Apart from a general unwillingness to embrace social distancing, experts fault government incompetence and a widespread shortage of the protective gear and equipment medical workers need to do their jobs. Japan lacks enough hospital beds, medical workers or equipment. Forcing hospitalization of anyone with the virus, even those with mild symptoms, has left hospitals overcrowded and understaffed.

[..] Medical workers are now reusing N95 masks and making their own face shields. The major city of Osaka has sought contributions of unused plastic raincoats for use as hazmat gowns. Abe has appealed to manufacturers to step up production of masks and gowns, ventilators and other supplies. A government virus task force has warned that, in a worst-case scenario where no preventive measures were taken, more than 400,000 could die due to shortages of ventilators and other intensive care equipment. Prime Minister Shinzo Abe has said the government has secured 15,000 ventilators and is getting support of Sony and Toyota Motor Corp. to produce more.

Japanese hospitals also lack ICUs, with only five per 100,000 people, compared to about 30 in Germany, 35 in the U.S. and 12 in Italy, said Osamu Nishida, head of the Japanese Society of Intensive Care Medicine. Italy’s 10% mortality rate, compared to Germany’s 1%, is partly due to the shortage of ICU facilities, Nishida said. “Japan, with ICUs not even half of Italy’s, is expected to face a fatality overshoot very quickly,” he said. Japan has been limiting testing for the coronavirus mainly because of rules requiring any patients to be hospitalized. Surging infections have prompted the Health Ministry to loosen those rules and move patients with milder symptoms to hotels to free up beds for those requiring more care.

Read more …

Wherever you put large groups of people together, this happens with a highly contagious virus.

Florida Prison System Begins To Reveal Ravages Of Coronavirus (MH)

For weeks the Florida Department of Corrections refused to address rumors that inmates with coronavirus-like symptoms — or those who had come into contact with symptomatic inmates or staff — were being segregated by the hundreds from the general population. That changed on Friday, when the agency acknowledged that more than 4,500 inmates are being isolated in one way or another as COVID-19, the highly infectious disease caused by the novel coronavirus, has spread throughout the third-largest prison system in the country. As of Friday evening, 45 inmates and 71 staff members had tested positive for COVID-19, according to the FDC. Four inmates had died, all of whom had been incarcerated at Blackwater River Correctional Facility, a compound near Pensacola run under contract by the Geo Group.


The medical examiner in Santa Rosa County revealed the deaths. The new data was made public amid a growing chorus of criticism by a handful of lawmakers, including an influential Republican, state Sen. Jeff Brandes, who is vice chairman of the Senate Criminal Justice Committee. The department found itself on the defensive this week when those four deaths were revealed not by prison administrators — including its communication staff, which has ignored questions from reporters for several weeks — but by journalists who sought out information from the Santa Rosa County medical examiner. After the first two deaths were reported by the News Service of Florida, confirmation was hastily posted on the department’s website.

Read more …

About 20 times higher.

UK Care Home Deaths ‘Far Higher’ Than Official Figures (BBC)

New data has added to growing evidence that the number of deaths linked to coronavirus in UK care homes may be far higher than those recorded so far. The National Care Forum (NCF) estimates that more than 4,000 elderly and disabled people have died across all residential and nursing homes. Its report comes amid calls for accurate data on virus-linked deaths. Only 217 such care home deaths have been officially recorded in England and Wales up to 3 April. The NCF, which represents not-for-profit care providers, said its findings highlight significant flaws in the official reporting of coronavirus-related death statistics.


It collected data from care homes looking after more than 30,000 people in the UK, representing 7.4% of those people living in one of the country’s thousands of care settings. It said that, across those specific homes, in the week between 7 April and 13 April, there had been 299 deaths linked to coronavirus. That was treble the figure for the previous week and double that in the whole of the preceding month. If that number was reflected across all residential and nursing homes, NCF estimated there have been 4,040 coronavirus-related deaths in care homes which are not yet included in official figures.

Read more …

And then the nurses start dying too.

Anger In Sweden As Elderly Pay Price For Coronavirus Strategy (O.)

It was just a few days after the ban on visits to his mother’s nursing home in the Swedish city of Uppsala, on 3 April, that Magnus Bondesson started to get worried. “They [the home] opened up for Skype calls and that’s when I saw two employees. I didn’t see any masks and they didn’t have gloves on,” says Bondesson, a start-up founder and app developer. “When I called again a few days later I questioned the person helping out, asking why they didn’t use face masks, and he said they were just following the guidelines.” That same week there were numerous reports in Sweden’s national news media about just how badly the country’s nursing homes were starting to be hit by the coronavirus, with hundreds of cases confirmed at homes in Stockholm, the worst affected region, and infections in homes across the country.

Since then pressure has mounted on the government to explain how, despite a stated aim of protecting the elderly from the risks of Covid-19, a third of fatalities have been people living in care homes. Last week, as figures released by the Public Health Agency of Sweden indicated that 1,333 people had now died of coronavirus, the country’s normally unflappable state epidemiologist Anders Tegnell admitted that the situation in care homes was worrying. “This is our big problem area,” said Tegnell, the brains behind the government’s relatively light-touch strategy, which has seen it ask, rather than order, people to avoid non-essential travel, work from home and stay indoors if they are over 70 or are feeling ill.

The same day prime minister Stefan Löfven said that the country faced a “serious situation” in its old people’s homes, announced efforts to step up protections, and ordered the country’s health inspectorate to investigate. Lena Einhorn, a virologist who has been one of the leading domestic critics of Sweden’s coronavirus policy, told the Observer that the government and the health agency were still resisting the most obvious explanations. “They have to admit that it’s a huge failure, since they have said the whole time that their main aim has been to protect the elderly,” she said. “But what is really strange is that they still do not acknowledge the likely route. They say it’s very unfortunate, that they are investigating, and that it’s a matter of the training personnel, but they will not acknowledge that presymptomatic or asymptomatic spread is a factor.”

The agency’s advice to those managing and working at nursing homes [..] is that they should not wear protective masks or use other protective equipment unless they are dealing with a resident in the home they have reason to suspect is infected. Otherwise the central protective measure in place is that staff should stay home if they detect any symptoms in themselves. “Where I’m working we don’t have face masks at all, and we are working with the most vulnerable people of all,” said one care home worker, who wanted to remain anonymous. “We don’t have hand sanitiser, just soap. That’s it. Everybody’s concerned about it. We are all worried.” “The worst thing is that it is us, the staff, who are taking the infection in to the elderly,” complained one nurse to Swedish public broadcaster SVT. “It’s unbelievable that more of them haven’t been infected.”

Read more …

No more of this.

A Scam To Enrich Execs: COVID19 Bailouts Fuel More Share Buybacks (Feierstein)

To anyone doubting the Covid-19 bailouts will line executives’ pockets, American Airlines CEO Doug Parker says he’ll “find a way around” the rules against it. This after making $150 million while AAL’s stock plummeted 70%. Stock buybacks are the ultimate vehicle of self-enrichment. Consider the following as a ‘case study’ of Wall Street’s legal fraud. Under CEO Doug Parker’s leadership from 2013-2020, American Airlines has seen its stock plummet 70%. When one looks at Parker’s pay awarded vs the company’s three-year average economic profits, his pay-for-performance metrics are abominable. The media worships Parker for his stewardship of AAL during this crisis and reports that, for the past three years, Parker’s salary and bonus were zero.

However, they fail to mention that AAL’s legal Ponzi stock-buyback scheme saw Parker’s 2016-2018 take-home pay rocket to $70.2 million. (According to the FT, Parker’s total award from selling stock since 2013 is $150 million). It’s not bad for Parker, but it’s horrendous for AAL employees, shareholders and American taxpayers who will be stuffed with a $20 billion bailout. Fair? Not on your life. Debt-fuelled stock buybacks and dividend payments are engineered to artificially increase stock prices so that self-interested CEOs like Parker can “earn” higher compensation. Increasing debt creates an illusion of better earnings. However, buybacks cannibalize corporate balance sheets, leaving taxpayers exposed to unlimited “bailouts” when these leveraged bets go wrong.

What’s the difference between rogue hedge fund managers and airline CEOs? Not much, except some airline CEOs have been given golden parachutes to the tune of nearly $17.5 million. So who is enabling these CEOs to line their pockets with taxpayer money? Last summer, the US Federal Reserve released the results of its annual Comprehensive Capital Analysis and Review (CCAR). The CCAR is a bank stress test, which all the banks passed, and after passing the stress test, the Federal Reserve approved $125 billion in share buybacks! Yet, even though the banks all passed the stress test, the Financial Times recently reported that the president and chief executive of the Federal Reserve Bank of Minneapolis (who oversaw TARP during the GFC of 2008) is recommending big US banks raise $200 billion in capital now to act as a buffer against economic shock from the “coronavirus pandemic.” This is a bit like putting on your seatbelt after your airbag has already deployed.

Read more …

“..80% of the benefit of the bill went to just 43,000 taxpayers each earning over $1 million a year. The average tax break for those 43,000 individuals was $1.6 million..”

The Trickle-Up Bailout (Matt Taibbi)

Because the CARES Act was rushed to the floor, members didn’t have all of the information they might have wanted before the vote. After the bill passed, Democratic staffers sent these tax provisions in the CARES Act, sections 2303 and 2304, to the Joint Committee on Taxation, to be scored. They were stunned to learn they would cost $195 billion over ten years. In other words, what seemed like a run-of-the-mill offhand legislative pork provision ended up dwarfing the airline bailout and other main parts of the bill. “The cost of caring for this small slice of the wealthiest one percent is greater than the CARES Act funded for all hospitals in America,” says Texas Democrat Lloyd Doggett. “It’s greater than CARES provided for all state and local governments.”

The JCT analysis found that 80% of the benefit of the bill went to just 43,000 taxpayers each earning over $1 million a year. The average tax break for those 43,000 individuals was $1.6 million, an interesting number when one considers the loudness of the controversy over $1,200 relief checks for everyone else. Doggett joined Rhode Island Senator Sheldon Whitehouse in sending a letter to the Trump administration, demanding to know the provenance of these tax breaks. “This irresponsible provision must be repealed,” he says. It’s possible we’ll find out someday whose idea it was to insert those breaks. By then, however, other windfalls from the Covid-19 rescue might have rendered the $195 billion bailout appetizer quaint.

With the Fed’s announcement on April 9th of a $2.3 trillion program that includes purchases of junk bonds, the toolkit for support of the financial economy now encompasses nearly every conceivable official response apart from subsidy of stock markets. The sheer quantity of money raining down on the finance sector appears transformational, a “joyful noise” heard around the world.

Read more …

Russia has done something very wrong.

Russia Reports Record Daily Rise In Coronavirus Cases (R.)

Russia on Sunday reported a record rise of 6,060 new coronavirus cases over the previous 24 hours, bringing its nationwide tally to 42,853, the Russian coronavirus crisis response center said. The number of coronavirus cases in Russia began rising sharply this month, although it had reported far fewer infections than many western European countries in the outbreak’s early stages.

Read more …

There should be different ways.

Spain To Allow Children Outside After Six Weeks (BBC)

Spanish children have been kept indoors since 14 March, under strict measures to curb the spread of Covid-19. Now Prime Minister Pedro Sánchez aims to relax the rule on 27 April so they can “get some fresh air”. Barcelona Mayor Ada Colau, who has young children herself, this week pleaded with the government to allow children outside. Spain has seen more than 20,000 deaths since the start of the pandemic and almost 200,000 reported cases. In a televised briefing on Saturday evening, Mr Sánchez said Spain had left behind “the most extreme moments and contained the brutal onslaught of the pandemic”.


But he said he would ask parliament to extend Spain’s state of alarm to 9 May as the achievements made were “still insufficient and above all fragile” and could not be jeopardised by “hasty decisions”. Another 565 deaths were reported on Saturday, well down from the peak of the pandemic, and the government allowed some non-essential workers to resume construction and manufacturing last Monday. However, the main lockdown measures remain in place, with adults only allowed out to visit food shops and pharmacies or work considered essential. Children have been barred from leaving their homes completely.

Read more …

“The number of positives was shocking, but the fact that 100 percent of the positives had no symptoms was equally shocking..”

CDC Reviewing ‘Stunning’ Testing Results From Boston Homeless Shelter (B25)

The Centers for Disease Control and Prevention is now “actively looking into” results from universal COVID-19 testing at Pine Street Inn homeless shelter. The broad-scale testing took place at the shelter in Boston’s South End a week and a half ago because of a small cluster of cases there. “It was like a double knockout punch. The number of positives was shocking, but the fact that 100 percent of the positives had no symptoms was equally shocking,” said Dr. Jim O’Connell, president of Boston Health Care for the Homeless Program, which provides medical care at the city’s shelters. O’Connell said that the findings have changed the future of COVID-19 screenings at Boston’s homeless shelters.

“All the screening we were doing before this was based on whether you had a fever above 100.4 and whether you had symptoms,” said O’Connell. “How much of the COVID virus is being passed by people who don’t even know they have it?” The 146 people who tested positive were immediately moved to two different temporary isolation facilities in Boston. According to O’Connell, only one of those patients needed hospital care, and many continue to show no symptoms. “If we did universal testing among the general population, would these numbers be similar?” said Lyndia Downie, president and executive director at the Pine Street Inn.

“I think there are no many asymptomatic people right now. We just don’t know. We don’t have enough data on universal testing to understand how many asymptomatic people are contagious.” Hundreds of tests are now set to be conducted at additional Boston homeless shelters in the coming days. “It tells you, you don’t know who’s at risk. You don’t know what you need to do to contain the virus if you don’t actually have the details or facts,” said Marty Martinez, Boston’s chief of Health and Human Services.

Read more …

His own party appears to be after his head.

38 Days When Britain Sleepwalked Into Disaster (Times)

On the third Friday of January a silent and stealthy killer was creeping across the world. Passing from person to person and borne on ships and planes, the coronavirus was already leaving a trail of bodies. The virus had spread from China to six countries and was almost certainly in many others. Sensing the coming danger, the British government briefly went into wartime mode that day, holding a meeting of Cobra, its national crisis committee. But it took just an hour that January 24 lunchtime to brush aside the coronavirus threat. Matt Hancock, the health secretary, bounced out of Whitehall after chairing the meeting and breezily told reporters the risk to the UK public was “low”.

This was despite the publication that day of an alarming study by Chinese doctors in the medical journal, The Lancet. It assessed the lethal potential of the virus, for the first time suggesting it was comparable to the 1918 Spanish flu pandemic, which killed up to 50 million people. Unusually, Boris Johnson had been absent from Cobra. The committee — which includes ministers, intelligence chiefs and military generals — gathers at moments of great peril such as terrorist attacks, natural disasters and other threats to the nation and is normally chaired by the prime minister. Johnson had found time that day, however, to join in a lunar new year dragon eyes ritual as part of Downing Street’s reception for the Chinese community, led by the country’s ambassador.

It was a big day for Johnson and there was a triumphal mood in Downing Street because the withdrawal treaty from the European Union was being signed in the late afternoon. It could have been the defining moment of his premiership — but that was before the world changed. That afternoon his spokesman played down the looming threat from the east and reassured the nation that we were “well prepared for any new diseases”. The confident, almost nonchalant, attitude displayed that day in January would continue for more than a month. Johnson went on to miss four further Cobra meetings on the virus.

As Britain was hit by unprecedented flooding, he completed the EU withdrawal, reshuffled his cabinet and then went away to the grace-and-favour country retreat at Chevening where he spent most of the two weeks over half-term with his pregnant fiancée, Carrie Symonds. It would not be until March 2 — another five weeks — that Johnson would attend a Cobra meeting about the coronavirus. But by then it was almost certainly too late. The virus had sneaked into our airports, our trains, our workplaces and our homes. Britain was on course for one of the worst infections of the most deadly virus to have hit the world in more than a century. Last week, a senior adviser to Downing Street broke ranks and blamed the weeks of complacency on a failure of leadership in cabinet. In particular, the prime minister was singled out. “There’s no way you’re at war if your PM isn’t there,” the adviser said.

Read more …

If Osaka can ask for raincoats to be donated as hazmat suits, so can Britain. No shortage of raincoats.

UK Medical Staff Face Weeks Without Protective Gowns (O.)

Doctors and nurses treating Covid-19 patients face shortages of protective full-length gowns for weeks to come, it has emerged, as anger builds over the failure to stockpile the garments. Critical shortages of the gowns have meant that some trusts have already had to make do with the best available alternatives as a result of the shortages, which forced a sudden change in Public Health England (PHE) guidelines on the use of gowns on Friday. Concerns are being raised within the NHS over why the gowns did not form part of the government’s pandemic stockpile. It is understood shortages are already forcing some NHS workers to use the controversial new guidelines, which tell them to wear a plastic apron with coveralls should the specialist fluid-repellent gowns run out. Workers are also advised to reuse washed aprons.

Meanwhile, surgeons are being told by senior colleagues not to put themselves at risk should they be unable to wear a protective gown. Professor Neil Mortensen, from the Royal College of Surgeons of England, said surgeons should not risk their health if fluid-repellent gowns or coveralls could not be used. “We are deeply disturbed by this latest change to personal protective equipment (PPE) guidance, which was issued without consulting expert medical bodies,” he said. “After weeks of working with PHE and our sister medical royal colleges to get PPE guidance right, this risks confusion and variation in practice across the country.”

Health unions warned that staff could begin to refuse to work if they felt the new guidelines put them at serious risk of contracting the coronavirus. Sara Gorton, Unison’s head of health, said: “Managers must be truly honest with health workers and their union reps over the weekend. If gowns run out, staff in high-risk areas may well decide that it’s no longer safe for them to work.” Last night, the British Medical Association (BMA) also warned that it would support doctors who refused to work with inadequate PPE. “There are limits to the level of risk staff can be expected to expose themselves and their patients to,” said Dr Chaand Nagpaul, BMA council chair.

Read more …

No kidding, there’s a video somewhere here entitled: “Flocks of chickens to be slaughtered over coronavirus.. “

Lockdown Puts Increasing Strain On Britain’s Food System (Ind.)

From a mosque in Banbury, taxi drivers left out of work during the lockdown are picking up an unusual fare: hundreds of doughballs and garlic dip that had been destined for local pizza restaurants and are now being diverted to people’s homes. Yasmin Kaduji, who runs Banbury Community Fridge is one of thousands of people working overtime across the UK to get meals to three million people thought to be going hungry due to the coronavirus pandemic. Yet, at the same time British farmers are warning they have been forced to throw millions of gallons of milk down the drain because it no longer has a buyer, cheesemakers are binning artisan cheese and meat processors have an overabundance of sirloin, rib-eye steaks and prime roasting joints. Supply and demand are severely misaligned.

While supermarket stocks have returned closer to normal after being plundered last month, more deep-rooted problems lay ahead for Britain’s food supplies which are set to come under increasing strain as lockdown is extended for at least another three weeks and could go on for much longer. The problem is not that there is not enough food but that the well-established routes that supply it have been upended so abruptly. When we saw empty shelves last month, the primary cause was not inconsiderate stockpilers, as some government ministers claimed, but the fact that a massive part of the food industry had been shut down overnight without a plan in place for how hundreds of millions of meals would be redirected.

Tim Lang, professor of food policy, at London’s City University, argues that the coronavirus pandemic has exposed the fragility of our food system; a system which stretches out over thousands of miles, dozens of countries, and is reliant on migrant labour and air freight. That system has been reshaped, according to Professor Lang’s analysis, largely to suit the interests of nine companies which sell 90 per cent of the food we buy. Supermarkets have been happy to rely on sprawling supply chains that are left exposed during a crisis, as long as the price is right and the product sells. This, along with a “dangerously complacent” government, has left the UK vulnerable in the current situation, Professor Lang argues.

Read more …

But the incumbent order always protests violently first.

Pandemics Have Reshaped The World In Unpredictable Ways Throughout History (ProsM)

In just four years—from 1347 to 1351—between a third and a half of the population of Europe died. That would be world-shaking enough in itself, but it also completely rewrote the social order. Before the Black Death, European society had for centuries been structured around what we’d later call feudalism: to over-simplify massively, the system by which poorer people would work for richer ones in exchange for access to their land, and put up with having no freedom of movement because otherwise they didn’t eat. But when plague caused the population to collapse, food and land prices plummeted, too. Land without workers turned out to be worthless, so the lords found themselves competing for labourers. Despite assorted ruling class efforts to overcome the laws of supply and demand, wages rose, and keeping peasants tied to particular scraps of land proved impossible.

The Black Death didn’t just kill people. It probably killed feudalism, too. It’s too early to know how coronavirus might reshape 21st-century society. But we can certainly speculate. Perhaps, as large chunks of the workforce simultaneously shift to working from home for the first time, it’ll kill the idea that you need to be in the office to get stuff done. If it turns out that employees will do their work even if they’re not literally in their managers’ line of sight, bosses could finally shake their addiction to presenteeism. That could have all sorts of unpredictable knock-on effects: less pressure on transport networks, lower emissions, even relief for overheated housing markets as people discover they can live further from work. Or perhaps it could drive an increase in mothers’ participation in the workforce: more flexible office culture, after all, would make it easier to combine work with caring responsibilities.

[..] Now that a fear of financial ruin might drive sick, contagious people to work when they should be in isolation, perhaps we can go back to talking about the state as the enabler of our freedoms rather than the barrier to them. Or perhaps it won’t: where this will take us, we just don’t know, and your guess is as good as mine. But pandemics have been reshaping the world in unpredictable ways throughout history. If this crisis is even a fraction as serious as it seems, don’t be surprised if the world afterwards looks very unlike the world before.

Read more …

 

We would like to run the Automatic Earth on people’s kind donations. Since their revenue has collapsed, ads no longer pay for all you read, and your support is now an integral part of the process.

Thanks everyone for your wonderful donations to date.

 

 

 

 

Pirro is certified nuts:

 

 

This ad is nuts too:

 

 

And then there are the good people…

 

 

 

 

Support the Automatic Earth. It’s good for your mental health.

 

Apr 082020
 


Elliott Erwitt California, USA 1956

 

To End the Pandemic, Give Universal Testing the Green Light (Patel/Patel)
UK To Have More Corona Deaths Than Italy, Spain, France, Germany Combined (G.)
Boris Johnson’s Scientists Were Slow To Sound The Alarm (R.)
Low Antibody Levels Raise Questions About Coronavirus Reinfection Risk (SCMP)
Staggering Surge Of NYers Dying In Their Homes (Gothamist)
Cuomo, De Blasio Urged To Act On ‘Uneven’ Covid-19 Death Toll (TheCity)
South Korea Virus Death Toll Hits 200 (Yonhap)
CDC Removes Unusual Guidance To Doctors About Chloroquines (R.)
EU Ministers Fail To Agree Virus Economic Rescue In All-Night Talks (R.)
US Economy Will Eventually Reopen But With Big Changes: Kudlow (R.)
Worldwide Debt Reached 322% of GDP Before COVID19 Pandemic (Sky)
Former Ecuador President Correa Sentenced To 8 Years For Corruption (R.)
Assange’s Life In Grave Danger After 1st COVID19 Death In Belmarsh Prison (RT)
Judge Refuses To Grant Julian Assange’s Partner Anonymity (Ind.)

 

 

• US records highest Covid-19 deaths in single day: More than 1,970 deaths were recorded on Tuesday with some states yet to share their totals.

• U.S. reports 30,706 new cases of coronavirus and 1,970 new deaths. Total of 398,785 cases and 12,893 deaths.

• Reported US coronavirus deaths @ryanstruyk @CNN:
– 4 weeks ago: 31 deaths
– 3 weeks ago: 111 deaths
– 2 weeks ago: 704 deaths
– 1 week ago: 3,834 deaths
Right now: 12,893 deaths

• In New York City, 149,558 people have been tested for coronavirus so far.
– 50% of them tested positive.

• @Amy_Siskind: 2,000 American died today alone. 400,000 reported cases in the US. The US mortality rate is now 3.2%. At 1,000 deaths it was at 1.5% and has been steadily rising. The mortality rate of the 1918 flu was 2.5%. For the flu is it <0.1%

Trend 1: the US accounts for a higher proportion of worldwide cases and deaths each day.
* US now accounts for 15.7% of all deaths, up from 9% one week ago.
* US accounts for 28% of all worldwide cases, up from 25% 2 days ago.
We make up 4.2% of the world population.

 

 

Cases 1,446,981 (+ 87,971 from yesterday’s 1,359,010)

Deaths 83,090 (+ 7,190 from yesterday’s 75,900)

 

 

 

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

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 21% !

 

 

From SCMP:

 

 

From COVID2019Info.live:

 

 

 

 

Sometimes I feel like I’m the only one hammering away at this, so this is good to see, coming from two doctors.

You can forget about re-opening your economy without all-out testing. You can forget about travel if you haven’t been tested. At least twice.

But universal testing is still very far away. All we see is countries inventing excuses to not test. I haven’t seen one that has tested even 1% of its population.

To End the Pandemic, Give Universal Testing the Green Light (Patel/Patel)

We have no idea what the spread of this virus truly is thanks to costly under-testing at the start of this pandemic, but all of the evidence points to mass testing as the only way out of a perpetual cycle of social distancing and caseload spikes. Social distancing is buying us time, but without universal testing, this period of pause delays the inevitable. That’s why we’re calling for a national mobilization to create a universal testing program for every American. Such a program should categorize people in three ways: they had Covid-19, they have Covid-19, or they are still at risk for getting Covid-19. Green, Red, Yellow—that simple, no more uncertainty. It would use two types of tests to accomplish this categorization.


