Tuesday, March 31, 2020
As if we didn't have enough reasons to be angry at our "leaders".... Yes, "it didn't have to be this way". We should have had a much higher state of readiness to face this pandemic -- it was a certainty that sooner or later, one of this magnitude would hit. So faced as we've been with medical supply shortages, botched mobilization efforts, and contradictory/harmful official guidance -- it's inexcusable. But just as maddening is the predictable outcome we're seeing with governments' response to the economic crisis triggered by covid-19. In short, as happened in 2008, those who created the economic instability in the first place, by looting and abusing the system, are being bailed out -- generously. And the tab is being picked up by the taxpayer. Most folks don't realize this because the details are hidden behind the "we need to do whatever it takes" emergency measures and the alphabet soup of "facilities" being set up to pump the stimulus out. But at the end of the day, the trillions in forgivable loans and bailouts being funded come either directly from the public Treasury or from a reduction in purchasing power of our currency. Just as we were in 2008, we are being shafted to rescue the rich. But on a much larger scale this time. Chris walks through the numbers in today's video. These parasites are famous for saying "never let a crisis go to waste". Perhaps it's time for we citizens to do the same, and declare the current disaster as a reason to demand the risk-takers start eating their own losses.
Watch the second half regarding the economy. Recommend after 1 or 2 stiff drinks.
The economic debate of the day centers on whether the cure of an economic shutdown is worse than the disease of the virus. Similarly, we need to ask if the cure of the Federal Reserve getting so deeply into corporate bonds, asset-backed securities, commercial paper, and exchange-traded funds is worse than the disease seizing financial markets. It may be.
In just these past few weeks, the Fed has cut rates by 150 basis points to near zero and run through its entire 2008 crisis handbook. That wasn’t enough to calm markets, though — so the central bank also announced $1 trillion a day in repurchase agreements and unlimited quantitative easing, which includes a hard-to-understand $625 billion of bond buying a week going forward. At this rate, the Fed will own two-thirds of the Treasury market in a year.
Now that Congress has passed its broader humanitarian aid packages in response to the COVID-19 virus, it’s likely that the nation’s most fiscally irresponsible states will request bailouts for something completely unrelated to the virus: their bankrupt pension plans.
I don't know the state of Calpers, except that it's not great.
Estimates of the severity of coronavirus disease 2019: a model-based analysis - The Lancet Infectious Diseases
Using data on 24 deaths that occurred in mainland China and 165 recoveries outside of China, we estimated the mean duration from onset of symptoms to death to be 17·8 days (95% credible interval [CrI] 16·9–19·2) and to hospital discharge to be 24·7 days (22·9–28·1). In all laboratory confirmed and clinically diagnosed cases from mainland China (n=70 117), we estimated a crude case fatality ratio (adjusted for censoring) of 3·67% (95% CrI 3·56–3·80). However, after further adjusting for demography and under-ascertainment, we obtained a best estimate of the case fatality ratio in China of 1·38% (1·23–1·53), with substantially higher ratios in older age groups (0·32% [0·27–0·38] in those aged <60 years vs 6·4% [5·7–7·2] in those aged ≥60 years), up to 13·4% (11·2–15·9) in those aged 80 years or older. Estimates of case fatality ratio from international cases stratified by age were consistent with those from China (parametric estimate 1·4% [0·4–3·5] in those aged <60 years [n=360] and 4·5% [1·8–11·1] in those aged ≥60 years [n=151]). Our estimated overall infection fatality ratio for China was 0·66% (0·39–1·33), with an increasing profile with age. Similarly, estimates of the proportion of infected individuals likely to be hospitalised increased with age up to a maximum of 18·4% (11·0–7·6) in those aged 80 years or older.
TAMPA, Fla. (AP) — Florida officials have arrested the pastor of a megachurch after detectives say he held two Sunday services with hundreds of people and violated a safer-at-home order in place to limit the spread of the coronavirus.
According to jail records, Pastor Rodney Howard-Browne turned himself in to authorities Monday afternoon in Hernando County, where he lives. He was charged with unlawful assembly and violation of a public health emergency order. Bail was set at $500, according to the jail’s website, and he was released after posting bond.
Is Evergreen State College about to fold? Benjamin Boyce, who has become the indispensable reporter on the topic, thinks so. In a new video Boyce says current events lead him to believe “this college will be filing for bankruptcy, if not within the next week then by the end of the summer.” That’s a pretty big prediction so what is Boyce basing this on?
Harsh measures, including stay-at-home orders and restaurant closures, are contributing to rapid drops in the numbers of fevers — a signal symptom of most coronavirus infections — recorded in states across the country, according to intriguing new data produced by a medical technology firm.
Damning: New Evidence Suggests the Chinese Government Is Hugely Underreporting Coronavirus Death Toll
It is long past time for the American media to stop regurgitating Chinese propaganda, which exploits journalists' desire to cast President Trump's efforts in the worst possible light. The World Health Organization also appears to be at least somewhat compromised. The facts are clear: The disease did originate in China. It was covered-up by their government, harming the global response. And that cover-up is ongoing. Their formal tallies of infections and deaths are fiction, and their clumsy (yet successful) goodwill PR theatrics are also garbage: