Aug 252020
 


Robert Capa Model wearing Dior on the banks of the Seine, Paris 1948

 

Pelosi Calls Republicans ‘Domestic Enemies Of The State’ (ZH)
UK Lockdown Was A ‘Monumental Mistake’ And Must Not Happen Again (Exp.)
Let’s Follow the History of Science Instead (AIER)
New York University To Implement Racial Segregation In Student Dorms (WSWS)
Is The Euro Living On Borrowed Time? (Brown)
Powell Set To Deliver Speech Changing How The Fed Views Inflation (CNBC)
Exxon Mobil Dropped From The Dow After Nearly A Century (CBS)
1 In 3 Cars Worldwide Is Produced In China (ZH)
Greece, Turkey Heading For New Crisis (K.)
Biblical Travails (Jim Kunstler)
UN World Food Program Seeks To Prevent ‘Famine Of Biblical Proportions’ (ZH)

 

 

Calling your political opponents “enemies of the state” is not done even in 2020 America.

 

 

 

 

 

 

 

 

 

 

 

 

Way over the line. There are still things you can’t say even in the 2020 US.

And you thought Biden was dementing…

Nancy, you’re 80. Call it a day.

Pelosi Calls Republicans ‘Domestic Enemies Of The State’ (ZH)

House Speaker Nancy Pelosi (D-CA) raged against President Trump and Congressional Republicans on Monday, telling MSNBC that they’re “domestic enemies” of election integrity and “enemies of the state.” Pelosi was speaking right after President Trump’s speech at the Republican National Convention, according to the Daily Caller. “We take an oath to protect and defend the Constitution from all enemies, foreign and domestic. And sadly, the domestic enemies to our voting system and honoring our Constitution are right at 1600 Pennsylvania Avenue with their allies in the Congress of the United States. But again, let’s just get out there and mobilize, organize, and not let the President deter anybody from voting. And again, support the postal system which is election central,” said the 80-year-old Democrat. “They’re doing everything they can; suppress the vote — with your actions, scare people, intimidate by saying law enforcement will be there, diminish the role of the postal system in all of this. It’s really actually shameful. Enemies of the state,” she continued.

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Perhaps this guy means well, but to conclude from the UK’s botched version of a lockdown that NO lockdown can work, takes away all his credibility. Phrasing matters.

And besides, buddy, you’re the government advisor here. Own it.

UK Lockdown Was A ‘Monumental Mistake’ And Must Not Happen Again (Exp.)

Lockdown will come to be seen as a “monumental mistake on a global scale” and must never happen again, a scientist who advises the Government on infectious diseases says.Mark Woolhouse said lockdown was a “panic measure” but admitted it was the only option at the time because “we couldn’t think of anything better to do”. But it is a crude measure that takes no accounts of the risk levels to different individuals, the University of Edinburgh professor said, meaning that back in March the nation was “concentrating on schools when we should have been concentrating on care homes”. The professor of infectious disease epidemiology said that the Government must now focus on increasing testing and striving to unlock society safely rather than restricting it further.

Prof Woolhouse OBE, a member of the Scientific Pandemic Influenza Group on Behaviours that advises the Government, said: “Lockdown was a panic measure and I believe history will say trying to control Covid-19 through lockdown was a monumental mistake on a global scale, the cure was worse than the disease. “I never want to see national lockdown again. It was always a temporary measure that simply delayed the stage of the epidemic we see now. It was never going to change anything fundamentally, however low we drove down the number of cases, and now we know more about the virus and how to track it we should not be in this position again.

“We absolutely should never return to a position where children cannot play or go to school. “I believe the harm lockdown is doing to our education, health care access, and broader aspects of our economy and society will turn out to be at least as great as the harm done by Covid-19.” He said that Sage, the government’s advisory board on dealing with Covid, needed to have members from a wider range of fields.

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And here’s another genius: “..our descendants will mock us for believing masks slowed viral transmission.”

No they won’t, unless they’re as stupid as he is. Lockdowns and facemasks prevent transmission, no science is more basic than that. But you do have to use them wisely.

If you send people out into the street with mandatory masks on, then yes, they don’t prevent anything. Because there is no risk of infection there. But put them in a cramped room for a period of time, and they are very effective.

What is it with these people, is it all just about hearing their own voices, credibility be damned? Some virus got to their brains?

I’m seriously starting to wonder where the virus causes the most damage. And it doesn’t appear to be either in care homes or classrooms, but in much smaller spaces.

Let’s Follow the History of Science Instead (AIER)

Democratic Presidential hopeful Joe Biden is only the most high-profile politician to promise voters that he will “listen to the scientists,” mandate masks, and shut down the economy again if they so advise. Even the humble members of the city council of Milledgeville, Georgia invoke “science” in four pages of “whereas-es” designed to justify a largely toothless mask mandate that directly contradicts a Georgia law against wearing masks in public (except for certain holidays, presumably to deter real crime) and the enforcement of which in some places in the city of 50,000 apparently hinges on the font size of a door notice. Strange times indeed, these. One wonders why we need to elect politicians at all if they will simply defer to “the” scientists. Ah, but there be the rub. Which scientists? They don’t agree on much, especially when it comes to the novel coronavirus and masks and such.


Should we listen only to “the” scientists on the government payroll? But then wouldn’t they essentially be unelected, unaccountable dictators? That sounds vaguely undemocratic. Sticky, this wicket! Plus, last time I checked, “the” scientists have no policy expertise in economics. Perhaps that does not matter as many economists also have no policy expertise in economics. Is that the role of politicians, then? To decide which type of scientists get to dictate in different policy areas? Perhaps Biden will listen to “the” economists on spaceship design or military tactics? I would pay good money to see that! (Seriously, it would be a horribly expensive boondoggle certain to raise my taxes.) Why is it so important to “listen to the scientists” anyway? Are they suddenly less fallible than previously? Is there any science to support that belief? Because let’s face it, “the” scientists have a pretty poor track record overall.

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I’m afraid I simply don’t understand the reasoning. Black students don’t want to explain about racism? But isn’t that sort of the whole point?

New York University To Implement Racial Segregation In Student Dorms (WSWS)

Since late June, the Office of Residential Life and Housing Services at New York University (NYU) has been working closely with a small, student-led task force to make racially segregated housing a reality in undergraduate student dorms. On July 20, Washington Square News, the weekly undergraduate student newspaper of NYU, published an article titled “Student-Led Task Force Calls for Black Housing on Campus,” in which it reported on the university’s willingness to help implement residential communities open solely to “Black-identifying students with Black Resident Assistants.” Since then, the university has officially given the project a green light, aiming to have NYU’s first segregated residential floor established by Fall 2021.

A little over two months ago, a recently organized advocacy group called Black Violets created an online petition demanding that the university “implement Black student housing on campus in the vein of themed engagement floors across first-year and upperclassmen residence halls.” In its petition, the group argues that “Too often in the classroom and in residential life, black students bear the brunt of educating their uninformed peers about racism.” African American students, the group states, desperately require a “safe space” where they can escape from students, staff and faculty of other races. There are over 20 Themed Engagement Communities at NYU, with themes ranging from film, literature and theater to technology, science and foreign languages. All floors are open to all students, who request residency on a specific floor prior to the start of the academic year.

The approval of a Themed Engagement Community open to students based on their race is new at NYU. However, it is not the first time that the Office of Residential Life and Housing Services has considered such a proposal. In 2002, an NYU senior submitted a plan to develop race-based housing for African American students, claiming that “such a housing program would unite African American students on campus” and better combat racial discrimination. This proposal was eventually rejected by the university after a brief review and discussion.

Now, despite signs of minimal support from the undergraduate student body—the online petition has garnered a mere 1,105 signatures out of the 26,733 total undergraduates currently studying at NYU—the proposal for race-based housing has been warmly welcomed by the university administration. There is nothing progressive about the establishment of racially segregated housing at NYU. It is irrelevant whether the segregation being implemented is voluntary or mandatory. Racial segregation, in all forms, is entirely reactionary. The vile argument advanced in the proposal is that all non-African American students, staff and faculty are, to varying degrees, hostile and dangerous to African American students. Their animosity stems from an inherent antipathy towards individuals of different races.

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“Investors” gamble on gold, they gamble on the euro. And they feel confident they’ll be able to get out on time. Basic, really. Pump trillions into “markets” and this is what happens.

Is The Euro Living On Borrowed Time? (Brown)

Given the way the euro has been rallying in the foreign exchange markets over the past three months, you would be forgiven for thinking the currency has become a beacon of stability in uncertain times. You couldn’t be further from the truth. The rebound in the euro is simply the flip side of the US dollar being undermined by growing uncertainty about the upcoming US presidential election in November and how the US authorities are coping with the coronavirus crisis. Global investors are simply taking time out from long dollar exposures, and euro bulls are simply filling a temporary void. It won’t last long. The euro is living on borrowed time and the deepening monetary muddle in Europe won’t help the currency once the dust settles on the US elections.

The euro looks overvalued and a prime target for an ambush later this year. Europe’s monetary pacesetter, the European Central Bank, seems to be fighting a losing battle, struggling to keep the European economy from slipping into a deeper recession. The more policy stimulus the ECB throws into the ring, the greater the damage to its monetary reputation, and to little avail so far. Despite close to 3 trillion euros of assets purchased so far under the ECB’s quantitative easing programme and interest rates steeped in negative territory, the economy of Europe is showing precious few signs of a return to normality. Europe’s three biggest economies, Germany, France and Italy, are all stuck in recession with little chance of output reaching pre-pandemic levels until 2022. Rumblings about throwing too much good money after bad are no surprise. The ECB’s defence is that it has no alternative, otherwise Europe might suffer an even worse fate.

Germany has given up the ghost on trying to control the ECB’s monetary excesses. There seems to be a palpable sense of “if you can’t beat them, join them” for the sake of presenting a united front and avoiding a damaging public row. In the pre-euro days, tough Bundesbank policies and the strong Deutschmark were solid anchors of the European monetary system, implacable yardsticks which helped other European countries govern their own performances. [..] The worry for markets is that the triple-A-rated ECB’s vaults are bursting with a surfeit of lower-quality debt from nations like Italy, Spain, Portugal, Greece and Ireland, countries which have required support in times of market stress in the aftermath of the 2008 crash. Like in the US subprime crisis, it’s fine while the charade lasts, but once confidence begins to wobble, that is where the danger lies.

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The Fed is going to try its hand at Abanomics?! Didn’t work for Japan. Remember, to raise inflation you need to raise the velocity of money. Which today meanns you have to raise the velocity of trillions of added dollars. Good luck with that.

Powell Set To Deliver Speech Changing How The Fed Views Inflation (CNBC)

History will remember Paul Volcker and Jerome Powell as standing on the opposite ends of the inflation canyon, with the former taking desperate actions to try to tamp it down and the latter expected this week to announce an unprecedented effort to crank it back up. Volcker, the Federal Reserve chairman from 1979-87, ushered through a series of inflation-busting interest rate hikes that dragged the country into recession but won the fight against pricing pressures and spurred a powerful economic recovery. Powell, the central bank chief since 2018, is likely to detail a set of measures aimed at pushing inflation higher amid a coronavirus pandemic that has dragged the U.S. economy into one of its darkest hours.

While the average consumer might find it absurd to want to raise the cost of living, central bankers and economists see too little inflation also as a problem. It often reflects a slow-moving economy with a low standard of living. On top of that, the accompanying low interest rates give policymakers little wiggle room when crises happen and there’s a need to loosen policy. That’s why Powell, who will speak Thursday during a virtual version of the Fed’s annual Jackson Hole, Wyoming, conference, will outline what could be the central bank’s most active efforts ever to spur inflation back to a healthy level. The speech is titled “Monetary Policy Framework Review” and wraps up a yearlong examination both among central bank officials and with the public, during a series of open events, on what policy should look like in the future.

“The expectations are pretty high to get something meaningful on Thursday,” said Tom Graff, head of fixed income at Brown Advisory. “This is probably a historic speech.” One phrase Powell is likely to use is “average inflation” targeting. Simply, it means that the Fed, which has pegged 2% as a healthy level, will let inflation run higher than that for a while if it has spent a considerable time beneath that level. The Fed’s preferred inflation gauge has stayed below that level for all but two years since the Great Recession ended in mid-2009. It’s a mirror-image reversal of Volcker’s inflation-busting and sets the stage for a pivotal policy move.

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“In the 1980s, energy companies made up as much as a quarter of the Dow. After Exxon’s exits on Monday, energy will account for just 2% of the index.”

Exxon Mobil Dropped From The Dow After Nearly A Century (CBS)

Exxon Mobil, which joined the Dow Jones Industrial Average in 1928, is being removed from the blue-chip stock market index. Its replacement: enterprise software company Salesforce.com. Also leaving the index are drug company Pfizer and airplane and defense contractor Raytheon Technologies. They are being replaced by biotech Amgen and manufacturing conglomerate Honeywell. S&P Dow Jones Indices, the company that administers the index, announced the changes, which will take place August 31, on Monday. The index provider said the changes were necessary to make up for Apple’s impending stock split, which becomes effective the same day.

The Dow Jones is a stock-price-weighed index. Apple’s stock split, which will take the company’s shares to roughly $120, from $500, would have cut the Dow’s exposure to the technology sector. Monday’s changes would also help the Dow “add new types of businesses that better reflect the American economy,” the index company said. Energy giant Exxon Mobil joined the Dow 92 years ago as Standard Oil of New Jersey, and it’s the oldest member of the index. The Dow’s last original member, General Electric, was removed in 2018. Exxon Mobil was the most valuable company in the United States for much of the early 2000s and as recently as 2011, when it hit a market value of just over $400 billion. Apple overtook Exxon in 2012, and much of the technology sector followed.

Earlier this month, Apple’s market value topped $2 trillion, making it the first U.S. company to reach that milestone. Meanwhile, Exxon’s market value has sunk to $175 billion. The company has been plagued in part by claims that it deliberately concealed the damage that the oil it has long extracted and refined into gasoline was doing to the planet. [..] In the 1980s, energy companies made up as much as a quarter of the Dow. After Exxon’s exits on Monday, energy will account for just 2% of the index.

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A loss of 40% in 5 years. Wow.

1 In 3 Cars Worldwide Is Produced In China (ZH)

Almost one in three – or 32 percent – of all cars produced worldwide in 2019 came out of China. As shown in numbers by the automobile manufacturers’ association OICA, the world manufactures less cars than it did in 2014, but, as Statista’s Katharina Buchholz notes, several Asian markets actually were able to grow their production volumes. India exhibited one of the biggest increases – almost 15 percent in five years to 3.6 million cars annually.


The biggest decrease in production hit the ailing U.S. car industry, which lost 40 percent of its domestic production between 2014 and 2019. Germany also make less cars at home, but German manufacturers like Volkswagen are a part of the rising Chinese production. In 2019, the Chinese market accounted for around 39 percent of Volkswagen’s total sales. Shifting production sites are only one aspect of the internationalization of the car industry. Know-how also migrates with production [..]

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Erdogan has ever less to lose. His popularity at home is decreasing fast, with the lira in the gutter. Greece’s friends better start raising their voices.

Greece, Turkey Heading For New Crisis (K.)

Just when it seemed that Greece and Turkey were entering a phase of de-escalation, the two countries appeared on Monday to be heading for another crisis in the Eastern Mediterranean. The decision by Ankara for an extension of the duration of exploratory activities by the Oruc Reis survey vessel in areas within the Greek continental shelf prompted a response by Athens with Tuesday’s aeronautical exercise that begins on Tuesday at dawn over a large area from the south of Kassos to the south of Kastellorizo. The exercise will take place in areas included in the navigational advisory, or Navtex, issued by Turkey for the Oruc Reis within the Greek continental shelf. The exercise will last until Thursday night.

Turkey’s move to extend the activities of the Oruc Reis essentially raises obstacles to the German mediation effort which continues on Tuesday with visits to both Athens and Ankara by German Foreign Minister Heiko Maas. Meanwhile, tensions were further augmented on Monday night by Turkish President Recep Tayyip Erdogan, who issued direct war threats against Greece, which he said is being “deceived” by other countries into pursuing the course of action it is taking. “When an issue arises in the future, then these forces will disappear and Greece will be left alone,” he said, adding that “from now on, Greece will be responsible for all conflicts in the region and it will be at a disadvantage.” He also described the aeronautical exercise announced by Athens as “useless” and dangerous for navigation.

Shortly before Erdogan’s remarks, Ankara announced new exercises off southern Crete for Tuesday morning, in an area several miles south of the prefecture of Lassithi. The area is located approximately on the borders described in the Turkey-Libya maritime borders memorandum. At the same time, Athens is building a network of important military collaborations, as joint exercises are also expected with French Rafale jets based in Cyprus.

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Conflicting stories about the violence. Kenosha was a hellhole again last night. At some point, Trump will have to act. And that’s what the Dems are hoping for.

Biblical Travails (Jim Kunstler)

Could the country even stand another full-on political convention after the Democrats’ nauseating extravaganza last week? The nation is so marinated in agitprop, disinfo, and straight-up mendacity that all the intelligence has been leached out of population, perhaps even the will to live. A Republican convention complete with the usual showboating might deplete the remaining oxycontin supply across the land as unemployed millions, mulling over rents overdue and unmet car payments, resort to vodka, Xanax, cough syrup, and airplane glue to quell the pain induced by unbridled political bullshit. As BLM might put it: “Know whum sayin’?

Speaking of BLM, Sunday one Jacob Blake, 29, was apparently shot in the back by police in Kenosha, Wisconsin, while getting into a car. The incident inspired a night of BLM rioting and looting in downtown Kenosha, with excellent prospects for violence to spread to other cities. Mr. Blake was hospitalized and survives, so far. He was not complying with police instructions in the process of his arrest. He had been previously arrested in 2015 and charged with brandishing a gun in a barroom. Upon his arrest then, the gun was found on the floor of his car. In the latest incident, Kenosha police were responding to a domestic abuse complaint. There was an active warrant out on Mr. Blake.

Also over the weekend, police in Lafayette, Louisiana, shot and killed 31-year-old Trayford Pellerin outside a convenience store he was entering while brandishing a knife. They had followed him from another convenience store in the vicinity where he “created a disturbance with a knife.” Mr. Pellerin apparently refused to comply with police orders to get on the ground. Ben Crump, a civil rights lawyer hired to represent the Pellerin family during the investigation into the shooting, said, “His family believes that he was suffering a mental illness crisis and what he needed was a helping hand. But what he got was what looks like 11 bullets.” His mother told the Associated Press that Mr. Pellerin had sought therapy for social anxiety.

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A line used so much people have become immune to it.

UN World Food Program Seeks To Prevent ‘Famine Of Biblical Proportions’ (ZH)

While virus cases and deaths dominate headlines, other humanitarian crises also need attention, that is, an emerging “famine of biblical proportions” that threatens much of the world, United Nations World Food Program (WFP) Director David Beasley told TASS News last weekend in an interview. Beasley said the WFP is requesting $5 billion in emergency funds within the next six months that will help in the effort to thwart a global famine. “All the data we have, including WFP’s forecast of an 80% increase in the number of food-insecure people – from 140 million before the pandemic to 270 million by the end of this year – points to a real catastrophe, a famine of biblical proportions, “he said.

The dramatic rise in the number of people who don’t have the means to feed themselves because of depressionary unemployment, supply chain breakdowns, and crop failures is set to cause long-term economic damage that could prevent a vibrant economic recovery. Beasley said, “it is clear that social tensions will escalate, migration will increase, conflicts will expand, and hunger can affect those who have not experienced it before.” Even in the US, a developed world economy, tens of millions of folks have gone hungry, now relying on government aid and food banks for survival. He noted that countries in the 2008 financial crash with a “stronger social protection system” were less impacted by famine.

WFP projections show significant increases in malnourished people in Latin America, countries in Eastern and Central Asia, and Sub-Saharan Africa, had a doubling of the number of people going hungry in a short period. “World hunger is already sky-high, and if we do not act immediately, many will die, children will suffer the consequences of malnutrition for many years to come, and the whole world will be thrown back, having lost all the gains in the fight against hunger of the last decade. Will be incredibly high, we need to act quickly and wisely, balancing immediate relief and long-term recovery,” Beasley said. He added: “WFP’s mission is to provide food to 138 million people in 2020, the largest humanitarian operation in history. And this unprecedented crisis requires an incredible amount of money.”

Read more …

 

 

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Aug 032020
 


W. Eugene Smith Orson Welles 1941

 

Supporters Urge Joe Biden Not to Debate Trump (NW)
Kansas Should Go F— Itself (Matt Taibbi)
How Congress Maintains Endless War (Zuesse)
White House Says Not Optimistic On Near-Term Deal For COVID Relief Bill (R.)
The Fed Is Planning To Send Money Directly To Americans In Next Crisis (ZH)
Fed’s Kashkari Suggests 4-6 Week Shutdown (R.)
Tech Stock Buybacks Are Surging (ZH)
America’s Monopoly Problem Goes Way Beyond the Tech Giants (Dayen)
White House Puts Chinese Apps On Notice (SCMP)
Humanity Likely Faces Rapid ‘Catastrophic Collapse’ – Study (NYP)
How The Guardian and New York Times ‘Set Up’ Julian Assange (M.)

 

 

Every single thing about the US will from now on in evolve around party politics. But not in any way that you’ve ever seen.

 

 

Sunday numbers were quite low. But not every state and country reports anymore in the weekend.

 

 

 

 

 

 

 

 

 

 

 

 

Ben Hunt Sweden

 

 

They would like that, but debates are a solid tradition. So they’ll try for just the one debate, they’ll try for a format that includes a teleprompter, they’ll try for factcheckers that can interrupt Trump all the time in the same way the House did with Bill Barr.

This piece even implies that Trump beat Hillary only because he was telling lies all the time.

Supporters Urge Joe Biden Not to Debate Trump (NW)

Democratic strategists and supporters of Vice President Joe Biden are urging him not to debate President Donald Trump in the lead-up to Election Day, citing Trump’s publicity stunts and disregard for the rules in 2016. Meanwhile Biden backers, including some conservatives, applauded the University of Notre Dame and the University of Michigan for cancelling their scheduled debates over COVID-19 concerns. Former White House Press Secretary Joe Lockhart joined several Democratic Party strategists in bluntly advising Biden, “whatever you do, don’t debate Trump.” Speaking on CNN Saturday, Lockhart said Trump shouldn’t be given another platform which will enable him to “repeat lies,” which he said occurred in the 2016 debates against Hillary Clinton.

The Trump campaign has pushed the other way and urged the nonpartisan Commission on Presidential Debates, which officially oversees the events, to hold even more debates. “We saw in the debates in 2016 Hillary Clinton showed a mastery of the issues, every point she made was more honest and bested Trump,” Lockhart told CNN. “But Trump came out of the debates doing better I think because he just kept repeating the same old lies: ‘we’re going to build a wall and Mexico is going to pay for it,’ ‘we’re going to keep all those Mexican rapists out of the country,’ and ‘we’re going to make great trade deals’ — none of these things have come to pass.” “Giving him that national forum to continue to spout — get him to 21,000 or 22,000 lies — I think just isn’t worth it for the Democrats or for Biden,” Lockhart continued.

Several opinion columns published in recent months have called for an outright cancellation of the debates, describing them — alongside the party conventions — as outdated political rituals designed purely for TV ratings. Longtime Democratic strategist and former Hillary Clinton senior adviser Zac Petkanas agreed with calls for Biden to back out of any and all debates with Trump in the coming months. As it stands currently, there are three presidential debates and one vice presidential debate scheduled between September 29 and October 22. “Biden shouldn’t feel obligated to throw Trump a lifeline by granting him any debates at all. This is not a normal presidential election and Trump is not a legitimate candidate,” Petkanas tweeted last week, expressing his “opinion that no one asked for.”

Mussolini

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“The difference today is that enlightened liberals are the ones mouthing this age-old anti-populist catechism.”

Thomas Frank published What’s the Matter with Kansas? in 2004. His new book is The People, No: A Brief History of Anti-Populism.

Kansas Should Go F— Itself (Matt Taibbi)

The new conception of populism, as popularized by historians like Richard Hofstadter, pitted the common run of voters against a growing class of elite-educated managerial professionals, philosopher-kings who set correct policy for the ignorant masses. The model of enlightened government for this new “technocratic” class of “consensus thinkers” was John Kennedy’s “Camelot” cabinet of Experts in Shirtsleeves, with Robert McNamara’s corporatized Pentagon their Shining Bureaucracy on a Hill. This vision of ideal democracy has dominated mainstream press discourse for almost seventy years.

Since the establishment of this template, Frank notes, “virtually everyone who writes on the subject agrees that populism is ‘anti-pluralist,’ by which they mean that it is racist or sexist or discriminatory in some way… Populism’s hatred for ‘the elite,’ meanwhile, is thought to be merely a fig leaf for this ugly intolerance.” Trump and Bernie Sanders both got hit with every cliché described in Frank’s book. Both were depicted as xenophobic, bigoted, emotion-laden, resistant to modernity, susceptible to foreign influence, and captured by “unrealistic” ideas they lacked the expertise to implement. At the conclusion of The People, No, Frank sums up the book’s obvious subtext, seeming almost to apologize for its implications:

“My point here is not to suggest that Trump is a “very stable genius,” as he likes to say, or that he led a genuine populist insurgency; in my opinion, he isn’t and he didn’t. What I mean to show is that the message of anti-populism is the same as ever: the lower orders, it insists, are driven by irrationality, bigotry, authoritarianism, and hate; democracy is a problem because it gives such people a voice. The difference today is that enlightened liberals are the ones mouthing this age-old anti-populist catechism.”

[..] The book’s concept also reflects the Sovietish reality of post-Trump media, which is now dotted with so many perilous taboos that it sometimes seems there’s no way to get audiences to see certain truths except indirectly, or via metaphor. The average blue-state media consumer by 2020 has ingested so much propaganda about Trump (and Sanders, for that matter) that he or she will be almost immune to the damning narratives in this book. Protesting, “But Trump is a racist,” they won’t see the real point – that these furious propaganda campaigns that have been repeated almost word for word dating back to the 1890s are aimed at voters, not politicians.

In the eighties and nineties, TV producers and newspaper editors established the ironclad rule of never showing audiences pictures of urban poverty, unless it was being chased by cops. In the 2010s the press began to cartoonize the “white working class” in a distantly similar way. This began before Trump. As Bernie Sanders told Rolling Stone after the 2016 election, when the small-town American saw himself or herself on TV, it was always “a caricature. Some idiot. Or maybe some criminal, some white working-class guy who has just stabbed three people.”

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But there’s still only one war party, which sits its fat ass across the aisles.

“Glenn Greenwald gave an hour-long lecture on how America’s billionaires control the U.S. Government..”

How Congress Maintains Endless War (Zuesse)

The Intercept, 9 July 2020 – 2:45: There is “this huge cleavage between how members of Congress present themselves, their imagery and rhetoric and branding, what they present to the voters, on the one hand, and the reality of what they do in the bowels of Congress and the underbelly of Congressional proceedings, on the other. Most of the constituents back in their home districts have no idea what it is that the people they’ve voted for have been doing, and this gap between belief and reality is enormous.” Four crucial military-budget amendments were debated in the House just now, as follows: • to block Trump from withdrawing troops from Afghanistan. • to block Trump from withdrawing 10,000 troops from Germany • to limit U.S. assistance to the Sauds’ bombing of Yemen • to require Trump to explain why he wants to withdraw from the Intermediate Nuclear Forces Treaty

On all four issues, the pro-imperialist position prevailed in nearly unanimous votes — overwhelming in both Parties. Dick Cheney’s daughter, Republican Liz Cheney, dominated the debates, though the House of Representatives is now led by Democrats, not Republicans. Greenwald (citing other investigators) documents that the U.S. news-media are in the business of deceiving the voters to believe that there are fundamental differences between the Parties. “The extent to which they clash is wildly exaggerated” by the press (in order to pump up the percentages of Americans who vote, so as to maintain, both domestically and internationally, the lie that America is a democracy — actually represents the interests of the voters).

16:00: The Chairman of the House Armed Services Committee — which writes the nearly $750B annual Pentagon budget — is the veteran (23 years) House Democrat Adam Smith of Boeing’s Washington State. “The majority of his district are people of color.” He’s “clearly a pro-war hawk” a consistent neoconservative, voted to invade Iraq and all the rest. “This is whom Nancy Pelosi and House Democrats have chosen to head the House Armed Services Committee — someone with this record.” He is “the single most influential member of Congress when it comes to shaping military spending.” He was primaried by a progressive Democrat, and the “defense industry opened up their coffers” and enabled Adam Smith to defeat the challenger.

That’s the opening. Greenwald went on, after that, to discuss other key appointees by Nancy Pelosi who are almost as important as Adam Smith is, in shaping the Government’s military budget. They’re all corrupt. And then he went, at further length, to describe the methods of deceiving the voters, such as how these very same Democrats who are actually agents of the billionaires who own the ‘defense’ contractors and the ‘news’ media etc., campaign for Democrats’ votes by emphasizing how evil the Republican Party is on the issues that Democratic Party voters care far more about than they do about America’s destructions of Iraq and Syria and Libya and Honduras and Ukraine, and imposing crushing economic blockades (sanctions) against the residents in Iran, Venezuela and many other lands.

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We saw this coming from miles away: no better opportunity for both sides to blame the other. Screw the people, it’s about power.

White House Says Not Optimistic On Near-Term Deal For COVID Relief Bill (R.)

White House Chief of Staff Mark Meadows said on Sunday he was not optimistic on reaching agreement soon on a deal for the next round of legislation to provide relief to Americans hit hard by the coronavirus pandemic. “I’m not optimistic that there will be a solution in the very near term,” Meadows said on CBS’ “Face the Nation” as staff members from both sides were meeting to try to iron out differences over the bill. Democrats were standing in the way of a separate agreement to extend some federal unemployment benefits in the short-term while negotiations continue on an overall relief package, he said. “We continue to see really a stonewalling of any piecemeal type of legislation that happens on Capitol Hill,” Meadows said. “Hopefully that will change in the coming days.”


Lawmakers and the White House have been unable to reach an accord for a next round of economic relief from a pandemic that has killed more than 150,000 Americans and triggered the sharpest economic collapse since the Great Depression. Both sides said on Saturday they had their most positive talks yet. But there was no sign of movement on the biggest sticking point – $600 per week in extra federal unemployment benefits for Americans that has been a lifeline for millions of jobless Americans and expired on Friday. Asked about efforts to renew the expired emergency federal jobless benefits, Pelosi said, referring to Trump: “He’s the one standing in the way of that.”

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Because we badly need central bakers to interfere in politics. How far away are we from MMT here?

