Mar 272020
 

 

 

More People Are Dying Of COVID-19 In The US Than We Know (BF)
We Could Watch Entire Populations Vanish (IC)
Coronavirus Could Kill 81,000 In US, Subside In June – Washington U. (R.)
Hold The Line (M.)
China Promotes Bear Bile As Coronavirus Treatment (NatGeo)
Fed Balance Sheet Tops $5 Trillion For First Time (R.)
Broward Poll Workers Test Positive For COVID-19 (L10)
Moscow Laboratories Will Conduct 13,000 Tests For Coronavirus Every Day (Tass)
New Zealand Coronavirus Deaths During Lockdown Could Be Just 20 – Modelling (G.)
Coronavirus Job Losses Will Raise Mortgage Stress More Than GFC Did (ABC.au)
France, Czechs, & Other US Allies Exit Iraq Over COVID-19 Fears (ZH)
Spike in Unemployment Claims is Even More Horrid Than it Appears (WS)
What Should The EU Do Now: 3-Point Plan For Averting A Depression (Varoufakis)
Dylan Ratigan: “An Abomination Beyond Comprehension” – “Bernie Folded” (Dore)
Muder Most Foul (Bob Dylan)

 

 

A word about testing. There are stories everywhere of people dying without even having beenn tested, and of doctors not getting permission to test. Many countries have a central body that must give permission for a test, and they often don’t until it’s too late in the game (the life). To a larg extent, this is because politicians simply failed to procure test kits. But there’s another thing: political incentives for massive and accurate testing hardly exist at all (in the short term), while incentives for not testing are obvious: you look better.

The UK testing story could change that all, with its potential finger-prick 15 minute test, but only if that test is at least 95% accurate. I know they claim it is, but we’ll have to see. There are stories about Chinese tests that are 30% accurate, and it’s easy to see why that is useless. But I was talking to someone yesterday who said: there are now tests that are fast and 70% accurate! But isn’t that useless too. No, they can do a better test with those who test negative! Yes, but the 70% applies to the positives too… So 70% means you have to retest everyone. And we haven’t even mentioned asymptomatic cases yet…

 

 

Note: we may see the first time that 100,000 new cases come within 24 hours

Cases 542,385 (+ 55,683 from yesterday’s 486,702)

Deaths 24,368 (+ 2,347 from yesterday’s 22,021)

 

 

 

From Worldometer yesterday evening (before their day’s close) US: 17,000 cases in a day

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 16% –

 

 

From SCMP:

 

 

From COVID2019Live.info:

 

 

 

 

Not in the US, everywhere.

More People Are Dying Of COVID-19 In The US Than We Know (BF)

Medical professionals around the US told BuzzFeed News that the official numbers of people who have died of COVID-19 are not consistent with the number of deaths they’re seeing on the front lines. In some cases, it’s a lag in reporting, caused by delays and possible breakdowns in logging positive tests and making them public. In other, more troubling, cases, medical experts told BuzzFeed News they think it’s because people are not being tested before or after they die. In the US, state and county authorities are responsible for collecting data on cases of COVID-19, the disease caused by the novel coronavirus, and deaths. The data is then reported to the Centers for Disease Control and Prevention.

In California, one ER doctor who works at multiple hospitals in a hard-hit county told BuzzFeed News, “those medical records aren’t being audited by anyone at the state and local level currently and some people aren’t even testing those people who are dead.” “We just don’t know. The numbers are grossly underreported. I know for a fact that we’ve had three deaths in one county where only one is listed on the website,” the doctor said. A spokesperson for the California Department of Health told BuzzFeed News in an email that “local health jurisdictions are required to report all positive COVID-19 cases to the state. In addition, when a death or impending death from COVID-19 occurs, health care facilities must immediately notify their local health jurisdiction and the state.”

[..] two of the hardest-hit areas in the nation — New York City and Los Angeles County — released guidance earlier this week encouraging doctors not to test patients unless they think the test will significantly change their course of treatment. That means that potentially more people in both places could be admitted to hospitals with severe respiratory symptoms and recover — or die — and not be registered as a coronavirus case.

Read more …

Africa. Pray.

We Could Watch Entire Populations Vanish (IC)

On March 18, Burkina Faso suffered the first confirmed Covid-19 fatality in all of sub-Saharan Africa. The victim was Rose-Marie Compaoré, the first vice president of the Sahelian nation’s parliament. Tiny, impoverished, and conflict-scarred, Burkina Faso is now West Africa’s worst-affected country, with 146 confirmed cases, including four government ministers. The U.S. ambassador to Burkina Faso, Andrew Young, has also tested positive for the disease. Burkina Faso has seen more than its share of hardships: poverty, drought, hunger, coups. But the coronavirus poses a new kind of threat to a country wracked by a war that has displaced around 700,000 Burkinabe in the last year.

Many of those people now find themselves under great physical and emotional strain, lacking proper shelter, food, and the other necessities — all of which makes them more vulnerable to the pandemic. Experts fear that Covid-19 could decimate entire settlements of Burkina Faso’s displaced, and they are bracing for devastating outbreaks in conflict zones, refugee camps, and the poorest countries in the developing world. Globally, millions of refugees and internally displaced persons, or IDPs, living in cramped, squalid conditions find themselves at risk. “When the virus hits overcrowded settlements in places like Iran, Bangladesh, Afghanistan, and Greece, the consequences will be devastating,” warned Jan Egeland, secretary general of the Norwegian Refugee Council [..] He also spoke of “carnage when the virus reaches parts of Syria, Yemen, and Venezuela where hospitals have been demolished and health systems have collapsed.”

[..] I have no reason to believe Moumoumi Sawadogo had Covid-19 when I met him eight weeks ago in Burkina Faso. After living 89 years in an arid, impoverished land on the fringe of the Sahara Desert, surviving a massacre, walking for a week and enduring hunger and homelessness, it was clear that Sawadogo was a survivor. But Covid-19 posed a different kind of danger. “These populations are already very vulnerable to diseases that are otherwise easy to treat. But that’s not the case when they have no access to water or proper sanitation or health care,” Alexandra Lamarche, senior advocate for West and Central Africa at Refugees International, told The Intercept. “We could watch entire populations vanish.”

Read more …

Modelling is only as good as its initial assumptions. Which in this case come out of hot thin air.

Coronavirus Could Kill 81,000 In US, Subside In June – Washington U. (R.)

The coronavirus pandemic could kill more than 81,000 people in the United States in the next four months and may not subside until June, according to a data analysis done by University of Washington School of Medicine. The number of hospitalized patients is expected to peak nationally by the second week of April, though the peak may come later in some states. Some people could continue to die of the virus as late as July, although deaths should be below epidemic levels of 10 per day by June at the latest, according to the analysis. The analysis, using data from governments, hospitals and other sources, predicts that the number of U.S. deaths could vary widely, ranging from as low as around 38,000 to as high as around 162,000.

The variance is due in part to disparate rates of the spread of the virus in different regions, which experts are still struggling to explain, said Dr. Christopher Murray, director of the Institute for Health Metrics and Evaluation at the University of Washington, who led the study. The duration of the virus means there may be a need for social distancing measures for longer than initially expected, although the country may eventually be able relax restrictions if it can more effectively test and quarantine the sick, Murray said. The analysis also highlights the strain that will be placed on hospitals. At the epidemic’s peak, sick patients could exceed the number of available hospital beds by 64,000 and could require the use of around 20,000 ventilators. Ventilators are already running short in hard-hit places like New York City.

The virus is spreading more slowly in California, which could mean that peak cases there will come later in April and social distancing measures will need to be extended in the state for longer, Murray said. Louisiana and Georgia are predicted to see high rates of contagion and could see a particularly high burden on their local healthcare systems, he added.

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Let the caretakers talk. They need to, and we need to hear them.

Hold The Line (M.)

As an infectious disease epidemiologist (although a lowly one), at this point I feel morally obligated to provide some information on what we are seeing from a transmission dynamic perspective and how they apply to the social distancing measures. Like any good scientist I have noticed two things that are either not articulated or not present in the “literature” of social media. I have also relied on my much smarter infectious disease epidemiologist friends for peer review of this post; any edits are from peer review. Specifically, I want to make two aspects of these measures very clear and unambiguous. First, we are in the very infancy of this epidemic’s trajectory. That means even with these measures we will see cases and deaths continue to rise globally, nationally, and in our own communities in the coming weeks.

This may lead some people to think that the social distancing measures are not working. They are. They may feel futile. They aren’t. You will feel discouraged. You should. This is normal in chaos. But this is normal epidemic trajectory. Stay calm. This enemy that we are facing is very good at what it does; we are not failing. We need everyone to hold the line as the epidemic inevitably gets worse. This is not my opinion; this is the unforgiving math of epidemics for which I and my colleagues have dedicated our lives to understanding with great nuance, and this disease is no exception. I want to help the community brace for this impact. Stay strong and with solidarity knowing with absolute certainty that what you are doing is saving lives, even as people begin getting sick and dying. You may feel like giving in. Don’t.

Second, although social distancing measures have been (at least temporarily) well-received, there is an obvious-but-overlooked phenomenon when considering groups (i.e. families) in transmission dynamics. While social distancing decreases contact with members of society, it of course increases your contacts with group (i.e. family) members. This small and obvious fact has surprisingly profound implications on disease transmission dynamics. Study after study demonstrates that even if there is only a little bit of connection between groups (i.e. social dinners, playdates/playgrounds, etc.), the epidemic isn’t much different than if there was no measure in place. The same underlying fundamentals of disease transmission apply, and the result is that the community is left with all of the social and economic disruption but very little public health benefit. You should perceive your entire family to function as a single individual unit; if one person puts themselves at risk, everyone in the unit is at risk.

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This is about wildlife, not economic pessimists. Just in case you were confused.

China Promotes Bear Bile As Coronavirus Treatment (NatGeo)

Less than a month after taking steps to permanently ban the trade and consumption of live wild animals for food, the Chinese government has recommended using Tan Re Qing, an injection containing bear bile, to treat severe and critical COVID-19 cases. It is one of a number of recommended coronavirus treatments—both traditional and Western—on a list published March 4 by China’s National Health Commission, the government body responsible for national health policy. This recommendation highlights what wildlife advocates say is a contradictory approach to wildlife: shutting down the live trade in animals for food on the one hand and promoting the trade in animal parts on the other. Secreted by the liver and stored in the gallbladder, bile from various species of bears, including Asiatic black bears and brown bears, has been used in traditional Chinese medicine since at least the eighth century.

It contains high levels of ursodeoxycholic acid, also known as ursodiol, which is clinically proven to help dissolve gallstones and treat liver disease. Ursodeoxycholic acid has been available as a synthetic drug worldwide for decades. [..] Traditional Chinese medicine practitioners typically use Tan Re Qing to treat bronchitis and upper respiratory infections. Clifford Steer, a professor at the University of Minnesota in Minneapolis, has studied the medical benefits of ursodeoxycholic acid. He knows of no evidence that bear bile is an effective treatment for the novel coronavirus. But, he says, ursodeoxycholic acid is distinct from other bile acids in its ability to keep cells alive and may alleviate symptoms of COVID-19 because of its anti-inflammatory properties and ability to calm the immune response.

Although use of bear bile from captive animals is legal in China, bile from wild bears is banned, as is the import of bear bile from other countries. According to Aron White, wildlife campaigner for the Environmental Investigation Agency (EIA)—a nonprofit based in London, England, that exposes wildlife crimes—his organization learned first about the Chinese government’s recommendations to treat COVID-19 via social media posts from illegal traders. “We were witnessing how this government recommendation was being coopted by the traffickers to advertise their illegal products as a treatment,” White says. Illegal bile from wild bears is produced in China, he says, and is also imported from wild and captive bears in Laos, Vietnam, and North Korea.

Read more …

If numbers get big enough, they lose meaning.

Fed Balance Sheet Tops $5 Trillion For First Time (R.)

The U.S. Federal Reserve’s balance sheet soared past $5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus pandemic. The Fed’s total balance sheet size exploded by more than half a trillion dollars in a single week, roughly twice the pace of the next-largest weekly expansion in the financial crisis in October 2008. As of Wednesday, the Fed’s stash of assets totaled $5.3 trillion, according to data released on Thursday.

The Fed bought $355 billion of Treasuries and mortgage-backed bonds in the last week in what is now an open-ended commitment to stabilize financial markets rocked by the outbreak and the halt in economic activity that has come in its wake. It also offered more than $200 billion in credit through so-called foreign currency swap lines to other central banks to allow them to pump much-needed greenbacks into their jurisdictions to help foreign borrowers stay current with their dollar-denominated liabilities.

The weekly snapshot of the Fed’s balance sheet, released each Thursday, also showed sizable demand for a pair of brand new liquidity facilities aimed at stabilizing money markets and supporting primary dealers, the banks that transact directly with the central bank. The new Primary Dealer Credit Facility had been tapped for $27.7 billion in loans as of Wednesday, while the Money Market Mutual Fund Liquidity Facility had borrowings of $30.6 billion.

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Which bunch of fools decided to have that vote?

Broward Poll Workers Test Positive For COVID-19 (L10)

Two poll workers have been positively diagnosed with coronavirus, according to a statement from The Broward County Supervisor of Elections. One of the workers was only at Precinct V011 on Tuesday, March 17, Election Day, which is located at the Martin Luther King Community Center in Hollywood. The other worked at V020 at the David Park Community Center (also in Hollywood) as well as a Weston early voting location. The supervisor said that county staff as well as other poll workers at the locations have been notified of the situation. However, voters who were at the polls in person on March 17 at either of those locations or who voted early at the Weston early voting location may “wish to take appropriate steps and seek medical advice.”

Read more …

Because of western testing that may seem like a high number, but it’s not.

Moscow Laboratories Will Conduct 13,000 Tests For Coronavirus Every Day (Tass)

The laboratories in Moscow will carry out up to 13,000 tests for the novel coronavirus per day, Deputy Mayor Anastasiya Rakova said on Thursday. “Last week, only federal laboratories were authorized to conduct tests. We have fully joined this effort, launching nine laboratories. Today we are conducting nearly 4,000 tests for the coronavirus in Moscow laboratories. In the coming week w will boost the capacity to 13,000 [tests] per day,” Rakova told a TV program hosted by Vladimir Solovyov on Rossiya-1 channel. According to Rakova, the authorities were preparing for all scenarios of how the events would unfold. “Increasing the number of people who are to be tested for the coronavirus is a necessary condition and a crucial step for stopping the spread of the virus,” she stressed.


In late December 2019, Chinese authorities notified the World Health Organization (WHO) about the outbreak of a previously unknown pneumonia in the city of Wuhan, central China. Since then, cases of the novel coronavirus – named COVID-19 by the WHO – have been reported in more than 150 countries. [..]Russia has recorded 840 coronavirus cases, with more than half of them in Moscow. Some 38 people have recovered and have been discharged from hospitals, and two people have died.

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When the desire for optimist political messaging becomes fully irresponsible.

New Zealand Coronavirus Deaths During Lockdown Could Be Just 20 – Modelling (G.)

Jacinda Ardern has implored New Zealanders to “stay local” during a four-week countrywide lockdown as modelling showed that strict measures adopted by the country could limit deaths to 0.0004% of the population – or about 20 people. Research released by Te Punaha Matatini suggested that, left unchecked, the virus could eventually infect 89% of New Zealand’s population and kill up to 80,000 people in a worst-case scenario. According to the research, intensive care beds would reach capacity within two months and the number of patients needing intensive care would exceed 10 times capacity by the time the virus peaked.


However, with the strictest suppression measures, which the country has adopted, the fatalities would drop to just 0.0004%. Hospital capacity would not be exceeded for over a year. These measures included physical distancing, case isolation, household quarantine, and closing schools and universities and would require the restrictions to remain in place until a vaccine or other treatment was developed. However, researchers noted such strategies can “delay but not prevent the epidemic”. “When controls are lifted after 400 days, an outbreak occurs with a similar peak size as for an uncontrolled epidemic,” the researchers wrote. The government has currently mandated a four-week lockdown.

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Zero recognition of living in a bubble.

Coronavirus Job Losses Will Raise Mortgage Stress More Than GFC Did (ABC.au)

As job losses continue to rise because of shutdowns in place to fight the coronavirus crisis, the number of Australians struggling to repay their mortgages is expected to lift to higher levels than seen during the global financial crisis. Credit rating agency S&P Global has warned the number of Australians falling behind on their mortgage repayments is likely to soar. “We currently expect increases in arrears to be higher than during the 2008 global financial crisis, given the wide-ranging effects on the economy stemming from the sudden disruption to economic activity,” S&P analyst Erin Kitson said. Australia avoided mass defaults during the GFC, with mortgage arrears rising to 1.69 per cent after the 2008 crisis, from a pre-crisis average of about 1.40 per cent.

The latest S&P data said mortgage arrears were 1.36 per cent in January, up from 1.28 per cent last December. Ms Kitson could not put a number on the exact number of Australian households that would be impacted by arrears but noted that many of those facing difficulty would be the self-employed. But the Federal Government’s stimulus packages and hardship relief measures from banks would limit some of the damage, Ms Kitson added. To fight the economic threat, the Government will announce a third stimulus package, expected within days. Many banks have also recently announced COVID-19 support packages that provide affected borrowers with an option to defer their repayments for up to six months.

The Reserve Bank cuts interest rates to a record low and announces a quantitative easing program for the first time in its history to help prevent a coronavirus-driven recession. And regulator, the Australian Prudential Regulation Authority (APRA), has said if a borrower who has been meeting their repayment obligations until recently chooses to take up the repayment holiday, then the bank need not classify that period as “arrears”. Other emergency measures aimed at banks include an emergency interest rate cut and $90 billion in cheap 0.25-per-cent funding for three years for small business loans.

Read more …

One day the Pentagon stops all troop movements, the next day the US declares Maduro a terrorist, and the allies, want nno part of this.

Seeing your soldiers die of corona would be much too close to WWI mass Spanish flu deaths in the trenches.

France, Czechs, & Other US Allies Exit Iraq Over COVID-19 Fears (ZH)

The United States has shown itself willing to both keep up its ‘maximum pressure’ campaign on Iran and its proxies while riding roughshod over Iraqi sovereignty by remaining in the country even as Baghdad leaders and the broader population demand a final exit. But in another sign Europe is ready to divorce itself from US aims in the region, France has abruptly withdrawn its forces from the country after being there for five years. Interestingly the prime reason given was troop safety concerns over the coronavirus outbreak, but we imagine European leaders likely now see an opportunity to make a swift and easy exit without provoking the ire of their US counterparts. International correspondents say this includes French withdrawal from six bases, with a small contingent of about 100 troops remaining in the country.


The Czech Ministry of Defense also announced the exit of its forces Wednesday, which followed a large contingent of British forces leaving last week, also on fears of coronavirus exposure during the mission. “British, French, Australian and Czech troops who were coaching Iraqi counterparts were being temporarily sent home as Baghdad had put a hold on training operations to prevent the spread of COVID-19,” reports the AFP this week. All had been there to support coalition anti-ISIL operations led by Washington. But as the US mission to defeat the Islamic State has lately become less relevant given the demise of the terror group, Washington’s focus became Iranian influence inside Iraq – far beyond the original mission scope. The US itself had been reportedly drawing down from certain bases, but is not expected to ultimately depart given the current high state of tensions with Iran-backed militias in the country.

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The stimulus bill has opened access to assictance for the entire gig economy.

Spike in Unemployment Claims is Even More Horrid Than it Appears (WS)

This morning, the US Dept. of Labor announced that 3.283 million people had filed initial unemployment claims in the week ended March 21. We were warned yesterday that today’s initial claims would be horrid. In his press conference yesterday concerning the coronavirus, California Governor Gavin Newsom said that California by itself had “just passed the 1 million mark” in unemployment claims since March 13 — and this might include claims to be reflected in the next reporting week. And it’s going to get worse. The five largest counties of the San Francisco Bay Area were the first major region in the US to go into lockdown on March 17. The State of California followed on March 20, toward the end of the unemployment-claims reporting week (through March 21), and many other states followed within days – and many of those claims were filed after this reporting week had ended. This is the mind-blowing effect what started to happen in the week ended March 21:

The report by the Department of Labor this morning listed some sectors that were particularly hard hit by “COVID-19 virus impacts”: • Services industries broadly, particularly accommodation and food services; • health care and social assistance services; • arts, entertainment and recreation; • transportation and warehousing; • manufacturing industries. However, this horrid spike in claims only shows a partial picture. Since the end of that reporting week, lockdowns have spread to many other states, and companies in those states are now struggling with how to cope. Many companies had already laid off people before the lockdowns – and this is reflected in today’s unemployment claims. But much of the fallout from those lockdowns and their secondary effects will be reflected in future reports.


The gig economy, as the US economy has been called due to the growth of business models that shift labor from employees to contract workers, is unprepared for this. Under current rules, gig workers cannot file for unemployment claims – though the stimulus package will change this. And for now, they have not filed for unemployment claims. But their hours of many have been cut, and others lost their gigs entirely. This includes musicians whose gigs were eliminated when bars, restaurants, and clubs shut down. It includers actors and singers and artists. It includes Uber and Lyft drivers whose business has dwindled. It includes self-employed vacation-rental entrepreneurs with some units on Airbnb that no one is booking because the travel industry has shut down. It includes tech workers whose projects have been put on hold. It includes instructors and coaches of all kinds – such as figure skating coaches, language coaches, and corporate coaches. And so on. Many millions of people.

Read more …

The battle between getting closer together and staying further apart. Stuck between social distancing and political distancing.

What Should The EU Do Now: 3-Point Plan For Averting A Depression (Varoufakis)

With Lives, Livelihoods and the Union on the brink, the COVID-19 pandemic is the greatest test of the European project in the history of the Union — and we are failing. Solidarity was meant to be a foundational principle of the EU. But solidarity is missing at the moment it is most needed. COVID-19 has revealed a fundamental truth: Europe is only as healthy as its sickest resident, only as prosperous as its most bankrupted. But the EU’s leadership is paralysed by its beggar-thy-neighbour – and now sicken-thy-neighbour – mindset. The price of this failure will not merely be lives lost and livelihoods destroyed. It will be the disintegration of the Union itself. In line with its Green New Deal for Europe, DiEM25 offers a 3-point plan to protect all European residents, avert an economic depression, and prevent the collapse the Union.

Our plan is premised on four basic facts.
1) Public debt will, and must, rise: The precipitous fall in private sector incomes must be replaced by government expenditure. If not, bankruptcies will destroy much of Europe’s productive capacity and, thus, deplete the tax base even further.

2) The wholesale rise in public debt must not divide us: The last euro crisis wrecked some member-states’ fiscal position while improving the fiscal position of others. The results are wildly different fiscal absorption capacities across the eurozone. If the rise in public debt is not a shared burden, the new euro crisis will destroy the last chance to hold the European Union together once the virus itself has been defeated.

3) A Eurobond is essential, but the devil is in its details: Nine eurozone governments have rightly demanded the issue of a Eurobond so that the burden of rising public debt is shared. But the most important questions remain: Which institution should issue it? And who will back it? DiEM25 believes there is only one answer: an ECB-Eurobond backed solely by the ECB.

4) A Eurobond is essential, but it is not enough: Two more interventions are needed. During the pandemic, Europe must inject directly cash into every citizen’s bank account immediately so as to prevent as many bankruptcies and lost livelihoods as possible. Once the pandemic recedes, Europe must embark upon a sizeable, effective and common green investment program so as to improve Europe’s overall capacity to bounce back.

Read more …

I haven’t had time to listen to the whole thing. But I miss Dylan Ratigan.

Dylan Ratigan: “An Abomination Beyond Comprehension” – “Bernie Folded” (Dore)

Jimmy Dore talks to Dylan Ratigan

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In the midst of the corona crisis,, Bob Dylan dropped a 17-minute song, on the murder of JFK. It’s his first original song in 8 years, and also of course since getting the Nobel Prize.. And why not. For help with lyrics go here

The day that they killed him, someone said to me, ‘Son
The age of the Antichrist has only begun.’
Air Force One coming in through the gate
Johnson sworn in at 2:38
Let me know when you decide to thrown in the towel
It is what it is, and it’s murder most foul


What’s new, pussycat? What’d I say?
I said the soul of a nation been torn away
And it’s beginning to go into a slow decay
And that it’s 36 hours past Judgment Day

Muder Most Foul (Bob Dylan)

Read more …

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Thanks everyone for your wonderful donations over the past few days.

 

 

 

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Mar 272020
 


Rembrandt van Rijn Portrait of his father 1628-29

 

I was following the numbers all afternoon, because I knew this was going to be the day that the US would become the no. 1. The no. 1 loser, that is. Here’s some of what I wrote in the Automatic Earth Comments section as we went along:

500,000 global cases was at noon EDT. 3.5 hours later there were another 20,000. [..] At 12.38 pm the US was 6,300 cases behind China. That is now 1,200.

God’s Own Country will take the definite no. 1 position sometime this afternoon, and then run away with it. The US has many fewer fatalities so far, but there, too, it will come out on top.

All this is why America pronounced Nicolas Maduro a drug trafficker and narco-terrorist today.

The US took the topspot at about 3pm. That done and achieved, I realize I’ve been so busy lately documenting the spread of the coronavirus and -some of- its consequences that the next steps in the demise, though clearly visible, risk going unnoticed.

But then I saw that the US is charging Venezuelan President Nicolas Maduro with drug trafficking (narco-terrorism?!), and I was wide awake again. Why does the US, on the verge of becoming the worst hit “corona country”, charge him now, of all possible times, when they could have done it any given day for the past 7 years? Well, exactly because of the corona threat.

And I don’t think this is Trump; he may take a political hit, but he only has to do better than Joe Biden, and anybody could do that. This smells much more like some deep state thing, Mike Pompeo and his crew.

 

In their phone alerts, CNN had a few real howlers as the day went by.

“Health officials say the peak is yet to come”

“Stocks see third day of gains”

Meanwhile, it took them hours to clue into the fact that the US had become the no. 1. But it’s that second point that warrants scrutiny. In the expectation and the “fulfillment” of the $6 trillion “stimulus” package, stocks managed to rise. Yay! But that no. 1 position won’t leave any of that standing. No sirree.

The US is no longer capable of formulating and negotiating adequate legislation even in times of real crisis. And it’s not that it’s GOP against Dems, and one would do everything so much better than the other. It’s one set of special interests against another, and in the end both win. And there is no escape left from that.

I said earlier about the stimulus that such a package in the US today is possible only provided that the rich get 1000 times what the poor get. That’s the only way to get those $1,500 checks to people who actually need them. For every such check a million bucks goes to the rich and powerful.

And if only they were also 1000 times more likely to catch the coronavirus, at least we would have a sense of justice. But no such luck.

 

What the stimulus will really end up doing is it will expose the Fed. You can talk about unlimited QE all you want, but talk enough and it will lose all meaning. I’ve long said that there are no markets left because there is no price discovery, and lately I’ve seen many people saying exactly that, just much later.

The stimulus really only serves to take even more price discovery away, if that was still possible. And that’s it. The rich will be handed hundreds of billions with nowhere to go. The losses in the stock “markets” lately have been staggering, trillions were lost. But then you look at a graph and you think holy sh*t, there’s so much more to go, so much more downside before we get to anything resembling normal. This was two weeks ago:

 

 

Markets as they -used to- exist under capitalism can be an awesome instrument, because there is such a multitude of participants. However, when you start trying to control the “markets” because sometimes they fall a little and you don’t like that, you unleash formidable forces that are also part of that instrument. Like so many natural phenomena, they will tend towards a balance, and you can’t stop that. Not for long.

The process that looks like it may end soon started under Alan Greenspan and the housing bubbles he blew, and the seeds of the demise were sown right then and there. Now that $6 trillion has been thrown at the wall that won’t stick, what is next?

The Fed policies (and I include most other central banks under that moniker) worked for a while because the QE’s and the ultra low rates supported banks and other enterprises that were essentially zombies. They also “zombified” many other companies that might have been able to survive without them. Look at Boeing.

Look at Apple. They look like a great company but what are their shares worth? Nobody knows, because they bought back too many of them to make price discovery viable. So at least part of Apple looks great only because of trickery, not because of great products. Steve Jobs is turning in his grave as we speak.

 

And now the zombies may be killed off by a virus. Just not if the Fed can help it. But if America runs away with that top spot hard enough, if tens of thousands of new cases become a daily occurrence (we’re at 17,000 so far today), and the first ten thousand fatalities are counted, the country will be locked down and the “markets” will fall off a cliff.

Unless, and that what I’m starting to fear may happen, the powers that be see no other choice than to close the “markets”. That will mean the entire financial system is on the brink of collapse. It would be announced as temporary, but the damage would be done. Everything would turn into one giant margin call, banks would be forced to close, the works, a real depression.

Let’s hope that none of this happens, but the signs are not favorable. America appears much less prepared for a pandemic than even Lombardy was, with too little or too late of everything, ventilators, masks, protective clothing, medicine, you name it. You can’t run an economy in a setting like that.

But at least you’ll be rid of the zombies. It’s a shame, really, that there is no virus that kills only zombies, that so much else must be destroyed with them. The thing is, we did have these instruments to kill zombies, they were called central banks. Should have used them when we had the chance.

 

Our readership is up a lot, but ad revenue only keeps dropping. I’ve said it before, it must be possible to run a joint like 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?

You heard it here first, like so many other things. And no, though it would be far more lucrative financially, the Automatic Earth will not adopt any paywalls, not here and not on Patreon. But you can still support us there, as well as right here. It’s easy. Thanks everyone for your donations overnight.

 

 

 

 

 

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

 

Mar 262020
 

 

 

1/4 of $2 Trillion Stimulus Bill Devoted to Useless Accounting Gimmick (Tankus)
At Least 13 Patients Die From Coronavirus In One Day At New York Hospital (CNN)
Worker At NYC Hospital Where Nurses Wear Trash Bags As Protection Dies (NYP)
UK Coronavirus Mass Home Testing To Be Made Available ‘Within Days’ (G.)
NHS Could Soon Exceed Capacity – Chief Medical Officer (Ind.)
How Did Spain Get Its Coronavirus Response So Wrong? (G.)
Bahrain, Belgium Report Hydroxychloroquine Treatment Is Working For Patients (JTN)
Gilead Sciences Backs Off Monopoly Claim For Promising Coronavirus Drug (IC)
How Big Science Skipped Clinical Trials After Past Coronavirus Outbreaks (JTN)
Trump’s Deadly Mistake In Comparing Coronavirus To Flu (IC)
Cairo, The City That Never Sleeps, Shuts For Coronavirus Night-Time Curfew (R.)
Crisis Daddy Cuomo Uses Coronavirus For New York Bail Reform Rollback (IC)
California Sees 1 Million Unemployment Claims In Less Than Two Weeks (CNBC)
Pentagon Orders A Stop-Movement For All Overseas Troops (JTN)
Judge Refuses To Release Julian Assange Over Coronavirus Risk (Ind.)
US High Court Rejects Call To Free 736 Detainees At Risk From Coronavirus
Time’s Up Said It Could Not Fund #MeToo Allegation Against Joe Biden (IC)

 

 

And we just keep goig. The US had about 53,000 cases 24 hours ago, it is now at 68,000. Not enough to get to 100,000 by tomorrow, but still much faster than China ever was, apart from the day when Beijing did a major calculating correction.

The world will reach 500,000 cases today, little more than one day after 400,000 was passed.

Be very careful out there!

 

 

Cases 486,702 (+ 52,134 from yesterday’s 434,568)

Deaths 22,021 (+ 2,959 from yesterday’s 19,062)

 

 

 

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

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 16% !! Still up 1% per day-

 

 

From SCMP:

 

 

From COVID2019Live.info:

 

 

From COVID2019.app:

 

 

 

 

There can be only one conclusion: the US is no longer capable of passing appropriate legislation even in a crisis. Money for the poor? Only if the rich get 1000x as much.

This is an interesting piece. Way beyond the scope of the MSM.

1/4 of $2 Trillion Stimulus Bill Devoted to Useless Accounting Gimmick (Tankus)

Earlier this week I wrote about the Trillion dollar platinum coin. Using the coin to fund government spending is often dismissed as an “accounting gimmick”. Yet, accounting gimmicks are already at the center of the Stimulus Bill being debated in congress tonight. 454 billion of the reported 2 Trillion dollars is going to “make loans and loan guarantees to, and other investments in, programs or facilities established by the Board of Governors of the Federal Reserve System”. This is an accounting gimmick. Yet Larry Kudlow (director of the National Economic Council) points to it as one of the most important provisions in the bill.

“And finally, I want to mention, the Treasury’s Exchange Stabilization Refund. That will be replenished. It’s important, because that fund opens the door for Federal Reserve firepower to deal a broad-based way throughout the economy for distressed industries, for small businesses, for financial turbulence. You’ve already seen the Fed take action. They intend to take more action. And in order to get this, we have to replenish the Treasury’s Emergency Fund. It’s very, very important; not everybody understands that. That fund, by the way, will be overseen by an oversight board and an inspector general. It will be completely transparent.”

Why does he think it’s important? It’s not exactly clear but it seems that the Trump administration along with the Federal Reserve believe that they do not have the authority to launch the facilities they’ve been launching (partially described in the last post) without special purpose vehicles created by the Treasury. That doesn’t explain why they need money put into a Treasury fund under the discretion of secretary Mnuchin though. Why do they think they need the money? This isn’t clear either but it almost certainly has to do with the Federal Reserve’s net worth. It is a common trope of mainstream economists that it is very important for the central bank to have a positive net worth. If their net worth goes negative, then it should be “recapitalized” by the federal government.

[..] the argument that the net worth of the Federal Reserve matters don’t hold up to very much scrutiny, especially when one is familiar with the legal structure of the Federal Reserve. Yet, this is likely the motivation behind the nearly 500 billion dollars the “stimulus bill” provides the Treasury to support Federal Reserve lending programs. There is no statute, court case or any other binding legal constraint (as far as I can tell at least) that requires the Federal Reserve to have a positive net worth. In fact, it has control over its own accounting rules and as part of its own rules can book its obligation to pay remittances from net income to the Treasury as a “negative liability” (and thus effectively an asset) if its net income falls below zero.

Read more …

First corona case in New York was on March 1. This hasn’t even begun.

At Least 13 Patients Die From Coronavirus In One Day At New York Hospital (CNN)

At least 13 patients have died from Covid-19 at Elmhurst Hospital in New York, a statement from a spokesman said, as one of the hardest hit states sees a surge in cases. The deaths of the patients took place over the last 24 hours, but NYC Health and Hospitals/Elmhurst said in a statement that number is consistent with the number of Intensive Care Unit patients being treated there. “Staff are doing everything in our power to save every person who contracts Covid-19,” the statement said. New York has more than 30,000 of the nation’s more than 65,000 coronavirus cases, and 285 of its residents have died from the virus. The state has called for tens of thousands more ventilators, hospital beds and intensive care beds to meet the needs of their hospitals.

Elmhurst is at the center of the crisis, the statement said, and staff is working to overcome the overwhelming numbers. “The frontline staff are going above and beyond in this crisis, and we continue surging supplies and personnel to this critical facility to keep pace with the crisis,” the statement said. “We are literally increasing the effective capacity of the hospital on a daily basis by sending more doctors, nurses, ventilators and PPE to meet demand.” New York has ordered residents to stay at home to curb the spread of the virus and hopefully ease pressures on healthcare systems. And though Gov. Andrew Cuomo pointed to Westchester County — home to the state’s first severe outbreak in New Rochelle — as a marker for the effectiveness of social distancing, cases continue to climb.

Estimates from Sunday showed coronavirus hospitalizations were doubling every 2 days, he said. But Monday’s estimates showed hospitalizations were doubling every 3.4 days, and Tuesday’s estimates showed hospitalizations were doubling every 4.7 days.

Read more …

Welcome to Bergamo, Lombardy.

Worker At NYC Hospital Where Nurses Wear Trash Bags As Protection Dies (NYP)

The shortage of safety gear at one Manhattan hospital is so dire that desperate nurses have resorted to wearing trash bags — and some blame the situation for the coronavirus death of a beloved colleague. A stunning photo shared on social media shows three nurses at Mount Sinai West posing in a hallway while clad in large, black plastic trash bags fashioned into makeshift protective garb. One of them is even holding the open box of 20 Hefty “Strong” 33-gallon garbage bags they used to cloak themselves. “NO MORE GOWNS IN THE WHOLE HOSPITAL,” the caption reads. “NO MORE MASKS AND REUSING THE DISPOSABLE ONES…NURSES FIGURING IT OUT DURING COVID-19 CRISIS.”

The caption includes such hashtags as #heftytotherescue, #riskingourlivestosaveyours and #pleasedonateppe, with the “ppe” referring to “personal protective equipment.” Meanwhile, staffers at the hospital near Columbus Circle on Wednesday tied the lack of basic supplies there to the death of assistant nursing manager Kious Kelly, who tested positive for coronavirus about two weeks ago. Kelly, 48, was admitted to Mount Sinai’s flagship hospital on the Upper East Side on March 17 and died Tuesday night, the workers said. “Kious didn’t deserve this,” one nurse said. “The hospital should be held responsible. The hospital killed him.”

Another nurse described “issues with supplies for about a year now,” during which it got “to the point where we had to hide our own supplies and go to other units looking for stuff because even the supply room would have nothing most of the time.” “But when we started getting COVID patients it became critical,” the nurse said. The nurse sources said they were using the same PPE between infected and non-infected patients and, because there were no more spare gowns in the hospital, they took to wearing trash bags to stop the spread of infection.


Nurses at Mount Sinai West, where Kelly worked, are being forced to wear trash bags due to the lack of protective gear there.

Read more …

Hot air only?

UK Coronavirus Mass Home Testing To Be Made Available ‘Within Days’ (G.)

Thousands of 15-minute home tests for coronavirus will be delivered by Amazon to people self-isolating with symptoms or will go on sale on the high street within days, according to Public Health England (PHE), in a move that could restore many people’s lives to a semblance of pre-lockdown normality. [..] The UK government has bought 3.5m tests, which the health secretary, Matt Hancock, mentioned on Tuesday with no suggestion that they would be available to the public so quickly, and is ordering millions more. Asked if they would be available in days rather than weeks or months, Peacock said: “Yes, absolutely.” If there was a charge for them, she thought it would be minimal, she said.


Widespread availability of a fingerprick test that produces results in 10 to 15 minutes is a game-changer. NHS doctors and nurses with symptoms will know immediately whether they have – or have recovered from – Covid-19, enabling them to get back to work sooner. The UK is not the only country ordering in the antibody tests. “Tests are being ordered across Europe and elsewhere and purchased in south-east Asia. This is widespread practice. We are not alone in doing this,” said Peacock.

Read more …

Could=will.

NHS Could Soon Exceed Capacity – Chief Medical Officer (Ind.)

It will be a “close run thing” whether the NHS capacity will be exceeded over the coming weeks because of the coronavirus outbreak, chief medical officer Chris Whitty has said. At a press conference in 10 Downing Street, Prof Whitty said that there was not currently “enormous” pressure on critical care beds within the health service, despite a total of more than 8,000 patients testing positive for coronavirus across the UK. But he said that he could not guarantee that bed spaces would not run out within the next three weeks. The NHS has more than 4,000 critical care beds in normal times and efforts are under way to accommodate the expected surge in additional coronavirus patients by using private sector facilities and discharging patients able to go home.

The ExCel exhibition centre in east London is being converted into a field hospital which will eventually be able to take 4,000 patients during the outbreak. Prof Whitty said: “The NHS is increasing supply by a combination of pushing out in time things which can be postponed and increasing the critical care and particularly the ventilated bed capacity over the next weeks.” But he added: “This is going to be a close run thing, we all know that. “And anybody who looks around the world can see this is going to be difficult for every health system.”

Prof Whitty said that the lockdown announced by prime minister Boris Johnson on Monday, requiring people to stay at home as much as they can and avoid social contact, should help relieve pressure on bed spaces by reducing the rate of infection, while the NHS works rapidly to increase capacity. “That is the way that we will narrow this down to the smallest possible gap over the next three weeks,” he said.

Read more …

Time to look at different strains of the virus. Just to be sure. Also, nnext week in the same Guardian: “How Did Britain Get Its Coronavirus Response So Wrong?”.

How Did Spain Get Its Coronavirus Response So Wrong? (G.)

It is one of the darkest and most dramatic moments in recent Spanish history. In the chilling table of daily dead from the coronavirus pandemic, Spain has taken top position from Italy – with 738 dying over 24 hours. Spain is now the hotspot of the global pandemic, a ghoulish title that has been passed from country to country over four months – starting in Wuhan, China, and travelling via Iran and Italy. As it moves west, we do not know who will be next. What went wrong? Spain had seen what happened in China and Iran. It also has Italy nearby, just 400 miles across the Mediterranean and an example of how the virus can spread rapidly and viciously inside Europe.

Yet Spaniards cannot blame that proximity. There are no land borders with Italy, while France, Switzerland, Austria and Slovenia – all countries that are doing much better – do have them. This may, in fact, be one of the reasons for the country’s late response. Spain thought it was far enough away. “Spain will only have a handful of cases,” said Dr Fernando Simón, the head of medical emergencies in Madrid, on 9 February. Six weeks later he gives out daily figures of hundreds of deaths. The number of dead per capita is already three times that of Iran, and 40 times higher than China. On 19 February, 2,500 Valencia soccer fans mixed with 40,000 Atalanta supporters for a Champions League game in Bergamo which Giorgio Gori, mayor of the Italian city, has described as “the bomb” which exploded the virus in Lombardy.

In Spain, Valencia players, fans and sports journalists were amongst the first to fall ill. The main reason for the quick spread through Spain may be completely mundane. It has been an unusually mild, sunny Spring. In late February and early March, with temperatures above 20C (68F), Madrid’s pavement cafes and bars were heaving with happy folk, doing what Madrileños like best – being sociable. That means hugging, kissing and animated chatter just a few inches from someone else’s face. On 8 March, just a week before the country was closed down, sports events, political party conferences and massive demonstrations to mark International Women’s Day all took place. Three days later, about 3,000 Atlético de Madrid fans flew together for another Champions League match in Liverpool.

[.] The virus has laid bare, too, deep faults in the Spanish care system. Private old people’s homes must turn a profit while charging people prices they can afford – which may be a basic pension of just over 9,000 euros. As a result, these were understaffed, unprepared and quickly overwhelmed, with death rates of up to 20%. The army was sent in, and found some people lying dead in their beds. Spain has a magnificent primary care system, but its hospitals have been hit by a decade of austerity since the financial crisis. It has only a third of the hospital beds per capita that are provided by Austria or Germany. Yet that is still more than the UK, New Zealand or the US.

Read more …

How much of the recent bad rap is coming from Big Pharma, which can’t make a dime on the stuff?

Bahrain, Belgium Report Hydroxychloroquine Treatment Is Working For Patients (JTN)

Bahrain and Belgium report their hospitals are successfully treating coronavirus patients with the anti-malaria drug hydroxychloroquine touted by President Trump as a possible breakthrough in the pandemic. The Kingdom of Bahrain’s Supreme Council of Health chairman said his country was among the first to use the drug and that its impact has been “profound,” according to the Bahrain News Agency. Dr. Shaikh Mohamed, who leads the National Taskforce for Combating COVID-19, was also quoted by the news agency as saying hydroxychloroquine was administered according to the same regimens as those used in China and South Korea. The first COVID-19 case in Bahrain was reported on Feb. 21, and hydroxychloroquine was first administered to patients showing virus symptoms on Feb. 26.


Bahrain has 419 deaths as a result of the virus, behind Croatia with 442 deaths worldwide, according to the Johns Hopkins Coronavirus Research Center. Hydroxychloroquine is used to prevent and treat malaria and is administered to patients with rheumatoid arthritis or lupus. Meanwhile in Europe, another U.S. ally, Brussels, is reporting similar early success with the same drug and is taking steps to ensure its availability for the sickest coronavirus patients. “Using the limited stocks of these medicines for unnecessary or unjustified preventive treatments jeopardizes the availability of these medicines for patients who need them: chronic patients and hospital patients seriously affected by Covid-19,” Belgium’s Federal Agency for Medicines and Health Products said this week.

Read more …

What a bit of bad publicity won’t do…

Gilead Sciences Backs Off Monopoly Claim For Promising Coronavirus Drug (IC)

Gilead Sciences on Wednesday announced that it has submitted a request to the Food and Drug Administration to rescind the exclusive marketing rights it had secured for remdesivir, an antiviral drug that shows promise in treating Covid-19, the disease caused by the new coronavirus. As The Intercept reported on Monday, the FDA had awarded Gilead seven years of exclusive marketing rights to the drug through the Orphan Drug Act, even though the statute was designed to induce pharmaceutical companies to make treatments for rare diseases that affect fewer than 200,000 people in the United States. Although the new coronavirus will almost certainly infect that many people, Gilead had exploited a loophole that grants orphan drug status if a company files for it before the official number of cases hits 200,000.


