211
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Trump Calls For $2T Infrastructure Package In Phase 4 Stimulus

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Trump Calls For $2T Infrastructure Package In Phase 4 Stimulus

President Trump has called for $2 trillion in infrastructure spending in the upcoming 'phase 4' coronavirus stimulus.



"With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country

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! Phase 4," Trump tweeted on Tuesday.




As we noted earlier, Congressional Democrats and the White House have been compiling their lists of what they say is needed in the next package.



Prime among them is "our infrastructure needs," according to House Speaker Nancy Pelosi, who told MSNBC on Tuesday that "Many more people are teleworking, or tele-educating or really communicating with family and friends."



"There are infrastructure needs that our country has that directly relate to how we are proceeding with the coronavirus. Many more people are teleworking, or tele-educating or really communicating with family and friends," said Pelosi, according to te Washington Times.




In an interview Tuesday with MSNBC, Pelosi said negotiators had already agreed that “everything will be specific to the coronavirus” in the next round of legislation and that it wouldn’t become a “wish list.”



In an interview with the New York Times published on Monday, Pelosi indicated that another possible move was getting rid of the limit on state and local tax deductions, or SALT, that was part of the 2017 tax overhaul and affects California, Pelosi’s home state, and New York. -Bloomberg (via Yahoo!)




Senate Finance Committee Chairman Chuck Grassley (R-IA) says Pelosi's SALT plan is "a nonstarter."



"Millionaires don’t need a new tax break as the federal government spends trillions of dollars to fight a pandemic," said spokesman Michael Zona.



 

Pelosi claims she won't rush to push the bill through and doesn't expect the package to be ready befor Easter, according to the . Instead, it will be ready for a vote when Congress returns.



The White House, meanwhile, has compiled their own list based on what US agencies say they need totaling roughly $600 billion, according to Bloomberg.




Tyler Durden

Tue, 03/31/2020 - 11:06
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Good News! Americans And Businesses Are Innovating To Fight The Coronavirus

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In a time of crisis, humans have an opportunity to help out their fellow man.
196
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Vulnerability In WPvivid Backup Plugin Could Expose Files Of WordPress Sites

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Researchers found a serious security vulnerability in the WPvivid Backup plugin threatening numerous WordPress sites. Upon exploitation, this plugin vulnerability



Vulnerability In WPvivid Backup Plugin Could Expose Files Of WordPress Sites on Latest Hacking News.

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"Too Early & Still Too High" - Goldman Sees A Bear Bounce, Not A Market Turn

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"Too Early & Still Too High" - Goldman Sees A Bear Bounce, Not A Market Turn

This bear market has been unusual to say the least, not because of the scale of the decline, but rather because of the speed and the volatility.



The average bear market (at least based on US history) experiences a decline of around 35% - very similar to the falls that were seen at the recent low in most markets in the current bear market.


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>

But, as Goldman Sachs' Peter Oppenheimer notes, the speed of the declines is what stands out as being exceptional; it is hard to believe that the US equity market was trading at a record high just five weeks ago. Its fall into bear market territory (the first 20% decline) took place in record time, just 16 trading days, compared with 44 in 1929, the previous fastest fall. Meanwhile, volatility has been at record levels.



After three consecutive days of moves of +/- 9% (the first such series since 1929), last week posted an 18% three-day rally in the US, and similar moves in many other markets. This was the strongest comparable return in the US since 1933 and in Europe on record.



So the question is - is this a bear-market rally to be faded like in 2008? Or is this is the market turn?





Goldman's Oppenheimer weighs the bull and bear case below, and his conclusion is clear: despite the scale of the policy support, which we agree is a necessary condition for markets to rebound, we think it is too early and the level and valuation of equity markets still too high.



Reasons to be optimistic

Does the rally mark a genuine turning point for equities? The scale of the likely hit to Q2 growth would be historic. Our economists have lowered again their forecasts for Q2, and now expect annualised falls of 34% in the US (over three times worse than the previous biggest quarterly decline in 1958), and over 40% in Europe – similar to the scale of the falls that China experienced in Q1. But many investors would argue that, while unprecedented, these numbers are no longer surprising or even shocking. Most seem to agree that with over 90% of the world's economies in effective lockdown, it is unsurprising that growth should fall significantly near term. It is what happens after the near-term collapse that the market is starting to discount. On this, there is encouraging evidence coming out of China and some other countries as production and demand start to recover (see China: Update of high frequency trackers on Chinese economic activity, 27 March 2020).



On the policy side, too, there are reasons to be encouraged. The support from both monetary policy and fiscal stimulus has been remarkable both in its size and swiftness. New initiatives have emerged at rapid speed to offset the worst impact of the downturn and to try to ensure a rapid and vigorous recovery. The Fed's new QE programme is now uncapped and it is supporting markets it doesn't normally support directly, in particular the commercial paper and credit markets. In effect, the Fed has taken more action than in the entire Global Financial Crisis (GFC) in just a few weeks. The ECB too, has shown more speed and flexibility than in the past. Its new QE package includes loosened criteria over how much debt can be bought in each country, allowing greater support for Italy in particular.



On the fiscal side too, our economists estimate the policy so far announced amounts to 3½% of GDP expansion globally. In addition, there have been government guarantees on loans and workers' pay. These measures should take deficits to around 8% of GDP in Germany and north of 10% for the US and UK. Meanwhile, Japan has also launched a fiscal package that exceeds that of the financial crisis era, and China, too, is focusing on a new rescue plan. Japan's ruling Liberal Democratic Party has proposed a stimulus package worth around US$556bn.



Reasons to be cautious

But despite the scale of the policy support, which we agree is a necessary condition for markets to rebound, we think it is too early and the level and valuation of equity markets still too high. Most equity markets, following the recent rally, are down only around 25-30% from their highs and these were highs not just in market levels, but also in valuation. While some valuation metrics have clearly come down from levels at the start of the year, the rally last week suggests that current market levels do not reflect the scale of EPS decline that we are forecasting. For example, we expect falls of 33% in the US and 45% in Europe. The bottom-up consensus numbers are as follows.





In addition, many of the valuation metrics no not look like crisis-level lows. For example, the European P/E based on consensus forward earnings is now back up to 12x 12m fwd – in the GFC and sovereign debt crisis they fell to a low of roughly 7x and 8x respectively (again both measured on forward consensus estimates).





Some valuation metrics, such as dividend yield, do look cheap, but this may not be enough. Our US strategists forecast S&P 500 dividends will decline by 25% to US$44 per share in 2020. Dividends actually rose by 9% during 1Q. However, they expect a wave of dividend suspensions, cuts, and eliminations will result in dividends declining by 38% during the next nine months so on a full-year basis dividends will be 25% below the level of 2019 — see US Equity Views: Dividends to fall by 25% in 2020: Highlighting 40 stocks for income-oriented investors (median yield of 4.0%), 30 March 2020.



In Europe, meanwhile, the French government has argued that companies in which the government has stakes should not pay dividends, and the government will vote against them during the AGM, while Norway has required financials to stop paying dividends. The German government may also impose restrictions on payouts by companies receiving state aid. Given that 10 of the 50 Euro STOXX 50 companies have government stakes, an apparently high dividend yield may not offer much support for investors.



The timing of any recovery in economic activity is also unclear. Currently our economists are assuming that recovery will start in May/June based on an assumption that we see a peak in the number of those infected and a sharp decline in new infections within the next couple of months. But this may be too optimistic. Furthermore, the rise in unemployment, particularly in the US, may dampen the speed of recovery. Last week’s jobless claims, for example, at over 3m showed the fastest rise in history – roughly 5x faster than the previous record in 1982.



The Bear Bounce

Last week, between March 23 and March 26 the MSCI AC World rallied 16% in 3 days, while the S&P's rally of 18% was the best 3-day rally since 1933. Last week overall was the strongest weekly performance for MSCI AC World since the GFC.





Our US strategists have shown that bear market rallies are quite common, particularly during the bear market of 2008. For example, between September and December 2008, the S&P 500 experienced six distinct bounces of 9% or more, with some rallies as large as 19%, during the course of between one and six trading days. But the market low did not occur until March 2009, when the pace of economic contraction began to slow.



Below, we extend this analysis to the global equity market.





Taking the experience of the bear markets since the 1980s, including the collapse of the technology bubble in 2000-2002 and the GFC in 2008, we see a pattern of rebounds before the market reaches a trough.



For example, during the GFC there were 6 rallies similar to the one we had last week. Below we show the 18 global bear market rallies since the dot-com bubble.








  • On average, they last 39 days and the MSCI AC World return is almost 15%.