The Two Types of Tests for Covid-19. When testing for Covid-19, we can look at the presence of either (1) the actual viral antigen during infection or the (2) antibodies during the middle stage of infection and after. (For the sake of simplicity we are only going to talk broadly about the antibody test as one type of antibody.) Covid-19 testing in the US currently is focused on antigen testing; a nasal swab is used to test for the presence of Covid-19 proteins in your mucus. Such tests need to be made widely available in ways that do not clog our emergency rooms. Mobile testing for at risk seniors as well as rapid expansion of drive through testing facilities, or even self-administered home swab kits that can be securely sent to labs can help rapidly identify those who need to be on the strictest quarantine (Red).


Data Visualization: Suraj Patel And Viral Patel

We also need to increase the capacity to read these tests. South Korea reported its first Covid-19 case the same day as the USA, but had six times the testing capacity per capita. Fortunately, the science behind analyzing Covid-19 antigen tests is widely available—university labs, commercial labs, and the government all have the equipment needed to read them. They just need to be set up for testing and approved to analyze samples. That requires no medical breakthrough, just political leadership, which may be the taller order right now. These antigen tests, however, can only tell providers if a person has an active Covid-19 infection or are asymptomatic carriers.


We also need to approve serological blood and/or ELISA antibody tests that can be rapidly deployed to detect disease immunity. In some cases these tests can be self-administered at home to test for immunity from Covid-19. This isn’t a fairy tale idea. Public Health England is attempting to make millions of 15-minute at-home testing kits available to the general public at pharmacies and via mail the moment one of the tests proves efficacious. The UK’s first options just recently failed, but the science behind antibody tests tell us it is a matter of when, not if one of these tests are successful.

Read more …

This is devastating. Italy, France, Spain have terrible numbers of their own, overwhelmed health care, you name it.

On the bright side, Boris kept the pubs open for two more weeks.

UK To Have More Corona Deaths Than Italy, Spain, France, Germany Combined (G.)

World-leading disease data analysts have projected that the UK will become the country worst hit by the coronavirus pandemic in Europe, accounting for more than 40% of total deaths across the continent. The Institute for Health Metrics and Evaluation (IHME) in Seattle predicts 66,000 UK deaths from Covid-19 by August, with a peak of nearly 3,000 a day, based on a steep climb in daily deaths early in the outbreak. The analysts also claim discussions over “herd immunity” led to a delay in the UK introducing physical distancing measures, which were brought in from 23 March in England when the coronavirus daily death toll was 54. Portugal, by comparison, had just one confirmed death when distancing measures were imposed.


The IHME modelling forecasts that by 4 August the UK will see a total of 66,314 deaths – an average taken from a large estimate range of between 14,572 and 219,211 deaths, indicating the uncertainties around it. The newly released data is disputed by scientists whose modelling of the likely shape of the UK epidemic is relied on by the government. Prof Neil Ferguson, of Imperial College London, said the IHME figures on “healthcare demand” – including hospital bed use and deaths – were twice as high as they should be. The IHME, which is responsible for the ongoing Global Burden of Disease study, calculated the likely need for hospital admissions and intensive care beds and projected deaths in European countries hit by Covid-19.

Looking at the measures taken by the UK to curb the spread of the disease, the institute says the peak is expected in 10 days’ time, on 17 April. At that point the country will need more than 102,000 hospital beds, the IHME says. There are nearly 18,000 available, meaning a shortfall of 85,000. The same grim picture applies to intensive care beds. At the peak, 24,500 intensive care beds will be needed and 799 are available, the analysts predict. There will be a need for nearly 21,000 ventilators, they say. At the peak the UK will see 2,932 deaths a day, the IHME forecasts. The death toll in other European countries that are now struggling with Covid-19 will be lower, they say. Spain is projected to have 19,209 deaths by the same date, Italy 20,300 and France 15,058. All three countries have imposed tougher lockdown measures than the UK.

Read more …

Not an excuse for Boris anymore than it is for Trump, but it does tell us somethinng about what passes for science.

Boris Johnson’s Scientists Were Slow To Sound The Alarm (R.)

It was early spring when British scientists laid out the bald truth to their government. It was “highly likely,” they said, that there was now “sustained transmission” of COVID-19 in the United Kingdom. If unconstrained and if the virus behaved as in China, up to four-fifths of Britons could be infected and one in a hundred might die, wrote the scientists, members of an official committee set up to model the spread of pandemic flu, on March 2. Their assessment didn’t spell it out, but that was a prediction of over 500,000 deaths in this nation of nearly 70 million. Yet the next day, March 3, Prime Minister Boris Johnson was his cheery self. He joked that he was still shaking hands with everyone, including at a hospital treating coronavirus patients.

“Our country remains extremely well prepared,” Johnson said as Italy reached 79 deaths. “We already have a fantastic NHS,” the national public health service, “fantastic testing systems and fantastic surveillance of the spread of disease.” Alongside him at the Downing Street press conference was Chris Whitty, the government’s chief medical adviser and himself an epidemiologist. Whitty passed on the modelling committee’s broad conclusions, including the prediction of a possible 80% infection rate and the consequent deaths. But he played them down, saying the number of people who would be infected was probably “a lot lower” and coming up with a total was “largely speculative.”

The upbeat tone of that briefing stood in sharp contrast with the growing unease of many of the government’s scientific advisers behind the scenes. They were already convinced that Britain was on the brink of a disastrous outbreak, a Reuters investigation has found. [..] interviews and documents also reveal that for more than two months, the scientists whose advice guided Downing Street did not clearly signal their worsening fears to the public or the government. Until March 12, the risk level, set by the government’s top medical advisers on the recommendation of the scientists, remained at “moderate,” suggesting only the possibility of a wider outbreak.

Read more …

That throws another 1000 theories out the window.

Low Antibody Levels Raise Questions About Coronavirus Reinfection Risk (SCMP)

Researchers in Shanghai hope to determine whether some recovered coronavirus patients have a higher risk of reinfection after finding surprisingly low levels of Covid-19 antibodies in a number of people discharged from hospital. A team from Fudan University analysed blood samples from 175 patients discharged from the Shanghai Public Health Clinical Centre and found that nearly a third had unexpectedly low levels of antibodies. In some cases, antibodies could not be detected at all. “Whether these patients were at high risk of rebound or reinfection should be explored in further studies,” the team wrote in preliminary research released on Monday on Medrxiv.org, an online platform for preprint papers.

Although the study was preliminary and not peer-reviewed, it was the world’s first systematic examination of antibody levels in patients who had recovered from Covid-19, the disease caused by the coronavirus, the researchers said. All of the patients had recently recovered from mild symptoms of the disease and most of those with low antibody levels were young. The researchers excluded patients who had been admitted to intensive care units because many of them already had antibodies from donated blood plasma. Antibodies are generated by the immune system and have unique chemical structures to inhibit specific pathogens. The coronavirus antibody intercepts the spike protein on the viral envelope to prevent it from binding with human cells.

The researchers said they were surprised to find that the antibody “titer” value in about a third of the patients was less than 500, a level that might be too low to provide protection. “About 30 per cent of patients failed to develop high titers of neutralising antibodies after Covid-19 infection. However, the disease duration of these patients compared to others was similar,” they said. The team also found that antibody levels rose with age, with people in the 60-85 age group displaying more than three times the amount of antibodies as people in the 15-39 age group. The low amounts of antibodies could affect herd immunity, resistance to the disease among the general population to stop its spread.

“This is a clinical observation we made at the front line. What this will mean to herd immunity will require more data from other parts of the world,” Professor Huang Jinghe, the leader of the team, said on Tuesday. Huang said 10 of the patients in the study had an antibody presence so low it could not even be detected in the laboratory. These patients experienced typical Covid-19 symptoms including fever, chill and a cough, but might have beaten back the virus with other parts of the immune system such as T-cells or cytokines. How they did this was still unclear. “Vaccine developers may need to pay particular attention to these patients,” Huang said. If the real virus could not induce antibody response, the weakened version in the vaccine might not work in these patients either.

Read more …

Two trends appear: people dying at home, and blacks dying in far larger -relative- numbers.

Staggering Surge Of NYers Dying In Their Homes (Gothamist)

If you die at home from the coronavirus, there’s a good chance you won’t be included in the official death toll, because of a discrepancy in New York City’s reporting process. The problem means the city’s official death count is likely far lower than the real toll taken by the virus, according to public health officials. It also means that victims without access to testing are not being counted, and even epidemiologists are left without a full understanding of the pandemic. As of Monday afternoon, 2,738 New York City residents have died from ‘confirmed’ cases of COVID-19, according to the city Department of Health. That’s an average of 245 a day since the previous Monday.

But another 200 city residents are now dying at home each day, compared to 20 to 25 such deaths before the pandemic, said Aja Worthy-Davis, a spokeswoman for the medical examiner’s office. And an untold number of them are unconfirmed. That’s because the ME’s office is not testing dead bodies for COVID-19. Instead, they’re referring suspected cases to the city’s health department as “probable.” “If someone dies at home, and we go to the home and there [are] signs of influenza, our medical examiner may determine the cause of death was clearly an influenza-like illness, potentially COVID or an influenza-like illness believed to be COVID,” said Worthy-Davis. “We report all our deaths citywide to the health department, who releases that data to the public.”

But the health department does not include that number in the official count unless it is confirmed, a spokesman said. “Every person with a lab confirmed COVID-19 diagnosis is counted in the number of fatalities,” the spokesman, Michael Lanza, said in an email. He said the city’s coronavirus death tally does not break down who died at home versus who died in a hospital from the virus. [..] Statistics from the Fire Department, which runs EMS, confirm a staggering rise in deaths occurring at the scene before first responders can transport a person to a hospital for care.

The FDNY says it responded to 2,192 cases of deaths at home between March 20th and April 5th, or about 130 a day, an almost 400 percent increase from the same time period last year. (In 2019, there were just 453 cardiac arrest calls where a patient died, according to the FDNY.) That number has been steadily increasing since March 30th, with 241 New Yorkers dying at home Sunday — more than the number of confirmed COVID-19 deaths that occurred citywide that day. On Monday night, the city reported 266 new deaths, suggesting the possibility of a 40% undercount of coronavirus-related deaths.

Read more …

I haven’t seen any genetic explanations for this.

Cuomo, De Blasio Urged To Act On ‘Uneven’ COVID19 Death Toll (TheCity)

Responding to signs that coronavirus is exacting an outsize toll on black and Latino New Yorkers, elected officials are stepping up pressure on Mayor Bill de Blasio and Gov. Andrew Cuomo to disclose details — and act. On Monday, 10 South Bronx elected officials asked Cuomo to immediately open a multipurpose medical facility at the Harlem River Yards, a waterfront site owned by the state. Their letter cites THE CITY’s report on an outsize death toll from the Bronx, using city Health Department statistics. As of last Friday, Bronx residents were twice as likely to die of coronavirus as New York City residents as a whole.


The officials, among them veteran Rep. José Serrano, asked Cuomo to establish a rapid testing facility, field hospital, and temporary barracks for medical personnel on the property, currently leased to the Schenectady-based Galesi Group. “If New York State can not accommodate this request, we ask that you convey the rationale as to why and that you request assistance from the federal government to activate this proposal,” they wrote. “We fear that a lack of adequate response to COVID-19 in our community will lead to a record number of deaths associated with New York City’s most vulnerable and even further health disparities.”

And it appears the outbreak may be growing increasingly deadly. Not only does The Bronx have the highest number of fatalities as a share of its population of any borough — its death rate is also growing the fastest, THE CITY’s analysis of city Health Department data suggests. In the Bronx, about 84% of residents are black, Latino or mixed race, Census data show, compared with 39% in Manhattan, the borough with the lowest death rate.


[..] In other large locales, demographic data has shown that low-income and black and Latino communities are being disproportionately affected: In Chicago, for example, 61 of the 86 deceased — 70% — were black, NPR affiliate WBEZ reported Sunday. Black residents make up less than one-third of Chicago’s population. In Louisiana, around 70% of the dead are black, the state’s department of health reports, while roughly 33% of the state is black. About 4-in-10 of those dead in Michigan are black, Michigan Radio reports, though 12% of the state is black.

Read more …

US death total is 12,901. Both countries reported their first case on the same day in January.

South Korea Virus Death Toll Hits 200 (Yonhap)

South Korea’s death toll from the new coronavirus has reached 200, and most virus victims are elderly patients with underlying diseases, health authorities here said Wednesday. An additional eight patients died of COVID-19 on Tuesday, bringing the country’s fatality number to 200, according to the Korea Centers for Disease Control and Prevention (KCDC). The country added 53 new cases, bring total virus cases to 10,384 as of Wednesday. The country reported its first death from the novel coronavirus on Feb. 20 and breached the 100 mark on March 22. Most of the victims have been elderly patients with underlying illnesses, such as cancer and pneumonia.


KCDC data showed the mortality rate of COVID-19 patients aged 80 or older stood at 20.43 percent as of Tuesday, compared with an average mortality rate of 1.93 percent. The mortality rate of COVID-19 patients aged 80 or older was a mere 3.7 percent on March 2 when health authorities began conducting such a tally but increased to 10 percent on March 20 and breached the 20 percent level as of Tuesday, the KCDC said. Health authorities said the fatality rate among elders is relatively high due to massive cluster cases at nursing hospitals where patients with underlying diseases, such as dementia, have been treated. “Diagnosis is relatively slower at nursing hospitals, which could lead to a higher mortality rate,” said Kim Woo-ju, an infectious disease specialist at Seoul’s Korea University Hospital.

Read more …

Big Pharma looking out for no. 1.

CDC Removes Unusual Guidance To Doctors About Chloroquines (R.)

The U.S. Centers for Disease Control and Prevention has removed from its website highly unusual guidance informing doctors on how to prescribe hydroxychloroquine and chloroquine, drugs recommended by President Donald Trump to treat the coronavirus. The move comes three days after Reuters reported that the CDC published key dosing information involving the two antimalarial drugs based on unattributed anecdotes rather than peer-reviewed science. Reuters also reported that the original guidance was crafted by the CDC after President Trump personally pressed federal regulatory and health officials to make the malaria drugs more widely available to treat the novel coronavirus, though the drugs in question had been untested for COVID-19.

Initially, the CDC webpage, titled Information for Clinicians on Therapeutic Options for Patients with COVID-19, had said: “Although optimal dosing and duration of hydroxychloroquine for treatment of COVID-19 are unknown, some U.S. clinicians have reported anecdotally” on several ways to prescribe the medication of COVID-19. Medical specialists had told Reuters they were surprised by that language. “Why would CDC be publishing anecdotes?” asked Dr. Lynn Goldman, dean of the Milken Institute School of Public Health at George Washington University. “That doesn’t make sense. This is very unusual.”

Doctors and other health experts had further criticized the guidance as suggesting that doctors might prescribe the medications when it isn’t established whether or not they are effective or harmful. Now the CDC website no longer includes that information. Instead, its first sentence says: “There are no drugs or other therapeutics approved by the US Food and Drug Administration to prevent or treat COVID-19.” The updated, and shortened, guidance adds that “Hydroxychloroquine and chloroquine are under investigation in clinical trials” for use on coronavirus patients.

Read more …

What does it take to break it?

EU Ministers Fail To Agree Virus Economic Rescue In All-Night Talks (R.)

European Union finance ministers failed to agree in all-night talks on more support for their coronavirus-hit economies and their chairman said on Wednesday morning he was suspending the discussions until Thursday. Diplomatic sources and officials said a feud between Italy and the Netherlands over what conditions should be attached to euro zone credit for governments fighting the pandemic was blocking progress on half a trillion euros worth of aid. “After 16 hours of discussions we came close to a deal but we are not there yet,” Eurogroup chairman Mario Centeno said. “I suspended the Eurogroup and (we will)continue tomorrow.”

The finance ministers, who started talks at 1430 GMT on Tuesday that lasted all night with numerous breaks to allow for bilateral negotiations, are trying to agree a package of measures to help governments, companies and individuals. They had hoped to agree on a half-trillion-euro programme to cushion the economic slump and finance recovery from the pandemic, and turn a page on divisions that have marred relations as the bloc struggles with the outbreak. But feuds emerged prominently again, one diplomatic source said: “The Italians want a reference to debt mutualisation as a possible recovery instrument to be analysed more in the future. The Dutch say ‘no’.” An official who participated in the talks said at around 0400 GMT on Wednesday The Hague was the only one refusing to endorse a text that the ministers were expected to agree on to get endorsement for a new set of economic measures from the bloc’s 27 national leaders.

German Finance Minister Olaf Scholz said on Twitter: “In this difficult hour Europe must stand together closely. Together with (French finance minister) Bruno Le Maire, I therefore call on all euro countries not to refuse to resolve these difficult financial issues and to facilitate a good compromise – for all citizens.” Issuing joint debt has been a battle line between economically ailing southern countries like Spain and Italy and the fiscally frugal north, led by Germany and the Netherlands, since the financial and euro zone crises began over a decade ago.

Read more …

Here’s thinking there will be huge changes that Kudlow has no idea about.

US Economy Will Eventually Reopen But With Big Changes: Kudlow (R.)

The Trump administration is aiming to reopen the U.S. economy when the nation’s top health experts give the go-ahead, but Americans’ lives will be drastically different, White House economic adviser Larry Kudlow said on Tuesday. Even when people in the United States return to work and school, they will likely have to stay home when they have signs of sickness, face more widespread and ongoing testing and submit to routine temperature taking, he told Politico in an interview. “We are aware that things are going to be different,” he said. “That’s going to be a new feature of American life. And I don’t know how quickly that gets up and going, but it’s going to be very, very important because we obviously want to prevent any recurrences.”


It remains unclear when the country, which remains largely shuttered amid the ongoing outbreak that has crushed the economy, will resume more normal operations as a number of states approach their potential peak number of cases amid federal guidelines to isolate until the end of April. [..] “It is the health people that are going to drive the medical decisions, here, the medical-related decisions,” Kudlow told Politico, adding that he still believes “that in the next four to eight weeks we will be able to reopen the economy and that the power of the virus will be substantially reduced and we will be able to flatten the curve.”

Read more …

I gave up counting.

Worldwide Debt Reached 322% of GDP Before COVID19 Pandemic (Sky)

Worldwide debt reached 322% of GDP last year, according to new figures which will worry governments planning post-coronavirus economic recoveries. Worldwide debt across all sectors rose by $10trn (£8trn) in 2019 to more than $255trn (£206trn), and that was before COVID-19, which forced many of the world’s governments to bail out businesses and to pay workers in an effort to help them survive the pandemic. By the end of last year, global debt stood at 322% of GDP – 40 percentage points higher than at the beginning of the 2008 financial crisis, according to the Institute of International Finance’s Global Debt Monitor.


The IIF forecast that the global debt burden would rise “dramatically” in 2020, with gross government debt issuance soaring to a record high of more than $2.1trn last month – more than double the average of $0.9trn in 2017-19. A global recession is looming, the monitor said, adding that this would begin with $87trn more of global debt than there was at the onset of the 2008 financial crisis. The news will worry world leaders as they continue to commit unprecedented financial stimulus to support their economies. Debt levels could climb to 342% of GDP by the end of this year, assuming a doubling of net government borrowing and a 3% contraction in global GDP, the monitor said.

Read more …

A good man. He’s free, he lives in Belgium. I guess maybe Ecuador literally is a banana republic?

Former Ecuador President Correa Sentenced To 8 Years For Corruption (R.)

An Ecuadorian court sentenced former president Rafael Correa on Tuesday to eight years in prison after finding him guilty of corruption charges. Correa, who was in office from 2007 to 2017, left Ecuador three years ago and now lives in Belgium. He and 19 others, including his vice president who is in prison for another corruption case, were accused of accepting $7.5 million in bribes in exchange for public contracts to finance his party’s electoral campaigns between 2012 and 2016. The court also banned Correa from participating in politics for 25 years.


The prosecution accused Correa of heading a “criminal structure” and asked for the maximum sentence. The former leader has denied the prosecution’s accusations, saying they are a political attack by current President Lenin Moreno, who Correa initially backed in 2017. “Well, this is what they were looking for: using justice to achieve what they never could at the ballot box. I am fine. I am concerned about my colleagues,” Correa said on his Twitter account.

Read more …

State sanctioned murder. Because of COVID19, Assange can’t talk to his lawyers, he can’t participate in his own trial. We can wish for Boris to die a painful COVID death, but there are a hundred just like him waiting in the wings, so it wouldn’t make any difference.

Assange’s Life In Grave Danger After 1st COVID19 Death In Belmarsh Prison (RT)

Conditions in Belmarsh prison, where Julian Assange is held, might be worse than London is willing to admit, WikiLeaks editor-in-chief Kristinn Hrafnsson told RT, adding that Covid-19 could swiftly tear through the facility. A prison environment is “like a Petri dish” for a virus, Hrafnsson explained, particularly such a highly infectious one as the novel coronavirus, which has already struck more than 1 million people around the world. The max security Belmarsh prison, where the WikiLeaks founder is being kept pending extradition to the US, has just reported its first death from the disease. According to Hrafnsson, there are other worrying signs too. “We have prison guards going in and out. A third of them at least are not showing up to work either because they have the virus or because they are in isolation.”

He also said he was sure the number of inmates who contracted Covid-19 in Belmarsh is “undoubtedly higher than reported,” since prison authorities have simply not conducted enough tests on the population to “know what is going on exactly.” The situation is particularly alarming for Assange, who was in a rather poor state of health even before the outbreak of the deadly disease, Hrafnsson added. “Assange is in very bad shape. He is a very vulnerable individual, especially to a virus like Covid-19. He has an underlying lung condition and would be considered at great risk even if living normally in society. He is in a situation when his life is in danger every day and every hour.”

The Wikileaks editor-in-chief said that British authorities are outright neglecting their duties by leaving Assange — as well as other prisoners — behind bars, given the current circumstances. Hrafnsson also slammed a British judge’s decision to carry on with Assange’s extradition hearing amid the ongoing pandemic, as though nothing has been happening. The Wikileaks founder is unable to take part in any court sessions now as he has to be moved through the infected prison each time he is about to do that, even via a video link. Assange’s lawyers also have lost all contact with their client for about three weeks at this point, since they cannot visit him prison and cannot talk to him by video chat either, the Wikileaks editor-in-chief said.

Read more …

The UK manages to sink deeper on all fronts.

Judge Refuses To Grant Julian Assange’s Partner Anonymity (Ind.)

A judge has refused to grant legal anonymity to Julian Assange’s partner after hearing claims the US had tried to obtain their children’s DNA. Representatives of the Wikileaks founder submitted evidence to Westminster Magistrates’ Court claiming that American agencies had expressed interest in testing nappies discarded when Mr Assange’s partner and children visited him at the Ecuadorian embassy. District Judge Vanessa Baraitser found that, even if the allegation were true, there was no reason to believe US agencies meant to harm his young family. She referred to the claim while rejecting the bid to anonymise Mr Assange’s partner, who the court heard wishes to live “quietly” with her young children away from publicity.

Following a submission by the Press Association news agency to the court, Judge Baraitser ruled that the woman’s right to a private family life was outweighed by the need for open justice. But the judge delayed making the woman’s identity public until 4pm on 14 April, pending a possible judicial review at the High Court. Mr Assange was previously denied bail amid concerns over the spread of coronavirus in British jails, and the application had been supported by the unnamed woman. The 48-year-old is being held on remand at HMP Belmarsh, in south-east London, ahead of an extradition hearing on 18 May. During the virtual hearing, the judge also rejected a bid to delay the hearing because of the coronavirus crisis.

Mr Assange’s barrister, Edward Fitzgerald QC, said there were “insuperable” difficulties preparing his case because of the pandemic, and requested an adjournment until September. He told the court that he had not been able to see Mr Assange in jail and could see “no viable” way his client could be present in court to hear witnesses. On Mr Assange’s mental state, he told the judge: “There are difficulties of the pandemic with the defendant himself. You are aware … he has well documented problems of clinical depression.” Mr Assange’s treatment was on hold during the lockdown and he had been unable to see his family. Mr Fitzgerald said: “In those circumstances, in his vulnerable condition, to force him to enter a full evidential hearing in May, we respectfully submit it would be unjust. We respectfully submit it would be oppressive.”

Read more …

 

It must be possible to run the Automatic Earth on people’s kind donations. These are no longer the times when ads pay for all you read, your donations have become an integral part of the process.

Thanks everyone for your generous donations.

 

 

 

 

 

 

One for the stay home fitness crowd:

 

 

 

 

Support the Automatic Earth in virustime. It’s good for your health.

 

Apr 072020
 


Edward Hopper Office in a Small City 1953

 

PM’s Move To ICU Shows He’s Likely To Have Severe COVID19 (G.)
To Use Ventilators You Need Sedatives. The US Is Running Out Of Both (Vox)
UK Testing Chief Admits None Of 3.5 Million Antibody Kits Work (Ind.)
Spain To Extend Coronavirus Testing To People Without Symptoms (RT)
Dem Lawmaker Says Trump Saved Her Life By Recommending Hydroxychloroquine (NW)
Untested COVID19 Treatment Trump Talks Up Can Have Fatal Side Effect (IC)
Doctors Embrace Drug Touted By Trump Without Hard Evidence It Works (R.)
Trump, 3M Deal Allows N95 Face Masks To Be Exported To Canada (G.)
CDC Director Says Death Toll Will Be ‘Much Lower’ Than Projected (ABC)
Missouri GOP Senator Sets Up Potential Clash With Own Party (Pol.)
Almost a Third of Young Americans Have Lost Their Jobs So Far (Vice)
Nobody Asks Why Our Economy Is So Rigged, Brittle and Exploitive (CHS)
US Army Temporarily Stops Sending New Recruits To Basic Training (JTN)
Turkey Sets Strict Measures As Cases Soar (BBC)
Wall Street Wins – Again (Nomi Prins)
Money Minus Value, No Limit (Kunstler)
State Dep’t Refuses To Back Hillary Clinton Attempt To Avoid Deposition (JTN)
OPCW Report Set To Blame Syria Chemical Attacks On Assad (G.)