As of Wednesday afternoon, there were more than 438,000 confirmed cases worldwide, with more than 59,000 in the United States. After a public outcry, Gilead issued a press release stating: “Gilead has submitted a request to the U.S. Food and Drug Administration to rescind the orphan drug designation it was granted for the investigational antiviral remdesivir for the treatment of Covid-19 and is waiving all benefits that accompany the designation. Gilead is confident that it can maintain an expedited timeline in seeking regulatory review of remdesivir, without the orphan drug designation. Recent engagement with regulatory agencies has demonstrated that submissions and review relating to remdesivir for the treatment of Covid-19 are being expedited.”

Read more …

It’s all about money, and only about money. Even at this point.

How Big Science Skipped Clinical Trials After Past Coronavirus Outbreaks (JTN)

Equally alarming was the lack of followup after early drug studies found some promising treatments that worked anecdotally during the SARS outbreak in 2003, two smaller coronavirus outbreaks in 2004-05, and MERS in 2012. The anti-malarial drug known as chloroquine was one of a handful flagged as a potential treatment. One such study in 2005 found “chloroquine has strong antiviral effects on SARS-Cove infection of primate cells. These inhibitory effects are observed when the cells are treated with the drug either before or after exposure to the virus, suggesting both prophylactic and therapeutic advantage.” The 2005 study concluded: “Chloroquine is effective in preventing the spread of SARS CoV in cell culture. Favorable inhibition of virus spread was observed when the cells were either treated with chloroquine prior to or after SARS CoV infection.”

Similarly, in 2009 the University of Leuven in Belgium published “Antiviral Activity of Chloroquine against Human Coronavirus OC43 Infection in Newborn Mice,” which warned of a failure to follow up on possible treatments. “Although coronaviruses have been recognized as human pathogens for about 50 years, no effective treatment strategy has been approved,” the authors wrote. “This shortcoming became evident during the SARS-CoV outbreak and was the start of numerous studies. Nevertheless, 5 years after the outbreak, we are still lacking an effective, commercially available drug. Chloroquine is a clinically approved drug effective in malaria, and it is known to elicit antiviral effects against several viruses.” Such promise and warnings never translated into action, and as a result more detailed clinical trials that could validate or rule out treatments were never carried out.

To understand why, former Health and Human Service Secretary Tom Price said, one must understand the economics and psychology of private and government medical research. One-time treatments that have no long-term commercial market don’t excite pharmaceutical companies in the business of making profits. And federal scientists always like jumping to the next big viral fire instead of finishing work on an earlier outbreak that fizzled like SARS, he explained. “One would think that those studies would have been completed before now,” said Price, a doctor himself and a former congressman. “However, the extent of SARS was relatively small and short-lived. Once the threat passed, there was no economic incentive for pharmaceutical companies to complete human trials, and governmental attention, research and inertia moved in a different, seemingly more urgent, direction.”

Read more …

That’s literally what I said last week: “Comparing Covid-19 and flu numbers is a classic case of apples to oranges, according to public health experts and epidemiologists.”

Still, if this is Trump’s deadly mistake, he shares that feat with about a billion other people.

Trump’s Deadly Mistake In Comparing Coronavirus To Flu (IC)

The President of the United States compared the coronavirus to the flu this week, and the new virus that has already stricken more than 55,000 people and killed more than 800 across the country came out looking relatively innocuous. “We have a lot of people dying from the flu, as you know,” Donald Trump told reporters at the White House, as his attorney general, William Barr, stood far less than 6 feet behind him. “It looks like it could be over 50,000,” he said about the current flu season, later clarifying that he was referring to deaths from the flu, “not cases, 50,000 deaths, which is a lot.” But the number Trump cited does not reflect people dying from verified cases of the flu. According to data from the CDC, 7,428 deaths from the flu were confirmed by a lab test for that virus in 2019.


If you add in the 3,771 test-confirmed deaths already tallied in 2020, the total number of deaths that can be definitively tied to the flu is 11,199. The much higher number Trump used comes from the possible range of deaths attributable to flu this season — 23,00 to 59,000 — a number that the CDC estimates in part by including people who die from pneumonia even if they weren’t tested for the flu virus. Trump contrasted the high flu numbers — along with automobile accidents, which he said were “far greater than any numbers we’re talking about” — to the number of Covid-19 cases in part to emphasize his administration’s success in responding to the deadly virus. “I think we’re doing a very good job of it,” he said, going on to describe the number of cases in the U.S. as “pretty amazing.”

Read more …

Maybe some cities should sleep a bit more?

Cairo, The City That Never Sleeps, Shuts For Coronavirus Night-Time Curfew (R.)

Egypt and its capital Cairo, a mega-city home to some 20 million people, shut down on Wednesday evening as authorities launched a night-time curfew to tackle the spread of the coronavirus. In a city that never sleeps where restaurants and cafes are usually open until the wee hours, shop owners were closing shutters and commuters rushing home before the start of the 7 p.m. curfew that runs until 6 a.m. Policemen were posted on key roads to stop any violators. Many streets were already almost deserted by 6:30 p.m. “This is a disease, not a joke. People must stay at home, and should not leave their houses after curfew hours,” Mohamed El-Gabaly, a Cairo resident, told Reuters, as he stood in a major street with little traffic just before the curfew.


Egypt has stepped up measures aimed at preventing the spread of the coronavirus – closing airports and gyms, as well as suspending classes at schools and universities until mid-April. Restaurants are restricted to just delivering food. Shops other than supermarkets and pharmacies will be required to close at 5 p.m. on weekdays, two hours earlier than the previous curfew, as well as on weekends. Egypt, a country of 100 million, has reported 456 confirmed cases of the coronavirus and 21 deaths.

Read more …

Andrew the Jailer.

Crisis Daddy Cuomo Uses Coronavirus For New York Bail Reform Rollback (IC)

As the coronavirus pandemic grips the United States, prosecutors, sheriffs, and public officials have raced to reduce the populations held in local jails, where it is next to impossible to protect elderly and otherwise vulnerable incarcerated people. In New York, however, Gov. Andrew Cuomo is bucking this trend, pushing for a new law that would roll back newborn bail reforms that went into effect in January and instead expand judges’ power to put defendants in jail. Cuomo has backed this agenda for years, but his evident insistence on including it in the state’s budget negotiations amid a public health crisis is nonetheless remarkable.

“Every other elected official across the country is thinking about how they can reduce their jail and prison population,” Rena Karefa-Johnson, the New York state director for criminal justice reform for the advocacy group FWD.us, said in an interview. “But in New York, we have elected officials still trying to change legislation that would put thousands more people back in jail and slowing up an emergency budget process to do it. It’s wildly out of step with what’s happening across the country, and it’s wildly at odds with this narrative of New York taking Covid-19 seriously and keeping people safe. It’s bonkers.” The governor’s move comes as his power is ascendant. Cuomo has always wanted to be a crisis governor, engaging in well-documented disaster heroics whenever roadways get slippery.

But that instinct, risible in peacetime, is playing differently in the pandemic. People in New York and around the country are terrified, and the erratic federal response under President Donald Trump has been far from reassuring. Cuomo’s sober, authoritative daily briefings have filled the vacuum. In the last weeks, Cuomo has become America’s Governor, its crisis daddy. In recent days the hashtag #PresidentCuomo has been trending on Twitter. With his popularity soaring, and his constituents preoccupied with looming mass fatalities as the coronavirus threatens to overwhelm the state’s health care capabilities, Cuomo is well positioned to drive through his preferred agenda with hardly anyone noticing.

Read more …

This, too, has only just begun.

California Sees 1 Million Unemployment Claims In Less Than Two Weeks (CNBC)

California Gov. Gavin Newsom said Wednesday that the state has seen 1 million unemployment claims in less than two weeks as the coronavirus pandemic has led to businesses being shut down across the state. “We just passed the 1 million mark, in terms of the number of claims, just since March 13,” Newsom said. Newsom’s announcement comes one day before a key national data release on new jobless claims for the United States, which some have projected to be in the multimillions. The initial claims data has never before surpassed 1 million, and it was 285,000 last week.

The San Francisco area was the first region in the country to install a “shelter-in-place” order, on March 16. Newsom signed a “stay-at-home” order for the whole state three days later. The governor praised the proposed Senate relief bill to help fight the coronavirus pandemic. California provides up to $450 per week for unemployment insurance, Newsom said, and the proposed Senate bill would add $600 per week for up to four months. “This bill will be very helpful, and it’s very timely,” Newsom said. California and its cities will get $10 billion from a block grant portion of the proposed relief bill in the Senate, not including the benefits to workers and individuals, Newsom said.

Read more …

But don’t be surprised if they invade Iran or Venezuela tomorrow morning. And they call this message a great tactical move.

Pentagon Orders A Stop-Movement For All Overseas Troops (JTN)

The Pentagon on Wednesday issued a stop-movement order for all overseas military personnel and civilians for the next 60 days. The measure, designed to prevent the spread of the coronavirus pandemic, follows a previous order that puts a hold on troop movements within the United States. The newly issued order is meant to protect U.S. personnel, and preserve operational readiness, the Pentagon said. The order will interrupt scheduled exercises, deployments, and other overseas activities. “Approximately 90,000 Service Members slated to deploy or deploy over the next 60 days will likely be impacted by this stop movement order,” the statement read. The order includes exceptions for some personnel, including those who currently are traveling. The order is not expected to interfere with the drawdown of U.S. forces from Afghanistan, according to the statement.

Read more …

When the judge is a murderer.

Judge Refuses To Release Julian Assange Over Coronavirus Risk (Ind.)

A judge has refused to release Julian Assange from prison over the coronavirus outbreak. The Wikileaks founder’s lawyers had applied for him to be freed on bail because he was “vulnerable” to the virus inside HMP Belmarsh. He is being held there while awaiting potential extradition to the US on charges relating to the 2010 Wikileaks publications over the Iraq and Afghanistan wars. Mr Assange at Westminster Magistrates’ Court by video-link on Wednesday and was represented by Edward Fitzgerald QC, who wore a surgical mask. The court heard that despite coronavirus being confirmed in other jails, there were not yet an known cases in HMP Belmarsh. But Mr Fitzgerald said that 100 prison officers were off work, adding: “We say there’s a very real problem, a very real risk and the risk could be fatal.”


District judge Vanessa Baraitser refused the bail application, telling the court: “As matters stand today, this global pandemic does not of itself yet provide grounds for Mr Assange’s release.” Supporters of Mr Assange said he had a previously reported lung complaint and was in an “already weakened medical condition”. Kristinn Hrafnsson, editor in chief of Wikileaks, said: “To expose another human being to serious illness, and to the threat of losing their life, is grotesque and quite unnecessary. This is not justice, it is a barbaric decision.” American and British authorities class Mr Assange as a flight risk because he skipped bail over Swedish sexual assault allegations to flee to London’s Ecuadorian embassy in 2012.

Read more …

At least 2 prisoners have already died from the virus in UK jails. 350 have been released.

US High Court Rejects Call To Free 736 Detainees At Risk From Coronavirus

The high court has rejected calls to free hundreds of immigration detainees who, lawyers and human rights activists say, are at risk from Covid-19 while behind bars. The ruling, following a hearing over Skype on Wednesday, was handed down in response to an urgent legal challenge from Detention Action. The legal action asked for the release of hundreds of detainees who are particularly vulnerable to serious illness or death if they contract the virus because of particular health conditions, and also for the release of those from about 50 countries to which the Home Office is currently unable to remove people because of the pandemic. The two judges – Dame Victoria Sharp, president of the Queen’s Bench division, and Mr Justice Swift – came down strongly on the side of the Home Office and highlighted the range of measures already being implemented by the home secretary, Priti Patel.


These included the release of more than 300 detainees last week, ongoing assessments of the vulnerability of individual detainees to the virusand a range of “sensible” and “practical” steps the Home Office is taking to make detention centres safer, such as single occupancy rooms and the provision of face masks for detainees who wish to wear them. “It seems likely that the arrangements already in place by the secretary of state will be sufficient to address the risks arising in the majority of cases,” the judges said, adding that “the present circumstances are exceptional”. The court hearing on Wednesday heard that 736 people are still being detained in the UK, while 350 have been released in recent days. It was also confirmed that detainees in three detention centres have displayed symptoms of Covid-19.

Read more …

#MeToo, but not you.

Time’s Up Said It Could Not Fund #MeToo Allegation Against Joe Biden (IC)

Last April, Tara Reade watched as a familiar conversation around her former boss, Joe Biden, and his relationship with personal space unfolded on the national stage. Nevada politician Lucy Flores alleged that Biden had inappropriately sniffed her hair and kissed the back of her head as she waited to go on stage at a rally in 2014. Biden, in a statement in response, said that “not once” in his career did he believe that he had acted inappropriately. But Flores’s allegation sounded accurate to Reade, she said, because Reade had experienced something very similar as a staffer in Biden’s Senate office years earlier.

After she saw an episode of the ABC show “The View,” in which most of the panelists stood up for Biden and attacked Flores as politically motivated, Reade decided that she had no choice but to come forward and support Flores. She gave an interview to a local reporter, describing several instances in which Biden had behaved similarly toward her, inappropriately touching her during her early-’90s tenure in his Senate office. In that first interview, she decided to tell a piece of the story, she said, that matched what had happened to Flores — plus, she had filed a contemporaneous complaint, and there were witnesses, so she considered the allegation bulletproof. The short article brought a wave of attention on her, along with accusations that she was doing the bidding of Russian President Vladimir Putin. So Reade went quiet.

[..] As the campaign went on, Reade [..] began to reconsider staying silent. She thought about the world she wanted her daughter to live in and decided that she wanted to continue telling her story and push back against what she saw as online defamation. To get legal help, and manage what she knew from her first go-around would be serious backlash, she reached out to the organization Time’s Up, established in the wake of the #MeToo movement to help survivors tell their stories. The Time’s Up Legal Defense Fund was the recipient of an outpouring of donations over the past two-plus years, and is set up as a 501(c)3 nonprofit housed within the National Women’s Law Center. It was launched in December 2017 and was the most successful GoFundMe in the site’s history, raising more than $24 million.

[..] By February, she learned from a new conversation with Time’s Up, which also involved Director Sharyn Tejani, that no assistance could be provided because the person she was accusing, Biden, was a candidate for federal office, and assisting a case against him could jeopardize the organization’s nonprofit status.

Read more …

 

 

Readership is up a lot, but ad revenue only keeps dropping. I’ve said it before, it must be possible to run a joint like 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?

You heard it here first, like so many other things. And no, though it would be far more lucrative financially, the Automatic Earth will not adopt any paywalls, not here and not on Patreon. But you can still support us there, as well as right here. It’s easy. Thanks everyone for your donations the past few days. Very much obliged.

 

 

 

 

 

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

 

Mar 252020
 


Harris&Ewing Washington DC in April April 1924

 

Coronavirus Stimulus Package To Exceed $6 Trillion – Kudlow (NYP)
US Senate Leaders Reach Deal With White House On $2tn Coronavirus Package (G.)
Share Buybacks, $4.6 Trillion Driver of Stock Market Bubble, Are Toast (WS)
White House Tells New Yorkers Who Leave State To Self Quarantine (USAT)
LA To Shut Off Water, Power For Non-Essential Businesses That Stay Open (GP)
United States Could Become Coronavirus Epicenter – WHO (R.)
South Korea Says Trump Asked For Equipment To Fight Coronavirus (R.)
EU Left Italy Alone To Fight Coronavirus, Russia, China Didn’t – Ex-FM (RT)
EU Shrugs Off US Sanctions, Gives Millions In Coronavirus Aid To Iran (ZH)
EU Urged To Evacuate Asylum Seekers From Cramped Greek Camps (G.)
Czech Borders May Remain Closed For Two Years, Says Top Official (ExpCZ)
Turkey’s Coronavirus Situation Is Out Of Control – Health Experts (Ahval)
Bolsonaro Says He ‘Wouldn’t Feel Anything’ If Infected With COVID-19 (G.)
Australian Doctors Warned Off After Prescribing Hydroxychloroquine (G.)
Assange Lawyer Baltasar Garzon Hospitalized With Coronavirus (RT)
Pablo Escobar’s ‘Cocaine Hippos’: Invasive Species Restore A Lost World (G.)

 

 

Only yesterday, I quoted a tweet and said: “As for these numbers: It took 67 days from the first reported case to reach the first 100,000 cases, 11 days for the second 100,000 cases and just four days for the third 100,000 cases. 300,000 cases were reached sometime early March 22″.

It took two days to reach 400,000. Not even.

And Prince Charles has it.

 

 

Cases 434,568 (+ 42,621 from yesterday’s 391,947)

Deaths 19,062 (+ 2,464 from yesterday’s 17,138)

 

 

 

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

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 15% !! up 1% every day-

 

 

From SCMP:

 

 

From COVID2019Live.info:

 

 

From COVID2019.app:

 

 

 

 

“We’re heading for a rough period but it’s only going to weeks, we think. Weeks and months. It’s not going to be years, that’s for sure..”

Coronavirus Stimulus Package To Exceed $6 Trillion – Kudlow (NYP)

An emergency stimulus package to bailout the U.S. economy amid the coronavirus pandemic will total $6 trillion — a quarter of the entire country’s GDP, the White House said Tuesday. Trump administration economist Larry Kudlow said the package would include $4 trillion in lending power for the Federal Reserve as well as a $2 trillion aid package currently being hammered out by Congress. “This package will be the single largest main street assistance program in the history of the United States,” Kudlow said at the White House coronavirus task force briefing on Tuesday evening.

Included in the package is Congress’ almost $2 trillion emergency bill which, when passed, will issue direct checks for American families, bailouts for the airline industry and a $350 billion loan program for struggling small businesses. The other $4 trillion will allow the Federal Reserve to make huge emergency bailouts to whatever entity it chooses — a measure that was used to prop-up Wall Street firms from collapse during the 2008 financial crisis. “This legislation is urgently needed to bolster the economy,” Kudlow added, warning the economy had tough times ahead. “We’re heading for a rough period but it’s only going to weeks, we think. Weeks and months. It’s not going to be years, that’s for sure,” he said, echoing comments from President Trump that the economy will bounce back to its pre-pandemic high.

Kudlow, a former Reagan administration adviser and media personality, said the huge bailout would “position us for what I think can be an economic rebound later this year.” A tidal wave of U.S. workers are facing unemployment in the wake of the COVID-19 outbreak — with White House officials warning of a 20 percent unemployment rate.

Read more …

Forget about re-arranging deckchairs, these people are fighting while the Titanic sinks.

US Senate Leaders Reach Deal With White House On $2tn Coronavirus Package (G.)

US Senate leaders have reached a deal with the Trump administration on a nearly $2tn stimulus package to help rescue the American economy ravaged by the coronavirus pandemic as Donald Trump considers easing restrictions aimed at combating the contagion. After days of around-the-clock negotiations amongst senators and administration officials, a bipartisan compromise was struck over what is expected to be the largest US economic stimulus measure ever passed. “We have a deal,” said Eric Ueland, the White House legislative affairs director, just before 1am, adding that the text of the bill still needed to be completed.

“We have either, clear, explicit legislative text reflecting all parties or we know exactly where we’re going to land on legislative text as we continue to finish.” Senate majority leader Mitch McConnell confirmed a deal had been reached. The bill will then go to the House, and then to Donald Trump, who is expected to ratify it. Tempers flared on Monday on Capitol Hill as senators grappled with the need to pass the critical aid. Democrats twice blocked efforts to move forward with a vote on the legislation, arguing the proposal did not provide strong enough protections for workers, families and healthcare providers nor did it impose strict enough restrictions on businesses that receive federal bailout money.

Republicans, in turn, fumed that Democrats were playing politics in a time of crisis. Late into the night, Treasury secretary Steven Mnuchin and Ueland ironed out details with the Republican and Democratic Senate leaders. “This is not a juicy political opportunity,” McConnell, said in a remarks from the floor on Monday. “This is a national emergency.” The deal would provide direct payments of up to $1,200 to most adults and expand unemployment insurance. It also includes a $367bn program for small businesses, to allow them to pay employees who have to stay home due to the coronavirus pandemic.

The Waffle House Index is an informal measure of disaster severity, because all its restaurants stay open every hour of every day. After floods, tornados and hurricanes, Waffle Houses are quick to reopen, even with a limited menu.

Read more …

Why those bailouts must fail.

Share Buybacks, $4.6 Trillion Driver of Stock Market Bubble, Are Toast (WS)

Share buybacks by companies in the S&P 500 Index in the fourth quarter 2019, before the Coronavirus was even a factor, fell 18% from a year earlier, to $181.6 billion, after falling 13% and 14% year-over-year in the prior two quarters, from the blistering tax-cut records set in 2018, according to S&P Dow Jones Indices today. For the full year, buybacks fell 9.6% from the tax-cut record in 2018, to $729 billion in 2019, the second highest annual total ever. Since the beginning of 2012, these companies have bought back $4.6 trillion with a T of their own shares. To provide a comparison of how big this T-number really is: It blows past the magnitude of Germany’s annual GDP.

Share buybacks were considered illegal market manipulation until 1982, when the SEC issued Rule 10b-18 which provided corporations a “safe harbor” to buy back their own shares. The only thing that share buybacks are supposed to accomplish is to manipulate up share prices. The four biggest US banks were among the 10 biggest share buyback queens in terms of the amount of capital they wasted on share buybacks in Q4 2019. Combined they incinerated $95 billion in capital last year, and $275 billion over the past five years (if your smartphone clips the 6-column table, slide the table to the left):

But now, Financial Crisis 2 has kicked in, and the share buybacks of these four banks along with the share buybacks of other banks have dropped to zero, along with many other companies that are now facing a liquidity crisis. The banks could have used those funds to shore up their capital, which would have been useful now as the bubbles in corporate debt and commercial real estate, that the Fed was so worried about, are coming unglued. But aside from generating fees for Wall Street, share buybacks do zero for the economy. What would have happened in the US economy if that $4.6 trillion in capital that companies incinerated by buying back their own shares since 2012 would have been invested in equipment, structures, expansion projects, and people, or would have been used to reduce debt so that companies, such as Boeing and the airlines, wouldn’t be in such a precarious situation today?

That capital that was incinerated by companies buying back their own shares would come in handy for companies that are now begging for and getting mega-bailouts from taxpayers and to an even larger extent from the Federal Reserve. “COVID-19 has significantly changed the 2020 landscape, as dividends are under pressure and buybacks appear to be gasping for air,” said the report by S&P Dow Jones Indices, adding that “buybacks must now compete with other corporate priorities as uncertainty over liquidity is at its highest since the 2008 financial crisis.” For Q2 2020, buybacks are “expected to be dismal,” and for the rest of the year, “buybacks may see a complete reversal of the 2018 buyback bonanza.” And the report by S&P Dow Jones Indices adds, even after the bottom is perceived to be in, “buybacks may be slow to come back” as companies, struggling for cash, limit spending amid potential government restrictions on buybacks and their dismal public image.

