Aug 132020
 


Joel Meyerowitz Florida 1967

 

COVID-19 Rapid Tests Demo (MedCram)
Puzzling New Zealand Virus Outbreak Grows To 17 Cases (AP)
Russian Vaccine CEO: US Waging “Major Information Warfare” (ZH)
When COVID Closed The Library, Staff Called Every Member Over 70 (G.)
Smart Money On Trump To Win In November, Stocks Could Crash – Gundlach (MW)
AOC Only Gets 60 Seconds At DNC To Deliver Pre-Recorded Message (F.)
Romney Blocks Sen. Ron Johnson From Subpoenaing Comey, Brennan (GP)
China State-Run Banks Quietly Complying With Trump’s Hong Kong Sanctions (ZH)
Uber May Shut Down In California If Forced To Call Drivers Employees (V.)
Pentagon Gives Up Huge Slice Of Spectrum For 5G (BD)
We Didn’t Bleed Him Enough (CP)

 

 

I get quite a few of my entries in the Debt Rattles from my Twitter feed; I follow 193 accounts, let, right, and everything in between.

Now I clearly see the attention in there shifting away from COVID to US politics. Not surprisingly, of course. But what happens in that shift sometimes is. Joe Biden tweeted yesterday that Trump three years ago called neonazis in Charlottesville “very fine people”.

Now, we know that Trump did not do that, it’s a blatant lie, and one which has been well documented, because we know what he did say, word for word. How and why then can Biden make that claim?

Easy: he knows -and his handlers do- that his supporters don’t read or view anything in which this is explained to them. They simply believe Trump said that, because CNN and the NYT say so.

That’s how far the US media landscape – and journalism in general- has sunken. Biden’s tweet:

But here’s what Trump actually said:

And a clip of that:

Even CNN’s Jake Tapper said so. Maybe he can tell his colleagues the truth, refresh their memories?!

 

 

C’mon, get a grip on the numbers already!

 

 

 

 

 

 

 

 

 

 

 

 

Apparently this has been available for months. Let’s start ASAP.

COVID-19 Rapid Tests Demo (MedCram)

We’ve received your requests for a brief summary video (to share!) of Dr. Mina’s research and how inexpensive (approx. $1), at-home, COVID-19 tests (results in 15 minutes) could be utilized to dramatically slow the spread of this pandemic (and open up schools etc. in a faster and safer way). Dr. Mina is an Assistant Professor of Epidemiology at the Harvard T.H Chan School of Public Health and a core member of the Center for Communicable Disease Dynamics. Dr. Mina’s research has demonstrated that the sensitivity (accuracy) of these simple saliva or swab paper antigen tests (the technology already exists) is high enough to detect the vast majority of infectious #COVID19 and could be utilized frequently at home.

At-Home, Rapid Result Testing: 5 Min. Summary with Dr. Mina

Read more …

Frozen food? Isn’t that a bit far out?

Puzzling New Zealand Virus Outbreak Grows To 17 Cases (AP)

A puzzling new outbreak of the coronavirus in New Zealand’s largest city grew to 17 cases on Thursday, with officials saying the number will likely increase further. And a lockdown in Auckland designed to extinguish the outbreak could be extended well beyond an initial three days. It was a turnabout from Sunday, when the South Pacific nation of 5 million marked 100 days without any cases of local transmission. For most people, life had long returned to normal as they sat down in packed sports stadiums and restaurants or went to school without the fear of getting infected. The only cases for months had been a handful of returning travelers who have been quarantined at the border. But then earlier this week, health workers discovered four infections in one Auckland household.

The source of the new infections continues to stump officials. Director-General of Health Ashley Bloomfield said genome testing has not yet matched the new cluster with any infections that have been caught at the border, although the testing has indicated the strain of the virus may have come from Australia or Britain. Auckland was moved to Alert Level 3 on Wednesday, meaning that non-essential workers are required to stay home and bars, restaurants and most businesses are shut. The rest of the country has moved to Level 2, requiring social distancing. The government is due to make a decision Friday on whether to extend Auckland’s lockdown, which seems increasingly likely given the new cases. The good news for health officials about the latest 13 cases is that they could all be linked through work and family to the initial four cases, meaning there is no evidence yet of a wider community outbreak. Officials say they tested just over 6,000 people on Wednesday.


Prime Minister Jacinda Ardern said the outbreak was a reminder of the trickiness of the virus and how easily it can spread. “As with our first outbreak, we do have an expectation that things will get worse before they get better,” Ardern said. “Modeling suggests that we will still see more positive cases. At this stage, though, it’s heartening to see them in one cluster.” Bloomfield said he expected that sooner or later the new cases would be linked to somebody who had arrived in the country with an infection or a worker at a quarantine facility, airport or maritime port. “At the moment we haven’t established a direct connection,” Bloomfield said. “But as we find each case and do that thorough interview and investigation, that will help.” Some of those infected work at an Auckland refrigerated food facility, leading to speculation the virus could have survived from abroad on chilled or frozen food.

Read more …

In the US, this will always be about money. The government buys billions worth of “maybe vaccines” whose research it has already paid for. Big Pharma sees the pandemic as a major profit opportunity. And both don’t want some Russian vaccine to spoil their schemes.

Russian Vaccine CEO: US Waging “Major Information Warfare” (ZH)

The global race among multiple nations to be the first to produce a coronavirus vaccine – especially the US, China, and Russia – has sparked not just competition to see who’ll be first, but an information war in the wake of Moscow’s announced breakthrough COVID-19 vaccine this week. The announcement of Russia’s Sputnik V vaccine, developed by Moscow’s Gamaleya research institute with help from the Russian defense ministry and expected to be available to the Russian public by October almost immediately drew widespread scorn and mockery in the West based on allegations Russia is skipping large-scale clinical trials. One Russian official told CNBC this week the US is waging “major information warfare” against the possibility of a successful Russia-produced vaccine.

Kirill Dmitriev, the CEO of the Russian Direct Investment Fund – which is backing the Sputnik V vaccine – said in comments Wednesday, “It really divided the world into those countries that think it’s great news … and some of the U.S. media and some U.S. people who actually wage major information warfare on the Russian vaccine.” “We were not expecting anything else, we are not trying to convince the U.S. Our point to the world is that we have this technology, it can be available in your country in November/December if that works with your regulator … [while] people who are very skeptical will not have this vaccine and we wish them good luck in developing theirs,” he added.


Dmitriev claimed further that Russia does plan on sharing its data from the vaccine with the rest of the world, also at a moment World Health Organization officals said they wil move to review the COVID-19 vaccine candidate approved by Russian regulators on Tuesday. The WHO said it will require “a rigorous safety data review” before being available for use among citizens.

Read more …

Brilliant. Solves much of the loneliness problem, makes sure peole get books, keeps them in touch. It’s often in the little things that we find most value. Localize. Such approaches simply don’t work nationwide, unless you have a real small nation.

When COVID Closed The Library, Staff Called Every Member Over 70 (G.)

When Melbourne’s Yarra Plenty regional libraries first went into lockdown in March, shut the doors and left the remaining unborrowed books on their shelves, staff were sent home with a phone. “One of the hardest things about lockdown was people being separated from their community,” said Lisa Dempster, Yarra Plenty’s executive manager of public participation. “The library is often a hub for the community, and we identified the most vulnerable cohort of our community would be the elderly.” So the library staff pulled from their database the phone number of every library member over the age of 70 – a total of 8,000 records. Then the librarians started calling those members. All of them.


“We called them to say hi, see how they were doing, and then see if there was anything they needed help with, such as access to services, counselling support, tech help, that kind of thing. We would then refer them to a service that would help them,” said Dempster. “What we’ve found mostly is that people are really up for the chat and love getting that call from the librarian. Some calls go for five minutes and some go for half an hour or more.” Yarra Plenty’s “caring calls” are just one of the ways that libraries around the state have been servicing community needs since the onset of Covid-19 shutdowns. From fine amnesties, to boosting the prominence of digital offerings, to simply putting books in the post, libraries have drastically changed the way they operate to accommodate the massive social changes imposed by governments during the pandemic, often with heartwarming results.

Read more …

Gundlach was right: Biden WAS unelectable in March. But then a miracle happened.

Smart Money On Trump To Win In November, Stocks Could Crash – Gundlach (MW)

Joe Biden/Kamala Harris in 2020? Not so fast, according to DoubleLine Capital’s billionaire boss Jeffrey Gundlach, who predicted Donald Trump’s win the 2016 election. ‘Will Joe Biden beat Donald Trump in November? I don’t think so. I’d bet against that. I think the polls are very, very squishy because of the highly toxic political environment in which we live. That’s the so-called “Bond King,” sharing his thoughts on the upcoming election in a webcast this week for DoubleLine’s closed-end funds cited by Bloomberg News.


Harris, he said, won’t likely change that because she’s “a little too charismatic” and her personality “might be a little bit dominant.” Then again, Gundlach didn’t think Biden would win the Democratic nomination, having called him “unelectable” in March. Regardless, there are still “a lot of twists and turns” to come, he added. Biden is still the favorite, according to a RealClear Politics average showing a 7.3-point margin in the polls. His lead is narrower in key battleground states, where he’s up an average of 4.3 points. As for the market, he said he wouldn’t be surprised if stocks revisited their March lows, and, as Bloomberg reported, he forecast gold to keep moving higher.

Read more …

They want her voters, not her ideas. And people are surprised at that? Wake up! This thing lasts for 4 days, and she gets one minute of that. What will Kasich get, half an hour? Look at who’s in charge at the DNC. Same old same old.

AOC Only Gets 60 Seconds At DNC To Deliver Pre-Recorded Message (F.)

Rep. Alexandria Ocasio-Cortez (D-N.Y.) will only have one minute to speak at the Democratic National Convention next week, Business Insider first reported Wednesday, prompting complaints the party was out of touch with young voters. The DNC will air a 60 second pre-recorded message filmed by AOC in her home. The convention is being held virtually because of the coronavirus, and speakers include former first lady Michelle Obama, Senate Minority Leader Chuck Schumer and former Mayor Pete Buttigieg of South Bend, Indiana, who will deliver a live speech on Thursday, according to Business Insider. Other progressive leaders such as Bernie Sanders and Elizabeth Warren are also slated to speak.


It’s unclear if any other speakers are subject to the same time limits [..] Some slammed the Democratic Party for being out-of-touch with young voters, especially considering AOC’s national profile. In addition to AOC’s minute, the DNC speaker lineup has been widely panned by left-leaning activists for including former Ohio Gov. John Kasich, a Republican, while not giving enough time to Latino, progressive and LGBT politicians. Former candidate Andrew Yang said he expected to speak and was disappointed he was not chosen.

Read more …

You need to buy just one vote, it must be unanimous.

Romney Blocks Sen. Ron Johnson From Subpoenaing Comey, Brennan (GP)

A Senior Republican Senate source has confirmed to Gateway Pundit that Senator Mitt Romney is leading an effort to block Senator Ron Johnson from subpoenaing James Comey and John Brennan. Johnson, the Senate Homeland Security and Governmental Affairs Chair, said during a radio appearance on Wednesday that fellow Republicans were blocking him from subpoenaing the former FBI Director and former CIA Director, among other figures involved in the scandal. “We had a number of my committee members that were highly concerned about how this looks politically,” Johnson told conservative radio host Hugh Hewitt, who pressed the Senator to name the Republicans blocking him. Johnson declined to name names.


Politico’s Kyle Cheney reports that Johnson’s committee said no one is blocking any subpoenas for Comey or Brennan, rather there’s just a desire to exhaust all options to get them to testify voluntarily. However, shortly after Johnson made his claims, a senate source reached out to Gateway Pundit and confirmed that Romney is leading the obstruction. “Romney was for impeachment. He has been against Trump every step of the way. Now he is obstructing going after the leakers and liars who went after Trump,” the senior senate source said. The obstruction claims come despite the fact that the committee gave him the unilateral power to subpoena people earlier this year.

Read more …

China doesn’t have a huge amount of dollars left.

China State-Run Banks Quietly Complying With Trump’s Hong Kong Sanctions (ZH)

On the surface, there is a non-stop tide of daily diplomatic drama and escalating jawboning between the US and China which – quite theatrically – will be at each other’s throat at least until the conclusion of the Nov 3 election. However, behind the scenes, one can discern just who has the upper hand. According to Bloomberg, China’s largest state-run banks operating in Hong Kong have taken “tentative steps” to comply with US sanctions imposed on officials in the city, seeking to safeguard their access to crucial dollar funding and overseas networks, and putting their financial future above their patriotic duty to defend questionable Hong Kongers who have fallen in the crossfire.

As a reminder, last week Trump sanctioned Chinese and Hong Kong officials including Hong Kong Chief Executive Carrie Lam, Xia Baolong, director of the Hong Kong and Macau Affairs Office of China’s State Council, and Chris Tang, commissioner of the city’s police for their role in implementing a security law in Hong Kong. The officials will have property and assets in the U.S. frozen; they also will be increasingly frozen by their own financial institutions. China’s bank giants, most of which have operations in the U.S. including Bank of China, China Construction Bank, and China Merchants Bank have turned cautious on opening new accounts for the 11 recently sanctioned HK officials, including Lam, and at least one bank has suspended such activity. To avoid Trump’s ire, at some banks transactions via the U.S. are banned, while compliance must now review and sign off on others that would previously have been immediately processed, Bloomberg sources said.


At the same time, foreign banks operating in Hong Kong such as Citigroup have already taken aggressive steps to suspend accounts or are increasing scrutiny of Hong Kong clients. The quick capitulation by China’s biggest lenders once again underscores how Trump has weaponized the greenback and the ability of the U.S. to use the dollar’s dominance in international transactions as a critical pressure point in the standoff with China. And since China’s state-owned lenders need to preserve their access to global financial markets – with the Yuan years if not decades from even thinking about thinking about becoming a global reserve currency – they have quietly bent the knee to Trump to preserve dollar access at a time when Beijing has leaned on them to prop up the economy from the fallout of the coronavirus.

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WHen your business model falls apart as soon as you must pay decent wages.

Uber May Shut Down In California If Forced To Call Drivers Employees (V.)

Uber may shut down its operations in California, one of its largest markets in the US, if it is forced to classify drivers as employees, the company’s CEO Dara Khosrowshahi said on MSNBC Wednesday. Earlier this week, Uber and Lyft were ordered by a California superior court judge to classify their drivers as employees. At issue is the classification of ride-hailing drivers as independent contractors, which Uber and Lyft say most drivers prefer because of the flexibility and ability to set their own hours. But labor unions and elected officials contend this deprives them of traditional benefits like health insurance and workers’ compensation. Both companies have said they would appeal the ruling, which was stayed for 10 days.

But if their appeal fails, Uber may have to close up shop in California, Khosrowshahi said. “If the court doesn’t reconsider, then in California, it’s hard to believe we’ll be able to switch our model to full-time employment quickly,” he told MSNBC. In May, California Attorney General Xavier Becerra, along with city attorneys of Los Angeles, San Francisco, and San Diego, sued Uber and Lyft, arguing that their drivers were misclassified as independent contractors when they should be employees under the state’s AB5 law that went into effect on January 1st. Becerra later filed a motion for a preliminary injunction that could compel the ride-hailing companies to classify drivers as employees immediately. AB5, which was signed into law last September, enshrines the so-called “ABC test” to determine if someone is a contractor or an employee.


In his ruling in favor of Becerra’s preliminary injunction, Superior Court Judge Ethan Schulman said Uber and Lyft’s arguments — that drivers’ work is outside the companies’ usual course of business — “flies in the face of economic reality and common sense.”

Read more …

There are valid reasons to investigate 5G, and when the Pentagon surrenders bandwidth at record speed, there are even more such reasons. It’s being treated the same way as glyphosate currently, with people saying there’s no evidence of harm. No, that comes later, which is why you need research now. Precautionary principle.

And no, comments like this don’t help: “Those are precisely the frequencies they used to pull in the ‘virus’ from outer space ! And now they’re selling them off to cover it all up! Or maybe they’ve embedded even worse viruses IN THOSE WAVELENGTHS & will now use apps to infect EVERYONE IN THE WORLD “

Pentagon Gives Up Huge Slice Of Spectrum For 5G (BD)

After a remarkably fast interagency review, the White House today announced a massive transfer of electromagnetic spectrum from military use to commercial 5G. It will be the “fastest transfer of federal spectrum to commercial use in history,” US Chief Technology Officer Michael Kratsios told reporters proudly this afternoon. But, Kratsios and Pentagon CIO Dana Deasy assured reporters ahead of the announcement, the rush won’t compromise military readiness or operations. The 100 megahertz of spectrum runs from 3450 MHz to 3550, so-called mid-band frequencies prized by 5G developers because they allow longer-ranged transmissions than the millimeter-wave spectrum that makes up most of what’s been available in the US so far.

Kratsios and other officials told reporters shortly before this afternoon’s announcement that the move would dramatically expand 5G access for all Americans – fulling a congressional mandate in the 2018 MOBILE NOW Act – and strengthen potential competitors to Chinese giant Huawei in the global market. Currently, Deasy said, “the 3450-3550 mHZ band supports critical DoD radar operations, including high-powered defense radar systems on fixed, mobile, shipboard, and airborne platforms, [including] air defense, missile and gun fire control, counter mortar, bomb scoring [during training exercises], battlefield weapon locations, air traffic control, and range safety.” That’s a wide range of military functions, many with life-or-death significance for either training safety or outright combat. Deasy and other officials didn’t detail how the Defense Department would work this massive transfer.