  • Cyclicals outperform Defensives 83% of the time and by 4% on average.




  • We find a similar result at the regional level; EM outperforms DM 67% of the time and by more than 2% on average.




  • There is not a clear pattern in the performance of Value vs. Growth nor Small vs. Large caps.



Why do these bear market rallies occur?

Nothing falls in a straight line, so it would be unusual if there were never rallies within bear markets (or corrections in bull markets). But there are usually two reasons for these rallies:




(i) longer-term expectations of growth are starting to rise, even if short term is still pretty negative; and



(ii) policy measures.




For example, on the second point of policy the clearest one is the rally in end-2008 to early 2009, which coincided with the start of QE: On November 25, 2008, the Federal Reserve announced that it would purchase up to US$600bn in agency mortgage-backed securities (MBS) and agency debt. But that point did not actually mark the trough in equities.



We see the BYs generally rise during these bear market rallies - suggesting the longer-term inflation/real growth expectations are turning. That said, we found that in general our activity indicators are still falling during these rallies and often still fall in the months after they finish - in other words, they are not associated with near-term growth improvement.



*  *  *



Oppenheimer reiterates his warning from above: despite the scale of the policy support, which we agree is a necessary condition for markets to rebound, we think it is too early and the level and valuation of equity markets still too high.




Tyler Durden

Tue, 03/31/2020 - 09:15
173
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Empire State Building Debuts Dystopian Red ‘Siren’ Light

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"Anxiety inducing."
194
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Scientology’s Pandemic Pitch

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I was forwarded this email from the EDs of Salt Lake City “ideal” org. I reprint it here with spelling errors/typos exactly as it was received. Another confirmation that this org is closed (public are not receiving services physically inside the org) — but they then go on in typical scientology style to say the […]
211
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Pentagon Says Boot Camps Must Continue For 'National Security' Despite 'Putting Lives in Danger'

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Pentagon Says Boot Camps Must Continue For 'National Security' Despite 'Putting Lives in Danger'

Police are breaking up "coronavirus parties" in New Jersey, authorities are hunting down a Florida pastor for violating a 'health order' to not hold services, state troopers are enforcing quarantine orders along the Louisiana-Texas border, and yet it's business as usual for US military recruiting even as calls grow to close boot camps across the United States,

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especially at hard-hit coronavirus hot spots on the East and West coasts.



"Marine recruiters in the state hit hardest by the novel coronavirus have grave warnings about the military's decision to continue sending young men and women off to boot camp in the middle of a global pandemic," reports Military.com. "Marines at New York recruiting stations say it's only a matter of time before COVID-19, the serious illness caused by the coronavirus, sweeps through one of the service's two entry-level training depots."


Marine boot camp file image, via AiirSource Military/YouTube

Efforts have been implemented at Army and Marine recruiting offices to do remote virtual initial recruiting interviews; however, boot camp training grounds which see thousands of young future Soldiers, Marines, Sailors, and Airmen conduct drills and exercises in close quarters - also sleeping in close quarter barracks - have taken no initiative to halt or alter training. Crowded chow halls and dining facilities are also potential places of rapid outbreak.



Top Pentagon brass has said keeping entry-level recruit training operational is essential to national security, as Military.com notes based on a DoD policy ruling:




The Pentagon has decided that keeping all the services' entry-level training camps up and running is critical to national security. The decision was reportedly at odds with what some service leaders recommended: a temporary pause on recruit shipping until the threat of the coronavirus lessened.



Defense Department officials overrode the recommendations from senior military leaders to halt training for 30 days, The Washington Post reported March 16.




As of late in the day Monday, the Marine Corps announced it would delay sending new recruits to Parris Island, South Carolina. Yet basic training for the thousands of recruits already there will continue, the statement said.




It may be too-little-too-late, as one Marine interviewed by Military.com said, "Decision-makers are absolutely in denial if they believe high rates of infection and hospitalization will not happen on the depot under close proximity and enclosed spaces."



The Marine and others interviewed are worried that due to the Pentagon policy it's only a matter of time before the virus rips through lower enlisted ranks, itself a huge potential  risk to national security and defense readiness.


Marine Corps Recruit Depot in San Diego, via Orange Country Register.

"How will we ... explain to the families that put their trust in the Marine Corps if something does -- and it will -- happen to the recruit?" the Marine asked. "Why do we always wait until it's too late before we take action?"



And another said: "We are putting lives in danger en route to [boot camp], and we are taking even a bigger risk by mixing the new recruits with the recruits and permanent personnel on the depot."



On Monday the Pentagon also announced it currently has 1,087 confirmed coronavirus cases DoD-wide, which includes civilian contractors, up from 600 on Friday.




Tyler Durden

Tue, 03/31/2020 - 06:45
219
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The ‘My Pillow’ Guy Just Triggered A Herd Of Leftists And It’s Hilarious

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CEO shifts production to make vital masks, but no matter because he likes Trump... and God!
247
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US Reports 500+ Casualties In 'Deadliest Day Yet', Confirms Largest Jump In New COVID-19 Cases: Live Updates

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US Reports 500+ Casualties In 'Deadliest Day Yet', Confirms Largest Jump In New COVID-19 Cases: Live Updates



 



Summary:



 



 




  • US reports more than 500 deaths for first time



  • US confirms largest one-day case jump



  • Russia reports jump in cases, deaths



  • Maryland, Virginia and DC all locked down



  • Thailand warns it will prosecute all "April Fools Day" coronavirus jokers



  • China plans to annou
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nce "asymptomatic" carriers of the novel coronavirus


  • Dr. Fauci warns he fears virus will return this fall



  • Ford, GE warn 100-day window for producing 50k ventilators doesn't start until April 20



  • Orban takes unilateral power in Hungary



  •  


     



     


    198
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    Hosptital Exec Fired After Discussing Ways Of Ensuring Trump Supporters Get Coronavirus

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    “Trump supporters need to pledge to give up their ventilators for someone else … and not go to the hospital.”
    255
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    Mark Bunker, now as city councilman, confronts issues with Scientology on day one

    logicfish Crime Mark BunkerScientology and Politics All https://tonyortega.org   Discuss    Share

     Mark Bunker was relieved yesterday to finally get the results back on his COVID-19 test — it was negative — because he had a big day of “orientation” as a new city councilman in Clearwater, Florida. He tells that he was pretty excited to be let into his new office, and to receive a city [...]

    235
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    Sweden's Approach To Coronavirus: Do Nothing

    zerohedge News swedens approach coronavirus nothing All https://www.zerohedge.com   Discuss    Share
    Sweden's Approach To Coronavirus: Do Nothing

    Sweden has taken a slightly different approach to coronavirus than the rest of the world, allowing life to go on as 'normal' with a few exceptions.



    Unlike neighboring Denmark - which has restricted meetings to 10 people or less, Swedes are still going out to nightclubs, hanging out with friends, and even 'enjoying ice creams beneath a giant Thor statue in Mariatorget square,' accordin

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    g to the BBC.





    "We who are adults need to be exactly that: adults. Not spread panic or rumors," said Prime Minister Stefan Löfven in a televised address to the country last weekend.



    "No one is alone in this crisis, but each person has a heavy responsibility."



    And while the country has limited gatherings to 50 people as of Sunday, the government is largely leaving decisions over self-isolation and social distancing up to the citizens. BBC notes that almost half of Stockholm residents are working remotely, and that traffic is quieter than usual. Stockholm's public transport company SL reports 50% fewer riders on subway and commuter trains last week.




    Stockholm Business Region, a state-funded company that supports the city's global business community, estimates that rises to at least 90% in the capital's largest firms, thanks to a tech-savvy workforce and a business culture that has long promoted flexible and remote working practices.



    "Every company that has the possibility to do this, they are doing it, and it works," says its CEO Staffan Ingvarsson.



    His words cut to the heart of the government's strategy here: self-responsibility. Public health authorities and politicians are still hoping to slow down the spread of the virus without the need for draconian measures. -BBC






    According to the report, there are 'guidelines' but not strict rules. People are advised to stay home if they're sick or elderly, wash hands, and avoid non-essential travel whenever possible.



    So far the country has had roughly 3,500 cases and 105 deaths.




    Demography may also be a relevant factor in the country's approach. In contrast to the multi-generational homes in Mediterranean countries, more than half of Swedish households are made up of one person, which cuts the risk of the virus spreading within families. -BBC




    The BBC also notes that swedes love the outdoors - and officials have said that forcing people to stay inside would be physically and mentally unhealthy.