 

 

• US records 1,150 coronavirus deaths in 24 hours: Johns Hopkins tracker

• Reported US coronavirus cases via @ryanstruyk @CNN:

5 weeks ago: 91 cases
4 weeks ago: 678 cases
3 weeks ago: 4,459 cases
2 weeks ago: 42,663 cases
1 week ago: 160,698 cases
Right now: 367,650 cases

• Reported US coronavirus deaths via @ryanstruyk @CNN:

Feb. 6: 0
Mar. 6: 17
April 6: 10,908

 

 

Cases 1,359,010 (+ 76,627 from yesterday’s 1,282,383)

Deaths 75,900 (+ 5,717 from yesterday’s 70,183)

 

 

 

From Worldometer yesterday evening -before their day’s close- Note: US had over 30,000 new cases in 24 hours.

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 21% !

 

 

From SCMP:

 

 

From COVID2019Info.live:

 

 

 

 

“The British people were shocked” when they heard Boris went to the ICU, says a BBC Breakfast presenter. Well, of course, because you’ve all been lying about his condition the whole time, you and the government. The next thing they talk about now is how competent the medical staff is, as are the politicians taking over from the PM. La la land.

Boris is in real danger. Andrew Cuomo last week said that in New York only 20% of patients survive a ventilator. Numbers in Europe appear a bit better. But the reason Boris will be put on one is very likely that his own immune system has started to attack him in a cytokine storm. This would typically happen after the 7-10-day period since he got infected.

At the same time, because there is no vaccine, the immune system is the only thing that can save a patient’s life. There are various machines that can take over various’ organs’ functions, and there are medications that may help some, but in the end it’s the immune system.

Here’s wondering if Boris has taken any chloroquine, and if so, at what stage.

 

This is a good overview of -potential- proceedings.

PM’s Move To ICU Shows He’s Likely To Have Severe COVID19 (G.)

Boris Johnson’s move to the intensive care unit (ICU) of St Thomas’ hospital signals that he has severe Covid-19. Oxygen was available through a mask on the ward he was admitted to on Sunday, but the move to intensive care on Monday strongly suggests that was not enough to help him with the breathing problems caused by the viral pneumonia that the virus triggers. Most people in intensive care, according to the World Health Organization, require ventilation. Around 15% of people with Covid-19 become seriously ill and need oxygen therapy in hospital. A further 5% are moved into intensive care, so that their breathing can be taken over by mechanical ventilation. Some will also need support for other organs.

Anyone who is put on a ventilator will need to be sedated, although they are not unconscious. A tube must be inserted into the patient’s windpipe, so that air and oxygen from the machine can be blown into the lungs. That takes the strain off the lungs while they recover. [..] Ventilation is vital in most severe Covid-19 cases, which is why there has been a huge effort to obtain more machines and even encourage engineering businesses to switch production lines to make them. In the severest cases, patients are put on an ECMO machine (extracorporeal membrane oxygenation), which can support both the heart and lungs where somebody is in a life-threatening condition. Johnson’s admission to intensive care comes shortly after the 10th day of the illness, which has been identified as a real danger point.

During the first week, most people’s immune systems rally and manage to fight off the virus. Those who do not recover and continue to struggle for breath and have a fever often need help around the middle of the second week. In that second week, the immune system can sometimes go into overdrive. In its attempt to fight the virus, it creates what is called a cytokine storm, in which the immune system attacks the body’s own organs. The heart, the liver and kidneys are most likely to be affected and all of them can need to be supported by machines that can take over their function. The latest report into patients admitted into critical care so far from the intensive care national audit and research centre (IANARC), showed 2,621 admissions up to 3 April, most of whom are still there. The mean age was 60 and 73% of them were men. More than 35% of them were overweight, with a body mass index (BMI) between 25 and 30, and 37% were obese.

Derek Hill, professor of medical imaging at University College London, said: “It seems clear that the prime minister went to hospital because he had difficulty breathing. It seems he was initially put on oxygen, and was conscious. “But as often happens with Covid-19, his condition has now deteriorated so he has been admitted to intensive care. “We understand the PM is on a type of breathing support called Continuous positive airway pressure (Cpap), which is commonly used in treatment of obstructive sleep apnoea. Experience in Italy and other European countries has shown that Cpap can be effective in Covid-19 patients, at least initially. Many Covid-19 patients progress to invasive ventilation. Invasive ventilation involves a tube being put down the patient’s airway.”

Read more …

Insult and injury. Entire industries will be forced back from China to the US and Europe.

To Use Ventilators You Need Sedatives. The US Is Running Out Of Both (Vox)

New York City may be the first city in the country to run out of ventilators, other cities are expected to follow. New Jersey Governor Phil Murphy recently tweeted, “Ventilators are our #1 need right now. I won’t stop fighting to get us the equipment we need to save every life we can.” Louisiana Governor John Bel Edwards predicted that his state would run out of ventilators by April 6. But to save a Covid-19 patient’s life with a ventilator, you also need an ample supply of medications, both to be able to use the machine and to prevent agonizing pain. Experts say there’s a worrisome shortage of those, too — one that’s only expected to grow worse. “The minute you talk about ventilators you need to talk about medications,” says Esther Choo, an associate professor of emergency medicine at Oregon Health & Science University.

Choo says hospitals are already running out of medications like fentanyl, versed, propofol, and even neuromuscular blockades, what she calls “everyday bread and butter medications,” the drugs needed to induce and maintain sedation while on a ventilator. “Ventilators can’t really be used without these medications.” In severe cases of Covid-19, the patient’s’ own immune system can cause their lungs to fill with fluid. At this point, ventilators are a critical tool for keeping people alive. Medical staff insert a tube deep into the lungs in a process called intubation, in order to deliver more oxygen from a ventilator than the patient can inhale on their own.

“You can imagine if I tried to shove a plastic tube down your throat, it’s a very human reflex not to let someone do that,” Choo says. “So we place people in deep sedation.” After the tube is placed in the trachea, patients have to stay sedated — in the case of some Covid-19 patients, that can last for several weeks. [..] It’s alarming that hospitals are already experiencing shortages of these drugs, knowing what’s coming. Although President Trump has invoked the wartime Defense Production Act to start producing the additional 40,000 ventilators New York alone has requested, these won’t help stem the crisis for long without the drugs needed to use them — to say nothing of the freewheeling chaos of inter-state bidding wars for scarce supplies.

https://twitter.com/ColumbiaBugle/status/1247335654423322625

Read more …

Meanwhile in Borisland (Q: how much did you pay for those things?):

UK Testing Chief Admits None Of 3.5 Million Antibody Kits Work (Ind.)

The UK government’s new testing chief has admitted that none of the 3.5 million antibody tests ordered from China are fit for widespread use. Professor John Newton, who was appointed by health secretary Matt Hancock to oversee testing, reportedly said the tests were only able to identify immunity in people who had been severely sick with coronavirus. The tests did not pass the evaluation stage, and he was quoted by The Times as saying they were “not good enough to be worth rolling out in very large scale”. Prof Newton, director of public health improvement for Public Health England (PHE) said three “mega labs” for testing NHS staff was his top priority and did not expect university and commercial labs to be able to help.


He said: “We are not relying on lots of people coming forward to help us to achieve what’s required and we shouldn’t get too distracted by that. “There’s a big, big ask at the moment which is quite specific [on testing NHS staff]. So a lot of these companies who are offering their capacity may not be directly related to that ask and therefore they might not be as helpful at the moment.” Mr Hancock has also acknowledged that early analysis of the tests showed “some of them have not performed well”. He added, speaking on Thursday, that: “We’re hopeful that they [the tests] will improve and that the later tests that we’ve got our hands on will be able to be reliable enough for people to use them with confidence.”

Read more …

Does that mean everyone without symptoms? Every country needs to focus on this, but nobody does. They failed to secure the kits.

Spain To Extend Coronavirus Testing To People Without Symptoms (RT)

Hopes are growing that lockdown measures in Spain may be relaxed after figures suggested the country has “passed the peak” as tentative optimism moves across Europe. Spain will extend coronavirus testing to people showing no symptoms as new infection rates slow in the country, the country’s foreign minister announced. On Sunday, 647 deaths were reported over 24 hours – half the rate recorded during the previous week. Foreign Minister Arancha Gonzalez told TV station Antena 3:”We are preparing ourselves for de-escalation, for which it is important to know who is contaminated to be able to gradually lift Spanish citizens’ lockdown.” He added that Spanish companies were manufacturing 240,000 test kits a week and were still ramping up capacity.


Gonzalez’s colleague, Health Minister Salvador Illa said that Spain wanted to strengthen the coronavirus contagion slowdown as the country entered its fourth week of confinement. Elsewhere, Italy recorded its lowest daily death toll for over two weeks, as 525 people succumbed to the virus on Sunday. Germany recorded its lowest number of deaths in a week with 92 dying yesterday. Berlin announced plans to end the lockdown on April 19. France’s mortality rate also slowed for the second day running. Austria’s government revealed that it plans to start reopening shops from next week as a further indication of a tentative wave of optimism beginning to move across Europe.

Read more …

The war on chloroquine is on.

Dem Lawmaker Says Trump Saved Her Life By Recommending Hydroxychloroquine (NW)

Michigan Democratic State Representative Karen Whitsett told Fox News host Laura Ingraham on Monday that the controversial drug hydroxychloroquine stopped her coronavirus symptoms “within a couple hours.” Whitsett represents parts of Detroit, a city that has been labeled a coronavirus “hot spot.” Recent data indicated 5,032 positive cases in Detroit with 196 deaths attributable to the virus reported in the city. Used primarily to treat malaria, hydroxychloroquine has been praised by President Donald Trump as a potential therapeutic for the virus. Sunday, Trump suggested taking the drug to prevent contracting the virus. “I’m not looking at it one way or the other,” Trump said, “but we want to get out of this. If it does work, it would be a shame if we didn’t do it early. But we have some very good signs.”


While the FDA has not yet approved hydroxychloroquine for treatment of the coronavirus, Whitsett claims it worked for her. “I really want to say that you have to give this an opportunity,” Whitsett said Monday. “For me, it saved my life.” Whitsett did not receive hydroxychloroquine until the day of her coronavirus test. She was able to have her husband pick up the medication after her symptoms reached a critical phase. Hospitals in her area were full. “I honestly believed that once I got into something like that, I may not actually come out and that was my biggest fear,” Whitsett said. “And I knew that this medication would possibly save me.” Whitsett credited Trump’s mention of hydroxychloroquine during news briefings for giving her the idea of trying the drug. “If President Trump had not talked about this, it would not be something that’s accessible for anyone to get, not right now,” Whitsett said.

Read more …

Et tu, the Intercept? Chloroquine is not “untested”, just not officially as a COVID19 treatment. That’s a different thing. It’s precisely used less for malaria these days because after decades of use, the parasite that causes is suspected to have developed immunity. Plenty testing for side-effects etc. in those decades.

And do you really need to follow the New York Times in suggesting Trump touts the drug only for his own profit? Is nothing safe from the drive for clickbait and paper sales?

Untested COVID19 Treatment Trump Talks Up Can Have Fatal Side Effect (IC)

An experimental treatment for Covid-19 championed by President Donald Trump — in which patients are given doses of hydroxychloroquine, a drug used to treat malaria and lupus, along with the antibiotic azithromycin — raises the risk for some patients of dangerous irregular heartbeats that could be fatal, cardiologists warn in new guidance published by the American College of Cardiology. According to the lead author of the paper, Dr. Eric Stecker, an associate professor of cardiovascular medicine at Oregon Health & Science University, any patients treated with the combination therapy should be monitored for ventricular arrhythmia, the irregular beating of the heart’s lower chambers, which can lead to cardiac arrest.

“We don’t know the magnitude of the risk,” Stecker said in an interview on Sunday, but both drugs can raise the odds of irregular heartbeats for some patients, and the risk is greater when they are taken together. The president has repeatedly dismissed warnings from Dr. Anthony Fauci, the nation’s top infectious disease expert, that the drugs might not be as safe or effective for people infected with the new coronavirus as they are for other illnesses. On Saturday, at a White House briefing on the global pandemic, Trump urged Americans to try hydroxychloroquine and suggested that people infected with the virus had nothing to lose by taking it, as long as their doctors agree.

[..] “One of the problems with knowing very little about the Trump family’s finances,” the New York Times columnist Jamelle Bouie wrote, “is when the president gets fixated on something like hydroxychloroquine, we don’t know if it reflects his obsession with quick fixes and miracle cures or if he’s trying to juice an investment.” The New York Times reported on Monday that Trump does have “a small personal financial interest in Sanofi, the French drugmaker that makes Plaquenil, the brand-name version of hydroxychloroquine.” In a financial disclosure released last year, the president listed among his assets three family trusts that invested in a Dodge & Cox mutual fund, which had shares of Sanofi as its largest holding.

Read more …

Because there’s no time to collect the evidence, and there’s nothing else that works. The reported numbers of doctors who take it themselves might give you a hint about its dangers.

Doctors Embrace Drug Touted By Trump Without Hard Evidence It Works (R.)

The decades-old drug that President Donald Trump has persistently promoted as a potential weapon against COVID-19 has within a matter of weeks become a standard of care in areas of the United States hit hard by the pandemic — though doctors prescribing it have no idea whether it works. Doctors and pharmacists from more than half a dozen large healthcare systems in New York, Louisiana, Massachusetts, Ohio, Washington and California told Reuters they are routinely using hydroxychloroquine on patients hospitalized with COVID-19. At the same time, several said they have seen no evidence that the drug, used for years to treat malaria and autoimmune disorders, has any effect on the virus.

Use of hydroxychloroquine has soared as the United States has quickly become the epicenter of the pandemic. More than 355,000 people in the United States have tested positive for the novel coronavirus, and more than 10,000 have died. The federal government estimates that as many as 240,000 people in the country may die from the disease before the outbreak is over. Facing those numbers, and in the absence of any known effective treatments, doctors on the frontlines said they began using hydroxychloroquine and the related chloroquine on patients who are deteriorating based on a few small studies suggesting a possible benefit. Some said they had come under pressure from patients to use the therapies widely touted by Trump and other supporters.

“I may take it,” Trump said on Saturday, referring to hydroxychloroquine, though he has twice tested negative for coronavirus, according to the White House. “We’re just hearing really positive stories, and we’re continuing to collect the data.” Potential side effects of hydroxychloroquine include vision loss and heart problems. But doctors interviewed by Reuters say they are comfortable prescribing the drug for a short course of several days for coronavirus patients because the risks are relatively low and the therapies are inexpensive and generally available.

Read more …

3M will move much of its operations back to the US.

Trump, 3M Deal Allows N95 Face Masks To Be Exported To Canada (G.)

The Trump administration has agreed a deal with the US manufacturer 3M to import more than 166 million respirators from China over the next three months and allow 3M to continue exporting its US-made respirators. The agreement breaks a deadlock which resulted in Washington stopping nearly three million of the specialized masks from being exported to Ontario, stirring fears that Canada’s most populous province would run out of supplies for medical staff battling coronavirus by the end of the week. Donald Trump, who had lambasted 3M over the weekend, had warm words for the company on Tuesday, following the agreement, and its chairman and CEO, Mike Roman offered praise for the president.


“I want to thank President Trump and the administration for their leadership and collaboration,” Roman said in a written statement. “These imports will supplement the 35 million N95 respirators we currently produce per month in the United States.” Under the plan, 3M will import 166.5 million respirators (masks which form a seal over the mouth and nose and offer much greater protection than surgical masks) from its factories in China, over the coming three months. Meanwhile, the 3M statement said: “The plan will also enable 3M to continue sending US produced respirators to Canada and Latin America, where 3M is the primary source of supply.”

Read more …

I would fire him on the spot. Is he just seeking attention? Redfield was quite prominent when the US started its nightmare, but he’s pretty much gone now.

CDC Director Says Death Toll Will Be ‘Much Lower’ Than Projected (ABC)

One of the nation’s top public health officials suggested Monday that because Americans are taking social distancing recommendations “to heart,” the death toll from the novel coronavirus will be “much, much, much lower” than models have projected. “If we just social distance, we will see this virus and this outbreak basically decline, decline, decline. And I think that’s what you’re seeing,” said Robert Redfield, the Director of the Centers for Disease Control. “I think you’re going to see the numbers are, in fact, going to be much less than what would have been predicted by the models,” he said. Redfield’s remarks on Monday to AM 1030 KVOI Radio in Tucson, Arizona, struck a rosier tone than some other recent predictions.

On Monday morning, for example, the U.S. Surgeon General equated the coming week’s fallout to the attacks on Pearl Harbor. But officials on the White House task force have said they believe that even with a tough week ahead, the numbers in some places suggest that social distancing is working and could provide a reprieve eventually. National Institute for Allergies and Infectious Disease Director Anthony Fauci said he was very interested in data in New York that the number of admissions to intensive care and intubations in the last three days had started to level off. “We just got to realize that this is an indication despite all the suffering and the death that has occurred that what we have been doing has been working,” he told reporters.

At the same time, Dr. John Brownstein, a Harvard epidemiologist and ABC News contributor, said that Redfield’s comments could mislead Americans into feeling a sense that the disease’s spread is under control. “Projections and models across the board are accounting for a reduction in mobility because of social distancing, so it’s way too soon to declare any kind of victory,” he said. “This is not a moment for people to relax because they feel the models are wrong.”

Read more …

But he’s still focusing on businesses, not people.

Missouri GOP Senator Sets Up Potential Clash With Own Party (Pol.)

Most Senate Republicans are taking a cautious approach to the next step of Congress’ coronavirus response. Not Josh Hawley. The freshman Missouri GOP senator is pitching far-reaching proposals, including the federal government directly financing businesses to keep millions of workers on their payrolls — part of what he calls a “survival then surge” strategy in the face of a sputtering economy and dozens of state stay-at-home orders. It’s not exactly GOP orthodoxy to push for even greater intervention in the economy after providing new unemployment benefits, direct cash payments and more than a quarter trillion dollars in loans and grants to small businesses.

But Hawley argued in a telephone interview Monday that the economic severity in the country is “much bigger and much more severe than many other people anticipated,” and Congress needs to act accordingly. “We seem to be on a roller coaster that is currently plunging down,” Hawley said. “I personally do not want to ride that roller coaster and find where the bottom is. And I don’t think American workers should be forced to.” Hawley is one of the first Republicans to push a major add-on to Congress’ already extraordinary relief effort, and he’s fighting an uphill battle with his guarded colleagues. But the early maneuvering is a hint of the debate to come in what was once a budget-slashing party that must now weigh just how big to go in the face of a terrifying crisis.

After preaching a go-slow approach early last week, Senate Majority Leader Mitch McConnell (R-Ky.) has acknowledged a fourth bill will be needed, likely concentrating on health care. And action is almost certain to be necessary in the coming weeks in other areas: The bill’s signature $377 billion Paycheck Protection Program for small businesses is expected to run out of funding well before its June 30 end date, aides tracking the program say. Former Federal Reserve Chair Janet Yellen forecast potential 13 percent unemployment; Hawley fears 20 percent or worse. [..] Hawley’s proposal would provide businesses with refundable payroll tax rebates that reimburse 80 percent of payroll costs and give a rehiring bonus for businesses for the duration of the crisis. He says that will prevent unemployment offices from being overwhelmed, keep Americans from going into debt and give families a sense of confidence that a job is waiting for them when the crisis is over.

Read more …

Included for the headline. People should know that.

Almost a Third of Young Americans Have Lost Their Jobs So Far (Vice)

An Axios-Harris survey conducted through March 30 showed that 31 percent of respondents ages 18 to 34 had either been laid off or put on temporary leave because of the outbreak, compared with 22 percent of those 35 to 49 and 15 percent of those 50 to 64. John Gerzema, CEO of the Harris Poll, said it was important to note that the latest survey data do not factor in the doubling of U.S. jobless claims to over 6.6 million in the past week. That number “would suggest further pain and dislocation to 18-34 year olds,” he said. But the economic fears of many young people, even ones with uncomplicated medical histories, are increasingly counterbalanced by health worries as they grow more aware of the risks of COVID-19.


After hearing for months that it threatens primarily seniors and people with chronic diseases, they are now seeing how it imperils their own age group, with consequences such as lung failure. “It’s natural that as we learn more, it’ll become clear that there are substantial costs for young people, even if the risks are, in fact, much greater for the elderly,” said Jeffrey Clemens, a health and labor economist at the University of California-San Diego. “Whether people want to work depends in part on other qualities of the job, one of which is whether it comes with serious health, physical or other risks.”

Read more …

I think the answer is the Fed. Only the most crooked survive.

Nobody Asks Why Our Economy Is So Rigged, Brittle and Exploitive (CHS)

What’s remarkable about the lockdown isn’t the hue and cry about the economic damage–it’s the absence of any critical curiosity as to how our economy became so fragile that only the wealthiest contingent can survive a few weeks on savings or rainy-day funds. A healthy, resilient economy would be able to survive a few weeks of lockdown without a multi-trillion dollar bailout of every racket in the land. A society that wasn’t threadbare financially and socially would be able to function and accept individual sacrifices for the common good.

Rather than being organized to serve the common good, our economy and social order is little more than overlapping rackets: rigged “markets” operated by quasi-monopolies to enrich the few at the expense of the many; brittle bureaucracies bound by thousands of pages of mindless “compliance” and exploitive neofeudal structures in which debt-serfs are paid just enough to service their debt but not enough to afford skyrocketing costs for housing, healthcare, higher education, childcare, junk fees and taxes. While everyone is busy screaming about the damage done by the lockdown, nobody’s asking why costs are so high that few can survive a few weeks on their own means.

Nobody dares look at the soaring costs imposed by cartels and monopolies (including government and government-funded rackets such as healthcare and higher education) because it might shine a light on the money-trough they’re feeding from. (Crush every racket but mine…)

Read more …

But Russia!

US Army Temporarily Stops Sending New Recruits To Basic Training (JTN)

The Army has temporarily stopped sending new recruits to basic training, the U.S. military service announced Monday. The hiatus is an effort to help contain the spread of the coronavirus and is effective immediately. The measure will remain in place for two weeks. “This tactical pause will allow commands to ensure appropriate safety measures are in place and are operating effectively at training installations,” the Army’s Training and Doctrine Command (TRADOC) wrote in a release to Just the News. The pause will protect the current and future force, the organization’s leader said in a statement. “One of TRADOC’s main focuses is to develop leaders by accessing, training and educating soldiers,” said Gen. Paul E. Funk, II, who leads the command.


“We have to do so responsibly, and we’ve already begun protecting those currently in our ranks with social-distanced-enabled training, reduced movement of our soldiers and trainees, and increased screening of those moving across our commands.” Soldiers now in the training pipeline will finish their schools and upon graduation proceed to their next assignment, the Army said. Under new guidelines, the graduates will be medically screened before shipping out, then travel aboard sterilized buses while maintaining spaced-apart intervals. “The decision to pause the shipment of trainees to BCT [Basic Combat Training] for two weeks will allow leaders to focus on setting conditions so movement can be conducted in a safer manner in the future,” Funk said.

Read more …

One of the countries I singled out recently. Turkey’s soccer league continued playing to crowds until 10 days ago IIRC.

Turkey Sets Strict Measures As Cases Soar (BBC)

Turkish authorities have imposed new measures to limit the spread of coronavirus, as the number of infections continues to rise sharply. The country has reported 30,217 confirmed cases and 649 deaths. Face masks are mandatory on public transport, in markets and other communal spaces, and 31 cities are now closed to all but essential traffic. Turkey now has the ninth-highest number of cases worldwide, according to Johns Hopkins University data. Some 1.3 million people have fallen ill globally and more than 70,000 have died. On Twitter, Turkey’s Health Minister Dr Fahrettin Koca urged people to “stay at home”, saying the virus “draws its power from contact”.

President Recep Tayyip Erdogan has asked people to practice social distancing and stay “three paces” from one another. Schools are closed, many international and domestic flights are suspended, and mass prayers and public gatherings have been banned. But critics – including doctors and opposition politicians – say more needs to be done. The government still has not imposed a full lockdown like those in place in European countries. Data suggests Turkey now has the fastest rising number of confirmed cases in the world. Mr Erdogan imposed a nationwide confinement order on Friday, for those under 20 years old and anyone over 65 or with a chronic medical condition.

[..] “When we counted there were about 1.1 million people using public transport on a work day, and we’ve seen a lot of private cars on the streets,” key opposition figure and Mayor of Istanbul Ekrem Imamoglu told the BBC. Asked if it was crazy how many people continue to move around, he replied: “It is, absolutely.”

Read more …

Time for a revolution.

Wall Street Wins – Again (Nomi Prins)

As in 2008, the most beneficial policies and funding will be heading for Wall Street banks and behemoth corporations. Far less will be going directly to American workers through tangible grants, cheaper loans, or any form of debt forgiveness. Even the six months of student-loan payment relief (only for federal loans, not private ones) just pushes those payments down the road. The historic $2.2 trillion coronavirus relief package is heavily corporate-focused. For starters, a quarter of it, $500 billion, goes to large corporations. At least $454 billion of that will back funding for up to $4.5 trillion in corporate loans from the Fed and the remainder will be for direct Treasury loans to big companies. Who gets what will be largely Treasury Secretary Mnuchin’s choice. And mind you, we may never know the details since President Trump is committed to making this selection process as non-transparent as possible.

There’s an additional $50 billion that’s to be dedicated to the airline industry, $25 billion of which will be in direct grants to airlines that don’t place employees on involuntary furlough or discontinue flight service at airports through September. Right after the bill passed, the airline industry announced that more workforce cuts are ahead (once it gets the money). Another $17 billion is meant for “businesses critical to maintaining national security,” one of which could eventually be White House darling Boeing. There’s also a corporate tax credit worth about $290 billion to corporations that keep people on their payrolls and can prove losses of 50% of their pre-coronavirus revenue. More than $370 billion of that congressional relief package will go into Small Business Administration loans meant to cover existing loans and operating and payroll costs as well.