Their remarks, however, suggested a mix of migrating military radars to other frequencies – a complex and costly process typically funded from a share of the FCC auction – and sharing frequencies with commercial users in specific times and places. The White House formally made the request in April. Roughly 200 technical experts from all four armed services, the Office of Secretary of Defense, and the White House Office of Science & Technology Policy studied the problem for 15 weeks. The FCC, which has already endorsed the plan, will start auctioning the spectrum off in December 2021, Kratsios said, with commercial use beginning “as soon as mid-2022.” That’s as fast as the transfer can possibly go through the FCC’s public rule-making process, officials said. Historically transferring spectrum takes six years or more. ““The timeline that we’re working with is absolutely unprecedented,” one senior administration official told reporters, “and I cannot underscore that enough.”

Read more …

I like the line of thinking. Ideas that once were mainstream start to look crazy.

We Didn’t Bleed Him Enough (CP)

Bloodletting was a common medical treatment for nearly 3,000 years. It developed around an idea, originating with Hippocrates and later wildly popular in Europe of the Middle Ages: that an imbalance of the four humours of the body – blood, phlegm, black bile, yellow bile – caused illness. Around 500 years after Hippocrates, Galen declared blood to be the most important humour. These and other ideas driven by surgical experimentation and, often, superstition, led to bleeding the body, ridding it of bad blood, if you like, to save the patient. Leeches were used for bloodletting, including the medicinal leech Hirudo medicinalis. We will never know how many people lost their lives across 3,000 years to this treatment, how many humans turned corpses, bled to death by the medico-ideological delusions of their doctors.

We do know that King Charles II of England had some 24 ounces of blood taken from him before he died. George Washington’s three doctors drained him of copious amounts of blood (on his own request) to cure him of a throat infection – he died soon after. Covid-19 has given us a brilliant, thorough autopsy of neoliberalism, indeed of capitalism itself. The corpse is on the table, in glaring light, every vein, artery, organ and bone staring us in the face. You can see all the leeches – privatisation, corporate globalism, extreme concentration of wealth, levels of inequality unseen in living memory. The bloodletting approach to social and economic ills that has seen societies drain working people of the basics of decent and dignified human existence.

The 3,000-year-old medical practice reached its peak in Europe in the 19th century. Its discrediting came only with the late 19th and 20th centuries – but the doctrine and practice are still dominant in the disciplines of economics, philosophy, business and society. Some of the most powerful social and economic doctors around the corpse before us, analyse it much the way doctors in say, medieval Europe, did. As the late Alexander Cockburn, founder editor of CounterPunch, once said, when the Middle Ages medicos lost their patient, they probably shook their heads sadly and said: “We didn’t bleed him enough.” Precisely as the World Bank and the IMF have whined for decades that the horrific damage of their shock and awe treatment, of sometimes near-genocidal structural adjustment – was not because their ‘reforms’ went too far, but because their reforms, alas, did not go far enough, indeed were not allowed to, by the rowdy and great unwashed.


Inequality, the ideologically insane argued, was not such a dreadful thing. It promoted competitiveness and individual initiative. And we needed more of those. Inequality is now central to any debate we have on the future of humanity. The rulers know this. For over 20 years now, they’ve been savaging the suggestion that inequality has anything to do with humanity’s problems. Early this millennium, the Brookings Institute warned against this debilitating discussion on inequality. Less than 90 days before Covid-19 swept the world, The Economist magazine, neoliberalism’s Oracle of Delphi, read the chicken entrails before it and ran a bitter cover story: “Inequality Illusions: Why wealth and income gaps are not what they appear.” Could turn out the most famous last words since Tarzan’s – “who greased the grapevine?”

Read more …

 

 

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Biden train

 

 

 

 

Support the Automatic Earth in virustime.

 

Mar 072020
 


John Vachon Trucks loaded with mattresses at San Angelo, Texas Nov 1939

 

How America Can Beat COVID-19 (Galbraith)
Don’t Test, Don’t Tell: The Bureaucratic Bungling of COVID-19 Tests (Ben Hunt)
Coronavirus Matters, The Stock Market Doesn’t (IC)
Not Enough Face Masks Are Made In America To Deal With Coronavirus (NPR)
US Excludes Chinese Face Masks, Medical Gear From Tariffs (R.)
Virus Concerns Drag Down Wall Street, But Indexes Eke Out Weekly Gains (R.)
Americans Divided On Party Lines Over Risk From Coronavirus (R.)
21 People On Grand Princess Cruise Ship Test Positive – Pence (NBC)
China January-February Exports Tumble, Imports Slow (R.)
Romney To Vote For Subpoena Seeking Hunter Biden Ukraine Records (Pol.)
Biden Racks Up Endorsements As Sanders Goes On The Attack (R.)
Ethiopian Draft Report Blames Boeing For 737 MAX Plane Crash (R.)
Starting A Nuclear Conflict Now ‘A Political Option’ For US – Moscow (RT)
Ceasefire In Syria’s Idlib Comes At A Cost For Turkey’s Erdogan (R.)

 

 

 

Cases 102,544 (+ 3,616 from Tuesday’s 98,928)

Deaths 3,501 (+ 111 from yesterday’s 3,390)

 

In my view, this from Worldometer last night contains the most relevant information. If China is phase one, South Korea, Iran (+25% cases) and Italy are phase 2. Their increases in cases and deaths continues unabated. Which countries will be phase 3? We’ll know next week.

Some countries look odd. We’ve seen before that South Korea has a relatively low death rate and a very low recovery rate. The US has a lot of deaths compared to its cases, which appears to point to many unreported cases. Germany has zero deaths with 692 cases. Not overly credible.

Overall death rate is 3.5%, that will go down further. If only countries would get serious about their testing. But if you don’t test, you don’t find cases. Tempting.

 

 

 

From SCMP:

 

 

From Worldometer:

 

 

From COVID2019.app:

 

 

 

 

He makes it sound much easier than it is. America comes together only for war. Not for disease.

“After Pearl Harbor, the US banned the sale of rubber tires overnight in preparation for the war effort. With the #COVID19 crisis bearing down, James K. Galbraith calls for the same type of rapid response.”

How America Can Beat COVID-19 (Galbraith)

When the Japanese attacked Pearl Harbor, the United States was surprised and unprepared, but it was quickly freed of its illusions. The same does not hold true for the COVID-19 epidemic. The attack is underway and our defenses are down – but so far our illusions remain intact. That will soon change as the infection rate and death toll rise, while the stock market sinks. Global supply chains have been disrupted by events in China, and India has just banned the export of certain generic drugs. Medical masks are already in short supply, and everyday items such as hand sanitizer have become difficult to find. The heavily globalized, consumer- and finance-driven US economy was not designed for a pandemic.

The country’s medical system has it even worse. America has vast health-care capacity, but millions of people are uninsured, underinsured, undocumented, or simply reluctant to go to the doctor or emergency room, owing to the cost of co-payments, deductibles, and uncovered fees. In a pandemic – where every infected person is a threat to the entire population – this is a formula for disaster. Everyone must be able to come forward, get tested, and receive free treatment without fear of consequences – including the very poor, the homeless, and the undocumented. US medical personnel are not equipped, and facilities are not designed to manage a potential explosion of people needing isolation and specialized care.

Hospital beds and quarantine units may be required where outbreaks overwhelm local capacity, and moving sick, infectious people over distances to available open beds is a risky policy. Effective training for those caring for the quarantined is critical; otherwise, the virus will spread among support staff. Medical supplies such as test kits and hazard suits must also be delivered where and when they are needed. [..] the government must empower the Centers for Disease Control and the Federal Emergency Management Agency to tell Americans precisely what is happening and to give clear, credible instructions. Direct, regular mass communication from competent scientific professionals, rather than from politicians and the media, can help to maintain calm, promote low-risk behavior, and avoid panics.

Furthermore, the Centers for Medicare & Medicaid Services should be authorized to cover the full costs of testing and treating COVID-19 cases, with no exceptions and no legal risks. Making tests and treatment “affordable” is not enough; the disease cannot be isolated by economic class. In a pandemic there is no acceptable alternative to making care universal and free of cost.

Read more …

This is a global issue, not an American one.

Don’t Test, Don’t Tell: The Bureaucratic Bungling of COVID-19 Tests (Ben Hunt)

As I write this essay on March 5th, there are more confirmed coronavirus infections in Harris County, Texas (five) acquired by Americans who traveled to Egypt than there are confirmed cases within the entire country of Egypt (three). Why? Because Egypt has only tested a few hundred people in this country of 100 million. There are more confirmed coronavirus infections in the city-state of Singapore (three) acquired by Singaporeans who traveled to Indonesia than there are confirmed cases in the entire country of Indonesia (two). Why? Because Indonesia has only tested a few hundred people in this country of 265 million. With the exception of South Korea and Italy (and perhaps Australia and the UK), pretty much every nation in the world has adopted some form of Don’t Test, Don’t Tell.

The offenders include rich countries like the United States and Japan, vast countries like Indonesia and India, communist countries like China and Vietnam, theocracies like Iran and Saudi Arabia, oligarchies like Russia and Nigeria, social democracies like Germany and France. Don’t Test, Don’t Tell knows no geographic or ideological boundary. And so you might ask: is this a difficult or expensive test to make? Is there some fundamental reason of technology or economics why a country might find itself forced to pursue a policy of Don’t Test, Don’t Tell? Nope. It’s a relatively simple test to develop and administer in vast quantities. There are probably half a dozen university and industry labs in Jakarta or Nairobi, much less Moscow or Chicago, that could crank out a few thousand test kits per week if they wanted to. Or rather, if they were allowed to.

Now that doesn’t mean that you can’t screw up the coronavirus test if you really set your mind to it. And in fact, that’s exactly what the CDC did in January, when they rejected the World Health Organization’s proposed test panel for SARS-CoV-2 (the official name for this particular novel coronavirus which causes the disease COVID-19) in favor of a gold-plated test panel of the CDC’s own design. After all, why just test for SARS-CoV-2 when you could also test for other SARS and MERS viruses? Unfortunately, with complexity came error, and these initial CDC triple-test kits had a flaw in one of the multiple tests, ruining the entire test. Now the CDC is producing a solo test for the SARS-CoV-2 virus, but this fiasco set us back weeks in test-kit supply.

So if it’s not a difficult or expensive test to make, why are so many countries pursuing a policy of Don’t Test, Don’t Tell? The answer, of course: to maintain a political narrative of calm and competence.

Read more …

Don’t tell Rick Santelli.

Coronavirus Matters, The Stock Market Doesn’t (IC)

Before a new strain of coronavirus began sprinting around the world, all these problems with the stock market may have seemed abstract. But they are now extremely concrete. Think about what we could have done to prepare for this moment, if we’d been less mesmerized by little numbers on screens and paid more attention to the reality right in front of us. One aspect of reality is that some diseases are extremely contagious and can kill you. That’s why everyone in America would be far better off right now if we had robust, universal health care, even the people who had to sell some of their shares in Apple to help pay for it. Likewise, scientists have been warning for decades about exactly this kind of infectious disease.

One of their suggestions was for the U.S. government to help pay to improve the public health infrastructure in poorer countries. We may all quite soon regret not doing this, even if it would have required making Amazon pay a tax rate greater than 1.2 percent and hence denting their stock price. And if we’d been less transfixed by what corporations were doing, we could have realized what they can’t do. In the imaginary world of economic textbooks, a huge pharmaceutical company would have poured tens of billions into developing the capacity to more quickly perfect and manufacture vaccines in huge volumes, so that the omniscient stock market would reward them for their prescience. Here on Earth, the stock market would have punished any company that took such a big risk with an uncertain payoff.

Yet we couldn’t see that the only way to better prepare for the new coronavirus would have been with much greater government action. And there are pernicious effects of our stock market love affair that are even more subtle. When deciding what to do with their lives, young people learn what to value from adults, and what adults have been telling them is that what’s valuable is corporate wealth. Imagine how much better we’d all feel now if 1,000 of America’s smartest financial engineers had heard instead that the most important, respected thing they could do was become an epidemiologist. But instead of investing in genuine wealth, the kind of wealth that keeps us alive, we preferred to chase the phantom wealth of the stock market. Now as the phantom wealth dissolves, we may come face to face with our decision to be poor in what truly matters.

Read more …

“The surgical mask supply went from being 90% U.S.-made to being 95% foreign-made in literally one year..”

Not Enough Face Masks Are Made In America To Deal With Coronavirus (NPR)

Mike Bowen’s been a very busy man. He’s executive vice president of Texas-based Prestige Ameritech, one of the few manufacturers of respirators and surgical face masks still making them in the United States. “I’ve got requests for maybe a billion and a half masks, if you add it up,” he says. That’s right — 1.5 billion. Since the coronavirus started spreading in January, Bowen says he’s gotten at least 100 calls and emails a day. “Normally, I don’t get any,” he says. [..] His company simply can’t keep up with demand. 3M — one of the biggest mask makers — is in the same predicament. It says it’s stepping up production at its factories around the world, but it can’t fulfill all the new orders.

The World Health Organization this week warned against hoarding and panic-buying of critical protective gear. “Without secure supply chains, the risk to health care workers around the world is real,” WHO Director-General Dr Tedros Adhanom Ghebreyesus said. “Industry and governments must act quickly to boost supply, ease export restrictions and put measures in place to stop speculation and hoarding.” Concern about shortages of face masks used by doctors and nurses is prompting hospitals around the world to clamor for medical supplies as the coronavirus continues its infectious spread. In response, the Trump administration is looking at ways to rapidly expand domestic production, but the economics of the face-mask business makes that difficult.

This is a cycle familiar to Bowen. During what he calls “peacetime,” when there are no outbreaks, there are few buyers of masks. During an epidemic, there’s suddenly limitless demand. [..] Prestige Ameritech, for example, owns a limited number of machines that assemble, sew and shape the masks. A decade ago, it ramped up production in response to the swine flu outbreak by buying more machines and hiring 150 new workers. “We made a really big mistake,” Bowen says of that decision. It took about four months to build the new machines, which are as long as a school bus and cost as much as $1 million. By the time they were ready, the swine flu crisis had ended, demand vaporized, and Prestige Ameritech almost went bankrupt.

“One day — and it is literally almost like one day — it just quits. The demand is over, the phones stop ringing,” Bowen says. To make matters worse, the hospitals and medical supply companies suddenly had a glut of masks; they stopped buying for months. That was a business headache. But the recent shortages also show how a lack of steady orders can create a sudden national security risk. The seeds of that problem, says Bowen, can be traced back 15 years. That’s when many mask factories moved overseas, where masks could be made at a fraction of Bowen’s costs. Most notably, he says, Kimberly-Clark, which used to be one of the industry leaders, moved its operations. “The surgical mask supply went from being 90% U.S.-made to being 95% foreign-made in literally one year,” Bowen says.

Read more …

Makes sense if 95% comes from China.

US Excludes Chinese Face Masks, Medical Gear From Tariffs (R.)

The U.S. Trade Representative’s office in recent days granted exclusions from import tariffs for dozens of medical products imported from China, including face masks, hand sanitizing wipes and examination gloves, filings with the agency showed on Friday. Many of the exclusion requests for medical products appear to have been expedited amid the rapidly spreading coronavirus outbreak, with approvals granted just over one month past a Jan. 31 application deadline. Requests to exclude other products from President Donald Trump’s Section 301 tariffs on Chinese goods have taken months.


Apple’s requests for exclusions on products from AirPod headphones to the HomePod smart speaker filed on Oct. 31 are still pending. Medline International Inc has already received exclusions on 30 products ranging from surgical gowns to face masks and medicine cups, most of which the company applied for at the end of January. A number of the exclusions were granted on Thursday, USTR documents showed. The products were included in a fourth round of tariffs on Chinese goods imposed by Trump on Sept. 1, 2019, amid heated U.S.-China trade negotiations.

Read more …

The PPT looks old and tired.

Virus Concerns Drag Down Wall Street, But Indexes Eke Out Weekly Gains (R.)

U.S. stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified, though Wall Street’s major indexes ended well above their session lows. The S&P 500 posted its 10th decline in 12 sessions as moves to contain the virus crippled supply chains and prompted a sharp cut to global economic growth forecasts for 2020. Since its record closing high on Feb. 19, the benchmark index has lost more than 12%, wiping out $3.43 trillion from its market capitalization, according to S&P Dow Jones Indices. Even so, for the week the S&P 500, along with the Dow Jones Industrial Average and the Nasdaq, posted a modest gain as stocks on Friday pared losses late in the session.

Comments from Federal Reserve officials about the possibility of using other tools in addition to interest rate cuts to blunt the economic impact of the coronavirus helped stocks ease declines, said Alicia Levine, chief strategist at BNY Mellon Investment Management in New York. Nonetheless, “it’s very unclear what the economic impact will be,” Levine said. Yields on long-dated U.S. Treasuries fell to record lows as investors fled to bonds, whose prices move inversely to their yields. The drop in Treasury yields weighed heavily on shares of financial companies, which tumbled 3.3%. The S&P 500 banks index dropped 4.7%, bringing its total decline for the week to more than 8%.

Shares of cruise operators Carnival Corp and Royal Caribbean Cruises Ltd slid after Reuters reported that the administration of President Donald Trump was considering ways to discourage U.S. travelers from taking cruises. Carnival shares fell 2.6%, and Royal Caribbean shares dropped 1.2%. “The decline today is all about the efforts to contain the spread of the virus,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management in Boston. “The measures being taken could dampen commerce and consumer activity, and markets are responding to that.”

Read more …

These days, it’s as American as apple pie.

Americans Divided On Party Lines Over Risk From Coronavirus (R.)

Americans who now find themselves politically divided over seemingly everything are now forming two very different views of another major issue: the dangers of the new coronavirus. Democrats are about twice as likely as Republicans to say the coronavirus poses an imminent threat to the United States, according to a Reuters/Ipsos poll conducted this week. And more Democrats than Republicans say they are taking steps to be prepared, including washing their hands more often or limiting their travel plans. Poll respondents who described themselves as Republicans and did not see the coronavirus as a threat said it still felt remote because cases had not been detected close to home and their friends and neighbors did not seem to be worried, either.


“I haven’t changed a single thing,” Cindi Hogue, who lives outside Little Rock, Arkansas, told Reuters. “It’s not a reality to me yet. It hasn’t become a threat enough yet in my world.” Many of the U.S. cases that have been reported so far have been in Washington state and California, more than 1,000 miles away from Arkansas. Politics was not a factor in her view of the seriousness of the virus, Hogue said. Other Republican respondents interviewed echoed that sentiment. But the political divide is nonetheless significant: About four of every 10 Democrats said they thought the new coronavirus poses an imminent threat, compared to about two of every 10 Republicans.

Read more …

19 crew members, 2 passengers. There are over 1,000 crew aboard.

21 People On Grand Princess Cruise Ship Test Positive – Pence (NBC)

Vice President Mike Pence said Friday that 21 people aboard a cruise ship that’s being held off the coast of California have tested positive for the coronavirus. The California Air National Guard had delivered 46 tests to the Grand Princess, which has been offshore since Wednesday. Of the 46 passengers tested, Pence said 21 people, 19 employees and two passengers, had tested positive. Twenty-four tested negative, and one was inconclusive, Pence said. There are over 3,500 people on board the ship, which is anchored near San Francisco. All passengers will be brought into port in the U.S. over the weekend and tested, said Pence, who is leading the Trump administration’s response to the outbreak.


“Those who need to be quarantined will be quarantined. Those who require additional medical attention will receive it,” he said. Officials said crew members are likely to be quarantined aboard the ship, while passengers could be quarantined at military bases. Pence spoke shortly after President Donald Trump, touring Centers for Disease Control and Prevention headquarters in Atlanta, told reporters that he’d rather people be kept on the ship because otherwise they’ll add to the country’s coronavirus statistics. “I like the numbers being where they are. I don’t need to have the numbers double because of one ship that wasn’t our fault. And it wasn’t the fault of the people on the ship either, ok? It wasn’t their fault either and their mostly Americans,” Trump said. But, he added, he would abide by what Pence and his team of “great experts” decide.

Read more …

The word “tumble” makes it sound almost light. The incredible lightness of collapse.

China January-February Exports Tumble, Imports Slow (R.)

China’s exports contracted sharply in the first two months of the year, as the fast spreading coronavirus outbreak caused massive disruptions to business operations, global supply chains and economic activity. Imports also fell but were better than analyst expectations. The gloomy trade report is likely to reinforce fears that China’s economic growth halved in the first quarter to the weakest since 1990 as the epidemic and strict government containment measures crippled factory production and led to a sharp slump in demand. Overseas shipments fell 17.2% in January-February from the same period a year earlier, customs data showed on Saturday, marking the steepest fall since February 2019.


That compared with a 14% drop tipped by a Reuters poll of analysts and a 7.9% gain in December. Imports sank 4% from a year earlier, better than market expectations of a 15% drop. They had jumped 16.5% in December, buoyed in part by a preliminary Sino-U.S. trade deal. China ran a trade deficit of $7.09 billion for the period, reversing an expected $24.6 billion surplus in the poll. Factory activity contracted at the fastest pace ever in February, even worse than during the global financial crisis, an official manufacturing gauge showed last weekend, with a sharp slump in new orders. A private survey highlighted similarly dire conditions.

Read more …

What on earth is he up to now? Anyway, Hunter will be a major issue.

Romney To Vote For Subpoena Seeking Hunter Biden Ukraine Records (Pol.)

Sen. Mitt Romney will vote in favor of a subpoena seeking records about the work Joe Biden’s son Hunter did for the Ukrainian energy firm Burisma, a spokeswoman for the Utah Republican said on Friday. Romney’s decision comes after several days of expressing dismay over the Senate Homeland Security Committee’s investigation targeting the Bidens, even suggesting on Thursday that the panel shouldn’t even be looking into the issue. But after securing certain commitments from the committee’s chairman, Sen. Ron Johnson (R-Wis.), Romney has decided to support the subpoena when the panel votes on it next Wednesday — all but ensuring it will be issued. “Senator Romney has expressed his concerns to Chairman Johnson, who has confirmed that any interview of the witness would occur in a closed setting without a hearing or public spectacle,” Romney’s spokeswoman Liz Johnson said.


“He will therefore vote to let the chairman proceed to obtain the documents that have been offered.” Romney has said in recent days that the committee’s investigation into the Bidens has the “appearance” of being politically motivated, given Biden’s resurgence in the Democratic presidential primary. Romney was the only Republican who voted to convict President Donald Trump in his impeachment trial last month, saying he believed Trump violated his oath of office when he pressured the Ukrainian government to investigate the Bidens. “There’s no question the appearance is not good,” Romney told reporters on Thursday, later adding: “I would prefer that investigations are done by an independent, nonpolitical body.”

Read more …

The Trump campaign would be willing to spend bigly to make Biden the Dem candidate. But they get him for free. Then again, the Dems can’t be dumb enough to run with him, can they?!

Biden Racks Up Endorsements As Sanders Goes On The Attack (R.)

Two former presidential rivals endorsed Joe Biden on Friday in the latest sign that the Democratic establishment is coalescing around the former vice president to stop the candidacy of Bernie Sanders, who ratcheted up attacks on his rival ahead of crucial contests next week. Former Massachusetts Governor Deval Patrick and John Delaney, a former Maryland congressman – both onetime 2020 candidates – backed Biden, as did a slew of other Democratic officials in states soon to hold nominating contests. Sanders, who is desperate to regain some momentum after Biden’s strong ‘Super Tuesday’ showing this week, launched a full-throated attack on his rival, assailing Biden over his record on trade, abortion, gay rights and Social Security.

The pair contest six Democratic nominating contests on Tuesday, including the big prize of Michigan, with 125 of the 1,991 delegates needed to win the nomination at stake. Sanders, a U.S. senator from Vermont who was until recently the front-runner in the party’s race to face Republican President Donald Trump in November, now trails in delegates. A big win for Biden in Michigan would deliver another major blow to Sanders’ hopes of becoming the nominee. Ahead of Michigan’s primary, the state’s lieutenant governor, Garlin Gilchrist II, backed Biden, as did part of the state’s United Food and Commercial Workers Union, and former U.S. Senator Carl Levin. Four other states will hold primary elections on Tuesday: Idaho, Mississippi, Missouri and Washington state. North Dakota will hold caucuses.

At a news conference in Phoenix, Arizona, on Friday, Sanders dug deep into Biden’s 40-year record. He criticized Biden for having opposed the rights of gay people to serve in the U.S. military and for voting against federal funding for abortions, stances the former vice president has since rejected. “I was there on the right side of history, and my friend Joe Biden was not,” Sanders said. Sanders also lambasted Biden for supporting trade deals he said had been “a disaster for Michigan” and accused Biden of trying in the past to cut Social Security, the government-run pension and disability program. Biden, who denies ever advocating cuts to Social Security, snapped back in a tweet on Friday: “Get real, Bernie. The only person who’s going to cut Social Security if he’s elected is Donald Trump. Maybe you should spend your time attacking him.”

Warren’s exit meant that what had been hailed as the most diverse field of candidates in U.S. history narrowed to a race for the nomination between two white, septuagenarian men. Tulsi Gabbard, a congresswoman from Hawaii with virtually no chance of winning, is the only other remaining Democratic candidate. On Friday, the Democratic National Committee, which oversees the party’s presidential debates, released new qualifying thresholds for the next debate in Arizona on Mar. 15. Candidates will need at least 20% of delegates awarded so far, essentially excluding Gabbard, who has won less than 1 percent.

Read more …

No report will be accepted that doesn’t call the crew incompetent. If they had been American, they’d be labeled heroes.

Ethiopian Draft Report Blames Boeing For 737 MAX Plane Crash (R.)

A draft interim report from Ethiopian crash investigators circulated to U.S. government agencies concludes the March 2019 crash of a Boeing 737 MAX was caused by the plane’s design, two people briefed on the matter said Friday. Unlike most interim reports, this one includes a probable cause determination, conclusions and recommendations, which are typically not made until a final report is issued. The U.S. National Transportation Safety Board has been given a chance to lodge concerns or propose changes, the people said, declining to be identified because the report is not yet public.

[..] According to Bloomberg News, which first reported the contents of the interim draft, the conclusions say little or nothing about the performance of Ethiopian Airlines or its flight crew and that has raised concern with some participants in the investigation. The Ethiopian interim report contrasts with a final report into the Lion Air crash released last October by Indonesia which faulted Boeing’s design of cockpit software on the 737 MAX but also cited errors by the airline’s workers and crew. Ethiopian Airlines flight 302 crashed in an open field six minutes after take-off from Addis Ababa, the Ethiopian capital, killing 157 passengers and crew. The Boeing 737 MAX has been grounded worldwide for nearly a year after the two fatal crashes.

Under rules overseen by the United Nations’ Montreal-based aviation agency, ICAO, Ethiopia should publish a final report by the first anniversary of the crash on March 10 but now looks set to release an interim report with elements that would normally be included in the final report.

Read more …

Russia prohibits itself from a first strike. The US does not.

Starting A Nuclear Conflict Now ‘A Political Option’ For US – Moscow (RT)

The US is expanding its nuclear capability with new types of low-yield weapons, and Moscow believes US strategists now consider launching a nuclear strike as a viable option in a conflict. The US has made adjustments to its nuclear posture and has been introducing low-yield nuclear warheads to its arsenal, including those that can be launched from submarines. Russia sees such developments with great concern, the spokesperson for the Russian Foreign Ministry Maria Zakharova told journalists on Friday. The developments make Moscow believe that the American leadership “has made a decision to consider a nuclear conflict as a viable political option and are creating the potential necessary for it.”


She rejected US justification of the upgrade by pointing the finger at Russia, and called on Washington to adhere to nuclear non-proliferation and reduction goals, saying that the path of “unrestricted growth of military strength,” which it was pursuing, was “a road to a dead end”. Unlike Russia, the US never made a formal commitment not to be the first to use nuclear weapons in a conflict. Russia’s nuclear doctrine says it may use nuclear weapons in response to a conventional attack that threatens the existence of Russia as a sovereign state, but otherwise the nuclear option would only be used in response to an attack with weapons of mass destruction.

Read more …

Erdogan aims to use his Russian contacts against the US, and vide versa. He now lost Russia, Putin will never allow him his Idlib sanctuary for terrorists. So expect him to fly to Washington soon.

Ceasefire In Syria’s Idlib Comes At A Cost For Turkey’s Erdogan (R.)

After six hours of talks with Vladimir Putin, a somber Erdogan announced an accord which cements territorial gains by Russian-backed Syrian forces over Turkish-backed rebels. Returning from Russia, Erdogan said his deal with Putin will lay the ground for stability in Idlib and protect civilians who could otherwise become refugees in Turkey, after months of fighting that has displaced nearly a million people. “The ceasefire brings about important gains,” he said. The agreement, if it holds, does stem the advances of forces loyal to President Bashar al-Assad, easing Ankara’s greatest fear – an influx of Syrians fleeing bombardment in Idlib and clamoring to cross its border and join 3.6 million Syrian refugees already in Turkey.


But by freezing the front lines, and agreeing joint Russian-Turkish patrols on a major east-west highway running through Idlib, the deal consolidates Assad’s recent battlefield victories and allows Russia to deploy deeper into Idlib than before. “The Syrian army was stopped, but not repelled. That is perhaps Turkey’s biggest loss,” said Ozgur Unluhisarcikli of the German Marshall Fund. Assad’s progress in weeks of fierce combat includes taking full control of the other main highway running through Idlib, the north-south road linking the capital Damascus to Aleppo and other important Syrian cities. In Moscow, Thursday’s deal was widely seen as a triumph for Putin and Assad at Erdogan’s expense. “The agreement is unexpectedly more favorable to Russia and Damascus…,” said former pro-Putin lawmaker Sergei Markov. “Russia is winning on the battlefield and that’s why it’s winning on the diplomatic front.”

Read more …

 

An odd couple for many. But Tucker, other than RT, is the only one talking to Roger Waters.

 

 

 

If you read us, please support us. It’s the only way the Automatic Earth can survive. Donate on Paypal and Patreon.

 

Mar 062020
 
 March 6, 2020  Posted by at 11:22 am Finance Tagged with: , , , , , , , , , , , ,  25 Responses »


Russell Lee Proprietor of small store in market square, Waco, Texas Nov 1939

 

China Pharma Exports Cut Would “Plunge US Into Mighty Sea Of Coronavirus” (ZH)
Coronavirus Could Erase $211 Billion From Asia-Pacific Economies – S&P (R.)
South Korea Protests Japan Travel Curbs As Corona Ignites Diplomatic Row (R.)
Vietnam Able To Make 10,000 Coronavirus Test Kits Per Day (VnE)
Boeing 737 MAX Certification Flight Could Come Within ‘A Few Weeks’ (R.)
Trump Attacks Biden’s Cognitive Health (G.)
Romney Says US Senate Republican Probe Of Biden Appears Political (R.)
Senator Schumer Expresses Regret For Supreme Court Comments (R.)
Elizabeth Warren’s Campaign Fell Apart In The Fall, And It Never Recovered (IC)
FBI Agents Linked To Carter Page Surveillance Barred From FISA Process (Turley)
Uneasy Calm In Syria’s Idlib As Russia-Turkey Ceasefire Takes Effect (R.)
Turkey Sends 1,000 Special Forces To EU Border To Prevent Migrant Return (ZH)
Erdogan’s Attempts to Blackmail Europe are Doomed to Fail (Coughlin)

 

 

The coronavirus focus shifts decidedly to the west. The increases in cases in the US and many European countries are scary. Greece from 9 to 31 cases, Germany doubles to 577, Netherlands have their first death. It’s been a while since we saw over 3,000 new cases in a day. The last time was when most were still in China.

We’ll pass 100,000 cases later today.

And judging from what US political figures and pundits say these days, you’d swear the virus may have reached their brains.

 

Cases 98,928 (+ 3,048 from Tuesday’s 95,880)

Deaths 3,390 (+ 102 from yesterday’s 3,288)

 

• Italy cases rise to 3,859 from 3,090 yesterday

• Netherlands cases rise from 38 to 82 (First death today)

• Germany cases from 283 to 577

• France cases from 285 to 423

• US cases from 158 to 233

• Canada cases from 37 to 48

• Sweden 52 to 101

• Belgium 23 to 50

• Greece 9 to 31

 

 

• Iran shuts 60,000 mosques.

Ben Hunt on Twitter:
• Just heard that Wells Fargo ordered employees to cancel all domestic travel plans, likely to require employees to work from home starting Monday. Wells Fargo has >270,000 employees.
• Walmart canceled a national meeting next week in Dallas of senior execs, store managers and distributors. Domestic travel eliminated.
• Dupont has grounded all domestic and int’l employee travel, banned all visitors from office meetings, and is exploring mandatory WFH.
• Procter & Gamble is doing the same with travel and visitors.

 

 

• Rudy Havenstein: “HEALTH NEWS: When you get the coronavirus, the official CDC recommendation to treat a runny nose, sore throat, cough, and fever is to lower the rate hedge funds can borrow at from 1.5% to 0%, and increase Treasury purchases to $200 billion per month.”

 

From SCMP:

 

 

From Worldometer (Note: mortality rate at 6%):

 

 

From COVID2019.app:

 

 

 

 

The benefits of globalization keep on giving.

China Pharma Exports Cut Would “Plunge US Into Mighty Sea Of Coronavirus” (ZH)

China’s CCP media mouthpiece, Xinhua News, has published a new article titled “Be bold: the world owes China a thank you.” In it, the author suggests that the coronavirus outbreak is much worse in the United States than authorities are letting on – while noting that President Trump praised China’s measures to control the outbreak during a recent press conference. Xinhua also points out that the US stock market “has plummeted continuously, with a drop of more than 12% in just one week.” The article then suggests the travel ban imposed on China – including the restriction of people who have visited China – was ‘unkind,’ and has had a ‘great economic impact’ on the country. The punchline? If China retaliates against the United States at this time, including a travel ban or a strategic restriction over medical exports, America would be “plunged into the mighty sea of coronavirus.”