    "We have to combine looking at minimising the health effects of the virus outbreak and the economic impacts of this health crisis," said Stockholm Chamber of Commerce CEO Andreas Hatzigeorgiou.



    "The business community here really thinks that the Swedish government and the Swedish approach is more sensible than in many other countries."




    Tyler Durden

    Tue, 03/31/2020 - 04:15
    217
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    Maddow Claimed It Was “Nonsense” A Naval Hospital Ship Would Dock in New York by Next Week; It’s Arrived

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    MSNBC host faces humiliation.
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    UK Drug Dealer: People Are "Panic-Buying" Cocaine And Weed To Cope With COVID-19 Lockdown

    zerohedge News drug dealer people panic-buying cocaine weed cope with covid-19 lockdown All https://www.zerohedge.com   Discuss    Share
    UK Drug Dealer: People Are "Panic-Buying" Cocaine And Weed To Cope With COVID-19 Lockdown

    Authored by Paul Joseph Watson via Summit News,



    A top drug dealer in the UK has revealed that people are “panic buying” cocaine and marijuana to help them get through the coronavirus lockdown.





    The drug dealer, who has 20 dealers out on the street and 200 regular customers, told the Guardian,

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    >“People are panicking – the amounts of cannabis they’re buying is ridiculous – so we are just dealing to regulars now.”



    He says that the price of cocaine is set to surge because there are no new shipments coming in from abroad for at least 6 weeks.




    I’m maintaining the same prices I’ve always charged but I’m concerned that, when stock begins to run low, people higher up the chain will charge more or cut the cocaine and decrease its quality,” said the dealer.




    He added that people running out of money due to becoming unemployed as a result of the quarantine remains a primary concern, “but we’ll always have the regular cokeheads who buy most days.”



    Dealers are also offering to take bank transfers from regular customers and post drugs through the letterbox to cut down on potentially spreading the coronavirus infection.



    *  *  *



    My voice is being silenced by free speech-hating Silicon Valley behemoths who want me disappeared forever. It is CRUCIAL that you support me. Please sign up for the free newsletter here. Donate to me on SubscribeStar here. Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.




    Tyler Durden

    Tue, 03/31/2020 - 05:00
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    ‘Biosecurity Risk’: FBI Report Describes Chinese Scientists Who Smuggled SARS, MERS, H1N1 Viruses In Luggage

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    One incident occurred as recently as September 2019.
    176
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    Zoom Removed Facebook SDK From iOS App To Stop Data Sharing

    logicfish Security Cyber Security NewsHacking NewsNewsVulnerabilitiesad targetingfacebookFacebook ad targetingFacebook dataFacebook data sharingFacebook data sharing agreementsFacebook SDKLogin with FacebookSDKZoomZoom appZoom conferencing appZoom Desktop Conferencing appZoom iOS appZoom removed Facebook SDKzoom shared data with Facebook All https://latesthackingnews.com   Discuss    Share

    Zoom recently announced a change in their iOS app to ensure the privacy of the users. As announced Zoom removed



    Zoom Removed Facebook SDK From iOS App To Stop Data Sharing on Latest Hacking News.

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    SAP's locked-down offshore project managers develop remote work plans for clients

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    We've asked top tech companies if India's lockdown changes the service you receive. Most say no

    India is the dominant source of offshored IT workers, and home to big facilities for plenty of global IT companies. India is also in lockdown and workers there cannot leave their homes except under limited cirumstances.…

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    How "Progressive" Ideology Led To COVID-19 Catastrophe In Spain

    zerohedge News progressive ideology covid-19 catastrophe spain All https://www.zerohedge.com   Discuss    Share
    How "Progressive" Ideology Led To COVID-19 Catastrophe In Spain

    Authored by Soeren Kern via The Gatestone Institute,



    The Spanish government, comprised of a coalition of Socialists and Communists, is facing legal action for alleged negligence in its handling of the coronavirus pandemic. The government is accused of putting its narrow ideological interests ahead of the safety and wellbeing of the public, and, in so doing,

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    unnecessarily worsening the humanitarian crisis now gripping Spain, currently the second-worst afflicted country in Europe after Italy.





    A class action lawsuit filed on March 19 accuses the Spanish government — highly ideological by any standard, as the Communist coalition partner, Podemos, was founded with seed money from the Venezuelan government — of knowingly endangering public safety by encouraging the public to participate in more than 75 feminist marches, held across Spain on March 8, to mark International Women's Day.



    The nationwide rallies were aimed at protesting the government's perennial bugbear: the alleged patriarchy of Western civilization.



    Hundreds of thousands of people participated in those marches, and several high-profile attendees — including Spain's deputy prime minister, as well as the prime minister's wife and mother, and also the wife of the leader of Podemos — have since tested positive for Coronavirus Disease 2019 (COVID-19). It is unknown how many people were infected by the coronavirus as a result of the rallies.



    The lawsuit, involving more than 5,000 plaintiffs, accuses Spanish Prime Minister Pedro Sánchez and his representatives in Spain's 17 autonomous regions of "prevarication" — a Spanish legal term that means lying and deceiving. The government was allegedly so determined to ensure that the feminist marches took place on March 8 that it deliberately downplayed warnings about the pandemic. These warnings include:




    • September 2019. The Global Preparedness Monitoring Board, an international panel of experts convened by the World Bank and the World Health Organization (WHO), warned of a "very real threat of a rapidly moving, highly lethal pandemic of a respiratory pathogen killing 50 to 80 million people and wiping out nearly 5% of the world's economy.




    • December 31. China alerted WHO to several cases of unusual pneumonia in Wuhan, a port city of 11 million people in the central Hubei province. The virus was unknown.




    • January 7. China identified the new coronavirus as the cause of a mystery disease in Wuhan.




    • January 21. WHO confirmed human-to-human transmission of the virus.




    • January 29. Spanish pharmaceutical cooperatives warned that pharmacies were running out of masks due to a surge in demand. Sales of masks surged by 3,000% in January compared to the year before.




    • January 30. WHO Director-General declared the coronavirus outbreak a public health emergency of international concern.




    • January 31. The first known case of COVID-19 in Spain was confirmed in La Gomera, Canary Islands, where a German tourist tested positive and was admitted to a local hospital.




    • February 12. Mobile World Congress, the world's largest mobile phone trade fair, which draws more than 100,000 participants from 200 countries, was cancelled due to fears of coronavirus. The financial loss to Barcelona and the city's hospitality industry was estimated to be €500 million ($560 million).




    • February 24. More than 1,000 guests and employees at the Costa Adeje Palace hotel in Tenerife, Canary Islands, were quarantined after an Italian citizen tested positive for COVID-19.




    • February 27. A 62-year-old man from Seville tested positive for COVID-19. His was the first case of local transmission of the virus in Spain. The man said that he believed he was infected during a banking conference in Malaga, where he sat next to a partner who traveled to the Canary Islands on vacation and had had contact with people from Asia. Doctors said that the diagnosis was of "great importance" because it proved that COVID-19 has been circulating in Spain without detection.




    • March 2. The European Center for Disease Control and Prevention advised European countries to cancel mass gatherings of people to prevent the transmission of coronavirus.




    • March 2. The Spanish Medical Agency sent a letter to pharmaceutical distributors to restrict the marketing of masks and to block their distribution across Spanish pharmacies. The agency's objective, on the advice of the Ministry of Health, was to ensure the supply of masks to hospitals and health centers at a time when the number of confirmed cases was beginning to multiply. The measure blocked sales to Spanish pharmacies, as well as sales abroad.




    • March 3. The regional health ministry in Valencia announced that the first coronavirus fatality in Spain died on February 13. Health authorities did not know he had the virus until 19 days after his death — an indication that Spanish authorities have been slow to understand the outbreak. Since coronavirus cases that end in death last between two and eight weeks, in addition to a 14-day incubation period, it is possible that the man was infected as early as the beginning of January.




    • March 3. Spanish authorities ordered major football and basketball matches to be held behind closed doors with no spectators allowed to prevent the spread of coronavirus.




    • March 6. The Spanish Ministry of Health advised: "The precautionary principle must prevail. The emergence of a hitherto unknown virus means that precautionary measures must be taken based on the existing scientific knowledge regarding viruses."



    On March 7, despite these warnings, the Spanish government's main point man for the coronavirus, Fernando Simón, claimed in a nationwide press conference that there was no risk of attending the rallies on March 8.




    "If my son asks me if he can go, I will tell him to do whatever he wants," he said.




    The intrepid, Spain-based journalist Matthew Bennett discovered that the Spanish government failed to report new coronavirus cases between March 6 and March 9, apparently in an effort to downplay the danger to the public of attending the rallies.