The Fed Is Planning To Send Money Directly To Americans In Next Crisis (ZH)

Over the past decade, the one common theme despite the political upheaval and growing social and geopolitical instability, was that the market would keep marching higher and the Fed would continue injecting liquidity into the system. The second common theme is that despite sparking unprecedented asset price inflation, price as measured across the broader economy (at least using the flawed CPI metric) would remain subdued (as a reminder, the Fed is desperate to ignite broad inflation as that is the only way the countless trillions of excess debt can be eliminated and yet it has so far failed to do so).

The Fed’s failure to reach its inflation target has sparked broad criticism from the economic establishment, even though as we showed in June, deflation is now a direct function of the Fed’s unconventional monetary policies as the lower yields slide, the lower the propensity to spend. In other words, the harder the Fed fights to stimulate inflation, the more deflation and more saving it spurs as a result (incidentally this is not the first time this “discovery” was made, in December we wrote “One Bank Makes A Stunning Discovery – The Fed’s Rate Cuts Are Now Deflationary”). In short, ever since the Fed launched QE and NIRP, it has been making the situation it has been trying to “fix” even worse, all the while blowing a massive asset price bubble.


And having recently accepted that its preferred stimulus pathway has failed to boost the broader economy, the blame has fallen on how monetary policy is intermediated, specifically the way the Fed creates excess reserves which end up at commercial banks instead of “tricking down” all the way to the consumer level. To be in the aftermath of the covid pandemic shutdowns the Fed has tried to short-circuit this process, and in conjunction with the Treasury it has launched “helicopter money” which has resulted in a direct transfer of funds to US corporations via PPP loans, as well as to end consumers via the emergency $600 weekly unemployment benefits which however are set to expire unless renewed by Congress as explained last week, as Democrats and Republicans feud over which fiscal stimulus will be implemented next.

And yet, the lament is that even as the economy was desperately in need of a massive liquidity tsunami, the funds created by the Fed and Treasury (now that the US operates under a quasi-MMT regime) did not make their way to those who need them the most: end consumers. Which is why we read with great interest a Bloomberg interview published on Saturday with two former central bank officials: Simon Potter, who led the Federal Reserve Bank of New York’s markets group i.e., he was the head of the Fed’s Plunge Protection Team for years, and Julia Coronado, who spent eight years as an economist for the Fed’s Board of Governors, who are among the innovators brainstorming solutions to what has emerged as the most crucial and difficult problem facing the Fed: get money swiftly to people who need it most in a crisis.


The response was striking: they two propose creating a monetary tool that they call recession insurance bonds, which draw on some of the advances in digital payments, which will be wired instantly to Americans. As Coronado explains the details, Congress would grant the Federal Reserve an additional tool for providing support—say, a percent of GDP [in a lump sum that would be divided equally and distributed] to households in a recession.

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And while we’re at it, let the Fed regulate the lockdowns too. Such monetary wizards must be good at everything.

Fed’s Kashkari Suggests 4-6 Week Shutdown (R.)

The U.S. economy could benefit if the nation were to “lock down really hard” for four to six weeks, a top Federal Reserve official said on Sunday, adding that Congress can well afford large sums for coronavirus relief efforts. The economy, which in the second quarter suffered its biggest blow since the Great Depression, would be able to mount a robust recovery, but only if the virus were brought under control, Neel Kashkari, president of the Minneapolis Federal Reserve Bank, told CBS’ “Face the Nation.” “If we don’t do that and we just have this raging virus spreading throughout the country with flare-ups and local lockdowns for the next year or two, which is entirely possible, we’re going to see many, many more business bankruptcies,” Kashkari said.


“That’s going to be a much slower recovery for all of us.” He said Congress is positioned to spend big on coronavirus relief efforts because the nation’s budget gap can be financed without relying on foreign borrowing, given how much Americans are saving. “Those of us who are fortunate enough to still have our jobs, we’re saving a lot more money because we’re not going to restaurants or movie theaters or vacations,” Kashkari said. “That actually means that we have a lot more resources as a country to support those who have been laid off,” he said.

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When you let this continue, you’re not trying to let the economy recover.

Tech Stock Buybacks Are Surging (ZH)

Two months ago, we showed that contrary to conventional wisdom and corporate reps and warrants that buybacks had effectively been put on hold for the duration of the covid pandemic, not only were companies still repurchasing their shares but it was the tech names – those who have stormed higher since the March lows – that were the biggest culprits. Now, two months after we first revealed Wall Street’s worst kept secret, the Financial Times has also noticed that Corporate America is finding it hard to kick the share buyback habit, even after the US slipped into its worst recession in decades.

While total buybacks are indeed expected to drop this year as the downturn caused by coronavirus saps corporate profits, companies in the S&P 500 that have reported second-quarter earnings so far have reduced the number of their outstanding shares by an average of 0.3 per cent from the previous quarter, according to calculations from Credit Suisse. Furthermore, updates showed that some of the largest US multinationals continued to buy back their own stock or even accelerated stock repurchases and nowhere more so than the tech names we first highlighted at the end of May. Take Google’s parent company Alphabet, which spent $6.9bn on buybacks for the quarter, up 92% from a year prior, the company revealed in its earnings results last Thursday.

Microsoft, the second-largest listed US company, purchased $5.8bn of its own stock in the period, up 25% from a year earlier, and likely among the chief reasons for the stock’s amazing surge. Elsewhere, Biogen spent $2.8bn on buybacks for the period, up 17% from last year, WR Berkley, an insurer, did not buy any of its shares in the second quarter last year, but spent $97m on its stock in the period this year, and Celanese increased its planned buybacks for the year by $500m to $1.5bn in July, after selling its stake in a Japanese joint venture. Of course, the biggest source of buybacks was once again Apple, which repurchased $16BN in the second quarter, down 6% on the period last year, though by far the biggest stock repurchaser among S&P 500 companies in recent years.

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Preventing monopolies was once one of Washington’s main preoccupations.

America’s Monopoly Problem Goes Way Beyond the Tech Giants (Dayen)

The truth is that, even if Congress somehow decreed the breakup of all four tech giants, the U.S. would still have an astounding number of industries controlled by a tiny number of firms. That’s because the structure of modern capitalism favors companies that operate at once-unimaginable scale, in the absence of a government will to prevent monopolies from forming. Lawmakers and the public should be concerned about the surveillance networks by which Facebook and Google—which dominate the digital-advertising market—track users, build data profiles on them, and serve them customized ads. But millions of rural Americans cannot access the internet to begin with, in part because telecom companies harass, fight, and induce state legislatures to pass laws restricting municipal broadband.

Across America, people send their kids to Starbucks parking lots to piggyback on the wifi and complete their homework. Amazon’s rapidly expanding e-commerce empire—and the potential consequences for Main Streets and municipal tax bases across the country—is definitely worth worrying about. But among the other forces squeezing out small retailers are dollar stores, a market segment dominated by two firms that together have about six times more outlets in America than Walmart. Last summer in Marlinton, West Virginia, I saw a Dollar General right next door to a Family Dollar. Despite the pandemic, Dollar General still plans to open 1,000 new stores in 2020. Software developers who want to sell apps to iPhone users must do so through Apple’s App Store, which spells out rules that they must follow and collects up to 30 percent of sales.

This is little different from the situation of small farmers, who must raise livestock to the exacting specifications of the meatpacking giants and can lose their livelihoods on those companies’ whims. And just as Amazon sometimes undercuts the smaller third-party sellers that use its platform, Big Agriculture competes directly with smaller suppliers; the top four hog firms, which control around two-thirds of the market, typically own farms, slaughterhouses, warehouses, and distribution trucks, every step from the pig trough to the dinner table. Whether you are shopping for pacemakers, sanitary napkins, or wholesale office supplies, you will find very few sellers. You think you have choices in grocery aisles or at car-rental counters, but the majority of consumer products come from a handful of companies.

Competition is hardly stiff when even many store brands are just renamed versions of market-leading products; at Costco, the batteries come from Duracell and the coffee from Starbucks. To focus the discussion of monopoly on the tech sector is to minimize the scope of a problem long in the making. Forty years ago, the government essentially stopped policing industry concentration. The conservative legal theorist Robert Bork—later a failed Supreme Court nominee—and his allies in the law-and-economics movement argued that any merger making businesses more efficient must be approved, and that a larger scale generally increases efficiency. Bork’s analysis gained enormous power in the courts and the Reagan administration. The lawyers and the bankers who handled mergers and acquisitions loved it.

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Pelosi and Schumer agree.

White House Puts Chinese Apps On Notice (SCMP)

US President Donald Trump will take action against TikTok, WeChat and “countless” Chinese software companies that pose a national security threat to America, US Secretary of State Mike Pompeo said on Sunday, apparently widening the scope of attention the US government is paying to online tech platforms developed in China. “These Chinese software companies doing business with the United States, whether it’s TikTok or WeChat, there are countless more … are feeding data directly to the Chinese Communist Party their national security apparatus,” Pompeo said in a Fox News interview. “It could be their facial recognition pattern, it could be information about their residence, their phone numbers, their friends who they’re connected to.”

“Those are the issues President Trump’s made clear we’re going to take care of,” Pompeo said. “He will take action in the coming days with respect to a broad array of national security risks that are presented by software connected to the Chinese Communist Party.” Focusing on TikTok specifically, US Treasury Secretary Steven Mnuchin, whose department is overseeing a national security review of the company, said on Sunday that the company will need to be blocked in the US or sold to another company. Pompeo’s warning to Chinese software companies came as Trump agreed to give the Chinese internet giant ByteDance 45 days to negotiate a sale of the popular short-video app to Microsoft, according three people familiar with matter, Reuters reported.

[..] The mobile platform, which lets users create and share 15 second videos with custom music clips, has built a huge user base in the US, particularly within younger age brackets. Mnuchin added that he had spoken with Chuck Schumer, the most senior Democrat in the Senate, and House Speaker Nancy Pelosi, also a Democrat, about the issue and that they all agree that a sale or a block on the site would be necessary, using the authority of International Emergency Economic Powers Act, if needed. Responding to the drumbeat of comments about TikTok over the past week, the company’s general manager for US operations, Vanessa Pappas, told users on Saturday that the company was working to give them “the safest app” and that “We’re not planning on going anywhere”.

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Too much repetition makes people look away.

Humanity Likely Faces Rapid ‘Catastrophic Collapse’ – Study (NYP)

It’s not the news you want to hear during a global health crisis. In a new theoretical study appearing in Nature Scientific Reports, a pair of statistical researchers have warned that rampant human consumption has sent us on a tailspin towards a rapid “catastrophic collapse” — which could happen in the next two to four decades. Forest density, or the current lack thereof, is considered the cataclysmic canary in the coal mine, according to the report. By comparing the rate of deforestation against humanity’s rate of consumption, study authors Mauro Bologna and Gerardo Aquino have determined there’s a 90% chance our species will collapse within decades — calling this estimate an “optimistic” measure.

“Based on the current resource consumption rates and best estimate of technological rate growth our study shows that we have very low probability, less than 10% in most optimistic estimate, to survive without facing a catastrophic collapse,” they wrote. While much attention has been paid to the ways in which greenhouse gases have contributed to the demise of our species, Aquino focused mathematical models on the “undeniable fact” of human-driven deforestation. “Before the development of human civilizations, our planet was covered by 60 million square kilometers [37 million square miles] of forest,” according to the article. “As a result of deforestation, less than 40 million square kilometers [25 million square miles] currently remain.”

The researchers set out to “evaluate the probability of avoiding the self-destruction of our civilization” based on numerical simulations — charts and graphs that don’t look like much to us laymen, but for two theoretical physicists, they amount to disaster. They also call into play “Fermi’s paradox,” which refers to the theoretical discussion of extraterrestrial life from Enrico Fermi, an Italian physicist who once asked, “Where is everybody?” One aspect of the discourse is the idea that self-destruction caused by unsustainable environmental exploitation may be an inevitability of intelligent life — and thus a potential reason why we have not yet had the opportunity to meet our galactic neighbors.

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From February, but highly relevant today.

How The Guardian and New York Times ‘Set Up’ Julian Assange (M.)

[..] as the War Logs’ mutually-agreed publication deadline loomed, both the Times and Guardian grew increasingly anxious about being associated with the material. His film, shot just prior to the release, documents this transformation in real-time — in one highly illuminating segment, Assange informs Gavin MacFayden, then-director of the University of London’s Centre for Investigative Journalism, the New York Times has requested WikiLeaks ‘scoop’ them by publishing analysis of the Afghan War Logs first. The ‘naivety’ Davis referenced is palpably on display — “they want to report on our reporting, so they can claim they’re not involved!” Assange splutters bemusedly, in evident disbelief a newspaper would be actively resistant to publishing a seismic exclusive.

As Davis attested, the footage makes for thoroughly “chilling” viewing in the present day, given Assange is “now in jail as a result of that subterfuge”. Simultaneously, Assange himself was also growing increasingly anxious, in his case about the identities of informants and other individuals featured in the logs being revealed — no effort had been made by Guardian journalists to remove a single one, and despite repeated requests he wasn’t provided with staff or technical support to redact them. As a result, the WikiLeaks chief took up the “moral responsibility” for the files — his requests for publication to be delayed in order to give him enough time to adequately “cleanse” the documents were ignored, so he was compelled to “literally work all night” to redact around 10,000 names, Davis said.

In a perverse irony, the documentarian also exposed how despite Assange ultimately acquiescing to publishing the Logs Sunday 25th July 2010 in order to allow The Guardian and Times to ‘report’ on the story the next day, the plan was disrupted by technical issues with the WikiLeaks website. As Assange struggled to get the content online, Davis said he was inundated with “panicked, hysterical calls” from The Times and Guardian, which grew more frenzied as the day wore on — the two outlets were literally on the verge of ‘stopping the presses’, as the front-page splashes on the Afghan War Logs were entirely predicated on the notion WikiLeaks had published the documents the day prior.

It would take several days for WikiLeaks to publish the War Logs — The Guardian and Times nevertheless ran their scheduled stories on 26th July 2010, reporting on the release of the logs, despite the fact they hadn’t actually appeared on the WikiLeaks website. “Julian was their fall guy. They printed a lie. These two high priests of journalistic integrity very happily colluded, reporting on something that hadn’t happened. The entire searchable Afghan War Logs interface was the sole creation of The Guardian, they promoted it on their website and in the paper, but then they turned round and said ‘we didn’t publish this, Julian did’. They set him up from the start. They should be in jail too,” Davis concluded.

Read more …

 

 

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Jul 182020
 


John Vachon Paramount Theater and dairy truck, 44th Street, NYC 1943

 

Zelenko Study Suggests HCQ, Zinc Effective as Early Corona Treament (PRN)
Oxford Vaccine Could Provide ‘Double Protection’ (Sky)
Coronavirus Symptoms Fall Into Six Different Groupings (G.)
The Fed Is Setting The Stage For A Major Policy Change (BBG)
EU Leaders Deadlocked Over COVID Recovery Plan (R.)
As EU Leaders Squabble, The Elephant In The Room Goes Unnoticed (Varoufakis)
On Eve Of Bankruptcy, US Firms Shower Execs With Bonuses (R.)
A Tale of Two CNNs: A Network Struggling With Objectivity (Turley)
St. Louis Prosecutor Targeting McCloskeys Gets $78,000 From Soros Group (JTN)
White Helmets Co-Founder Stole Aid Money Destined For Syria (RT)
Docs Show Peter Strzok Tore Apart NYT Report On Trump-Russia Contacts (DC)
Joe Biden’s Plagiarism Is a Danger to America (Epshteyn)
A Bigger Picture (Jim Kunstler)

 

 

 

 

 

 

 

 

 

 

 

 

Maté NYT

 

 

“Hydroxychloroquine’s main function within this treatment approach is to allow zinc to enter the cell. Zinc is the virus killer..”

Zelenko Study Suggests HCQ, Zinc Effective as Early Corona Treament (PRN)

Dr. Vladimir Zelenko, a New York based primary care physician, announced that a retrospective analysis based on his patient data is available to read online at www.thezelenkoprotocol.com. The study, which has been submitted for peer review, found that early intervention and treatment of risk stratified COVID-19 patients in the outpatient setting resulted in five times less hospitalizations and deaths. The medications used in the treatment approach were zinc, low dose hydroxychloroquine, and azithromycin. Prior studies of COVID-19 treatments have been largely based on severely ill patients in the hospital. This study examines outcomes of patients treated after their first visit to the doctor’s office.

Using simple risk stratification criteria, Dr. Zelenko identified which patients required prescriptions for the triple drug therapy, and prescribed these medications for five days. To produce the study, Zelenko collaborated with Dr. Roland Derwand, a German medical doctor and life science industry expert, and Professor Martin Scholz, an independent consultant and adjunct professor for experimental medicine at Heinrich Heine University, Düsseldorf, Germany. Derwand and Scholz performed the data analysis while Zelenko handled all in-person treatments. The main results show that of 141 patients who were treated with the triple therapy, only 2.8% (4/141) were hospitalized compared to 15.4% of an untreated control group (58/377) (odds ratio 0.16, 95% CI 0.06-0.5; p<0.001).

Only 0.71% (1/141) patients died in the treatment group, versus 3.5% (13/377) in the untreated group (odds ratio 0.2, 95% CI 0.03-1.5; p=0.16). “These three medications are affordable, available in pill form, and work in synergy against COVID-19,” said Zelenko. “Hydroxychloroquine’s main function within this treatment approach is to allow zinc to enter the cell. Zinc is the virus killer, and azithromycin prevents secondary bacterial infection in the lungs and reduces the risk of pulmonary complications.” “The world seems to have forgotten common medical knowledge: that we want to treat any patient with an infectious disease as soon as possible,” said Derwand. “What differentiates this study is that patients were prescribed these medications early, in the outpatient setting. Dr. Zelenko treated his risk stratified patients immediately and didn’t wait for the disease to intensify.”

“The well-tolerated 5-day triple therapy resulted in a significantly lower hospitalization rate and less fatalities with no reported cardiac side effects compared with relevant public reference data of untreated patients,” said Sholz. “The magnitude of the results can substantially elevate the relevance of early use, low dose hydroxychloroquine, especially in combination with zinc. This data can be used to inform ongoing pandemic response policies as well as future clinical trials.” “It’s unfortunate much of the news coverage surrounding hydroxychloroquine has been negative,” Zelenko added. “This study suggests that when taken early and together with zinc and azithromycin, this cost-effective drug can be part of the solution to the pandemic.”

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Shame they don’t explain what that double thing might be. Reads like an ad.

Oxford Vaccine Could Provide ‘Double Protection’ (Sky)

Researchers at the University of Oxford believe they have made a breakthrough in the development of a coronavirus vaccine. Human trials are reported to have shown promising results after the team discovered the jab could provide “double protection” against the virus. Blood samples taken from volunteers in phase one trials have shown the vaccine stimulated the body to produce antibodies and T-cells, according to a report in The Daily Telegraph. T-cells play a central part in the body’s immune response. A source told the newspaper that the combination “will hopefully keep people safe”. The vaccine is one of more than 100 in development as the coronavirus continues to spread – infecting more than 13 million people and killing at least 582,000.

David Carpenter, chairman of the Berkshire Research Ethics Committee, which approved the Oxford trial, said the vaccine team was “absolutely on track”. He added: “Nobody can put final dates… things might go wrong but the reality is that by working with a big pharma company, that vaccine could be fairly widely available around September and that is the sort of target they are working on.” The vaccine development is being supported by the UK government and AstraZeneca. The pharmaceutical company’s chief executive said last month that phase one trials were due to finish and a phase three trial had begun which will see the vaccine given to thousands of people so it can be tested for efficacy and safety.

The firm has reached agreements to supply around two billion doses worldwide, despite acknowledging that it is not yet certain the vaccine will work. The vaccine is based on a weakened version of the common cold that causes infections in chimpanzees. It also contains the genetic material of the spike protein of SARS-CoV-2 – the strain of coronavirus that causes the COVID-19 illness. The UK government has also given £41m to the development of another coronavirus vaccine being developed by London’s Imperial College.

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If you let an algoritm do your work for you, it had better be a very good one. This feels shaky.

Coronavirus Symptoms Fall Into Six Different Groupings (G.)

Symptoms of Covid-19 appear to fall into six different groupings, researchers have revealed, in work they say could help to predict whether a patient will end up needing a ventilator or other breathing support. The team say the findings could give healthcare providers several days advanced warning of demand for hospital care and respiratory support. But it could also help flag patients at risk of becoming seriously ill, meaning home support, such as an oxygen meter or nurse visits, could be provided so that any deterioration is spotted quickly and hospital attendance is prompt. At present, the team added, the average time to get to hospital with Covid-19 is 13 days.

[..] The researchers drew on data from 1,653 users who tested positive for Covid-19, reported persistent symptoms and regularly logged updates on their health and situation. Overall, 383 of these users made at least one trip to hospital, and 107 required either extra oxygen or ventilation. [..] The team then used machine learning algorithms – a type of artificial intelligence – to explore whether some symptoms, among the 14 monitored, cluster together. The results suggest six different groupings based on the type of symptoms, when they occurred, and their duration within the first 14 days of participants’ sickness.

And there was more. “We saw that there was a very clear gradient between these clusters and outcomes in terms of [participants’ need for] respiratory support,” said Dr Claire Steves, clinical senior author on the paper from King’s College London, adding other factors such as older age or certain pre-existing medical conditions were more common in some groups.

The six groupings, or “clusters”, are:
Cluster 1: Mainly upper respiratory tract symptoms, such as a persistent cough, with muscle pain also present. About 1.5% of patients in this group required respiratory support, with 16% making one or more trips to hospital. This was the most common cluster of symptoms, affecting 462 participants.
Cluster 2: Mainly upper respiratory tract symptoms, but also a greater frequency of skipped meals and fever. Of patients in this group 4.4% required respiratory support, with 17.5% making one or more trips to hospital.
Cluster 3: Gastrointestinal symptoms such as diarrhoea, but few other symptoms. While only 3.7% of patients in this group later needed respiratory support, almost 24% made at least one visit to hospital.
Cluster 4: Early signs of severe fatigue, continuous chest pain and cough. Of patients in this group 8.6% required respiratory support, with 23.6% making one or more trips to hospital.
Cluster 5: Confusion, skipped meals and severe fatigue. Of patients in this group 9.9% required respiratory support, with 24.6% making one or more trips to hospital.
Cluster 6: Marked respiratory distress including early onset of breathlessness and chest pain, as well as confusion, fatigue and gastrointestinal symptoms. Almost 20% of this group needed respiratory support and 45.5% made one or more visits to hospital. But this was the least common symptom cluster, affecting 167 participants.

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The theories they base their decisions on are either outdated, plain wrong or made up on the spot. They have one thing in common: they benefit banks, not people. As long as the Fed remains in place, the US will never have a healthy economy.

The Fed Is Setting The Stage For A Major Policy Change (BBG)

For the Federal Reserve, this time really is different. Having learned a hard lesson in the last recovery – don’t tighten monetary policy too early – the central bank is leaning in the opposite direction. In practice, that means the Fed will not just emphasize actual inflation over forecasted inflation, but will also attempt to push the inflate rate above its 2 per cent target. It’s a whole new ballgame. The Fed’s traditional Phillips curve approach to forecasting inflation, which relies on the theory that inflation accelerates as unemployment falls, was widely criticized during the most recent economic recovery. Inflation remained quiescent in the wake of the Great Financial Crisis even as the unemployment rate fell to 3.5 per cent, well below the 2012 high estimate of the natural rate, or 5.6 per cent.

The Fed’s commitment to Phillips curve-based inflation forecasts induced it to raise interest rates too early in the cycle and continue to boost rates into late 2018 even as faltering markets signaled the hikes had gone too far. The Fed was eventually forced to lower rates 75 basis points in 2019 to put a floor under the economy. Inflation remained stubbornly below the Fed’s 2 per cent target throughout that period. Faced now with the prospect of another prolonged period of low inflation, Fed officials are signaling they will place less emphasis on Phillips curve estimates when setting policy. Fed Governor Lael Brainard said this week that “with inflation exhibiting low sensitivity to labor market tightness, policy should not preemptively withdraw support based on a historically steeper Phillips curve that is not currently in evidence.”

No longer are estimates of longer-run unemployment taken as almost certainly indicating the economy is at full employment. Instead, Brainard said the Fed should focus on achieving “employment outcomes with the kind of breadth and depth that were only achieved late in the previous recovery.” The Fed is going to try to run the economy hot to push down unemployment. By de-emphasizing the Philips curve, the Fed loses its primary inflation forecasting tool. Instead of an inflation forecast, the Fed will rely on actual inflation outcomes to determine the appropriate time to change policy. Brainard pointed out that “research suggests that refraining from liftoff until inflation reaches 2 per cent could lead to some modest temporary overshooting, which would help offset the previous underperformance.”

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The sheer quantity of the economic losses may well tear the EU apart. The rich countries have rich citizens to answer to, the poor have different problems.

EU Leaders Deadlocked Over COVID Recovery Plan (R.)

EU leaders failed on Friday to make headway in negotiations over a massive stimulus plan to breathe life into economies ravaged by the coronavirus pandemic, returning to their Brussels hotels shortly before midnight to rest and try again in the morning. Many of the 27 heads declared on arrival for their first face-to-face summit for five months that a deal was crucial to rescue economies in free fall and shore up faith in the European Union, which has lurched for years from crisis to crisis. But officials said a thrifty camp of wealthy northern states led by the Netherlands stood its ground on access to the recovery fund, in the face of opposition from Germany, France, southern nations Italy and Spain, and eastern European states.

The proposed sums under discussion include the EU’s 2021-27 budget of more than 1 trillion euros and the recovery fund worth 750 billion euros that will be funneled mostly to Mediterranean coast countries worst affected by the pandemic. Diplomats said the 27 remained at odds over the overall size of the package, the split between grants and repayable loans in the recovery fund and rule-of-law strings attached to it. But the main stumbling block was over vetting procedures to access aid, an EU official said, with Dutch Prime Minister Mark Rutte demanding that one country could block payouts from the fund if member states backslide on economic reform. “If they want loans and even grants then I think it’s only logical that I can explain to people in the Netherlands … that in return those reforms have taken place,” Rutte said, estimating the chances for a deal at fifty-fifty.

Polish premier Mateusz Morawiecki was even more gloomy. As the leaders broke up for the day, he tweeted that they were divided by a bundle of issues and said it was “highly probable” that they would fail to reach a deal on Saturday or even on Sunday if the summit drags past its scheduled two days. German Chancellor Angela Merkel, who celebrated her 66th birthday around the negotiating table in Brussels, was also cautious on chances for an agreement, envisaging “very, very difficult negotiations”.

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Recovery plan: 1%. Austerity: 4%.

As EU Leaders Squabble, The Elephant In The Room Goes Unnoticed (Varoufakis)

While the media are reporting the news of the deadlocked EU Summit negotiations over the so-called ‘Recovery Fund’, an eerie silence prevails regarding the Elephant in the Room: The huge wave of austerity the Eurozone is sleepwalking towards. Let’s look at the facts. Even if the Dutch Prime Minister, Mr Rutte, and the rest of the ‘frugal four’, were to remove their objections to the Recovery Fund’s terms and conditions, the net fiscal effect across the Eurozone will be no more than 1% annually for three years. Now, let us turn to the Elephant in the Room: the dreaded return of the obligation to balance government budgets, the infamous Fiscal Compact.

According to the optimistic scenario of the European Commission, the Eurozone’s mean government budget in 2020 will be -8% of total Eurozone GDP . Of this, next year, the nascent steady-state recovery will remove, at best 4%, leaving the Eurozone, on average, with a -4% 2021 budget deficit. Moreover, as this is a mean, some countries (e.g. Italy and Greece) are facing, in 2021, a steady state budget deficit in excess of -8% (down from -15% in 2020). Which means that, to get back to balanced budgets, on average, the Eurozone will impose upon itself fiscal austerity of approximately 4% of its aggregate GDP, with countries like Italy and Greece facing an austerity nightmare in excess of 8% of their crushed GDP.

If this were to be allowed to happen, the Recover Fund’s 1% annual fiscal boost will be countered by a 4% fiscal austerity wave. As Europe begins to recover from the pandemic’s disastrous effects, Brussels will be hitting our economies over the head with a sledgehammer. And yet, ultimate proof that the EU’s establishment resembles the Bourbons (in that they forget nothing and learn nothing!), our great and good leaders refuse to discuss this ominous Elephant in the Room, choosing instead to invest hours in endless negotiations over the 1% fiscal boost and whether it should be reduced or how it will be managed.

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This is America.

On Eve Of Bankruptcy, US Firms Shower Execs With Bonuses (R.)

Nearly a third of more than 40 large companies seeking U.S. bankruptcy protection during the coronavirus pandemic awarded bonuses to executives within a month of filing their cases, according to a Reuters analysis of securities filings and court records. Under a 2005 bankruptcy law, companies are banned, with few exceptions, from paying executives retention bonuses while in bankruptcy. But the firms seized on a loophole by granting payouts before filing. Six of the 14 companies that approved bonuses within a month of their filings cited business challenges executives faced during the pandemic in justifying the compensation.Even more firms paid bonuses in the half-year period before their bankruptcies.

Thirty-two of the 45 companies Reuters examined approved or paid bonuses within six months of filing. Nearly half authorized payouts within two months. Eight companies, including J.C. Penney and Hertz, approved bonuses as few as five days before seeking bankruptcy protection. Hi-Crush Inc, a supplier of sand for oil-and-gas fracking, paid executive bonuses two days before its July 12 filing. J.C. Penney – forced to temporarily close its 846 department stores and furlough about 78,000 of its 85,000 employees as the pandemic spread – approved nearly $10 million in payouts just before its May 15 filing. On Wednesday, the company said it would permanently close 152 stores and lay off 1,000 employees.

[..] Luxury retailer Neiman Marcus Group in March temporarily closed all of its 67 stores and in April furloughed more than 11,000 employees. The company paid $4 million in bonuses to Chairman and Chief Executive Geoffroy van Raemdonck in February and more than $4 million to other executives in the weeks before its May 7 bankruptcy filing, court records show. Neiman Marcus drew scrutiny this week on a plan it proposed after filing for bankruptcy to pay additional bonuses to executives. Hertz – which recently terminated more than 14,000 workers – paid senior executives bonuses of $1.5 million days before its May 22 bankruptcy, in part to recognize the uncertainty they faced from the pandemic’s impact on travel, the company said in a filing.

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Turley is overly diplomatic. CNN left objectivity behind a long time ago. CNN only still exists because Trump exists and they can dump on him 24/7.