[..] 80% of present medicines consumed in the United States are produced in China. This includes Chinese companies and foreign drug companies that have outsourced their drug manufacture in joint ventures with Chinese partners. According to Rosemary Gibson of the Hastings Center bioethics research institute, who authored a book in 2018 on the theme, the dependency is more than alarming. Gibson cites medical newsletters giving the estimate that today some 80% of all pharmaceutical active ingredients in the USA are made in China. “It’s not just the ingredients. It’s also the chemical precursors, the chemical building blocks used to make the active ingredients. We are dependent on China for the chemical building blocks to make a whole category of antibiotics… known as cephalosporins. They are used in the United States thousands of times every day for people with very serious infections.”


The made in China drugs today include most antibiotics, birth control pills, blood pressure medicines such as valsartan, blood thinners such as heparin, and various cancer drugs. It includes such common medicines as penicillin, ascorbic acid (Vitamin C), and aspirin. The list also includes medications to treat HIV, Alzheimer’s disease, bipolar disorder, schizophrenia, cancer, depression, epilepsy, among others. A recent Department of Commerce study found that 97 percent of all antibiotics in the United States came from China.

Read more …

Never a more hollow number was seen. Might as well be a rounding error.

Coronavirus Could Erase $211 Billion From Asia-Pacific Economies – S&P (R.)

A fast spreading coronavirus outbreak could knock $211 billion off the combined economies of the Asia-Pacific, with Japan, Hong Kong, Singapore and Australia among the most exposed, S&P Global Ratings said on Friday. S&P cut its 2020 growth forecast for China to 4.8% from previous estimate of 5.7%. It forecast Australian growth to slow sharply to 1.2% from an already below-trend 2.2% in 2019. Japan would take 0.5 percentage point hit and Korea a 1 percentage point knock. “The balance of risks remains to the downside due to local transmission, including in economies with low reported cases, secondary transmissions in China as people return to work and tighter financial conditions,” S&P said in a report.


In other forecasts, Hong Kong’s economy would likely contract by -0.8% in 2020, Singapore’s would flat line, and Thailand’s expansion likely slow to 1.6%. [..] S&P did not cut growth forecasts for emerging markets of Indonesia, Malaysia, the Philippines and India, citing the fact that reported infections in those countries were still low. However, it noted the outlook could quickly deteriorate if the low level of cases was due to minimal testing and if those countries were swept up in financial contagion.

Read more …

An ideal time to squabble. Well done.

South Korea Protests Japan Travel Curbs As Corona Ignites Diplomatic Row (R.)

South Korea issued a strongly worded protest on Friday against Japan’s decision to quarantine South Korean visitors for two weeks, as coronavirus containment measures ignited a fresh diplomatic row between the Asian nations. Japan joined the list of almost 100 countries that have imposed restrictions on South Korean travelers, barring arrivals from highly affected areas starting on Saturday and ordering a two-week quarantine for those from other regions. The South Korean foreign ministry said Japan’s ambassador would be summoned to explain Tokyo’s decision and receive a formal complaint. Seoul has previously summoned ambassadors from Vietnam and Singapore over similar travel restrictions.


“It is extremely regrettable Japan took this unreasonable and excessive step without sufficient prior consultation with us, and we strongly urge immediate reconsideration,” it said. Prime Minister Chung Sye-kyun said Seoul would respond with countermeasures, although he gave no details on what actions could be taken. The presidential Blue House discussed the issue at a meeting of its National Security Council, an official said. The row came as the number of new cases in South Korea, the country with the biggest outbreak of the flu-like virus outside China, fell to 196 from 760 the previous day, for a total of 6,284 infections. The death toll rose by seven to 42, the Korea Centers for Disease Control and Prevention (KCDC) said.

Read more …

Everyone’s better prepared than us.

Vietnam Able To Make 10,000 Coronavirus Test Kits Per Day (VnE)

The Ministry of Health has licensed commercial production of test kits that help diagnose the novel coronavirus infection in just one hour. It was developed jointly by the Vietnam Military Medical University and tech firm Viet A Corporation. It is based on reverse transcription polymerase chain reaction (RT-PCR), a technique that combines reverse transcription of RNA into DNA and amplification of specific DNA targets using a polymerase chain reaction (PCR). The kit can detect the new coronavirus in specimens of droplets obtained from the respiratory tract and blood samples.


Do Quyet, director of the university, said all tests done by the university and Viet A Corporation found the kit meeting World Health Organization and U.S. Centers for Disease Control and Prevention standards. Independent testing of the kit by the National Institute of Hygiene and Epidemiology on various disease samples using five different devices turned up completely accurate results every time, he said. [..] Phan Quoc Viet, CEO of Viet A, said his company could make 10,000 kits a day, and triple the capacity if needed. Authorities said this capacity would enable Vietnam to not only meet domestic demand but also export. China, the U.S., Japan, Germany, and now Vietnam are the only countries to make test kits for the new coronavirus.

Read more …

An A+ for timing. The industry announced just yesterday they expected losses of $120 billion or so.

Boeing 737 MAX Certification Flight Could Come Within ‘A Few Weeks’ (R.)

U.S. Federal Aviation Administration chief Stephen Dickson said on Thursday he thinks a certification test flight for the Boeing 737 MAX – a key milestone for the return of the grounded plane – could come soon. “We’re working though the last few software review and documentation issues and then I think within a matter of a few weeks we should be seeing a certification flight,” Dickson said at a Washington aviation conference. Reuters has previously reported that a certification flight is not expected until April and officials said that is still the case. The 737 MAX has been grounded for almost a year after two fatal crashes killed 346 people in five months.

Read more …

If you kill this an attack, you’ll run out of words soon.

Trump Attacks Biden’s Cognitive Health (G.)

Donald Trump attacked Joe Biden’s cognitive abilities on Thursday night during an event in the former-vice president’s hometown that could set the tone for an ugly general election. Appearing at a Fox News town hall in Scranton, Pennsylvania, Trump – who has faced repeated scrutiny over his own mental acuity – said there was “something going on” with Biden, in what may prove a rehearsal for Republican attacks during the presidential election. Thursday marked Trump’s first public event since Biden’s surprisingly strong performance on Super Tuesday, when he won 10 out of 14 states available to propel him into the lead in the Democratic primary.


Trump said he had been “all set” to face Biden’s rival Bernie Sanders, whom he called a “communist”, until the recent vote. “Then we have this crazy thing that happened on Tuesday, which [Biden] thought was Thursday, but he also said 150 million people were killed with guns and that he was running for the United States Senate. There’s something going on there,” Trump said. Biden – who did say those things – has a track record of gaffes and has turned in bumbling debate performances, but Trump’s line of attack raised the unedifying spectacle of an election focused on two men in their 70s attacking each other’s alleged cognitive decline.

Read more …

What sounds really political is Romney saying it.

Romney Says US Senate Republican Probe Of Biden Appears Political (R.)

U.S. Senator Mitt Romney, the lone Republican to vote to convict President Donald Trump of abuse of power following his impeachment, said on Thursday a Senate Republican investigation of Democratic presidential front-runner Joe Biden appeared politically motivated. Romney told reporters a probe of Hunter Biden, Joe Biden’s son, by Senate Homeland Security Committee Chairman Ron Johnson would be better pursued by the FBI or another federal agency “if there’s something of significance that needs to be evaluated.” Johnson is poised to issue the first subpoena in an investigation of Hunter Biden’s seat on the board of Ukrainian gas company Burisma when his father was U.S. vice president. Hunter Biden’s role has been attacked as corrupt without evidence by Trump and congressional Republicans.


“There’s no question but that the appearance of looking into Burisma and Hunter Biden appears political. And I think people are tired of these kind of political investigations,” Romney, a member of the homeland security panel, said. Trump was impeached on abuse-of-power and obstruction charges in the Democratic-led House of Representatives after he asked Ukraine to investigate the Bidens in July. He was acquitted by the Republican-controlled Senate. Democrats said Trump was trying to shore up his re-election prospects by targeting Biden. Trump continues to question Hunter Biden’s position at Burisma. “That will be a major issue in the campaign,” Trump told Fox News on Wednesday night. “I will bring that up all the time.”

Read more …

Brain virus.

Senator Schumer Expresses Regret For Supreme Court Comments (R.)

Chuck Schumer, the top U.S. Senate Democrat, expressed regret on Thursday for remarks he made a day earlier that two Supreme Court justices appointed by President Donald Trump would “pay the price” if they rule in favor of abortion restrictions. “I’m from Brooklyn. We speak in strong language. I shouldn’t have used the words I did. But in no way was I making a threat. I never, never would do such a thing,” Schumer said on the Senate floor amid Republican demands that he apologize for his comments about Justices Neil Gorsuch and Brett Kavanaugh. Schumer seemed to stop short of a full apology, saying instead that the words he used during an abortion rights rally outside the Supreme Court building directed at the two conservative justices “didn’t come out the way I intended to.”

“Of course I didn’t intend to suggest anything other than political and public-opinion consequences for the Supreme Court. And it’s a gross distortion to imply otherwise,” Schumer said. Fifteen Republican lawmakers introduced a Senate resolution on Thursday seeking to formally censure Schumer for what they called his “threatening statements” and to call on senators to “respect the independence” of the federal judiciary. At the Wednesday rally, Schumer said the two justices “won’t know what hit you” if they rule in favor of abortion restrictions in a case the Supreme Court was hearing that day involving a challenge to the legality of a Louisiana law that could make the procedure more difficult to obtain. “I want to tell you Gorsuch, I want to tell you Kavanaugh – you have released the whirlwind, and you will pay the price,” Schumer said during the speech.


Chief Justice John Roberts hours later condemned Schumer’s comments as “inappropriate” and “dangerous.”

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She herself looks on the edge of falling apart too.

Elizabeth Warren’s Campaign Fell Apart In The Fall, And It Never Recovered (IC)

Throughout 2019, Uncle Joe was barely touched by his opponents, each of whom hoped that either somebody else would hit him first or that Biden would just self-combust. Nobody wanted to look like they were doing Trump’s bidding, as he went after Biden relentlessly for corruption in Ukraine. And the two candidates who hit Biden head-on — Kamala Harris and Julián Castro — soon enough became cautionary tales. But had Warren done to Biden in the fall what she did to Bloomberg just recently, she may not have been the one to pay the price.

If a genuine ideological debate had broke out between Biden and Warren over the social role of Wall Street and corporate America, while Sanders was still struggling to escape the low double digits, a large swath of progressives may have rallied to Warren, eager for the fight. Warren had come into public life battling Biden over bankruptcy, and some of her harshest rhetoric ever has been directed at him, particularly as she warned that “senators like Joe Biden should not be allowed to sell out women in the morning and be heralded as their friend in the evening.” Instead, campaign advisers argued that the race should be treated more as if it was a game of golf — each player hitting their own shots, aiming for the best round — rather than boxing, where a punch is blocked and met with a counterpunch.


Warren situated her campaign as the heir to several generations of persistent women — from the Bread and Roses strike, to the garment workers in New York, washerwomen in Atlanta, and janitors in Los Angeles — but stopped short of taking the fight directly to Biden until it was too late. (Though she did bury Buttigieg in a wine cave, which must have been satisfying, if not ultimately enough to win.) On Super Tuesday, it became clear that in a contest for the support of suburban voters, Sanders is at a major disadvantage. That’s not the case with Warren, but by the time that contest came, she was no longer in it.

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After obtaining numerous -fraudulent- FISA applications.

FBI Agents Linked To Carter Page Surveillance Barred From FISA Process (Turley)

In a further demonstration of the abuses that led to the surveillance of Trump officials, the Foreign Intelligence Surveillance Act (FISA) court has barred FBI officials involved in the wiretapping of former Trump campaign adviser Carter Page from appearing before the court. in rebuke that exceeded the remedial recommendations made by the independent monitor recently appointed by the court. Notably, this goes beyond the recommendations for David Kris, the highly controversial choice as an independent monitor of reforms. The order of Judge Boasberg further belies arguments that the surveillance of the Trump-relate figures was well-based and justified, as I discussed in any earlier column.


Boasberg declared “FBI personnel under disciplinary review in relation to their work on FISA applications accordingly should not participate in drafting, verifying, reviewing, or submitting such applications to the Court while the review is pending. The same prohibition applies to any DOJ attorney under disciplinary review, as well as any DOJ or FBI personnel who are the subject of a criminal referral related to their work on FISA applications.” We will have to wait to see if there are meaningful reforms of this court. Boasberg made a baffling mistake in the appointment of Kris. Moreover, this is not a permanent ban. Most importantly, Sen. Rand Paul is being opposed in his efforts to put serious protections in place, including opposition from the Justice Department.

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Rania Khalek has an excellent overview of the years of western involvement that led to the mess.

The ceasefire doesn’t solve a thing though. Assad and Putin will never accept a terrorist enclave in Syria. They want Al Qeada et al gone. But to achieve that, Turkey will have to withdraw first. That is what Erdogan and Putin discussed for 6 hours yesterday.

Uneasy Calm In Syria’s Idlib As Russia-Turkey Ceasefire Takes Effect (R.)

Syria’s war-battered Idlib region was quiet but tense on Friday as a ceasefire deal between Moscow and Ankara took effect, with residents and opposition forces describing a lull in air raids that have pounded the last rebel-held enclave in Syria. Russia and Turkey made the agreement on Thursday evening, after six hours of talks in Moscow, to contain a conflict that has displaced nearly a million people in three months in northwest Syria. Russia and NATO-member Turkey back opposing sides in Syria’s nine-year-old war. Moscow supports President Bashar al-Assad and Turkey backs some rebel groups, and the two sides had been edging closer to direct confrontation in recent weeks.


Several previous deals to end the fighting in Idlib have collapsed. Analysts and residents said they feared the latest ceasefire would also fizzle out as it did not address the humanitarian crisis or air protection in any detail. “This deal isn’t designed to last, rather it is designed to fail – and I am afraid in the not too distant future,” said Galip Dalay, IPC-Mercator fellow at the German Institute for International and Security Affairs. “Any ceasefire arrangement in Idlib, unless it has a no-fly zone dimension, is bound to fail. Deals in the past never de-escalated. They merely froze the crisis until the next escalation.”

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Somebody needs to stop Erdogan in Europe, and Putin doesn’t see that as his job.

Turkey Sends 1,000 Special Forces To EU Border To Prevent Migrant Return (ZH)

Starting last week multiple journalists published proof that Turkish authorities were actively facilitating refugee and migrant movement toward EU borders after Erdogan began making good on his prior threat to ‘open the gates’ — angry over the unfolding Idlib crisis. This included footage of buses staged in Istanbul and other cities to take thousands to the land border with Greece. And now Ankara is now openly saying it’s implemented a policy of not only pushing migrants to the border, but ensuring they won’t come back — even after Greece shut its border and has been seen using harsh tactics to keep people from entering in a heightened militarized response.


Turkish Interior Minister Suleyman Soylu announced Thursday the deployment of 1,000 special operations police officers to ensure migrants can’t return. “Turkey will deploy 1,000 special operations police officers to prevent migrant pushback at the border,” the minister said, according to Turkey’s Daily Sabah. The newspaper reported further: “Soylu told reporters that the European Union’s border protection agency Frontex and Greece have pushed 4,900 migrants back to Turkey since March 1.” He also claimed 164 migrants had been injured by Greek border security and Frontex. The interior minister also estimated that almost 140,000 migrants are in the first wave headed toward Europe, which began departing Turkey last Friday.

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Erdogan sees Brussels as weak. Who’s going to prove him wrong? Or, put another way: what does Erdogan have to lose?

Erdogan’s Attempts to Blackmail Europe are Doomed to Fail (Coughlin)

If Turkish President Recep Tayyip Erdogan believes he can bully European leaders by provoking a fresh migrant crisis in southern Europe, then he would be well-advised to think again. Ankara’s announcement that it is once again opening the floodgates to allow millions of refugees from Syria’s brutal civil war to travel to south-eastern Europe in search of refuge has been taken to persuade European leaders to back Turkey’s increasingly desperate situation in Syria. Having launched an ill-considered military offensive against the Assad regime in northern Syria, Mr Erdogan now finds himself facing the consequences of his action, with regime forces, backed by Russia and Iran, waging a highly effective campaign against the Turks, which has so far resulted in the deaths of scores of Turkish troops.

In addition, Turkey’s decision to deploy thousands of troops to Idlib province in northern Syria has resulted in a fresh wave of refugees fleeing across the border into southern Turkey, where Turkish officials are already struggling to cope with the estimated four million Syrian refugees that have already sought sanctuary in the sprawling refugee camps. One of the main reasons that Mr Erdogan now finds himself facing this difficult predicament is that he has badly underestimated the nature of his relationship with Russian President Vladimir Putin.


When Turkey took the controversial decision last year to purchase Russia’s state-of-the-art S-400 anti-aircraft missile system, Mr Erdogan calculated that it would herald new era of friendly cooperation with Ankara’s long-standing rival in Moscow even if, by pressing ahead with the deal, the Turks risked jeopardising their relationship with NATO, which bitterly opposed the deal. There was certainly an expectation in Ankara that improved relations with Moscow would result in better cooperation between the two countries on the post-conflict settlement in Syria, especially regarding Turkey’s desire to establish a safe zone in northern Syria.

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