    On March 9, after the number of confirmed coronavirus cases in Madrid doubled in one day, the President of the Autonomous Community of Madrid, Isabel Díaz Ayuso, ordered all schools in the capital to be closed for at least two weeks. The decision by the regional government caught the central government by surprise and effectively forced it to act.




    • March 10. Spanish Health Minister Salvador Illa, a Catalan philosophy major with no experience in medicine, said: "Today's situation may be different from yesterday's, it is changing, and this will continue to be so until we overcome this situation."




    • March 11. The Spanish government acknowledged that it knew on March 8, before the feminist rallies took place, that the coronavirus outbreak in Madrid was out of control.




    • March 12. Prime Minister Sánchez, defending himself against criticism that he allowed the marches to go ahead, said that his government was responding to the "dynamic" situation of the coronavirus by "adapting" to the "hourly" recommendations of scientific experts.




    • March 14. The central government announced a nationwide state of emergency that effectively placed 46 million people in lockdown for at least 15 days. All non-essential travel has been prohibited and people are confined to their homes except in cases of emergency or to purchase food or medicine. All schools and universities in the country are closed.




    • March 29. The lockdown, the strictest in all of Europe, was extended until April 11.



    The lawsuit has been forwarded to the Spanish Supreme Court due to the prime minister's immunity.



    Article 404 of the Penal Code establishes a penalty of between nine to 15 years of disqualification for public office for public officials convicted of the crime of prevarication.



    Víctor Valladares, a Madrid-based lawyer who is leading the lawsuit, said:




    "The result of the calls for these demonstrations and their direct approval by government delegations and by the inaction of the central government chaired by the accused, Prime Minister Pedro Sánchez, could not be more antagonistic to what the EU indicated in its report. Why was not an order issued to prevent any type of mass event?"




    Meanwhile, the Association of Doctors and Medics of Madrid (AMYTS) and the Confederation of Medical Trade Unions (CESM) also filed lawsuits against the government. The complaint demands that the federal and local governments provide hospitals in Madrid with masks, protective glasses and waste containers within 24 hours.



    The Spanish blogger Elentir, who operates the blog Contando Estrelas, a politically astute website that is essential to understanding contemporary Spanish politics, wrote:




    "As we found out, 16 days late, the first death from coronavirus had occurred in Spain on February 13. Faced with the risk that the massive feminist mobilizations on Sunday, March 8 could be cancelled, Fernando Simón commented: 'We have no specific recommendation on the suspension of the rally on March 8.'



    "On March 9, one day after the feminist marches, Health Minister Salvador Illa expressly recommend that all people with chronic diseases or multiple pathologies do not leave their homes except for emergencies.... He said this immediately after the feminist rallies held on March 8.



    "Honestly, it seems to me a joke that the government has waited until today, clearly for political reasons, to make this announcement. The Socialist-Communist government has once again put its political interests above the common good. This gross negligence should lead to resignations."




    Criticism of the Spanish government's handling of the coronavirus crisis has also come from members of the Socialist Party itself. On March 22, Juan Luis Cebrián, a co-founder of the newspaper El País, a notorious mouthpiece of the Socialist Party, wrote:




    "The crocodile tears of so many political leaders who claim that no one could have imagined such a thing such as the coronavirus do not make any sense. There were not only those who imagined it: they foresaw it, and they seriously warned about it. There has undoubtedly been negligence on the part of the various health ministers and their bosses, and in France three doctors have already filed a complaint against the government for this reason. The consequence is that most Western nations today are overwhelmed in their abilities to fight the epidemic. They reacted late and erroneously. Lacking is: hospital beds, medical personnel, respirators and transparency in official information.



    "On February 24, WHO officially declared the probability that we would be faced with a pandemic. Despite this and knowing the magnitude of the threat, which has already been fully realized in several countries, hardly any measures were taken in most of the potential scenarios for the spread of the virus. In the case of Spain, attendance at gigantic demonstrations was encouraged, the holding of massive popular festivals was promoted, urgent funding for research was delayed, the threat was minimized, and even the official still in charge today of the scientific recommendations dared to say between smiles that there was no risk to the population.



    "This is not the time to open a debate on the subject, but it is legitimate to assume that in addition to political responsibilities, citizens... will have the right to demand legal redress if there is guilty negligence."




    Spain is one of the European countries most effected by the virus: As of March 29, more than 80,000 people had been diagnosed with Coronavirus Disease 2019 (COVID-19) and more than 6,500 had died as a result. The actual number of people infected may be ten times higher due to the lack of testing of asymptomatic cases. As the pandemic runs its course, Spain is on track soon to overtake Italy as Europe's hardest-hit country.




    Tyler Durden

    Tue, 03/31/2020 - 02:00
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    ‘Incinerators Have Been Working Around the Clock’: Wuhan Residents Say Official Coronavirus Death Toll Fake

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    Communist Party reportedly paying off bereaved families to keep silent about true death count.
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    Maersk Crew Hospitalized In First Ever COVID-19 Cases On Board A Container Ship

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    Maersk Crew Hospitalized In First Ever COVID-19 Cases On Board A Container Ship

    Despite one of the the world's largest shipping lines, Maersk, recently suspending all crew changes aboard its container vessels for up to one month in order to shield crew and operations from the coronavirus and keep them “as normal as possible,” this weekend witnessed the first ever confirmed cases aboard a container ship.



    In the past days reports

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    have emerged that an entire crew from the Danish-flagged ship Gjertrud Maers have been tested, with some evacuated and hospitalized in Ningbo, China. A Maersk company spokesman later said in a press statement that “a number of our seafarers” on the ship were suspected for the virus.



    “As per our established protocols, the seafarers were isolated on the vessel when symptoms appeared and we are providing medical treatment based on input from our medical advisers,” the Maersk statement said.


    File image: Getty/Market Watch

    “The vessel was awaiting phasing into our network and currently idle at the quayside in Ningbo, China,” it added. “Extra precaution measures will be taken for crew replacement and sanitations will be implemented.”



    Subsequent reports on Monday via state-run China News Service (CNS) indicate at least five of the crew members have tested positive for Covid-19, after a total of 22 foreign crew members were put in isolation aboard the ship while awaiting testing.



    Initially seven crew members were reported as having "abnormal physical condition" over a week ago. Maersk did not immediately confirm the crew tested positive, however.



    CEO of Maersk Ocean and Logistics, Vincent Clerc, late last week updated global customers and partners as to how the pandemic will impact shipping volume. He confirmed in a statement that necessary drastic actions taken by governments and companies to contain the spread of the virus will result in an economic slowdown. He added that recent interaction and conversations with customers “confirm our expectation of lower volume demand in the coming weeks.”




    Clerc said further, “We are actively preparing our network to match a reduced demand level. We believe that it is our responsibility to rightsize in order to protect our cost position, both to be able to weather these storms but importantly also to ensure that you have a partner who cares for the integrity of your supply chain as we look to lifting the world out of this crisis.”



    Last month the company said it was bracing itself for coronavirus to impact its 2020 earnings hard: 




    Maersk said it expects earnings of around $5.5 billion this year, which is about 5% below what analysts had been predicting.



    ...Maersk, the world's largest container shipping company, has warned of a "very weak" start to the year as the coronavirus keeps factories shuttered in China and dents demand for the transport of goods.



    The Danish ship operator said Thursday [Feb.20] that it has canceled more than 50 trips to and from Asia since the Lunar New Year holiday was extended because of the outbreak. Shipping rates are expected to decrease as demand slips, the company said in an earnings report.



    The company's forecast for shipping volume growth of less than 1% is "pretty downbeat," giving it some breathing space if the impact of the coronavirus is worse than expected, said Michael Field, an analyst at Morningstar...



    "We estimate factories in China are operating at 50% to 60% of capacity," CEO Søren Skou said on an earnings call.




    Already countries in the West, often over-reliant on manufacturing in East Asia, are feeling the crunch of limited supplies of shipped goods as port activity dries up on significantly lower volumes. This is especially the case when it comes to vital medical supplies, including items as simple as protective medical gear like gowns, masks, and gloves.




    Tyler Durden

    Tue, 03/31/2020 - 02:45
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    Watch: Trump, Coronavirus Task Force Hold Press Briefing

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    Watch & share this link!
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    "Coincidence?" - Japanese Questioning Sudden Surge In Tokyo Infections Following Olympics Delay Decision

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    "Coincidence?" - Japanese Questioning Sudden Surge In Tokyo Infections Following Olympics Delay Decision

    As we've previously noted, every four decades, something jinxes the Olympics. Japanese officials spent the last several months downplaying the virus outbreak, but as soon as the Games were delayed on March 23, virus cases in Tokyo spiked, with possible lockdowns looming, reported AP News. 