A Tale of Two CNNs: A Network Struggling With Objectivity (Turley)

There was a telling moment of dissonance on CNN this week, a network that is now unrelenting in its negative and highly partisan coverage of the Administration. CNN’s White House reporter Jim Acosta has been repeatedly called out for such bias and sent out a clearly misleading tweet bashing White House press secretary Kayleigh McEnany. Meanwhile, CNN host Jake Tapper set the record straight in fairness to McEnany. While I have occasionally criticized Tapper, I have more often praised him for his professionalism and intellect. This is why. This is what CNN was once and, with the help of figures like Tapper, it could be again: an honest and objective news organization.

In Thursday’s briefing, McEnany repeated President Trump’s call for children to go back to school in the fall. “The science should not stand in the way of this, but as Dr. Scott Atlas said — I thought this was a good quote, ‘Of course, we can do it. Everyone else in the Western world, our peer nations are doing it. We are the outlier here.’ The science is very clear on this. For example, you look at the JAMA pediatric study of 46 pediatric hospitals in North America that said the risk of critical illness from COVID is far less for children than the seasonal flu. The science is on our side here. We encourage localities and states to just simply follow the science. Open our schools.”

She is clearly citing the science as supporting the position of the Administration. However, Acosta clipped the statement to make it sound like McEnany was dismissing the relevance of science: “The White House Press Secretary on Trump’s push to reopen schools: ‘The science should not stand in the way of this.’” That was clearly and absolutely false. However, Acosta knew that it would play well in the eco-journalistic model adopted by CNN. He quickly racked up 30,000 retweets. He then later added that McEnany actually meant the opposite. That received less than 700 retweets. It is the ultimate example of the demand of many viewers to only hear news that supports their own bias and adds to a type of journalistic comfort zone.

That was clearly and absolutely false. However, Acosta knew that it would play well in the eco-journalistic model adopted by CNN. He quickly racked up 30,000 retweets. He then later added that McEnany actually meant the opposite. That received less than 700 retweets. It is the ultimate example of the demand of many viewers to only hear news that supports their own bias and adds to a type of journalistic comfort zone. To Acosta’s credit, he sent out the second tweet, but saying “McEnany went on to say ‘the science is on our side here’” does not quite capture the scene. The quote was McEnany referring to a scientific study and, right after the line quoted, McEnany said “The science is very clear on this.” She then two lines later added “The science is on our side here.” The entire quote was McEnany raising a scientific study that supports their position.

It is akin to a McEnany saying “National security is not relevant because the Defense Department report supports this policy” only to have Acosta tweet “The White House Press Secretary: “National Security is not relevant” in White House policy. Over at CNN headquarters however Tapper stepped out of that comfort zone and corrected CNN’s chief medical correspondent Dr. Sanjay Gupta after he repeated the same false narrative that McEnany was having an “alternative facts kind of moment.” Tapper responded: “If I could just say, Sanjay,. I think she was just trying to say that the science shouldn’t stand in the way because the science is on our side. I don’t know that all of the science is on their side- and certainly, this White House, their respect for science knows bounds, let’s put it that way, but I think that’s what she was getting at.”

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Where the real battle is.

St. Louis Prosecutor Targeting McCloskeys Gets $78,000 From Soros Group (JTN)

The Missouri Justice Public Safety PAC, which is linked to George Soros, has donated nearly $78,000 in contributions to St. Louis Circuit Attorney Kim Gardner’s 2020 campaign, according to her July 15, 2020 financial report, obtained by Just the News. Missouri Justice & Public Safety PAC, which donated the amount through in-kind contributions, was contacted for this story but has yet to respond with comment. The Washington, D.C.-based political action committee is listed at the same street address as one that contributed to Gardner’s 2016 campaign. The Safety and Justice PAC that contributed to the 2016 campaign has the same 13th Street NW address of the Missouri Justice & Public Safety PAC. Both have financial links to Soros.

“Yes, it’s no secret we contribute to Safety and Justice PACs,” Soros spokesman Michael Vachon, told Just the News. “We are for criminal justice reform.” The Gardner campaign filed its financial report on Thursday, the same day Missouri GOP Sen. Josh Hawley sent a letter to Attorney William Barr calling for a federal civil rights investigation into Gardner. Gardner, St. Louis’ top prosecutor, remains under criminal investigation for her handling of the criminal investigation into former Republican Gov. Eric Greitens. More recently, Gardner has targeted Mark and Patricia McCloskey for defending their home June 28 when they brandished their guns as hundreds of Black Lives Matters protestors trespassed onto their property as they headed to the St. Louis mayor’s home.

The protesters barged through the McCloskeys’ privately closed gate and onto their private road. President Trump and Missouri Governor Michael Parson have even weighed in with concern for how Gardner is handling the situation. Hawley, who is the former Missouri attorney general, argues that Gardner has abused her office after seizing McCloskey’s guns while pursuing a possible indictment of the married couple.

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I’m so surprised I can’t tell you. These wankers receive over $30 million a year from governments?! To do what? Plants chemical canisters twice a year?

White Helmets Co-Founder Stole Aid Money Destined For Syria (RT)

As Western governments opened their checkbooks for the White Helmets – a controversial ‘rescue organization’ in Syria – their co-founder used the cash to top up his wage and even finance his wedding, according to a Dutch report. Days before he plunged from a window in Istanbul to his death last year, White Helmets co-founder and British mercenary James Le Mesurier admitted to defrauding Mayday Rescue, an organization that fundraised for the anti-government rescue group in Syria. According to documents seen by Dutch newspaper De Volkskrant, Le Mesurier told an accountant sent to audit the charity’s books that he forged receipts for $50,000, pretending that it was sent to finance an evacuation operation in Syria.

Instead, the money was paid to Le Mesurier himself. In addition to paying himself a salary of €24,000 ($27,414) per month, Le Mesurier dipped into company cash to finance a lavish wedding in Istanbul in 2018, and to issue loans to his new wife, former diplomat Emma Winberg, the report claims. The accountant sent to investigate Mayday found that “tens of thousands of dollars in cash” were withdrawn to pay for the “fairytale wedding.” Meanwhile, governments across the Western world were lining up to support Mayday, and channel money to the White Helmets. According to a 2018 report by the Dutch Ministry of Foreign Affairs, the organization took in $127 million between 2014 and 2018, with only $19 million of this haul coming from non-state donors.

The government of the Netherlands paid out almost $11.5 million in this period, while similar donations flowed in from Germany, Great Britain, Canada, Qatar, and others. Despite being hailed as fearless rescue workers, the White Helmets have been accused of partnering with Al-Qaeda. Operating exclusively in rebel-held territory, the group’s members have been photographed posing with jihadists and have been accused of staging chemical weapons attacks to draw in Western forces against Syrian President Bashar Assad. Le Mesurier’s death was deemed a suicide by Turkish authorities. Shortly afterwards, a number of countries that had donated to Mayday demanded an accountant have another look over the organization’s books. According to De Volkskrant, this probe found that most of Mayday’s financial records are “missing.” Donations were not just handed to the organization in Amsterdam and forwarded to Syria, but distributed through a network of commercial organizations in Turkey and Dubai.

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Less than four months until the election.

Docs Show Peter Strzok Tore Apart NYT Report On Trump-Russia Contacts (DC)

An FBI document released Friday details at least 14 inaccuracies in a New York Times report from early 2017 that leveled shocking allegations of Trump associates’ contacts with Russian intelligence officers. The document shows then-FBI counterintelligence official Peter Strzok’s comments on a Feb. 14, 2017 article entitled “Trump Campaign Aides Had Repeated Contacts With Russian Intelligence.” Written by journalists Michael Schmidt, Mark Mazzetti and Matt Apuzzo, the story cited four current and former American officials who said that U.S. law enforcement and intelligence agencies had intercepted call records showing that Trump associates had contacts with Russian intelligence in the year prior to the election. Strzok, who was the lead investigator on the Trump investigation, spotted 14 errors in the article.

The Senate Judiciary Committee released the document on Friday along with a memo of the FBI’s interviews with a key source of information for dossier author Christopher Steele. “This statement is inaccurate and misleading as written,” Strzok wrote in reference to the lead of the Times story, which said that officials had intercepted calls and obtained phone records of contacts between Russian intelligence officials and individuals associated with Trump. “We have not seen evidence of any individuals affiliated with the Trump team in contact with [Intelligence Officers],” Strzok’s note said. The Times reported that sources said former Trump campaign chairman Paul Manafort was one of the individuals picked up in intercepted calls with Russian intelligence officers.

The story also said that the FBI was sifting through a vast trove of call logs and intercepted communications as part of the investigation into any links between Trump associates and Russia. Strzok discounted those allegations, writing that “we are unaware of any call with any Russian government official in which Manafort was a party.” He also wrote that the FBI had “very few” call logs in its possession. Strzok reiterated in another section of the document that the FBI had no evidence that any Trump advisers had contact with Russian intelligence officials. “Again, we are unaware of ANY Trump advisers engaging in conversations with Russian intelligence officials,” he wrote.

The Times also inaccurately reported that the FBI was at the time investigation Roger Stone, a longtime Trump confidant. “We have not investigated Roger Stone,” Strzok wrote in reference to a section that said the FBI had “closely examined” the political operative along with several Trump campaign aides. [..] Sen. Lindsey Graham, who released the FBI documents on Friday, said in a press release that Strzok’s annotations on the Times article “are devastating in that they are an admission that there was no reliable evidence that anyone from the Trump Campaign was working with Russian Intelligence Agencies in any form.”

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And he’s not even doing the plagiarizing. His puppeteers to do it for him.

Joe Biden’s Plagiarism Is a Danger to America (Epshteyn)

Presumptive Democratic Party presidential nominee Joe Biden has a serious problem: His compulsive plagiarism has gotten out of control. As is clearly evident from his new policy platform, the former vice president just can’t stop stealing original ideas from other politicians—a rather worrying sign for someone whose mental fitness for the pressures of the presidency has already come under serious scrutiny. Biden’s “Made in America” doctrine—which calls for increased government purchases from U.S. producers—is strikingly similar to President Trump’s own America First economic platform. In fact, it’s almost identical to the executive order the president signed a full year ago prioritizing the purchasing of American-made products and the hiring of American workers by government agencies.

“Biden starts with a pretty basic idea—when we spend taxpayer money, we should buy American products and support American jobs,” the document reads, echoing Donald Trump’s repeated calls to “buy American” products and “hire American” workers (the very ideas the president has already put into practice using his executive authority). “He plagiarized from me, but he could never pull it off,” President Trump said recently, pointing out that Biden’s policies would not have nearly the same rejuvenating effect on the U.S. economy as Trump’s own decisive actions. “He likes plagiarizing. …But he said the right things because he’s copying what I’ve done, but the difference is he can’t do it.”

Of course, this sort of thing is nothing new for Biden. The “unity platform” he just released—a 110-page list of policy recommendations for the Democratic Party—shamelessly appropriated entire chunks of Senator Bernie Sanders’ (I-VT) “democratic-socialist” political agenda, in many cases word-for-word. Indeed, Biden even invited members of Bernie’s policy team to help craft the proposals. Last year, the Biden presidential campaign was also called out for pilfering language from various far-left special interest groups while crafting the candidate’s climate and education policies. Biden’s track record of plagiarism, in fact, can be traced all the way back to his days in law school. When confronted with his academic fraud, Biden airily blew off the accusations by claiming that his cheating was not “malevolent.”

The ugly tendency came back to haunt him during his 1988 presidential campaign, when he shamelessly stole turns of phrase from former Attorney General Bobby Kennedy and former Vice President Hubert Humphrey, and even appropriated the life story of British Labour Party Leader Neil Kinnock. Biden’s extensive history of plagiarism shows that neither he nor his political team have a clear, independent vision for the country. While the presumptive Democratic presidential nominee has never liked being called an empty vessel or a Trojan horse, that is precisely what his candidacy this election cycle has now become.

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Jim back to basics.

A Bigger Picture (Jim Kunstler)

In 1918, the country was lashed by a far deadlier pandemic disease at the same time it was fighting a world war, and daily life barely missed a step. The economy then was emphatically one of production, not the mere consumption of things made elsewhere in the world (exchanged for US IOUs), nor of tanning parlors, nail salons, streaming services, and Pilates studios. The economy was a mix of large, medium, and small enterprises, not just floundering giants, especially in the retail commerce of goods.

We lived distributed in towns, cities not-yet-overgrown, and a distinctly rural landscape devoted to rural activities — not the vast demolition derby of entropic suburbia that has no future as a human habitat. Banking was only 5% of the economy, not the bloated matrix of rackets now swollen to more than 40% of so-called GDP. Government at the federal and state levels was miniscule compared to the suffocating, parasitic leviathan it is now. What happened? Like Hemingway’s old quip about a man going broke slowly and then all-at-once, we allowed everything in American life to creep into hapless giantism too cumbersome to adapt to new conditions, and suddenly conditions have changed.

And now it’s all coming apart: the dying chain stores, the giant zombie companies that can only exist by borrowing money to buy back their own stocks, the auto-makers who have run out of lending schemes for non-creditworthy customers, the shale oil fracking companies that could never make a red cent, the agri-biz farmers grown morbidly obese on a diet of credit and government subsidies (just like their end-customers grew obese on engineered snack-foods), the Wall Street lords of financialization hypothecating fortunes by leveraging the stripped assets of everything not nailed down from sea to shining sea, the swelling underclass conditioned to helplessness, addiction, and vice, the inescapable ambient tyranny of media hype, propaganda, and disinformation, and, of course, the catastrophe that government has become.

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Jun 262020
 
 June 26, 2020  Posted by at 11:33 am Finance Tagged with: , , , , , , , , ,  47 Responses »


Dorothea Lange Depression refugee family from Tulsa, Oklahoma 1936

 

US Coronavirus Cases ‘May Have Topped 20 Million’ (BBC)
Pompeo Says US, EU Working To Resume Trans-Atlantic Travel (R.)
House Defense Bill Targets Troop Drawdowns In Africa, South Korea (Hill)
No More Crossing Borders For Work (Salmon)
The Fed Said It Could Supply $2.3 Trillion. It Hasn’t Come Close So Far (CNBC)
Parents To Sue Trump, Meme Creator Carpe Donktum Over Manipulated Video Of Toddlers
Why Joe Biden Can Do No Wrong (Turley)
Bayer Wants To Resolve Future Roundup Liability In A Class Action (R.)
New Assange Indictment Only Adds ‘Window Dressing’ to ‘Continue Smear Campaign’ (Sp.)
Doctors for Assange: UK Officials May be Legally Culpable for His Torture (CN)

 

 

Say what you will, but that virus is not sitting still, got to give it that. And as for us, we’re either not sitting still enough, or we’re making the wrong moves.

And I still can’t decide what I find scarier, that or the fast deteriorating political and media climate stateside.

Worldometer reports new cases for June 25 (midnight to midnight GMT+0) at + 179,718.

 

 

 

 

 

 

New cases past 24 hours in:

• US + 41,317
• Brazil + 40,673
• India + 17,720

 

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

 

 

This is where you say all bets are off, I guess.

US Coronavirus Cases ‘May Have Topped 20 Million’ (BBC)

At least 20 million people in the US may already have been infected with Covid-19, according to the latest estimate by health officials. The Centers for Disease Control (CDC) says the true number of cases is likely to be 10 times higher than the reported figure. It comes as the state of Texas halted its reopening as infections and hospitalisations surged. The US has recorded 2.4m confirmed infections and 122,370 deaths. Some southern and western states have been reporting record numbers of cases in recent days. The University of Washington predicts 180,000 US deaths by October – or 146,000 if 95% of Americans wear masks.

“Our best estimate right now is that for every case that was reported, there actually were 10 other infections,” CDC Director Dr Robert Redfield told reporters. This was because testing was restricted to people with symptoms and asymptomatic carriers were not tested, he said. “We probably recognized about 10% of the outbreak by the methods that we use to diagnosis between the March, April and May,” he said. Dr Redfield said that between 5% and 8% of the population had been exposed to the virus and urged Americans to keep social distancing, wearing masks and washing hands. “As we go into the fall, in the winter, these are going to be really, really important defence mechanisms,” he said.

[Texas], which has been at the forefront of moves to end lockdown measures, has seen thousands of new cases, prompting Republican Governor Greg Abbott to call a temporary halt to its reopening. “This temporary pause will help our state corral the spread until we can safely enter the next phase of opening our state for business,” he said. Texas confirmed a record 5,996 new cases on Thursday. There were also 47 new deaths, the highest daily toll for a month. The state has also seen record number of people requiring hospital treatment for 13 days in a row. Elective surgery has been suspended in the Houston, Dallas, Austin and San Antonio areas to free up beds. More than 10% of the tests carried out over the past week have come back positive. All but 12 of the state’s 254 counties have reported cases.

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Yeah, Europeans can’t wait to invite a bunch of infected Usaians to their homes.

Pompeo Says US, EU Working To Resume Trans-Atlantic Travel (R.)

US Secretary of State Mike Pompeo played down concerns Thursday that the European Union might refuse to allow Americans into the 27-nation bloc as it considers lifting restrictions on overseas travelers starting next week, due to the spread of the coronavirus in the United States. “It’s a challenge for all of us to decide how and when to open up our economies and our societies. Everybody’s trying to figure that out,” Pompeo said during a videoconference organized by the German Marshall Fund think tank. “We’re working with our European counterparts to get that right.” European nations appear on track to reopen their borders between each other by July 1. Their envoys to Brussels are debating what virus-related criteria should apply when lifting entry restrictions on travelers from outside the EU that were imposed in March.

As the criteria are narrowed down, a list of countries whose citizens might be allowed in is being drawn up. The list would be updated every 14 days based on how the coronavirus is spreading around the world. The EU’s executive commission recommends that “travel restrictions should not be lifted as regards third countries where the situation is worse” than the average in the 27 EU member countries plus Iceland, Liechtenstein, Norway and Switzerland. That is likely to rule out people living in the United States, where new coronavirus infections have surged to the highest level in two months, according to figures compiled by Johns Hopkins University.

Beyond epidemiological concerns, any country being considered would first be expected to lift its own travel restrictions on visitors from all 31 European nations. This would also rule out the US. In a March 11 decree, President Donald Trump suspended the entry of all people from Europe’s ID check-free travel area. More than 10 million Europeans usually visit the United States each year.

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The war party has two wings.

House Defense Bill Targets Troop Drawdowns In Africa, South Korea (Hill)

The House Armed Services Committee’s version of the annual defense policy bill seeks to put roadblocks on withdrawing U.S. troops from Africa and South Korea. The so-called chairman’s mark of the National Defense Authorization Act (NDAA) – the version of the bill drafted by Chairman Adam Smith (D-Wash.) – would require the Pentagon to report to Congress on the effects, implications and costs of a troop drawdown in Africa on military, diplomatic, development and humanitarian efforts. It would also require a report on the effects of a drawdown within 90 days if the number of troops dips below 80 percent of current force posture.

Reports first surfaced earlier this year that Defense Secretary Mark Esper was eying slashing the number of U.S. troops in Africa as part of a global review of U.S. force posture to redirect troops to counter Russia and China. He later confirmed he was considering a reduction but insisted it would not be a full withdrawal. The plan received bipartisan backlash from lawmakers who argued the troops are needed not only to fight terrorism, but also to serve as a buttress against Russian and Chinese efforts to increase their influence in Africa.

More recently, President Trump announced he plans to withdraw thousands of U.S. troops from Germany. Trump has framed the drawdown as a punitive measure in response to Germany not meeting NATO’s defense spending goal, while national security advisor Robert O’Brien argued in a Wall Street Journal op-ed the forces are needed in the Indo-Pacific region.

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Picked this from Felix Salmon for this crazy stat:

“..pre-coronavirus Apple was buying 50 business class seats per day just from San Francisco to Shanghai…”

No More Crossing Borders For Work (Salmon)

Another area where there’s no sign of any recovery is in the movement of workers across borders, especially when it comes to movement in and out of the U.S. Why it matters: Multinational U.S. corporations are built on international travel. Apple spends $150 million a year on air travel, for instance, and pre-coronavirus was buying 50 business class seats per day just from San Francisco to Shanghai. That level of investment in cross-border ties helped to create a company that’s now worth $1.6 trillion. Driving the news: U.S. borders remain shut to travelers from China and Europe. There are only eight flights per week between the U.S. and China; the United Airlines SFO-SHA route where Apple used to spend $35 million a year currently has no flights at all. The EU is almost certain to ban U.S. travelers when it reopens on July 1. And Donald Trump has banned thousands of nonimmigrant workers from entering the country this year.

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Because it only supports member banks.

The program is too complicated on purpose: the banks all have legal departments that have no trouble deciphering it.

The Fed Said It Could Supply $2.3 Trillion. It Hasn’t Come Close So Far (CNBC)

When the coronavirus pandemic locked up capital markets and pulled the economy into recession, the Federal Reserve took aim with a $2.3 trillion bazooka to try to help. Thus far, though, the central bank has only fired off surprisingly few rounds. In the three months since a slew of programs were announced, the Fed has loaned out just $143 billion, or a mere 6.2% of its total firepower. The most ambitious initiative, the Main Street Lending Program, has yet to make a loan, according to the most recent Fed balance sheet data, though officials expect that to change in a matter of days.

As for the rest of the measures, from municipal lending to corporate credit to the Fed’s role in the Paycheck Protection Program, there are several likely explanations for why what was supposed to be an infusion of cash into the economy instead has been a comparative trickle. One is simply that the programs, particularly in the case of Main Street, are complicated and have proven difficult to launch as the Fed gathers feedback and works through logistics. Another is that there is simply less demand from entities that are finding other ways to make do. And on that same point, the notion that the U.S. economy is recovering more quickly than expected from a recession that began in February has negated the need for the arsenal that the Fed launched starting in March.

“The economy is getting better, so you’re not seeing as many firms short of cash as you’d seen in March and April,” said Yiming Ma, an assistant finance professor at Columbia University Business School. “Some of the terms are just not very attractive to firms who potentially do need the funds.”

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Newsflash: we don’t all have the same kind of humor. But this goes very far.

Parents To Sue Trump, Meme Creator Carpe Donktum Over Manipulated Video Of Toddlers

The parents of two toddlers featured in a manipulated video posted on social media by President Donald Trump plan to file a lawsuit against the president, his campaign and the creator of the video, pro-Trump meme creator Carpe Donktum, escalating the fallout from the doctored video, which was taken down by Facebook and Twitter. Lawyers representing the parents of the children featured in the video are drafting a lawsuit alleging the video was altered and shared as an “advertisement and political propaganda” without permission or parental consent. Logan Cook, who goes by the username Carpe Donktum, altered footage of the two children in which one, who is Black, is running away from the other, who is white, and added a fake CNN chyron reading “Terrified toddler runs away from racist baby.”

The original clip, which went viral last year, actually shows the two toddlers running up to each other and hugging. (The edited video appears to be a satirical attempt criticize how the media takes statements out of context and reports on race.) Both Facebook and Twitter took the video down after the parents of the children filed a copyright complaint, and before that Twitter labeled the video “manipulated media.” Twitter late Tuesday permanently banned Cook for repeated copyright violations.

“The fact that Twitter and Facebook disabled this fake video within 24 hours of President Trump and his campaign tweeting it, coupled with Twitter permanently banning Cook, is very strong evidence that a jury will likely find that all of these people broke the law by using this video as advertisement and political propaganda,” said Ven Johnson, one of the attorneys representing the parents. Cook’s work is frequently shared by Trump, and the president reportedly called him a “genius” when he visited the White House last year. Twitter previously suspended Cook for eight days after he posted an edited video showing Trump as a cowboy attacking CNN reporter Jim Acosta.

Facebook and Twitter usually leave controversial posts from world leaders online, though Twitter has taken to labeling tweets with misinformation or those that “glorify violence” in recent weeks. But there’s one rule even world leaders can’t break: copyright. In October last year, another video posted by Trump featuring a Nickelback song was taken down after a copyright notice was filed. And earlier that year Twitter took down another video that included music from the Batman movie The Dark Knight Rises without permission.

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It’s going to be an absolutely crazy election.

Why Joe Biden Can Do No Wrong (Turley)

In the 11th century, Pope Urban II formalized the use of indulgences, which could be purchased to forgive sins. A papal bull of the Crusade accompanied those who fought in the Holy Land and committed atrocities in the name of a higher order. The practice was defended as essentially drawing from the “treasury of merit” created by Jesus Christ, the saints and the faithful. Now the 2020 election has become the ultimate crusade, and President Trump’s critics seem to be enjoying indulgences in tossing aside moral and ethical considerations. The freedom that is Biden is nowhere more evident than in a recent column by The Nation’s Katha Pollitt, who wrote about the allegations of sexual assault made by former Biden staffer Tara Reade.

Pollitt dispensed with any struggle over feminist or moral qualms, declaring, “I would vote for Joe Biden if he boiled babies and ate them.” As Pollitt explained, “We do not have the luxury of sitting out the election to feel morally pure or send a message about sexual assault and #BelieveWomen.” Otherwise, Pollitt would have to deal with her column during the confirmation hearing for Supreme Court nominee Brett Kavanaugh, in which she denounced “some of his defenders [who] seem to be saying that even if the allegations are true, it shouldn’t really matter.” For years, critics have expressed disgust at Trump’s statement that “I could stand in the middle of Fifth Avenue and shoot somebody and wouldn’t lose any voters.”

Yet they now afford Biden the same immunity even if he turns into the ancient god Cronus and starts snacking on boiled babies. The same indulgence has been claimed by politicians and commentators in dealing with other Biden allegations of sexual assault. Many of them demanded during the Kavanaugh controversy that all women must simply be believed when alleging sexual harassment. Those who questioned the allegations of Christine Blasey Ford were denounced for insensitivity, if not complicity, in the abuse of women. Today, some of us have said that Biden has the stronger case thus far, but we still support an investigation.

Yet many Kavanaugh critics quickly declared Biden to be innocent and opposed any search of his records — including those under lock and key at the University of Delaware — for any allegations of sexual abuse. House Speaker Nancy Pelosi (D-Calif.) simply cut off questions by testily declaring, “I don’t need a lecture” when confronted with her prior statements. Michigan Gov. Gretchen Whitmer (D) declared she sees no need for an investigation because she knows Biden and believes him, adding that she resented being asked about it as a victim of sexual assault. She cut off questions from CNN’s Jake Tapper by saying, “And you know what? That’s all I’m going to say about it.”

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They sponsor a legal panel that absolves them from most future claims. How sick is that?

Bayer Wants To Resolve Future Roundup Liability In A Class Action (R.)

The headlines Wednesday in the mass tort litigation over Bayer’s Roundup weedkiller were all about the company’s decision to pay as much as $9.6 billion – a lot of money! – to settle about 94,000 suits alleging that Roundup is associated with non-Hodgkins lymphoma. But the bigger news, at least for this case’s impact on mass tort litigation, may be in a novel proposal to address all future claims against Bayer. If the mechanism – a class action to determine threshold issues of causation while preserving plaintiffs’ individual rights to sue – ends up winning court approval, it’s going to change the way defendants buy global peace in these sprawling cases.

The Roundup future claims settlement is via a newly-filed prospective class action on behalf of everyone who was exposed to Roundup but has not hired a lawyer to bring a tort claim. (There are subclasses for people who already have cancer and those who don’t.) In a simultaneously-filed motion for preliminary approval of the settlement of the new class action, Bayer and plaintiffs lawyers from Lieff Cabraser Heimann & Bernstein, Audet & Partners and The Dugan Law Firm agreed to establish a panel of five scientific experts to decide the threshold questions of whether Roundup can cause cancer and, if so, at what levels of exposure. (For the true class action nerds: The settlement calls for the certification of an issues class to resolve the predominant common question of causation.)

The panel, which Reuters described Wednesday as “a calculated gamble” for Bayer, has at least four years to reach a determination, which is binding on all class members. After the panel’s decision, class members will be free to bring individual tort claims, with the caveat that those threshold causation and exposure questions have already been decided.

In the meantime, Bayer will put up $1.1 billion for diagnostic services for the class and for assistance to class members who develop cancer during the years before the scientific panel’s decision. The proposed settlement features an incredibly elaborate notice program to get the word out to prospective class members, taking into account that the class includes agricultural workers who may not speak English or have permanent residences. Class members have 150 days from the launch of the notice program to opt out of the class. As part of the settlement, future claimants will give up the right to seek punitive damages and medical monitoring fees in individual suits following the scientific panel’s causation decision.

Read more …

The shame of our generation.

New Assange Indictment Only Adds ‘Window Dressing’ to ‘Continue Smear Campaign’ (Sp.)

A US federal grand jury has unveiled a new superseding indictment against WikiLeaks co-founder Julian Assange. However, the filing brings no new charges. A journalist told Sputnik that what Assange does is no different from other reporters and the indictment is an attempt to sour Assange’s name in the media again. “It’s a continuation of the smear campaign against this man, to turn public opinion against him,” Joe Lauria, the editor in chief of Consortium News and author of the book “How I Lost, By Hillary Clinton,” told Radio Sputnik’s Loud and Clear Thursday. “It’s started to turn for him in certain instances recently, so the timing of this is interesting.” Lauria characterized the new accusations as “window dressing,” noting much of the document is simply a recapitulation of the previous charges against Assange.

According to the US Department of Justice’s Wednesday news release announcing the indictment, the new accusations “broaden the scope of the conspiracy surrounding alleged computer intrusions with which Assange was previously charged,” alleging he worked with hacker groups like Anonymous and LulzSec to gain access to classified files that WikiLeaks then published. “This is new: they write negatively about him helping [former NSA analyst-turned-whistleblower Edward] Snowden to get out of Hong Kong and that Assange had booked various other flights for Snowden to provide a diversion, so that he could get out on the one he did,” Lauria noted. “But there’s no charge of ‘aiding a fugitive to get away’ or anything like that, so that’s just thrown in there. We don’t know why.”

“The real essence is, as you say, the details to broaden this first indictment against him, which was for computer intrusion. And, essentially, it says that Assange directed hackers to get material. For example, one example is the recordings of high-level NATO officials, telephone calls that he wanted; also members of parliament of a NATO nation that is apparently Iceland.” Lauria said that to understand if this is a crime or not, he turns to investigative journalist Robert Parry, who founded Consortium News. Lauria noted a piece Parry wrote in 2010, anticipating Washington’s line of attack against Assange, in which he said that what Assange had done was no different than what he did as an investigative reporter, including encouraging sources to give information, and even to commit a small crime in order to prevent a larger one.

“This is key, because here we have in this expanded, superseding indictment, that Assange somehow committed a conspiracy with these hackers to get this information,” Lauria said. “Now, first of all, he’s not being accused of doing the hacking himself; he is accused of encouraging or directing – but not for money, by the way – these hackers to get documents and other materials that he wanted. So maybe two crimes are being committed there: one being the hack, and two, the unauthorized release of information. But Assange is not directly involved, so he’s doing what Bob Parry said he did as a reporter, and that was to get your source to commit a small crime [in order] to prevent a larger one. An example of that is Assange getting from [former US Army analyst Chelsea] Manning the ‘Collateral Murder’ video … the idea being to try to end the illegal war in Iraq,” Lauria told Sputnik.

Read more …

But doctors are not lawyers.

Doctors for Assange: UK Officials May be Legally Culpable for His Torture (CN)

Doctors have warned that UK officials could be held accountable for the torture of Julian Assange in an open letter published in The Lancet on International Day in Support of Victims of Torture. The 216 undersigned physicians and psychologists from 33 countries have accused UK and U.S. government officials of intensifying Julian Assange’s psychological torture in spite of the world’s leading authorities on human rights and international law calling for his immediate release from prison. Clinical Psychologist and Australian co-author of the publication, ‘The ongoing torture and medical neglect of Julian Assange’, Dr Lissa Johnson said the failure to properly treat Mr Assange may amount to an act of torture in which state officials, from parliament to court to prison, risk being judged complicit.

“Our letter is published just two days after the US Department of Justice announced a new superseding indictment against Assange representing yet another escalation in psychological torture tactics,” said Dr Johnson. “Introducing extra charges at this late stage, right before the defence evidence deadline and over a year after the indictment deadline, when documents given to the prison generally take two weeks to be passed on, when he has not been supplied with a computer and when he is unable to meet with lawyers under Coronavirus lockdown, serves to ramp up his helplessness jn the face of threat and is a key psychological torture tactic,” she said.

The doctors note that torture is prohibited under UK law, warning that UK officials could be judged “complicit”, including for their “silent acquiescence and consent”. They write that Assange at medical risk due to escalating abuses of his “fundamental human and legal rights at the hands of judicial, prison, and contracted security authorities”. The letter follows Julian Assange’s failure to attend four court hearings in a row on medical grounds. The authors charge UK and US authorities with “collective persecution and judicial harassment” in which “Mr Assange has been unable to engage in his own defence or even participate in his own hearings.”

A copy of the Lancet letter has been sent to the UK Lord Chancellor and Secretary of State for Justice, Robert Buckland. It coincides with two open letters to Buckland from 36 members of the European Parliament and 11 current and former politicians from 9 nations, calling for Julian Assange’s immediate release on bail in light of Covid-19, which places him “at grave medical risk” given his medical history, including persistent respiratory issues, the doctors warn. In a 60 Minutes Australia interview on Sunday night, Julian Assange’s fiancé, Stella Moris, stressed that Julian Assange is “very unwell”, expressing her fears that he may not survive.

Read more …

 

 

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Jun 162020
 


Gustave Dore Dante and the Angel of the Church before the Door of Purgatory 1868

 

Biden Appears Likely To Pick Kamala Harris As VP (Mcleod)
Gaslighted by the Ruling Class (Chris Hedges)
New Zealand Ends Covid-Free Run With Two Cases From UK (G.)
China Reports 40 New Coronavirus Cases In Mainland, 27 In Beijing (R.)
Virus-Hit Beijing Tightens Outbound Travel; Shanghai Demands Quarantine (R.)
FDA Warns Against Combination Of HCQ And Remdesivir (R.)
FDA Revokes Emergency Use Status For HCQ To Treat COVID19 (R.)
Fed Says It Is Going To Start Buying Individual Corporate Bonds (CNBC)
Fed Launches Long-Awaited Main Street Lending Program (R.)
Hong Kong Chief Says Opponents Of Security Law Are “Enemy Of The People” (R.)
Disorders Now and To Come (Kunstler)
Even At 50% Attendance, It’s An Economic Disaster (Y!)

 

 

First: there will be no Debt Rattle tomorrow, Wednesday June 17, or any other articles, because I’m going to try to fly to Athens. The entire game plan, the conditions etc., has kept on changing all the time, but it looks like it might happen.

What I understand at this point is that I will be tested at the airport upon arrival and then sent to a hotel for the night awaiting test results. Then if I test negative I’m free to go, the 1 week mandatory quarantine was scrapped two days ago. If I test positive there’s a 2 week quarantine. That would probably also apply if anyone else on the plane tests positive.

With all the extra safety measures and stuff at airports and planes, something tells me it’ll be a long day tomorrow.

 

 

Worldometer reports new cases (midnight to midnight GMT+0) at + 124,600.

My count from about 6 am EDT to 6 am EDT is + 124,778 cases.

 

 

 

 

New cases past 24 hours in:

• US + 20,722
• Brazil + 23,674
• Russia + 8,248
• India + 10,243
• Pakistan + 5,248
• Chile + 5,143

 

 

Cases 8,141,389 (+ 124,778 from yesterday’s 8,017,241)

Deaths 439,705 (+ 3,581 from yesterday’s 436,124)

 

 

 

 

I ike the slogan for Yaneer Bar-Yam’s EndCoronavirus.org:

THERE’S NO SENSE IN BEING PRECISE WHEN YOU DON’T EVEN KNOW WHAT YOU’RE TALKING ABOUT.
John von Neumann (1903 – 1957)

 

 

 

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

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

The game plan would be clear enough: Kamala Harris is black and aggressive, tough on crime, and her role will be to stir unrest among African-Americans, get them out on the streets, seen as THE new issue with which to defeat Trump, now that RussiaRussia and impeachment were such abject failures.

But but: Kamala Harris was about the most unpopular candidate running in the Dem prelimiaries, and because of that, one of the first to bow out. How does that not matter?

It sounds convincing though, almost like a done deal: Bookmakers agree, putting Harris’ chances at around 50%. No other candidate [..] has a better than one in ten chance.

Still, reading things like this can’t help to make me think: they don’t really want to win.

Biden Appears Likely To Pick Kamala Harris As VP (Mcleod)

Amid an anti-police movement that has swept the country, the Democratic Party is choosing to run on a “tough on crime” ticket for November. A new Reuters exclusive reports that California senator and former prosecutor Kamala Harris is the clear favorite for the job of vice-president in a Biden White House. Bookmakers agree, putting Harris’ chances at around 50 percent. No other candidate, according to betting analyst Oddsmaker, has a better than one in ten chance. The nationwide protests, sparked by the police killing of George Floyd on May 25, have been increasingly led by Black Lives Matter, and the calls to defund or dismantle the entire policing system are growing louder. In response, more than 30 states mobilized the National Guard to quash the unrest.

A recent poll found that 74 percent of the country, including 87 percent of Democrats, support the protests, with two-thirds backing Black Lives Matter. Despite this, Biden is moving towards choosing a running mate that is most famous in activist circles for her conservative, “lock them up” stance when it comes to crime. As District Attorney of San Francisco, Harris strongly opposed marijuana legalization. Under her jurisdiction, arrests and convictions for the drug increased, as did the percentage of black people arrested for its possession. Yet during her unsuccessful run for the Democratic nomination last year, she laughed and joked about illegally using marijuana herself.

During the Democratic debates, she was also accused by Hawaii Congresswoman Tulsi Gabbard of blocking evidence that would have freed an innocent man from a death sentence. Harris was also a vocal supporter of the controversial three strikes law that sent repeat offenders to prison for life. When running for Attorney General, her position was to the right of her Republican opponent. Nevertheless, many in the business world appear very excited about the potential pick. “She understands the moment,” claimed Marc Lasry, Chairman of the Avenue Capital Group and a member of Biden’s national finance committee, “They want someone who will galvanize people. She seems to be that person.”

It seems unlikely, however, that either Biden or Harris will galvanize protestors demanding racial justice. Biden’s 1994 Crime Bill imposed the three strikes rule, leading to a great increase in the number of people in prison. Between 1994 and 1998, the total number of people in U.S. prisons rose by 19 percent and continued climbing for a decade longer. Biden himself began his political career by opposing racial desegregation and bussing, something that Harris grilled him on in the Democratic debates. “There was a little girl in California who was part of the second class to integrate her public schools and she was bused to school every day. That little girl was me,” she said directly to him.

Read more …

The rulinng class in this case is Joe Biden.

Gaslighted by the Ruling Class (Chris Hedges)

In 1994, then Senator Biden pushed through the Violent Crime and Law Enforcement Act. It was supported by the Congressional Black Caucus, evidence of the growing disconnect between black political elites and those they should protect. The caucus has, in the face of the current crisis, once again called for the tired and toothless reforms that got us into this mess. “Black elected officials have become adept at mobilizing the tropes of Black identity without any of its political content,” notes Keeanga-Yamahtta Taylor in the New York Times.

The bill authorized $30.2 billion over six years for police and prisons. Biden boasted that he “added back into the Federal statutes over 50 death penalties — 50 circumstances in which, if a person is convicted of a crime at a Federal level, they are eligible for the death penalty.” The bill, he bragged, authorized “over 70 increased — 70, seven zero — 70 increased penalties in new offenses covering violent crimes, drug trafficking, and gun crimes.” It also established the Community Oriented Policing Services or COPS Program that has handed more than $14 billion to state and local governments, most of the money used to hire more police. COPS also provided $1 billion to place police in schools, accelerating the criminalization of children.

The 1994 bill more than doubled the prison population. The United States now has 25 percent of the world’s prison population, although we are 4 percent of the world’s population. Half of the 2.3 million people in our prisons have never been charged with physically harming another person and 94 percent never had a jury trial, coerced to plea out in our dysfunctional judicial system. Biden proudly said in 1994 he represented a new Democratic Party that was tough on law and order.

“Let me define the liberal wing of the Democratic Party,” he said at the time. “The liberal wing of the Democratic Party is now for 60 new death penalties. That is what is in this bill. The liberal wing of the Democratic Party has 70 enhanced penalties, and my friend from California, Senator Diane Feinstein, outlined every one of them. I gave her a list today. She asked what is in there to every one of them. The liberal wing of the Democratic Party is for 100,000 cops. The liberal wing of the democratic Party is for 125,000 new State prison cells.” There is only one way to defeat these forces of occupation and the ruling elites they protect. It is not through voting. It will come from the streets, where tens of thousands of courageous men and women, facing arrest, indiscriminate police violence, economic despair and the threat of Covid-19, are fighting for not only an end to racism, but freedom.

Read more …

No cases for 24 days. Then they allow two UK women in for compassionate reasons. These women then go into a 2-week Isolation but remain untested for 9 days, until one of them gets sick.

Gov’t comment: “The women had “done everything right”. I’m starting to think New Zealand’s success story was based on pure luck.

New Zealand Ends Covid-Free Run With Two Cases From UK (G.)

New Zealand has recorded its first new cases of coronavirus for 24 days after two women who arrived in the country from Britain were found to be infected. The pair were released early from government quarantine and permitted to drive from the city of Auckland to Wellington, the capital – nearly 650km away – before being diagnosed, health officials said. Their trip was an approved exemption from the mandatory isolation period for new arrivals to the country in order to visit a dying parent. The women had “done everything right” and had not put other members of the public at risk, said Ashley Bloomfield, New Zealand’s director-general of health, on Tuesday.

After both women tested positive for Covid-19 on Monday, one reported that in hindsight she had been experiencing symptoms, but had attributed them to a pre-existing medical condition. The pair marked New Zealand’s first new cases of Covid-19 for more than three weeks, and were diagnosed one week after the last known case in the country had recovered. The discovery of the new cases came one week after all domestic restrictions on the country were lifted, with Bloomfield warning at the time that more cases of the virus would inevitably arise as people infected with it crossed the border. The women – one aged in her 30s and the other in her 40s – had arrived in Auckland on a flight from the UK via Brisbane, Australia, on 7 June, Bloomfield said.

All new arrivals to the country – only New Zealanders, their families, and essential workers are currently permitted to cross the border – are required to spend two weeks in managed isolation at a hotel. But six days after the women arrived, Bloomfield said they travelled from Auckland to Wellington “in a private vehicle” after they were granted a compassionate exemption to do so and made a safety plan with officials. They had not been tested for Covid-19 at the time. The pair had made the drive of approximately eight hours without refuelling their vehicle or disembarking for any reason, including to use public toilets, he said. “They had no contact with anybody else during that trip,” added Bloomfield. He was “not nervous” that the women had infected anyone else, adding that they would now remain in self-isolation with a relative in Wellington.

Read more …

Given how fast it spread in the past 2-3 days, it’s obvious the disease had been present for a 1 or 2 weeks.

China Reports 40 New Coronavirus Cases In Mainland, 27 In Beijing (R.)

Mainland China reported 40 new confirmed coronavirus cases for June 15, down from 49 a day earlier, the National Health Authority said on Monday. Twenty seven of the new cases were in Beijing, down from 36 a day earlier. The city is facing a new outbreak of the virus that is believed to have originated in a local grocery market. The NHC reported 8 new imported coronavirus cases in mainland China as of the end of June 15, down from 10 a day earlier. The commission also reported 6 new asymptomatic cases, down from 18 a day earlier. The total number of coronavirus cases in mainland China now stands at 83,221, and the death toll remains unchanged at 4,634. China does not count asymptomatic patients, who are infected with the virus but do not display symptoms, as confirmed cases.

Read more …

1 outbreak, 106 cases and counting.

Virus-Hit Beijing Tightens Outbound Travel; Shanghai Demands Quarantine (R.)

Beijing banned high-risk people from leaving the Chinese capital and halted some transportation services on Tuesday to stop the spread of a fresh coronavirus outbreak to other cities and provinces. China’s financial hub of Shanghai demanded some travellers from Beijing be quarantined for two weeks, as 27 new COVID-19 cases took the capital’s current outbreak to 106 since Thursday. That makes it the most serious flare-up in China since February, stoking fears of a second wave of the respiratory disease which emerged in the central city of Wuhan late last year and has now infected more than 8 million people worldwide. “Beijing will take the most resolute, decisive, and strict measures to contain the outbreak,” Xu Hejian, spokesman at the Beijing city government, said at a press conference on Tuesday.


The outbreak has been traced to the sprawling Xinfadi wholesale food centre in the southwest of Beijing where thousands of tonnes of vegetables, fruits and meat change hands each day. Beijing had designated 22 neighbourhoods as medium-risk areas as of Monday. Medium-risk areas are required to take stringent measures to block the potential entry of infection. All high-risk groups in Beijing, such as people who are close contacts of confirmed cases, are not allowed to leave the city, state media reported on Tuesday, citing municipal officials. All outbound taxi and car-hailing services have also been suspended. Some long-distance bus routes between Beijing and nearby Hebei and Shandong provinces were suspended.

Read more …

A non-clinical study that showed no evidence. It’s becoming a familiar theme.

FDA Warns Against Combination Of HCQ And Remdesivir (R.)

The U.S. Food and Drug Administration on Monday issued a warning to healthcare providers against administering malaria drug hydroxychloroquine or chloroquine in combination with Gilead Sciences’ experimental COVID-19 drug, remdesivir. The agency, based on data from a recent non-clinical study, said the co-administration may result in reduced antiviral activity of remdesivir. It also added it had no such evidence from a clinical setting and that it continues to evaluate all data related to remdesivir.


The warning comes hours after the agency revoked the emergency use authorization of hydroxychloroquine to treat COVID-19, which has been touted by the U.S. President Donald Trump. FDA said it was no longer reasonable to believe that oral formulations of hydroxychloroquine and chloroquine may be effective in treating the illness caused by the novel coronavirus. Gilead’s drug had received emergency use authorization earlier in May as a potential treatment for COVID-19, clearing the way for broader use of the drug in more hospitals around the United States.

Read more …

We get not a word about zinc.

But we do get a rehash of France, Italy and Belgium halting HCQ use, without mentioning that they did so based on a fully discredited piece in the Lancet, which itself has issued apologies for it.

FDA Revokes Emergency Use Status For HCQ To Treat COVID19 (R.)

The U.S. Food and Drug Administration on Monday revoked its emergency use authorization for hydroxychloroquine to treat COVID-19, but quickly came under fire from President Donald Trump, who said only U.S. agencies have failed to grasp its benefit in fighting the coronavirus. Based on new evidence, the FDA said it was no longer reasonable to believe that hydroxychloroquine and the related drug chloroquine may be effective in treating the illness caused by the novel coronavirus. The FDA also warned that the drugs have been shown in lab studies to interfere with Gilead Sciences Inc’s antiviral drug remdesivir – the only medicine so far to show a benefit against COVID-19 in formal clinical trials.


The move comes after several studies of the decades-old malaria pills suggested they were not effective either as a treatment for or to prevent COVID-19. [..] Current U.S. government treatment guidelines do not recommend its use for COVID-19 patients outside of a clinical trial. France, Italy and Belgium late last month halted use of hydroxychloroquine for COVID-19 patients. But the United States last month sent 2 million doses to Brazil, which has emerged as the pandemic’s latest epicenter. Hundreds of trials testing hydroxychloroquine or chloroquine as interventions for COVID-19 are still underway, including a U.S. study designed to show whether hydroxychloroquine in combination with azithromycin can prevent hospitalization and death from COVID-19.

Read more …

Call it what you want: nationalization, socialism, communism.

Or simply: the strongest attempt to kill off price discovery so far.

Fed Says It Is Going To Start Buying Individual Corporate Bonds (CNBC)

The Federal Reserve is expanding its foray into corporate credit to now buy individual corporate bonds, on top of the exchange-traded funds it already is purchasing, the central bank announced Monday. As part of a continuing effort to support market functioning and ease credit conditions, the Fed added functions to its Secondary Market Corporate Credit Facility. The program has the ability to buy up to $750 billion worth of corporate credit. Its March 23 initial announcement is largely considered a watershed moment for the financial markets, reeling from the coronavirus threat spread. “The decision to buy a broad portfolio of corporate bonds represents a shift to a more active strategy for the secondary market corporate credit facility, rather than the passive approach originally envisioned,” said Steven Friedman, senior macroeconomist at MacKay Shields.

The move comes less than a week after a downbeat Federal Open Market Committee view of the U.S. economy in the wake of the coronavirus pandemic. Moving to a more aggressive bond-buying strategy “may also reflect the Committee’s view that the economic recovery from the ongoing COVID-19 crisis will be an extended and challenging one, with credit markets requiring extensive support,” Friedman added. Under the latest guidelines, the Fed said it will buy, on the secondary market, individual bonds that have remaining maturities of five years or less. Those purchases will go along with the ETFs the Fed already has been buying, which are balanced toward investment-grade indexes but also include some junk bond funds that track debt which had been investment grade before the crisis but had been downgraded after.

The intent of the individual debt purchases will be “to create a corporate bond portfolio that is based on a broad, diversified market index of U.S. corporate bonds,” the Fed said in a news release. “This index is made up of all the bonds in the secondary market that have been issued by U.S. companies that satisfy the facility’s minimum rating, maximum maturity, and other criteria. This indexing approach will complement the facility’s current purchases of exchange-traded funds,” the statement said.

Read more …

The Fed doesn’t help Main Street. It simply sees an opportunity to help banks make more money at the expense of Main Street under the guise of a beneficial narrative.

Fed Launches Long-Awaited Main Street Lending Program (R.)

The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic. The program, targeted at companies that were in good shape before the pandemic but may now need financing to retain workers and fund operations, will offer up to $600 billion in loans through participating financial institutions to U.S. businesses with up to 15,000 employees or with revenues up to $5 billion. Lenders must register using the lender portal here and are encouraged by the Fed to begin making program loans to for-profit firms “immediately.”

The central bank also sought feedback on Monday on a proposal to expand the program to allow nonprofit organizations to borrow under the program as well. Administered by the Boston Fed, the Main Street program for businesses aims to offer credit for those that may be too large to qualify for the Paycheck Protection Program, which targets businesses with fewer than 500 employees. Unlike the PPP, which was established by Congress in late March and offers loans that can be converted to grants if businesses meet certain requirements, the loans offered under the Fed program must be repaid.

It has taken nearly three months for the Fed to design, build and launch a program to extend credit to companies in all walks of the economy, a huge departure from its role as a lender to the banking sector. Fed officials adjusted the Main Street program twice by expanding the range of loan sizes to make it available to more companies that need help keeping workers on staff. It also extended the loans to five years, with payments deferred for the first two years, to better help businesses struggling because of the crisis. “Supporting small and mid-sized businesses so they are ready to reopen and rehire workers will help foster a broad-based economic recovery,” Fed Chair Jerome Powell said in a statement last week after the most recent adjustment.

Read more …

A.k.a. deplorables.

Hong Kong Chief Says Opponents Of Security Law Are “Enemy Of The People” (R.)

Hong Kong leader Carrie Lam on Tuesday urged opponents of Beijing’s plan to impose national security legislation in the financial hub to stop “smearing” the effort, saying those who did were “the enemy of the people”. Beijing last month announced a plan to introduce legislation in Hong Kong to tackle secession, subversion, terrorism and foreign interference and which could see Chinese security agencies set up bases in the city. Critics see the law as the most serious threat to a “one country, two systems” formula, agreed when the former British colony returned to Chinese rule in 1997, aimed at ensuring its freedoms and role as a global financial centre.

The Chinese government and Lam’ s Beijing-backed city administration say the law will not curtail freedoms but will target a small number of “troublemakers” and help bring stability after a year of anti-government protests. “I urge opponents who still use the usual tactics to demonize and smear the work to stop because by doing this they become the enemy of the Hong Kong people,” Lam said before a cabinet meeting, referring to the legislation. “The vast majority want to restore stability, and have safety, satisfaction and employment.” The government has mounted a campaign to rally public support for the legislation, with billboards, a booklet with questions and answers and a video of Lam defending the law “in the public interest”.

In the video, posted on the city government’s website, Lam decried a “terrorist threat” against a “traumatized” city, saying advocates of independence were “colluding with foreign forces” and undermining security. “Hong Kong has become a gaping hole in national security, and our city’s prosperity and stability are at risk,” said Lam as she stood flanked by the Chinese and Hong Kong flags, the first bigger than the second.

Read more …

“Have Chuck Schumer and Nancy Pelosi appealed to their followers to end their violence? Maybe I missed that.”

Disorders Now and To Come (Kunstler)

Never in US history has there been a faction as dishonest as today’s Democratic Party or as habituated to the application of bad faith in political conflict. Their addiction to malicious hoaxes and engineered untruths knows no limits — and naturally so, since they are motivated primarily by dissolving all boundaries in policy, law, sexual relations, and personal conduct. They’ve been busy proving the past few weeks that they’re against the social contract as a basic proposition, exhorting for an end to law enforcement while inciting street violence, crimes against property, and murder.

Many voters are onto them, of course, so the Resistance is also determined to derail the 2020 elections by any means necessary, only starting with ballot fraud but surely escalating to new, innovative chicanes and disruptions. Their chosen candidate for president — that is, their putative “leader” — is an obvious empty vessel fronting for sinister forces in the background. They stuffed Joe Biden in a basement twelve weeks ago and have no intention of setting him loose on the landscape where he would reveal his unfitness with every breath he takes and every move he makes. The news media especially, in its bad faith role, pretends not to notice, but its minions are too self-important to realize that there are other ways for citizens to learn what is happening out there.

Events are rushing ahead at a pace you can barely follow. Summer begins in another week and why, now, would you expect any lessening in civil disorders? A heat wave is upon us here in the crowded eastern US at the end of this week and that’s always an invitation to raucous behavior on the steamy streets. Have Chuck Schumer and Nancy Pelosi appealed to their followers to end their violence? Maybe I missed that. They are hinting at a return to Covid-19 lockdown conditions — but you can forget about anyone following that when the temperature tops ninety degrees (and certainly the Dem leadership knows that).

The devastation of small business, careers, livelihoods, households, and futures continues. Take measures to protect your own future, as far as possible. Put your energy into imagining how you can be helpful to other people, and perhaps incidentally earn their trust and their assistance in mutually beneficial ways. Think about finding a plausible place to live where the rule of law perseveres. Think about how you might fit into an economy run at a smaller scale. Start taking action on that thinking. There’s potential for a lot of people to get hurt in the disorders-to-come. There’s plenty you can do to not be one of them.

Read more …

The problem with all mass events.

Even At 50% Attendance, It’s An Economic Disaster (Y!)

College football is twelve Saturdays away. It may be hard to believe amid the ongoing coronavirus pandemic, but Division I colleges and universities across the country began to bring their football players back to campus for workouts this month. Now a number of schools have reported that some of their players tested positive for COVID-19: Auburn had three players test positive; University of Central Florida had three; Oklahoma State had five; Arkansas State had seven. That won’t stop the season from happening. The general attitude from schools is that the players who tested positive will self-isolate for two weeks, and the show will go on. The show must go on, because the money demands it.


“We are going to play football in the fall,” said the 76-year-old West Virginia University president Gordon Gee, “even if I have to suit up.” Gee said that a month ago, when the return of college football was still in question, since some universities were hesitant to commit to having classes in the fall. The California State University system, which includes football schools like San Diego State and Fresno State, announced it would start the fall with mostly online-only classes. The thinking at that time was that schools couldn’t have college football players come back if they didn’t have the rest of their students back on campus. There were also fears that the college football season might get pushed to spring 2021, which would mean NFL-bound stars like Clemson quarterback Trevor Lawrence or Ohio State quarterback Justin Fields would almost surely opt not to play.

Read more …

 

 

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Jun 122020
 


Gustave Dore Dante looks upon the negligent rulers 1868

 

Here’s What Caused The Worst Stock Market Sell-Off Since March (F.)
Trump Admin. Won’t Disclose Corporate Recipients of $500 Billion Bailout (CD)
The Real Economic Catastrophe Hasn’t Hit Yet. Just Wait For August (BF)
UK Economy Suffers Record Slump With GDP Plunging By 20.4% (Sky)
BA, easyJet and Ryanair Begin Court Action Over UK Quarantine Rules (G.)
US Virus Hotspots Reopen Despite Second Wave Specter (R.)
Trump Campaign Rally Signup Form Includes COVID19 Warning/Disclaimer (JTN)
Retired Generals Who Denounced Trump Could Be Recalled, Prosecuted (JTN)
Twitter Deletes Over 170,000 Accounts Tied To Chinese Propaganda (Hill)
US Intel Bulletin Says ‘Malign Actors’ Target US Over Protest Fallout (ABC)
Obama Retread Sees Moscow’s Hand in Protests (Giraldi)
Flynn’s Lawyers Say Judge ‘Exceeded His Power’ In Not Dismissing Case (JTN)
Flynn Case: 85 Lies, Contradictions, Oddities, and Unusual Occurrences (ET)

 

 

Worldometer reports new cases for June 9 (midnight to midnight GMT+0) at + 136,757. Another new record.

My count from about 6 am EDT to 6 am EDT is + 139,460 cases.

 

 

 

 

New cases past 24 hours in:

• US + 23,300
• Brazil + 39,928
• Russia + 8,987
• India + 11,128
• Pakistan + 6.397
• Mexico + 4,.790

 

 

Cases 7,622,021 (+ 139,460 from yesterday’s 7,482,561)

Deaths 424,325 (+ 4,837 from yesterday’s 419,488)

 

 

 

 

 

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

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

“Fed chair Powell yesterday really reminded investors that there’s a huge, huge gap between the economic reality and the market reality..”

He should know, because he’s created that gap. It’s dead simple: there is no stock market left, only something that looks like it.

To have a market, you need price discovery. Jay Powell makes sure there isn’t any, because everyone’s afraid of what price discovery would do.

The entire financial world fears honesty and truth, and the Fed makes sure these are gone.

Here’s What Caused The Worst Stock Market Sell-Off Since March (F.)

The Dow Jones Industrial Average fell 6.9%, nearly 1,900 points, in its worst single-day drop since the coronavirus sell-off in March. The S&P 500, which fell 5.9%, also had its worst day since March. Stocks plunged on rising concerns about a second wave of coronavirus infections: Many states that loosened lockdown restrictions saw a spike in new cases. Texas and Florida, for example, were among some of the first states to reopen, and they are now reporting record numbers of hospitalizations. A total of 21 states reported an increase in new cases last week, according to a Reuters analysis. Thursday’s sell-off follows the Federal Reserve’s grim update on the economy:


A day earlier, the Central Bank forecasted a long recovery, with unemployment set to remain high for years and interest rates staying near zero until at least 2022. “Fed chair Powell yesterday really reminded investors that there’s a huge, huge gap between the economic reality and the market reality,” Tom Essaye, founder of the Sevens Report, told CNBC. “Just that reminder combined with a lot of the second wave headlines prompted an opportunity to take profits… stocks can’t go up forever.” Expectations for a quick economic recovery are dwindling: Investors are now dumping stocks that would benefit from a reopening—including airlines, retailers and cruise operators—after they led the market rally over the past month.

Wall Street traders are instead rotating back into stay-at-home stocks, such as Netflix and Zoom, as well as big tech companies like Apple, Amazon, Microsoft and Google-parent Alphabet. The stock market’s fear gauge, the CBOE Volatility Index, skyrocketed over 47% on Thursday, breaking above the 40 threshold for the first time in over a month. “The REAL reasons stocks are down doesn’t have much to do with fundamentals – the tape had become GROSSLY overbought (with valuations hitting multi-decade, unsustainable highs),” according to Adam Crisafulli, founder of Vital Knowledge. “A lot of reluctant buyers were sucked in off the sidelines these last few weeks, creating a giant downside air pocket that’s now being filled.”

BIG NUMBER: MORE THAN 44 MILLION. That’s how many people have filed for unemployment over the last three months, as the coronavirus pandemic forced businesses to shut down on an unprecedented scale. Jobless claims fell for the tenth week in a row on Thursday, with 1.5 million more Americans filing for unemployment during the week ending June 6. While that number continues to decline, millions are still unemployed and the job market’s recovery is expected to take years. TANGENT “We can’t shut down the economy again,” Treasury Secretary Steven Mnuchin told CNBC on Thursday morning. “I think we’ve learned that if you shut down the economy, you’re going to create more damage,” he warned.

Both the S&P 500 and Dow are still up more than 40% from their coronavirus low point on March 23. Federal Reserve chairman Jerome Powell reiterated at his press conference on Wednesday that while “there is great uncertainty about the future,” the Central Bank is strongly committed to doing “whatever we can, for as long as it takes” to help support the economy.

Read more …

Fits perfectly in the climate the Fed has created.

Trump Admin. Won’t Disclose Corporate Recipients of $500 Billion Bailout (CD)

Progressive critics and advocacy groups are responding with alarm and anger to the Trump administration’s refusal to disclose the names of more than 4.5 million companies that have collectively received over $500 billion in corporate bailout money through a federal program created to provide businesses with relief from the coronavirus pandemic. The over $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act signed by President Donald Trump in March established the Paycheck Protection Program (PPP) with $349 billion in funding for forgivable loans. After the initial capital ran out in just 13 days, lawmakers approved $310 billion more—though over $130 billion of that amount was still left as of Tuesday.