Read more …

New York City: “..56% of all the coronavirus cases in the United States, as well as 60% of all new cases..”

White House Tells New Yorkers Who Leave State To Self Quarantine (USAT)

Travelers leaving the New York metro area should self-quarantine for 14 days to make sure they aren’t passing on the coronavirus, a member of the White House Coronavirus Task Force said Tuesday. In making the recommendation, task force coordinator Deborah Birx said that the quarantine should apply even to those who aren’t showing symptoms. She said many travelers are headed to locations outside New York City, from Long Island to North Carolina or other states. Brix said 56% of all the coronavirus cases in the United States, as well as 60% of all new cases, are coming from the New York metro area. Greater New York City also accounts for 31% of deaths in the country.


The recommendation follows an order that took effect Tuesday by Florida Gov. Ron DeSantis requiring anyone flying to Florida from New York, New Jersey or Connecticut to self-isolate for 14 days upon arrival. Alaska and Hawaii are also requiring anyone arriving from other states to self-quarantine. Already, New Yorkers have been ordered to stay in their homes and the city has virtually shut down in an effort to quell spread of the virus.

Read more …

“..Our city will rise again..”

LA To Shut Off Water, Power For Non-Essential Businesses That Stay Open (GP)

Los Angeles Mayor Eric Garcetti has announced that the city will be shutting off water and power to any non-essential businesses that defied orders and stayed open during the coronavirus crisis. During his Tuesday press briefing Garcetti announced that the Department of Water and Power will be shutting off services for the businesses that don’t comply with the “safer at home” ordinance. “This behavior is irresponsible and selfish,” Garcetti said of businesses that remained open. KTLA reports that neighborhood prosecutors will implement safety measures and will contact the businesses before issuing further action, according to Garcetti.


“The easiest way to avoid a visit is to follow the rules,” he said. The mayor also noted that Los Angeles is “six to 12 days behind New York” for being hit with a wave of coronavirus cases. He said that he does not believe his city will be running as normal by Easter. “The peak is not here yet,” he said. “It will be bad.” The grimness of his press conference did not end there. He also warned residents to be “prepared for some of the darkness that is ahead.” “Each one of us can be a light. We can light a match of hope. We can navigate that tunnel with each other and not alone. And more importantly, what we do can ensure that more people exit that tunnel together… and that our city will rise again,” he added.

Read more …

Could become? It already is.

United States Could Become Coronavirus Epicenter – WHO (R.)

The United States has the potential to become the new epicenter of the coronavirus pandemic due to a “very large acceleration” in infections there, the World Health Organization said on Tuesday. The highly contagious respiratory virus has infected more than 42,000 people in the United States, prompting more governors to join states ordering Americans to stay at home. Over the past 24 hours, 85 percent of new cases worldwide were from Europe and the United States, WHO spokeswoman Margaret Harris told reporters. Of those, 40 percent were from the United States. Asked whether the United States could become the new epicenter, she said: “We are now seeing a very large acceleration in cases in the U.S. So it does have that potential. We cannot say that is the case yet but it does have that potential.”


“…They (the United States) have a very large outbreak and an outbreak that is increasing in intensity,” Harris added. However, she identified some positive signs such as more comprehensive testing, and further efforts to isolate the sick and trace their immediate contacts exposed to the virus. She also referred to “extremely heartwarming” stories of how Americans were helping each other during the crisis. [..] Harris said that new records were to be expected each day until new confinement measures begin to take effect. Up until now, Europe has been the center of transmission with Italy the most badly-hit country with the world’s highest number of deaths, although fatalities have begun slowing there. Asked about a potential tipping point in Italy, she said: “There is a glimmer of hope there. We’ve seen in the last two days fewer new cases and deaths in Italy but it’s very, very early days yet.”

Read more …

Every government asks every other government for help.

South Korea Says Trump Asked For Equipment To Fight Coronavirus (R.)

President Donald Trump asked South Korea to send medical equipment to the United States to fight the coronavirus, promising to help Korean companies gain U.S. government approval, South Korea’s presidential office said. South Korea’s President Moon Jae-in offered to send the equipment if his country has any spare, his Blue House office said in a statement late on Tuesday, after the 23 minute phone call, which it said was arranged at Trump’s urgent request. The request for help highlights the diverging paths the two countries took since both discovered their first coronavirus cases on the same day.


South Korea rolled out widespread testing within days, swiftly launching an aggressive program to isolate confirmed cases and trace their contacts. After a big early outbreak, it won praise for slowing the spread of the disease with comparatively little disruption and just 125 deaths, and has brought the number of new infections per day to below 100 for the past 13 straight days. The United States did little testing initially, and has now been shutting parts of the country en masse, with fast-growing outbreaks in a number of states and thousands of new cases per day. Moon told Trump that South Korea “will provide as much support as possible, if there is spare medical equipment in Korea”.

Read more …

The EU fails even where you think it wouldn’t be possible.

EU Left Italy Alone To Fight Coronavirus, Russia, China Didn’t – Ex-FM (RT)

The EU’s initial response to the massive outbreak of coronavirus in Italy was largely “inadequate,” and a lack of European solidarity opened the doors for Russia and China, former Italian Foreign Minister Franco Frattini told RT. The new epicenter of the dreaded pandemic, Italy, has been struggling to stop the spread of Covid-19 for weeks now. The disease has already killed more than six thousand people in the country, with over 60 thousand people infected. The EU clearly underestimated the virus, blaming the outbreak in Italy on its national healthcare system flaws, according to the two-time foreign minister and OSCE representative. As a result, Brussels, which preaches pan-European solidarity, failed to act when this solidarity was needed in the face of a crisis that eventually affected the entire bloc.

Frankly speaking, Brussels is not doing enough. At the very first moment, Italy was practically alone against the virus. Many said it was all because of the Italian habits, because Italians do not respect the rules. Suddenly, they realized all the other countries were equally affected. The situation in other major EU states like Germany and France deteriorated rapidly, forcing them to deal with thousands of infected on their own soil. “Everyone just focused on the situation at home before even thinking about helping others,” Andrea Giannotti, the executive director of the Italian Institute of Eurasian Studies, told RT. The lack of solidarity was recently noted from outside of the bloc – Serbian President Aleksandar Vucic decried European solidarity as a myth, while praising Beijing for its assistance. His remarks came after Serbia received five million masks from China, which it could not get in Europe.

The EU is now trying “to do more” and somehow “make up” for its initial poor execution of a coordinated response, former Italian MP Dario Rivolta said.

Read more …

Proper thing to do, but what about the refugees in Greece?

EU Shrugs Off US Sanctions, Gives Millions In Coronavirus Aid To Iran (ZH)

The White House has not backed off it’s ‘maximum pressure’ campaign on Iran even as the Islamic Republic’s Covid-19 cases and deaths continue to soar, approaching 25,000 confirmed cases Tuesday. Despite even close US ally Britain quietly signalling it’s had enough of Washington’s ill-timed pressures, Secretary of State Pompeo has upped the ante further, on Monday accusing the Iranian regime of everything from hoarding masks and equipment to intentionally spreading the deadly disease to at least five countries. But it appears Europe has finally begun to shirk US demands. On Monday EU foreign policy chief Joseph Borrell announced 20 million euros in new aid to Iran, and more crucially said the body will support Tehran’s request for IMF assistance.

“We’ve not been able to provide a lot of humanitarian help but there is some 20 million euros in the pipeline … that we expect to be delivered over the next weeks,” Borrell said in a video news conference Monday. “We also agree in supporting the request by Iran and also by Venezuela to the International Monetary Fund to have financial support,” he said further but without disclosing details. European officials consider the situation as urgent and see the US pressure campaign as greatly exacerbating the death toll given Iran lacks much of the basic medicines and equipment to treat at-risk patients and mitigate the outbreak. Recently Iranian health officials said shockingly that one person is dying from the virus every 10 minutes.

The pressure for some kind of dramatic blanket easing of US sanctions is only set to grow, given that last week Iran’s leaders for the first time in a half-century turned to the IMF. Bloomberg reported of the urgent IMF appeal: “Iranians say that their economy is weak and unable to cope with the humanitarian toll because of the U.S. sanctions. Last week, Iran turned to the International Monetary Fund for the first time since the 1960s for aid, though Ali Vaez, the Crisis Group’s Iran project director, said the U.S. may try to block the IMF loan in order to keep up the pressure on the regime.”

Read more …

They don’t care. They haven’t in 5 years.

EU Urged To Evacuate Asylum Seekers From Cramped Greek Camps (G.)

The European Union has been urged to evacuate asylum seekers from overcrowded camps on the Greek islands in order to save lives. The European parliament’s civil liberties, justice and home affairs committee has called for the evacuation of 42,000 people on the Greek islands as “an urgent preventive” measure to avoid “many deaths” from coronavirus. Holding facilities on all five Aegean isles opposite the Turkish coast are currently six times over capacity. The first case of Covid-19 on the islands was confirmed earlier this month when a Greek woman on Lesbos, the island long on the frontline of the refugee crisis, tested positive. A Greek man, recently returned from Thailand, was diagnosed with the virus on Monday, reinforcing fears of an outbreak in camps seen as especially high-risk environments .

MEPs fear that if the virus spreads it could become a public health emergency in the squalid camps, where thousands live in unsanitary conditions, often without electricity, heating or running water. “Many of those in the camps are already in precarious health situations due to the bad conditions in which they have lived for a long time,” states the letter from Juan Fernando López Aguilar, a Spanish socialist MEP, who chairs the committee. “There is no chance of isolation or social distancing, nor is it possible to ensure appropriate hygienic conditions,” he wrote. The letter adds that only six intensive care beds are available on Lesbos for residents and asylum seekers. The notorious Moria camp on Lesbos houses nearly 20,000 people in a space designed for 2,200.

[..] The MEPs want people over 60 with existing health conditions evacuated first, but do not spell out whether they should go to other EU member states or the Greek mainland. The European commission said it was working with Greece on an emergency response plan to deal with a potential outbreak of coronavirus on the islands. A commission spokesperson said Greek authorities were taking action to prevent the spread of the disease, with compulsory temperature testing of new arrivals to the camps, suspension of visits, regular cleaning of communal areas, and the setting up of quarantine and recovery areas. The spokesperson also referred to an ongoing push to encourage EU member states to give a home to unaccompanied children on the Greek islands. Seven countries pledged earlier this month to take in 1,600 children from the islands.

Read more …

“There is no time for pessimistic scenarios now..”?! Pray tell, when is that time?

Czech Borders May Remain Closed For Two Years, Says Top Official (ExpCZ)

Czech Crisis Staff head Roman Prymula told Czech Television today that border restrictions in the Czech Republic over the coronavirus situation may last up to two years, and largely depend on the management of the epidemic in other countries in Europe and across the globe, reports the Czech News Agency and Novinky.cz. While the situation in the Czech Republic is thought to improve from mid-April, estimates aren’t as optimistic for other countries in Europe. “The situation in other European countries will not be good,” Prymula told Czech Television. “There it will take months and long months.” According to Prymula, international travel will most likely be limited for the next year or two, and Czech residents should count on taking their summer holidays within the Czech Republic this year.

Prymula’s statements were supported by Czech Minister of Health Adam Vojtech. “The point is to avoid having a second or third wave of the epidemic, so that people from other countries such as Italy, France, Spain, Germany, do not begin to flow [into the Czech Republic],” he told Czech Television. “I do not want to provide false optimism, but I hope that it will be possible to keep the number to 10,000 [infected with coronavirus],” Prymula added. “We are able to operate effectively with up to 15,000 [cases].” [..] He further stated that if the number of infections does not exceed 8,500 by the end of March, it would be possible to ease the current restrictions on movement within the country during the following 10 days. This could theoretically take place place by the Easter holiday (April 12-13).

Prymula’s statement was “shocking”, said TOP 09 chairman Miroslav Kalousek. The statement has presented the urgent question of whether it was right that the emergency staff is headed by a person without political responsibility, Kalousek said. What was said is quite quite unfortunate, TOP 09 leader Marketa Adamova Pekarova said. There is no time for pessimistic scenarios now, she added.

Read more …

Turkey reported its first case only on March 11. It kept its soccer league going for much longer than others.

Turkey’s Coronavirus Situation Is Out Of Control – Health Experts (Ahval)

Health experts have warned that Turkey’s coronavirus situation is out of control and that deaths from the disease could soon be on a par with Italy or Spain, reported the Balkan Investigative Reporting Network on Tuesday. “The recent data on cases and death tolls shows that the situation is out of control in Turkey. If the necessary measures are not taken, Turkey will be like Italy or Spain, where the daily death toll is in the hundreds,” Emrah Altındis, a Turkish professor from Harvard University’s Medical Faculty, told BIRN. Turkey only reported its first coronavirus patient on March 11, but cases and deaths have rapidly risen since then.


The Turkish health minister confirmed on Tuesday seven more deaths due to the coronavirus and announced 343 new cases, raising the total number of cases in the country to 1,872. Turkey has halted incoming flights from dozens of countries and closed a wide range of non-essential businesses and venues, and announced a curfew on elderly and vulnerable citizens over the weekend, though it has refrained from enforcing a full lockdown. However, some medical experts have said that the measures are insufficient.

Read more …

“The first political suicide broadcast live on national radio and television..”

Bolsonaro Says He ‘Wouldn’t Feel Anything’ If Infected With COVID-19 (G.)

Brazil’s far-right president, Jair Bolsonaro, has claimed he “wouldn’t feel anything” if infected with coronavirus and rubbished efforts to contain the illness with large-scale quarantines as his country’s two biggest cities went into shutdown in a desperate bid to save lives. In a televised address to the nation on Tuesday night, Bolsonaro slammed what he branded the economically damaging “scorched earth” tactics being used to slow the advance of an illness that has now claimed about 15,000 lives around the world. “The virus has arrived and we are fighting it and soon it will pass,” claimed Bolsonaro, who is facing a growing backlash in Brazil for repeatedly dismissing coronavirus as a media “fantasy” and “trick”.

Bolsonaro’s incendiary remarks came as both Rio de Janeiro and São Paulo were placed under partial lockdown by municipal and state authorities who fear an explosion of cases in the coming days. João Doria, the governor of São Paulo, Brazil’s most economically important and populous state, has declared a 15-day quarantine period affecting about 46 million of Brazil’s 210 million citizens. Meanwhile Rio’s mayor, Marcello Crivella, has ordered an indefinite shutdown of that city’s commerce and schools with Rio’s state governor, Wilson Witzel, also introducing drastic measures to counter coronavirus.

But in his five-minute address – which sparked loud protests in both Rio and São Paulo – Bolsonaro railed against such steps and attacked the media for spreading a “feeling of dread” among the population by reporting on the death toll in Italy. “Our lives have to go on. Jobs must be kept … we must, yes, get back to normal,” Bolsonaro said as his government’s health officials announced that the number of deaths in Brazil had risen to 46 with more than 2,200 cases. “A small number of state and municipal authorities must abandon their scorched-earth ideas: the banning of public transport, the closing of commerce and mass confinement,” Bolsonaro said. “What is happening around the world has shown that the at-risk group are those over 60 years old. So why close schools? … Ninety per cent of us will show no sign [of infection] if we are infected.”

[..] “The first political suicide broadcast live on national radio and television,” tweeted Ricardo Noblat, a prominent Brazilian journalist. Brian Winter, the editor-in-chief of Americas Quarterly, tweeted: “Pray for Brazil.”

Read more …

But there are a lot of positive reports too.

Australian Doctors Warned Off After Prescribing Hydroxychloroquine (G.)

Australia’s drugs regulator has been forced to restrict powers to prescribe a drug undergoing clinical trials to treat Covid-19, because doctors have been inappropriately prescribing it to themselves and their family members despite its potentially deadly side-effects. The anti-malarial drug hydroxychloroquine and the similar compound chloroquine are currently used mostly for patients with autoimmune diseases such as rheumatoid arthritis, but stocks in Australia have been diminished thanks to global publicity – including from Donald Trump – about the potential of the drug to treat Covid-19.


Hydroxychloroquine and chloroquine have potentially severe and even deadly side effects if used inappropriately, including heart failure and toxicity. Some Australian media outlets have wrongly reported the drug as a “cure” for the virus even though trials have been either inconclusive or too small to be useful, have only been conducted in test tubes, are not yet complete, or have not even received ethics approval. Australia’s Therapeutic Goods Administration said it was concerned about shortages of the drug for people who need it following increased off-label prescribing as a result of the Covid-19 reports. As well as heart attacks the drug can lead to irreversible eye damage and severe depletion of blood sugar potentially leading to coma, the TGA warned.

Read more …

I think today’s the day for the request to free Assange.

Assange Lawyer Baltasar Garzon Hospitalized With Coronavirus (RT)

Famous Spanish jurist Baltasar Garzon has been admitted to a hospital in Madrid after testing positive for Covid-19. He has provided legal counsel to WikiLeaks publisher Julian Assange, among other things. Garzon, 64, was admitted to the Ruber clinic in Madrid on Tuesday, after five days of high fever at home. He tested positive for the coronavirus and was given the prognosis of respiratory failure, Spanish media reported. The former judge of the National Court had self-isolated at his home after complaining about a fever and chest pains, before the symptoms worsened.


Garzon became famous as a judge who cracked down on the Basque separatist organization ETA, and pursued human rights abuse charges against Spain’s Franco government, the Pinochet junta in Chile, and the Argentine military dictatorship. He has provided legal counsel to Assange since 2012, finding himself under considerable pressure at times – such as when masked raiders broke into his office in 2017. The second hardest-hit country in Europe by the Covid-19 outbreak, Spain is struggling with almost 40,000 reported cases, of which 2,700 have been fatal so far.

Read more …

Your good news for today.

Pablo Escobar’s ‘Cocaine Hippos’: Invasive Species Restore A Lost World (G.)

When the drug lord Pablo Escobar was shot dead in 1993, he left behind a zoo stocked with wild animals alongside his multibillion dollar cocaine empire. The lions, giraffes and other exotic species were moved from the luxurious Hacienda Nápoles estate east of Medellín to new homes, but nearly three decades later, dozens of hippos, descendants of animals left behind, are thriving in small lakes in northern Colombia, making them the world’s largest invasive animal. Now scientists say that contrary to the conventional wisdom that large invasive herbivore mammals have strictly negative effects on their new environments, Escobar’s “cocaine” hippos show how introduced species can restore a lost world.

A team of conservation biologists has compared the traits and impacts on the ecosystems from large invasive herbivore species like the Colombian hippo with their extinct counterparts from the Late Pleistocene (around 116,000-12,000 years ago) period like mammoths, giants sloths and giant wombats. They found some modern day invasive species restore parts of ecosystems not seen since before humans began driving the widespread extinctions of megafauna. Their new study, published in Proceedings of the National Academy of Sciences, found that some introduced herbivore species are an almost perfect ecological match for extinct species from the Late Pleistocene, such as modern day wild horses known as mustangs and the extinct pre-domestic horses in North America, while others bring back a mixture of traits.

“The feral hippos in South America are similar in diet and body size to extinct giant llamas, while a bizarre type of extinct mammal – a notoungulata – shares with hippos large size and semiaquatic habitats,” explained study co-author John Rowan, Darwin fellow in organismic and evolutionary biology at the University of Massachusetts Amherst. “So, while hippos don’t perfectly replace any one extinct species, they restore parts of important ecologies across several species.”


Toxodon-Notoungulata

By comparing ecological traits of herbivore species from before the Late Pleistocene extinctions to the present day, such as body size, diet and habitat, researchers were able to quantify the extent to which introduced species were more or less similar to extinct predecessors. The analysis found that by introducing large herbivore species across the world, humans had restored lost ecological traits to many ecosystems, thereby counteracting a legacy of extinctions and making the world more like the pre-extinction late Pleistocene.

Read more …

 

Someone asked if this was performance art, fair enough. I was wondering what would happen if Trump did this.

 

 

 

 

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Mar 242020
 


James Proudfoot Sun on a House, Dieppe 1937

 

 

Famous last words?!

“I would love to have it open by Easter,” Trump said in an interview Tuesday with Fox News. “I would love to have it opened up and just raring to go by Easter.” “A lot of people agree with me. Our country is not built to built to shut down. Our people are full of vim and vigor and energy. They don’t want to be locked into a house or an apartment, it’s not for our country”

Note that Trump covered himself by framing it as “I would love to…” Still, Easter is April 12, 19 days from now. I think the US is highly unlikely to even have reached its peak in infections by then, and the country will be awash in misery, sickness, death and heartbreaking stories, not uplifting ones of a roaring economy.

The US death toll is still very low compared to its active cases, but that is because the epidemic in the country is relatively new, and there are still hospital beds and ventilators available. Those days will soon be over, try the end of next week if not sooner, and the death toll will be going going gone out of there.

And remember, half of all US corona cases are still in New York State alone. There are 49 other states to go, that just about all still have open borders with each other. New York today, New Jersey, Pennsylvania, Connecticut etc. tomorrow.

If Governor Andrew Cuomo was not exaggerating too much earlier today when he said he asked FEMA for 30,000 ventilators and got only 400, the ominous path forward is beginning to look like a very eery version of a Yellow Brick Road to nowhere, with the Wizard sipping banana daiquiries on his private yacht in the Caribbean.

Our friend Mike Mish Shedlock did a bit of math on Sunday with data from the Covid Tracking Project, and came up with this:

How Long to 1 Million US Cases?

Inquiring minds are investigating a relatively new data feed from the Covid Tracking Project. I plot four data series for the US: Negative tests, positive tests, hospitalized, and deaths. Arguably, hospitalizations are the most significant column but the project only has two days worth of data. Once I have another dfats point or two, I will plot a trendline manually.


Trendlines At the current pace, the number of positive coronavirus cases would hit 100,000 on March 26, and 1,000,000 on April 3. At the current pace, the number of coronavirus deaths would hit 1,000 on March 26, and 10,000 on April 5. Those are not my projections, those are observations of what would happen if the current trends last that long at the same pace.

At that point, the US had 32,000 cases. On Monday that had become 42,000. As I write this, it’s 52,000 and the day is far from over. And remember what I said yesterday, that on March 8, just 16 days ago, the US reported 409 cases.

When I posted Mish’s numbers, I questioned his prediction of 100,000 cases by Thursday, but that’s really just details. If not Thursday, it will be Friday. Yes, that’s a doubling in 2 or 3 days. Early next week, if not his weekend, it’ll be 200,000. And so on. Mish says 1 million in 10 days from now. I see no reason to doubt him.