    Former government officials have raised their eyebrow

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    s of just how COVID-19 cases were low before the postponement, to now on an exponential curve, as some have suggested there was a coverup by the government to artificially suppress cases to make it appear that the Games would go on. 




    "In order to make the impression that the city was taking control of the coronavirus, Tokyo avoided making strict requests and made the number of patients look smaller," former Japanese Prime Minister Yukio Hatoyama said in a tweet.



    "The coronavirus has spread while they waited. (For Tokyo Gov. Yuriko Koike) it was Olympics first, not Tokyo's residents."




    Several weeks ago, Prime Minister Shinzo Abe said the Japanese government "would overcome the spread of the infection and host the Olympics without a problem." Abe's attitude towards the outbreak dramatically changed over the weekend when he said: 




    "Once infections overshoot, our strategy ... will instantly fall apart," Abe warned on Saturday. "Under the current situation, we are just barely holding up. A state of emergency is not needed just yet, but that Japan could at any time face a situation as bad as in the United States or Europe."




    Abe had a phone call with International Olympic Committee (IOC), President Thomas Bach, last Tuesday, AP notes. That was the moment when the Games were decided to be postponed until 2021. 



    Then on Wednesday, one day after the postponement, Tokyo Gov. Yuriko Koike advised residents to stay home and practice social distancing until mid-April, signaling that possible lockdowns could be ahead to flatten the pandemic curve. 



    Confirmed cases in the country have surged since the postponement of the Games -- with an exponential rise expected through April. 


    Japan COVID-19 Confirmed cases

    "Is this just a coincidence?" Maiko Tajima, an opposition lawmaker from the Constitutional Democratic Party of Japan, said during a parliamentary session last Wednesday, citing Tokyo's sudden spike in cases. 



    Health Minister Katsunobu Kato said there is no correlation between the surge in cases and the Olympic postponement. 



    Abe has since dismissed that Japan artificially suppressed cases by limiting tests and defined COVID-19 deaths as other pneumonia fatalities to boost the prospects that the Games must go on: 




    "I'm aware that some people suspect Japan is hiding the numbers, but I believe that's not true," he said. "If there is a coverup, it will show up in the number of deaths."




    Abe also said the government had secured enough hospital beds and ventilators to prepare for a worst-case. 



    "We fear a situation where severe patients start dying when the medical system collapses, and we must prevent that situation," Kato told NHK on Sunday.



    And why would Abe's government allegedly coverup the virus outbreak to make it appear that containment was almost certain? Well, as we explained on March 11, Japan and some mega-corporations would lose billions of dollars if the Games were delayed or canceled. So, another example of profits over human health? 




    Tyler Durden

    Mon, 03/30/2020 - 23:45
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    Italian Official Warns of Imminent “Violence” as Looting Begins, Desperation Grows

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    Social order cracking amid coronavirus crisis, draconian lockdown
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    China Shuts Down All Cinemas, As Scientists Fear Second Coronavirus Wave 

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    China Shuts Down All Cinemas, As Scientists Fear Second Coronavirus Wave 

    China spent most of March attempting to normalize its economy after several months of virus-related shutdowns. There were reports of retail stores opening, people going outside, virus cases declining, factories restarting, and even movie theaters reopening. 



    The Hollywood Reporter noted that the government gave nearly 600 movie theaters across China the green light for pha

    Read More
    sed reopening in the third week of March. Then by March 27, Beijing's Film Bureau requested that all theaters go into lockdown. 





    "This second closure will not be a one or two-week issue," an executive at a major exhibition company told The Hollywood Reporter. "They are going to be even more cautious when they attempt to reopen again—and this will set us back a long time."



    The Chinese government did not explicitly cite the reason for the latest theater closings. Still, scientists are now warning that a second coronavirus wave could be arriving by the end of April: 




    "It's time to relax the lockdown, but we need to be alert for a potential second wave of infections," says Ben Cowling, an epidemiologist at the University of Hong Kong.




    Cowling warned that a second wave of the fast-spreading virus could hit China by the end of April. 



    China's large network of 70,000 movie screens were all shuttered in January because of the COVID-19 outbreak that started in December and has since infected 741,000 people globally and killed 35,114. 





    Many Chinese theaters were closed on the weekend of the Chinese New Year, which is the most significant moviegoing time of the year. Box office sales in the country for the first two months were down $2 billion over the same period last year. 



    How China deals with the second round of the virus outbreak remains to be seen. If China delays normalcy and extends the quarantines of its citizens, it could damage movie theater chains, Hollywood studios, and the entire global film industry. This also comes as Europe and the US have shut down movie theaters, further amplifying the stress for the industry. 



    Major movie productions across the world have put filming on hold through spring. Warner Bros. delayed Wonder Woman 1984 from its June debut to mid-August, which suggests US theaters will be dormant through the summer months. 




    Tyler Durden

    Tue, 03/31/2020 - 01:00
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    Watch: Hundreds of Travelers Storm Out of Airport Quarantine

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    Repatriated Ukrainians defy quarantine orders at Kiev airport
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    COVID-19 Derangement Syndrome: A World Gone Mad

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    COVID-19 Derangement Syndrome: A World Gone Mad

    Authored by Percy Carlton for the Saker Blog,



    The whole world has gone mad with what I call Covid-19 Derangement Syndrome (CDS).





    I define it as an acute onset of paranoia in otherwise normal people in response to the Covid-19 Corona Virus pandemic. The infection is particularly prevalent among the media and the governme

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    nt officials of the world.



    Human beings fear what they do not understand and that fear causes them to behave in irrational and destructive ways. The current Covid-19 pandemic is a perfect example of that. I don’t need to describe the paranoia and economic destruction to you because you can see it with your own two eyes everywhere you look. Both the media and the world’s governments are fueling the panic – the media with their hysterical 24/7 coverage and the governments with their draconian police state actions.



    I feel like the man in the following cartoon.





    I am doomed to helplessly stand by and watch the entire world commit economic suicide for no good reason. At first glance this may seem like a shocking and callous statement but do not mistake this as support for the view that the government should stand back and let the private sector take care of the problem. I have no problem with a strong authoritarian central government response as long as it is reasonable and wise. The current government response is neither.



    Do Nothing VS Shut Everything Down

    The current debate about what governments should do seems to be limited to two options: Do nothing and let the virus run its course or use authoritarian methods to quarantine and restrict the movement of citizens within and across state and national borders. The former will result in many people unnecessarily dying and the latter will save lives but is already resulting in a catastrophic worldwide economic collapse with repercussions that will last for years. It is very narrow thinking to think that those are the only two options that exist. There is always another way. Wouldn’t it be great if we could find a solution to the COVID-19 virus problem that would save lives and not result in a worldwide economic Armageddon? Such a solution exists and I will lay it out for you in this article.



    First let’s define the problem: A highly contagious virus is spreading around the globe and killing people. Governments should be responsible for protecting their citizens so they must take action. But what actions should they take? That is an important question that must be carefully answered, but only after much research and consideration of all options. If we act rashly and arrive at the wrong answer people will die and/or lives will be destroyed by a global economic depression.



    Let’s set aside the fear and hysteria and calmly use the Scientific Method to solve our problem. But I must first make a digression about science.



    Three Kinds of Science

    Did you know there are three kinds of science? Most folks can’t tell the difference between them and are therefore easily misled. The first two are pseudoscience; the third is real science. There is a significant amount of overlap between the first two although they do have enough of the third mixed in to give them the appearance of credibility.




    1) Agenda based science – This type is practiced by people with an agenda. They are blinded by their presuppositions and it results in them twisting, distorting, and sometimes outright lying about their studies, experiments, and data. The people that practice this kind of science are not necessarily evil. They just sincerely but blindly believe something that “just ain’t so.” They think they are helping the world but are instead causing it much harm.



    2) Bought and paid for corporate science – This type is practiced by scientific mercenaries who shamelessly produce studies that support the goals of whoever is paying them. Many of these folks are downright evil in my opinion. Much of what passes as “science” these days is of this type.



    3) Real science – This type of scientist seeks the truth regardless of what it is. If the scientist has a presupposition they will quickly abandon it if their research does not support it. They will tirelessly search for, support and proclaim the truth even if it results in them being ostracized by the scientific community or persecuted by the government.