Although, as the Washington Post reported, the Small Business Administration (SBA) “typically discloses names of borrowers from the loan program” on which the PPP is based, Treasury Secretary Steven Mnuchin testified to the Senate Committee on Small Business and Entrepreneurship that he won’t be following that model for the Covid-19 program, despite concerns about which companies are benefiting from it. As Mnuchin told the Senate committee Wednesday: “We believe that that’s proprietary information, and in many cases for sole proprietors and small businesses, it is confidential information.” The secretary’s comments provoked a barrage of condemnation, particularly among individuals and groups that had previously expressed concern about the PPP.

Read more …

Getting poorer as your income rises.

The Real Economic Catastrophe Hasn’t Hit Yet. Just Wait For August (BF)

More than 40 million people lost their jobs in the last few months, in the fastest and deepest economic slowdown ever recorded. More than half of all households with low incomes in the United States have experienced a loss of earnings, as have a quarter of all adults. The numbers are grim — but as bad as things look today, they’re on track to get much, much worse. The US economy right now is like a jumbo jet that’s in a steady glide after both its engines flamed out. In about six weeks, it will likely crash into the side of a mountain. What’s kept us in the air so far is an extraordinary government relief effort. In most states, evictions have been temporarily banned, preventing a mass homelessness crisis.


Most federal student loan payments have been put on hold, removing one of the largest recurring monthly expenses that millions of people face. Banks were ordered to give their customers a six-month break on mortgage payments if requested. Most importantly, and counterintuitively, household income sharply increased in April as hundreds of billions of dollars in lost wages were replaced by trillions in government spending. The government sent out more than 159 million stimulus payments of up to $1,200 per adult (more if you have kids), and more than 20 million unemployed people became eligible for an extra $600 a week in federal unemployment benefits. The result, according to Bloomberg, was the largest monthly increase in household income ever recorded.

This happened in April, when there were far fewer things to spend your money on; shops and restaurants were closed, nobody went to the ball game or took the kids to a theme park, and a shaggy nation longed for a haircut. Meanwhile, the prospect of a massive economic crash meant that Americans who were still on the job were more likely to tuck money away that they might otherwise have spent. So the national savings rate — the share of people’s income that is saved rather than spent — hit 33%, according to the US Bureau of Economic Analysis, also the highest level ever recorded. In the same month that we reached the worst mass unemployment in living memory, Americans saved a total of $6.15 trillion — up by $4 trillion from the month prior.

Read more …

What’s worse for the UK is this is not the worst. They have allowed the virus to be everywhere.

UK Economy Suffers Record Slump With GDP Plunging By 20.4% (Sky)

Britain’s economy suffered a record collapse during April’s coronavirus lockdown with GDP plunging by 20.4%, the Office for National Statistics said. The fall is the biggest the UK has ever seen – worse than anything during the financial crash – and underlines the damage inflicted by the COVID-19 pandemic, which saw many businesses shut down in a bid to curb the spread of infection. The economy was around 25% smaller in April than it was in February, bringing the threat of mass job losses. Reacting to the figures, health minister Edward Argar told Sky News the drop was “clearly a significant contraction” but was “not unexpected” given the coronavirus crisis.


Widespread contractions across the economy contributed to the fall in GDP. In the three months to April, the ONS data shows that accommodation and food services plummeted by 40.1%, with the closure of hotels, bars and restaurants throughout March and April. Manufacturing and construction also saw significant falls of 10.5% and 18.2% respectively. The ONS will not reveal what happened to the economy in May until next month, but it is likely to show another dramatic drop, as it covers the a period before restrictions started to ease in some parts of the economy. Chancellor Rishi Sunak said: “In line with many other economies around the world, coronavirus is having a severe impact on our economy.

Jonathan Athow, deputy national statistician for economic statistics, said: “April’s fall in GDP is the biggest the UK has ever seen, more than three times larger than last month and almost 10 times larger than the steepest pre-COVID-19 fall. “In April, the economy was around 25% smaller than in February. “Virtually all areas of the economy were hit, with pubs, education, health and car sales all giving the biggest contributions to this historic fall. “Manufacturing and construction also saw significant falls, with manufacture of cars and housebuilding particularly badly affected. “The UK’s trade with the rest of the world was also badly affected by the pandemic, with large falls in both the import and export of cars, fuels, works of art and clothing.”

Read more …

It’s too late anyway. But is going back to “normal” a good idea?

BA, easyJet and Ryanair Begin Court Action Over UK Quarantine Rules (G.)

Britain’s three biggest airlines have filed papers in the high court to seek an urgent judicial review of the government’s quarantine laws, which they say are having a devastating effect on tourism and the wider economy. British Airways, easyJet and Ryanair say the rules, which came into effect on Monday and require passengers arriving from abroad to self-isolate at a single address for 14 days, are flawed and will cost thousands of jobs. The airlines sent a letter to the government last week to start their legal challenge, and court proceedings are now in train. The airlines have requested a hearing as soon as possible.

Despite reports of private briefings that “air bridges” allowing travel between the UK and some other European countries could be established by the end of the month, the three airlines say they have not yet seen any evidence of how and when they would be implemented. Instead, they are urging the government to revisit a policy briefly introduced in March that targeted passengers entering from “high-risk” countries for quarantine. They said: “This would be the most practical and effective solution and enables civil servants to focus on other, more significant issues arising from the pandemic while bringing the UK in line with much of Europe which is opening its borders mid-June.”

The airlines’ chief executives have been outspoken in their criticism of the rules. Willie Walsh, the boss of BA’s parent company IAG, has described them as “irrational and disproportionate”, while Ryanair’s Michael O’Leary has said they are “nonsense”. In the legal filing, the airlines argue that the rules are more stringent than those applied to people who have Covid-19 and leave their home, that there was no consultation on the policy and no scientific evidence provided to support it, that exemptions for commuters undermine the policy, and that the government is seeking to ban travel to and from countries with lower infection rates than the UK.

Read more …

Some of the numbers get scary.

US Virus Hotspots Reopen Despite Second Wave Specter (R.)

The moves by governors of states such as Florida and Arizona came as Treasury Secretary Steven Mnuchin said the United States could not afford to let the novel coronavirus shut its economy again and global stocks tanked on worries of a pandemic resurgence. As Florida reported its highest daily tally of new coronavirus cases on Thursday, Governor Ron DeSantis unveiled a plan to restart public schools at “full capacity” in the autumn, arguing the state’s economy depended on it. North Carolina reported record COVID-19 hospitalizations for a fifth straight day on Thursday, a day after legislators passed a bill to reopen gyms, fitness centers and bars in a state where more than one in ten workers are unemployed.

Governors of hotspot states face pressure to fire up economies facing fiscal year 2021 budget shortfalls of up to 30% below pre-pandemic projections in the case of New Mexico, according to data from the Center on Budget and Policy Priorities think tank. Nevada, which has seen cases increase by nearly a third in the past two weeks, is suffering 28% unemployment, based on U.S Bureau of Labor statistics. “This is about saving lives, this is also about livelihoods in the state of Arizona,” Governor Doug Ducey told a news briefing, adding that a second shutdown of the economy was “not under discussion” despite official figures showing a 211% rise in virus cases over the past 14 days. About half a dozen states including Texas and Arizona are grappling with rising numbers of coronavirus patients filling hospital beds.

[..] A second wave of coronavirus deaths is expected to begin in the United States in September, the Institute for Health Metrics and Evaluation said on Thursday, citing a surge in mobility since April. Its latest model projects 170,000 deaths by Oct. 1, with a possible range between 133,000 and 290,000. A note of caution came from Utah, where Governor Gary Herbert said most of the state would pause its reopening after a 126% rise in cases over the past two weeks. Austin, Texas on Thursday also said it would likely extend stay-at-home and mask orders past June 15 after the state reported its highest new case count the previous day. Austin health officials blamed a record week of infections on easing business restrictions and Memorial Day gatherings.

Read more …

Coming to a theater, sports arena etc, near you.

Trump Campaign Rally Signup Form Includes COVID19 Warning/Disclaimer (JTN)

President Trump is slated to hold a campaign rally in Tulsa, Okla., on June 19, but people who sign up for tickets will encounter a warning about possible exposure to coronavirus. “By clicking register below, you are acknowledging that an inherent risk of exposure to COVID-19 exists in any public place where people are present,” the warning says. “By attending the Rally, you and any guests voluntarily assume all risks related to exposure to COVID-19 and agree not to hold Donald J. Trump for President, Inc.; BOK Center; ASM Global; or any of their affiliates, directors, officers, employees, agents, contractors, or volunteers liable for any illness or injury,” the note declares.


The event will be the the president’s first campaign rally in some time. Areas around the nation are emerging from coronavirus-related lockdowns and restrictions, and large protests have sprung up around the country in the wake of the May 25 death of George Floyd in Minnesota. The Associated Press reports that many states have seen an uptick in COVID-19 cases.

Read more …

They appear convinced Trump will lose, and want to get out of the way.

Retired Generals Who Denounced Trump Could Be Recalled, Prosecuted (JTN)

Retired four-star military officers who lambasted President Trump could be recalled to active duty and prosecuted for violating the U.S. Code, military law experts told Just the News. “Retired officers can’t make contemptuous remarks of the commander-in-chief,” said John Dowd, a former Marine Corps Judge Advocate and former Trump legal advisor. “They’re all subject to recall. They’re subject to the Uniform Code of Military Justice until they die.” The pertinent law is Title 10 of the U.S. Code, Section 888, the experts said. “As part of the UCMJ, governing military law, you cannot use contemptuous words against certain officials, including the president,” one active duty Army Judge Advocate General Corps officer said. “That is a court-martial offense, and yes, you can be recalled to active duty to be court-martialed.”

The outspoken retired officers know they could be held to account, the JAG officer said. “I don’t know who the hell they think they are,” Dowd said. “It’s stunning to me. I guess the law doesn’t apply to them.” The retired officers comprise some of the biggest marquee military names in recent times. They include former Defense Secretary Gen. James Mattis and former Special Operations Command chief Adm. William McRaven. With increasing frequency over the past couple years, and in quick succession over the past week, they have leveled serious accusations against Trump, and have called for him to be removed from office. In late 2019, McRaven published a New York Times op-ed titled “Our Republic Is Under Attack From the President,” and later told CNN interviewer Jake Tapper that Trump is working to destroy the country.

On June 7, former Chairman of the Joint Chiefs of Staff Gen. Colin Powell — also speaking to CNN’s Tapper — said that Trump has “drifted away” from the U.S. Constitution. Elsewhere, Powell said Trump “lies all the time,” and called him a “menace.” Retired Lt. Gen. John Allen, who commanded U.S. forces in Afghanistan, said in an interview that the Constitution is under threat — not from violent anarchists, but from the president of the United States. Retired Gen. Barry McCaffrey, who led U.S. Southern Command and served in Bill Clinton’s cabinet, denounced Trump as a threat to national security. Former Chairman of the Joint Chiefs, Adm. Mike Mullen — who in 2012 surrendered his computers to the FBI in the course of a cybersecurity investigation — accused Trump of giving succor to foreign detractors.

Read more …

I guess it gets ever easier to confuse me. The 170,000 accounts “had tweeted almost 350,000 times before being shut down.” That’s barely 2 tweets per account. How does one influence anything that way?

If the “[25,000 accounts that formed what Twitter described as the “core network]” tweeted more often than 2x, scores of the accounts must have never tweeted. Hardly effective.

At the same time, the 1,000 “Russian” accounts and 7,000 Turkish ones tweeted 40 million times. How then is this a story about China? Remind me what rats smell like.

Twitter Deletes Over 170,000 Accounts Tied To Chinese Propaganda (Hill)

Twitter announced Thursday that it had deleted more than 170,000 accounts tied to a Chinese state-linked operation that were spreading deceptive information around the COVID-19 virus, political dynamics in Hong Kong, and other issues. Almost 25,000 of the accounts that were deleted formed what Twitter described as the “core network,” while around 150,000 accounts were amplifying messages from the core groups. “In general, this entire network was involved in a range of manipulative and coordinated activities,” the company wrote in a blog post. “They were Tweeting predominantly in Chinese languages and spreading geopolitical narratives favorable to the Communist Party of China (CCP), while continuing to push deceptive narratives about the political dynamics in Hong Kong.”

Twitter noted that the accounts taken down this week were tied to a Chinese state-backed operation last year that attempted to sow political discord in Hong Kong. Those accounts were also taken down. According to an analysis of the accounts by the Stanford Internet Observatory (SIO), many of the accounts shut down were tweeting about the COVID-19 pandemic, with activity around this issue beginning in late January and reaching its peak in late March. The accounts primarily praised China’s response to the COVID-19 crisis. While most of the accounts had less than 10 followers and no bios, the SIO found that they had tweeted almost 350,000 times before being shut down.

“Narratives around COVID-19 primarily praise China’s response to the virus, and occasionally contrast China’s response against that of the U.S. government or Taiwan’s response, or use the presence of the virus as a means to attack Hong Kong activists,” the SIO wrote in its analysis. “The English-language content included pointed reiterations of the claim that China – not Taiwan – had a superior response to containing coronavirus.”

Twitter on Thursday also shut down thousands of accounts tied to Russian and Turkish state-linked misinformation efforts. The over 1,000 Russian accounts removed were tied to state-backed political propaganda within Russia, while the over 7,300 Turkish accounts removed were primarily spreading information favorable to Turkish President Recep Tayyip Erdogan and his political party. While the amount of Russian and Turkish-linked accounts was less than those tied to China, the Russian and Turkish accounts were found by the SIO to have tweeted a combined almost 40 million times before Twitter took action.

Read more …

What can they do without RussiaRussia? It’s their lifeblood.

US Intel Bulletin Says ‘Malign Actors’ Target US Over Protest Fallout (ABC)

As protesters hit the streets in cities across the country, America’s foreign adversaries have flooded social media with content meant to sow division and discord in the wake of George Floyd’s death, according to a U.S. government intelligence bulletin obtained by ABC News. The bulletin, distributed Tuesday to law enforcement by the Department of Homeland Security (DHS), accuses Russia, China and Iran of “employing state media, proxy outlets, and social media accounts to amplify criticism of the United States related to the death of George Floyd and subsequent events.” These “malign actors” also appear intent on drawing attention to alleged hypocrisy in the Trump administration’s handling of protesters, the report found.

The death of 46-year-old George Floyd last month, at the hands of a former Minneapolis police officer, has sparked outrage and protest from coast to coast, prompting calls for an overhaul of police practices. In the intervening weeks, foreign adversaries have sought to leverage the residual domestic strife resulting from Floyd’s death to pursue geopolitical goals, the bulletin claimed, including an ongoing effort to weaken Washington’s image on the international stage. “These actors criticize the United States as hypocritical, corrupt, undemocratic, racist, guilty of human rights abuses and on the verge of collapsing,” the report found. For Russia, this finding represents the latest chapter in Moscow’s age-old information warfare playbook, according to John Cohen, a former senior DHS official and current ABC News contributor.

“This is yet another indicator that Russia is using the combination of overt propaganda and covertly disseminated disinformation to sow discord across our populace, expand the cracks in our society, and undermine the credibility of the U.S. government,” Cohen said.

Read more …

“..go out and face your people, look them in the eye and try telling them that they are being controlled by the Russians through YouTube and Facebook. And I will sit back and watch ‘American exceptionalism’ in action.”

Obama Retread Sees Moscow’s Hand in Protests (Giraldi)

How convenient is it to fall back on Russia which, together with the Chinese, is reputedly already reported to be working hard to subvert the November U.S. election. And what better way to do just that than to call on one of the empty-heads of the Barack Obama administration, whose foreign policy achievements included the destruction of a prosperous Libya and the killing of four American diplomats in Benghazi, the initiation of kinetic hostilities with Syria, the failure to achieve a reset with Russia and the assassinations of American citizens overseas without any due process. But Obama sure did talk nice and seem pleasant unlike the current occupant of the White House.

The predictable Wolf Blitzer had a recent interview with perhaps the emptiest head of all the empowered women who virtually ran the Obama White House. Susan Rice was U.N. Ambassador and later National Security Advisor under Barack Obama. Before that she was a Clinton appointee who served as Undersecretary of State for African Affairs. She is reportedly currently being considered as a possible running mate for Joe Biden as she has all the necessary qualifications being a woman and black. While Ambassador and National Security Advisor, Rice had the reputation of being extremely abrasive. She ran into trouble when she failed to be convincing in support of the Obama administration exculpatory narrative regarding what went wrong in Benghazi when the four Americans, to include the U.S. Ambassador, were killed.

In her interview with Blitzer, Rice said: “We have peaceful protesters focused on the very real pain and disparities that we’re all wrestling with that have to be addressed, and then we have extremists who’ve come to try to hijack those protests and turn them into something very different. And they’re probably also, I would bet based on my experience, I’m not reading the intelligence these days, but based on my experience this is right out of the Russian playbook as well. I would not be surprised to learn that they have fomented some of these extremists on both sides using social media. I wouldn’t be surprised to learn that they are funding it in some way, shape, or form.”

It should be noted that Rice, a devout Democrat apparatchik, produced no evidence whatsoever that the Russians were or have been involved in “fomenting” the reactions to the George Floyd demonstrations and riots beyond the fact that Nancy Pelosi, Hillary Clinton and Joe Biden all believe that Moscow is responsible for everything. Clinton in particular hopes that some day someone will actually believe her when she claims that she lost to Trump in 2016 due to Russia. Even Robert Mueller, he of the Russiagate Inquiry, could not come up with any real evidence suggesting that the relatively low intensity meddling in the election by the Kremlin had any real impact. Nor was there any suggestion that Moscow was actually colluding with the Trump campaign, nor with its appointees, to include National Security Advisor designate Michael Flynn.

[..] Russian Foreign Ministry spokesman Maria Zakharova accurately described the Rice performance as a “perfect example of barefaced propaganda.” She wrote on her Facebook page “Are you trying to play the Russia card again? You’ve been playing too long – come back to reality” instead of using “dirty methods of information manipulation” despite “having absolutely no facts to prove [the] allegations… go out and face your people, look them in the eye and try telling them that they are being controlled by the Russians through YouTube and Facebook. And I will sit back and watch ‘American exceptionalism’ in action.”

Read more …

Today at 9.30 am EDT. Court of Appeals hearing.

Flynn’s Lawyers Say Judge ‘Exceeded His Power’ In Not Dismissing Case (JTN)

Lawyers for Michael Flynn argued in a brief filed Thursday that Judge Emmet Sullivan “exceeded his power” when he refused to dismiss a case per a Justice Department request, arguing that the judge is legally compelled to follow federal prosecutors’ desire to end prosecution against the former Trump national security adviser. The Justice Department in a surprise move last month announced it would be dismissing its case against Flynn, who had plead guilty to lying to FBI agents but later withdrew the plea. Federal officials in May claimed the FBI interview with Flynn had been immaterial to its investigation of him, as part of the federal Russia collusion probe, and that his statements in the 2017 meeting were thus legally irrelevant.


But Sullivan, who is overseeing Flynn’s case, refused to accept the Justice Department request, instead calling in ex-Judge John Gleeson to file an an opinion arguing in favor of keeping the case against Flynn. In their Thursday filing, Flynn’s lawyers slammed Sullivan, arguing that he is “not in the Executive branch and, being an Article III judge, has no authority to gin up his own case or controversy where none exists.” “The game is over and this Court should order the umpire to leave the field,” they wrote of the case, arguing that the ultimate authority for dismissing charges lies with prosecutors. Gleeson in his filing earlier this week argued that the court should consider Flynn’s withdrawal of his guilty plea to itself be perjury, and that Sullivan “should take Flynn’s perjury into account in sentencing him on the offense to which he has already admitted guilt.”

Read more …

I have no space for 85.

Flynn Case: 85 Lies, Contradictions, Oddities, and Unusual Occurrences (ET)

The case of Lt. Gen. Michael Flynn is inevitably heading toward its conclusion. While the presiding district judge, Emmet Sullivan, is trying to keep it going, there’s only so much he can do, chiefly because there’s nobody left to prosecute the case after the Department of Justice (DOJ) dropped it last month. In the latest developments, the District of Columbia appeals court set a hearing in the case for tomorrow (June 12), while the DOJ’s solicitor general himself, as well as five of his deputies, urged the court to order the lower-court judge to accept the case dismissal. “I cannot overstate how big of a deal this is,” commented appellate attorney John Reeves, former assistant Missouri attorney general, in a series of tweets on June 1. Personal involvement of the solicitor general “is highly unusual and rare,” he said.

“Unusual” seems a fitting euphemism for the Flynn case, which has been filled with contradictions, falsehoods, apparent blunders, extraordinary moves, and strange coincidences. The Epoch Times has so far counted 85 such instances. Flynn, former head of the Defense Intelligence Agency during the Obama administration and former national security adviser to President Donald Trump, pleaded guilty on Dec. 1, 2017, to one count of lying to FBI agents during a Jan. 24, 2017, interview. The FBI officially opened an investigation on Flynn on Aug. 16, 2016, based on a suspicion that he “may wittingly or unwittingly be involved in activity on behalf of the Russian Federation which may constitute a federal crime or threat to the national security.”

What activity? The case was opened under a broader investigation into whether the Trump 2016 presidential campaign conspired with Russia to steal emails from the Democratic National Committee and release them through Wikileaks. Flynn was an adviser to the campaign at the time. By its own admission, the FBI had little reason to suspect the campaign. The bureau learned from the Australian government that its then-ambassador to the UK, Alexander Downer, spoke with Trump campaign aide George Papadopoulos, who “suggested” that the campaign received “some kind of suggestion” that Russia could help it by anonymously releasing some information damaging to Trump’s opponent, former Secretary of State Hillary Clinton.

The FBI didn’t know what Papadopoulos actually said or what he was talking about. Officially, this information was used by the FBI to comb through its databases for information on people associated with the Trump campaign and open investigations on four individuals supposedly linked to Russia. Because Flynn’s paid speaking engagements in years past included some for Russian companies—one for Kaspersky Lab and one for RT television in Moscow—the FBI decided to open a counterintelligence investigation on the retired three-star general. But the FBI seemed to have trouble getting its story straight.

Read more …

 

 

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Jun 092020
 


Harris&Ewing War Savings Stamps poster, Washington DC 1917

 

Fed Eases Terms Of Main Street Loans (R.)
Nasdaq Ends At Record, Confirms Bull Market On Economic Recovery Hopes (R.)
WHO Warns of COVID19 Rebound Risk, Says Pandemic ‘Worsening’ Globally (RT)
WHO Says Pandemic ‘Far From Over’ As Daily Cases Hit Record High (R.)
Asymptomatic Spread Of Coronavirus Is ‘Very Rare’ – WHO (CNBC)
57% of People Tested In Italy’s Bergamo Have COVID19 Antibodies (R.)
University of Washington Forecasts 145,000 US COVID19 Deaths By August (R.)
Lockdowns Could Have Saved Three Million Lives Across Europe – Study (Ind.)
Arizona State Health Director: Hospitals Must Activate Emergency Plan (ABC15)
EasyJet CEO Says Legal Case Against UK Quarantine Is Strong (R.)
Tesla’s Double-WTF Chart of the Year (WS)
Chinese Investment In 2019 In Australia Down 60% To Lowest Since 2007 (G.)
Barr: Clearing Of Lafayette Park Was Unrelated To Church Photo Op (Turley)
Ex-Warren Surrogate Blasts White Dems For Kneeling In African Cloth (Fox)
The Appallingly Bad Neoclassical Economics of Climate Change (Steve Keen)

 

 

Worldometer has global new cases for June 8 (midnight to midnight GMT+0) at + 107,270.

My count from about 6 am EDT to 6 am EDT is about + 106,175 cases. If the fall from 130,000 continues, that would be good.

 

 

 

 

New cases past 24 hours in:

• US + 19,006
• Brazil + 18,925
• Russia + 8,985
• India + 8,442
• Pakistan + 4,646
• Chile + 4,696

 

 

Cases 7,219,187 (+ 106,175 from yesterday’s 7,113,012)

Deaths 409,108 (+ 2,559 from yesterday’s 406,549)

 

 

 

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

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 


 

 

Ali at his best. Don’t miss.

 

 

The Fed finds yet another way for banks to make money, that can be disguised as helping those in need. Banks get money for virtually free, lend it to small and medium-sized businesses at an elevated rate, pocket the difference, and let the Fed buy up 95% of the loans afterward.

Fed Eases Terms Of Main Street Loans (R.)

The U.S. Federal Reserve eased the terms of its “Main Street” lending program on Monday, cutting the minimum loan size in half to $250,000 and lengthening the term by a year to encourage more businesses and banks to participate. The central bank also said registration for the program will begin soon and that lenders will be able to start making the loans to small and medium-sized businesses shortly thereafter. The changes, which the Fed said was based on outreach with potential lenders and borrowers, address some of the concerns raised by lenders, lawyers and small business consultants that the previous minimum loan amount of $500,000 was too large to help many businesses affected by the coronavirus pandemic.


“Supporting small and mid-sized businesses so they are ready to reopen and rehire workers will help foster a broad-based economic recovery,” Federal Reserve Chair Jerome Powell said in a statement. The Fed is further minimizing downside risks for banks and credit unions by purchasing 95% of all loans issued through the program, rather than a range of 85% to 95%. The new borrowing minimum may still not be low enough as some businesses need loans smaller than $250,000, Jill Castilla, president and CEO of Citizens Bank of Edmond in Oklahoma said on Twitter after the Fed announced the changes.

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All banks and investors who’ve received bailout packages will now have to repay them, right?

Nasdaq Ends At Record, Confirms Bull Market On Economic Recovery Hopes (R.)

The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased. Rising technology and communication stocks have driven gains in the Nasdaq, which confirmed a new bull market just 16 weeks after coronavirus fears crushed stocks and pushed the U.S. economy into recession. The Nasdaq has climbed 44.7% from its March 23 bottom. A bull market is confirmed once the index makes a new high and is considered to have begun at the index’s low, according to a widely accepted definition.


The S&P 500 remains about 4.5% below its record high close, while the Dow is about 6.7% below. A closely watched monthly jobs report on Friday showed an unexpected fall in unemployment rate, bolstering views that the worst of the economic damage from the virus outbreak was over. “It’s optimism surrounding the reopening of the global economy, and the likely confirmation that the U.S. economy will experience a V-shaped recovery in the second half,” said Sam Stovall, chief investment strategist at CFRA Research in New York.

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If there is a general second wave, it will hit very hard. Lockdown 2.0 will be difficult to explain, let alone enforce. That’s what you get when you f*ck up 1.0.

WHO Warns of COVID19 Rebound Risk, Says Pandemic ‘Worsening’ Globally (RT)

Now is not the time to become complacent and drop our guard about the coronavirus as the pandemic is still growing globally, World Health Organization officials have warned. Despite some improvements in infection rates in Europe, the global Covid-19 situation is “worsening” yet again, WHO Director-General Tedros Adhanom Ghebreyesus said on Monday during an online press briefing. Sunday, June 7, had most reported cases in a single day so far of the outbreak, he added. According to Tedros, active surveillance and contact tracing are still essential to ensure the virus doesn’t rebound. “More than six months into the pandemic this is not the time for any country to take its foot off the pedal,” he warned.

The alarming comments by Tedros come as many countries are lifting their Covid-19 lockdowns after reporting success in containing the spread of disease. Businesses are reopening and people are starting to return to offices, with timelines for the resumption of international air travel also being announced. But the WHO has been warning that easing restrictions will inevitably lead to a ‘second wave’ of the coronavirus, with the disease making a comeback in a different part of the population after an initial decline in cases. [..] Worldwide, more than 7 million people have been infected with the novel coronavirus and 403,000 have died since the pandemic was first reported in China’s Wuhan in December 2019.

The US remains the worst-hit country with almost 2 million confirmed cases and a death toll of over 110,000, according to figures compiled by Johns Hopkins University. It’s followed by Brazil which has more than 691,000 infections and some 36,400 fatalities. Russia, which has been one of the world leaders in Covid-19 testing, has recorded 476,000 confirmed cases, with almost 6,000 people succumbing to the disease. The WHO has been heavily criticized over its initial response to the Covid-19 outbreak. The UN health agency held off calling the spreading coronavirus a “pandemic,” despite it being found in Asia, North America, Europe and the Middle East, until March, 11.

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More on that WHO briefing.

WHO Says Pandemic ‘Far From Over’ As Daily Cases Hit Record High (R.)

New coronavirus cases had their biggest daily increase ever as the pandemic worsens globally and has yet to peak in central America, the World Health Organization (WHO) said on Monday, urging countries to press on with efforts to contains the virus. “More than six months into the pandemic, this is not the time for any country to take its foot off the pedal,” WHO Director General Tedros Adhanom Ghebreyesus told an online briefing. More than 136,000 new cases were reported worldwide on Sunday, the most in a single day so far, he said. Nearly 75% of them were reported from 10 countries, mostly in the Americas and South Asia. In response to a question on China, WHO’s top emergencies expert, Dr. Mike Ryan, said retrospective studies of how the outbreak has been addressed could wait, adding: “We need to focus now on what we are doing today to prevent second peaks.”


Ryan also said infections in central American countries including Guatemala were still on the rise, and that they were “complex” epidemics. “I think this is a time of great concern,” he said, calling for strong government leadership and international support for the region. Brazil is now one of the hotspots of the pandemic, with the second highest number of confirmed cases, behind only the United States, and a death toll that last week surpassed Italy’s. After removing cumulative numbers for coronavirus deaths in Brazil from a national website, the Health Ministry sowed further confusion and controversy by releasing two contradictory sets of figures for the latest tally of infection cases and fatalities.

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Very curious statement. And they don’t provide the sources it’s based on.

Asymptomatic Spread Of Coronavirus Is ‘Very Rare’ – WHO (CNBC)

Coronavirus patients without symptoms aren’t driving the spread of the virus, World Health Organization officials said Monday, casting doubt on concerns by some researchers that the disease could be difficult to contain due to asymptomatic infections. Some people, particularly young and otherwise healthy individuals, who are infected by the coronavirus never develop symptoms or only develop mild symptoms. Others might not develop symptoms until days after they were actually infected. Preliminary evidence from the earliest outbreaks indicated that the virus could spread from person-to-person contact, even if the carrier didn’t have symptoms. But WHO officials now say that while asymptomatic spread can occur, it is not the main way it’s being transmitted.


“From the data we have, it still seems to be rare that an asymptomatic person actually transmits onward to a secondary individual,” Dr. Maria Van Kerkhove, head of WHO’s emerging diseases and zoonosis unit, said at a news briefing from the United Nations agency’s Geneva headquarters. “It’s very rare.” [..] To be sure, asymptomatic and presymptomatic spread of the virus appears to still be happening, Van Kerkhove said but remains rare. That finding has important implications for how to screen for the virus and limit its spread. “What we really want to be focused on is following the symptomatic cases,” Van Kerkhove said. “If we actually followed all of the symptomatic cases, isolated those cases, followed the contacts and quarantined those contacts, we would drastically reduce” the outbreak.

https://twitter.com/ganeshran/status/1270082616834826242

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With Wuhan, the worst hit place on earth. But 57% still doesn’t appear enough for herd immunity.

Testing for antibodies is still shaky, and so is its effect on the disease.

57% of People Tested In Italy’s Bergamo Have COVID19 Antibodies (R.)

More than half the residents tested in Italy’s northern province of Bergamo have COVID-19 antibodies, health authorities said on Monday, citing a sample survey. Of 9,965 residents who had blood tests between April 23 and June 3, 57% had antibodies indicating they had come into contact with the coronavirus, the survey showed. Health authorities in Bergamo said the results were based on a “random” sample which was “sufficiently broad” to be a reliable indicator of how many people had been infected in the province, which became the epicentre of Italy’s outbreak. In a separate statement issued later, the Bergamo health agency said that most of those in the sample were residents of the worst-hit areas.


Many had already been put under quarantine, the statement added. Antibodies were found in just over 30% of the 10,404 health operators tested although they are generally considered more at risk than other people. In a report released in early May, national statistics institute ISTAT said the number of deaths in Bergamo was up 568% in March compared with the 2015-2019 average, making it Italy’s worst-hit city in terms of deaths. Its hospitals were overwhelmed by infected people and, with morgues unable to keep up, convoys of army trucks carrying away the dead became a chilling symbol of the global pandemic.

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Now we’re just throwing numbers around. They “estimated on Monday that 145,728 people could die of COVID-19 in the United States by August”. Not 145,729.

University of Washington Forecasts 145,000 US Covid-19 Deaths By August (R.)

University of Washington researchers estimated on Monday that 145,728 people could die of COVID-19 in the United States by August, raising their grim forecast by more than 5,000 fatalities in a matter of days. On Friday, the widely cited Institute for Health Metrics and evaluation at the university projected 140,496 deaths by August from COVID-19, the respiratory illness caused by the coronavirus. Researchers did not give a reason for the abrupt revision. The new estimate came on the same day that Texas reported its highest number of hospitalizations so far in the pandemic and 22 U.S. states showed at least a small uptick in the number of new confirmed cases, according to a count kept by Johns Hopkins University.


Among the states with the sharpest increases were Michigan and Arizona, according to Johns Hopkins, while Virginia, Rhode Island and Nebraska showed the greatest decreases. Infectious disease experts have said that large street protests held in major U.S. cities after the death of a black man, George Floyd, in Minneapolis police custody, could touch off a new outbreak of the disease. A total of more than 1.9 million cases of COVID-19, the respiratory illness caused by the coronavirus, have been reported in the United States, according to a Reuters tally, which has confirmed 110,000 deaths.

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Or could not. Could be half, could be twice as much. Who has faith in the Imperial College?

Lockdowns Could Have Saved Three Million Lives Across Europe – Study (Ind.)

Europe’s lockdowns over coronavirus may have saved around three million lives, according to a new study. Imperial College London scientists found restrictions had a “substantial effect” in reducing transmission levels of the virus in a modelling study involving data from 11 countries from the continent up to early May. European nations began implementing social distancing, school closures and national lockdowns in March, with the UK going into lockdown on 23 March. The Imperial researchers estimate across the countries looked at – including France, Germany, Italy and Spain – between 12 and 15 million people were infected with Covid-19 up to 4 May, representing between 3.2 per cent and 4.0 per cent of the population. Scientists also studied data from the UK, Austria, Belgium, Denmark, Norway, Spain, Sweden and Switzerland.

In their paper, published in the Nature journal, they said the results show that major non-pharmaceutical interventions and lockdown in particular have had a “large effect on reducing transmission”. The researchers estimated 3.1 million deaths had been prevented across the 11 countries due to interventions since the beginning of the pandemic. They came up with the figure after comparing the deaths predicted under a model with no interventions to the deaths predicted in an intervention model. The paper says: “Continued intervention should be considered to keep transmission of SARS-CoV-2 under control.”

Meanwhile, a second study from the University of California, looking at China, South Korea, Italy, Iran, France, and the United States, has estimated interventions in those countries prevented or delayed around 530 million cases. The paper, also published in Nature, said: “In the absence of policy actions, we estimate that early infections of Covid-19 exhibit exponential growth rates of roughly 38% per day.” Researchers said they found that anti-contagion policies “significantly and substantially” slowed this growth, adding: “Some policies have different impacts on different populations, but we obtain consistent evidence that the policy packages now deployed are achieving large, beneficial, and measurable health outcomes.”

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Several states need to watch out.

Arizona State Health Director: Hospitals Must Activate Emergency Plan (ABC15)

The Arizona Department of Health Services director sent out a letter this weekend, informing hospitals in our state to “fully activate” their facility emergency plans. In doing so, the hospitals are going to be preparing surge beds, cross-training staff, and possibly reducing or suspending elective surgeries to “ensure adequate bed capacity for both COVID and non-COVID admissions.” The Saturday letter states the hospitals need to identify additional ICU and inpatient beds to meet the 50 percent additional bed increase. The state’s hospitals now must determine whether or not to move their facilities from conventional care to contingency care, and also prepare for crisis care.


The letter was dated the same day that ADHS director Dr. Cara Christ told ABC15 that her department’s staff had made errors and reported incorrect hospitalization numbers since April on the Arizona Department of Health Services coronavirus dashboard. ADHS miscalculated the number of hospital beds currently available and in use in Arizona, due to staff members’ confusion about the hospitals’ licensed bed capacity and surge capacity.

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The quarantine comes at the wrong end of the lockdown. They should have isolated the 100,000 they let in during the lockdown, but instead never even tested them, as a matter of policy.

EasyJet CEO Says Legal Case Against UK Quarantine Is Strong (R.)

Britain’s quarantine plan was rushed into existence, is out of proportion and should be challenged in the courts, according to the head of easyJet which has joined rivals in threatening legal proceedings. Chief Executive Johan Lundgren said he believed easyJet, Ryanair and British Airways had a good chance of winning any legal battle and warned that if the measure stayed in place for a long time he could have to make further job cuts. Britain on Monday introduced a 14-day quarantine for international arrivals despite the threat of legal action. “We think that there’s enough evidence and there’s a strong case here that this should be challenged by the courts. This is something that has been rushed through. It’s not in proportion,” Lundgren told Sky News on Monday.


EasyJet is already planning to cut 4,500 jobs or 30% of its workforce because of the coronavirus crisis, and Lundgren said quarantine would make the situation even worse. He said he hoped the threat of legal action would push the government to replace the measure with “a targeted approach that is based on the solutions of air bridges”, which allow people to travel freely between countries with low infection rates. When asked if the quarantine could lead to more job losses, he said, “I fear so…I think and I fear unless there is a change to this (the quarantine rule), that the aviation industry as we know it here in the UK will not be in tact.”

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Fun with Musk.

Tesla’s Double-WTF Chart of the Year (WS)

Tesla’s shares closed at a new closing high today of $949.92. This beat the prior closing high of February 19 of $917.42. But it remains a tad below the intraday high of 968.99 of February 4. So let me walk you through this in chronological order because it’s just too juicy to pass up. On February 4, 2020, when Tesla’s shares hit $968.99, I posted the “WTF chart of the year,” calling Tesla a “Supernatural Phenomenon.” The shares had surged 170% from mid-December. And Tesla’s market cap had skyrocketed during the less than two-month period by over $110 billion:

Then it came unglued. On the way down, on February 13, Tesla sold new shares at $767 a share and collected over $2 billion in cash from investors. This was a wise move for Tesla. Perhaps Musk saw that the pandemic might be shutting down the factory in Fremont, after it had already shut down the factory in Shanghai, and perhaps he saw that Tesla would burn through cash a lot faster during the pandemic than before, and it was a lightning-fast drive-by share sale.


And shares swooned. Then on March 18, Tesla shares plunged another 16% to $361.22, amid allegations that it was flouting the lockdown order of Alameda County, by running two full shifts at its Fremont factory. This was a confusing story with allegations and counter-allegations, that then threatened to spiral out of control, and we won’t get into it. Nevertheless, that fateful March 18, I posted the new version of the WTF chart of the year, one of the most majestic double-sided spikes:

And then the whole circus started all over again. Since March 18, the stock has re-skyrocketed 163%, and Tesla’s market capitalization has re-skyrocket by $110 billion, which brings us to the new-and-improved Double-WTF chart of the year.

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Is it mainly coal?

Chinese Investment In 2019 In Australia Down 60% To Lowest Since 2007 (G.)

Chinese investment in Australia has fallen by almost 60% as Beijing shifts its focus towards developing nations that have signed up for its Belt and Road Initiative. Despite record trade between the two nations, Chinese investment in Australia fell from $8.2bn in 2018 to $3.4bn in 2019, with 43% fewer deals struck. A new report puts the plunge down to tighter Chinese regulations, a negative perception of Australia’s investment rules, and a shift towards Latin America and Belt and Road projects in developing countries. The KPMG and University of Sydney study found new Chinese investment in Australia had plunged to its lowest level since 2007.


Hans Hendrischke, one of the report’s authors, said the decline mirrored similar patterns in other western countries. But he said Chinese investment into Australia had fallen at a faster rate than other nations including the United States. Australian food and agricultural businesses were the biggest recipients of Chinese investment, with 44% of the total funding flowing into the sector. The result was largely driven by the acquisition of the Bellamy’s dairy company. The commercial real estate sector was the second largest recipient despite an annual decline of 51%.

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Apparently CBS cut out all sorts of things Barr said.

Barr: Clearing Of Lafayette Park Was Unrelated To Church Photo Op (Turley)

Margaret Brennan just completed an interview with Attorney General Bill Barr on CBS Face the Nation. For days, the allegation from politicians, the press, protesters, and pundits has been that the Park was cleared for the purpose of the widely criticized photo op held by Trump in front of St. John’s Church. [..] The photo op allegation continues to be repeated on the Internet despite various media reports debunking it. This morning Barr confirmed the details in those reports and offered some new details. Barr however continues to support the level of force used in the Park and the decision to go forward with the clearing of the Park. Barr confirmed that the plan to clear the park came from the Park Police, which asked for the expansion of the perimeter on Sunday night. He reviewed the plan Monday morning and, with others, approved the plan. The order was transmitted to Park Police at 2 pm.

[..] Brennan does challenge what she said was Barr’s assertion that the Secretary Mark Esper did not rule out the use of the Insurrection Act. This may have been a lost in legal translation moment. It think Barr was making a narrower legal point while Brennan thought it was a more general statement. Here is what Barr said: “The option to use active duty forces in a law enforcement role should only be used as a matter of last resort, and only in the most urgent and dire of situations. We are not in one of those situations now. I do not support invoking the Insurrection Act.” Esper was not saying that the Act could not be used but should only be used as a “last resort.”

Neither Barr not Esper supported invoking the Act, i.e., ordering deployments under the Act. Both however agreed it could be used as a legal matter if circumstances warranted. Here is what Barr said: MARGARET BRENNAN: So in this Monday meeting with the president, when the Defense Secretary, who has now publicly said that he opposed using the Insurrection Act, you said what to the president? BARR: I don’t think the Secretary of Defense said he opposed it. I think he said that it was a last resort and he didn’t think it was necessary. I think we all agree that it’s a last resort, but it’s ultimately the president’s decision. The- the reporting is completely false on this. Both Esper and Barr seem to agree that the Act is available but that current circumstances do not warrant their use. Both agree it should be used as a “last resort.”

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I know this is Fox, and only one black voice (many more have spoken), but this must be one of the most racist things I’ve seen in a long time.

I was wondering at what point in the carefully planned spin doctor meeting, was the suggestion voted down to go in blackface.

Ex-Warren Surrogate Blasts White Dems For Kneeling In African Cloth (Fox)

A former national surrogate for Sen. Elizabeth Warren, D-Mass., ripped into white congressional Democrats on Monday after they wore African-patterned garb and knelt in a demonstration against racism and police brutality. “I still can’t wrap my mind around the fact that they draped these white people in kente cloth to ‘honor’ him. This has to be hell,” author Frederick Joseph tweeted, also arguing that black Americans are “being pandered to, and ultimately, disrespected.” In a tweet thread, he argued that Democrats were failing in their attempts to be helpful amid ongoing strife surrounding George Floyd’s death.

He specifically took aim at House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., who joined other Democrats in kneeling inside of the Capitol Visitor Center on Thursday. Democratic members of both the House and Senate knelt for 8 minutes and 46 seconds to honor Floyd, representing the amount of time he was pinned down by former Minneapolis police officer Derek Chauvin. The kneeling also touched on an ongoing protest trend harkening back to former NFL player Colin Kaepernick and demonstrations during the national anthem. Pelosi said on Monday that members of Congress would be kneeling in a place where they typically recited the Pledge of Allegiance.


“This is a mess,” Joseph said in one tweet. In another, he added: “If anyone can’t understand why Nancy Pelosi, Chuck Schumer, and them dressed up like they’re trying to sneak into Wakanda is disrespectful and appropriative you have a great deal to learn.” Wakanda is the fictional land in Africa associated with the Marvel superhero Black Panther.

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Very long from Steve on the nonsense most economists spout about the role of energy in an economy. They basically treat it as if it doesn’t play any role, much in the same way that people like Paul Krigmen deny the role that banks play.

The Appallingly Bad Neoclassical Economics of Climate Change (Steve Keen)

Nordhaus justified the assumption that 87% of GDP will be unaffected by climate change on the basis that: “..for the bulk of the economy—manufacturing, mining, utilities, finance, trade, and most service industries—it is difficult to find major direct impacts of the projected climate changes over the next 50 to 75 years”. (Nordhaus 1991, p. 932) In fact, a direct effect can easily be identified by surmounting the failure of economists in general—not just Neoclassicals—to appreciate the role of energy in production. Almost all economic models use production functions that assume that “Labour” and “Capital” are all that are needed to produce “Output”.

However, neither Labour nor Capital can function without energy inputs: “to coin a phrase, labour without energy is a corpse, while capital without energy is a sculpture” (Keen, Ayres et al. 2019, p. 41). Energy is directly needed to produce GDP, and therefore if energy production has to fall because of global warming, then so will GDP. [..] if climatic changes caused by the increase in global temperature persuade the public and policymakers that we must stop adding CO2 to the atmosphere “now”, whenever “now” may be, then global GDP will fall roughly proportionately to the ratio of fossil-fuel energy production to total energy production at that time.

As of 2020, fossil fuels provided roughly 85% of energy production. So, if 2020 were the year humanity decided that the growth in CO2 had to stop, GDP would fall by of the order of 85%. Even if the very high rate of growth of renewables in 2015 were maintained—when the ratio of renewables to total energy production was growing at about 3% per annum—renewables would still yield less than 40% of total energy production in 2050—see Figure 8. This implies a drop in GDP of about 50% at that time. The decision by Neoclassical climate change economists to exclude “manufacturing, mining, utilities, finance, trade, and most service industries” from any consequences from climate change is thus utterly unjustified.

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May 242020
 


Walker Evans Street Scene, Vicksburg, Mississippi 1936

 

Trump: ‘I Have A Chance To Break The Deep State’ (Attkisson)
The Influential Evangelical Group Mobilizing To Reelect Trump (IC)
Over 4,300 Virus Patients Sent To NY Nursing Homes (AP)
Cuomo Tries To Deflect Blame Of Nursing Home COVID19 Deaths On To Trump (Fox)
Russia Reports 153 Coronavirus Deaths, Highest Daily Toll Yet (R.)
Dominic Cummings Must Quit Over Lockdown Drive – Tory MP (R.)
UK To Require Employers To Pay 20-30% Of Furloughed Wage Cost (R.)
Project Leader: Oxford’s COVID19 Vaccine Trial Has 50% Chance Of Success (R.)
Powell’s Problem? He Can’t Print Jobs – DDMB (TA)
Judge Lifts Stay On Sale Of Venezuela’s Us Refineries (AP)
Judge In Flynn Case Hires Lawyer To Defend His Decision Not To Drop It (JTN)
Personal #Coronavirus Update 03 May 23rd 2020 (Steve Keen)

 

 

Global new cases in past 24 hours: 101,325

New cases in:

• US + 21,475
• Russia + 8,599
• Brazil + 15,016
• India + 6,274
• Peru + 4,056

 

 

 

 

 

Cases 5,427,555 (+ 101,325 from yesterday’s 5,326,230)

Deaths 344,417 (+ 4,034 from yesterday’s 340,383)

 

 

 

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

 

 

From Worldometer

 

 

From SCMP:

 

 

From COVID19Info.live:

 

 

 

 

Hope you won’t mind if we don’t hold our breath.

Trump: ‘I Have A Chance To Break The Deep State’ (Attkisson)

President Trump says he is making inroads in taming Washington’s permanent bureaucracy, which he likes to call the “deep state.” “What am I doing? I’m fighting the deep state,” Trump said in an exclusive interview with Full Measure with Sharyl Attkisson. “I’m fighting the swamp…If it keeps going the way it’s going, I have a chance to break the deep state. It’s a vicious group of people. It’s very bad for our country.” In the wide-ranging interview with Full Measure set to air Sunday, Trump also addressed the debate over whether religious services should remain closed. Calling them “essential services,” he says it’s time for them to open.


[..] Also addressed in the interview: the controversy over using the anti-malaria drug hydroxychloroquine for coronavirus prevention or treatment. Trump says he just finished a two week course of of the drug for preventive purposes after two White House staffers were diagnosed with coronavirus. “I’m still here, to the best of my knowledge,” he says. The president also talked about the strengths and weaknesses of his political opponent in the presidential race, Joe Biden, his own Twitter practices, the new Director of National Intelligence John Ratcliffe, and the scandal over FBI surveillance abuses. “That was the insurance policy,” Trump tells Attkisson, speaking of the FBI’s targeting of the Trump campaign in 2016 and the transition team in early 2017. “[They thought ‘Clinton is] going to win but just in case she doesn’t, we have an insurance policy.’ And now I beat them on the insurance policy. And now they’re being exposed.”

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Those who target old ladies in arcane churches are more tech-savvy than those who target more tech savvy people.

• United in Purpose is a group on the religious right that worked to grow evangelical support for Donald Trump in 2016.
• UIP’s 2020 strategy, as discussed on an April call, is to target religious Latino and African American voters.
• Ralph Reed boasted of “data partners” who had identified 26 million key voters in battleground states, about three-fourths of whom they could target via Facebook.

The Influential Evangelical Group Mobilizing To Reelect Trump (IC)

“The covid virus has been a gift from God,” began Ken Eldred. “The kingdom of God advances through a series of glorious victories, cleverly disguised as disasters.” In response to the coronavirus pandemic, Eldred noted, millions of Americans are turning to Christ, Walmart is selling out of Bibles, and online church broadcasts have hit record numbers. But while religiosity was growing, there have been setbacks from the disease outbreak. “Satan has been busy too,” Eldred, a major donor to evangelical and Republican causes, explained. “The virus has messed up many of our plans involving our in-person meetings with voters.” And the rise of mail-in ballots, Eldred added, would undercut voter identification laws, which have been a pillar of GOP election strategy.


“The children of the darkness put early voting into this CARES package,” he grumbled, a reference to the $400 million for election assistance programs to states included in the $2.2 trillion coronavirus relief bill. Following a brief prayer led by Eldred, in which he declared that “we have now turned the corner on the virus” and asked God for an end to coronavirus deaths, the business of the call got started: How Christian voters can be a force to reelect Donald Trump. The call, held in mid-April, one in a series of meetings sponsored by United in Purpose, a low-key group that has quietly become a preeminent venue for leaders on the religious right to convene. UIP was crucial in connecting Trump to evangelical leaders in 2016, and it promises to be one of the most vital weapons in Trump’s reelection arsenal this year.

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Whose fault is it? Cuomo says it’s Trump. That at least doesn’t appear to be the whole truth and nothing but the truth.

The CDC plays a role. And people now like saying it’s Trump’s CDC, but the influence of any single president on the CDC is of course limited. Which is, as those same people will say in other circumstances, exactly how it should be. That feels a little like having your cake and eating it to.

Over 4,300 Virus Patients Sent To NY Nursing Homes (AP)

More than 4,300 recovering coronavirus patients were sent to New York’s already vulnerable nursing homes under a controversial state directive that was ultimately scrapped amid criticisms it was accelerating the nation’s deadliest outbreaks, according to a count by The Associated Press. AP compiled its own tally to find out how many COVID-19 patients were discharged from hospitals to nursing homes under the March 25 directive after New York’s Health Department declined to release its internal survey conducted two weeks ago. It says it is still verifying data that was incomplete.

Whatever the full number, nursing home administrators, residents’ advocates and relatives say it has added up to a big and indefensible problem for facilities that even Gov. Andrew Cuomo — the main proponent of the policy — called “the optimum feeding ground for this virus.” “It was the single dumbest decision anyone could make if they wanted to kill people,” Daniel Arbeeny said of the directive, which prompted him to pull his 88-year-old father out of a Brooklyn nursing home where more than 50 people have died. His father later died of COVID-19 at home. “This isn’t rocket science,” Arbeeny said. “We knew the most vulnerable — the elderly and compromised — are in nursing homes and rehab centers.”

[..] Nationally, over 35,500 people have died from coronavirus outbreaks at nursing homes and long-term care facilities, about a third of the overall death toll, according to the AP’s running tally. Cuomo has deflected criticism over the nursing home directive by saying it stemmed from Trump administration guidance. Still, few states went as far as New York and neighboring New Jersey, which has the second-most care home deaths, in discharging hospitalized coronavirus patients to nursing homes. California followed suit but loosened its requirement following intense criticism.

Some states went in the opposite direction. Louisiana barred hospitals for 30 days from sending coronavirus patients to nursing homes with some exceptions. And while Louisiana reported about 1,000 coronavirus-related nursing home deaths, far fewer than New York, that was 40% of Louisiana’s statewide death toll, a higher proportion than in New York.

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But okay, there are CDC guidelines that may have played a role in the nursing home disaster. Only, what are those guidelines? Are they:

“nursing homes should admit any individuals that they would normally admit to their facility, including individuals from hospitals where a case of COVID-19 was/is present.”

Or

“CDC guidelines require any newly admitted and readmitted resident with a COVID-19 case to be placed in a designated COVID-19 care unit, while those who have met the criteria to have recovered can return to a regular unit in the nursing home. [..] “a nursing home can accept a resident diagnosed with COVID-19… as long as the facility can follow CDC guidance.”

Cuomo Tries To Deflect Blame Of Nursing Home COVID19 Deaths On To Trump (Fox)

New York Gov. Andrew Cuomo Saturday doubled down on his state’s now-scrapped nursing home policy that critics say contributed to thousands of coronavirus deaths and instead blamed the problem on President Trump and his administration. “New York followed the president’s agencies’ guidance,” Cuomo said Saturday at his press conference. “…. What New York did was follow what the Republican Administration said to do. That’s not my attempt to politicize it. It’s my attempt to depoliticize it. So don’t criticize the state for following the president’s policy.” The governor’s office said New York’s original nursing home policy was in line with a March 13 directive from the Trump Administration’s Centers for Medicare & Medicaid Services (CMS) and Centers from Disease Control and Prevention (CDC) that went out to all states on how to control infections in nursing homes.

The guidance says “nursing homes should admit any individuals that they would normally admit to their facility, including individuals from hospitals where a case of COVID-19 was/is present.” “Not could. Should,” Melissa DeRosa, secretary to the governor and Cuomo’s top aide, said at the Saturday press conference. “That is President Trump’s CMS and CDC…There are over a dozen states that did the exact same thing.” Cuomo has been under scrutiny from GOP politicians who say the governor should have never allowed recovering coronavirus patients to leave hospitals and go back to their residential nursing homes to spread the contagious virus. Nursing care facilities, home to some of the most vulnerable citizens, have been coronavirus hotspots around the country.

New York leads the nation with the most reported coronavirus nursing home deaths at more than 5,000 — though the state changed how it counts deaths so the numbers of nursing home patient deaths could be even higher. Cuomo’s response Saturday echoed his past answers, that he was only following guidelines from the Trump administration and Centers for Disease Control and Prevention. [..] CDC guidelines require any newly admitted and readmitted resident with a COVID-19 case to be placed in a designated COVID-19 care unit, while those who have met the criteria to have recovered can return to a regular unit in the nursing home. The March 13 guidance that Cuomo’s office cited says “a nursing home can accept a resident diagnosed with COVID-19… as long as the facility can follow CDC guidance.”

New York – along with California and New Jersey – went further and turned the guidance into state directives and said at the time that nursing homes cannot refuse to take patients from hospitals solely because they have the coronavirus. After mounting criticism that the policy put the most vulnerable people at risk and contributed to a high number of fatalities, New York reversed course May 10. Now hospitals can only send patients who have tested negative for COVID-19 to nursing homes.

Read more …

Russia has very few deaths vs its cases. HCQ rules? Or are the death numbers about to increase rapidly?

Russia Reports 153 Coronavirus Deaths, Highest Daily Toll Yet (R.)

Russia on Sunday reported 153 coronavirus deaths over the previous 24 hours, the epidemic’s highest daily toll, raising total fatalities to 3,541, the country’s coronavirus crisis response centre said It also said 8,599 new cases had been documented, fewer than on the previous day, pushing the nationwide tally of infections to 344,481.

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The UK talks about one topic only this weekend. Dominic Cummings has violated his own rules by taking a number of long distance trips while everyone stayed home. As his wife had COVID19 and he probably did as well.

The best twist is the government saying he did this because “he cares”. Does that mean everyone who “cares” should have done the same, instead of watching their parents’ funerals on a lap top?

Oh well, at least no-one talks about all the other failures anymore.

Dominic Cummings Must Quit Over Lockdown Drive – Tory MP (R.)

A lawmaker from Britain’s ruling Conservative Party on Sunday called for the resignation of Dominic Cummings, the senior adviser to Prime Minister Boris Johnson who travelled 400 km (250 miles) from London to northern England during lockdown while his wife showed coronavirus symptoms. “It is intolerable that Boris’ government is losing so much political capital,” Steve Baker wrote on Twitter. “Dominic Cummings must go.” Cummings, who masterminded the 2016 campaign to leave the European Union during the Brexit referendum, travelled to Durham in late March, when measures to combat the spread of the coronavirus were already in place.

Johnson’s office said on Saturday he made the journey to ensure his 4-year-old son could be properly cared for as his wife was ill with COVID-19 and there was a “high likelihood” that Cummings would himself become unwell. The Daily Mirror later reported that the advisor made a second trip from London during the lockdown and was spotted near Durham on April 19, days after returning to London from his first trip. “We will not waste our time answering a stream of false allegations about Mr Cummings from campaigning newspapers,” Johnson’s Downing Street office said on Saturday. Opposition politicians have called for Cummings, who wields huge influence on the government, to go, saying his actions were hypocritical at a time when millions of Britons were staying in their homes. Cummings has said he will not quit.

Read more …

From August. They sense how long and deep the misery will be, but they refuse to address it other than through this kind of nonsense. Every government does.

UK To Require Employers To Pay 20-30% Of Furloughed Wage Cost (R.)

The United Kingdom has drawn up plans to require employers to cover 20% to 30% of furloughed employees’ wages from August to reduce the vast burden of the coronavirus crisis on government finances, The Times newspaper reported. The United Kingdom extended its job retention scheme – the centrepiece of its attempts to cushion the coronavirus hit to the economy – by four months on May 12, but told employers they would have to help to meet its cost from August. “The Treasury has drawn up plans that would require employers to cover between 20 and 30 per cent of people’s wages,” The Times said.


“They would also be required to cover the cost of employer’s national insurance contributions, on average 5 per cent of wages.” A spokesman for finance minister Rishi Sunak declined to comment on the report. Sunak is expected to announce the changes next week, The Times said. Sunak said on Friday that Britain was facing a “very serious economic crisis” and jobs would be lost in the “days, weeks and months to come”.

Read more …

Why? “…low transmission of COVID-19 in the community..”

It’s so sad it’s almost not funny.

Project Leader: Oxford’s COVID19 Vaccine Trial Has 50% Chance Of Success (R.)

The University of Oxford’s COVID-19 vaccine trial has only a 50% chance of success as the coronavirus seems to be fading rapidly in Britain, the professor co-leading the development of the vaccine told the Telegraph newspaper. Adrian Hill, director of Oxford’s Jenner Institute, which has teamed up with drugmaker AstraZeneca Plc to develop the vaccine, said that an upcoming trial, involving 10,000 volunteers, threatened to return “no result” due to low transmission of COVID-19 in the community. “It’s a race against the virus disappearing, and against time”, Hill told the British newspaper. “At the moment, there’s a 50% chance that we get no result at all.” The experimental vaccine, known as ChAdOx1 nCoV-19, is one of the front-runners in the global race to provide protection against the new coronavirus causing the COVID-19 pandemic. Hill’s team began early-stage human trials of the vaccine in April, making it one of only a handful to have reached that milestone.

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The businesses are gone. But the people are still there.

Powell’s Problem? He Can’t Print Jobs – DDMB (TA)

“The Federal Reserve is stuck in the middle,” said Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence and a former advisor to the Federal Reserve. Speaking about Fed Chairman Jerome Powell on a Hedgeye webcast Thursday, she explained: “He wants to print more money, because he wants to put it into the hands of the lowest third of income earners.” Powell also “wants to keep his facilities open that violate the Federal Reserve Act and buy junk bonds, because he wants to keep Wall Street happy,” DiMartino Booth said. “So, he wants to keep the wealthiest happy, and he wants to print money to give to the lowest income earners in the economy. He cannot print jobs in the middle, and that is the problem,” she explained.

“He can’t print jobs. He can’t print cash flow. And he can’t print these small businesses back into business that the PPP failed,” the Fed critic said, referring to the Paycheck Protection Program. Powell “practically begged” for stimulus legislation to be passed by Congress during his appearance on the CBS show “60 Minutes” this past Sunday, she added. He “can’t get enough traction, because we’re getting closer and closer to Election Day,” and neither the Republicans nor Democrats want to give in to the other side when it comes to new stimulus dollars, DiMartinoBooth explained. Powell’s “naivete right now is very dangerous,” she said, pointing to his support for the expanded Main Street Lending Program.

The private equity firms that lobbied for it “were trying to make sure that the companies that pay them dividends didn’t have to go out of business,” the Fed expert said. “Powell thinks that he’s keeping those employees employed,” she explained. “But what he’s really doing is bailing out the big private equity guys, so that they can continue to pay themselves one-time dividends [and] load these companies up with debt and make them that much more dangerous.” When this situation deteriorates much further, “there is no Chapter 11 route,” DiMartino Booth said. “They’re just going to have to liquidate.”