Either tomorrow or Thursday, March 25 or 26, the US will overtake China for the no. 1 global position in total cases -which is some 81,000 now-. With very flawed to non-existent testing procedures, with ongoing endless political bickering, and with a looming huge shortage in hospital beds and ventilators; this is beginning to look like a very bad movie.

By Easter, much of US industrial production in many parts of the country will have to be shut down, the same way China’s was -and still is-, and Italy’s is. You can’t successfully run a factory -or an office for that matter-, if your employees get sick, stay home, end up in hospital or worse. Even in the US, one single case should be enough to close the entire facility down.

The victim will have to be quarantined, as must his/her entire family, everyone (s)he worked with must be tested, and so on. It works like that everywhere, and the US is no exception. It can’t be, the risk is too high.

Brace yourself. Don’t take my word for anything, look at the numbers and draw your own conclusions. My idea is Easter is going to be different from usual this year.

 

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Mar 242020
 


DPC City Hall subway station, New York 1904

 

Coronavirus Survived In Vacated Cruise Ship Cabins For Up To 17 Days (CNBC)
46.5% Of Diamond Princess Cruise Ship Passengers, Crew Were Asymptomatic (CNN)
Italy Has A Brief Glimpse Of Hope As New Cases Drop To A 5-Day Low (SCMP)
India Faces Spike In Coronavirus Cases – Study (R.)
Coronavirus Treatment Developed By Gilead Granted “Rare Disease” Status (IC)
Man Dies After Ingesting Chloroquine (NBC)
‘Miracle’ Malaria Drug Saved Us From Coronavirus, Claim Americans (DM)
War Couldn’t Stop Parliament, So Why Should COVID-19? (Aus.)
Ecuadoreans Print 3-D Protective Gear For COVID-19 Doctors (Telesur)
Electricity Consumption In Italy Plummets Amid Countrywide Quarantine (ZH)
China’s Propaganda Campaign in Europe (Kern)
All the Fed’s Corporate & Investor Bailout Programs and SPVs (WS)

 

 

Scariest bit today? Here it is:

 

 

Cases 391,947 (+ 46,654 from yesterday’s 345,292)

Deaths 17,138 (+ 2,213 from yesterday’s 14,925)

 

 

 

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

One look at the US suffices. It was up 9,293 at 42,893. So far today another 2,434 were added, total now 46,168. Death toll yesterday was 522, now 582.

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 14% !! 2 weeks ago it was at 6%-

 

 

From SCMP:

 

 

From COVID2019Live.info:

 

 

From COVID2019.app:

 

 

 

 

Just today, March 24, two more deaths from the Diamond Princess were announced. The last crew members left the ship March 1.

Coronavirus Survived In Vacated Cruise Ship Cabins For Up To 17 Days (CNBC)

The coronavirus survived for up to 17 days aboard the Diamond Princess cruise ship, living far longer on surfaces than previous research has shown, according to new data published Monday by the Centers for Disease Control and Prevention. The study examined the Japanese and U.S. government efforts to contain the COVID-19 outbreaks on the Carnival-owned Diamond Princess ship in Japan and the Grand Princess ship in California. Passengers and crew on both ships were quarantined on board after previous guests, who didn’t have any symptoms while aboard each of the ships, tested positive for COVID-19 after landing ashore.

The virus “was identified on a variety of surfaces in cabins of both symptomatic and asymptomatic infected passengers up to 17 days after cabins were vacated on the Diamond Princess but before disinfection procedures had been conducted,” the researchers wrote, adding that the finding doesn’t necessarily mean the virus spread by surface. “COVID-19 on cruise ships poses a risk for rapid spread of disease, causing outbreaks in a vulnerable population, and aggressive efforts are required to contain spread,” the CDC wrote, reiterating its guidance to vulnerable populations to avoid cruises during the pandemic.

[..] The new study set out to determine how “transmission occurred across multiple voyages of several ships.” They noted that as of March 17, there were at least 25 cruise ship voyages with confirmed COVID-19 cases that were detected either during or after the cruise ended. Almost half, 46.5%, of the infections aboard the Diamond Princess were asymptomatic when they were tested, partially explaining the “high attack rate” of the virus among passengers and crew. [..] The researchers found that 712 of 3,711 people on the Diamond Princess, or 19.2% were infected by COVID-19.

Read more …

And why wouldn’t this be true everywhere?

Note: the -unrelated- explainer video is pretty much a must see

46.5% Of Diamond Princess Cruise Ship Passengers, Crew Were Asymptomatic (CNN)

Nearly half of the Diamond Princess cruise ship passengers and crew who tested positive for the novel coronavirus were asymptomatic at the time they were tested, according to a new report from the US Centers for Disease Control and Prevention. Of the 712 passengers and crew members of the ship who tested positive for coronavirus, 331 – or 46.5% – were asymptomatic at the time of testing, the CDC said. The agency said that the high rate of asymptomatic infections could partly explain the high rate of infection among cruise ship passengers and crew.


Traces of the virus were found “on a variety of surfaces in cabins of both symptomatic and asymptomatic infected passengers up to 17 days after cabins were vacated on the Diamond Princess but before disinfection procedures had been conducted,” the CDC said. However, the surface contamination on the ship can’t be used to determine whether transmission occurred from contaminated surfaces without further study, the CDC cautioned. As of March 13, 107, or 25%, of the 428 Americans on the Diamond Princess tested positive for coronavirus, the agency said.

Read more …

Italian newspaper La Repubblica apparently reports that infection rate in Italy is 10x higher than acknowledged. I like the tweeted response:

“That’s actually good news (if true). Death rate much lower and also means everyone has it.”

If everyone’s infected, there’s no more need for lockdowns.

Italy Has A Brief Glimpse Of Hope As New Cases Drop To A 5-Day Low (SCMP)

Italy’s number of new Covid-19 cases dropped to a five-day low on Monday, easing tension on overstretched hospitals and bringing a glimmer of hope to a nation that has lost more lives than any other country to the pandemic. In Spain, however, more people died in the last 24 hours than at any point since the coronavirus outbreak erupted in what has become Europe’s second most devastated country. Italian health authorities announced 4,789 new cases in the last 24 hours, a drop from 5,560 on Sunday and 6,557 on Saturday. It was also lower than the levels of Thursday and Friday, when the figures for confirmed cases were still rising. The number of hospitalised cases in Lombardy – the Italian region enduring the most serious outbreak – also declined for the first time since the contagion took root.


“Today is perhaps the first positive day we have had in this hard, very tough month,” said Giulio Gallera, the top health official in Lombardy, an area known as the economic engine of Italy. “It is not the time to sing victory, but we are beginning to see the light at the end of the tunnel.” The number of coronavirus cases in Italy has risen to 63,927 – compared to 81,093 in mainland China. [..] The overall death rate from the pandemic in Italy has further risen to 9.5 per cent, far exceeding the global average of 4.4 per cent. Of the confirmed cases, 3,204 were in intensive care, while 26,522 were under home quarantine.

Read more …

The US went from 409 cases two weeks ago to 46,000 now, sure to cross the 100,000 line in a few days, i.e. in under 3 weeks. This “study” claims this could take almost 2 months in India.

India Faces Spike In Coronavirus Cases – Study (R.)

India could face between around 100,000 and 1.3 million confirmed cases of the disease caused by the new coronavirus by mid-May if it continues to spread at its current pace, according to a team of scientists based mainly in the United States. The estimates reinforce concerns among some medical officials and experts in India that the country of 1.4 billion people could see coronavirus cases jump sharply in the coming weeks and put its health system under severe strain. The scientists said projections could change as the country conducts more testing, while also putting in place stricter restrictions and measures to stem the spread of the virus.

“Even with the best case scenarios, probably, you are in a very painful crisis,” said Bhramar Mukherjee, a professor of biostatistics and epidemiology at the University of Michigan who was involved in the study. The study was carried out by the COV-IND-19 Study Group of scholars and scientists looking into the threat posed by the coronavirus, and COVID-19, the disease it causes, in India. [..] India probably has only around 100,000 intensive care unit (ICU) beds and 40,000 ventilators, said Dhruva Chaudhry, president of the Indian Society of Critical Care Medicine, based on industry estimates and other data. “We can handle it if an even number (of cases) come over a period of time,” Chaudhry said. But he warned that there was not sufficient infrastructure or staff to handle a sharp spike in critical patients.

[..] So far, India has reported 471 cases of the coronavirus and 9 deaths, numbers dwarfed by countries like China, Italy and Spain, but which are nonetheless beginning to accelerate. Authorities have imposed a lockdown across large parts of the country, including in the capital city New Delhi and the financial hub of Mumbai. The original study was based on data up to March 16, but following a request from Reuters, the team updated their model using cases from Indian health authorities up to March 21.

Read more …

Yeah, this stinks. But it’s not a “coronavirus treatment”. Remdesivir is an antiviral that’s alleged to be effective against Ebola and Marburg.

Coronavirus Treatment Developed By Gilead Granted “Rare Disease” Status (IC)

This afternoon, the Food and Drug Administration granted Gilead Sciences “orphan” drug status for its antiviral drug, remdesivir. The designation allows the pharmaceutical company to profit exclusively for seven years from the product, which is one of dozens being tested as a possible treatment for Covid-19, the disease caused by the new coronavirus. Experts warn the designation, reserved for treating “rare diseases,” could block supplies of the antiviral medication from generic drug manufacturers and provide a lucrative windfall for Gilead Sciences, which maintains close ties with President Donald Trump’s task force for controlling the coronavirus crisis. Joe Grogan, who serves on the White House coronavirus task force, lobbied for Gilead from 2011 to 2017 on issues including the pricing of pharmaceuticals.

“The Orphan Drug Act is for a rare disease and this is about as an extreme opposite of a rare disease you can possibly dream up,” said James Love, the director of Knowledge Ecology International, a watchdog on pharmaceutical patent abuse. “They’re talking about potentially half the population of the United States,” said Love, adding that “it’s absurd that this would happen in the middle of an epidemic when everything is in short supply.” The 1983 Orphan Drug Act gives special inducements to pharmaceutical companies to make products that treat rare diseases. In addition to the seven-year period of market exclusivity, “orphan” status can give companies grants and tax credits of 25 percent of the clinical drug testing cost. The law is reserved for drugs that treat illnesses that affect fewer than 200,000 people in the U.S.

But a loophole allows drugs that treat more common illnesses to be classified as orphans if the designation is given before the disease reaches that threshold. As of press time, there were more than 40,000 confirmed cases of Covid-19 in the U.S, and some 366,000 worldwide. The distinction could severely limit supply of remdesivir by granting Gilead Sciences exclusive protection over the drug and complete control of its price. Other pharmaceutical firms, including India-based pharmaceutical firm Cipla, are reportedly working towards a generic form of remdesivir, but patients in the U.S. could be prevented from buying generics with lower prices now that Gilead Sciences’ drug has been designated an orphan.

The distinction could severely limit supply of remdesivir by granting Gilead Sciences exclusive protection over the drug and complete control of its price. Other pharmaceutical firms, including India-based pharmaceutical firm Cipla, are reportedly working towards a generic form of remdesivir, but patients in the U.S. could be prevented from buying generics with lower prices now that Gilead Sciences’ drug has been designated an orphan. Today, Gilead abruptly announced that it would no longer provide emergency access to remdesivir, telling the New York Times that “overwhelming demand” left it unable to process requests for the drug through its compassionate use program. Hours later, the Food and Drug Administration gave the drug orphan status. Almost immediately, Gilead’s stock price shot up.

Read more …

Okay, I’m confused. Time for Dr. John Day and other medical commentariat to chime in. This suggests the “human” version’s generic name is hydroxychloroquine, but when we started discussing it here 5 weeks ago, we were talking about chloroquine phosphate, which the article says is for fish only.

Also, we don’t read how much these people took. And the woman is critical but still does elaborate interviews?

Man Dies After Ingesting Chloroquine (NBC)

An Arizona man has died after ingesting chloroquine phosphate — believing it would protect him from becoming infected with the coronavirus. The man’s wife also ingested the substance and is under critical care. The toxic ingredient they consumed was not the medication form of chloroquine, used to treat malaria in humans. Instead, it was an ingredient listed on a parasite treatment for fish. The man’s wife told NBC News she’d watched televised briefings during which President Trump talked about the potential benefits of chloroquine. Even though no drugs are approved to prevent or treat COVID-19, the disease caused by the coronavirus, some early research suggests it may be useful as a therapy.

The name “chloroquine” resonated with the man’s wife, who asked that her name not be used to protect the family’s privacy. She’d used it previously to treat her koi fish. “I saw it sitting on the back shelf and thought, ‘Hey, isn’t that the stuff they’re talking about on TV?'” The couple — both in their 60s and potentially at higher risk for complications of the virus — decided to mix a small amount of the substance with a liquid and drink it as a way to prevent the coronavirus. “We were afraid of getting sick,” she said. Within 20 minutes, both became extremely ill, at first feeling “dizzy and hot.” “I started vomiting,” the woman told NBC News. “My husband started developing respiratory problems and wanted to hold my hand.”

She called 911. The emergency responders “were asking a lot of questions” about what they’d consumed. “I was having a hard time talking, falling down.” Shortly after he arrived at the hospital, her husband died. [..] On Monday, Banner Health, based in Arizona, said the couple took the additive called chloroquine phosphate. The couple unfortunately equated the chloroquine phosphate in their fish treatment with the medication —known by its generic name, hydroxychloroquine ..

Read more …

One coin, two sides.

‘Miracle’ Malaria Drug Saved Us From Coronavirus, Claim Americans (DM)

People across the US have come forward to call the anti-malaria drug a ‘miracle’ coronavirus treatment as New York state officials announce they will start trials with the medication on Tuesday. On Monday, New York Gov. Andrew Cuomo said the state will doctors will start trialing hydroxychloroquine this week after the number of coronavirus cases in New York City alone rose to 12,000, an increase of more than 3,000 overnight. The drug has not yet been proven as effective in battling the virus, but President Donald Trump drummed up excitement over it when he called it a ‘game changer’ last week. Dr Anthony Fauci, the White House coronavirus expert, said more work was needed before it could be heralded as a solution. But people like Rio Giardinieri, Margaret Novins and Lost star Daniel Dae Kim are praising the drug for saving their lives.

Giardinieri, who is the vice-president of a company that manufactures cooking equipment for high-end restaurants in Los Angeles, said his doctors administered the drug as a last hope for his recovery. The 52-year-old believes he contracted the virus during a conference in New York and immediately fell ill with a fever for five days, back pain, headaches, a cough and fatigue. ‘I was at the point where I was barely able to speak, and breathing was very challenging,’ he told Fox 6. He went to Joe DiMaggio Hospital in South Florida, where doctors diagnosed him with pneumonia and coronavirus. Giardinieri explained that he was placed on oxygen but he was still unable to breath. After a week, doctors told him there was nothing else they could do and on Friday evening he said goodbye to his wife and three children.

‘I really thought my end was there. I had been through nine days of solid pain and for me, the end was there, so I made some calls to say, in my own way, goodbye to my friends and family,’ he told the news site. Giardinieri said a friend then told him about the anti-malaria drug. He immediately asked a doctor to administer the medication. He then explained what came next, including the moment when he felt like his heart was beating out of his chest. ‘They had to come in, and get me calmed down, and take care of me,’ Giardinieri said. But then the next morning he says he ‘woke up like nothing ever happened’ and feeling much better. The doctors said they don’t believe Giardinieri’s episode was a reaction to the anti-malaria drug but instead was likely the virus progressing in his body. ‘To me, the drug saved my life,’ Giardinieri said.

Read more …

Keep distance everywhere except in parliament? There are pictures of UK nurses in overloaded London subway trains. Because the risk of infection at work is not high enough, I guess.

War Couldn’t Stop Parliament, So Why Should COVID-19? (Aus.)

The decision to shut down parliament until August goes against the entire underpinnings of our Westminster political democracy. The argument that it practically needs to happen is just rubbish. Parliament kept operating through both World Wars. It operated during the Great Depression and even the Spanish Influenza of 1919. In those days we didn’t have the technology nor know-how we do today to make it even easier to keep parliament open, whether from a transport or communications perspective. The same reason that well prepared private schools have seamlessly moved to online learning systems is the reason the nation’s parliament could operate — at the very least — as a virtual chamber if necessary. Or as it did this week with social distancing and limited attendance.


What message does it send culturally that parliament is apparently so irrelevant it can pack up until the second half of the year without concern? Our democracy is not about the executive running the joint without parliamentary oversight — especially in times of crisis when scrutiny and accountability become even more important. While parliament inevitably includes no small degree of buffoonery, the role of Question Time and the platform the chamber gives individual MPs to voice the concerns of their local communities is vital. As are the committee processes.

Read more …

Shouldn’t everyone be doing this? Where are governments’ purchases of 3D printers?

Ecuadoreans Print 3-D Protective Gear For COVID-19 Doctors (Telesur)

Amid the COVID-19 pandemic, Ecuador has become the second worst-hit country in the region with over 980 infected as of Monday and with the rapid spread of the virus the country now faces a severe shortage of personal protective equipment (PPE) for its health workers. Yet this grim reality became an opportunity for a group of Ecuadoreans business owners and enthusiasts of 3-D printing to join together and apply their knowledge to produce much-needed equipment for the doctors and nurses fronting the virus. “As soon as the news came, we started to think and talk about ways to help…we saw there was a need for protective gear and realized we could help,” Mateo Arcos, co-coordinator of the Hacking COVID-10 EC initiative told teleSUR.


The group began with 60 volunteers that decided to produce face shields, which are PPEs that provide over the top, side, and front face protection against splash and splatter of fluid-borne pathogens. Now the initiative has over 280 volunteers. The decision to opt for this was based on the fact many medical personel across the country were cutting off plastic bottles in order to make their own masks, crippling health workers’ ability to respond to the coronavirus pandemic. “There is a clear scarcity of it so we opted to make them, also as it was the more viable option,” Arcos added.

Read more …

Imagine the earth protecting herself from mankind by debilitating its powers to destroy her any further.

Electricity Consumption In Italy Plummets Amid Countrywide Quarantine (ZH)

Italy has gone full “Wuhan” with a massive lockdown across the country amid a virus crisis that has paralyzed its economy. So far, 63,927 confirmed cases of COVID-19 had been reported, with 6,077 deaths. The Italian economy is being dragged into a depression as the fast-spreading virus cripples its northern regions, forcing the government to ban travel and close all industrial production across the country. The impact of the virus on Italy’s economy led to the collapse of electricity consumption last week. Electricity usage fell 16% YoY for March 16-22, according to Bloomberg calculations based on Terna SpA data.

Diego Marquina, an analyst covering European power markets at BloombergNEF, noted on Monday that electricity demand in every European country has declined due to the impact of quarantine measures to mitigate the virus spread. Marquina said if declining electricity consumption is “sustained…weekday power demand would most likely fall to Sunday levels – a 10-26% reduction, depending on the country.” He estimates that power prices could drop between 6-18 EUR/MWh.

Read more …

Remeber that, as I wrote yesterday in , the leadership in all these countries failed miserably. All of them, including China.

China’s Propaganda Campaign in Europe (Kern)

Fortune magazine explained the motivation behind China’s propaganda push: “For China, the outreach to Europe is part of an effort to claw back an international leadership role after early cover-ups helped the virus spread well beyond its borders. President Xi Jinping’s government has sought to silence critics, including reporters and online commentators, and also spread conspiracy theories about where the virus originated. “Geopolitically, China’s move to brand itself as Europe’s savior aims to improve its standing on a global stage as both spar with the Trump administration. China and the U.S. have continued a wider fight for global influence — Beijing kicked out more than a dozen American journalists this week — while also seeking to deflect blame for their handling of the disease.”

On March 12, China sent to Italy a team of nine Chinese medical staff along with some 30 tons of equipment on a flight organized by the Chinese Red Cross. The head of the Italian Red Cross, Francesco Rocca, said that the shipment “revealed the power of international solidarity.” In recent days, China has also sent aid to:

• Greece, March 21. An Air China plane carrying 8 tons of medical equipment — including 550,000 surgical masks and other items such as protective equipment, glasses, gloves and shoe covers — arrived at Athens International Airport. The Chinese Ambassador to Greece, Zhang Qiyue, referred to words by Aristotle: “What is a friend? A single soul living in two bodies.” He said that “difficult times reveal true friends” and that China and Greece are “working closely together in the fight against the coronavirus.” This, he said, “confirms once again the excellent relations and friendship between the two peoples.”

• Serbia, March 21. China flew six doctors, ventilators and medical masks to Serbia to help Belgrade halt spreading of the coronavirus infection. “A big thank you to President Xi Jinping, the Chinese Communist Party and the Chinese people,” said Serbian President Aleksandar Vucic. China’s ambassador to Belgrade, Chen Bo, said the aid was a sign of the “iron friendship” between the two countries.

• Spain, March 21. The founder and president of the Chinese technology company Huawei, Ren Zhengfei, donated one million face masks. They were expected to arrive at Zaragoza Airport in northeastern Spain on March 23. The masks will be stored at a warehouse belonging to the Spanish apparel retailer Zara. From there, Zara will put its logistics network at the service of the Spanish government.

• Czech Republic, March 21. A Ukrainian cargo plane reportedly carrying 100 tons of medical supplies from China arrived at the airport in Pardubice, a city situated 100 kilometers east of Prague. On March 20, a Chinese plane carrying one million masks arrived in the Czech Republic, which reportedly ordered another 5 million respirators from China along with 30 million masks and 250,000 sets of protective clothing.

• France, March 18. China sent to France, the second-most powerful country of the European Union, a batch of medical supplies, including protective masks, surgical masks, protective suits and medical gloves. The Chinese Embassy in France tweeted: “United we will win!” The following day, China sent a second batch of supplies. The Chinese Embassy tweeted: “The Chinese people are next to the French people. Solidarity and cooperation will allow us to overcome this pandemic.”

• The Netherlands, March 18. China Eastern Airlines, China Southern Airlines and Xiamen Airlines, codeshare partners with KLM Royal Dutch Airlines, donated 20,000 masks and 50,000 gloves. The shipment arrived at Amsterdam Airport Schiphol on a Xiamen Airlines flight. “These are extremely difficult times for our country and our company, so we are very happy with this help for KLM and for the Netherlands,” KLM CEO Pieter Elbers said. “Less than two months ago, KLM made a donation to China and now we are being helped so wonderfully and generously.”

• Poland, March 18. The Chinese government pledged to send Poland tens of thousands of protective items and 10,000 coronavirus test kits. On March 13, the Chinese Embassy in Warsaw sponsored a videoconference during which experts from China and Central Europe shared their knowledge on tackling the coronavirus.

• Belgium, March 18. A Chinese cargo plane carrying 1.5 million masks landed at Liege Airport. The masks, which will be distributed to Belgium, France and Slovenia, were donated by Jack Ma, the founder of Alibaba, a Chinese ecommerce giant known as the “Amazon of China.”

• Czech Republic, March 18. A plane carrying 150,000 test kits for coronavirus landed in Prague. The Ministry of Health paid about CZK 14 million ($550,000) for 100,000 testing kits, while another 50,000 kits were paid for by the Ministry of the Interior. Transport was provided by the Ministry of Defense.

• Spain, March 17. A Chinese plane carrying 500,000 masks arrived at Zaragoza Airport. “The sun always rises after the rain,” Chinese President Xi Jinping told Spanish Prime Minister Pedro Sánchez. He said that the friendship between China and Spain will be stronger and bilateral ties will have a brighter future after the joint fight against the virus. Xi said that after the pandemic, both countries should intensify exchanges and cooperation in a wide range of fields.

• Belgium, March 16. Another shipment of medical supplies donated by the Jack Ma Foundation and Alibaba Foundation for epidemic prevention in Europe arrived at Liege Airport.

Read more …

Unlimited purchases announced and stocks tank. Is that the end of the line?

All the Fed’s Corporate & Investor Bailout Programs and SPVs (WS)

With its announcement this morning, the Fed expanded its three fundamental mechanisms in which it is once again bailing out the biggest risk takers, over-leveraged companies, hedge funds, mortgage REITs, and PE firms; wiping out cash-flows for crash-averse savers and holders of Treasury securities; and creating special opportunities for well-connected individuals who have access to the Fed’s programs. And let’s get this straight: None of the programs are going to fix the economy.

These bailout programs fall into three mechanisms:
1. Fed buys assets directly. Until this morning, this was limited to Treasury securities, agency debt, and residential MBS backed by Ginnie Mae (US government agency) and the GSEs, Freddie Mac and Fannie Mae. This morning, the Fed added agency-backed commercial mortgage-backed securities (CMBS) to the list.

2. Fed sets up special purpose vehicles (SPV) and lends to the SPVs which then buy assets or lend. These SPVs can buy assets the Fed is not allowed to buy and they can lend to entities and individuals to buy certain assets. Under the Federal Reserve Act, these SPVs require taxpayer backing from the Treasury Department to protect the Fed from losses.

3. The Fed lends to its 24 Primary Dealers against collateral, and that collateral can be anything the Fed decides, including now stocks – and in the end finally old bicycles.

The entire alphabet soup of new programs will take a while to get set up and get started. And since they won’t fix the economy and its underlying problems, they might not work as well in accomplishing their goals – making the wealthy wealthier – as they did during the Financial Crisis. So we’ll have to see how this works out.

Read more …

 

 

 

 

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Mar 232020
 


Rembrandt van Rijn Man in Oriental Costume (The Noble Slav) 1632

 

It’s been two weeks since I last wrote an original article. That’s a long time. Then again, that article was The Virus is a Time Machine, which was – and still is, pardon the pun, deadly accurate. All my time between then and now has gone into the daily Debt Rattles, which have increasingly become almost exclusively Virus Rattles. A lot of it has been numbers, not because of the numbers themselves, but because they are what reveal the trends, the trajectory, the dynamics to us.

When I first saw in the numbers a few days ago that US cases and deaths were both up some 45% over 24 hours, that frightened me. Because it told me a story. Without the numbers, that story is not there. That is also why I think it’s absolutely no use to look at these numbers and compare them to other ones, like those of regular flu, or traffic deaths, or whatever people come up with.

The coronavirus is new, it’s very young, even in virus time. You can’t compare it to other viruses. I have this image in my mind of Arnold Schwarzenegger peering into Jesus’s manger and saying: “what’s the problem, I can take that guy”. Don Ciccio had a better idea when he chased down 9-year-old Vito Andolini at the start of Godfather II: “when he grows up, he’ll come after me”.

 

The people responsible for the corona crisis getting so out of hand where you live are your “leaders”, the same ones who are now telling you to stay home 24/7 in order to solve the crisis they caused, not you. I’m not saying that to start a revolt, because now they’re the only people standing between you and anarchy, but please stop praising them. I see so many instances of people saying their leaders looked so reassuring on TV last night etc. I get that, I get why, but they are all abject failures.

If you’re in charge of a country’s government, you have at your disposal a State Department or some equivalent, you have dozens of people following world news in depth, and you have direct access to whatever the WHO says. Put all that together and you have no excuse for sitting on your hands 2+ months only to see the situation having gone way out of hand. And it makes no difference if all your peers have been as negligent as you are, it’s your job.

Last week the Hong Kong Free Press ran an article saying that China could have cut 95% of cases if its measures to contain the outbreak had begun three weeks earlier. The same is true where you live. China screwed up royally, and so did and do your respective “leaders”.

 

 

In a way, it’s good to see that more people and more news outlets have now woken up to what’s going on, and then some lately, but it’s also weird to see so many “sources” act as if they own the topic, and invented it, who never knew what it was until like ten days ago, while the Automatic Earth have been on top of it for over 2 months. Which is why, inevitably, they, the overnight experts, get most of it wrong. Just like the governments and politicians who have all of a sudden awakened from their slumber, and are now ordering people to do whatever their “leaders” think of next.

The problem with that, with relying on coming up with things without having a solid background like the Automatic Earth could have provided them with, is the same problem that caused them, both media and political systems, to be so awfully late in the first place. I first covered that in The Party and the Virus a full 7 weeks ago.

That was back when it appeared to be all about China, but it’s just as applicable in the west. The way we select our politicians, and our media, doesn’t allow for them to risk crying wolf. They will always wait to see what their peers do, who therefore also wait. Safety first for them, but -well, obviously- not for you.

That’s what we’re looking at today. The age-old excuse of “nobody knew, and nobody could have known”, just look at my peers, look at all other PM’s and presidents and governments. There is no behavior more typical for modern day politicians, whether they’re Chinese party officials or western cabinet ministers. But it’s all BS; they could have known, and therefore should have, because it’s their job. But they were fast asleep.

Trump and Boris Johnson may be taking the denial phase to a whole new level, and Bolsonaro too, but they really only fit a pattern. And ironically even they see their popularity rise, because people are scared and seek security and solace and protection, no matter how poorly dressed up.

Saying that Donald and Boris are terrible, no matter how justified, only serves to hide the failures of all other politicians, no matter how inclined you are to believe their messages. The simple fact is they are all terrible, they were all 12 weeks or more late in their (re-)actions.

Not that they should have ordered a billion dollars in respirators at the end of December, but when the first victims died in China, and the WHO was notified, they should have taken inventory of the state of their countries’ health systems, their response systems, the whole set-up. In order to be at the helm IF disaster struck.

They never did, or not till much later. That’s why medical supplies of all applicable shapes and forms are woefully short today in Italy, and will be soon in dozens of other countries. Please stop praising these people. They all failed horribly at their jobs. Their collective failure has already caused thousands of deaths, and that may well become millions.

 

 

The WHO is praised too, but it is just as guilty of deadly neglect as all the politicians. The organization and its directors get paid large sums of money to protect the world from events exactly like this. And they did not; they are not only useless, they are harmful.

On December 30 2019, several people, among whom Wuhan doctor Li Wenliang, who died of the disease mere days later, talked on social media like WeChat about the outbreak. On December 31, Li Wenliang was called in for questioning, Wuhan health officials confirmed 27 cases of the new illness -a “pneumonia of unclear cause”-, and China, which now figured denial was no longer an option,”officially” told the WHO about the outbreak.

On January 14, the WHO said Chinese authorities had seen “no clear evidence of human-to-human transmission of the novel coronavirus.” On January 15, the first confirmed US case left Wuhan and arrived in the US with the virus. On January 20, 6 days after the WHO statement, top Chinese doctor Zhong Nanshan announced the virus CAN be passed between people. He would later state that the outbreak would be over by early February.

On January 21 the CDC confirmed the first coronavirus case in the United States. Then came Lunar New Year and 100s of millions of Chinese traveled to their families. By then the WHO should obviously long have sounded a big fat five alarm. They didn’t.

Instead, WHO director general Tedros Adhanom Ghebreyesus repeatedly heaped praise on China. He did this on January 28, then again on February 12, (when China still refused to let a WHO team enter the country):

On January 28, Tedros met with Chinese President Xi Jinping in Beijing. Following the meeting, Tedros commended China for “setting a new standard for outbreak control” and praised the country’s top leadership for its “openness to sharing information” with the WHO and other countries.

… and many times after. On January 23, the WHO’s emergency committee couldn’t decide whether to declare a “public health emergency of international concern” (PHEIC). Tedros, who held the decisive vote, despite admitting that “this is an emergency in China.”, declined. A week later, he did declare a PHEIC. What’s much worse, along those same lines, the WHO declared a pandemic only on March 11.

 

 

Meanwhile, the US is well on its way to become the worst hit country of all. Someday we (if we survive) will look at those spring break kids on Florida’s beaches and wonder how crazy people can get. Two weeks ago when I wrote The Virus is a Time Machine, the US reported 409 cases. As we speak the tally stands at 40,841, and it will rise further before the day is done.

Please be good and safe. Follow the instructions about safe distance and stuff. In Britain, stay 2 meters away from people, in Holland, 1.5 meters. Must be the air density. But just do what they say for now. It’ll get more bizarre later, plenty time to resist and protest.

Follow those “directions” for now, but whatever you do, please never ever praise the very people who dropped the ball so humongously to cause so much suffering, only to take unprecedented control over your lives, and telling you it’s for your own good.

It’s not that they planned this all, there are too many conspiracy notions out there about that too. People have through history hugely underestimated the power of incompetence, and history rhymes so much it hurts.

Get through this thing, it won’t last forever, people will force an end to lockdowns before the summer’s over, simply because people are social animals; can’t keep us apart.

Next up: the same clowns in charge of “fixing” the economy broken by the negligence and the incompetence of, yes, the same clowns. Better start preparing right now. If you think this virus thing is bad, wait till you see what they have on offer next.

 

 

Much as I don’t want to, I must ask for your support. Readership is up a lot, but ad revenue only keeps dropping. I’ve said it before, it must be possible to run a joint like 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?

You heard it here first, like so many other things. And no, though it would be far more lucrative financially, the Automatic Earth will not adopt any paywalls, not here and not on Patreon. But you can still support us there, as well as right here. It’s easy.

 

 

 

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

 

Mar 232020
 


Harris&Ewing House-Capitol tunnel (may get moving walk), Washington, DC 1939

 

How Long to 1 Million US Cases? (Mish)
Nobel Laureate Predicts A Quicker Coronavirus Recovery (LAT)
Canadian Doctor Rigs Ventilator to Treat 9 Patients Instead of One (IE)
Coronavirus May Have Existed In Italy Since November: Local Researcher (CGTN)
The Epicenter of the COVID-19 Pandemic and Humanitarian Crises in Italy (NEJM)
The Government Budget Deficit Is About To Explode (CNBC)
Senate Democrats Block Mammoth Coronavirus Stimulus Package (Hill)
Blame Game Heats Up As Senate Motion Fails (Hill)
Total Cost of Her COVID-19 Treatment: $34,927.43 (Time)
Coronavirus Reveals Financial Irresponsibility Of Americans (Hill)
Preventing COVID-19 From Infecting the Commercial Mortgage Market (Barrack)
Singapore Airlines Slashes 96% Of Capacity, Grounds Most Planes (CNA)
China’s Housing Bubble Bursts (ZH)
New Zealand To Go Into Month-Long Lockdown (G.)

 

 

Cases 345,292 (+ 33,496 from yesterday’s 311,796)

Deaths 14,925 (+ 1,854 from yesterday’s 13,071)

 

 

Haven’t shown these two graphs from Worldometer in a while. Obvious enough?!

 

 

 

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

One look at the US suffices:

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 13% !! –

 

 

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

 

 

From COVID2019Live.info:

 

 

From COVID2019.app:

 

 

Reported US coronavirus cases via @CNN:

3/1: 89
3/2: 105
3/3: 125
3/4: 159
3/5: 227
3/6: 331
3/7: 444
3/8: 564
3/9: 728
3/10: 1,000
3/11: 1,267
3/12: 1,645
3/13: 2,204
3/14: 2,826
3/15: 3,505
3/16: 4,466
3/17: 6,135
3/18: 8,760
3/19: 13,229
3/20: 18,763
3/21: 25,740
Now: 35,070

Note: unlike many other nations, US numbers are updated several times a day.
Note 2: about half of US cases are in New York State. It it were a country, it would be in 7th place in the world.

 

 

The US would have to pass China in total infections by Thursday, 35,000 vs 81,000 now. Almost tripling in 3 days. I don’t know, and I’m not the biggest optimist around here.

How Long to 1 Million US Cases? (Mish)

Inquiring minds are investigating a relatively new data feed from the Covid Tracking Project. I plot four data series for the US: Negative tests, positive tests, hospitalized, and deaths. Arguably, hospitalizations are the most significant column but the project only has two days worth of data. Once I have another dfats point or two, I will plot a trendline manually.


Trendlines At the current pace, the number of positive coronavirus cases would hit 100,000 on March 26, and 1,000,000 on April 3. At the current pace, the number of coronavirus deaths would hit 1,000 on March 26, and 10,000 on April 5. Those are not my projections, those are observations of what would happen if the current trends last that long at the same pace.

Read more …

Your good news of the day. Based on new deaths levelling off.

Nobel Laureate Predicts A Quicker Coronavirus Recovery (LAT)

Michael Levitt, a Nobel laureate and Stanford biophysicist, began analyzing the number of COVID-19 cases worldwide in January and correctly calculated that China would get through the worst of its coronavirus outbreak long before many health experts had predicted. Now he foresees a similar outcome in the United States and the rest of the world. While many epidemiologists are warning of months, or even years, of massive social disruption and millions of deaths, Levitt says the data simply don’t support such a dire scenario — especially in areas where reasonable social distancing measures are in place. “What we need is to control the panic,” he said. In the grand scheme, “we’re going to be fine.”

Here’s what Levitt noticed in China: On Jan. 31, the country had 46 new deaths due to the novel coronavirus, compared with 42 new deaths the day before. Although the number of daily deaths had increased, the rate of that increase had begun to ease off. Essentially, although the car was still speeding up, it was not accelerating as rapidly as before. “This suggests that the rate of increase in number of the deaths will slow down even more over the next week,” Levitt wrote in a report he sent to friends Feb. 1 that was widely shared on Chinese social media. And soon, he predicted, the number of deaths would be decreasing every day.

Three weeks later, Levitt told the China Daily News that the virus’ rate of growth had peaked. He predicted that the total number of confirmed COVID-19 cases in China would end up around 80,000, with about 3,250 deaths. This forecast turned out to be remarkably accurate: As of March 16, China had counted a total of 80,298 cases and 3,245 deaths — in a nation of nearly 1.4 billion people where roughly 10 million die every year. The number of newly diagnosed patients has dropped to around 25 a day, with no cases of community spread reported since Wednesday. Now Levitt, who received the 2013 Nobel Prize in chemistry for developing complex models of chemical systems, is seeing similar turning points in other nations, even ones that did not instill the draconian isolation measures that China did.

He analyzed 78 countries with more than 50 reported cases of COVID-19 every day and sees “signs of recovery.” He’s not looking at cumulative cases, but the number of new cases every day — and the percentage growth in that number from one day to the next. [..] Based on the experience of the Diamond Princess, he estimates that being exposed to the new coronavirus doubles a person’s risk of dying in the next two months. However, most people have an extremely low risk of death in a two-month period, and that risk remains extremely low even when doubled.

Read more …

More good news. He can do it in 10 minutes.

Canadian Doctor Rigs Ventilator to Treat 9 Patients Instead of One (IE)

As hospitals scramble to secure more ventilators, some doctors are getting creative in order to help their patients. Such is the case with Canadian doctor Dr. Alain Gauthier, an anesthetist at the Perth and Smiths Falls District Hospital in Ontario. Gauthier, who has a Ph.D. in respiratory mechanics, turned one hospital ventilator into a machine that can serve nine clients using do-it-yourself mechanics. The process was so brilliant that some have even called him an “evil genius.” Gauthier was inspired by YouTube videos created by two Detroit doctors in 2006, according to CBC News. He said he created a complex ventilator to offer people the best chance at survival. “At one point we may not have other options,” Gauthier told CBC News. “The option could be well, we let people die or we give that a chance.”

Read more …

I would lend much more credence to this if it didn’t come from the state-run China Global Television Network. It feels like they want to plant the narrative out there that it didn’t start in China at all.

Coronavirus May Have Existed In Italy Since November: Local Researcher (CGTN)

As COVID-19 spreads across the world, many are interested in the origin of the virus behind this deadly disease. Fingers have been pointed at China, the U.S. and other places. Recently, a pharmacological researcher provided another possible lead to National Public Radio (NPR), a U.S. media outlet. Dr. Giuseppe Remuzzi, director of the Mario Negri Institute for Pharmacological Research in Italy, said he heard from general practitioners in the country’s Lombardy region that “they remember having seen very strange pneumonia, very severe, particularly in old people in December and even November.” “This means that the virus was circulating, at least in [the northern region of Lombardy and before we were aware of this outbreak occurring in China,” he told NPR.

Though Dr. Remuzzi originally used these words to answer a different question – why Italy acted later than expected on COVID-19 – NPR singled out this particular information in a tweet because it may relate to the origin of the novel coronavirus. China’s CCTV did the same thing by putting it on the headline of their report, though Dr. Remuzzi’s latest research mainly concerns how dire the situation is for Italy rather than the origin of the disease. What’s more interesting is that the English-language comments under the NPR tweet seem to completely differ from the Chinese-language ones under the CCTV Weibo. Many English comments suspect that China hid the situation from the world for a long time and that’s why similar symptoms showed up in Italy before the outbreak.

“China lied, people died” was most liked comment under NPR’s tweet. “So the Chinese government covered it up for even longer than we thought,” another comment said. A lot of Chinese comments, on the other hand, concluded that the virus originated in the U.S., so both China and Italy are victims. “Go to Trump for answers,” said a Weibo comment with more than 2,500 likes. “COVID-19 is a U.S. virus,” said another comment.

Read more …

When hospitals become super-spreaders. All it takes is enough sick people.

“Lombardy’s health care workers have been badly hit w/ infections–the differences with other regions are staggering. A recent paper by local docs argues that hospitals might be a key source of transmission there.”

The Epicenter of the COVID-19 Pandemic and Humanitarian Crises in Italy (NEJM)

In a pandemic, patient-centered care is inadequate and must be replaced by community-centered care. Solutions for Covid-19 are required for the entire population, not only for hospitals. The catastrophe unfolding in wealthy Lombardy could happen anywhere. Clinicians at a hospital at the epicenter call for a long-term plan for the next pandemic. We work at the Papa Giovanni XXIII Hospital in Bergamo, a brand-new state-of-the-art facility with 48 intensive-care beds. Despite being a relatively small city, this is the epicenter of the Italian epidemic, listing 4,305 cases at this moment — more than Milan or anywhere else in the country. Lombardy is one of the richest and most densely populated regions in Europe and is now the most severely affected one. The WHO reported 74,346 laboratory-confirmed cases in Europe on March 18 — 35,713 of them in Italy.


Our own hospital is highly contaminated, and we are far beyond the tipping point: 300 beds out of 900 are occupied by Covid-19 patients. Fully 70% of ICU beds in our hospital are reserved for critically ill Covid-19 patients with a reasonable chance to survive. The situation here is dismal as we operate well below our normal standard of care. Wait times for an intensive care bed are hours long. Older patients are not being resuscitated and die alone without appropriate palliative care, while the family is notified over the phone, often by a well-intentioned, exhausted, and emotionally depleted physician with no prior contact. But the situation in the surrounding area is even worse. Most hospitals are overcrowded, nearing collapse while medications, mechanical ventilators, oxygen, and personal protective equipment are not available.

Patients lay on floor mattresses. The health care system struggles to deliver regular services — even pregnancy care and child delivery — while cemeteries are overwhelmed, which will create another public health problem. In hospitals, health care workers and ancillary staff are alone, trying to keep the system operational. Outside the hospitals, communities are neglected, vaccination programs are on standby, and the situation in prisons is becoming explosive with no social distancing. We have been in quarantine since March 10. Unfortunately, the outside world seems unaware that in Bergamo, this outbreak is out of control.


Western health care systems have been built around the concept of patient-centered care, but an epidemic requires a change of perspective toward a concept of community-centered care. What we are painfully learning is that we need experts in public health and epidemics, yet this has not been the focus of decision makers at the national, regional, and hospital levels. We lack expertise on epidemic conditions, guiding us to adopt special measures to reduce epidemiologically negative behaviors. For example, we are learning that hospitals might be the main Covid-19 carriers, as they are rapidly populated by infected patients, facilitating transmission to uninfected patients. Patients are transported by our regional system,1 which also contributes to spreading the disease as its ambulances and personnel rapidly become vectors. Health workers are asymptomatic carriers or sick without surveillance; some might die, including young people, which increases the stress of those on the front line.

Read more …

“It’s truly a bridge to the other side of an act of God…”

The Government Budget Deficit Is About To Explode (CNBC)

Remember when people were all worked up over trillion-dollar government budget deficits? Those might seem like the good old days, once Congress and the White House finish up the coronavirus rescue package expected to be approved in the next few days. Estimates of just how big the final bill would be vary, but it’s assured that it will be a historic moment for sheer fiscal force being exerted at a time of economic duress. Administration statements over the past few days point to something on the order of $2 trillion in economic juice. By contrast, then-President Barack Obama ushered an $831 billion package through during the financial crisis.

That type of fiscal burden comes as the government already has chalked up $624.5 billion in red ink through just the first five months of the fiscal year, which started in October. That spending pace extrapolated through the full fiscal year would lead to a $1.5 trillion deficit, and that’s aside from any of the spending to combat the coronavirus. Already, the national debt stands at more than $23.5 trillion and will be on track to eclipse $25 trillion. Taxpayers shelled out $574.6 billion in fiscal 2019 on interest payments for the debt and another $229.1 billion in fiscal 2020. In short, the shock from the COVID-19 spread will blow a fiscal hole through Washington, D.C., that could take years if not decades to patch.

Hand-wringing over what this will all do to the debt and deficit situation, however, will have to wait for another day. In times of crisis, there is little patience for fiscal austerity, only a sense of urgency that while government spending can’t stop the virus from spreading, it can mitigate what will be profound economic damage. “It’s truly a bridge to the other side of an act of God,” economist Paul McCulley told CNBC.com. “We’ll deal down the road with the impacts on so many fronts of society with the whole thing. Right now, worrying about fiscal incontinence is the exact opposite of where we should be. We should have fiscal robustness implemented through effectively a joint venture between fiscal and monetary policy.”

Read more …

Romney to Senate Dems: “Keep this up a little longer and we will go from social distancing to social destruction.”

Senate Democrats Block Mammoth Coronavirus Stimulus Package (Hill)

Senate Democrats on Sunday blocked a coronavirus stimulus package from moving forward as talks on several key provisions remain stalled. Senators voted 47-47 on advancing a “shell” bill, a placeholder that the text of the stimulus legislation would have been swapped into, falling short of the three-fifths threshold needed to advance the proposal. Hopes of a quick stimulus deal quickly unraveled on Sunday as the four congressional leaders and Treasury Secretary Steven Mnuchin failed to break the impasse. Senate Majority Leader Mitch McConnell (R-Ky.) also delayed the procedural vote for three hours as they tried to get a deal. Democratic senators argue that the GOP bill includes several “non-starters” and walks back areas of agreement, such as expanding unemployment insurance, they thought they had reached with Republicans.

They emerged from a closed-door lunch fuming over the bill circulated by Republicans and called for McConnell to hold off on the 3 p.m. cloture vote. “We are pleading with McConnell not to call this vote,” Sen. Dick Durbin (Ill.), the No. 2 Senate Democrat, said after the lunch. “It’s a serious mistake. We have not negotiated this to the point of agreement yet.” Sen. Doug Jones (D-Ala.), who is up for reelection in a deeply red state, said that the Senate needed to be “as unified as possible.” “We don’t need split votes,” he said. Sen. Ed Markey (D-Mass.) added that the proposal put forward by Republicans was “totally inadequate.” That resulted in McConnell delaying the vote to 6 p.m.

Read more …

I vote against all politicians.

Blame Game Heats Up As Senate Motion Fails (Hill)

The finger-pointing on Capitol Hill reached a fever pitch Sunday evening, as both sides rushed to blame the other after a Senate motion to move a mammoth coronavirus relief bill failed on the chamber floor. Senate Majority Leader Mitch McConnell (R-Ky.) quickly took to the floor to hammer Democratic leaders, particularly Speaker Nancy Pelosi (D-Calif.), for what he characterized as petty obstruction that ignores the urgency of the crisis. “We were doing a good job of coming together until this morning, when the Speaker showed up — we don’t have a Speaker in the Senate, that’s in the House — and when the leader [Sen. Charles Schumer (D-N.Y.)] and the speaker came in [they] blew everything up,” an agitated McConnell, his face flushed, said walking off the Senate floor.

Democrats quickly countered with accusations that it was McConnell who had abandoned the negotiations the night before, when the Senate leader announced that Republicans would begin drafting the massive stimulus package before Democrats had endorsed it. “There was a good spirit of negotiation into early last night. And right about 8 o’clock, our side sensed a sort of change in attitude, an unwillingness to give and negotiate, for reasons we don’t fully understand,” said Sen. Tom Carper (D-Del.). The tense back-and-forth came moments after Democrats blocked a procedural motion to advance Congress’s third round of emergency relief — a package approaching $2 trillion — in response to the global coronavirus pandemic, which has devastated markets, sparked mass layoffs and ravaged businesses large and small across the country.

Democrats have raised a long list of objections to the Republicans’ proposal, saying the bill does too little to protect the unemployed, feed the hungry, subsidize states and cushion students facing mounds of debt. They’re also up in arms over language to provide up to $500 billion in loans and guarantees for corporations, at the sole discretion of the administration.

Read more …

And she was lucky enough to get tested.

Total Cost of Her COVID-19 Treatment: $34,927.43 (Time)

When Danni Askini started feeling chest pain, shortness of breath and a migraine all at once on a Saturday in late February, she called the oncologist who had been treating her lymphoma. Her doctor thought she might be reacting poorly to a new medication, so she sent Askini to a Boston-area emergency room. There, doctors told her it was likely pneumonia and sent her home. Over the next several days, Askini saw her temperature spike and drop dangerously, and she developed a cough that gurgled because of all the liquid in her lungs. After two more trips to the ER that week, Askini was given a final test on the seventh day of her illness, and once doctors helped manage her flu and pneumonia symptoms, they again sent her home to recover. She waited another three days for a lab to process her test, and at last she had a diagnosis: COVID-19.

A few days later, Askini got the bills for her testing and treatment: $34,927.43. “I was pretty sticker-shocked,” she says. “I personally don’t know anybody who has that kind of money.” Like 27 million other Americans, Askini was uninsured when she first entered the hospital. She and her husband had been planning to move to Washington, D.C. this month so she could take a new job, but she hadn’t started yet. Now that those plans are on hold, Askini applied for Medicaid and is hoping the program will retroactively cover her bills. If not, she’ll be on the hook. She’ll be in good company. Public health experts predict that tens of thousands and possibly millions of people across the United States will likely need to be hospitalized for COVID-19 in the foreseeable future.

And Congress has yet to address the problem. On March 18, it passed the Families First Coronavirus Response Act, which covers testing costs going forward, but it doesn’t do anything to address the cost of treatment. While most people infected with COVID-19 will not need to be hospitalized and can recover at home, according to the World Health Organization, those who do need to go to the ICU can likely expect big bills, regardless of what insurance they have. As the U.S. government works on another stimulus package, future relief is likely to help ease some economic problems caused by the coronavirus pandemic, but gaps remain.

Read more …

Of course there are Americans who borrow and spend too much. But how for the love of God is that a licence to even risk labeling people working 3 jobs and still not making ends meet, as irresponsible idiots who should save more? Who is irresponsible around here?

Coronavirus Reveals Financial Irresponsibility Of Americans (Hill)

How long could you sustain your household if you were to stop earning income? If you are like most Americans, the answer is not for long. Only 40 percent of Americans can afford an unexpected $1,000 expense with their savings. In fact, nearly 80 percent of workers are living paycheck to paycheck. It is no surprise that the probability of an economic recession brought on by the coronavirus pandemic caused many to worry. In major cities such as Boston, New York, Los Angeles, and San Francisco, restaurants and businesses have been ordered to close. For many hourly workers, this means no paychecks in the coming weeks. Almost one in five Americans have already lost their jobs or have reduced hours.

At the same time, salaried workers are concerned about job security, as mass layoffs at numerous companies loom. While the situation is understandably stressful for every person affected, it serves as a sobering reminder that Americans must learn to live within their means and regularly save money. The need for all Americans to be able to sustain themselves for at least a few months on savings is accentuated during a time of crisis. This means planning ahead when times are good. Financial planners suggest saving at least 20 percent of take home income, while spending at most 30 percent on discretionary items. Yet too many workers still fail to think twice about spending entire paychecks for things they want but do not need.

Recent decades have offered us relative luxury. More than 80 percent of Americans own smartphones. The same portion of households own one high definition flat screen television, while over half of households own more than one. Over 60 percent of Americans dine out at least once a week, while nearly 20 percent dine out three or more times a week. The current panic is refocusing us on what is important. We now stockpile the things necessary for our health. Smartphones, fancy televisions, and restaurant meals are usually luxuries rather than necessities. Living within our means is not just rhetoric. It is a means of guarding ourselves during times like these. We have so much to learn from those who came before us. How many of our grandparents fared the austerity of the World Wars and the Great Depression, discovering to save, mend, and repair?

Read more …

The richer suffer more, they’ll have you know. What pricks this dick’s balloon, though, is suggesting that prior to corona, there was a “normal chain of revenue generation etc.” and “solid economic fundamentals”. There haven’t been any normal markets, and that includes commercial mortgages, since Alan Greenspan. You may like to disagree, but just wait till the Fed folds.

Preventing COVID-19 From Infecting the Commercial Mortgage Market (Barrack)

As a major participant in the non-bank real estate lending industry, I am fully supportive of the nation’s extraordinary response to contain COVID-19. The profound impact of the COVID-19 pandemic on the public health and safety of all Americans is unprecedented and the response measures being taken by federal, state, and local government agencies are essential and critical. One aspect of this all-out assault on an invisible enemy — in the effort to suppress the contagion and manage the precious resources of our medical community and first responders — has been the unfortunate but necessary cessation of general commerce nationwide.

Now everyone, from corporations and small and mid-sized businesses to employees and laborers from all walks of life, has been displaced from the normal chain of revenue generation, cash flow, and income necessary to meet their obligations, from payment of salaries, rent payments, mortgage payments, and all other debts and bills required in the daily life of every business and every American. As a direct consequence of the necessary response measures to COVID-19, high performing mortgage loans across the entire commercial real estate sector (approximately $16 trillion in aggregate), which had previously been grounded in solid economic fundamentals, are suddenly experiencing a temporary meltdown in cash flows.

We are seeing the beginning of a second crisis that will occur in the financial markets that underpin the lifeblood of these employees, workers, and businesses. Based on my own personal past experiences I would like to share with you some thoughts on how to alleviate the potential blockage in the commercial mortgage market which is beginning to raise its perilous head. Addressing this major looming crisis in liquidity in a coordinated manner will be essential in averting a crisis in credit and a long term economic recession.

Read more …

This is just one of many such reports, of course. What I found interesting is that just 5 days ago, Singapore Airlines said it would cut flight capacity by 50%. And you wonder: what happened since Wednesday?

Emirates announced yesterday they would cut all flights, only to be told some flights are essential to services. Those are reinstated.

Singapore Airlines Slashes 96% Of Capacity, Grounds Most Planes (CNA)

Singapore Airlines (SIA) will cut 96 per cent of its capacity that had been scheduled up to the end of April, said the airline on Monday (Mar 23). The decision was made after the further tightening of border controls around the world over the last week to stem the COVID-19 outbreak, SIA said in a news release. About 138 SIA and SilkAir planes, out of a total fleet of 147, will be grounded as a result. Scoot, the company’s low-cost unit, will suspend “most of its network” and will ground all but two of its 49 planes. This comes amid the “greatest challenge that the SIA Group has faced in its existence”, the company said.


“It is unclear when the SIA Group can begin to resume normal services, given the uncertainty as to when the stringent border controls will be lifted,” it said. “The resultant collapse in the demand for air travel has led to a significant decline in SIA’s passenger revenues.” Over the last few days, the SIA Group has drawn on its lines of credits to meet its immediate cash flow requirements, it said, adding that it is in discussions with several financial institutions on its future funding requirements. “The company is actively taking steps to build up its liquidity, and to reduce capital expenditure and operating costs,” it added. SIA said it is in talks with aircraft manufacturers to defer upcoming deliveries, in the hopes of delaying payment for those deliveries.

Read more …

This is a bigger threat to Xi than the coronavirus. And why does it happen? Because China’s second-largest property developer wants to be the world’s biggest maker of electric cars…

China’s Housing Bubble Bursts (ZH)

Now that the world is firmly focusing on apocalyptic forecasts about the state of the US and global economy, with St Louis Fed president James Bullard the latest to pour gasoline into the fire with his worst-case prediction of a 50% GDP drop and 30% surge in unemployment in Q2, it is easy to forget that China, which started this whole pandemic, is still in economic lockdown. And while Beijing is pretending that the Shanghai Sniffles are now firmly behind it, and forcing people back to work while openly fabricating disease numbers – because like Lloyd Blankfein it has realized that an economic depression is an even worse outcome than millions infected – the reality is that China’s economy is facing an unprecedented crisis of its own.


Today we got a stark reminder of that, when Evergrande Group – China’s second-largest property developer by sales – tumbled in early trading Monday after saying it expects full-year earnings to fall by half. As Bloomberg first reported, the residential property developer said in an exchange filing Sunday that net profit for 2019 is expected to come in it around 33.5 billion yuan ($4.7 billion), a drop of about 50% from the previous year. “The decrease in profit is mainly attributable to the delivery and settlement of the lower-priced clearance stock properties in 2019, which drove down the unit price of the property delivered,” Evergrande said. That sent the firm’s Hong Kong-traded shares down as much as 17.4% on Monday, the biggest intraday drop since July 2015.

And with the stock tumbling by more than two-thirds since its late 2017 highs, Citigroup downgraded the stock to “sell” and slashed its price target by 56%, as the expected decline in core profit was far below Citigroup’s estimate of a 27% year-on-year drop. To be sure, there are plenty of reasons to dump the stock: Evergrande is one of China’s most-indebted developers with net debt of $88.5 billion as of June. As Bloomberg reminds us, the company has been pouring billions of dollars into acquisitions as its Chairman and major shareholder Hui Ka Yan pursues an ambition to make Evergrande the world’s biggest maker of electric cars in the next three to five years.

Read more …

Ardern sounds a bit too convinced. It’s still just one view.

New Zealand To Go Into Month-Long Lockdown (G.)

New Zealand is preparing to enter a month-long nationwide lockdown from Wednesday night, with the entire country ordered to stay home apart from those in essential services. On Monday the nation was given two days to prepare for schools, businesses and community services to turn off the lights in a desperate bid to stem the spread of the coronavirus. The move came after the number of cases of Covid-19 in New Zealand rose past 100. In an address to the nation, the prime minister, Jacinda Ardern, said she was not willing to put the lives of her citizens in danger. “The worst-case scenario is simply intolerable, it would represent the greatest loss of New Zealanders’ lives in our history and I will not take that chance.”

Ardern announced the country would move to level three measures immediately, and then to four – the highest level – on Wednesday from 11.59pm. “I say to all New Zealanders: the government will do all it can to protect you. Now I’m asking you to do everything you can to protect all of us. Kiwis – go home.” The lockdown will last a month, and if the trend of cases slowed, could be partially eased in specific areas after that. Ardern said it was now established that community transmission was happening in New Zealand and that, if it took off, the number of cases would double every five days, with modelling advising the government that tens of thousands of New Zealanders could die.

[..] Ardern said if the country did not lock down it would face a death toll beyond anything ever experienced before, and she wanted to give health services “a fighting chance”. Thirty-six new cases of the coronavirus were confirmed on Monday, bringing the nationwide total to 102, spread across the North and South islands. Ardern said she knew the measures would be anxiety-inducing for many New Zealanders and they needed to be “strong and kind” to each other during the unprecedented crisis. “Today, get your neighbour’s phone number, set up a community group chat, get your gear to work from home, cancel social gatherings of any size or shape, prepare to walk around the block while keeping a two-metre distance between you.

Read more …

 

 

Oddly appropriate:

 

 

 

 

 

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 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.

 

Mar 212020
 


Dorothea Lange Ex-slave with long memory, Alabama 1937

 

Coronavirus – Getting Angry (John Bronte)
China Is Avoiding Blame by Trolling the World (Atlantic)
From ‘Chinese virus’ to ‘Trumpandemic’ (RT)
Cuomo Orders New York Lockdown, Shuts Down Non-Essential Businesses (NYP)
New Best Friends: Trump And Archfoes Cuomo And Newsom Bond (JTN) )
Trump’s Approval Rating Soars During Handling Of Coronavirus (JTN)
Biden Plans Shadow Coronavirus Briefings (Pol.)
Cuba’s Interferon Alpha 2B, Successful in Treating COVID-19 (TeleSur)
The Doctor Who Helped Defeat Smallpox Explains What’s Coming (Wired)
Pentagon Sends 2,600 Europe-based Personnel Into Quarantine (RT)
Boeing Suspends Dividend, Halts Buybacks, Stops Paying CEO And Chairman (Y!)
National Guard Chief Denies Rumors Of Martial Law Response To Virus (Solomon)
Schiff Claims ‘Immunity’ To Keep Impeachment Phone Subpoenas Secret (JTN)
Strength and Weakness (Kunstler)
CoronaBonds To Hold The Payments System Together (Steve Keen)
Personal Coronavirus Update 02 March 21st 2019 (Steve Keen)

 

 

Relentless. And unfortunately incresiangly political.

 

Cases 279,320 (+ 32,126 from yesterday’s 250,618)

Deaths 11,587 (+ 1,565 from yesterday’s 10,255)

 

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

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 11% !! –

 

 

I would like to have better graphs than the SCMP and COVID2019.app ones, and by that I mean things that I can use in this format. But I don’t see them. Johns Hopkins doesn’t provide these nor does COVID19info.live. The latter even has two different numbers for Confirmed and Infected. Do we need that?

Great admiration for what the Wordometer people are doing, but it would be nice(r) to have multiple sources.

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

 

 

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

 

 

 

 

“I regard the current course of English speaking democracies (other than New Zealand) as mass murder by the political elite. I think history will regard it that way too.”

Coronavirus – Getting Angry (John Bronte)

First – no matter what you say about the Chinese data – and the Chinese data was full of lies at first – China has controlled the outbreak. Shanghai, Beijing, Chongqing are all functional mega-cities with no obvious health catastrophes. The virus has been managed to very low infection rates in Singapore and Taiwan. The numbers (completely real) in Korea show a dramatic slowdown in infection. Korea has not shut restaurants and the like. The place is functioning. But it has had rigorous quarantine of the infected and very widespread testing. It has complete social buy-in. China tests your temperature when you get on a bus or a train. It tests you when you go into a classroom, it tests you when you enter a building. There is rigorous and enforced quarantine.

But life goes on – and only a few are dying. In Singapore nobody has died (yet) though I expect a handful to do so before this over. This is sad (especially for the affected families) but it is not a mega-catastrophe. There is a story in the Financial Times about a town in the middle of the hot-zone in Italy where they have enforced quarantine and tested everyone in the town twice. They have no cases. The second stylized fact – mortality differs by availability of hospital beds.
• A. Coronavirus provided you do not run out of hospital beds probably has a mortality of about 1 percent. In a population that is very old (such as some areas in Italy) the mortality will be higher. In a population that is very young base mortality should be lower. Also co-morbidities such as smoking matter.
• B. If you run out of ICU beds (ventilators/forced oxygen) every incremental person who needs a ventilator dies. This probably takes your mortality to two percent.
• C. Beyond that a lot of people get a pneumonia that would benefit from supplemental oxygen. If you run out of hospital beds many of these people also die. Your mortality edges higher – but the only working case we have is Iran and you can’t trust their data. That said a lot of young people require supplementary oxygen and will die. If you are 40 and you think this does not apply to you then you are wrong. Mass infection may kill you. Iran has said that 15 percent of their dead are below 40.

I will put this in an American perspective with a 70 percent strike rate by the end.
• Option A: 2 million dead
• Option B: 4 million dead
• Option C: maybe 6 million dead.
By contrast, Singapore: a handful of dead. China has demonstrated this virus can be controlled. The town in Italy has demonstrated it can be controlled even where it is rife. Life goes on in Singapore. Schools are open. Restaurants are open in Korea. The right policy is not “herd immunity” or even “flattening the curve”. The right policy is to try to eliminate as many cases as possible and to strictly control and test to keep cases to a bare minimum for maybe 18 months while a vaccine is produced.

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@Jake_Hanrahan: “Blown away by the amount of people talking about China’s response to Covid-19 as some kind of model to follow. Are you serious? They have disappeared at least two whistleblowers and hid news of the problem for weeks before it became impossible to do so.”

China Is Avoiding Blame by Trolling the World (Atlantic)

The evidence of China’s deliberate cover-up of the coronavirus outbreak in Wuhan is a matter of public record. In suppressing information about the virus, doing little to contain it, and allowing it to spread unchecked in the crucial early days and weeks, the regime imperiled not only its own country and its own citizens but also the more than 100 nations now facing their own potentially devastating outbreaks. More perniciously, the Chinese government censored and detained those brave doctors and whistleblowers who attempted to sound the alarm and warn their fellow citizens when they understood the gravity of what was to come. Some American commentators and Democratic politicians are aghast at Donald Trump and Republicans for referring to the pandemic as the “Wuhan virus” and repeatedly pointing to China as the source of the pandemic.

In naming the disease COVID-19, the World Health Organization specifically avoided mentioning Wuhan. Yet in de-emphasizing where the epidemic began (something China has been aggressively pushing for), we run the risk of obscuring Beijing’s role in letting the disease spread beyond its borders. China has a history of mishandling outbreaks, including SARS in 2002 and 2003. But Chinese leaders’ negligence in December and January—for well over a month after the first outbreak in Wuhan—far surpasses those bungled responses. The end of last year was the time for authorities to act, and, as Nicholas D. Kristof of The New York Times has noted, “act decisively they did—not against the virus, but against whistle-blowers who were trying to call attention to the public health threat.”

This is what allowed the virus to spread across the globe. Because the Chinese Communist Party was pretending that there was little to be concerned about, Wuhan was a porous purveyor of the virus. The government only instituted a lockdown in Wuhan on January 23—seven weeks after the virus first appeared. As events in Italy, the United States, Spain, and France have shown, quite a lot can happen in a week, much less seven. By then, mayor Zhou Xianwang admitted that more than 5 million people had already left Wuhan.

If that weren’t enough, we can plumb recent history for an even more damning account. In a 2019 article, Chinese experts warned it was “highly likely that future SARS- or MERS-like coronavirus outbreaks will originate from bats, and there is an increased probability that this will occur in China.” In a 2007 journal article, infectious-disease specialists published a study arguing that “the presence of a large reservoir of SARS-CoV-like viruses in horseshoe bats, together with the culture of eating exotic mammals in southern China, is a time bomb. The possibility of the reemergence of SARS and other novel viruses from animals or laboratories and therefore the need for preparedness should not be ignored.” It was ignored.

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When is China going to admit they screwed up royally?

From ‘Chinese virus’ to ‘Trumpandemic’ (RT)

Washington has passed off blame to Beijing for its own failures in addressing the Covid-19 outbreak, China’s Foreign Ministry said, hitting back at the ‘Chinese virus’ rhetoric with the ironic term ‘Trumpandemic.’ “Some people in the United States attempt to stigmatize China’s fight against the epidemic and shirk its responsibility to China,” Foreign Ministry spokesperson Geng Shuang told reporters on Friday, referring to the finger-pointing adopted by President Trump and other top officials (after weeks of US media outlets calling it the ‘Chinese’ and ‘Wuhan’ virus). “This practice ignores the huge sacrifices made by the Chinese people to safeguard human health and safety, and denigrates China’s major public health security contributions.”

Over the last two months, Beijing has helped the US buy time in its efforts to combat the coronavirus by providing “timely information” and other aid, the spokesman said, noting that the US president himself acknowledged as much during a press briefing last week. But most of that assistance has gone to waste, he lamented. “It is a pity, as many US media and specialists have noted, that the US has wasted the precious time China has bought.” Despite being the only country that has managed to contain the outbreak, China has been accused of suppressing information in the early stages of the Covid-19 outbreak – which began in the city of Wuhan late last year. The spokesman insisted the country has taken “the most comprehensive, strictest and most thorough prevention and control measures,” and has been “open” and “transparent” about the virus.