    The Scientific Method



    Step One – Purpose – State the Problem

    We have already defined our current problem as a virus that is killing people all over the world, but we have not stated our purpose and objectives. Our main purpose and objectives should be to minimize loss of life and damage to the world economy. These objectives are both very important and are not mutually exclusive regardless of what our governments seem to think.



    Step Two – Research – Find Out About the Topic

    I’m not going to spend much time discussing something you can easily research on the internet. There are plenty of articles in scientific journals and on science websites. Here is one example: How does the new coronavirus compare with the flu? I suggest you conduct your own independent research instead of getting your information from the hysterical media or an armchair doctor.



    Although there are some important differences between the seasonal flu and Covid-19, there are enough similarities that I believe we can find a solution to the problem by applying general medical principles relating to viruses. The entire world did not shut down for the many local and worldwide viral outbreaks we have had in the past 20 years such as SARS, Ebola, Zika, MERS, H5N1 (bird) and H1N1 (swine). There was no need to shut it down for this one.



    We all know about the infection and death rates that vary widely around the world but you may not know why. Italy is pointed to by the alarmists as justification for the police state shutdown of entire states and countries so let’s take a closer look at it.



    The single largest factor that determines the mortality rate is the health of the person at the time they contract the virus. The symptoms are mild for the vast majority of healthy people that become infected. It is well established that the people with the greatest risk of death are those with a weakened or compromised immune system. The death rate increases exponentially with age precisely because of the decrease in immune function that accompanies the aging process. According to an Italian Government Study 99% of their Covid-19 fatalities were already sick and half were diagnosed with 3 or more diseases.



    Here are some excerpts from a Bloomberg article on the study:




    The median age of the infected is 63 but most of those who die are older. The average age of those who’ve died from the virus in Italy is 79.5. As of March 17, 17 people under 50 had died from the disease. All of Italy’s victims under 40 have been males with serious existing medical conditions.



    “While data released Tuesday point to a slowdown in the increase of cases, with a 12.6% rise, a separate study shows Italy could be underestimating the real number of cases by testing only patients presenting symptoms.”



    “According to the GIMBE Foundation, about 100,000 Italians have contracted the virus, daily Il Sole 24 Ore reported. That would bring back the country’s death rate closer to the global average of about 2%.”




    A huge factor that affects transmission rates is cultural customs. Getting the locals to alter their cultural customs at funerals is one of the four practices that flattened the Ebola epidemic curve in West Africa in 2013-2016. Italy has an aging population that has a cultural tradition of cheek kissing. Is it a great mystery why their death rate is so high?



    It is probable that the 2-3% global average of the death rate is wildly over inflated due a high false negative rate for the current tests. And what about the many thousands or maybe even millions of people who may have contracted the virus and were not tested because the symptoms were so mild? Several weeks ago a strange virus ran through my family and a number of my co-workers. We felt horrible for a few days but recovered quickly. My daughter got the worst symptoms but tested negative for the flu. How do we know that it was not Covid-19 or another corona virus? Some of the alarmists such as Imperial College London’s Neil Ferguson are now beginning to back off of their doom and gloom predictions. The phrase “Lies, damned lies and statistics” applies here. The infection rate and death percentage numbers are unreliable. The only statistic that is close to accurate is the number of deaths. Let’s focus our efforts on reducing that number.



    Sun Tzu, Firefighters, Preppers, and Floridians



    Let’s continue to gather information by getting some advice from Sun Tzu, firefighters, preppers, and Floridians. After that I will tie it all together for you so that it will make sense.



    Sun Tzu



    Sun Tzu famously said in The Art of War “If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”



    The world’s governments are fighting a battle against an “enemy” (the Covid-19 virus) they do not understand. Neither do they understand “themselves,” which in this case I will consider to be the human body. This is a battle they will not win. They rushed into it blindly with little knowledge and preparation and the results so far are not pretty. The current battle should be over in a few months but the enemy will likely be back next year and/or the year after that. Will we know our enemy and know ourselves better before the next battle? I sincerely hope so.



    But is treating the Covid-19 virus like an enemy that needs to be destroyed at all costs the right approach?



    War on Covid-19



    The USA has been at war in one form or another since its inception. There have been countless shooting wars but there has also been The War On Drugs, The War On Cancer, The War On Poverty, The War On Terrorism, The War On Global Warming, etc. Have any of these wars resulted in the eradication of the object on which the war was declared? No. All of these “wars” are foolish and misguided attempts at eradicating something that you cannot eradicate. They will always be with us. We have wasted untold trillions of dollars on these wars and have very little to show for it. The results of the current “War On Covid-19” will not be much different. We need to take a different approach and stop blindly declaring war on something we do not understand.



    Trump and other politicians are using the language of war when speaking about their country’s efforts to “fight” Covid-19. That should make us very wary. When the USA declares war on anything we can expect several things to happen:




    • We will go deeper in debt




    • Vast amount of money will be wasted and given away to corrupt corporations




    • The US Constitution will be further trampled and more rights and freedoms will be taken away




    • The people will suffer




    • We will lose the war



    Firefighters



    I am a firefighter/paramedic for a large city in the State of Florida in the USA. Every time something bad happens firefighters are called to mitigate the situation. Heart attacks, Covid-19 patients, car wrecks, and hazardous material leaks/spills are among the situations we respond to, but for this example we will use fire. Firefighters do not treat fire as the enemy. We do not declare war on it and try to stamp out every single flame in our jurisdiction. We understand it to be a naturally occurring phenomenon that can be very destructive and deadly if it is allowed to grow out of control. We do not fear fire because we know it well and we know ourselves well. We do have a healthy respect for it because we frequently see the death and destruction it can cause. When the alarm sounds we calmly but aggressively go about mitigating the fire before it grows out of control and destroys both lives and property. We are well trained and well prepared with the best equipment and Personal Protective Equipment (PPE) money can buy. We have several different methods we can use to put out a fire but the simplest and most effective extinguishing agent is plain old cheap and abundant water. If a sufficient amount of water is applied to the fire in its earliest stages, it will be extinguished with minimal damage to the structure. But if we are called too late and the fire grows out of control before we arrive, the building may be completely destroyed.



    Firefighters also educate the public on fire safety. We teach them how to prevent fires and what to do if they occur. I will return to this analogy later but for now the general lesson from firefighters is that the key to mitigating a potentially life and property destroying fire is knowledge, training and equipment. This allows us to apply the right extinguishing agent early enough and in sufficient quantities to put out the fire before the building burns down.



    Preppers



    I am an amateur prepper, not the “doomsday” type. Maybe it’s because I took the Boy Scout motto “Be Prepared” seriously or maybe it’s because I love the Biblical story of Joseph saving “the world” from starvation due to famine. In any case, this practice of being prepared has served my family well. When the mob of unprepared citizens began cleaning out the stores recently there was not much I had to run out and buy. (Although I was regrettably almost out of toilet paper.) I already had a freezer full of meat and even a box of N95 masks. Preppers spend time thinking about different scenarios that could happen and then prepare for them. Some do it out of fear but most do it because we know these things will happen to some degree at some point and we want to lessen the impact of these events on our family. We do not want to be dependent on the government to save us. We want to be in the position to help other people and not be a burden on them.



    Floridians



    Floridians are accustomed to preparing for hurricanes. It is an annual occurrence. We don’t panic because we know the enemy well and it is usually not as bad as it could be. We have an advantage over the folks who live in the Tornado Belt because we have plenty of advance notice that the storm is coming. Preparing for the Covid-19 virus to hit looked and felt like it does when we are preparing for a hurricane. We know it is coming but we do not know exactly when and where it will strike or how bad it will be. We all go out at the same time right before the storm and buy the supplies we need to weather the storm and get us through the aftermath. It always results in the store shelves being cleaned out of certain items. Our advice to you is to emulate our calm manner of preparation but do not emulate our practice of waiting until the last moment to obtain the supplies we need. The best approach is to stock up before storm season arrives.



    Step 3 – Hypothesis – Predict the Outcome to the Problem

    The doomsday outcomes predicted by the hysterical media and our clueless government officials are fatally flawed due to linear thinking. This is particularly prevalent in the West because the Western mind thinks in a linear manner – they act as if the trend in motion will continue on in the same direction indefinitely. The trend always changes. It is the Creator’s way. Cycles are the very foundation on which the universe was built. It is how energy moves. All viral outbreaks peak and then subside. This one will not be any different. Because the primary transmission route appears to be aerosolized droplets suspended in the air due to talking, coughing, and sneezing, the infection rate will drop dramatically as the air becomes warmer and moister. Airborne viruses love cool and dry air. Towards the end of the article I will be offering my predictions and proposed solutions.



    Steps 4, 5, and 6

    The world is in the midst of a huge quarantine experiment right now that we have rushed into without adequately stating our purpose and researching our options. In the aftermath we will be analyzing the results and coming to conclusions. Like the aftermath to any other crisis such as 911, most of the official government analysis will be propagandized and used to further their political agendas. We will be deluged with pseudoscience, lies, damned lies and statistics. Truth seekers must use real science to sift through the B.S. and find the truth just like we had to do with 911. Let us hope that the people of the world do not fall for the propaganda and “give up essential liberty to purchase a little safety.” One of my favorite quotes is by Mark Twain: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” The government officials of the world know a lot that “just ain’t so.” Unfortunately that “knowledge” is what they base their decisions on.



    The World in Turmoil

    The world is in fear driven turmoil right now because of the following reasons:




    • Ignorance: Our leaders are completely ignorant about how the human body works and are relying on guidance from a conventional medical system that is rife with agenda and corporate driven pseudoscience.




    • Poor or non-existent planning and training: This is self evident and seems to apply to most countries.




    • Narrow thinking: The response is the same all over the world – mass quarantines, isolation, and shutting down of commerce and travel. No country seems to be taking a different approach.




    • Incompletely defining the problem: No government seems to be giving any serious consideration to how they can minimize the economic damage that their solution to the problem is causing. Yes, many governments are throwing vast amounts of money at the problem by creating debt based money but does that ever really work?




    • Treating the Covid-19 pandemic like a war that needs to be waged instead of a recurring problem that needs to be properly mitigated with the right tools and approaches for the job: The USA’s war on Covid-19 will be about as successful as the USA’s War on Cancer has been.



    The Cure For Covid-19

    The cure for Covid-19 already exists so there is no need to look to the pharmaceutical industry to save us. It is your body’s own immune system. Instead of destroying the world economy in knee-jerk reactionary style maybe the world’s governments should be finding ways to improve the health of their citizens. We have already established that this virus kills the elderly and the immune compromised and has mild effects on the healthy. We should be focusing on the death rate, not the infection rate. Many people get sick with a virus a few times a year and the world economy doesn’t shut down.



    I could write an entire series of articles on ways you can improve your health and immune system to the point that the Covid-19 virus would be only a minor irritation to you but this is not the forum for that. But I will tell you about the closest thing we have to a “magic bullet” and how the Chinese are using it to mitigate the virus.



    After approving several studies of using intravenous vitamin C for the treatment of Covid-19, on March 1st the Chinese Journal of Infectious Diseases (which is hosted by the Shanghai Medical Association) pre-published the “Expert Consensus on Comprehensive Treatment of Coronavirus in Shanghai 2019.” Among its treatment recommendations was the following:




    “Prevention and treatment of cytokine storm: It is recommended to use large doses of vitamin C and unfractionated heparin. Large doses of vitamin C are injected intravenously at a dose of 100 to 200 mg / kg per day. The duration of continuous use is to significantly improve the oxygenation index.”




    China must be using it very extensively because in February they shipped 50 tons of it to Hubei Province, the capital city of which is Wuhan. No wonder turned things around so quickly at the epicenter of the outbreak.



    Vitamin C: The Magic Bullet for Inflammation

    Inflammation is the term we use to describe the body’s immune system response to injury or a foreign invader such as a virus or bad bacteria. It is at the root of all medical problems and diseases. When the immune system is overwhelmed, inflammation rages out of control. In the case of Covid-19 there is an overwhelming amount of inflammation in the lungs that leads to pneumonia, sepsis and death if the inflammatory fires are not quenched. This normally only happens in people with compromised immune systems. An optimally functioning immune system in a healthy person will easily mitigate the virus before it progresses to pneumonia. There are exceptions of course, but they are few.



    We now return to my firefighter analogy. We can easily extinguish a fire if we arrive on scene while it is still in its incipient stage. A small booster line or even a 2.5 gallon fire extinguisher is all that is needed. If our response is delayed the fire will grow exponentially to the point that is not safe to enter the building. We then apply very large streams of water from the outside and do not enter the building until after the majority of the flames have been extinguished. The sooner we apply the water the less of it that is required to do the job. If we do not apply large streams of water in the late stages of a fire the building will be lost.



    Vitamin C works the same way as water in our firefighter analogy. If enough oral vitamin C is taken at an early enough stage of an illness, the inflammation will be quenched and will never get to the exponential growth phase. The longer you wait to take it the more you will need to quench the inflammatory fire growing inside of you. The key to success is to take it at the first sign of symptoms. One you get to the exponential growth phase intravenous vitamin C is needed and it will be effective in a very large percentage of cases. If it is not applied, the result is death in a large percentage of cases.



    Doctors in China and even the USA are using intravenous vitamin C on Covid-19 patients with great success. Doctors and researchers all over the world have known for decades about the incredible power of intravenous vitamin C to quench the raging fires of inflammation.



    Sepsis is a condition that can be compared to the pneumonia that is killing the immune compromised elderly Covid-19 patients. They are both acute and massive inflammatory responses due to infection. An observational study published in The Lancet found that 100% of the early Covid-19 patients that died in Wuhan had sepsis. And not surprisingly most were older folks with health problems. Sepsis may be responsible for as many as 20% of deaths worldwide. It is one of the top killers of people that die in hospitals. One doctor in the USA has been using intravenous vitamin C in a treatment protocol that has reduced the death rate from sepsis by almost 5 fold – from 40% to 8.5%.



    Is It Really That Simple?

    Yes it is. “But Percy, then why aren’t governments around the world endorsing it and using it?” That is an almost irrelevant question. Does the scientific evidence and case studies prove it or not? I can give you a very conclusive answer for the USA. We have a corrupt and powerful pharmaceutical industry that exerts a massive amount of influence on our government. They use that power and influence to squash and suppress any medical treatment that cannot be patented and used to make obscene amounts of profit. Vitamin C cannot be patented so therefore it will not be widely used or studied. If it is not being used in your country then maybe your medical system has been corrupted or misled by the West. China is using it extensively, as well as a few renegade doctors in countries all over the world. If you look for them you will find them.



    Extraordinary Claims Require Extraordinary Evidence

    I do not subscribe to this view because I believe that claims that can be proved or disproved by science all require the same amount of evidence. What is extraordinary to one may be ordinary to another. A good example is 911. I do not consider it to be an extraordinary claim to say that two planes did not bring down three buildings on 9/11/2001, particularly Building 7. The laws of physics prove it beyond a reasonable doubt. But to the vast majority of the American public that is too fantastic of a claim to even warrant checking into. So if you summarily dismiss my claims without serious investigation it will be similar to someone refusing to watch the excellent documentary 911: Explosive Evidence- Experts Speak Out by Architects and Engineers For 911 Truth because it sounds too fantastic to be true. Here are some links to get you started if you would like to conduct your own research. I highly recommend that you do so.




    • Vitamin C Material: Where to Start, What to Watch




    • 905 Abstracts with vitamin C research




    • Published Research and Articles on Vitamin C as a Consideration for Pneumonia, Lung Infections, and the Novel Coronavirus (SARS-CoV-2/COVID-19)



    Things That Make You Go Hmmmmm

    I would be remiss if I did not touch upon the more bizarre aspects of this crisis. I will list a few. This is certainly not an exhaustive list and I have only linked to the things that are facts. No conspiracy theory links here.




    • The biolab in Wuhan




    • Event 201, a corona virus pandemic exercise held on Oct. 18, 2019




    • The World Bank Pandemic Bonds




    • Government officials in sunny Florida are closing parks, beaches and restricting other outdoor activities such as boating in spite of the fact that outdoors in the sunshine is the best place to be during a pandemic




    • Netflix releases ‘Pandemic’ docuseries as coronavirus spreads




    • Lots of conspiracy theories floating around such as insiders and elites selling stocks and bonds right before the crash, installing 5G cell towers at schools during the shutdown and allegations of bio warfare between the USA and China



    I am attempting to apply Occam’s Razor to this crisis but I must admit that the longer this inexplicable and destructive behavior by governments goes on the more difficult it is for me to do so. Are all these things (and more) just amazing coincidences? I will let the reader decide.