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Criminal enterprise.

Judge Lifts Stay On Sale Of Venezuela’s US Refineries (AP)

A U.S. judge on Friday approved moving forward with the sale of Venezuela’s prized U.S.-based CITGO refineries, allowing a Canadian mining company to collect $1.4 billion it lost in a decade-old takeover in the South American nation by the late socialist President Hugo Chávez. The case is critical to Venezuela’s opposition led by Juan Guaidó, which was banking on profits from the Houston-based company to finance the crisis-torn nation’s recovery — if they were ever able to force President Nicolás Maduro from power. The order by Chief Judge Leonard P. Stark of U.S. District Court in Delaware follows a decision by the U.S. Supreme Court on Monday that upheld an earlier ruling by Stark authorizing CITGO’s liquidation.

Obstacles still remain before moving ahead with CITGO’s sale. The Canadian mining company Crystallex must first get a license from U.S. Treasury officials, which had temporarily shielded Venezuela’s opposition from losing CITGO. Crystallex and attorneys for Venezuela also have to agree on how it will sell CITGO, Stark’s latest ruling said. Chavez took over the gold mining firm’s Venezuela concession and the local operations of other international companies as part of his Bolivarian revolution that has left Venezuela spiraling into deepening economic and political turmoil.

Crystallex, which went bankrupt, sued Venezuela to recover its lost investment in Venezuela. The case is unique, because the court allowed Crystallex to attach assets of CITGO’s parent company, the Venezuelan state-run oil firm PDVSA, finding that Venezuela had erased the lines between the government and its oil firm. Venezuela has owned CITGO since the 1980s as part of PDVSA. It has three refineries in Louisiana, Texas and Illinois in addition to a network of pipelines crisscrossing 23 states. It provides between 5% and 10% of U.S. gasoline.

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The case gets crazier by the day. He’s hired a defense lawyer because he was asked to explain his decision. Bad conscience?

Judge In Flynn Case Hires Lawyer To Defend His Decision Not To Drop It (JTN)

Emmet Sullivan, the judge who has been directed to explain his conduct in overseeing Michael Flynn’s case—including his unwillingness to drop the case after the Justice Department requested it—has hired a lawyer to defend his conduct before the court. The judge was ordered by an appeals court this week to explain his unorthodox handling of Flynn’s ongoing case in district court. The Justice Department this month moved to drop its case against Flynn, but Sullivan declined to immediately do so, instead appointing a retired judge to argue against dismissing the case.


Sullivan has retained Beth Wilkinson, a high-profile attorney known for successfully arguing in favor of the execution of domestic terrorist Timothy McVeigh. She also assisted Supreme Court Justice Brett Kavanaugh in 2018 after he was accused of sexually assaulting Christine Blasey Ford in the 1980s. Sullivan has been given until June 1 to respond to the appeals court’s order to explain his conduct. The judges at appeal will also hear arguments from Flynn’s team as to why they believe Sullivan should be dismissed from the case.

https://twitter.com/i/status/1259825319126749185

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Lovely from my good mate Steve in Thailand. Do read the whole piece.

Personal #Coronavirus Update 03 May 23rd 2020 (Steve Keen)

It has certainly been eliminated in the province we’re living in, Trang (in the capital city of the same name). There were 3 cases here when we arrived in Thailand, then 4, 6 and finally 7—all from one family so I’m told, of a 24-year-old who had been working in Phuket. Phuket is a major tourist destination, and has had a total of 224 cases out of a population of 420,000—or about 1 case per 2000 residents (that’s about half as bad as The Netherlands). The province of Trang has had 7 cases amongst it 700,000 residents—or 1 case per 100,000. The last new case was over a month ago. All the most recent cases have been in Bangkok, a sprawling city of 8 million that I was sure would be a viral hotspot. Instead, it has recorded just 1548 cases: about 19 cases per 100,000, versus 260 per hundred thousand in the Netherlands and close to 400 in the UK.

The personal impact of this is palpable. Even though people are still practicing personal caution here, the mood is relaxed: you’re no longer afraid of your fellow human being. I noticed this at a restaurant earlier this week, when the owner came up and clinked glasses with us over a meal. Even a month ago, that was unthinkable. Now, it feels like old times—as in, like six months ago. I wouldn’t even have noted such an event back then. Now, it’s significant. I feel like someone who almost drowned, noticing the air in a way that everyone else takes for granted. Thailand won’t let this relaxed mood lead to a resurgence of cases, however. It is still locking down provinces—you can’t travel from one to another without a health clearance, a good reason to travel (tourism doesn’t qualify!), and a clearance to travel from the provincial government; you have to scan a QR code when you enter and leave a shop, to enable case tracking; everyone everywhere wears a mask when they are in contact with people they don’t know

[..] So I find myself in part of the world that is virus-free, and watching a New World Order evolve that no-one anticipated—not even Huxley or Orwell. It’s a “fractured planet”, with two enormously disparate fractions: China, Southeast Asia and Oceania in the “virus free” segment, and the rest of the world in the “virus afflicted”. I’m glad to be in the virus-free part, but I do have some trepidation about the future politics of this block, in which China is by far the major power economically and militarily.


The “winners and losers” from EndCoronavirus.org at https://www.endcoronavirus.org/map-visualization

That worry aside, I’m relaxed and working well, though enormously behind on numerous projects thanks to the time I lost in the move. Initially, getting settled here took total precedence: finding a place to rent (we rapidly located an unfurnished 4 bedroom house in a gated community on the outskirts of Trang, for US$300 a month), furnishing it, buying the essentials for mobility in a region where the temperature never drops below 24°C and frequently hits 37°C (a car, motorbike, and bicycles for exercise before the sun rises too high). That took about six weeks all up. It came after spending two weeks visiting my family in Sydney for what I was sure would be the last time for at least a year, after working with Russell Standish on Minsky for two weeks in late February. All of March, all of April, and part of May was thus lost to the personal impact of the virus. I finally got down to solid work about two weeks ago.

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Support the Automatic Earth in virustime.

 

Apr 242020
 


Banksy Girl With a Pierced Eardrum (and face mask) 2020

 

Americans Prioritize Staying Home, Worry Restrictions Will Lift Too Fast (CBS)
Doctors Rethink Rush To Ventilate (R.)
First Known US COVID19 Death Occurred On Feb. 6 In Santa Clara County (SFC)
Chinese Scientists ‘Unable To Judge’ If US Lab Is Virus Source (Global Times)
House Passes $484 Billion Coronavirus Relief Package (Hill)
Fed Balance Sheet Increases To Record $6.62 Trillion (R.)
No, Trump Did Not Put A Labradoodle Breeder In Charge Of Covid19 Response (DN)
Lawmaker Who Thanked Trump To Face Censure Vote From Michigan Democrats (JTN)
News Outlets Have Received Millions In Forgivable Stimulus Loans (JTN)
Ousted US Health Official To File Whistleblower Complaint (R.)
WTO Report Says 80 Countries Limiting Exports Of Face Masks, Other Gear (R.)
Biden Campaign’s Outside Economic Advisers Include Larry Summers (R.)
Steele Testified Emails Were Wiped, No Docs Related To Primary Source (DC)
Insect Numbers Down 25% Since 1990 (G.)
Banksy’s ‘Girl with a Pierced Eardrum’ Gains A Coronavirus Face Mask (R.)

 

 

• US records 3,176 #coronavirus deaths in 24 hours – total fatalities near 50,000: Johns Hopkins tally

• The US has 866,646 confirmed cases, up 26,971 from the previous day

 

 

Yaneer Bar-Yam
@yaneerbaryam

• Our Getting to Zero list:
Yesterday new cases:
South Korea +11
Greece +7
Iceland +7
Estonia +7
Australia +4
Hong Kong +4
New Zealand +3
Jordan +2
Taiwan +1
Vietnam 0

 

 

 

Cases 2,745,469 (+ 89,078 from yesterday’s 2,656,391)

Deaths 191,791 (+ 6,635 from yesterday’s 185,156 )

 

 

 

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

 

 

From Worldometer – NOTE: among Active Cases, Serious or Critical fell to 3%. Among Closed Cases, Deaths have fallen to 20%

 

 

From SCMP:

 

 

From COVID19Info.live: Note: Turkey, Russia, UK are the biggest risers

 

 

 

 

Or maybe it’s simply too soon?

Americans Prioritize Staying Home, Worry Restrictions Will Lift Too Fast (CBS)

Health concerns still take precedence over economic concerns by a wide margin for Americans in their views on when to reopen the economy — both in what they want for the nation, and in what they’d do themselves. Many say they need to be confident the coronavirus outbreak is over before returning to public places, and big majorities of all partisans agree the stay-at-home orders are effective. The health concerns may be so salient that even for those whose finances have been impacted and even for those concerned about job loss, most of them still worry the country will open up too fast. 63% of Americans are more worried about restrictions lifting too fast and worsening the outbreak — than worry about lifting restrictions too slowly and worsening the economy.

And what would Americans actually do if restrictions were lifted right now? Would anyone show up to public places or would they be too worried about health risks? That could be the most important factor in the economy. Only 13% say they would definitely return to public places over the next few weeks if restrictions were lifted right now, regardless of what else happened with the outbreak. Almost half — 48% — say they would not return to public places until they were confident the outbreak was over. Another 39% are “maybes”: they’d return depending on whether they saw the outbreak getting better. These views are not decidedly partisan: most Republicans are “maybes” at best, as are most Democrats and independents.

Small numbers for specific things:
• Only 13% would be comfortable going to a large sports or entertainment event.
• Only 15% would be comfortable getting on an airplane.
• 29% would be comfortable going to restaurants or bars.

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Just a few lines from a long Reuters piece, which leaves you realizing there are as many doctors and studies as there are opinions. And when you read that in some cases 90% of people put on ventilators die, it’s obvious some people got some things pretty wrong.

Doctors Rethink Rush To Ventilate (R.)

Luciano Gattinoni, a guest professor at the Department of Anaesthesiology, Emergency and Intensive Care Medicine, University of Göttingen in Germany, and a renowned expert in ventilators, was one of the first to raise questions about how they should be used to treat COVID-19. “I realised as soon as I saw the first CT scan … that this had nothing to do with what we had seen and done for the past 40 years,” he told Reuters. In a paper published by the American Thoracic Society on March 30, Gattinoni and other Italian doctors wrote that COVID-19 does not lead to “typical” respiratory problems. Patients’ lungs were working better than they would expect for ARDS, they wrote – they were more elastic. So, he said, mechanical ventilation should be given “with a lower pressure than the one we are used to.”

Ventilating some COVID-19 sufferers as if they were standard patients with ARDS is not appropriate, he told Reuters. “It’s like using a Ferrari to go to the shop next door, you press on the accelerator and you smash the window.” The Italians were swiftly followed by Cameron Kyle-Sidell, a New York physician who put out a talk on YouTube saying that by preparing to put patients on ventilators, hospitals in America were treating “the wrong disease.” Ventilation, he feared, would lead to “a tremendous amount of harm to a great number of people in a very short time.” This remains his view, he told Reuters this week. When Spain’s outbreak erupted in mid-March, many patients went straight onto ventilators because lung X-rays and other test results “scared us,” said Delia Torres, a physician at the Hospital General Universitario de Alicante.

They now focus more on breathing and a patient’s overall condition than just X-rays and tests. And they intubate less. “If the patient can get better without it, then there’s no need,” she said. In Germany, lung specialist Voshaar was also concerned. A mechanical ventilator itself can damage the lungs, he says. This means patients stay in intensive care longer, blocking specialist beds and creating a vicious circle in which ever more ventilators are needed. Of the 36 acute COVID-19 patients on his ward in mid-April, Voshaar said, one had been intubated – a man with a serious neuro-muscular disorder – and he was the only patient to die. Another 31 had recovered.

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The virus was in the US in January.

First Known US COVID19 Death Occurred On Feb. 6 In Santa Clara County (SFC)

A person who died at home in Santa Clara County on Feb. 6 was infected with the coronavirus at the time of death, a stunning discovery that makes that individual the first recorded COVID-19 fatality in the United States, according to autopsy results released by public health officials late Tuesday. That death — three weeks before the first fatality was reported in the U.S., in Washington state on Feb. 28 — adds to increasing evidence that the virus was in the country far earlier than once thought. Santa Clara County on Tuesday announced three previously unidentified deaths from the coronavirus: the Feb. 6 case; one on Feb. 17, which also predates the death that was earlier believed to be the first; and one on March 6. Initially, the first death in the county had been reported March 9.

“What it means is we had coronavirus circulating in the community much earlier than we had documented and much earlier than we had thought,” said Dr. Sara Cody, Santa Clara County’s public health officer. “Those deaths probably represent many, many more infections. And so there had to be chains of transmission that go back much earlier.” Cody did not provide details about the people who died in February but said the deaths “tell us we had community transmission – probably significant community transmission – far before we realized it and documented it.” “From what we understand, neither of the cases had a history of travel,” Cody said. “So we assume that they were acquired locally.”

People typically die of COVID-19 about a month after they are infected with the coronavirus, suggesting that the person who died Feb. 6 likely was infected in early January. At that time, the virus had been reported only in China — the U.S. Centers for Disease Control and Prevention had not yet issued any advisories to Americans about the potential threat.

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Predictably, Chinese state media strike back. What caught my eye is:

“..infected more than 2.6 million Americans with nearly 20,000 deaths as of 4:30 pm Thursday.”

Worldometer, as I write this, says 886,000 infections and 50,000 deaths.

Chinese Scientists ‘Unable To Judge’ If US Lab Is Virus Source (Global Times)

Responding to viral reports alleging that the novel coronavirus was leaked from a US military biochemical laboratory, Chinese scientists said that they could not make a judgment on the allegation, as the US had not given any public response on the issue. Shi Yi, a research fellow from the Institute of Microbiology, Chinese Academy of Sciences, made the remarks at a press conference Thursday, noting that the origin of the virus is a scientific issue requiring a long period of research and involves a great deal of uncertainty. The remarks came amid circulating reports alleging that the Fort Detrick laboratory, which handles high-level disease-causing materials such as Ebola, in Fredrick, Maryland, may be the origin of the deadly novel coronavirus, which has infected more than 2.6 million Americans with nearly 20,000 deaths as of 4:30 pm Thursday.


The lab was ordered to shut down in July 2019, reportedly for multiple causes, including failure to follow local procedures and a lack of periodic recertification training for workers in the biocontainment laboratories. Some other posts on social media platforms also alleged that a US armed diplomatic driver and cyclist who was in Wuhan in October 2019 for the cycling competition in the Military World Games, could be patient zero for COVID-19 in Wuhan. Netizens from both China and the US have called on the US government to respond to public concerns over the above mentioned issues. Some have even launched a petition on the White House website, but the US government has not made any comment so far.

Read more …

The US political system is inherently incapable of getting this right. Not going to happen.

House Passes $484 Billion Coronavirus Relief Package (Hill)

The House on Thursday voted overwhelmingly to pass legislation providing roughly $484 billion in coronavirus relief for small businesses, hospitals and expanded medical testing, capping weeks of contentious negotiations that had stalled Washington’s latest round of emergency aid. The vote was 388-5-1, with four conservative Republicans breaking with GOP leaders to oppose the measure, citing its effect on federal deficit. Rep. Alexandria Ocasio-Cortez (D-N.Y.) also voted against the measure, while Rep. Justin Amash (I-Mich.) voted present. The four Republicans who voted “no” were House Freedom Caucus Chairman Andy Biggs (Ariz.) and Reps. Ken Buck (Colo.), Jody Hice (Ga.) and Thomas Massie (Ky.).


The legislation, which the Senate passed unanimously on Tuesday, now goes to the desk of President Trump, who has promised to sign it quickly into law. The massive package is the fourth coronavirus bill to move through Congress over the last seven weeks, and brings the federal response to the global pandemic up to a whopping $2.8 trillion — by far the largest emergency relief effort in modern U.S. history. It came after two weeks of tense talks between the White House, led by Treasury Secretary Steven Mnuchin and the top Democrats in both chambers, Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles Schumer (D-N.Y.), over the scope and direction of the latest infusion of emergency funds.

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By now fully meaningless numbers for 99% of the population.

Fed Balance Sheet Increases To Record $6.62 Trillion (R.)

The Federal Reserve’s balance sheet increased to a record $6.62 trillion this week as the central bank used its nearly unlimited buying power to soak up assets to keep markets functioning amid an abrupt economic free fall due to the coronavirus pandemic. Since early March, the Fed has slashed interest rates to zero, restarted bond purchases and rolled out an unprecedented range of programs to keep credit flowing and shore up business and household confidence. The central bank’s balance sheet as of Wednesday rose about $200 billion from $6.42 trillion a week earlier. That is up from just $4.29 trillion in the first week of March. It is now the equivalent of roughly 30% of the size of the U.S. economy before the crisis struck, and will certainly grow larger in the weeks ahead as the Fed keeps piling on assets and the economy shrinks.


The central bank continued to snap up Treasury securities, mortgage bonds and other assets, according to data released on Thursday. The Fed’s holdings of mortgage-backed securities rose to $1.62 trillion from $1.57 trillion. Treasury holdings rose to $3.91 trillion from $3.79 trillion. Use of the Fed’s central bank liquidity swap lines, which allow foreign central banks to exchange their local currencies for dollars, rose to $409.7 billion on Wednesday from $378.3 billion the previous week. Loan balances for the Fed’s discount window, its last-resort lending program for banks, fell to $33.7 billion from $36.3 billion a week ago.

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Worked for CNN though. They need new stories every day, or people will switch off.

No, Trump Did Not Put A Labradoodle Breeder In Charge Of Covid19 Response (DN)

No, the Trump administration did not put a professional dog breeder from Dallas in charge of COVID-19 response. Yes, the chief of staff at the Department of Health and Human Services briefly owned a family business raising Labradoodles. But he’s also served three administrations in high level posts at HHS, the White House and the Pentagon. Colleagues who hired Harrison and served with him in government were appalled to see him disparaged Thursday as a mere “dog breeder,” as if Joe Exotic had catapulted from tiger king to head of the Centers for Disease Control and Prevention.


“This is so silly. He went home and worked in a family business,” said Jack Kalavritinos, who served with Harrison at HHS during the administrations of both George W. Bush and President Donald Trump, most recently as director for intergovernmental and external affairs, working on the opioid crisis and drug prices. “Brian was a no-brainer pick,” said another colleague, Michael Reilly, who hired Harrison for his first job at HHS under Bush. “His private sector experience is irrelevant.…He was a complete known commodity who had extensive experience.” Trump’s irritation with Harrison’s current boss, Secretary Alex Azar, has been apparent for months and some confidants suspect that he’s has gotten caught in the crossfire of a classic Washington ritual: finger pointing.

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“At the end of the day, we have political systems,” Jonathan Kinloch, district chair of Michigan 13th Congressional District Democratic Party said according to The Detroit News. “We have political parties, and political parties exist for a reason.”

Lawmaker Who Thanked Trump To Face Censure Vote From Michigan Democrats (JTN)

Michigan Democratic state Rep. Karen Whitsett, publicly expressed her gratitude toward President Trump for her coronavirus recovery, and now she is facing possible censure from her fellow Democrats. Whitsett has indicated that the president may have helped save her life by publicly discussing the drug hydroxychloroquine, which she says helped her to recover. The Detroit Free Press reported that when questioned about “whether she thinks Trump may have saved her life, Whitsett said: ‘Yes, I do,’ and ‘I do thank him for that.'” Whitsett earlier this month met with the president at a meeting of coronavirus survivors and expressed her gratitude. “At the end of the day, we have political systems,” Jonathan Kinloch, district chair of Michigan 13th Congressional District Democratic Party said according to The Detroit News.


“We have political parties, and political parties exist for a reason.” “I’m a Democrat, and I plan on continuing to be a Democrat, but they will change their ways,” Whitsett said according to the outlet. “I have my First Amendment right, and no one will take that away from me.” The Detroit News reports that one of the items mentioned in the resolution to censure Whitsett says she “‘has repeatedly and publicly praised the president’s delayed and misguided COVID-19 response efforts in contradiction with the scientifically based and action-oriented response’ from Michigan’s Democratic leadership, ‘endangering the health, safety and welfare of her constituents, the city of Detroit and the state of Michigan.'”

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Shouldn’t they be able to sell more papers? If not now, when?

News Outlets Have Received Millions In Forgivable Stimulus Loans (JTN)

News outlets are receiving tens-of-millions in federal stimulus money as part of the $2.2 trillion coronavirus stimulus package that President Trump signed into law, among them such venerable newspapers as The Seattle Times and Tampa Bay Times. The money is coming through forgivable Paycheck Protection Program loans under the CARES Act that Congress passed last month. According to the Small Business Administration, businesses with under 500 employees can apply for PPP loans, which are forgivable if they are used for qualifying expenses such as payroll costs and rent. However, it’s unclear whether any of the news outlets intend to repay the money, or how much they’ll repay.


The Tampa Bay newspaper, which received an $8.5 million loan, told Just the News on Thursday that its chairman and CEO, Paul Tash, says the federal government will “likely forgive much of the loan” and that the “remaining balance” will carry an interest rate of 1 percent. The Seattle Times received a $9.9 million PPP forgivable loan from the federal government. In its voluntary announcement of the loan, the Seattle Times stated that the loan is forgivable but didn’t specify whether the company plans to repay any of the money. The paper did not respond to a request for comment before publication. The media outlet Axios, based in Arlington, Va., disclosed that it had received a forgivable PPP loan of roughly $5 million. Axios did not respond when asked if it plans to repay the loan.

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Why has the word whistleblower been injected here? Wrongful dismissal doesn’t sound catchy enough?

Ousted US Health Official To File Whistleblower Complaint (R.)

Lawyers for the ousted director of a U.S. agency responsible for the development of drugs to fight the COVID-19 pandemic said on Thursday he will file a whistleblower’s complaint with two government offices over his reassignment. Rick Bright said on Wednesday he was replaced as director of the Biomedical Advanced Research and Development Authority, or BARDA, because he resisted the Trump administration’s efforts to push hydroxychloroquine and the related chloroquine as cures for COVID-19, the respiratory illness caused by the coronavirus. U.S. President Donald Trump has repeatedly touted the malaria drugs as a treatment for coronavirus though few studies suggest a possible benefit.


“In our filing we will make clear that Dr. Bright was sidelined for one reason only — because he resisted efforts to provide unfettered access to potentially dangerous drugs, including chloroquine, a drug promoted by the administration as a panacea, but which is untested and possibly deadly when used improperly,” his lawyers said in a statement. His lawyers said they will file the complaint with the Office of Special Counsel and the Department of Health and Human Services’ Inspector General. Bright hopes he will be reinstated in his post at BARDA once the facts of the case become known, his lawyers said. The Office of Special Counsel, an independent U.S. government agency, investigates and can prosecute abuses against federal employees.

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Wonder how this will evolve when food gets scarce.

WTO Report Says 80 Countries Limiting Exports Of Face Masks, Other Gear (R.)

Eighty countries and customs territories have banned or limited the export of face masks, protective gear, gloves and other goods to mitigate shortages since the coronavirus outbreak began, the World Trade Organization reported on Thursday. It said the bans were imposed by 72 WTO members and eight non-WTO member countries, but only 13 WTO members had notified the global trade body as required by its regulations. Lack of transparency about restrictions and failure to cooperate internationally could undermine efforts to slow the spread of the COVID-19 disease, which has infected 2.64 million people around the world and killed 184,910, the WTO said.


“While the introduction of export-restrictive measures is understandable, the lack of international cooperation in these areas risks cutting off import-reliant countries from desperately needed medical products and triggering a supply shock,” the WTO report said. “And by interfering with established medical supply chains, such measures also risk hampering the urgently required supply response.” Export bans and restrictions are generally prohibited in the WTO, although there are exceptions which allow temporary measures to “prevent or relieve critical shortages of foodstuffs or other products essential to the exporting contracting party.” Travel restrictions had already slowed the flow of goods needed to fight the pandemic, but export restrictions made it difficult for governments and businesses to adjust purchasing decisions and find new suppliers, the report said.

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As someone remarked: Jeffrey Epstein wasn’t available.

Biden Campaign’s Outside Economic Advisers Include Larry Summers (R.)

Former U.S. Treasury Secretary Larry Summers, an academic and longtime economic aide to Democratic presidents, is among the people now advising Joe Biden’s presidential campaign, according to two people familiar with the matter. Summers is a renowned economist with long ties to presidential administrations, including Barack Obama’s. Biden, the presumptive Democratic nominee, served as Obama’s vice president. Summers is viewed critically by some liberals, who view his policy prescriptions as too centrist. Dozens of economic and public health policy officials are briefing Biden ahead of the Nov. 3 election, when Republican President Donald Trump hopes to win a second term.


If he is elected, Biden would be faced with a U.S. economy scarred by a pandemic that has brought large segments to a standstill, forced more than 26 million people to seek unemployment benefits since March 21, and raised the prospect of job losses not seen since the Great Depression of the 1930s. Before then, Biden has to bring together his own party behind his candidacy, including liberals who once backed Senators Bernie Sanders and Elizabeth Warren. The two senators have both endorsed Biden, but it is not clear how many of their supporters will turn out to vote for Biden. [..] “Joe Biden’s will be the most progressive agenda of any president in generations, and he looks forward to his continuing engagement with progressive leaders to build on his existing policies and further the bold goals driving his campaign,” [an] adviser said.

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Simple question: who did the wiping and deleting?

Steele Testified Emails Were Wiped, No Docs Related To Primary Source (DC)

The former MI6 officer made the disclosures during a March 17-18 deposition in a defamation case related to the dossier. The DCNF obtained a transcript of the deposition. Steele suggested in a Dec. 10 statement that he had evidence that would shed light on what his main dossier source told him back in 2016, when Steele was working for the firm Fusion GPS to investigate the Trump campaign. Steele’s statement was a response to an IG report released the day before that said that Steele’s source — dubbed the “Primary Sub-Source” — told the FBI in January 2017 that Steele misrepresented or embellished information in the dossier. That bombshell severely undermined Steele’s report, which the FBI used as part of its investigation into the Trump campaign.

In a rebuttal to the IG, Steele’s lawyers disputed what the dossier source purportedly told the FBI, and said that the source’s debriefings to Steele “were meticulously documented and recorded.” They also asserted that if Steele had been given a chance to respond to the IG report, “the statements by the ‘Primary Sub-Source’ would be put in a different light.” It is unclear if Steele made audio or video recordings of the debriefings with the source, or if the retired spy was referring to written or electronic documents. It is also unclear whether Steele got rid of the information himself, or if it was lost through other means. Steele’s lawyer did not respond to a request for comment.

The status of the information was revealed during an exchange Steele had on March 18 with Hugh Tomlinson, a lawyer for Petr Aven, German Khan, and Mikhail Fridman, the owners of Alfa Bank. The three Russian bankers are suing Steele for defamation over a memo in the dossier that accused them of making illicit payments to Vladimir Putin. Tomlinson pressed Steele over the accuracy of his memo, as well as his relationship with “Primary Sub-Source,” the transcript shows. The lawyer asked Steele about the existence of the documents and recordings that his attorneys mentioned in their rebuttal to the IG report. “But none of these documents exist, so they have all been destroyed?” a lawyer asked Steele. “They no longer exist,” Steele said.

Steele indicated that many other records related to the dossier were deleted, including from a personal email account he used for the Fusion GPS project. “As I understand your position, you have no contemporaneous notes or emails, save for your notes of interactions with the FBI; is that right?” Tomlinson asked. “I believe that is true, yes,” Steele replied. Steele said he had no records related to the creation of his dossier memos, including “Report 112” from the dossier, which dealt with the Alfa Bank owners. “You have no record of anything, have you?” Tomlinson asked. “I haven’t got any records relating to the creation of 112,” said Steele.

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So 75% in Germany, France, but only a third of that overall? Anything to do with population density?

Insect Numbers Down 25% Since 1990 (G.)

The biggest assessment of global insect abundances to date shows a worrying drop of almost 25% in the last 30 years, with accelerating declines in Europe that shocked scientists. The analysis combined 166 long-term surveys from almost 1,700 sites and found that some species were bucking the overall downward trend. In particular, freshwater insects have been increasing by 11% each decade following action to clean up polluted rivers and lakes. However, this group represent only about 10% of insect species and do not pollinate crops. Researchers said insects remained critically understudied in many regions, with little or no data from South America, south Asia and Africa.

Rapid destruction of wild habitats in these places for farming and urbanisation is likely to be significantly reducing insect populations, they said. Insects are by far the most varied and abundant animals, outweighing humanity by 17 times, and are essential to the ecosystems humanity depends upon. They pollinate plants, are food for other creatures and recycle nature’s waste. The previous largest assessment, based on 73 studies, led scientists to warn of “catastrophic consequences for the survival of mankind” if insect losses were not halted. Its estimated rate of decline was more than double that in the new study. Other experts estimate 50% of insects have been lost in the last 50 years. Recent analyses from some locations have found collapses in insect abundance, such as 75% in Germany and 98% in Puerto Rico.

The new, much broader study found a lower rate of losses. However, Roel van Klink, of the German Centre for Integrative Biodiversity Research in Leipzig, who led the research, said: “This 24% is definitely something to be concerned about. It’s a quarter less than when I was a kid. One thing people should always remember is that we really depend on insects for our food.” The research, published in the journal Science, also examined how the rate of loss was changing over time. “Europe seems to be getting worse now – that is striking and shocking. But why that is, we don’t know,” said van Klink. In North America, the declines are flattening off, but at a low level.

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Ever seen him do anything wrong?

Banksy’s ‘Girl with a Pierced Eardrum’ Gains A Coronavirus Face Mask (R.)

Banksy’s “Girl with a Pierced Eardrum” has been updated for the coronavirus era with the addition of a blue surgical face mask. The mural, a take on Dutch artist Johannes Vermeer’s “Girl with a Pearl Earring” but with a security alarm replacing the pearl, was painted on a harbourside building in the street artist’s home city of Bristol in west England in 2014. It is not known whether Banksy, whose identity is a closely guarded secret, or somebody else attached the fabric face mask to the painted girl.


The newly adorned mural did not appear on Banksy’s Instagram page where he usually posts images of his work. The COVID-19 pandemic has already inspired the artist. He unveiled a scene of his trademark stencilled rats running amok in a bathroom rather than on the streets last week, reflecting official advice form the British government to stay at home. “My wife hates it when I work from home,” he commented alongside the photos.

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

Thanks for your generosity.

 

 

From Upton Sinclair’s 1927 book “Oil!”, which inspired the movie There Will Be Blood

 

 

 

 

 

 

 

Support the Automatic Earth for your own good.

 

Apr 172020
 


Dorothea Lange American River camp, Sacramento, CA. Destitute family. 5 children, aged 2 to 17 years 1936

 

China Didn’t Warn Public Of Likely Pandemic For 6 Key Days (AP)
US Alerted Israel, NATO To Disease Outbreak In China In November (ToI )
Wuhan Death Toll Up By 50% As 1,290 ‘Delayed & Omitted’ Fatalities Added (RT)
Men Are Much More Likely To Die From Coronavirus. Why? (G.)
France Summons Chinese Envoy Over Criticism Of COVID19 response (RT)
Chinese Economy Shrank For The First Time Since 1976 In Q1 (SCMP)
Biophysical Economics and the Coronavirus Pandemic (Fix)
22 Million New Jobless Claims, 9.2 Million Lost Health Care In Past Month (NBC)
43,000 US Millionaires Will Get ‘Stimulus’ Averaging $1.6 Million Each (NYP)
Fed Just Jawboning, Massively Tapered QE-4, Hasn’t Bought Any Junk Bonds (WS)
Cut Military Spending To Fund Human Security – Gorbachev (RT)
Chinese Airlines Poised For Post-Coronavirus ‘Revenge Travelling’ (SCMP)
Greece to Celebrate Easter Under Coronavirus Lockdown (GR)
Russiagate Godfather Obama Promotes NYTimes’ “Putin + Covid-19” (RT)
Roger Stone Denied Bid For New Trial (G.)
Surviving Plague in an Early Modern City (Henderson)

 

 

Well, I now know Taleb read my essay. And he likes it. Shame he linked to Yves’ repost, not the original at the Automatic Earth.

 

 

• US new cases 29,567

• US new deaths 2,174

 

• Revised COVID-19 death toll for New York City: 10,367

• Total US military death toll for Iraq War: 4,424.

 

 

Note: both cases and deaths jump by a lot today. It’s not just the Wuhan deaths number revised up by 1,290.

 

Cases 2,193,558 (+ 98,674 from yesterday’s 2,094,884)

Deaths 147,378 (+ 11,809 from yesterday’s 135,569)

 

 

 

From Worldometer yesterday evening -before their day’s close- (Note: Brazil and Russia keep climbing fast)

 

 

From Worldometer – NOTE: mortality rate for closed cases remains at 21% –

 

 

From SCMP:

 

 

From COVID19Info.live: (Belgium in first place worldwide of deaths per million at 445, 14.3% CFR, before Spain, Italy, France and UK.)

 

 

 

 

Jan. 14 to Jan. 20 was already late in the game.

China Didn’t Warn Public Of Likely Pandemic For 6 Key Days (AP)

In the six days after top Chinese officials secretly determined they likely were facing a pandemic from a new coronavirus, the city of Wuhan at the epicenter of the disease hosted a mass banquet for tens of thousands of people; millions began traveling through for Lunar New Year celebrations. President Xi Jinping warned the public on the seventh day, Jan. 20. But by that time, more than 3,000 people had been infected during almost a week of public silence, according to internal documents obtained by AP and expert estimates based on retrospective infection data. Six days. That delay from Jan. 14 to Jan. 20 was neither the first mistake made by Chinese officials at all levels in confronting the outbreak, nor the longest lag, as governments around the world have dragged their feet for weeks and even months in addressing the virus.

But the delay by the first country to face the new coronavirus came at a critical time — the beginning of the outbreak. China’s attempt to walk a line between alerting the public and avoiding panic set the stage for a pandemic that has infected more than 2 million people and taken more than 133,000 lives. “This is tremendous,” said Zuo-Feng Zhang, an epidemiologist at the University of California, Los Angeles. “If they took action six days earlier, there would have been much fewer patients and medical facilities would have been sufficient. We might have avoided the collapse of Wuhan’s medical system.” Other experts noted that the Chinese government may have waited on warning the public to stave off hysteria, and that it did act quickly in private during that time.

But the six-day delay by China’s leaders in Beijing came on top of almost two weeks during which the national Center for Disease Control did not register any cases from local officials, internal bulletins obtained by the AP confirm. Yet during that time, from Jan. 5 to Jan. 17, hundreds of patients were appearing in hospitals not just in Wuhan but across the country. [..] The punishment of eight doctors for “rumor-mongering,” broadcast on national television on Jan. 2, sent a chill through the city’s hospitals. “Doctors in Wuhan were afraid,” said Dali Yang, a professor of Chinese politics at the University of Chicago. “It was truly intimidation of an entire profession.”

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May not be coronavirus, though. In November, Beijing hospitals reported three instances of pneumonic plague (transmitted by fleas, not a virus) in people coming from Inner Mongolia:

US Alerted Israel, NATO To Disease Outbreak In China In November (ToI )

US intelligence agencies alerted Israel to the coronavirus outbreak in China already in November, Israeli television reported Thursday. According to Channel 12 news, the US intelligence community became aware of the emerging disease in Wuhan in the second week of that month and drew up a classified document. Information on the disease outbreak was not in the public domain at that stage — and was known only apparently to the Chinese government. US intelligence informed the Trump administration, “which did not deem it of interest,” but the report said the Americans also decided to update two allies with the classified document: NATO and Israel, specifically the IDF.

The network said Israeli military officials later in November discussed the possibility of the spread of the virus to the region and how it would affect Israel and neighboring countries. The intelligence also reached Israel’s decision makers and the Health Ministry, where “nothing was done,” according to the report. Last week, ABC News reported that US intelligence officials were warning about the coronavirus in a report prepared in December by the American military’s National Center for Medical Intelligence. It was unclear if that was the same report that was said to have been shared with Israel. In its first major step to prevent the spread of the coronavirus, Israel announced on January 30 it was barring all flights from China, ten days after Chinese leader Xi Jinping issued his first public comments on the virus and the Asian country’s top epidemiologist said for the first time it could be spread from person to person.

An Associated Press report on Wednesday said Xi’s warning came seven days after Chinese officials secretly determined that they were likely facing a pandemic, potentially costing China and other countries valuable time to prepare for the outbreak. Doctors in Wuhan, the city at the center of the outbreak in China, are reported to have first tried to have warn about the virus in December, but were censored.

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Many countries should follow suit. Hidden deaths are everywhere, and the incentive to report them is mostly lacking.

Holland just reported the 2nd week in a row with 2,000 more deaths than usual, but their testing is still terribly deficient.

Wuhan Death Toll Up By 50% As 1,290 ‘Delayed & Omitted’ Fatalities Added (RT)

The Chinese city of Wuhan – ground zero for the coronavirus pandemic – has revised its fatality count, increasing the total by just shy of 1,300 deaths, which officials say went unreported due to “delays” and “omissions.” Authorities in Wuhan added another 1,290 deaths to the city’s death toll on Friday, putting the overall figures at 50,333 infections and 3,869 fatalities in the virus’ first epicenter. The revision was necessary to “address incorrect reporting, delays and omissions of cases,” city officials said, with the new numbers increasing Wuhan’s death tally by some 50%. “In the early stage of the epidemic, due to insufficient capacity for admission and treatment, a small number of medical institutions failed to connect with the disease prevention and control information system in a timely manner,” Wuhan health officials said, adding that a “statistical investigation” had been conducted to correct the figures.

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More things we don’t know.

Men Are Much More Likely To Die From Coronavirus. Why? (G.)

Early on, smoking was suggested as a likely explanation. In China, nearly 50% of men but only about 2% of women smoke, and so underlying differences in lung health were assumed to contribute to men suffering worse symptoms and outcomes. The smoking hypothesis was backed by a paper, published last month, that found smokers made up about 12% of those with less severe symptoms, but 26% of those who ended up in intensive care or died. Smoking might also act as an avenue for getting infected in the first place: smokers touch their lips more and may share contaminated cigarettes. Behavioural factors that differ across genders may also have a role. Some studies have shown that men are less likely to wash their hands, less likely to use soap, less likely to seek medical care and more likely to ignore public health advice.

These are sweeping generalisations, but across a population could place men at greater risk. However, there is a growing belief among experts that more fundamental biological factors are also at play. While there are higher proportions of male smokers in many countries – in the UK, 16.5% of men smoke compared with 13% of women – the differences are nowhere near as extreme as in China. But men continue to be overrepresented in Covid-19 statistics. “The growing observation of increased mortality in men is holding true across China, Italy, Spain. We’re seeing this across very diverse countries and cultures,” said Sabra Klein, a professor at Johns Hopkins Bloomberg School of Public Health. “When I see that, it makes me think that there must be something universal that’s contributing to this. I don’t think smoking is the leading factor.”

Previous research, including by Klein, has revealed that men have lower innate antiviral immune responses to a range of infections including hepatitis C and HIV. Studies in mice suggest this may also be true for coronaviruses, though Covid-19 specifically has not been studied. “Their immune system may not initiate an appropriate response when it initially sees the virus,” Klein said. Hormones can also play a role – oestrogen has been shown to increase antiviral responses of immune cells. And many genes that regulate the immune system are encoded on the X chromosome (of which men have one, and women have two) and so it is possible that some genes involved in the immune response are more active in women than in men.

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The embassy talked about France leaving elderly patients “to die of hunger and disease.”

France Summons Chinese Envoy Over Criticism Of COVID19 response (RT)

Paris has summoned its Chinese envoy after the embassy published a blistering critique of the West’s response to the Covid-19 crisis, accusing leaders of failing to act and abandoning vulnerable citizens to death and starvation. “Certain publicly voiced opinions by representatives of the Chinese Embassy in France are not in line with the quality of the bilateral relations between our two countries,” Foreign Minister Jean-Yves Le Drian said in a statement late on Tuesday, calling on Ambassador Lu Shaye to answer for an article published on the Chinese Embassy website over the weekend.

Entitled ‘Restoring distorted facts,’ the lengthy post – which listed no author – tore into the US and European governments for their handling of the pandemic, while defending Beijing from accusations of concealing information and of a sluggish response. “In the West, we have seen politicians tearing themselves apart to recover votes; advocate herd immunity, thus abandoning their citizens alone in the face of the viral massacre.” The article claimed that some nursing homes had been “deserted,” leaving elderly patients “to die of hunger and disease.”

The post also took aim at Western news outlets, “which take themselves for paragons of impartiality and objectivity,” yet appear to care more about “slandering, stigmatizing and attacking China” than covering the raging health crises in their own countries. “Do these media and these experts, so fond of objectivity and impartiality, have a conscience? Do they have ethics?” Responding to the blustery article, the French FM insisted “there is no room for polemics” amid the Covid-19 pandemic, stating he made his “disapproval” clear to Lu and that France and other nations must pursue “unity, solidarity and the greatest international cooperation.”

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What a surprise.

Chinese Economy Shrank For The First Time Since 1976 In Q1 (SCMP)

China’s economy shrank by 6.8 per cent in the first quarter of 2020, the first contraction since the end of the Cultural Revolution in 1976, confirming the economic damage done by the coronavirus pandemic. Over the first three months of the year, the world’s second largest economy faced an extensive shutdown as it battled to contain the spread of the coronavirus, and has subsequently struggled to fully reopen. New data released by the National Bureau of Statistics (NBS) on Friday confirmed the slump, which was worse than predictions of minus 6.0 per cent from a survey of analysts’ forecasts by Bloomberg. NBS data also showed that over the single month of March the economy remained under huge pressure, with the industrial sectors, retail and fixed asset investment all shrinking again, following a dramatic collapse over the first two months of the year.


Industrial production, a gauge of manufacturing, mining and utilities, fell by 1.1 per cent last month, after a 13.5 per cent decline over January and February, when the data was combined. This was much better than expectations of a 6.2 per cent decline, according to the Bloomberg survey. Within that, however, manufacturing contracted by 10.2 per cent, suggesting that even as factories reopen, headwinds remain. Retail sales, a key measurement of consumption in the world s most populous nation, fell by 15.8 per cent, following a record 20.5 per cent collapse in the first two months, much worse than forecasts of a 10.0 per cent slump. Fixed asset investment, a gauge of expenditure over the year to date on items including infrastructure, property, machinery and equipment, fell by 16.1 per cent over the first three months, from an all-time low of minus 20.5 per cent in January-February. Analysts had forecast a 15.1 per cent slump.

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Terrible headline, but interesting concept: ..how many jobs can society do without? The answer, it would appear, is an awful lot. David Graeber, pay attention.

Biophysical Economics and the Coronavirus Pandemic (Fix)

[..] there are two constraints on our ability to deal with the coronavirus pandemic. The first constraint is money. This gets all the press right now — and rightly so. To slow the spread of the coronavirus, millions of people are staying home from work. Since we don’t want these people to starve, we need to somehow give them money. But where should this money come from? While this appears like a monetary constraint, it’s actually a social constraint. Money is a social fiction that we can create and destroy at will. So at the societal level, ‘not having enough money’ isn’t a real constraint. No, the real constraint is about who has the power to create and distribute money. We usually give most of this power to the private sector. (Banks create the majority of money when they issue credit.) We forget that the government can also create money. Fortunately, many governments of the world are rediscovering this power, and are paying their citizens to stay at home.

While this (apparent) monetary constraint is on the top of our minds, there are also biophysical constraints on how we can deal with the coronavirus pandemic. These biophysical constraints are little discussed, but they’re more fundamental than the lack of money. [..] Two hundred years ago, most people lived in rural areas. This made it easy to keep your distance from other people (if you had to). Now the vast majority of us live in cities, making it hard to stay away from other people. So urbanization has made it more difficult to fight pandemics.

Fortunately, another demographic change offsets the affects of urbanization. To slow the spread of the virus, many of us are being paid to sit at home and do nothing. Two hundred years ago this would have been impossible. Why? Because at the time, most people were farmers. If they didn’t go to work, the population would starve. So a sweeping ‘stay-at-home’ order would have been impossible. Now things are different. As Figure 1 shows, the US has undergone an astonishing
demographic inversion. The vast majority of people now work in the service sector. This means that many of us can simply not work. Sure, without a large service sector we can’t get our lattes or our manicures. But we won’t starve. So the coronavirus pandemic is forcing us to run a vast social experiment. The research question is this: in the short run, how many jobs can society do without? The answer, it would appear, is an awful lot.


Figure 1: The demographic inversion in the US. The sector composition of the US in 1800 (left) and in 2010 (right). [Source: Rethinking Economic Growth Theory from a Biophysical Perspective]

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Millions losing health care in a pandemic….

22 Million New Jobless Claims, 9.2 Million Lost Health Care In Past Month (NBC)

The number of unemployed Americans continues to climb with another 5 million people filing jobless claims last week, bringing the total number of people applying for unemployment to 22 million in the last month. But an unsettling undercurrent of that number is the amount of people who are also losing access to health insurance because they lost their job. Approximately 9.2 million workers have likely lost their employer-provided health care coverage in the past four weeks, an analysis from the Economic Policy Institute concluded.


Two weeks ago, the nonprofit think tank concluded that nearly 3.5 million among the 8.7 million claims likely lost their employer coverage. An additional 11.4 million people have since applied for unemployment, with the biggest losses of insurance coming from the health care/social assistance, manufacturing and retail sectors. NBC News previously reported that states are bracing for an increase in the number of people who have applied for Medicaid, the public health care coverage option, since the coronavirus pandemic caused states to shutter businesses and caused workers to lose access to their insurance.

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…vs the other side of America…

43,000 US Millionaires Will Get ‘Stimulus’ Averaging $1.6 Million Each (NYP)

At least 43,000 American millionaires who are too rich to get coronavirus stimulus checks are getting a far bigger boost — averaging $1.6 million each, according to a congressional committee. The Coronavirus Aid, Relief, and Economic Security (CARES) Act trumpeted its assistance for working families and small businesses, but it apparently contains an even bigger benefit for wealthy business owners, the committee found. The act allows pass-through businesses — ones taxed under individual income, rather than corporate — an unlimited amount of deductions against their non-business income, such as capital gains, the Washington Post said. They can also use losses to avoid paying taxes in other years.


That gives the roughly 43,000 individual tax filers who make at least $1 million a year a savings of $70.3 billion — or about $1.6 million apiece, according to the Joint Committee on Taxation. Hedge-fund investors and real estate business owners are “far and away” the ones who will benefit the most, tax expert Steve Rosenthal told the Washington Post. Sen. Sheldon Whitehouse (D-RI) called it a “scandal” to “loot American taxpayers in the midst of an economic and human tragedy.” Sen. Lloyd Doggett (D-Texas) claimed that “someone wrongly seized on this health emergency to reward ultrarich beneficiaries.” “For those earning $1 million annually, a tax break buried in the recent coronavirus relief legislation is so generous that its total cost is more than total new funding for all hospitals in America and more than the total provided to all state and local governments,” he stressed in a statement.

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And there are the dollar-denominated debts again…

Fed Just Jawboning, Massively Tapered QE-4, Hasn’t Bought Any Junk Bonds (WS)

Since the Fed announced its market bailouts and interventions on March 15, it has printed and handed to Wall Street $2.06 trillion. But here is the thing: This was front-loaded, and over the past two weeks, it has cut its bailouts in half, and it has stopped lending new funds to its SPVs that were expected to buy all manner of securities, including equities, junk bonds, and old bicycles. But those loan amounts haven’t moved in four weeks. What it has bought were Treasury securities and mortgage-backed securities – and it’s cutting back on those too. Total assets on the Fed’s balance sheet rose by $285 billion during the week through April 15, reported Thursday afternoon, to $6.37 trillion.


Over the past five weeks, including the partial bailout-week which started March 16 and ended March 18, total assets increased by these amounts. Note the big taper from $586 billion and $557 billion early on to $287 billion in the latest week: • $356 billion (Mar 18, partial bailout week started Mar 16) • $586 billion (Mar 25) • $557 billion (Apr 1) • $272 billion (Apr 8) • $285 billion (Apr 15).

The $6.37 trillion of assets on the Fed’s balance sheet are mostly composed of Treasury securities, mortgage-backed securities (MBS), repurchase agreements (repos), “foreign central bank liquidity swaps,” and “loans” to its Special Purpose Vehicles (SPVs). We’ll go through them one at a time. The Fed added $154 billion in Treasury securities during the week, down 47% from the $293 billion it had added the week before, and down 57% from the $362 billion it had added two week ago. This is a major factor in the Big Taper of QE-4.

The sharp reduction in purchases of Treasuries confirms for now that the Fed is sticking to its announcement that it would drastically cut QE after the initial blast. Fed Chair Jerome Powell in a webcast on April 10 said that the Fed would pack away its emergency tools once “private markets and institutions are once again able to perform their vital functions of channeling credit and supporting economic growth.” Whatever that means. [..] The Fed has “dollar liquidity swap lines” with [many central banks]. The total on its balance sheet increased by $20 billion from the prior week to $378 billion but has been in the same range all April. Of note: • 83% of outstanding liquidity swaps are with the ECB ($138 billion) and the BOJ ($176 billion). • The Bank of England is far behind ($22 billion). And there no swaps with the central banks of Canada, Brazil, New Zealand, and Sweden.

[..] neither the ECB nor the BOJ need the dollars for trade. They need them to support their banks and companies have large dollar-denominated debts and speculative bets that they need to refinanced with cheap dollars. And those swaps make that possible.

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Wisdom.

Cut Military Spending To Fund Human Security – Gorbachev (RT)

The Covid-19 pandemic shows that governments that think of security in mostly military terms are simply wasting money, Mikhail Gorbachev has said. Defence spending must be cut globally to fund things that humanity actually needs. The former Soviet leader called on the world to move away from hard power in international affairs. He remains especially worried about the kind of military brinkmanship that lately has almost led to a shooting war in the Middle East. “What we urgently need now is a rethinking of the entire concept of security,” he wrote, in an op-ed published by TIME magazine. “Even after the end of the Cold War, it has been envisioned mostly in military terms. Over the past few years, all we’ve been hearing is talk about weapons, missiles and airstrikes.”

The Covid-19 outbreak has highlighted once again that the threats humanity faces today are global in nature and can only be addressed by nations collectively. The resources currently spent on arms need to go into preparation for such crises, Gorbachev said. “The overriding goal must be human security: providing food, water and a clean environment, and caring for people’s health,” he said. The first thing that nations should do after the coronavirus is dealt-with is to make a commitment to a massive demilitarization. “I call upon [world leaders] to cut military spending by 10 percent to 15 percent. This is the least they should do now, as a first step toward a new consciousness, a new civilization.”

Gorbachev, the former leader of the USSR who is credited with de-escalating the Cold War against the US and with negotiating a dramatic reduction in the nuclear arsenals of the two powers, shared his opinions and aspirations as the global number of Covid-19 cases surpassed the two-million benchmark. The pandemic has led to over 130,000 deaths and is projected to plunge the world economy into a recession of a magnitude unseen since the 1920s.

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It should be easy for Xi to prevent this.

Chinese Airlines Poised For Post-Coronavirus ‘Revenge Travelling’ (SCMP)

China’s airlines are poised for a bout of “revenge travelling” in the coming weeks, as soaring reservations ahead of the annual Labour Day holiday and demand by residents returning home from quarantines helped them recover 40 per cent of their traffic. Regional carriers like Guizhou Airlines, Fuzhou Airlines, and China Eastern Airlines’ low-cost unit China United Airlines have added new routes around the country, according to CAAC News, a newspaper run by the Civil Aviation Administration of China (CAAC). United has added 25 routes, eight of which depart from the new Daxing airport in the Chinese capital.

“Chinese carriers are hoping that they could make a breakthrough on the Labour Day holiday,” said the Institute for Aviation Research’s founder and president Lei Zheng, adding that airlines do tend to make seasonal scheduling adjustments. “If they have decent recovery during May, then they can be well-prepared for summer, one of the two most profitable seasons other than the Lunar New Year.” The recovery in air travel, underpinned by an easing coronavirus outbreak in mainland China, is welcomed news for an industry that has suffered 39.82 billion yuan (US$5.6 billion) in first-quarter losses as air passenger traffic shrank 53.9 per cent.

[..] At the height of the outbreak in China a month ago, the aviation regulator grounded most aircraft, limiting each airline to one weekly international route at 75 per cent capacity. As the daily caseload of coronavirus infections fell to single digits, carriers resumed their services, increasing the average aircraft utilisation to 2.8 hours a day, compared with 9 hours per day before the Covid-19 pandemic, according to Flight Master, a Chinese travel intelligence and data company.
China’s Labour Day holiday begins on May 1 and lasts until May 5, an annual weeklong break that usually marks the first peak for travelling and shopping in calendar following the Lunar New Year. Flights are resuming to destinations with lighter caseloads of the coronavirus infections, and where local authorities have either lifted, or are implementing less draconian isolation and quarantine measures than some of the most severely afflicted cities.

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I see people say that Greece was very early in its response. It wasn’t, the second half of March was not ‘very early’. What they did right was to be rigorous when they finally got going.

Greece to Celebrate Easter Under Coronavirus Lockdown (GR)

Greece will celebrate Easter on Sunday, the most important religious holiday of the Orthodox Church, behind closed doors this year after the authorities strictly forbade the traditional spirited celebrations of mass church attendance, firecrackers and large family gatherings. Authorities are desperate to avoid the traditional mass exodus of city dwellers, when hundreds of thousands of Greeks traditionally flock to churches and to their ancestral homes to celebrate Christ’s resurrection, in order to prevent the spread of coronavirus. As of Friday, officials reported 2,207 cased and the death toll at 105, one of the lowest rates in Europe. But compliance will be tested over the long Easter weekend.


The government has doubled fines and included removal or car plates for anyone who travels without reason for Greek Orthodox Easter, Civil Protection Deputy Minister for Crisis Management Nikos Hardalias said on Thursday. Extra controls will be in place at toll posts and ports, and only those with a permanent residency in the area will be allowed to travel to prevent trips to visit relatives or second homes in the countryside. “This virus doesn’t distinguish days, whether it’s a celebration or not,” said Hardalias, who spoke extensively of the great majority of Greek citizens who have observed faithfully the lockdown restrictions, and explained the introduction of additional ones, particularly for Easter. As he said, “One in ten Greeks has said directly or explicitly that they will not follow directions. They do not want to change their habits for one day, as if nothing is going on.”

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If anything, RT has been surprisingly calm in its responses. But sometimes there’s a column that is a bit less that. And c’mon, Biden…

Russiagate Godfather Obama Promotes NYTimes’ “Putin + Covid-19” (RT)

What does Joe Biden have in common with a New York Times article even critics of Russian President Vladimir Putin have described as “incompetent”? Both have received ringing endorsements from former US President Barack Obama. “Democracy depends on an informed citizenry and social cohesion. Here’s a look at how misinformation can spread through social media, and why it can hurt our ability to respond to crises,” Obama tweeted on Wednesday – linking to an article published three days prior. Written by William S. Broad, the top science journalist at the New York Times, the piece contains no actual science – merely a laundry list of conspiracy theories blaming Russia and Putin personally for wanting to “discredit the West and destroy his enemies from within.” “Analysts say” that Putin personally “played a principal role in the spread of false information” about vaccines, the coronavirus, and just about anything really, Broad argues.

Which analysts? Well, Broad cites only three professional Russia-baiters by name, uses two entirely unrelated stories from years ago that were in the general “blame Russia for disinformation” ballpark, and cites “sources” such as the infamous “Intelligence Community Assessment” blaming Russia for the 2016 presidential election. Remember that one? The “Trump-Russia collusion” claim that Russia “hacked our democracy” (whatever that means) that the Democrats flogged for four years to explain losing to Donald Trump and attempt to oust him from office – until it imploded last May and they had to scramble to invent a bogus “Ukrainegate” conspiracy to actually impeach him – and the outlets like the Times and the Washington Post leveraged to get Pulitzers?

Or has all this vanished in the mists of time, due to the month-long brain scrambling induced by the coronavirus lockdowns? May 2019, incidentally, is when Broad wrote another hit piece along the exact same lines, only narrower in scope: he accused RT America of doing Putin’s bidding by reporting on theories that 5G wireless networks could be dangerous. No matter that mainstream US news outlets have reported on the issue in the exact same way – Broad saw “RUSSIA” and had to jump in. Then, too, he chose not to interview actual scientists but Russiagate-pushers such as Ryan Fox, CEO of New Knowledge – the notorious outfit that blamed Russia for its own bot campaign in the 2017 Senate election in Alabama. In other words, a literal false-flag perpetrator.

By way of illustration, one of the “experts” Broad quotes has a line about “a cloud of Russian influencers,” which the NY Times journalist then describes thusly: The players, he said, probably include state actors, intelligence operatives, former RT staff members and the digital teams of Yevgeny Prigozhin, a secretive oligarch and confident [sic] of Mr. Putin’s who financed the St. Petersburg troll farm. “Probably!” Also, you left out the kitchen sink.

And Cooper and Gupta sit there listening, serious faces and all, because this is supposed to be their man.

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A very biased hudge decides that a jury frontperson is not biased.

Roger Stone Denied Bid For New Trial (G.)

A federal judge on Thursday denied a bid for a new trial by Donald Trump’s longtime friend and adviser Roger Stone after the veteran Republican operative accused the jury forewoman of being tainted by anti-Trump political bias. Amy Berman Jackson, a US district court judge, rejected Stone’s claim that the forewoman was biased against Trump and therefore could not be impartial in deciding Stone’s guilt or innocence during the trial. “There is zero evidence of ‘explicit bias’ against Stone, and defendant’s attempts to gain a new trial based on implied or inferred bias fail,” Berman Jackson said in an 81-page decision. Stone, a longtime confidant and former aide to Trump, was convicted in November of seven felonies in an attempt to interfere with a congressional inquiry. He was sentenced to 40 months in prison.


In her memorandum, Berman Jackson said the lawyers had not proved the forewoman was biased or that any jurors acted inappropriately. She included details of their juror questionnaires in her explanation. “The assumption underlying the motion – that one can infer from the juror’s opinions about the president that she could not fairly consider the evidence against the defendant – is not supported by any facts or data and it is contrary to controlling legal precedent,” she wrote in denying the new trial. “The motion is a tower of indignation, but at the end of the day, there is little of substance holding it up.” Stone must appear in person “at the institution designated by the Bureau of Prisons” within 14 days to serve out his sentence, Jackson ruled. She also released Stone and his lawyers from a gag order.

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“In the cold autumn of 1629, the plague came to Florence, Italy..”.

Notable for the ‘lavish’ provision of food for the poor, backed by the thought that underfed people are more likely to spread a disease.

Surviving Plague in an Early Modern City (Henderson)

The officials of the Sanità, the city’s health board, wrote anxiously to their colleagues in Milan, Verona, Venice, in the hope that studying the patterns of contagion would help them protect their city. Reports came from Parma that its ‘inhabitants are reduced to such a state that they are jealous of those who are dead’. The Sanità learned that, in Bologna, officials had forbidden people to discuss the peste, as if they feared you could summon death with a word. Plague was thought to spread through corrupt air, on the breath of the sick or trapped in soft materials like cloth or wood, so in June 1630 the Sanità stopped the flow of commerce and implemented a cordon sanitaire across the mountain passes of the Apennines.

But they soon discovered that the boundary was distressingly permeable. Peasants slipped past bored guards as they played cards. In the dog days of the summer, a chicken-seller fell ill and died in Trespiano, a village in the hills above Florence. The city teetered on the brink of calamity. By August, Florentines were dying. The archbishop ordered the bells of all the churches in the city to be rung while men and women fell to their knees and prayed for divine intercession. In September, six hundred people were buried in pits outside the city walls.

[..] The Sanità arranged the delivery of food, wine and firewood to the homes of the quarantined (30,452 of them). Each quarantined person received a daily allowance of two loaves of bread and half a boccale (around a pint) of wine. On Sundays, Mondays and Thursdays, they were given meat. On Tuesdays, they got a sausage seasoned with pepper, fennel and rosemary. On Wednesdays, Fridays and Saturdays, rice and cheese were delivered; on Friday, a salad of sweet and bitter herbs. The Sanità spent an enormous amount of money on food because they thought that the diet of the poor made them especially vulnerable to infection, but not everyone thought it was a good idea. Rondinelli recorded that some elite Florentines worried that quarantine ‘would give [the poor] the opportunity to be lazy and lose the desire to work, having for forty days been provided abundantly for all their needs’.

The provision of medicine was also expensive. Every morning, hundreds of people in the lazaretti were prescribed theriac concoctions, liquors mixed with ground pearls or crushed scorpions, and bitter lemon cordials. The Sanità did devolve some tasks to the city’s confraternities. The brothers of San Michele Arcangelo conducted a housing survey to identify possible sources of contagion; the members of the Archconfraternity of the Misericordia transported the sick in perfumed willow biers from their homes to the lazaretti. But mostly, the city government footed the bill. Historians now interpret this extensive spending on public health as evidence of the state’s benevolence: if tracts like Righi’s brim over with intolerance towards the poor, the account books of the Sanità tell an unflashy story of good intentions.

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