Geng went on to list the numerous joint meetings between American and Chinese health officials in recent weeks, arguing Beijing was doing its part to assist the US response to the lethal illness, but implored Washington to take responsibility for its own shortcomings. “We hope that the United States will respect objective facts, respect international public opinion, do its own thing… stop slandering other countries, passing on responsibilities, and play a constructive role in fighting the epidemic,” he said. While President Trump argues that the phrase “Chinese virus” is “not racist at all,” stating that he uses the term simply because the pathogen “comes from China,” his insistence on the label has piqued the ire of Beijing. In a string of tweets earlier on Friday, Chinese state media outlet Xinhua slammed the moniker as bigoted, and fired back with its own Trumpian term of derision, renaming the outbreak the “Trumpandemic.”

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After cases exploded. It’s a pattern. New York has a very big problem.

Cuomo Orders New York Lockdown, Shuts Down Non-Essential Businesses (NYP)

Gov. Andrew Cuomo on Friday ordered the Empire State to shut down and asked local businesses and manufactures to step up as officials mounted a desperate struggle to slow the corona≠virus pandemic. “I want to be able to say to the people of New York – I did everything we could do,” Cuomo told reporters at the state Capitol. “And if everything we do saves just one life, I’ll be happy.” The restrictions take effect Sunday night at 8 p.m. and will shut down all nonessential businesses across the state, leaving just grocery stores, pharmacies and other essential operations open. All non-solitary outside activities, like basketball and other team sports are also banned.

The lockdown also requires all nonessential government and private-sector employees to work from home. Cuomo said the MTA will continue to run city subways, buses and Metro-North and Long Island Rail Road trains. The agency announced Friday it will allow backdoor boarding on local buses beginning Monday to help protect bus drivers from exposure “We have to do it, we have to be serious,” Cuomo said. “Everyone has personal freedom, and everyone has personal liberty, and I’ll always protect that,” he added. “But everyone also has a responsibility to everyone else.”

Laundromats and gas stations will be allowed to remain open, as will liquor stores and restaurants for take-out and delivery service only. Doctors’ and veterinarians’ offices can remain open, too. The new emergency action came as the Empire State’s coronavirus case count ballooned. Officials had tallied more than 7,100 cases across the state by 12 a.m. Friday — more than 4,400 in New York City. Just 10 hours later, the city Health Department reported the Big Apple’s case load had surged to more than 5,100 cases.

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Not friends, but working together. These people all recognize their own faults. They’re all 2-3 months late.

New Best Friends: Trump And Archfoes Cuomo And Newsom Bond (JTN) )

It’s often said that crises bring out the worst or the best in people. Adrift in a lifeboat at sea, strangers will either figure out how to cooperate, or kill and eat each other. It may be that the nation’s capital is being enveloped in a cloud of nice — instead of choosing the kill and eat option. President Trump suggested as much yesterday when he looked over a slightly-less-packed-than-usual press room. “I like this social distancing,” he mused. “I think it’s making you guys nicer. All these empty spaces … “You guys over there should probably move further from each other,” he said, flapping his hand at a few reporters, “but it’s nice”

The niceness cloud has also enveloped Trump and a couple of his legendary enemies: California Governor Gavin Newsom, New York Governor Andrew Cuomo, and President Trump have very recently become the Three Caballeros. At every press conference — and all three leaders are doing daily COVID-19 press updates — praise is bestowed and compliments showered. There are gratuitous namechecks — as with the lover who feels compelled just to repeat the name of the beloved — and many allusions to late night phone calls when details of policy are apparently being hashed out. In his press conference yesterday, for instance, as Trump detailed the FDA’s expedited approval of a new virus treatment, he managed to work in the news that he’d spoken with Cuomo “at great, great length last night; he wants to be first in line.”

Considering that he and the governor are now besties, Cuomo will probably in fact be first in line to get the prescription drug to his state’s consumers — just as he’s recently gotten everything on his virus wish list, from a national guard deployment to Westchester County, site of an early hot spot, to a mobile testing drive-through, also for Westchester, to an Army Corps of Engineers deployment, to a Navy hospital ship which will soon be docked in New York Harbor in case New York City runs out of hospital beds.

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Red alert at the DNC: “30% of Democrats approve, which is about double the number from last week’s poll..”

Trump’s Approval Rating Soars During Handling Of Coronavirus (JTN)

New polling Friday showed President Trump’s approval ratings among Americans have soared during the coronavirus crisis, including his handling of the pandemic response and the economy A new Axios-Harris poll, released Friday, showed the president with an 53 percent overall approval among U.S. adults surveyed March 17 and 18, compared to 49 percent among those polled March 14 and 15. 56 percent of respondents in the latest poll said they approved of the president’s handling of the coronavirus outbreak, an increase from 51 percent last week. And 60 percent of Americans this week said they approved of the president’s handling of the economy, a slight increase from 59 percent last week.

Despite stock market declines and rising unemployment figures released this week, the president’s approval rating for “Stimulating Jobs,” remained unchanged at 60 percent among both groups polled. When asked “Which of the following sources do you get your information from regarding the coronavirus (COVID-19) outbreak?” 44 percent of Americans named “The White House/President,” an increase of 11 points from the previous survey. Respondents naming “National media” fell to 53 percent from 55 percent, while those answering “Local media,” dropped to 51 percent from 57 percent. Additionally, a new ABC News/Ipsos poll released Friday found that 55 percent of Americans approve of Trump’s handling of the coronavirus crisis, a double-digit increase in support from the week before.

“In the new poll, 55% of Americans approve of the president’s management of the crisis, compared to 43% who disapprove,” reported ABC’s Kendall Karson. “Trump’s approval on this issue is up from last week, when the numbers were nearly reversed.” The ABC/Ipsos poll also found “30% of Democrats approve, which is about double the number from last week’s poll, and 69% disapprove, down from 86%,” Karson wrote. “Meanwhile, an overwhelming 92% of Republicans approve, up from 86% last week. Only 8% disapprove, compared to 11% in last week’s poll.”

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The Dems of course can’t have Trump ratings rising, but pray tell, how are regular appearances of Biden going to counter that trend?

Biden Plans Shadow Coronavirus Briefings (Pol.)

Joe Biden is planning a regular shadow briefing on coronavirus to start as early as Monday to show how he would handle the crisis and address what he calls the lies and failures of President Trump. Biden gave a preview of what’s to come in a conference call with reporters Friday, where he listed a litany of false and misleading statements from Trump, who has been holding regular White House press conferences concerning coronavirus preparedness and response that have been broadcast live on all major networks. “President Trump stop saying false things, will ya?” Biden said. “People are worried they are really frightened, when these things don’t come through. He just exacerbates their concern. Stop saying false things you think make you sound like a hero and start putting the full weight of the federal government behind finding fast, safe and effective treatments.”

Biden made his comments from his home in Wilmington, Delaware, where he has been holed up for more than a week in adherence with Centers for Disease Control guidelines that urge people to practice social distancing. Immediately after the initial onset of the crisis, Biden also held his fire against the president out of concern it would look too political — an accusation leveled at him anyway by Trump campaign manager Brad Parscale, who said that “Biden will take attention from real updates Americans should know just to score political points.” Ever since his commanding victories Tuesday against Bernie Sanders in Florida, Illinois and Arizona, Biden has made no public appearances or statements. Instead, he said, he has been spending time privately talking to health officials, businesses, governors and members of Congress.

Now, he said, his house is being outfitted with equipment that would enable him to livestream events, have interactive tele-press conferences and broadcast interviews with network television.

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I’m suspicious of any cure or treatment announced, but I’m also curious to see how much coverage the US MSM will give to Cuba potentially saving American lives.

Cuba’s Interferon Alpha 2B, Successful in Treating COVID-19 (TeleSur)

For 40 years, Cuba has been using a molecule named Interferon Alpha 2B , which has successfully been used to combat the new Coonavirus in China and elsewhere. “The world has an opportunity to understand that health is not a commercial asset but a basic right,” Cuban doctor Luis Herrera, the creator of the Interferon Alfa 2-B medication, one of the most successful medications in the fight against COVID-19 told teleSUR Tuesday. Interferon has been known for more than 40 years: first, it was produced from original sources in local sites, then nationally and later in the United States and even Finland. “At the beginning of the 80s, an important professor from Houston came to Cuba and advised our President Fidel Castro than the Interferon we had here was a very interesting molecule for a different purpose,” Herrera told teleSUR.

“Then a group of people went to Finland to get training in the production of interferon,” while people were also producing Interferon from recombined sources using genetic engineering. The first one was Beta Interferon in Japan, and the second one was the family of Alpha Interferon by Genetec in California, according to the Cuban doctor. “One year later in Cuba, we cloned different genes of Interferon from local sites, and we started to produce Interferon in 1981 and 1982, which we used in the outbreak of dengue fever, and we presented the results in the United States in California.” One of the ways the virus can multiply inside the cells is by decreasing the levels of Interferon naturally produced in human cells. The molecule thus, through a different metabolic way, can create conditions to limit the replication of the virus.

During the MERS-CoV epidemic three years ago – another type of coronavirus – people realized that Interferon was decreased during the replication of the virus, highlighted Herrera. In China, practically a few weeks after the beginning of the outbreak, people started to use Interferon in a way to avoid complications in people infected with the virus. According to Herrera, this molecule has “some side effects but not too critical.” “The main idea of Interferon is just to avoid complications,” he told teleSUR. “Young people and people with a good immuno-response perhaps don’t need the medicine or people who won’t have complications and respond to the virus-like any other flu, but old people or people susceptible to have a bad immuno-response will have better chances of avoiding complications by using Interferon.”

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The good doctor can’t keep himself from taking a jab at Trump. Pity. Nothing much else to say that we didn’t already know.

And as the graph shows, the mass testing that for instance South Korea is supposed to have done is not quite what it’s made out to be. 0.6% of the population is not that.

The Doctor Who Helped Defeat Smallpox Explains What’s Coming (Wired)

Larry Brilliant says he doesn’t have a crystal ball. But 14 years ago, Brilliant, the epidemiologist who helped eradicate smallpox, spoke to a TED audience and described what the next pandemic would look like. At the time, it sounded almost too horrible to take seriously. “A billion people would get sick,” he said. “As many as 165 million people would die. There would be a global recession and depression, and the cost to our economy of $1 to $3 trillion would be far worse for everyone than merely 100 million people dying, because so many more people would lose their jobs and their health care benefits, that the consequences are almost unthinkable.”

Now the unthinkable is here, and Brilliant, the Chairman of the board of Ending Pandemics, is sharing expertise with those on the front lines. We are a long way from 100 million deaths due to the novel coronavirus, but it has turned our world upside down. Brilliant is trying not to say “I told you so” too often. But he did tell us so, not only in talks and writings, but as the senior technical advisor for the pandemic horror film Contagion, now a top streaming selection for the homebound. Besides working with the World Health Organization in the effort to end smallpox, Brilliant, who is now 75, has fought flu, polio, and blindness; once led Google’s nonprofit wing, Google.org; co-founded the conferencing system the Well; and has traveled with the Grateful Dead.

[..] When will we be able to leave the house and go back to work? I have a very good retrospect-oscope, but what’s needed right now as a prospecto-scope. If this were a tennis match, I would say advantage virus right now. But there’s really good news from South Korea—they had less than 100 cases today. China had more cases imported than it had from continuous transmission from Wuhan today. The Chinese model will be very hard for us to follow. We’re not going to be locking people up in their apartments, boarding them up. But the South Korea model is one that we could follow. Unfortunately, it requires doing the proportionate number of tests that they did—they did well over a quarter of a million tests. In fact, by the time South Korea had done 200,000 tests, we had probably done less than 1,000.

Now that we’ve missed the opportunity for early testing, is it too late for testing to make a difference? Absolutely not. Tests would make a measurable difference. We should be doing a stochastic process random probability sample of the country to find out where the hell the virus really is. Because we don’t know. Maybe Mississippi is reporting no cases because it’s not looking. How would they know? Zimbabwe reports zero cases because they don’t have testing capability, not because they don’t have the virus. We need something that looks like a home pregnancy test, that you can do at home.

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The neocons are not amused.

Pentagon Sends 2,600 Europe-based Personnel Into Quarantine (RT)

Thousands of US troops and military staff based in Europe have been ordered into self-isolation after at least 35 of them tested positive for Covid-19, further complicating Washington’s power projection across the Atlantic.
Some 2,600 European Command (EUCOM) troops and personnel were isolated on Friday in an effort to stem the spread of the lethal virus, following nearly three dozen positive test results. The Defense Department noted that the troops quarantined were not ill, but were isolated as a precaution due to recent travel, among other reasons. “These individuals are not necessarily sick, but may have been exposed and are doing their due diligence following health preventative measures,” the Pentagon said in a statement.


EUCOM commander, US Air Force General Tod Wolters, told reporters earlier about the positive tests, adding that all 72,000 of his troops were taking measures to avoid further exposure to the illness. “We’re preparing for worst-case scenarios with respect to the potential spread,” Wolters said in a teleconference from EUCOM headquarters in Stuttgart, Germany. “For months, we have embraced precautionary measures.” The Pentagon did not clarify how it planned to isolate the 2,600 personnel, however. The quarantine comes as several branches of the US armed services struggle to contain the coronavirus, especially on board the crowded Navy vessels. The USS ‘Boxer’ became the first ship to confirm more than one infected sailor earlier this week, prompting the crew to adopt what it called an “aggressive mitigation strategy.”

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The CEO delays receiving many millions so the company will receive many billions, which will then be used to pay the CEO additional many millions. File under Business Model.

Boeing Suspends Dividend, Halts Buybacks, Stops Paying CEO And Chairman (Y!)

Boeing says its CEO and its chairman will forgo all pay until the end of the year — and that’s just one of the steps the company is taking to ensure that it weathers the financial effects of the coronavirus epidemic. CEO David Calhoun and Board Chairman Larry Kellner were named to their current positions last December, as part of a corporate house-cleaning related to the past year’s 737 MAX crisis. Calhoun was due to receive a base annual salary of $1.4 million and was eligible for millions more in performance-based payments and stock options. Kellner was getting an annual cash retainer of $250,000 and was eligible for other compensation.


Boeing said it was also suspending its dividend and extending its current pause on stock buybacks until further notice. “Boeing is drawing on all of its resources to sustain operations, support its workforce and customers, and maintain supply chain continuity through the COVID-19 crisis and for the long term,” the company said in a statement. The move came after former U.N. ambassador Nikki Haley said she was resigning from Boeing’s board of directors to protest the company’s request for at least $60 billion in federal support. The company’s shares have plunged from a 52-week high of $398.66 to today’s closing value of $95.01, primarily due to the virus outbreak. This week, President Donald Trump told reporters that “we have to protect Boeing” but also voiced his disdain of stock buybacks.

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What are words worth?

National Guard Chief Denies Rumors Of Martial Law Response To Virus (Solomon)

The National Guard has deployed a few thousand troops to help states hit hard by the coronavirus outbreak, but it wants Americans to know that rumors of impending martial law are blatantly false. One of the Guard’s top generals tweeted out that assurance Friday as officials blamed misinformation and propaganda campaigns for the false rumor. “I hear unfounded rumors about #NationalGuard troops supporting a nationwide quarantine,” wrote Gen. Joseph Lengyel, chief of the National Guard Bureau. “Let me be clear: There has been no such discussion.” From New York to Wisconsin, National Guard troops have been deployed to several states to provide assistance that ranges from sterilizing public areas to delivering needed supplies. Those missions are likely to continue for some time.

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“Sovereign immunity”, no less. Carte blanche for any and all surveillance, on peers, journalists, lawyers? Does that sound okay to anyone at all, other than Schiff?

Schiff Claims ‘Immunity’ To Keep Impeachment Phone Subpoenas Secret (JTN)

The House Intelligence Committee and its chairman Adam Schiff invoked “sovereign immunity” in a motion to dismiss a Judicial Watch lawsuit seeking to obtain controversial phone records subpoenas issued during the Trump impeachment inquiry. The committee’s subpoenas of phone records ultimately led to the publication of multiple Americans’ phone records, including those of reporter John Solomon, California Rep. Devin Nunes, the president’s lawyer Rudy Giuliani and others. In the motion, lawyers from the Office of General Counsel for the House of Representatives assert four reasons for dismissing the case, including protection under the Constitution’s Speech or Debate Clause.

“First, the doctrine of sovereign immunity deprives the Court of jurisdiction over the House Defendants, and no express and unequivocal waiver exists,” the argument says. “Second, given that the records sought by Plaintiff involve matters pursued and obtained by the House Defendants as part of the House-authorized impeachment inquiry, they are absolutely protected by the Speech or Debate Clause.”

“Third, Plaintiff fails to state a claim because Congress has created a comprehensive scheme for the review of government records—the Freedom of Information Act (FOIA)—that preempts the common law right sought to be vindicated by this litigation,” the lawyers write. “Finally, under governing case law, the records Plaintiff seeks to review are not ‘public records’ and, therefore, are not subject to the common law right of public access. And even if the records are ‘public records,’ Plaintiff has not demonstrated that the public interest in disclosure outweighs the House Defendants’ interest in non-disclosure.”

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“His role was not the good father, it was the half-crazy old uncle in the attic..”

Strength and Weakness (Kunstler)

Yes, he is peculiar-looking: the strange blond helmet, the orange face. Note, back in one of America’s earlier hard times, a lot people thought Mr. Lincoln looked like a great ape, and had much sport with that image of him in the newspapers. It’s also a fact that the decisions he made led to the deaths of hundreds of thousands of mostly young men in the bloodiest slaughters then imaginable. Yet those young men going to their deaths called him Father Abraham in their songs around the campfire. I’m not saying that Donald Trump is another Lincoln — certainly not in sheer rhetoric — but I am saying we don’t know yet what his mettle will show in this crisis, and where it might take us. One thing for sure: he’s been subjected to more political abuse than any character on-the-scene in my lifetime, and it’s amazing that he didn’t fold or quit or lose his shit as it went on and on and on.

And so, you now have the strange and ironic spectacle of his organized opposition, the Democrats, hoisting up onto their pinnacle of leadership absolutely the weakest candidate possible to oppose Mr. Trump in the election: Joe Biden. There was something certainly supernatural about his ascent in the recent cluster of primaries, as if some gang of someones worked strenuously behind the scenes to make it happen. If Mr. Biden ever had any charisma even in his prime as a young senator, there was no sign of that now, either in his own bumbling behavior or in the sparse crowds that were flushed out of the DNC’s voter registration thickets to show up at his rallies. In fact, he emanated the exact opposite of charisma, a faltering flop-sweat odor of weakness, and of every kind of weakness: physical, mental, and ethical.

His role was not the good father, it was the half-crazy old uncle in the attic — the kind who puts on his threadbare best suit every day to go down to a corner bar and sip beers until it’s time to stagger back home, where a dutiful niece-in-law might give him supper, if he could manage to ask for it politely. The kind who, until his forced retirement due to incompetence and blundering, had worked as an errand boy for the local mob, picking up receipts from the numbers racket, and was then cast off like a banana peel in a drainage ditch when his usefulness ended.

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CoronaBonds are one way, sure. But if you take the salary pressure away from companies by having the government pay 50-70% of them, would you still need to bailout companies, or would you be only subsidizing zombies?

CoronaBonds To Hold The Payments System Together (Steve Keen)

The coronavirus could cause the financial system to collapse unless something is done to enable basic payments to continue during the fight against it. While some businesses are doing very well out of it—toilet paper and hand sanitizer produces come to mind—many, if not most, could collapse as their sales collapse and/or their workers become unable to turn up to work. Workers—especially those in the jovially-named “gig economy”—will be unable to pay their rents and mortgages. If we insist on these payments being honoured, mass bankruptcy could result that could take viable companies down with it—even toilet roll producers. So what to do? The answer is fundamentally simple: the Treasury issues “Coronabonds” that raise a substantial sum—enough to cover say 3 months of standard mortgage, rent and food payments for an average family.


These Coronabonds could be priced at zero percent yield: interest rates are at that level anyway, and given the current stockmarket carnage, financial corporations would jump at the opportunity to park their money in an asset that won’t fall in value. Using the US Economy as our template, let’s say that $1 trillion of these bonds were issued. They would then be bought by the financial sector—raising $1 trillion to be spend by the government on tenants, mortgagees and firms. The cost to the Treasury would be zero because that would be the yield of the bonds. The public debt would rise, but it would be debt carrying no servicing costs.

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Good friend Steve Keen “escaped” to Thailand.

Personal Coronavirus Update 02 March 21st 2019 (Steve Keen)

As I noted in my first update, I had decided that for both medical and visa reasons, the best place to be during the Coronavirus crisis was Thailand. Outside of China (the epicentre of this crisis), the world’s governments have been dominated by the Neoliberal emphasis upon efficiency, with a total ignorance of the need for resilience as well in a complex system. I didn’t expect any of them to be able to respond effectively as this exponential crisis exploded, so the safest thing was to go for the highest level of social isolation possible—and southern Thailand, below the major tourist spots, made sense on that ground alone. There was also nascent research implying that heat and humidity slow the spread of the virus. This is from the abstract for the paper: “One degree Celsius increase in temperature and one percent increase in relative humidity lower R by 0.0383 and 0.0224, respectively.”

I had already started to make this inference from the statistics from the John Hopkins University site. Thailand began with the second highest number of cases to China, but the number of cases rose far more slowly than in the rest of the world. On January 31st, Thailand had 19 cases, while Australia had 9, the Netherlands zero, and the UK 2. The Netherlands recorded its first cases on February 27th, finishing the day with 2 cases; by this stage, Australia had 23 cases, the UK 15 and Thailand was still far higher at 40 cases. However, as of March 19th, Australia had about 700 cases, The Netherlands and the UK about 2500 each, and Thailand had under 250. This time series plot from my soon-to-be-released program Ravel illustrates the divergence of Thai data from the rest of the world—or rather the three other countries where I could have considered living

during this crisis.

[..] My partner and I arrived in Bangkok on Thursday March 19th, one day before Thailand started closing its border to non-nationals (my partner is a Thai citizen, though she hasn’t lived here for over 25 years). One day later, and I would have had to continue on my own to Australia, which is mishandling this crisis as impressively as any other Western government. Even Thai tourists are thin on the ground now, as Thailand has wisely cancelled its annual Thai New Year holiday and festival. We went to a popular beach yesterday looking for potential places to stay for a year, and it was almost empty. We’re now looking for a house to rent here, for the year that I think it will take before there’s any prospect of a post-Covid-19 “normal” developing.

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