Yet receiving such loans will involve a byzantine process for desperate small outfits. Meanwhile, the big banks will get a cut for administering them. About $150 billion is pegged for the healthcare industry, including $100 billion in grants to hospitals working on the frontlines of the coronavirus crisis and other funds to jumpstart the production of desperately needed (and long overdue) medical products for doctors, nurses, and pandemic patients. Another $27 billion is being allocated for vaccines and stockpiles of medical supplies. An extra $150 billion will go to cities and states to prop up budgets already over-stretched and in trouble. Those on unemployment benefits will get an increase of $600 per week for four months in a $260 billion unemployment expansion.

Ultimately, however, the relief promised will not cover the basic needs of the majority of bereft Americans. With Main Street’s economy sinking right now, it won’t arrive fast enough either.

Read more …

The overwhelming need for crazy theories…

Money Minus Value, No Limit (Kunstler)

[..] an interesting debate rages internationally as to whether the Covid-19 virus was some kind of engineered event designed to bring about various political outcomes. One thread declares that the Democratic Party, its media handmaidens, and a helpful Chinese leadership used the virus to blow up the US economy and finally, after several botched attempts, get rid of the vexing Mr. Trump. It’s a tidy story, but I don’t buy it, for the simple reason that the entire global economy has blown up, including China’s, so you can file that meme in the Wile E. Coyote folder. A gloss on that one is the idea that NIAID director Anthony Fauci and other medical experts are wicked conspirators bent on destroying American morale by overstating the threat of Covid-19.

This includes the phrase that the novel corona virus is “just another seasonal flu,” and so ordering people to stay away from work and business was unnecessary. Again, you’d have to ask yourself why medical experts and other plausibly intelligent people in so many other countries would do exactly the same thing. They can’t all be orcs. Then there’s the one that has Bill Gates so worked up about climate change that he’s using his foundation’s deep resources to reduce the world’s population by sowing maximum disorder onto the scene with Covid-19 hysteria. This one casts Mr. Gates as something like a villain from a James Bond movie, deep in his Seattle mega-fortress petting a Persian cat as millions perish. Sounds like another case of Americans confusing movies with real life.

Another story has a shadowy gang of “globalists” using the disorder spawned by the virus to impose a centralized global uber-government run by international financiers. First of all, that one smacks of the hoary conspiracy theory that Bilderberger bankers (Jews especially) are scheming to take over the world – yet these supposedly hyper-clever “puppet-masters” are proving that they can’t even run the banks and their own financial ops, which are now crashing down around their ears along with everybody else’s. Thirdly, if there is trend anywhere in this collapse scenario, it is for the devolution of power downward, away from floundering centralized power structures and institutions. As they flounder, the faith of their subject peoples ebbs away and the trust horizon shrinks so that the people are no longer willing to depend on distant authorities for anything.

Read more …

Judicial Watch FOIA.

State Dep’t Refuses To Back Hillary Clinton Attempt To Avoid Deposition (JTN)

The State Department on Monday rejected Hillary Clinton’s effort to avoid depositions for herself and her former chief of staff in a lawsuit brought by the government watchdog organization Judicial Watch. The former Secretary of State and her former top aide Cheryl Mills are seeking a writ of mandamus to avoid a judge’s order requiring their testimony in an open records case involving Clinton’s use of a private email server for government business. “The government did not seek and thus does not support the extraordinary relief of mandamus due to the unique circumstances of this case,” reads the State Department’s response signed by multiple members of the Justice Department.


“One aspect of the district court’s rulings, although not central to the pending petition, is of particular concern to the government: assertions that the government acted in bad faith in litigating this FOIA request are wholly without basis,” the Department’s response says. U.S. District Court Judge Royce C. Lamberth in early March granted the request to depose Clinton about why she utilized a private email server, her grasp of “State’s records management obligations,” and any information she has about materials pertaining to the 2012 Benghazi attack.

Read more …

Can you report on the OPCW without citing the multiple whistleblowers from within its own organization? If you’re the Guardian, you can. You just call it a “supposed whistleblower controversy” and blame it all on RussiaRussia and conspiracy theories:

“… the supposed whistleblower controversy at the OPCW last year, which the organisation comprehensively rejected with an official inquiry. Even though the criticism was found to be baseless it does not stop the conspiracy theorists.”

There was nothing “supposed” about the people who came forward to prove the attacks had been staged.

The OPCW, like the WHO, has turned into a political instrument. As of course the Guardian has.

OPCW Report Set To Blame Syria Chemical Attacks On Assad (G.)

The UN’s chemical weapons watchdog is expected to release its first report explicitly blaming Bashar al-Assad for sarin and chlorine gas attacks on civilians in Syria as efforts to establish accountability for the use of chemical agents in the nine-year-old conflict gain momentum. Observers anticipate that public and classified versions of a report by a new unit at the Organisation for the Prohibition of Chemical Weapons (OPCW) will be published on Wednesday, close to the anniversaries of a major chlorine attack on the then rebel-held Damascus suburb of Douma that killed at least 85 people in 2018 as well as a deadly sarin attack on Khan Sheikhun in 2017 which killed at least 89. The report is believed to focus on 2017 attacks on the village of al-Lataminah.


The investigation is the outcome of new powers granted to the OPCW by a 2018 UN resolution specifically calling for the watchdog to “put in place arrangements to identify the perpetrators of the use of chemical weapons in the Syrian Arab Republic by identifying and reporting on all information potentially relevant to the origin of those chemical weapons”. Previously, OPCW fact-finding missions did not have the mandate to apportion blame in chemical weapons attacks. The resulting newly created investigation and identification team (IIT) at the OPCW was designed as a work-around to counter Russia, Syria’s closest political ally. Moscow has repeatedly used international forums – and its veto as a permanent member of the UN security council – to block independent investigations into chemical weapons attacks allegedly launched by the Assad regime.

Read more …

 

It must be possible to run the Automatic Earth on people’s kind donations. These are no longer the times when ads pay for all you read, your donations have become an integral part of the process.

Thanks everyone for your generous donations.

 

 

 

 

A bit of relief in Italy:

 

 

 

While Greece appears to be doing very well compared to Holland, Belgium, Portugal.

 

 

 

Support the Automatic Earth in virustime. It’s good for your health.

 

Apr 062020
 


John M. Fox WCBS studios, 49 East 52nd Street, NYC 1948

 

Coronavirus Has Lit The Fuse On A Time Bomb In China’s Economy (SCMP)
Consider the Possibility That Trump Is Right About China (Schadlow)
Head Of WHO Accused Of Putting Lives At Risk By Parroting China’s Lies (DM)
China Owes US £351 Billion (DM)
It Started In China, But Europe Is The Hub For Global Coronavirus Spread (IC)
Japan To Declare State Of Emergency On April 7 (ZH)
Tracking Site Suggests White House Model Overestimates Hospitalizations (JTN)
Illinois Adjusts On The Fly To Meet Medical Supply Needs In ‘Wild West’ (CST)
Mexico’s President Has ‘Unorthodox’ Coronavirus Plan To Help Economy, Poor (R.)
Bailing Out the Bailout (Matt Taibbi)
Boris Johnson Received Oxygen Treatment After Being Admitted To Hospital (BI)
Dr.Zelenko Has Now Treated 699 Coronavirus Patients With 100% Success (TSU)
COVID-19 Attacks The 1-Beta Chain of Hemoglobin (Chemrxiv)

 

 

Are things actually calming down a little? Seems much too early to say. Some countries may apprear to be slowing down, but others have just started.

And perhaps some numbers have been exaggerated, but we all know many numbers have been lowballed for a long time too.

If the US has less than 3,000 deaths in 10 days, then maybe.

 

 

Cases 1,282,383 (+ 67,896 from yesterday’s 1214487)

Deaths 70,183 (+ 4,578 from yesterday’s 65605)

 

 

 

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

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 21% !

 

 

From SCMP:

 

 

From COVID2019Info.live:

 

 

 

 

Someone called it the end of the Asian century.

Coronavirus Has Lit The Fuse On A Time Bomb In China’s Economy (SCMP)

The coronavirus outbreak has already taken a great toll on the Chinese economy, with all headline readings pointing towards a record slowdown in growth during the first two months of the year. But there is an even greater danger for what was once the world’s fastest-growing major economy: that Covid-19 will become the catalyst that will bring its many long-simmering problems to the boil. At the centre of these problems is a rising systemic risk in its banking and financial systems caused by a high level of debt accrued over the past decade. The outbreak could not have occurred at a worse time. The past 10 years have not only seen the economy saddled with this debt, but it has also involved a steady structural slowdown that last year saw the growth rate fall to 6.1 per cent, the lowest in decades.


Now, just at the very time the country might consider spending more to prop up that growth rate, a raging pandemic means it will be making much less money than usual. The latest data from the Chinese Ministry of Finance shows fiscal revenue plunged by 9.9 per cent in the January-February period, the steepest drop since 2009. Overall tax revenue fell 11.2 per cent, driven by a 19 per cent slump in value-added tax (VAT) revenue, the main source of fiscal income. These drops come just as the government has offered a handsome tax cut in response to the pandemic. Meanwhile, the escalation of the pandemic in the rest of the world will only further weigh on China’s economic growth, corporate profits and personal income. In turn, this will inevitably drag down government revenue in months to come.

Beijing’s proposed stimulus spending will only exacerbate China’s already-massive debt pile, which had reached 310 per cent of gross domestic product by the end of last year, according to the Institute of International Finance. Many economies that have experienced such levels of debt have gone on to suffer a financial crash or economic crisis. China now accounts for about 60 per cent of the US$72.5 trillion emerging market debt. A deleveraging campaign had reduced Beijing’s debt mountain in 2018. But it has since returned to credit-driven stimulus to support growth and combat the effects of its trade war with the United States. About 80 per cent of China’s debt stock was accumulated over the past decade as the country strived to achieve the politically significant milestone of doubling its economic sizefrom 2010 to 2020. The milestone was a key goal in President Xi Jinping’s Chinese dream of “national rejuvenation”.


While the coronavirus threat has receded in China itself, any hope of an early recovery is forlorn as Covid-19 is still ripping through the major developed economies – essentially, China’s customers and trade partners. Plunging demand from abroad will create a second shock wave that will hit China’s export-oriented economy just as it is recovering from the first shock of having to lock down its cities. China’s balance sheet will be hit by both dwindling revenue and a spiralling demand for spending. Rising corporate debt, surging local government borrowings, and soaring non-performing loans for commercial banks are three areas that could wreck its fragile financial and banking systems. The non-financial corporate debt-to-GDP ratio jumped from 93 per cent in 2009 to 153 per cent last year [..]

Read more …

Nadia Schadlow is a former deputy national-security adviser for strategy.

Consider the Possibility That Trump Is Right About China (Schadlow)

China, America’s most powerful rival, has played a particularly harmful role in the current crisis, which began on its soil. Initially, that country’s lack of transparency prevented prompt action that might have contained the virus. In Wuhan, the epicenter of the outbreak, Chinese officials initially punished citizens for “spreading rumors” about the disease. The lab in Shanghai that first published the genome of the virus on open platforms was shut down the next day for “rectification,” as the Hong Kong-based South China Morning Post reported in February. Apparently at the behest of officials at the Wuhan health commission, news reports indicate, visiting teams of experts from elsewhere in China were prevented from speaking freely to doctors in the infectious-disease wards.

Some experts had suspected human-to-human transmission, but their inquiries were rebuffed. “They didn’t tell us the truth,” one team member said of the local authorities, “and from what we now know of the real situation then, they were lying” to us. Now China’s propagandists are competing to create a narrative that obscures the origins of the crisis and that blames the United States for the virus.

This irresponsible behavior and lack of transparency revealed what Trump’s National Security Strategy had identified early on: that “contrary to our hopes, China expanded its power at the expense of others.” Instead of becoming a “responsible stakeholder”—a term George W. Bush’s administration used to describe the role it hoped Beijing would play following China’s entry into the World Trade Organization in 2001—the Chinese Communist Party used the advantages of WTO membership to advance a political and economic system at odds with America’s free and open society. Previous National Security Strategy documents had tiptoed around China’s adversarial conduct, as if calling out that country as a competitor—as the 2017 document unequivocally did—was somehow impolite.


[..] Dependence on China for crucial medical equipment throughout the pandemic has illuminated the dangers of a hyper-globalized economy. Experts had warned of American dependence on key drug ingredients from China. The Wall Street Journal has reported that China is the only maker of key ingredients for certain classes of drugs, including established antibiotics that treat a range of bacterial infections such as pneumonia. American reliance on Chinese suppliers for other pharmaceuticals and medical supplies is also worrisome. Americans should not depend on an authoritarian rival state for its citizens’ health—any more than the United States and other free and open societies should give Chinese companies, and by extension the Chinese Communist Party, control over communications infrastructure and sensitive personal data.

Read more …

The Daily Mail does not take prisoners.

“The British and US governments fund about a quarter of WHO’s $2.2 billion annual budget, while China gave $44.3 million last year.”

Head Of WHO Accused Of Putting Lives At Risk By Parroting China’s Lies (DM)

It seems the new virus first began appearing in Wuhan last November to the bafflement of local doctors. On December 31, China reported a cluster of pneumonia-like cases to the WHO. On the same day, Taiwan tipped off the Geneva-based body that it had learned of medical staff in China falling ill – a clear sign of human-to-human transmission. Yet it said the information was not shared since the nation is excluded from a key WHO platform. Chen Chien-jen, Taiwan’s vice-president and an epidemiologist, said the WHO’s failure to obtain first-hand information on human transmission led to crucial delay. ‘An opportunity to raise the alert level both in China and the wider world was lost.’

The WHO confirms receiving an email mentioning ‘news reports of atypical pneumonia reported in Wuhan, and that Wuhan authorities said they believed it was not SARS’ but denies there was any mention of medical staff falling ill. There are suggestions Chinese authorities knew of human-to-human transmissions early in January, even as they detained doctors desperately trying to warn about a potential epidemic and accused them of spreading false ‘rumours’. Taiwan sent its own team to Wuhan in mid-January after failing to obtain clarification through official channels, which confirmed human transmission. There have also been credible claims on Chinese social media, repeated by online news reports, that an infected disease specialist in Wuhan alerted a senior WHO official in Asia because they had trained together and remained friends.

On January 11, a Chinese government respiratory expert who initially said the virus was ‘under control’ admitted he might have been infected in Wuhan. Media reports show medical staff were being treated in hospital for symptoms by January 15. Yet on January 14, the WHO confidently told the world that ‘the Chinese authorities have found no clear evidence of human-to-human transmission of the novel coronavirus identified in Wuhan’. It seems the new virus first began appearing in Wuhan last November to the bafflement of local doctors. On December 31, China reported a cluster of pneumonia-like cases to the WHO. On the same day, Taiwan tipped off the Geneva-based body that it had learned of medical staff in China falling ill – a clear sign of human-to-human transmission.

Yet it said the information was not shared since the nation is excluded from a key WHO platform. Chen Chien-jen, Taiwan’s vice-president and an epidemiologist, said the WHO’s failure to obtain first-hand information on human transmission led to crucial delay. ‘An opportunity to raise the alert level both in China and the wider world was lost.’ The WHO confirms receiving an email mentioning ‘news reports of atypical pneumonia reported in Wuhan, and that Wuhan authorities said they believed it was not SARS’ but denies there was any mention of medical staff falling ill. There are suggestions Chinese authorities knew of human-to-human transmissions early in January, even as they detained doctors desperately trying to warn about a potential epidemic and accused them of spreading false ‘rumours’.

Taiwan sent its own team to Wuhan in mid-January after failing to obtain clarification through official channels, which confirmed human transmission. There have also been credible claims on Chinese social media, repeated by online news reports, that an infected disease specialist in Wuhan alerted a senior WHO official in Asia because they had trained together and remained friends. On January 11, a Chinese government respiratory expert who initially said the virus was ‘under control’ admitted he might have been infected in Wuhan. Media reports show medical staff were being treated in hospital for symptoms by January 15. Yet on January 14, the WHO confidently told the world that ‘the Chinese authorities have found no clear evidence of human-to-human transmission of the novel coronavirus identified in Wuhan’.

Read more …

More Daily Mail. Because it’s a quiet Monday morning.

China Owes US £351 Billion (DM)

Britain should pursue the Chinese government through international courts for £351 billion in coronavirus compensation, a major study into the crisis has concluded. It comes as 15 senior Tories led by former Deputy Prime Minister Damian Green write to Boris Johnson to demand a ‘rethink and a reset’ in relations with Beijing. The first comprehensive investigation into the global economic impact of the outbreak concludes that the G7 group of the world’s leading economies have been hit by a £3.2 trillion bill that could have been avoided if the Chinese Communist Party had been open and honest about the outbreak late last year.

Britain’s slice of the compensation sum includes the full cost of Chancellor Rishi Sunak’s economic bailout and hike in NHS spending in response to the crisis. The landmark study also directly highlights crunch British policy decisions made earlier this year – such as not cancelling flights from London to Wuhan in January – that were hampered or directly affected by misinformation from China and the acquiescent World Health Organisation. The report, to be published tomorrow by the Henry Jackson Society, a British foreign policy think-tank, says there is evidence that China directly breached international healthcare treaty responsibilities, and outlines ten legal avenues major nations could take to pursue damages from them.


It is titled ‘Coronavirus Compensation: Assessing China’s potential culpability and avenues of legal response’ and concludes: ‘The CCP (Chinese Communist Party) sought to conceal bad news at the top, and to conceal bad news from the outside world. Now China has responded by deploying an advanced and sophisticated disinformation campaign to convince the world that it is not to blame for the crisis, and that instead the world should be grateful for all that China is doing. ‘The truth is that China is responsible for Covid-19 – and if legal claims were brought against Beijing they could amount to trillions of pounds.’ Legal avenues include bringing a case at the Permanent Court of Arbitration at The Hague against China for breaking sanitary commitments, going to the UN and International Court of Justice, or the WTO.

Read more …

Europe was very late. Maybe Americans should take note.

It Started In China, But Europe Is The Hub For Global Coronavirus Spread (IC)

When the coronavirus began to spread, Mongolia took sensible precautions. It halted border crossings from China, with which it shares a 2,877-mile border. Mongolia also imposed travel bans on people from South Korea and Japan, the other epicenters of the pandemic at the time. Yet the virus nonetheless found its way to Mongolia, where the first infected person — known as the “index case” — was a Frenchman who had come to the country from France via Moscow. The story is the same for many other countries that became part of the pandemic due to infected people carrying it from Europe. South Africa’s first coronavirus cases had gone to northern Italy for a skiing trip. South America’s first case was a Brazilian who had traveled to Italy’s Lombardy region, and Bangladesh’s first cases were Bangladeshis who had also come from Italy.


Panama’s index case was imported from Spain, and Nigeria’s first experience with coronavirus was an Italian business traveler. Jordan’s was imported from Italy. As Covid-19 cripples the U.S. and ravages many countries in the world, politicians are battling to craft a narrative of who is to blame for its damage. The virus started in China, of course, but narratives of how it went from epidemic to global pandemic often leave out a crucial element: the role of Europe. European countries have been hit much harder than Asian nations and have spread the virus significantly more than other regions. The Intercept went through news reports of Covid-19 index cases across the world, and the results were startling. Travel from and within Europe preceded the first coronavirus cases in at least 93 countries across all five continents, accounting for more than half of the world’s index cases.

Travel from Italy alone preceded index cases in at least 46 countries, compared to 27 countries associated with travel from China. One of the reasons European travel facilitated the spread of the coronavirus was because those countries were late to close air links. Italy closed one terminal of Milan’s main airport on March 16, when the northern region of Lombardy already had 3,760 cases in a population of 10 million people. By contrast, China had shut down flights out of Hubei province on January 23, when there were 500 reported cases worldwide and 17 deaths in Hubei among a population of 58 million. London’s Heathrow and Paris’s Charles De Gaulle airports are still open as cases soar in both of those cities, while Spain’s air operators only closed major terminals in Madrid and Barcelona when air traffic had ground to a halt anyway.

Read more …

Any state of emergency that doesn’t start the moment it’s announced is suspicious. Why not next week, month?

Japan To Declare State Of Emergency On April 7 (ZH)

Japan’s Prime Minister Shinzo Abe has decided to declare a coronavirus emergency, according to the Nikkei, as new cases in the capital surged at a record pace. And while the Japanese publication notes that the government will hold an unofficial meeting of a panel of experts and start preparing for the declaration, Kyodo reported moments ago that Japan will declare a state of emergency on April 7, which would take effect on April 8. An emergency declaration gives governors in the areas covered formal powers, such as issuing requests that people stay home; Tokyo and surrounding areas, as well as Osaka, are expected to be affected by the declaration.

Abe has been criticized for not having already declared an emergency – a hesitance thought by many to stem from a strong desire to hold the Olympics this summer in Tokyo as originally planned. The International Olympic Committee decided in late March to postpone the games to 2021 after consulting with the prime minister and others. And yet, a conflict is set to emerge almost instantly because Japan’s constitution does not permit the government to demand that individuals stay home, owing to civil liberties concerns. Is Japan – which already buys billions in stocks just to avoid a market crash and preserve social order – about to also have a constituational crisis?


In any case, we find it strange that there were almost “no cases” in the weeks leading up to Japan’s reluctant decision to postpone this year’s Olympics, only to see a sudden record surge afterwards as Japan’s cases “mysteriously” soared, demonstrating once again that the coronavirus – or rather the tracking of its case and death toll – is first and foremost a political priority. Abe met with parties including Health Minister Katsunobu Kato and Yasutoshi Nishimura, the economic and fiscal policy minister, on Sunday to discuss the spread of infections. “If necessary, we will decide [to declare an emergency] without hesitation,” said Nishimura, who heads the government’s coronavirus response, on a show of public broadcaster NHK on Sunday. “We are looking for signs of an overshoot,” he said, referring to an explosion in cases, and noted that the atmosphere has grown extremely tense.

Read more …

After going through model after model to make accouncements and set policy, Fauci says: “disease models “don’t tell you anything. You can’t really rely upon models..”

Tracking Site Suggests White House Model Overestimates Hospitalizations (JTN)

A web site that tracks actual hospital beds in use suggests the model used by top White House health officials to project the trajectory of the coronavirus has so far overestimated the number of Americans hospitalized by the disease by tens of thousands. Those projections, popularly known as the “Murray” model after the model’s lead author, University of Washington professor Christopher Murray, were explicitly cited by Dr. Deborah Birx, the response coordinator for the White House’s Coronavirus Task Force, at a press conference in the last week. Birx told reporters that Murray’s model, which predicts a shortage of tens of thousands of hospital beds throughout the country by the middle of April, underscored the task force’s “concern that we had with the growing number of potential fatalities” based on the model’s projections.

Yet a comparison of actual hospitalized patients by state and nationally suggests the model has so far overestimated the number of beds needed to treat pandemic patients. The forecast predicted, for example, that the United States would need around 164,750 hospital beds for COVID-19 patients on Saturday. Yet the COVID Tracking Project, a team of journalists and data analysts who collect and tabulate coronavirus data from state tallies around the country, reported only around 22,158 currently hospitalized coronavirus patients nationwide on Saturday. The discrepancies are also stark when looked at on a state-by-state basis. The model estimated that 65,434 patients would need hospital beds in New York State on Friday. In reality, there were 15,905 hospitalizations in that state by Sunday morning, according to the COVID Tracking Project.

Notably, the model touts its predictions as occurring under “full social distancing” through May of this year, meaning the projected hospitalizations are meant to occur even with significant quarantine measures. It is unclear why the model’s numbers are so significantly higher than the actual numbers observed in hospitals across the country. Officials have offered explanations for various model fluctuations ranging from data assumptions to the impact of stay-at-home orders. [..] at a White House press conference on Saturday, Birx said that coronavirus modelers are “re-evaluating all of their models in light of the level of the impact of the mitigation.” “Just to be clear, we won’t know how valid the models are until we move all the way through the epidemic,” she said.


Dr. Anthony Fauci, meanwhile, reportedly said during a recent meeting that disease models “don’t tell you anything. You can’t really rely upon models.” Fauci has elsewhere indicated a preference for overestimating the possible effect of the coronavirus pandemic in the United States, telling reporters in March: “I think we should be overly aggressive and get criticized for overreacting.”

https://twitter.com/AndyGrewal/status/1247010974974054406

Read more …

The entire west is wild. Most organizational models are horror material. No money in them, no political gain.

Illinois Adjusts On The Fly To Meet Medical Supply Needs In ‘Wild West’ (CST)

In a state where the government usually operates on the basis of buy now, pay later (often much, much later), the emergency of the coronavirus pandemic has required a decidedly different approach. About two weeks ago, Illinois officials tracked down a supply of 1.5 million potentially life-saving N95 respirator masks in China through a middleman in the Chicago area and negotiated a deal to buy them. One day before they were expecting to complete the purchase, they got a call in the morning from the supplier informing them he had to get a check to the bank by 2 p.m. that day, or the deal was off. Other bidders had surfaced.

Realizing there was no way the supplier could get to Springfield and back by the deadline, Illinois assistant comptroller Ellen Andres jumped in her car and raced north on I-55 with a check for $3,469,600. From the other end, Jeffrey Polen, president of The Moving Concierge in Lemont, drove south. Polen isn’t in the medical supply business, but he “knows a guy,” an old friend who specializes in working with China’s factories. As they drove, Andres and Polen arranged to meet in the parking lot of a McDonald’s restaurant just off the interstate in Dwight. They made the handoff there. Polen made it back to his bank with 20 minutes to spare. Illinois already has received part of the mask shipment. There’s more on the way.

That’s just a taste of the “Wild West” world of emergency procurement taking place over the past several weeks as the state fights for equipment and supplies to protect frontline workers and patients in the battle against COVID-19. Most of that work is being performed by Gov. J.B. Pritzker’s administration through a rapid-procurement strike team, pulling together procurement specialists from around state government under the auspices of the Illinois Emergency Management Agency. [..] They’re all looking for what we have come to know as PPE or personal protective equipment — masks, gloves, gowns and face shields — plus coronavirus testing kits and swabs and, most prized of all, ventilators to help those most seriously ill keep breathing.


There’s a separate team working just on ventilators, said Deputy Governor Christian Mitchell, who is overseeing the procurement efforts for Pritzker. When they find what they need, they have to move immediately to complete the purchase before losing out to another bidder — even as the competition causes prices to jump to levels that would have been ridiculous just a month ago.

Read more …

Not everybody had endless pockets. PEMEX must be hurting something bad.

Mexico’s President Has ‘Unorthodox’ Coronavirus Plan To Help Economy, Poor (R.)

Mexico’s president unveiled a plan on Sunday to lift the economy out of the coronavirus crisis, vowing to help the poor and create jobs, but his promise of fiscal discipline sparked criticism that the measures fell far short of what was needed. President Andres Manuel Lopez Obrador pledged Mexico would create 2 million new jobs in the next nine months and boost small business and housing loans. He also vowed to tighten public sector austerity to avoid debt. Governments worldwide have unleashed unprecedented spending pledges to minimise damage to their economies from the coronavirus, including a $2-trillion package by Mexico’s top trading partner, the United States.

But Mexico’s leftist leader, targeting measures for the “most vulnerable”, said he would use a budget stabilization fund and cash from public trusts to fund plans to shield the poor from a slump economists expect to be severe. “This crisis is temporary, transitory,” Lopez Obrador said in a televised speech. “Normality will return soon. We will defeat the coronavirus, we will reactivate the economy.” Last week, Lopez Obrador said about $10 billion was available from various rainy day funds, while the finance ministry said “buffers” for the economy included a stabilization fund of about $6.6 billion available from the end of 2019.


Known by his initials “AMLO”, the president said Mexico would announced next week investments in the energy sector worth 339 billion pesos ($13.5 billion) to boost the economy, which some private analysts forecast to contract by up to 10% in 2020. That sum is far less than $92 billion in energy investments the private sector has proposed to the president.

Read more …

“The coronavirus emergency is probably temporary. The bailout looks like forever.”

Bailing Out the Bailout (Matt Taibbi)

Congress needed a year of intense infighting to approve a $4.7 trillion budget, but just a single week to draft this $2 trillion deal. Although members quibbled over numbers before the vote — Bernie Sanders insisted on more unemployment insurance, while others worried about creating a “slush fund” for airlines and other industries — the bill ultimately cruised through, passing in a voice vote in the House and 96-0 in the Senate. The Emergency Economic Stabilization Act of 2008, the only comparable “We need a gazillion dollars in 10 minutes” legislation in recent history, passed after a bitter battle, with 63 House Democrats and 91 House Republicans opposing. Analysts and politicians insisted the new bailout, in the broad strokes, was uncontroversial, a fire hose of money for virus-ravaged hospitals, workers, and small businesses.

Even critics of Wall Street agreed that this one isn’t a complete washout compared with the last disaster, when the taxpayer was asked to bail out the very people who’d caused the crisis. “At least this bailout has a Main Street component,” says Dennis Kelleher of Better Markets, a financial watchdog group. There are serious logistical questions about how money is supposed to get to Main Street — like, for instance, the use of the tiny Small Business Administration to push $377 billion in emergency loans out the door — but the larger problem has to do with the meat of the bill: the backstopping of the financial sector. As happened in the run-up to September 2008, Wall Street in recent weeks warned of Armageddon if the Fed did not immediately start spending billions per minute to buy every conceivable kind of financial product.

The Fed responded by dusting off emergency lending facilities like the Term Asset-Backed Securities Loan Facility, the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility, the Primary Dealer Credit Facility, the Secondary Market Corporate Credit Facility, and the Primary Market Corporate Credit Facility, all of which saw action after the crash of 2008. Each would be used to step in and buy financial products in the various markets frozen due to virus panic.The Fed furthermore announced that on March 23rd it would begin buying $50 billion in government-backed mortgage securities, in addition to $75 billion in Treasury bills, every day.

They’ve since lowered those numbers, but the scale of these interventions dwarfs any of the Fed’s actions post-2008. A $50 billion buying spree roughly represents as much Fed support of mortgage markets in one day as was done across a month at the peak of the last round of Quantitative Easing. Taken in conjunction with the CARES Act, the Fed and the Treasury were now positioned to become a major ongoing buyer of everything from mortgages to U.S. government debt to exchange-traded funds to corporate bonds to money-market funds.

[..] The Fed “balance sheet” as of Friday was already at $5.3 trillion, nearly $800 billion higher than its previous peak in May 2016. Wall Street analysts are predicting this number will eventually reach $10 trillion, and why not? Fed chief Jerome Powell signaled that assistance would be unlimited when he said the central bank “would not run out of ammunition.” As with 2008, the emergency support is supposed to be temporary, but there’s less belief that this is even ostensibly true this time around. There will be a lot of howling over the irony: Trump when he ran for president in 2016 said then-Fed chief Janet Yellen should be “ashamed” of creating a “false stock market” for Barack Obama. Our future will be a parody of the Yellen economy. Short-term loans to make payroll and keep tenants in storefronts are only a part of the rescue. The coronavirus emergency is probably temporary. The bailout looks like forever.

Read more …

Bad sign. Who’s going to run the country appears up for grabs.

Boris Johnson Received Oxygen Treatment After Being Admitted To Hospital (BI)

UK Prime Minister Boris Johnson will remain in hospital on Monday after being admitted for “persistent symptoms of coronavirus,” ten days after first testing positive for it. The prime minister was admitted to St Thomas’ Hospital in Westminster at 8pm on Sunday on the advice of his doctor after continuing to exhibit a high temperature. A spokesperson insisted on Sunday that Johnson’s hospital admission was not an “emergency” measure but had merely been for precautionary reasons in order to carry out tests. However the Times of London newspaper reported that the prime minister was treated with oxygen on arrival. Downing Street has repeatedly insisted that Johnson was only experiencing “mild symptoms” of the virus.


However, aides have reportedly become “increasingly worried” about the prime minister’s health in recent days, according to multiple reports, with Johnson heard “coughing and spluttering” his way through conference calls. Johnson was “more seriously ill than either he or his officials were prepared to admit,” according to the Guardian, which reported a source suggesting that Johnson “was being seen by doctors who were concerned about his breathing.” The Sun newspaper reported a Downing Street source suggesting that Johnson would remain in hospital “as long as necessary.” Asked about the prime minister’s condition on Monday the Housing Secretary Robert Jenrick told the BBC that Johnson was “still very much in charge of the government.”

Read more …

He’s down to 99.9% now. One person died who wouldn’t stick to the regimen.

Dr.Zelenko Has Now Treated 699 Coronavirus Patients With 100% Success (TSU)

Last Wednesday, we published the success story from Dr. Vladimir Zelenko, a board-certified family practitioner in New York, after he successfully treated 350 coronavirus patients with 100 percent success using a cocktail of drugs: hydroxychloroquine, in combination with azithromycin (Z-Pak), an antibiotic to treat secondary infections, and zinc sulfate. Dr. Zelenko said he saw the symptom of shortness of breath resolved within four to six hours after treatment. Hydroxychloroquine is now being used worldwide, according to a map from French Dr. Didier Raoult. In the meantime, scientists at University of Pittsburgh School of Medicine believe they’ve found potential vaccine for coronavirus.

Now, Dr. Zelenko provides updates on the treatment after he successfully treated 699 COVID-19 patients in New York. In an exclusive interview with former New York Mayor, Rudy Giuliani, Dr. Vladmir Zelenko shares the results of his latest study, which showed that out of his 699 patients treated, zero patients died, zero patients intubated, and four hospitalizations. Dr. Zelenko said the whole treatment costs only $20 over a period of 5 days with 100% success. He defines success as “Not to die.” Dr. Zelenko first posted his Facebook video message last week calling on President Trump to “advise the country that they should be taking this medication.”

There are many other success stories about hydroxychloroquine across the country. Last week, Dr. William Grace, an oncologist at Lenox Hill Hospital in New York City, said they’ve not had a single death in their hospital because of hydroxychloroquine. “Thanks to hydroxychloroquine, we have not had a death in our hospital,’ Dr. Grace said.


Also, in a study conducted by the National Institute of Health (NIH) also confirmed some of Dr. Dr. Zelenko’s findings. The study by NIH showed that Zinc supplementation decreases the morbidity of lower respiratory tract infection in pediatric patients in the developing world. A second study also conducted by NIH titled: “In Vitro Antiviral Activity and Projection of Optimized Dosing Design of Hydroxychloroquine for the Treatment of Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2),” also showed hydroxychloroquine to be more potent in killing the virus off in vitro (in the test tube and not in the body).

Read more …

One for our medical commenters. A Chinese study that suggests the virus in first instance attacks blood cells, not lungs. This could also explain why chloroquine is effective. By the way, word has it that doctors are taking hydroxychloroquine on a regular basis to protect themselves. Note: It is no use when taken either too early or too late.

@yishan on Twitter: “Virus is disrupting the hemoglobin’s oxygen capacity. It is attacking our BLOOD first, not the lungs. It is NOT a respiratory ailment (primarily), lung breakdown symptoms are a consequence of the attack on blood hemoglobins. Hypoxia is happening BEFORE lungs are affected.”

COVID-19 Attacks The 1-Beta Chain of Hemoglobin (Chemrxiv)

The novel coronavirus pneumonia (COVID-19) is an infectious acute respiratory infection caused by the novel coronavirus. The virus is a positive-strand RNA virus with high homology to bat coronavirus. In this study, conserved domain analysis, homology modeling, and molecular docking were used to compare the biological roles of certain proteins of the novel coronavirus. The results showed the ORF8 and surface glycoprotein could bind to the porphyrin, respectively. At the same time, orf1ab, ORF10, and ORF3a proteins could coordinate attack the heme on the 1-beta chain of hemoglobin to dissociate the iron to form the porphyrin. The attack will cause less and less hemoglobin that can carry oxygen and carbon dioxide.


The lung cells have extremely intense poisoning and inflammatory due to the inability to exchange carbon dioxide and oxygen frequently, which eventually results in ground-glass-like lung images. The mechanism also interfered with the normal heme anabolic pathway of the human body, is expected to result in human disease. According to the validation analysis of these finds, chloroquine could prevent orf1ab, ORF3a, and ORF10 to attack the heme to form the porphyrin, and inhibit the binding of ORF8 and surface glycoproteins to porphyrins to a certain extent, effectively relieve the symptoms of respiratory distress. Favipiravir could inhibit the envelope protein and ORF7a protein bind to porphyrin, prevent the virus from entering host cells, and catching free porphyrins. Because the novel coronavirus is dependent on porphyrins, it may originate from an ancient virus.

Read more …

 

It must be possible to run the Automatic Earth on people’s kind donations. These are no longer the times when ads pay for all you read, your donations have become an integral part of it. It has become a two-way street; and isn’t that liberating, when you think about it?

Thanks everyone for your wonderfully generous donations over the past days.

 

 

 

 

 

 

 

 

Support us in virustime. Help the Automatic Earth survive. It’s good for your health.

 

Mar 222020
 
 March 22, 2020  Posted by at 11:25 am Finance Tagged with: , , , , , , , , , , , , , , ,  44 Responses »


DPC Grand Central Station and Hotel Manhattan, NY 1906

 

Italy To Shut All Non-Strategic Business Activities Until April 3 (R.)
India Starts 14-Hour Curfew To Curb Virus Spread (R.)
FDA Approves New Coronavirus Test That Can Diagnose Within Hours (Solomon)
Most Cases In New York City Are Of People Under 50 (NBC)
38 Positive For Coronavirus In NYC Jails, Including Rikers (AP)
Britain ‘Two Or Three Weeks’ Behind Italy On Coronavirus: PM Johnson (R.)
NHS Could Be Overwhelmed Like Italy – Boris (R.)
Doctors Given New Guidelines On Choosing Which Patients To Treat (Ind.)
Airlines Appear To Come Up Short In Bid To Win Cash Grants In Rescue Package (R.)
Grocery Clerks Unlikely Heroes In US Coronavirus Fight (R.)
Banks Pressure Health Care Firms To Raise Prices On Drugs, Supplies (IC)
Russia Ready to Send 100 Specialists Including Virologists to Italy (Sp.)
The Coronavirus Did Not Escape From A Lab. Here’s How We Know. (LiveScience)

 

 

 

Cases 311,796 (+ 32,476 from yesterday’s 279,320)

Deaths 13, 071 (+ 1,481 from yesterday’s 11,587)

 

 

I dubbed it “Virus Time” myself, but even my brain has trouble comprehending what that truly is. It’s been less than two days since I wrote:

My prediction: The US has overtaken France, and will in the next few days pass Germany, Spain, and then Iran.

Less than 48 hours later, it’s done. This is what things looked like the day before I said that:

 

 

And here we are this morning:

 

 

 

Difference in timing of emergency declarations between San Francisco and Miami-Dade:

 

 

The virus still is a time machine. Project the next two weeks:

 

 

 

 

Here are the usual graphs. Note: I replaced the last one, COVID2019.app, with COVID2019Live.info, because the former keeps on closing off access.

 

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

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 12% !! –

 

 

From SCMP: (SCMP appears to have given up on timely updating)

 

 

From COVID2019Live.info: (Replacement for COVID2019.app, which -again- had their pages closed)

 

 

 

 

 

 

That’s real wartime measures. Contrast it with Germany politely asking its car manufacturers to produce medical equipment. Everyone’s waiting till the very last moment, and that’s always too late. But that’s politicians for you, and we’re not going to change that anytime soon.

Italy To Shut All Non-Strategic Business Activities Until April 3 (R.)

Prime Minister Giuseppe Conte said on Saturday that all Italian businesses must close until April 3, with the exception of those essential to maintaining the country’s supply chain, in the latest desperate effort to halt the coronavirus epidemic. Italy recorded a jump in deaths from the virus of almost 800 on Saturday, taking the toll in the world’s hardest-hit country to almost 5,000. “It is the most difficult crisis in our post-war period,” Conte said in a video posted on Facebook, adding that “only production activities deemed vital for national production will be allowed”.


Supermarkets, pharmacies, postal and banking services will remain open, Conte said, and essential public services including transport will be ensured. “We are slowing down the country’s production engine but we are not stopping it,” he said. The government is expected to publish an emergency decree on Sunday to make the latest crackdown immediately effective.

Read more …

So let them roam free for 10 hours a day, and that should solve what exactly?

India Starts 14-Hour Curfew To Curb Virus Spread (R.)

India launched a 14-hour curfew on Sunday (March 22) to limit the fast-spreading coronavirus epidemic in the country, where 315 people have so far been found to have contracted the disease. Prime Minister Narendra Modi, in an address to the nation last week, urged citizens to stay indoors from 7am to 9pm local time – a move that he said would be a crucial test for a country to assess its abilities to fight the pandemic. “Let us all be a part of this curfew, which will add tremendous strength to the fight against the Covid-19 menace,” Mr Modi tweeted minutes before the curfew commenced. “The steps we take now will help in the times to come.” Health experts said India’s cases have been growing at a rate seen during the early stages of the outbreak in other countries, which subsequently reported exponential increases in infections.


Several Indian states announced measures to curb the spread of coronavirus. Four cities in Mr Modi’s home state of Gujarat have declared a complete shutdown until Wednesday. The neighbouring desert state of Rajasthan ordered a shutdown until March 31, while eastern and central states suspended inter-state bus operations to prevent an exodus of daily wage earners from urban centres to villages. State leaders urged citizens not to rush to villages and avoid crowding trains and buses to prevent the virus spread. Tensions have mounted, however, with angry labourers protesting at some bus stations against sudden closures of basic transport services.

Read more …

Funny they don’t say who gets to be tested, and who doesn’t. Until we know, what’s the difference with today?

FDA Approves New Coronavirus Test That Can Diagnose Within Hours (Solomon)

The Food and Drug Administration announced approval Saturday for a new coronavirus test that can diagnose patients within hours, instead of days. The new rapid test, manufactured by California-based Cepheid, is expected to be in the market by March 30, officials said. “The test we’re authorizing today will be able to provide Americans with results within hours, rather than days like the existing tests,” Health and Human Services Secretary Alex Azar said. “With the development of point of care diagnostics, Americans who need tests will be able to get results faster than ever before.


“More and more options for reliable, convenient testing are becoming available at an incredibly rapid pace, thanks to the hard work of our FDA team and the ingenuity of American industry.” FDA Commissioner Stephen Hahn said the approval “marks an important step in expanding the availability of testing and, importantly, rapid results.” Hahn said because the rapid test can be administered at the point of care, it “means that results are delivered to patients in the patient care settings, like hospitals, urgent care centers and emergency rooms, instead of samples being sent to a laboratory.”

Read more …

Tell the braindead on the Florida beaches that. I was thinking: let them get infected, good riddance. But they will infect others too, and besides, shouldn’t the blame rest with Florida state for leaving the beaches open, with the stores and bars for serving them, and with the parents who send their kids into the infection pools?

Most Cases In New York City Are Of People Under 50 (NBC)

Most people who have tested positive for coronavirus in New York City are younger than 50, according to figures released by the city Saturday. This does not reflect the ages of those who have died, only people confirmed to be infected with the virus. Overall, 57 percent of those who have tested positive in the city are 49 or younger. People 18 to 49 years old make up the majority, 54 percent, the city said. The next largest group are those age 50 to 64, who account for 23 percent of positive test results so far. The accounting reflects data known to the city through 5:30 p.m. Friday. On Friday, New York City Mayor Bill de Blasio said, “We are now the epicenter of this crisis” in the United States.

Read more …

About 2.5 million people are incarcerated in the US.

38 Positive For Coronavirus In NYC Jails, Including Rikers (AP)

At least 38 people have tested positive for coronavirus in New York City jails, including at the notorious Rikers Island jail complex, the board that oversees the city’s jail system said Saturday. In a letter to criminal justice leaders, Board of Correction interim chairwoman Jacqueline Sherman wrote that at least 58 other people were currently being monitored in contagious disease and quarantine units. “It is likely these people have been in hundreds of housing areas and common areas over recent weeks and have been in close contact with many other people in custody and staff,” Sherman warned, predicting a sharp rise in the number of infections.


“The best path forward to protecting the community of people housed and working in the jails is to rapidly decrease the number of people housed and working in them.” In the past six days, she wrote, the board learned that at least 12 Department of Correction employees, five Correctional Health Services employees, and 21 inmates have tested positive for the virus. The city’s jail agency and its city-run healthcare provider did not respond to messages seeking comment on the letter. On Friday, the city’s Department of Corrections said just one inmate had been diagnosed with coronavirus, along with seven jail staff members.

Read more …

Of all the failing “world leaders”, Boris is vying for the no. 1 position. This came one day after he refused to close pubs and schools.

What triggered him is this: “UK yesterday saw total deaths reach 233. Italy was at exactly that figure on March 7th. 2 weeks behind.”

Britain ‘Two Or Three Weeks’ Behind Italy On Coronavirus: PM Johnson (R.)

Britain was only “two or three” weeks behind Italy on the spread of coronavirus, Prime Minister Boris Johnson said. In comments carried in the Sunday Telegraph and other Sunday newspapers, Johnson said Britain’s health service could be overwhelmed. “Unless we act together, unless we make the heroic and collective national effort to slow the spread – then it is all too likely that our own NHS will be similarly overwhelmed,” he said.

Read more …

Turning around on a dime with no mea culpa whatsoever should really boost people’s confidence in you.

NHS Could Be Overwhelmed Like Italy – Boris (R.)

Britain’s National Health Service (NHS) could be “overwhelmed” by the coronavirus like the Italian health system in just two weeks, Prime Minister Boris Johnson has warned. The death toll in Italy reached almost 5,000 on Saturday, while in the UK it hit 233. In comments carried in the Sunday Telegraph and other Sunday newspapers, Johnson again urged Britons to stay at home to stop the spread of the virus. “Unless we act together, unless we make the heroic and collective national effort to slow the spread – then it is all too likely that our own NHS will be similarly overwhelmed,” he said. “The Italians have a superb health-care system. And yet their doctors and nurses have been completely overwhelmed by the demand,” Johnson noted.


He advised people to keep away from elderly parents on Mothering Sunday (March 22). “The single best present that we can give … is to spare them the risk of catching a very dangerous disease,” he said. Earlier, Britain urged 1.5 million people identified by the NHS as being at higher risk of severe illness if they contract coronavirus to not leave their homes to protect themselves. On Friday, Johnson effectively closed down the United Kingdom, ordering pubs, restaurants, theatres, cinemas and gyms to shut their doors to fight the virus. Stores are also starting to shut.

Read more …

Also from f#*king Boris. And I kid you not: in the corner of my eye I see a BBC show called “The Big Questions”, in which people who all sit the “correct” 10 feet or so apart, discuss the urgent issue: “Should fat-shaming be against the law?”, as their health system is set to crash. And I’m thinking: those glaciers can’t melt fast enough.

Doctors Given New Guidelines On Choosing Which Patients To Treat (Ind.)

New guidelines have been published to help doctors and nurses decide how to prioritise patients during the coronavirus pandemic. The advice from the National Institute for Health and Care Excellence (Nice) was produced amid concerns that the NHS would be overwhelmed by the demand for intensive care beds and ventilators. It follows reports from the worst-hit parts of Italy where older and sicker patients had to be rejected in favour of the younger and fitter. The three new Nice guidelines, which have been drawn up within a week rather than the usual timescale of up to two years, cover patients needing critical care, kidney dialysis and cancer treatment.


They say all patients admitted to hospital should still be assessed as usual for frailty “irrespective of Covid-19 status”. Decisions about admitting patients to critical care should consider how likely they are to recover, taking into account the likelihood of recovery “to an outcome that is acceptable to them”. Doctors are advised to discuss possible “do not resuscitate” decisions with adults who are assessed as having increased frailty, such as those who need help with outside activities or are dependent for personal care. The document says critical care treatment should be stopped “when it is no longer considered able to achieve the desired overall goals”, following a discussion with family, carers, the patient or an independent advocate.

Read more …

“If there was a meteor racing towards earth right now, they would be passing a bill to give that meteor a tax credit.”
– @jimmy_dore

Airlines Appear To Come Up Short In Bid To Win Cash Grants In Rescue Package (R.)

A last-ditch effort by the chief executives of major U.S. airlines to try to win cash grants to weather the coronavirus crisis looked to be unsuccessful, four congressional aides and airline officials said late Saturday. Airlines had made a last ditch plea urging that $29 billion of $58 billion sought in assistance for airlines be in the form of cash grants. They had offered not to make any job cuts through Aug. 31 if they won the cash and to accept restrictions on executive pay and to forgo paying dividends or stock buybacks. The CEOs of 10 U.S. passenger and cargo carriers had said in a letter that without direct cash assistance, “draconian measures” such as furloughs may be necessary.

Senate Republicans hope to unveil the text of the rescue and stimulus package Sunday that could total $1.6 trillion and is set to include $50 billion in collateralized loan and loan guarantees for passenger airlines and $8 billion for cargo carriers. Senate Democratic Leader Charles Schumer said there was still “no deal,” so it is possible the final airline provisions could change in negotiations. Senator John Thune, the Senate’s No. 2 Republican, said earlier airline grants were not winning backing “at this point, I don’t sense support for it here or with the administration. But like I said, nothing is done.”

Airlines are expected to soon turn their attention to applying for government collateralized loans and the terms the legislation will include. The initial Republican plan said the U.S. Treasury could demand stock, warrants or options as part of any airline loans. The global coronavirus outbreak has forced airlines to cancel tens of thousands of flights and resulted in massive revenue losses. On Saturday, United Airlines said it was canceling 90% of its international flights in April.

Read more …

It’s been obvious for a long time that Americans have completely lost sight of what a hero is. But even then. Pay them a decent salary, then we can talk.

The article is the picture painted for you. The reality is:

“I have been coming in sick because I’m worried that I’ll lose my job or just be punished if I call out,” said Angel Duarte, a package handler at a UPS hub in Tucson, Ariz. “I am 23, and I have no savings, and I have a 4-month-old son.“

Grocery Clerks Unlikely Heroes In US Coronavirus Fight (R.)

For Philip, a grocery store clerk, it’s not a matter of if he gets coronavirus, but when. He is among millions of supermarket employees who have been classified as critical U.S. workers at “essential businesses” that will stay open to prevent disruption in food supply. While other workers are being told to stay home to slow the spread of the coronavirus, these employees are being asked to put themselves in constant contact with the public. Coronavirus cases are beginning to appear among them. Whole Foods Market on Thursday reported a positive case in a New York City worker.

California late on Thursday issued an unprecedented statewide “stay at home order” directing the state’s 40 million residents to hunker down in their homes for the foreseeable future. Grocery stores, along with pharmacies, banks and gas stations, will remain open under the order. Working low-paying jobs, these unlikely heroes in the produce section and behind the meat counter are both terrified and gratified to be on the frontlines of the U.S. coronavirus fight. Some employers have raised wages and granted paid sick leave, but there is pressure on them to do more.

“I didn’t sign up to be in a position where I’m constantly exposed to a deadly virus, but I understand too that if grocery stores close then there are way bigger problems,” said Philip, who works in the produce section of a Whole Foods store in a southern U.S. state. Philip asked that his last name and location not be used. “I’d just like to get the virus now, and get it out of the way, so I can come back to work,” said Philip, who is in his 30s. “Everyone’s terrified there, deep down, apart from the few who think it’s not a big deal yet.”

Read more …

Words? Not me.

Banks Pressure Health Care Firms To Raise Prices On Drugs, Supplies (IC)

In recent weeks, investment bankers have pressed health care companies on the front lines of fighting the novel coronavirus, including drug firms developing experimental treatments and medical supply firms, to consider ways that they can profit from the crisis. The media has mostly focused on individuals who have taken advantage of the market for now-scarce medical and hygiene supplies to hoard masks and hand sanitizer and resell them at higher prices. But the largest voices in the health care industry stand to gain from billions of dollars in emergency spending on the pandemic, as do the bankers and investors who invest in health care companies.

Over the past few weeks, investment bankers have been candid on investor calls and during health care conferences about the opportunity to raise drug prices. In some cases, bankers received sharp rebukes from health care executives; in others, executives joked about using the attention on Covid-19 to dodge public pressure on the opioid crisis. Gilead Sciences, the company producing remdesivir, the most promising drug to treat Covid-19 symptoms, is one such firm facing investor pressure. Remdesivir is an antiviral that began development as a treatment for dengue, West Nile virus, and Zika, as well as MERS and SARS.

The World Health Organization has said there is “only one drug right now that we think may have real efficacy in treating coronavirus symptoms” — namely, remdesivir. The drug, though developed in partnership with the University of Alabama through a grant from the federal government’s National Institutes of Health, is patented by Gilead Sciences, a major pharmaceutical company based in California. The firm has faced sharp criticism in the past for its pricing practices. It previously charged $84,000 for a yearlong supply of its hepatitis C treatment, which was also developed with government research support. Remdesivir is estimated to produce a one-time revenue of $2.5 billion.

Read more …

Just days after the EU accused Russia of using the virus to spread disinformation in Europe.

Russia Ready to Send 100 Specialists Including Virologists to Italy (Sp.)

“In accordance with instructions from the Russian Defence Minister, Army Gen. Sergei Shoigu, the Russian Aerospace Forces have completed the creation of a necessary air group to deliver forces and equipment from the Russian Defence Ministry allocated to assist the Italian Republic in the fight against the coronavirus”, the statement says. The ministry added that nine Il-76 military transport aircraft with trained crews had been transferred to the Chkalovsky military airfield in the Moscow Region from the Pskov, Ulyanovsk, and Orenburg regions.


The group of about 100 people, including experienced virologists and epidemiologists, is ready to depart for Italy, the ministry said. On Saturday, Russian President Vladimir Putin told Italian Prime Minister Giuseppe Conte by phone that Moscow was ready to promptly assist Rome in the fight against the coronavirus. The defence ministry then said that Russia would send eight mobile teams of Russian military virologists and doctors, vehicles for aerosol disinfection, and medical equipment to Italy.

Read more …

For your daily group discussion,. WHich you’re not allowed to have anymore.

The Coronavirus Did Not Escape From A Lab. Here’s How We Know. (LiveScience)

As the novel coronavirus causing COVID-19 spreads across the globe, with cases surpassing 284,000 worldwide today (March 20), misinformation is spreading almost as fast. One persistent myth is that this virus, called SARS-CoV-2, was made by scientists and escaped from a lab in Wuhan, China, where the outbreak began. A new analysis of SARS-CoV-2 may finally put that latter idea to bed. A group of researchers compared the genome of this novel coronavirus with the seven other coronaviruses known to infect humans: SARS, MERS and SARS-CoV-2, which can cause severe disease; along with HKU1, NL63, OC43 and 229E, which typically cause just mild symptoms, the researchers wrote March 17 in the journal Nature Medicine. “Our analyses clearly show that SARS-CoV-2 is not a laboratory construct or a purposefully manipulated virus,” they write in the journal article.


Kristian Andersen, an associate professor of immunology and microbiology at Scripps Research, and his colleagues looked at the genetic template for the spike proteins that protrude from the surface of the virus. The coronavirus uses these spikes to grab the outer walls of its host’s cells and then enter those cells. They specifically looked at the gene sequences responsible for two key features of these spike proteins: the grabber, called the receptor-binding domain, that hooks onto host cells; and the so-called cleavage site that allows the virus to open and enter those cells. That analysis showed that the “hook” part of the spike had evolved to target a receptor on the outside of human cells called ACE2, which is involved in blood pressure regulation. It is so effective at attaching to human cells that the researchers said the spike proteins were the result of natural selection and not genetic engineering.


© Andriy Onufriyenko/Getty Images

Here’s why: SARS-CoV-2 is very closely related to the virus that causes severe acute respiratory syndrome (SARS), which fanned across the globe nearly 20 years ago. Scientists have studied how SARS-CoV differs from SARS-CoV-2 — with several key letter changes in the genetic code. Yet in computer simulations, the mutations in SARS-CoV-2 don’t seem to work very well at helping the virus bind to human cells. If scientists had deliberately engineered this virus, they wouldn’t have chosen mutations that computer models suggest won’t work. But it turns out, nature is smarter than scientists, and the novel coronavirus found a way to mutate that was better — and completely different— from anything scientists could have created, the study found.


Another nail in the “escaped from evil lab” theory? The overall molecular structure of this virus is distinct from the known coronaviruses and instead most closely resembles viruses found in bats and pangolins that had been little studied and never known to cause humans any harm. “If someone were seeking to engineer a new coronavirus as a pathogen, they would have constructed it from the backbone of a virus known to cause illness,” according to a statement from Scripps.

Read more …

 

German doctor, during plague in 14th century:

 

 

 

 

If you read us, please support us. Help the Automatic Earth survive.

 

Dec 132019
 


John Vachon Auto of migrant fruit worker at gas station, Sturgeon Bay, Wisconsin Jul 1940

 

A Very Difficult Night (Craig Murray)
Someone Interfered In The UK Election, And It Wasn’t Russia (CJ)
EU Executive Expects Mandate For Talks On Post-Brexit Trade Deal (R.)
The Japanization of the European Union (Jesús Huerta de Soto)
Fed Will Flood Market With Gargantuan $500 Billion To Avoid Repo Crisis (ZH)
Terms Of US-China ‘Phase One’ Trade Deal Will “Never Be Made Public” (ZH)
Tulsi Gabbard Takes No Prisoners In DNC Warfare (LN)
Boeing Scuttles Timeline For 737 MAX Return After CEO Meets With FAA (R.)
Qantas Selects Airbus Over Boeing For World’s Longest Flights (R.)

 

 

Most of my news feeds are focused on just one thing today: the UK elections. Not a particularly intersting issue in my view. But here goes:

Biggest winners: Not Boris Johnson, but Dominic Cummings and the Scots (including the SNP). Johnson has won nothing at all. On the other hand Cummings has again shown he can win elections, and the Scots will show they can too. Johnson will now be without Cummings, and then he is nowhere.

Biggest loser: Not Jeremy Corbyn, but Julian Assange. Had Corbyn won, Assange would be much closer to fair treatment and perhaps freedom. Those doors are closed now. Corbyn lost because Cummings used far advanced new media techniques, while Labour are still canvassing door to door like it’s 1960 or ’70. Yes, Corbyn also lost to smear, but that goes hand in hand with the media techniques. Labour has a lot of catching up to do.

 

Here’s Craig Murray from Scotland:

A Very Difficult Night (Craig Murray)

It is hard to doubt the basic accuracy of that exit poll now the Conservatives have taken the Blyth Valley. If the Conservatives sweep to power in England, then we have to move very early – and I mean within weeks – on Scottish Independence . I am extremely sorry for all my friends in England who have no such escape route from the Conservative Party. I am much more impacted by this result than I have ever been before, because it brings a still more right wing Conservative Party to untrammeled power, and because I genuinely feel the electorate which has swung are fueled by anti-immigrant racism.


I am not vehemently opposed to Brexit itself, funnily enough, but the ending of freedom of movement and single market access I view as crazed xenophobia. I am also unhappy with the campaign itself, which seemed to take media bias to new levels in ways I have documented, particularly from the BBC. We saw the same in 2014, and the entire experience has been a reminder of how difficult to fight any new independence referendum will be. If the SNP takes 50 seats in Scotland I shall be delighted. Scotland is of course a Remain area. I am for the next glass of Lagavulin clinging to the idea that Remain leaning areas in England may cause trouble for the Tories too.

Read more …

A bit very obvious by now, but it’s not about newspapers; they’re just extra.

Someone Interfered In The UK Election, And It Wasn’t Russia (CJ)

As of this writing British exit polls are indicating a landslide victory for the Tories. Numerous other factors went into this result, including most notably a Labour Party ambivalently straddling an irreconcilable divide on the issue of Brexit, but it is also undeniable that the election was affected by a political smear campaign that was entirely unprecedented in scale and vitriol in the history of western democracy. This smear campaign was driven by billionaire-controlled media outlets, along with intelligence and military agencies, as well as state media like the BBC. Labour leader Jeremy Corbyn has been described as the most smeared politician in history, and this is a fair description.

Journalist Matt Kennard recently compiled documentation of dozens of incidents in which former and current spooks and military officials collaborated with plutocratic media institutions to portray Corbyn as a threat to national security. Journalistic accountability advocates like Media Lens and Jonathan Cook have been working for years to compile evidence of the mass media’s attempts to paint Corbyn as everything from a terrorist sympathizer to a Communist to a Russian asset to an IRA supporter to a closet antisemite. Just the other day The Grayzone documented how establishment narrative manager Ben Nimmo was enlisted to unilaterally target Corbyn with a fact-free Russiagate-style conspiracy theory in the lead-up to the election, a psyop that was uncritically circulated by both right-wing outlets like The Telegraph as well as ostensibly “left”-wing outlets like The Guardian.

[..] The historically unprecedented smear campaign that was directed at Corbyn from the right, the far-right, and from within his own party had an effect. Of course it did. If you say this today on social media you’ll get a ton of comments telling you you’re wrong, telling you every vote against Labour was exclusively due to the British people not wanting to live in a Marxist dystopia, telling you it was exclusively because of Brexit, totally denying any possibility that the years of deceitful mass media narrative management that British consciousness was pummelled with day in and day out prior to the election had any impact whatsoever upon its results. Right. Sure guys. Persistent campaigns to deliberately manipulate people’s minds using mass media have no effect on their decisions at all.

Read more …

The talks to deliver Brexit will take forever and may well be Johnson’s Waterloo. Nothing about this has changed overnight. And a hard Brexit was ruled out by the Benn bill. Any attempts at going around it will end up in court again.

EU Executive Expects Mandate For Talks On Post-Brexit Trade Deal (R.)

The European Commission expect European Union leaders on Friday to grant it a mandate for talks with Britain on a future trade agreement, the head of the Commission Ursula von der Leyen told a news conference. Exit polls showed the Conservative Party of British Prime Minister Boris Johnson winning a clear majority in parliament, which European diplomats said meant there would be no more delays to Britain’s exit form the EU. “We are ready to negotiate whatever is necessary, and it will be important tomorrow to get the mandate for the steps from the council (of EU leaders),” von der Leyen said. “This will be the core of our debate tomorrow,” she said.

Read more …

Very long and detailed lecture by de Soto.

The Japanization of the European Union (Jesús Huerta de Soto)

Japan’s public debt is equal to 250 percent of its GDP. That is easy to say, but here in Europe we are criticizing Portugal and Italy, whose indebtedness is between 110 and 130 percent, and Greece, with a figure of 170 percent. That is, these countries are roughly half as indebted as Japan is at 250 percent of GDP. As for the annual deficit in the Japanese public accounts, it is not, for instance, the 3 percent established as a limit in the Eurozone nor even 4 or 5 percent. The annual deficit in the Japanese public accounts is 6 percent, while economic growth has nearly flatlined. In other words, it is a case of clear economic lethargy and very low inflation (which we will discuss later): interest rates around zero or even negative rates, inflation of 1 percent, and seemingly “full” employment (with a very high volume of hidden unemployment and ongoing losses in productivity and competitiveness).


To use a military term, Japan has already used up all its available interventionist ammunition, and not only has it not achieved anything, but the result has been counterproductive and disappointing. Everything that could be tried has been tried, and no palpable goal has been reached. And now the key question is: Why has nothing been achieved? And the answer is clear: because in all these decades, there have been no structural reforms to liberalize the economy, to liberalize the labor market, to introduce deregulation in the midst of suffocating interventionism at all levels, to lower taxes across the board, to reorganize and balance the public accounts, nor even to reduce public spending.

Read more …

Bankers screw up, Fed rescues. If we don’t cut that cycle, things can only get worse. As soon as some of this money would/could stabilize things somewhat, bankers would take more risk again.

Fed Will Flood Market With Gargantuan $500 Billion To Avoid Repo Crisis (ZH)

In previewing today’s Fed statement regarding repurchase operations, on Tuesday Curvature Securities repo expert Scott Skyrm said that he expects the Fed to announce a $50 billion (at least) term operation for Monday December 23 (double the current term ops) and a $50 billion (at least) term operation for Monday, December 30. This prediction was in response to Zoltan Pozsar’s warning that reserve levels are too low and the result would be a market crash that could spark QE4. Well, moments ago the NY Fed did publish it latest weekly “Statement Regarding Repurchase Operations” as expected laying out the Fed’s expected repo operations for the period December 13 – January 14… and it blew Skyrm’s expectations out of the water

According to the statement, the NY Fed will continue to offer two-week term repo operations twice per week, four of which span year end. In addition, the Desk will also offer another longer-maturity term repo operation that spans year end. The amount offered in this operation will be at least $50 billion, just as Skyrm expected. But there was more. Much more. In addition, to prevent a cascading year-end liquidity squeeze, Fed overnight repo operations will continue to be held each day, and just to be safe, the Fed will go to town by substantially expanding their size: On December 31, 2019 and January 2, 2020, the overnight repo offering will increase to at least $150 billion to cover the “turn” in a flood of overnight liquidity.

In addition, on December 30, 2019, the Desk will offer a $75 billion repo that settles on December 31, 2019 and matures on January 2, 2020. And just in case that’s not enough, the NY Fed’s markets desk also added that it “intends to adjust the timing and amounts of repo operations as needed to mitigate the risk of money market pressures that could adversely affect policy implementation, consistent with the directive from the FOMC.” What the Fed means is that in addition to expanding the sizes of its “turn” overnight repos to $150 billion, the Fed will conduct a total of nine term repos covering the year-end turn from Dec 16 to Jan 14, 8 of which will amount to $35BN and the first will be $50BN, for a total injection of a whopping $365 billion in the coming month.

Read more …

Well, we should see it in the tariffs announced?!

Terms Of US-China ‘Phase One’ Trade Deal Will “Never Be Made Public” (ZH)

There was much rejoicing and buying of stocks when Trump tweeted, to much fanfare and bombast early this morning, that he is “Getting VERY close to a BIG DEAL with China. They want it, and so do we!.” Sure enough, just a few hours later, there was a deal. Or was there? Because whereas we now know that the US & China have agreed to a Phase One deal on Paper, and Trump signed off on it… nobody will ever know what’s in the actual deal, even once we pass it! Here’s what we do know: according to Fox Business correspondent Edwards Lawrence, China “verbally agreed to buy $50b in agriculture, but that will not be in writing.” In fact it appears that nothing will be.

Also, the deal supposedly includes intellectual property protections, something the US has been asking for as a core demand. Needless to say, a Chinese IP concession will most certainly not be in writing too. Other parts of the deal include “increased access to the financial services market. There is language where the Chinese agree not to manipulate their currency. There is enforcement written into the agreement. Dec 15th tariffs do not go forward.” Perhaps most important for traders is that this is the end of the overnight “trade deal optimism” rally: phase two of the trade deal will “begin after 2020 elections.” Which means a whole year without Trump tweets that a deal is very close and that China is dying to do it.

Yet for all of the above, here’s the most mindboggling part. Lawrence said that the Chinese have requested that the language of the trade deal will never be made public. That’s right – there is (supposedly) a “deal”, written on paper somewhere, specifying certain terms, and signed by certain US and Chinese presidents. And nobody will ever see what that deal actually states. Effectively, the Phase One trade deal “could” be nothing more than a market manipulating blank piece of paper, and since China has only pledged to do something – which nobody will know as it is not written – and since China has not committed contractually in the court of public opinion, it will have absolutely no incentive to abide by the Phase One “deal”

Read more …

Tulsi, too, needs to focus on “new” media. It’s where people get their news.

Tulsi Gabbard Takes No Prisoners In DNC Warfare (LN)

Rep. Tulsi Gabbard (D-HI), the outspoken, independent thinker from Hawaii running for the loftiest perch in the land, has just said “no” to taking the next Democratic presidential primary debate stage. This signals either a surrender or a strategic end-run around the field. Yes, we’ve been down this road before. It is the same sentiment she expressed prior to the last debate; although she threatened to boycott the circus, she did qualify, show up, and rebuke the other candidates and the Democratic Party. Gabbard has been Public Enemy #1 in those circles since. Instead of playing into the cemented narrative, Tulsi, who has not so far reached the conditions imposed for participation in the next round, is not wasting her time.

As the sixth platform for national domination looms, Gabbard tweeted a different plan, saying: “For a number of reasons, I have decided not to attend the December 19th ‘debate’ — regardless of whether or not there are qualifying polls. I instead choose to spend that precious time directly meeting with and hearing from the people of New Hampshire and South Carolina.” Whether her bold decision is based on not quite reaching the necessary baseline requirements, or because she has had enough of the game playing, Tulsi seems indifferent to striving for inclusion. And we all know Gabbard is not one to tread water in the shallow end of the pool when a good, strong crawl will cover more territory.

[..] The DNC was insistent that its criteria for inclusion have been fair and balanced. Just ask the committee’s spokeswoman Xochitl Hinojosa, who responded: “This has been the most inclusive debate process with more women and candidates of color participating in more debates than billionaires. We are proud of this historic and diverse field with 20 candidates participating in the first two debates and at least 10 candidates in each debate after that.” What’s ironic is that no people of color – because of the strident stipulations imposed – will be at the Dec. 19 debate hosted by PBS NewsHour and Politico at the Loyola Marymount University in Los Angeles. PBS is set to broadcast the debate, and most likely, fewer people will watch the event than Gabbard can reach by holding town halls or meet and greets. Perhaps she’s on to something, after all.

Read more …

Both American and Southwest now target April.

Boeing Scuttles Timeline For 737 MAX Return After CEO Meets With FAA (R.)

Boeing on Thursday abandoned its goal of winning approval this month from the Federal Aviation Administration to unground the 737 MAX after Chief Executive Dennis Muilenburg met with senior U.S. aviation officials. The announcement came after a congressional hearing on Wednesday in which numerous lawmakers prodded the FAA to take a tougher line with Boeing as it continues to review the plane that has been grounded since March [..] FAA Administrator Steve Dickson said on Wednesday he would not clear the plane to fly before 2020 and disclosed the agency has an ongoing investigation into 737 production issues in Renton, Washington. He added there are nearly a dozen milestones that must be completed before the MAX returns to service.

Approval is not likely until at least February and could be delayed until March, U.S. officials told Reuters. Muilenburg and Boeing’s commercial airplanes chief, Stan Deal, met with Dickson and “committed to addressing all of the FAA’s questions,” the company said, adding it will work to support the agency’s “requirements and their timeline as we work to safely return the Max to service in 2020.” Dickson told Muilenburg, according to an email sent to lawmakers by the FAA, that “Boeing’s focus should be on the quality and timeliness of data submittals for FAA review. He made clear that FAA’s certification requirements must be 100% complete before return to service.”

[..] Separately, American Airlines said on Thursday it was extending cancellations of 737 MAX flights through April 6. American, the largest U.S. airline, had previously canceled about 140 flights a day through March 4 and now expects to resume 737 MAX passenger flights on April 7. Gary Kelly, the CEO of Boeing’s largest 737 MAX customer, Southwest Airlines, said he was “concerned” about what Boeing decides to do with its production line. Southwest was supposed to have 75 MAX jets in service this year and, like other airlines, it has had to cancel routes and scale back growth plans as it operates a slimmer fleet. Kelly said it is “likely” the airline will again need to push back its restart date from March.

Read more …

Losses keep piling up.

Qantas Selects Airbus Over Boeing For World’s Longest Flights (R.)

Australia’s Qantas Airways picked Airbus over Boeing as the preferred supplier for jets capable of the world’s longest commercial flights from Sydney to London, dealing the U.S. planemaker its latest setback this year. The choice of up to 12 A350-1000 planes fitted with an extra fuel tank for flights of up to 21 hours cements Airbus as the leader in ultra-long haul flying globally at a time when Boeing is battling delays on its rival 777X program and a broader corporate crisis following two deadly 737 MAX crashes. The Qantas flights would begin in the first half of 2023, but remain subject to the airline reaching a pay deal with pilots, who would need to extend their duty times to around 23 hours to account for potential delays and switch between flying the A350 and the airline’s current A330 fleet.


A final decision on an order is expected in March, the airline said on Friday. Qantas Chief Executive Alan Joyce said the airline “had a lot of confidence” in the market for non-stop services from Sydney to London and to New York based on two years of flying non-stop from Perth to London, where it has achieved a 30% fare premium over one-stop rivals in premium classes. “The A350 is a fantastic aircraft and the deal on the table with Airbus gives us the best possible combination of commercial terms, fuel efficiency, operating cost and customer experience,” he said.

Read more …

 

 

 

Please put the Automatic Earth on your Christmas charity list. Support us on Paypal and Patreon.

Top of the page, left and right sidebars. Thank you.

 

 

 

Dec 082019
 


Arthur Rothstein “Bank that failed. Kansas” May 1936

 

UK’s Johnson Ahead But Polls Suggest Majority Might Be Tough (R.)
Calls Grow To Stop Boris Johnson With Tactical Voting As Race Tightens (O.)
Patient Data From GP Surgeries Sold To US Companies (G.)
How The Democrats & Federal Reserve Ensured Trump’s Re-Election (Hamilton)
Tracking Every Presidential Candidate’s TV Ad Buys (538)
Trump: Giuliani To Deliver Report On Ukraine Trip To Congress, Barr (Hill)
Is Russia Overtaking The US In The Realm Of Strategic Bombers? (SF)
China Crude Oil Imports Hit Record High As Refiners Race To Use Up Quotas (R.)
US Government Drops Case Against Journalist Max Blumenthal (GZ)
Fire ‘Too Big To Put Out’ May Blanket Sydney In Smoke For Months (NW)

 

 

There are so many different polls with even more different results, you’d think they do it on purpose.

UK’s Johnson Ahead But Polls Suggest Majority Might Be Tough (R.)

Prime Minister Boris Johnson is heading into Britain’s election next week with a lead in opinion polls, but some of the surveys also suggest that his chance of winning a parliamentary majority could be too close to call. Four opinion polls published on Saturday put the lead of Johnson’s Conservative Party over the main opposition Labour Party at between eight and 15 points, five days before the Dec. 12 national election. At the lowest end of that range, Johnson cannot count on winning the majority in parliament he needs to take Britain out of the European Union by Jan. 31, especially if voters choose to put aside their usual allegiances to vote tactically over Brexit.

Polling firm Savanta ComRes said Johnson’s lead over Labour had shrunk to eight points from 10 in a previous poll published on Wednesday – the tightest margin of Saturday’s four surveys. Its head of politics, Chris Hopkins, said the final few days of the campaign could be crucial. “The margins are incredibly tight,” he said. “The Conservative lead over Labour dropping or increasing by one or two points could be the difference between a hung parliament and a sizeable Conservative majority.” The election pits Johnson’s plan to get Brexit done next month against Labour’s call for a second referendum on a new Brexit deal under its veteran socialist leader Jeremy Corbyn.

Opinion pollsters were embarrassed by Britain’s last election in 2017, when they under-estimated the size of Labour’s support which cost previous prime minister Theresa May her majority and threw Brexit into chaos. They also failed to predict the victory of the Leave campaign in the 2016 EU membership referendum. However, one poll, published before the 2017 election, by YouGov, was more accurate in predicting the number of seats won by each party. Known as an MRP poll – an acronym for its Multilevel Regression and Post-stratification model – it predicted 93% of results in individual constituencies correctly. The Sunday Times said a poll by Datapraxis, also using the MRP model and based on 500,000 online interviews, predicted that Johnson would win a majority of 38 in parliament next week, down from a projection of 48 two weeks ago.

https://twitter.com/i/status/1203590220173713409

Read more …

It doesn’t take that many votes.

Calls Grow To Stop Boris Johnson With Tactical Voting As Race Tightens (O.)

A cross-party alliance of opposition politicians has launched an 11th-hour appeal to anti-Tory voters to consider switching allegiance in Thursday’s general election, amid signs that a late surge of tactical voting in a few swing seats could deprive Boris Johnson of a majority in parliament. The calls from senior Labour, Liberal Democrat and SNP figures come as a major poll suggests Johnson’s likely majority has been cut in half in the last two weeks – from 82 a fortnight ago to just 40 with four days to polling day. The analysis of almost 30,000 voters, for the pro-EU Best for Britain campaign, also finds that tactical votes by as few as 40,700 people in 36 key seats could prevent Johnson from forming a majority government.

Without a majority, Johnson is unlikely to be able to deliver the central promise of the Tory campaign – “to get Brexit done” – as he will struggle to get enough MPs’ votes. The DUP, which agreed to prop up the Tories after the 2017 general election, is now fiercely opposed to Johnson’s Brexit deal. The special polling analysis concludes that if tactical voting keeps the Tories out in the three dozen seats, the Conservatives would have 309 MPs, Labour 255, the SNP 49, the Lib Dems 14, Plaid Cymru three and the Greens one. To guarantee a majority, a governing party needs 325 MPs.

Naomi Smith, Best for Britain’s chief executive, said: “This election is on a knife-edge, and, if enough Remainers hold their nose and vote for the candidate with the best chance of stopping the Tories, we’re heading for a hung Parliament and a final-say referendum.”

Read more …

Not sure this is the scandal it’s made out to be, but transparency is key.

Patient Data From GP Surgeries Sold To US Companies (G.)

Data about millions of NHS patients has been sold to US and other international pharmaceutical companies for research, the Observer has learned, raising new fears about America’s growing ambitions to access lucrative parts of the health service after Brexit. US drugs giants, including Merck, Bristol-Myers Squibb and Eli Lilly, have paid the Department of Health and Social Care, which holds data derived from GPs’ surgeries, for licences costing up to £330,000 each in return for anonymised data to be used for research. Campaigners working to protect the privacy of patients’ medical histories said they were concerned at the lack of transparency that surrounded the sale of licences and a lack of clarity about what the data was being used for.

The most recent accounts of the government organisation that issues the licences, Clinical Practice Research Datalink or CPRD, reveal it received more than £10m in revenue last year. “Patients should know how their data is used. There should be no surprises. While legitimate research for public health benefit is to be encouraged, it must always be consensual, safe and properly transparent,” said Phil Booth, coordinator of medConfidential, which campaigns for the privacy of health data. “Do patients know – have they even been told by the one in seven GP practices across England that pass on their clinical details – that their medical histories are being sold to multinational pharma companies in the US and around the world?”

[..] Last week, a leak of secret government papers about private discussions between UK and US officials over a post-Brexit trade deal showed that the “free flow of data” was a “top priority” for the US. America appears to be pressing for unrestricted access to Britain’s 55 million health records, which are estimated to have a total value of £10bn a year. A minute of one of the meetings says: “On data flows, the critical element highlighted by the US was agreement that no parties will restrict information.” Another US demand is for “data localisation” to be ruled out, meaning the data of NHS patients could be stored on cloud servers abroad.

Read more …

That and demographics. Much more from Hamilton and as usual, tons of graphs.

How The Democrats & Federal Reserve Ensured Trump’s Re-Election (Hamilton)

July 31…Debt Ceiling Deal – July 31st of this year, Senate Democrats carried President Trump’s budget deal eliminating the debt ceiling through July 31st of 2021. This after a majority of Trump’s House Republicans voted against the budget deal but House Democrats overwhelmingly passed it. And thus the debt ceiling was no more. Since July 31st, the Treasury has issued over $1 trillion in net new debt but that is just the start. Trump tweeted there would always be plenty of time to make budget cuts “later”.

July 31…Federal Reserve begins series of interest rate cuts – On July 31st, the Federal Reserve begins cutting rates and has cut rates from 2.4% to 1.55% or a 35% reduction on the cost of overnight intra-bank lending, the foundation of credit.

August 21.. Federal Reserve restarts QE – In August, the Fed ceased quantitative tightening (QT) and restarted quantitative easing (QE). The Federal Reserve balance sheet has expanded by over $300 billion in short order, with an $180 billion increase in Treasuries held. The supposed rationale for the QE restart, inadequate excess reserves or liquidity…

Excess Reserves Not Restarted – With all the new QE, hardly any of it has been added to bank excess reserves…just a paltry $16 billion out of the $306 billion in new currency digitally conjured.

Direct Monetization – That is $290 billion in new dollars directly in banks hands…and banks do what banks do, which is leverage those dollars by 5x’s to 10x’s (or more), resulting in…

Asset Explosion – Using the Wilshire 5000 as a proxy (as it represents all publicly traded US equities), US equities have risen $2.42 trillion over the 4 month period as all the new digitally conjured cash has been passed to large banks for the “assets” they held…or about a 8.5x the quantity of new “not QE” and “not excess reserves”.

[..] Debt creation by periods, 1960 through 2000, 2000 through 2008, and 2008 through 2019. Relatively stable corporate debt creation, collapsing mortgage debt, and surging federal debt. And collapsing mortgage debt and surging federal debt is only just getting started, because…

And finally, why mortgage debt won’t be rising anytime soon and all debt creation will be up to the federal government. The chart below shows the annual change in young (working age) versus elderly…a surging population of elderly versus huge deceleration of growth among the working age population.

Just a reminder, elderly earn and spend half as much as working age persons and “destroy money” via deleveraging while working age persons “create money” via undertaking new loans (debt). The current and future situation is one of collapsing credit and collapsing money creation as the growth of deflationary elderly overwhelms inflationary working age growth…and into that entirely predictable situation, steps the Federal government, Federal Reserve, and ludicrous politicians to serve the interests of the few at the expense of the many.

Read more …

Bloomberg.

Tracking Every Presidential Candidate’s TV Ad Buys (538)

Read more …

Wonder what he’s got.

Trump: Giuliani To Deliver Report On Ukraine Trip To Congress, Barr (Hill)

President Trump said that Rudy Giuliani, his personal attorney, will deliver a report to Congress and Attorney General William Barr about information he uncovered during his latest trip to Ukraine. “He’s going to make a report, I think to the attorney general and to Congress. He says he has a lot of good information. I have not spoken to him about that information yet,” Trump told reporters Saturday. “He has not told me what he found, but I think he wants to go before Congress … and also to the attorney general and the Department of Justice,” he added. “I hear he has found plenty.” Giuliani raised eyebrows this week when he traveled to Ukraine as the House conducts a whirlwind impeachment investigation into whether the president abused his power.


Democrats say Trump overstepped his bounds by pressuring Kyiv to investigate former Vice President Joe Biden on unfounded corruption allegations and disproven claims that Ukraine was involved in 2016 election meddling. During his trip, Giuliani met with multiple Ukrainian officials as he continued his campaign to convince American lawmakers Trump did nothing wrong. Photos from the visit showed the ex-New York City mayor meeting with a former Ukrainian diplomat who has propagated the unsubstantiated claim that Ukraine interfered in the 2016 election. He also met with Yuriy Lutsenko, a Ukrainian politician, former prosecutor general and important figure in the impeachment inquiry, who proposed a joint corruption investigation between the U.S. and Ukraine.

Read more …

Reading between the lines, what we see is America can only keep up by going to war and spending more with that as an excuse.

Is Russia Overtaking The US In The Realm Of Strategic Bombers? (SF)

In March 2018, Russia announced that it would completely overhaul its entire Tu-160 long-range strategic bomber fleet by 2030. According to Deputy Defense Minister Yuri Borisov, the entire fleet of Tu-160 bombers will be replaced with the newer Tu-160M2 version, in addition to heavy upgrades of all operational aircraft. All on-board radio-electronic equipment and engines will be replaced. Serial production of the Tu-160M2 will begin in 2023 and the plan is for it to remain a state of the art warplane for the next 40 years. The Russian Aerospace Forces intend to purchase no less than 50 such aircraft.

The first such warplane is to be delivered in 2021, with 3 more in 2023. Afterwards serial production will continue with 3 Tu-160M2s being produced per year. The Tupolev Tu-160 (NATO codename: Blackjack) is a long range, supersonic, variable geometry wing, strategic bomber -designed to penetrate sophisticated air defense systems at low altitude and supersonic speed. It is the Soviet counterpart to the US Air Force B-1B Lancer strategic bomber.

[..] Currently, the US operates three types of strategic bombers – the B-1B, the B-2, and the B-52. The US Air Force has 62 B-1Bs, out of which, according to data from August 2019, only 6 were fully operational, with the others being grounded or undergoing maintenance. They have been in service since 1985. The longest serving bomber in the US Air Force is the B-52A which was commissioned back in 1955. The existing fleet was upgraded to the B-52H Stratofortress, commissioned in 1961. It is planned for this warplane to be operated until 2050. As of June 2019, there were 58 B-52 bombers in operation, with 18 more in reserve.

The B-2 is the only stealth bomber in operation anywhere in the world. It was commissioned in 1993. Thef US Air Force operates 20 such warplanes. There is also the B-21 Raider stealth bomber in development by Northrop Grumman. The first test aircraft is being built in Northrop Grumman’s Palmdale, California, facility and has yet to make its maiden flight. The optimistic forecast is that the first bomber should enter service by 2025.

Read more …

Beijing actively encourages additional oil imports. If you don’t produce output now, you’ll be cut next year. Fill your teapot!

China Crude Oil Imports Hit Record High As Refiners Race To Use Up Quotas (R.)

China’s crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas. The world’s top oil buyer imported 45.74 million tonnes of crude, equivalent to 11.13 million barrels per day (bpd), according to data released by the General Administration of Customs on Sunday. That compared with 10.72 million bpd in October and 9.61 million bpd in November last year. For the first 11 months of 2019, China brought in a total of 461.88 million tonnes, or 10.09 million bpd, up 10.4% from the same period last year, the data showed. As the year draws to a close, private refineries, known as teapot refiners, are ramping up output to use up their crude import quotas for the year in order to be able to apply for more quotas next year.


[..] Total natural gas imports, including liquefied natural gas (LNG) and pipeline, in November rose 3.3% from the same period last year to 9.45 million tonnes, customs data showed. In the period of January-November, natural gas imports reached 87.11 million tonnes, up 7.4% from same period last year. On Monday, Russia started to transport pipeline gas from Siberia to northeastern China.

Read more …

Another failed coup.

US Government Drops Case Against Journalist Max Blumenthal (GZ)

The US government has dropped its bogus charge of “simple assault” against journalist Max Blumenthal, after having him arrested on a 5-month-old warrant and jailed for nearly two days. The Grayzone has learned that Secret Service call logs recorded during the alleged incident were either not kept or destroyed. The mysteriously missing evidence included print documents and radio recordings that may have exposed collusion between Secret Service officers operating under the auspices of the US State Department and violent right-wing hooligans in an operation to besiege peace activists stationed inside Venezuela’s embassy in Washington, DC.

Blumenthal, who is the editor of The Grayzone, was arrested at his home on October 25 by a team of DC cops who had threatened to break down his door. He later learned that he was listed in his arrest warrant as “armed and dangerous,” a rare and completely unfounded designation that placed Blumenthal at risk of severe harm by the police. The government’s case rested entirely on a false accusation by a right-wing Venezuelan opposition activist, Naylet Pacheco, that Blumenthal and Benjamin Rubinstein had assaulted her while they were delivering food to Venezuela’s embassy in Washington, DC in the early morning on May 8. (Rubinstein is the brother of journalist and Grayzone contributor Alexander Rubinstein, who was reporting from inside the embassy at the time.)

The Grayzone has reported extensively on the corruption of coup leader Juan Guaidó, whom Washington recognizes as “interim president” of Venezuela, as well as the scandals plaguing Guaidó’s “ambassador” to the United States, Carlos Vecchio. Vecchio personally presided over the weeks-long siege of Venezuela’s embassy in Washington, DC, stage-managing efforts by a mob of rabid right-wing activists to prevent peace activists from receiving deliveries of food and sanitary supplies. As The Grayzone reported, the Donald Trump administration has diverted USAID funding originally intended to assist Central American migrants to pay the salaries of Vecchio and his team in Washington.

[..] Lawyers representing Blumenthal and Rubinstein placed multiple and highly specified discovery requests to the prosecutor for Secret Service call recordings and reports logged on May 8 at the location of the embassy food delivery. The US prosecutor was unable to satisfy the request, verbally confirming that if the documents had existed, they no longer did. “This is highly unusual and highly notable, almost inexplicable in the ordinary course of operations that these records were not maintained and preserved,” said Carl Messineo, the counsel to Rubinstein and a co-founder of the Partnership for Civil Justice Fund. “Given the false nature of allegations and that they advanced a prosecution based on these it is really questionable that this information was not produced.”

Read more …

It’s getting out of hand. Australia has a huge water/moisture shortage.

Fire ‘Too Big To Put Out’ May Blanket Sydney In Smoke For Months (NW)

A wildfire blazing 37 miles northwest from Sydney, Australia has been determined to be “too big to put out,” leaving residents to evacuate and the city with the prospect of months of heavy smoke. The fire is currently 1,150 square miles across and is comprised of several fires merging into one. Called the Gospers Mountain mega blaze, 2,200 firefighters are reported to be out in the field battling the fire, with groups of Canadian and American firefighters said to be joining them soon. Walkabout Wildlife Park has evacuated hundreds of animals to keep them safe from the fire. But the Bureau of Meteorology declared that some of the fires were too big to extinguish and would only be put out when the country received a good rain.


Sydney may be blanketed in smoke for weeks—possibly months. Sydney has already been enduring higher smoke levels than normal, and hospital officials report a 10 percent increase in admissions. Health officials warn that those who inhale the smoke long term might see effects similar to smoking cigarettes. “A cigarette is basically a plant that we purposely inhale. And in bushfires, it’s another plant that we’re inhaling the smoke from, so it’s not surprising the health effects are actually quite similar,” said Associate Professor Brian Oliver, an expert in respiratory disease from the University of Technology, Sydney to the BBC. “We cannot stop these fires, they will just keep burning until conditions ease, and then we’ll try to do what we can to contain them,” said NSW RFS deputy commissioner, Rob Rogers to the ABC.

Read more …

 

 

 

Please put the Automatic Earth on your Christmas charity donations list. Support us on Paypal and Patreon.

Top of the page, left and right sidebars. Thank you.

 

 

 

Nov 292019
 
 November 29, 2019  Posted by at 9:53 am Finance Tagged with: , , , , , , , ,  13 Responses »


Dorothea Lange Negro woman who has never been out of Mississippi July 1936

 

The Limits of Lagarde (Varoufakis)
Millennials Have a Right To Be Pissed at Boomers (Vice)
What’s Behind the Subprime Consumer Loan Implosion? (WS)
DOJ Watchdog Expected To Downgrade ‘Spying’ On Trump Campaign (ZH)
Papua New Guinea Faces Cash Crunch As China Repayment Schedule Ramps Up (R.)
Britain’s Chief Rabbi Mirvis Is Helping to Stoke Antisemitism (Cook)
Boris Johnson Replaced By Melting Ice Block In TV Debate (R.)
Greeks Are Last In Welfare Chart (K.)
‘There Is Only One Of Us Telling The Truth’ – Virginia Giuffre (Ind.)
Prince Andrew’s Ex Mulling Bombshell Tell-All Book (NYP)
How Prince Andrew Forced Me To Recognise The Hollowness Of The Crown (G.)

 

 

In my view this is far too close to “I was only following orders”. Draghi, Lagarde, Bernanke et al are responsible for their own actions.

The Limits of Lagarde (Varoufakis)

Shortly after the Eurogroup meeting of Eurozone finance ministers on June 27, 2015, I bumped into a worried-looking Mario Draghi, the president of the European Central Bank. “What on earth is Jeroen doing?” he asked me, referring to Jeroen Dijsselbloem, the Eurogroup’s then-president. “Damaging Europe, Mario. Damaging Europe,” I replied. He nodded, looking concerned. We took the elevator to the ground floor and parted silently. Journalists find it natural to assume that Draghi and I had a hostile relationship during the 2015 standoff between Greece, which I represented, and the ECB. But the impasse at which we had become stuck was not caused by a clash of characters, and it involved no mutual recrimination. Rather, it reflected an institutional failure for which I never held Draghi personally responsible. Hostility between us, being unnecessary, was absent.

My fleeting exchange with him came to mind as he recently vacated the electric chair amid much speculation about the ECB’s future direction under his successor, Christine Lagarde. It reminded me of the unacknowledged powerlessness of the ECB president, who leads a mighty institution that is far less independent in practice than it is in theory. Lagarde will now have to reckon with that powerlessness as she steers the ECB in a sea of deflationary hazards. During 2015, Draghi sometimes made decisions detrimental both to the Greek people and to Europe’s common interest. One came on February 4. On that morning, following a meeting I had in London the previous day with financiers to whom I presented my plans for a moderate debt restructuring, the Athens stock exchange index shot up by 13%, led by a gain of more than 20% for Greek bank shares.

With that wind in my sails, I flew to Frankfurt to meet Draghi for the first time. One might think that a freshly appointed eurozone finance minister who had just managed to boost his country’s financial assets significantly would be helped by his central banker. Instead, the ECB’s governing board decided the same day to sever Greek banks’ access to euro liquidity. Unsurprisingly, Greek corporate and banking shares crashed, wiping out the previous day’s gains. In any other country, the position of the central banker would be untenable. The remit of a central bank is to aid the government’s efforts to stabilize finance and support the economy. In the eurozone, however, political constraints force the central bank to inflict the kind of damage Draghi’s ECB visited upon our stock exchange that February afternoon.

Read more …

And they will have a lot more right soon.

Millennials Have a Right To Be Pissed at Boomers (Vice)

Just how badly are millennials being screwed out of wealth? Let’s take a look at the data. The Federal Reserve regularly publishes data on the generational gaps in wealth. The boomers have plenty of it, and millennials don’t. That’s no surprise — the boomers are older. But what recent data also clearly shows is that when the boomers were millennials’ age, they had significantly more than millennials do today. Back in 1989, when boomers were between 25 and 43, they already owned 20.9% of the country’s wealth, according to data from the Federal Reserve updated earlier this month. In 2019, millennials are between 23 and 38, and they currently own a whopping 3.2% of wealth. That means boomers had more than six times as much wealth in 1989 as millennials do now.


“I definitely think millennials have a bunch to be uniquely annoyed about,” said Josh Bivens, research director at the Economic Policy Institute. “Lots of them graduated into a horrible labor market, and they’ve probably been very stunted in their ability to get on the treadmill of earning enough to actually save anything.” Looking at wealth over time, any given generation would start out with nothing. (Children don’t own stuff.) As time passes, they’d accumulate wealth, and, eventually, people die and tend to pass their wealth on as inheritance.

Read more …

“Back in 2016, the credit-card delinquency rate at these banks was in the 3% range. It has more than doubled in two years.”

What’s Behind the Subprime Consumer Loan Implosion? (WS)

OK, we’ve got a situation in subprime consumer loans. The delinquency rate on credit-card loan balances at the nearly 5,000 smaller commercial banks in the United States – this means all banks except the largest 100 – is blowing out, according to Federal Reserve data. In the third quarter, the delinquency rate at these banks rose to 6.25%. That’s higher even than during the peak of the Financial Crisis. Back in 2016, the credit-card delinquency rate at these banks was in the 3% range. It has more than doubled in two years. Credit card balances are considered delinquent when they’re 30 days or more past due. This delinquency rate means that out of the banks total credit card balances, 6.25% are 30 days or more past due. This is a disturbingly large rate.


But delinquencies are a flow. Balances are removed from the delinquency basket either when the customer cures the delinquency, such as catching up with past-due payments, or when the bank “charges off” the delinquent balance against its loan loss reserves. But as these delinquent balances were taken out of the delinquency basket, even more new delinquencies fell into the basket, and the delinquency rate rose. Subprime auto loans have also been blowing out. In the third quarter, the serious delinquency rate of the $1.3 trillion in auto loans has risen to 4.71%, the highest since the worst months of the Financial Crisis, when the auto industry collapsed, and when the US was facing the worst unemployment crisis since the Great Depression. In the third quarter, about 21% of all subprime auto loans were seriously delinquent – meaning 90 days past due.

Read more …

The DOJ/Deep State protects its own?

DOJ Watchdog Expected To Downgrade ‘Spying’ On Trump Campaign (ZH)

In late September, RealClearInvestigations’ Paul Sperry suggested that Inspector General Michael Horowitz – tasked with investigating and exposing wrongdoing at the highest levels – was feared to be pulling punches in order to protect establishment darlings in his upcoming report on the Russia investigation. Now we learn that Horowitz, who volunteered on several Democratic political campaigns while in college and is married to a former liberal political activist, Obama donor and CNN employee, is expected to conclude that the FBI didn’t spy on the Trump campaign. Instead, when longtime FBI / CIA asset Stephan Halper and his undercover FBI ‘assistant’ named “Azra Turk” befriended George Papadopoulos, it was nothing more than “typical law enforcement activities,” according the New York Times.

“Mr. Horowitz found no evidence that Mr. Halper tried to infiltrate the Trump campaign itself, the people familiar with the draft report said, such as by seeking inside campaign information or a role in the organization. The F.B.I. also never directed him to do so, former officials said. Instead, Mr. Halper focused on eliciting information from Mr. Page and Mr. Papadopoulos about their ties to Russia. [..] Mr. Trump and his allies have pointed to some of the investigative steps the F.B.I. took as evidence of spying, though they were typical law enforcement activities. -NYT. Recall that the Obama administration had paid Halper over $1 million over a several years, with nearly half of it surrounding the 2016 election.

The report is also expected to conclude that Maltese professor Joseph Mifsud – who fed Papadopoulos the rumor that Russia had dirt on Hillary Clinton – is not an FBI informant. Mifsud, a self-described member of the Clinton Foundation, has been painted by Western media as a Russian asset. Except, nobody claimed Mifsud was an FBI informant. As The Conservative Treehouse notes, “The concern has always been Mifsud was a western intelligence asset, perhaps CIA.” Moreover, Horowitz will conclude that while the FBI was ‘careless and unprofessional’ in pursuing a wiretap on Trump campaign adviser Carter Page, and that a ‘front-line lawyer’ Kevin Clinesmith, 37, fabricated evidence to support a FISA spy warrant renewal against Page, that the underlying justification to go after Page remained intact.

Read more …

Belt and Road.

Papua New Guinea Faces Cash Crunch As China Repayment Schedule Ramps Up (R.)

Papua New Guinea’s annual debt repayments to China are forecast to increase 25% by 2023, new budget figures show, at the same time as the Pacific nation falls to its largest ever deficit. The resource-rich archipelago, which is at the center of a diplomatic tussle between China and the United States, has blamed extravagant spending by the previous administration for its souring finances, which will require the government to borrow even more to pay the bills. Balancing its books has been made more difficult by recalculations to the country’s outstanding debt. It has soared 10 percentage points since the last annual budget to 42% of GDP, above the legal limit of 35%.


“You have some of those loans clicking in; the repayments are going to be a problem,” said Paul Barker, executive director of Port Moresby-based think tank the Institute of National Affairs. Formerly administered by U.S. ally Australia, PNG has in recent years turned increasingly to China for financing as Beijing becomes a bigger player in the region. The U.S. has repeatedly warned that China was using “predatory economics” to destabilize the Indo-Pacific; a charge strongly denied by Beijing.

Read more …

Yup.

Britain’s Chief Rabbi Is Helping to Stoke Antisemitism (Cook)

Chief rabbi Ephraim Mirvis has not only misrepresented the known facts about Labour and its supposed antisemitism crisis. He has not only interfered in an overtly, politically partisan manner in the December 12 election campaign by suggesting that Jeremy Corbyn – against all evidence – is an antisemite. By speaking out as the voice of British Jews – a false claim he has allowed the UK media to promote – his unprecedented meddling in the election of Britain’s next leader has actually made the wider Jewish community in the UK much less safe. Mirvis is contributing to the very antisemitism he says he wants to eradicate. Mirvis’ intervention in the election campaign makes sense only if he believes in one of two highly improbable scenarios.

The first requires several demonstrably untrue things to be true. It needs for Corbyn to be a proven antisemite – and not just of the variety that occasionally or accidentally lets slip an antisemitic trope or is susceptible to the unthinking prejudice most of us occasionally display, including (as we shall see) Rabbi Mirvis. No, for Mirvis to have interfered in the election campaign he would need to believe that Corbyn intends actively as prime minister to inflame a wider antisemitism in British society or implement policies designed to harm the Jewish community. And in addition, the chief rabbi would have to believe that Corbyn presides over a Labour party that will willingly indulge race-hate speeches or stand by impassively as Corbyn carries out racist policies.

If Mirvis really believes any of that, I have a bridge to sell him. Corbyn has spent his entire political career as an anti-racism campaigner, and his anti-racism activism as a backbencher was especially prominent inside a party that itself has traditionally taken the political lead in tackling racism. The second possibility is that Mirvis doesn’t really believe that Corbyn is a Goebbels in the making. But if that is so, then his decision to intercede in the election campaign to influence British voters must be based on an equally fanciful notion: that there is no significant threat posed by antisemitism from the right or the rapidly emerging far right. Because if antisemitism is not an issue on the right – the same nationalistic right that has persecuted Jews throughout modern history, culminating in the Nazi atrocities – then Mirvis may feel he can risk playing politics in the name of the Jewish community without serious consequence.

Read more …

I thought it was funny. But Boris threatens to take Channel 4’s licence away.

Boris Johnson Replaced By Melting Ice Block In TV Debate (R.)

British broadcaster Channel 4 represented Prime Minister Boris Johnson with a block of melting ice in a prime-time election debate on the environment on Thursday, prompting his Conservative Party to complain this broke impartiality rules. The commercially funded public-service broadcaster invited leaders of all Britain’s main political parties to take part in the debate before Dec. 12’s election, but both Johnson and the leader of the Brexit Party, Nigel Farage, declined to attend. The Conservative Party offered former environment minister Michael Gove as a substitute, but the broadcaster said the debate was only intended for party leaders, and that the other political parties would not agree to change the terms.


“This effectively seeks to deprive the Conservative Party of any representation and attendance,” the Conservatives wrote in a letter of complaint to broadcast regulator Ofcom. British television broadcasters are required to be politically impartial, and face extra balance requirements during election periods. Ofcom can fine broadcasters that do not comply, and as a last resort can cancel a broadcaster’s license. The Conservatives said Thursday’s disagreement was “part of a wider pattern of bias by Channel 4 in recent months”. The broadcaster’s head of news and current affairs, Dorothy Byrne, described Johnson as “a known liar” in a major industry speech in August.

Read more …

“Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months..”

Greeks Are Last In Welfare Chart (K.)

Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months, and in seven out of 10 of those cases it’s not just a one-off incident but a regular occurrence. Some of those who eventually do pay their bills do so with borrowed money, mainly from friends, according to the findings of the European Consumer Payment Report 2019. The survey of 24,000 consumers in 24 European countries by Swedish company Intrum has brought to light a number of worrying trends on the European level, such as a return to excessive consumer borrowing, something that is spurred considerably by easy access to credit cards and loans obtained via the internet or the telephone, for example.


The report showed that 61 percent of Greeks had failed to pay at least one bill in the previous 12 months, which is the highest rate among the 24 countries surveyed and almost twice the European average of 33 percent. Worse, 68 percent of those who failed to pay on time said they did so regularly, also the highest rate in Europe, against an average rate of 47 percent. Furthermore, Greeks also had the highest rate (40 percent) of people who had borrowed money or maxed out their credit cards. The European average stands at just 24 percent, based on data from the 24 countries surveyed by Intrum.

Read more …

Three articles on Proice Andrew, just to indicate how much the pressure increases. Will The Firm give him up to save itself?

‘There Is Only One Of Us Telling The Truth’ – Virginia Giuffre (Ind.)

The woman who claims she was forced into sex with Prince Andrew as a teenager said in her first UK interview: “He knows what happened, I know what happened and there’s only one of us telling the truth.” Virginia Giuffre, previously known as Virginia Roberts, said being caught up with the Duke of York and Jeffrey Epstein was “a really scary time in my life”. The BBC‘s Panorama programme released a trailer on Twitter of its upcoming episode, which features an interview with Ms Giuffre, who claims she was made to sleep with Andrew when she was 17. The hour-long episode, titled The Prince and the Epstein Scandal, will be screened on BBC One on Monday.

Ms Giuffre alleges the duke had sex with her on three separate occasions. He denies the allegations and has insisted he has “no recollection of ever meeting this lady”. Ms Giuffre has also criticised the Metropolitan Police for failing to investigate her allegations. In a statement on Thursday, the Met said it stood by its decision not to investigate claims by the duke’s accuser, and added that officers had spoken to other law enforcement agencies but have “not received a formal request asking for assistance”. The Met said it reviewed its previous decision that it was “not the appropriate authority to conduct inquiries in these circumstances” following Epstein’s death in August, and that its position remained unchanged.

Epstein took his own life in a New York prison while he was being held on sex trafficking charges. William Barr, the US attorney general, has slapped down conspiracy theories claiming the trafficker was murdered, saying that he died in a “perfect storm of screw-ups”.

Read more …

Publishers can’t not look at this, it’s too lucrative.

Prince Andrew’s Ex Mulling Bombshell Tell-All Book (NYP)

Prince Andrew’s socialite ex is considering penning an explosive tell-all book — including details of a dinner party with Jeffrey Epstein attended by both Bill Clinton and Donald Trump, it was claimed Thursday. Lady Victoria Hervey, 43, has already been doing interviews discussing her brief fling with the Duke of York and how it threw her into the heart of Epstein’s depraved world. She says she was introduced to the pedophile by his accused madam Ghislaine Maxwell — who she likened to a James Bond character — and feels she only escaped Epstein’s clutches because she was “too old.” But Hervey kept back many of the juiciest details, which she now could put in an explosive book that could further embarrass the disgraced duke, according to The Sun.


“There is a lot that she has never revealed about the Royal family, members of high society and big-named stars,” a source close to her told the paper. “She’s done many interviews but has always kept many things under her belt. “She feels like now is the right time to get some things off her chest — including about Prince Andrew, Jeffrey Epstein and Ghislaine Maxwell. “She’d been a part of that social scene for many years.” Hervey’s “really explosive life” also includes “debauched drug-fueled parties, threesomes with celebrities — all sorts,” the source told The Sun of her book plans. “She has had a lucrative offer to write a book and she’s definitely considering it,” the source said.

Read more …

G-d only knows why anyone would want to watch this sort of thing, but now the royal family is forever linked to pedophilia.

How Prince Andrew Forced Me To Recognise The Hollowness Of The Crown (G.)

Before the advent of The Crown – the Netflix show, not the institution – Princess Margaret was widely regarded as a snobbish, spiteful creature. That image has been refurbished: to fans of the show, she is firmly established as poor Margaret, the dazzling, tragic second fiddle to the Queen, who only wanted a meaningful role. After two seasons, I had been thinking of Margaret this way myself, while gussying up uncharacteristically warm feelings for the royals. The Queen does a good job, I thought. So what if she’s a little dull, isn’t that the bedrock of service – dependability? It’s not often one has one’s delusions dismantled in real time, but so it has been, this past fortnight, witnessing Prince Andrew’s flagrant awfulness in tandem with The Crown’s terrible third season. The experience has been like a sudden, dramatic return to reason.

There was never a subversive element to The Crown, and nor was there need for one. As we know from the small amount of documentary footage that exists of the Queen in her off-hours, the most outlandish drama one can eke from the royals lies in the depiction of them doing “ordinary” things: watching TV, smiling. This drama only works if one is willing to be charmed, a feat that the early seasons achieved. They also adhered to the narrative put forward by the House of Windsor itself: however misguided its application, the animating principle of all royals – with the exception of Edward VIII – was duty, honour, loyalty. If the royals have a fault, the show suggests, it is that they take these principles too seriously, particularly when they come into conflict with more human considerations.

In Prince Andrew’s catastrophic TV interview, the precise, delusional nature of his language – his now infamous line, “my judgment was probably coloured by my tendency to be too honourable” – mirrored so exactly the ethos of the show, it could have served as its tag line. One can only imagine how the script, in its current form, would treat Andrew’s predicament: as the story of a prince crushed by the weight of his own nobility; the tragedy of a man whose saucy impulses had nowhere to go.

Read more …

 

 

 

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Top of the page, left and right sidebars. Thank you.

 

 

 

Oct 202019
 
 October 20, 2019  Posted by at 9:45 am Finance Tagged with: , , , , , , , , , , , ,  20 Responses »


Rembrandt van Rijn The three trees 1643

 

Hillary Clinton Bails On DC Event That Tulsi Gabbard Is Attending (NYP)
Dems Introduce Legislation To Block G7 Summit At Trump’s Doral Resort (Fox)
Trump Ditches Plan To Host G7 At Doral Resort: ‘Irrational Hostility’ (G.)
Trump Campaign Mocks Outrage Over Mulvaney Comments With T-Shirts (ZH)
UK PM Sends Unsigned Request For Brexit Delay (BBC)
Brexit Delay And Election Better Than Johnson’s Deal – Farage (R.)
Parliament Tethers Britain to a Failing Experiment (OffG)
“European Values” Is Slang For “European Power” (OffG)
Libor Rigging Inquiry Shut Down By Serious Fraud Office (BBC)
Boeing Board To Meet In Texas As Scrutiny Intensifies (R.)
The Not-Com Bubble Is Popping (Atl.)
Iraq Cleric Sadr Urges Supporters To Continue Anti-Government Protests (Rudaw)
10 Australia MPs Join Forces To Bring Home Julian Assange (DT.au)

 

 

NOTE: none of the people in the clip below have denied beating their wives.

Hillary Clinton Bails On DC Event That Tulsi Gabbard Is Attending (NYP)

It looks like the “Queen of Warmongers” blinked. A face-to-face confrontation between Hillary Clinton and Hawaii Rep. Tulsi Gabbard set for next Friday was averted when Clinton backed out of the Fortune Most Powerful Women Summit in Washington, DC. Clinton aides cited a scheduling conflict when she announced her withdrawal from a speaking slot at the annual event. One insider told Slate that Clinton dropped out to protest the inclusion of former Homeland Security Secretary Kirstjen Nielson on the schedule. But Gabbard is on the bill, too — and Clinton’s pull-out came just hours after the former Secretary of State on Friday accused the Hawaii Democrat of being the “favorite of the Russians” on a podcast.


“I think they’ve got their eye on somebody who is currently in the Democratic primary and are grooming her to be the third-party candidate,” Clinton said. Gabbard fired back with a venomous tweet. “Thank you @HillaryClinton,” she posted. “You, the queen of warmongers, embodiment of corruption, and personification of the rot that has sickened the Democratic Party for so long, have finally come out from behind the curtain.” Gabbard continued the retort during an appearance on Tucker Carlson Tonight: “The reason why she’s doing this is because ultimately she knows she can’t control me. I stand against everything that she represents.”

Read more …

And these people have no idea when they’re being uber trolled. They use their political clout to spend taxpayer money on hot air.

Dems Introduce Legislation To Block G7 Summit At Trump’s Doral Resort (Fox)

A trio of House Democrats introduced legislation Friday to block President Trump from hosting next year’s G7 summit at one of his Florida resorts. Reps. Lois Frankel from Florida, Bennie Thompson from Mississippi and Steve Cohen from Tennessee proposed the Trump’s Heist Undermines the G-7 (THUG) Act. A companion bill sponsored by Sens. Richard Blumenthal, D-Conn., and Sheldon Whitehouse, D-R.I., will be introduced in the Senate, according to lawmakers. The House bill would prohibit funding for the three-day summit at Trump National Doral Golf Club in June. It would also require Trump to submit to Congress documents related to the decision to host the summit at Doral, lawmakers said.


“[Trump] is unashamed of his corruption,” Frankel said in a press release. “He is abusing the office of the presidency and violating law by directing millions of dollars of American and foreign money to his family enterprises by holding an important meeting of world leaders at his Doral resort.” Acting White House Chief of Staff Mick Mulvaney made the announcement on Thursday that next year’s G7 meeting will be held at Doral June 10-12. Mulvaney said the decision will save taxpayers millions because the resort will provide its services at cost. Democratic lawmakers claimed Friday that past G7 summits have cost “upwards of $40 million.”

Read more …

Meanwhile, the press and the Democrats have provided Trump with first of all a big laugh, plus an enormous amount of free advertizing for his resort. And they’re all righteous about it, they celebrate it as a major victory. Here’s the Guardian: “Donald Trump has been forced into a humiliating climbdown”.. Good god. Ditch the blinders.

Trump Ditches Plan To Host G7 At Doral Resort: ‘Irrational Hostility’ (G.)

Donald Trump has been forced into a humiliating climbdown over plans to host the G7 meeting at his own luxury resort following a political outcry. The US president announced in a Saturday night tweet that he had reversed his decision and would seek an alternative venue to host world leaders next June. The move represented a rare admission of defeat by Trump, who typically digs in and fights to defend every controversial statement and policy. Even in his concession, the president complained bitterly that he thought he was “doing something very good for our country” by choosing the Trump National Doral, near Miami, to host G7 leaders.

“It is big, grand, on hundreds of acres, next to Miami international airport, has tremendous ballrooms & meeting rooms, and each delegation would have … its own 50 to 70 unit building,” he tweeted. Trump added that he had announced he would do it at no profit and at no cost to the US but, he claimed, both the media and Democrats had reacted unreasonably. “… Therefore, based on both media & Democrat crazed and irrational hostility, we will no longer consider Trump National Doral, Miami, as the host site for the G-7 in 2020,” the president continued. “We will begin the search for another site, including the possibility of Camp David, immediately. Thank you!”

The choice of the Trump National Doral was widely condemned as the most egregious example yet of the president abusing his position to enrich himself and his business. The resort was in need of a boost: in May the Washington Post reported that Doral’s operating income had fallen 69% since 2015. Trump’s u-turn was welcomed by ethics watchdogs. Noah Bookbinder, executive director of Citizens for Responsibility and Ethics in Washington, said: “President Trump’s decision to award the G7 Conference to his own property was outrageous, corrupt and a constitutional violation. “It was stunningly corrupt even for a stunningly corrupt administration. His reversal of that decision is a bow to reality, but does not change how astonishing it was that a president ever thought this was appropriate, or that it was something he could get away with.”

Read more …

And of course the trolling continues, certainly after the success of the Doral narrative.

Trump Campaign Mocks Outrage Over Mulvaney Comments With T-Shirts (ZH)

The Trump campaign’s latest trolling (after selling plastic straws and “Where’s Hunter?” T-shirts) comes after acting White House Chief of Staff Mick Mulvaney told reporters last week that there’s “going to be political influence in foreign policy,” suggesting that the media “get over it.” In response, the Trump campaign turned Mulvaney’s comment into yet another T-shirt, as the rest of the media foused on his seeming admission that there was a quid pro quo with Ukraine. “Did he also mention to me in past the corruption related to the DNC server? Absolutely,” Mulvaney told reporters. “No question about that. But that’s it, and that’s why we held up the money.”


This was quickly seized on by White House reporters, who said Mulvaney described a quid pro quo for holding up security assistance to Ukraine unless the country’s alleged involvement with the DNC server was investigated. Mulvaney, later retracted his statement – saying “Let me be clear, there was absolutely no quid pro quo between Ukrainian military aid and any investigation into the 2016 election. The president never told me to withhold any money until the Ukrainians did anything related to the server.”

Read more …

Is there anybody left who knows where things stand? This move feels convoluted. 1 million protesters yesterday in London.

UK PM Sends Unsigned Request For Brexit Delay (BBC)

Boris Johnson has sent a request to the EU for a delay to Brexit – but without his signature. The request was accompanied by a second letter, signed by Mr Johnson, which says he believes that a delay would be a mistake. The PM was required by law to ask the EU for an extension to the 31 October deadline after losing a Commons vote. EU Council President Donald Tusk tweeted that he had received the extension request. He added he would now consult EU leaders “on how to react”. Hours after losing a crunch vote in a historic Saturday session in the House of Commons, the prime minister ordered a senior diplomat to send an unsigned photocopy of the request for a delay, which was forced on him by MPs last month.


The second letter from Mr Johnson – signed off this time – makes clear he personally believes a delay would be a mistake. It says the government will press on with efforts to pass the revised Brexit deal agreed with EU leaders last week into law, and that he is confident of doing so by 31 October. A cover note from Sir Tim Barrow, the UK’s representative in Brussels, explained the first letter complied with the law as agreed by Parliament. The prime minister previously said he would “rather be dead in a ditch” than ask the EU to delay Brexit. BBC Political Editor Laura Kuenssberg described the decision to send three documents as “controversial”, predicting “there will be a fight about whether Boris Johnson is trying to circumvent the court”. She added: “This is heading straight for the court, and it may very quickly end up in the Supreme Court.

Read more …

Farage thinks he can win bigly in the elction.

Brexit Delay And Election Better Than Johnson’s Deal – Farage (R.)

Brexit Party leader Nigel Farage said on Sunday a short delay to Brexit in order to hold a national election would be better than accepting Prime Minister Boris Johnson’s deal. “I want to leave on the 31 of October, but I’ll warn everybody that if this treaty goes through nothing will have changed at all, and I think far better to have a short delay and a general election where we might solve this,” Farage told Sky News, adding that Johnson’s deal was “rotten” and “not Brexit”.

Read more …

I like this from OffGuardian. We need alternative views. Part is on Britain…

Parliament Tethers Britain to a Failing Experiment (OffG)

Brexit isn’t going to happen. Left or Right – Lexit or Rexit – it’s over. It’s time to make peace with that idea. Penned in by the absurd Benn Act, No Deal is off the table, which means Britain will be forced to either remain or accept a deal that’s Remain by another name. The Letwin Ammendment and Johnson’s unsigned extension request are just morbid theatre. Unneccasary nails in a well-sealed coffin. It’s all very Weekend at Bernies’ – A lame cast of characters, puppeteering Brexit’s corpse to keep up a tired joke that was never funny to begin with. Parliament has become an absurd pantomime, where a clown Prime Minister – his majority willfully destroyed – sets up straw men that the “opposition” bayonet with increasingly maniacal glee.

No thought is given to policy or consequences, only increasing the tally of Boris Johnson’s parliamentary defeats. Labour, and the bedraggled, hysterical remainers in the Lib Dems/TIG/Green Party, have become nothing but contrarians – automatically gain-saying anything tabled by the government for the simple joy of humiliating the nation’s Court Jester in Chief. Corbyn has been so successfully gaslighted by his remain-heavy PLP he doesn’t even realise he’s betraying his life-long principles, his mentor Tony Benn, and entire swaths of the Labour’s Northern heartlands, who all voted to leave. When a general election does come, it will mean nothing.

Labour will likely be destroyed as working-class voters either flock to the Brexit Party or simply collapse into the apathy of the voiceless, and stay home. If Labour scrapes together enough voters from Remain country in Scotland and London to claw their way to a small majority, well their socialist manifesto will be crippled by the EU’s austerity policy and restrictions on nationalisation. In either event, Corbyn will be replaced by a New Labour non-entity of little renown and less worth. The papers will declare socialism dead (again), and maybe clap Corbyn on the shoulder for doing “well, considering” and “changing the conversation”.

Read more …

…and Kit Knightly unloads on the EU as well.. (2nd part of same article)

“European Values” Is Slang For “European Power” (OffG)

France is miserable, sick of austerity. Sick of spending cuts and falling standards and neo-liberal economics promising a trickle-down that never seems to come. In Paris – and many other French cities – the Yellow Vests are nearing their fiftieth straight week of protests, and don’t seem to be slowing down (Hopefully they plan something nice for their first birthday). People have lost eyes, hands, even lives. The Hong Kong protests – so long front-page news in the UK – have been a picnic in comparison. In Hungary, an elected President is held hostage by the bureaucracy of the EU. Whatever you think of Orban, he was democratically elected to enact the political promises he made during his campaign.

That Brussels can sanction him, and threaten to remove Hungary’s voting rights, is perverse. Anti-democracy in the name of democracy. They say it’s about “protecting European values”, but is it? That’s pretty hard to believe, considering the situation elsewhere in Europe… Spain will join France in the flames soon. They already sent thirteen politicians to prison for sedition. Take a moment to consider that – actual “sedition”. This comes after sending in riot police to break up a peaceful referendum. Spanish police beat voters, arrested protesters and destroyed ballot boxes. Madrid has faced no punishment, or even criticism, for this. They – unlike Orban – have escaped any sanction or censure.

Police attack Catalonian independence protests on the streets of Barcelona…and Brussels’ silence is deafening. (Imagine Russia had just jailed 13 opposition politicians for sedition. Imagine Maduro was blinding protestors with rubber bullets. The difference in coverage and attitude would be breathtaking.) What is the difference between Budapest and Paris? Or Moscow and Madrid? Well, Orban is anti-EU (as are the Gilets Jaunes). The governments of France and Spain are Pro EU, with a ferocity that fully justifies the capital P. Follow a pro-EU agenda of austerity, uncontrolled immigration and globalisation and you can blind as many protesters as you want. The harder you look, the more it seems “European values” is slang for “European power”.

Read more …

Just a rumor: “The decision comes because of evidence that implicates the Bank of England”

Libor Rigging Inquiry Shut Down By Serious Fraud Office (BBC)

An investigation into the rigging of Libor, the benchmark interest rate that tracks the cost of borrowing cash, has been unexpectedly closed. The decision comes despite evidence that implicates the Bank of England. It means no one will now be prosecuted in the UK for so-called “low-balling”, where banks understate interest rates they pay to borrow cash. The Serious Fraud Office (SFO) said its decision followed a detailed review of the evidence. Thirteen traders and money brokers were prosecuted over four years by the SFO in connection with rigging Libor.


Six have been prosecuted by the US Department of Justice (DoJ). A further 11 traders have been prosecuting for manipulating Euribor, the eurozone equivalent of Libor. The SFO said aspects of its Euribor investigation remain open. In a statement, the SFO said: “Following a thorough investigation and a detailed review of the available evidence, there will be no further charges brought in this case. This decision was taken in line with the test in the Code for Crown Prosecutors.” The code states that the evidence must support a realistic prospect of conviction and must be in the public interest.

Read more …

The people who demanded the cost cuts that led to the drama now get together to fire a few 1000 employees. They should first fire themselves.

Boeing Board To Meet In Texas As Scrutiny Intensifies (R.)

Boeing Co’s board of directors and top executives from its airplanes division and supply chain were due to meet on Sunday in San Antonio, Texas, two days after the U.S. planemaker was plunged into a fresh crisis over its banned 737 MAX jet. The meeting comes as pressure mounts on the world’s largest planemaker not only from investigations into the 737 MAX following two deadly crashes, but also from the financial burden caused by the jet’s safety ban and continued high production. Several industry sources said there was speculation inside the company of significant job cuts as Boeing, unable to deliver 737 MAX planes to customers, continues to drain cash.


And although Boeing has so far told suppliers it expects to maintain a production rate of 42 single-aisles monthly with plans to increase to a record level next near, rates may have to come down if regulators further delay the MAX’s return to service, the people said. The schedule for the board’s face-to-face meetings was set for Sunday and Monday in San Antonio, one of the people said, two days before Boeing reports earnings on Oct. 23. The week after, Boeing Chief Executive Officer Dennis Muilenburg – who was stripped of his job as board chairman eight days ago – is due to testify before U.S. Congress about the plane’s development.

Read more …

WeWork is not a mass mania?

The Not-Com Bubble Is Popping (Atl.)

It is easy to look at today’s crop of sinking IPOs—like Uber, Lyft, and Peloton—or scuttled public offerings, like WeWork, and see an eerie resemblance to the dot-com bubble that popped in 2000. Both then and now, consumer-tech companies spent lavishly on advertising and struggled to find a path to profit. Both then and now, companies that bragged about their ability to change the world admitted suddenly that they were running out of money. Both then and now, the valuations of once-heralded tech enterprises were halved in a matter of weeks. Both then and now, there was a widespread sense of euphoria curdling into soberness, washed down with the realization that thousands of workers in once-promising firms were poised to lose their jobs.

But if you look closer, today’s correction isn’t much like the dot-com bubble at all. In fact, it might be more accurate to say that what’s happening today is the very opposite of the dot-com bubble. Let’s first understand what exactly that bubble was: a mania of stock speculation, in which ordinary investors—from taxi drivers to Laundromat owners to shoe-shiners—bid up the price of internet-related companies for no good reason other than “because, internet.” Companies realized that they could boost their stock price by simply adding the prefix e- (as in “e-Bay”) or the suffix com (as in Amazon.com) to their corporate names to entice, and arguably fool, nonprofessionals. “Americans could hardly run an errand without picking up a stock tip,” The New York Times reported in its postmortem.

[..] When the web browser Netscape went public on August 9, 1995—the day many cite as the beginning of the dot-com bubble—its stock skyrocketed from $28 to $75 in a matter of hours, even though the company wasn’t profitable. In today’s market, the opposite is happening: Unicorns with no positive earnings are getting slaughtered at the gates. WeWork’s valuation fell more than 80 percent pre-IPO when investors balked at its mounting losses. Peloton, Lyft, and Uber have also struggled to persuade public markets to grade them on a curve; all saw their stock prices fall on the day of the public offering. Institutions and retail investors are refusing to fork over to unicorns the valuations that private investors were expecting—particularly Softbank, a major backer of Uber, Lyft, and WeWork. This isn’t a picture of mass mania. It’s a picture of public sobriety, where the masses are diagnosing an acute fever in private markets.

Read more …

My list of mass protests yesterday included Chili, Ecuador, Lebanon, Barcelona, France, London, Puerto Rico, Hong Kong. Today we can add Iraq.

Iraq Cleric Sadr Urges Supporters To Continue Anti-Government Protests (Rudaw)

Firebrand Shiite cleric Muqtada al-Sadr has called on Iraqis to resume the nationwide protests against corruption, unemployment, and the lack of public services. Several of Iraq’s central and southern cities, including the capital Baghdad, were rocked by violent protests in early October, which left at least 108 dead and more than 6,000 injured. In a long statement published on his Facebook page late on Saturday, Sadr called on his supporters and the public to return to the streets on Friday, October 25 to resume the protests.


Sadr is head of the Sayirun alliance, the largest bloc in the Iraqi parliament. He is also head of the Saraya al-Salam militia, which is part of Popular Mobilization Forces (PMF) umbrella, also known as Hashd al-Shaabi in Arabic. “The government leaders and politicians are in a state of fear because of you, they are completely unable to fix anything within this country,” Sadr’s statement read. “Therefore, I ask everyone to start the revolution which will clean Iraq from corrupters and fools.” Sadr has withdrawn his backing for the government of Adil Abdul-Mahdi in the wake of the protests and called for fresh elections. He accused Iraq’s top politicians of being under the influence of foreign powers – particularly arch rivals Iran and the United States.

Read more …

Is something positive happening? I’m not holding my breath for Australia to stand up to the US.

10 Australia MPs Join Forces To Bring Home Julian Assange (DT.au)

A group of 10 MPs from across the political spectrum have joined forces to form a Parliamentary Working Group focused on bringing home Wikileaks founder Julian Assange. LNP member George Christensen and independent Andrew Wilkie have agreed to be co-chairs and have put forward the proposed group for approval from the President of the Senate and the Speaker of the House of Representatives. It is understood the group includes Nationals MP Barnaby Joyce, members of the Labor Party and the cross bench. Mr Wilkie told News Corp Australia he hopes the group will raise the profile of Assange’s case and educate the public.

He believes people who may have been wary of Assange because of the rape allegations levelled against him will change their view when they know what is happening. He said Assange has not been charged with rape and the attempts to extradite him to the US have nothing to do with those allegations. Assange, 48, faces 18 counts in the US including conspiring to hack government computers and violating an espionage law. Australian Barrister Greg Barnes, who is acting as an Adviser to the Assange campaign said: “People are quite naive and misunderstand what is going on.” “If the United States get their way, he will probably be tried in secret, in a kangaroo court and given life in jail.”

The formation of the group comes ahead of Assange’s scheduled court appearance in London on Monday and calls for the Federal Government to intervene on Assange’s behalf. Assange is being detained in one of Britain’s toughest prisons Belmarsh and his legal team have warned his health is deteriorating. A full extradition hearing is not expected to go ahead until February. Mr Barnes said it is the first time that the US has sought to use its laws to prosecute a person who did not commit an act in a US jurisdiction or have any links to the US. “It is a dangerous step and it means that any journalist or person who publishes material deemed to be classified under US espionage laws could be prosecuted irrespective of having any link to the US.”

Read more …