    Never Let A Good Crisis Go To Waste

    When a “crisis” comes along, whether false flag or real, Western leaders always use it as an excuse to pass liberty destroying legislation that would be otherwise politically untenable. In the USA, 911 gave us the Patriot Act, TSA, DHS, etc. I fully expect the Covid-19 pandemic to bring us similar legislation such as the Model State Emergency Health Powers Act. Power grabs are being suggested and attempted all over the world. Here are a few headlines:




    • Corbella: Trudeau’s attempted power grab an alarming breach of trust




    • Gordon Brown calls for global government to tackle coronavirus




    • DOJ seeks new emergency powers amid coronavirus pandemic




    • De Blasio urges ‘nationalization’ of key industries, calls coronavirus outbreak a ‘war-like situation’




    • Embattled Netanyahu Makes a Coronavirus Power Grab




    • EU warns of Hungary power grab as Orban seeks state of emergency extension



    I could fill up a page with headlines such as these. It is a very disturbing trend.



    Where We Go From Here

    I see myself as a realist, not an optimist or a pessimist. My study of history, economics, and politics tells me that the future looks grim. Much of the world is suffering under corrupt and ignorant leaders who cannot possibly successfully lead us out of this mess, particularly in the Western world. The world’s interconnected and dollar dominated financial system is a house of cards that has been waiting on the right flap of a butterfly’s wings to set off a series of events that will cause it to come tumbling down. We are past the point of no return. An economic recession or depression will be ushered in by the response to the Covid-19 virus, not the Covid-19 virus itself. The government response to a crisis always sets up the next crisis. Capital flight to the dollar has already begun en mass. By next year or the year after there will be loan defaults that will set off a worldwide contagion that will make 2008 look like a walk in the park. The Eurozone will implode first. The Covid-19 corona virus will mutate and be back next year and/or the year after that. Lord help us if our leaders shut the world down again next year. China will survive and be the beneficiary of the West’s self destruction. They will suffer, but not nearly as much as the West. The USA dominated Anglo-Zionist Empire will be largely over within 20 years, maybe much sooner. The new financial capital of the world will be China.



    Conclusion 1 – What Governments Should Do

    After we are on the downside of the infection bell curve governments should begin planning for the next round of this. Instead of being reactive they should be proactive. The primary focus should be to educate their citizens on how to be healthy. Healthy people have little to worry about from Covid-19 or most any other virus. Healthy people do not clog the healthcare system; unhealthy people do. They should also educate their citizens on ways they can support their immune systems and encourage them to do so quickly in the incipient stages of an illness. This will drastically reduce the strain of sick people on overburdened healthcare systems. That leaves only the worst cases to deal with. For these they should follow China’s lead and develop a treatment protocol that incorporates intravenous vitamin C to quench the inflammatory fire in the lungs that leads to death.



    The mass quarantines of entire cities, states, and countries must stop. It is not stopping the spread and it is destroying the world economy in the process. If they want to quarantine a population it should be the population with the greatest risk of death – the elderly.



    None of this will happen of course. When their approach doesn’t work, Western leaders usually double down on it hoping for a different result. Hopefully there will be some renegade local governments that will defy the unconstitutional decrees of their central government – like what many state governments are doing to the federal government in the USA regarding cannabis laws.



    Conclusion 2 – What You Can Do

    Since I am not under any illusions that this article will be read and considered by any person in power anywhere on the planet, the advice that follows is the reason I wrote this article. There is little chance that any of our overlords will be cured of the Covid-19 Derangement Syndrome that infects them. But, dear reader, if you are living in fear and hiding in your house or apartment and are afraid of contracting the Covid-19 virus there is hope for you. The antidote for fear is knowledge, training and preparation.



    I do not fear fire because I understand it and I am well trained and equipped to extinguish a fire at any stage of development. I always strive to extinguish the fire in its incipient stage before it grows out of control.



    I do not fear any virus because I understand them and I understand how my body uses its immune system to defend me from them. If I begin to get sick I know many natural methods to ramp up my immune system’s ability to fight off any infection whether viral or bacterial.



    If you are not healthy, begin taking steps to correct that now. This virus will be back, and when it does you want your immune system to be functioning at a high level. Take advantage of this “lockdown” time and gain some knowledge. Instead of watching the 24/7 news cycle repeated over and over again (which can rapidly lead to depression and a loss of hope) redeem the time and study how you can change your diet and lifestyle and get in excellent health. After the current madness subsides and the stores are restocked, begin stocking up on the supplies you will need for the next round of this. Become self sufficient and prepared for any emergency. Whatever you do, do not sit back and wait for the government or pharmaceutical industry to save you.



    If you do these things you can join me as I watch in stunned amazement the next time the whole world panics due to a pandemic. You will also be in a position to guide and assist your loved ones and neighbors. An economic storm and additional pandemic storms are coming and like minded people around the world need to pull together and help each other when they hit.



    *  *  *



    Percy Carlton is a soon to be retired firefighter/paramedic in a large city in the State of Florida in the USA. He has relentlessly studied and pursued truth in the areas of health, economics and geopolitics for the past 10 years.




    Tyler Durden

    Tue, 03/31/2020 - 00:05
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    UK Gay Pride Parade to Go Ahead Despite Coronavirus Fears

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    Priorities.
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    "A Multitrillion Dollar Helicopter Credit Drop": How The Fed Turned $454 Billion Into $4.5 Trillion

    zerohedge News multitrillion dollar helicopter credit drop turned billion into trillion All https://www.zerohedge.com   Discuss    Share
    "A Multitrillion Dollar Helicopter Credit Drop": How The Fed Turned $454 Billion Into $4.5 Trillion

    Last Friday, to bipartisan cheers - and one sole, rational dissenter who was promptly silenced after asking "if $6 trillion is fine, why not $350 trillion" - Trump signed into law a $2.2 trillion corporate, hedge fund and bank bailout fiscal spending package, which quickly became the main topic of the current new cycle. What was not at all discussed, purpose

    Read More
    fully so due to the complexity of the underlying math, is that in parallel to the Treasury's 2 trillion package, the Fed received a green light to lend up to $4.5 trillion in new credit (which is where Kudlow's misconstrued "$6 trillion stimulus" comment came from).



    And as usually happens with matters Fed related, the fact that the Fed received permission from the Treasury to "stimulate" by more than twice the full amount of the CARES act, flew right over America's head. Which, if to be expected, is lamentable, because by giving the Fed a green light to inject money at will, the US government officially launched helicopter money.



    Or rather, "helicopter credit" as Wrightson ICAP chief economist Lou Crandall put it, and as Bloomberg further refined it, "a Multitrillion Dollar Helicopter Credit Drop."



    So how do we get to $4.5 trillion? Here's how it happened.



    The roles of the Treasury Department and Federal Reserve are different in a bailout. The Treasury Department is part of the Executive Branch. It receives its funding from taxpayers. It is accountable to Congress and to the President. It just received $454 billion in the CARES Act. The Federal Reserve, in contrast, is a private, bank-owned agency which pretends to operate on behalf of the people but in reality makes sure the financial system and the commercial banks that dominate are viable and profitable (if they aren't they are bailed out).


    Source: Bank of England

    As a result, the Fed's members and private owners are banking institutions who keep massive reserves on deposit at the Fed. The Federal Reserve has many roles in the economy, but none of them is to take on credit risk. So how do you get the Fed to establish a “loan” facility, as contemplated in the CARES Act, if it will not take on credit risk? And not just any loan but $4.5 trillion in loans?



    This tsunami of credit (the helicopter comes next... and last) is made possible by the $454 billion set aside in the aid package for Treasury to backstop lending by the Fed. The Treasury’s contribution, as Tom Barrack explained recently, you can think of as "equity" — that is, Treasury will stand in a “first loss” position on every loan made to corporate America.



    The Fed will contribute the "leverage" — the money that will help make loans using the Treasury's equity and be levered 10-to-1. Such leverage assumes no more than 10% capital losses (on "AAA-rated" paper), as the Fed is not allowed to be impaired. Of course, in a real crash the losses will be far greater but we'll cross that particular bailout of the bailout when we get to it. The loan fund, now levered up ten-fold thanks to the Fed's own $4.1 trillion, will then make loans to businesses.



    "Effectively one dollar of loss absorption of backstop from Treasury is enough to support $10 worth of loans." Fed Chair Powell said in in a rare nationally-televised interview last Thursday morning. “When it comes to this lending we’re not going to run out of ammunition" and he is right - the Fed can apply any leverage it wants; after all the value of the collateral it lends against is whatever the Fed decides!



    Visually, the magic of the Fed's 10x leverage looks as follows:


    Source: Tom Barrack

    The overall size of the Fed-Treasury loan fund depends on how much Fed money will be supplied for every dollar of "equity" the Treasury contributes.



    In theory, the answer is a function of what is called the “credit box.” If the loan program makes loans only to investment grade companies (those rated BBB or higher), the Fed will contribute more capital than if the loan program makes loans to companies with lower credit ratings or no ratings at all. In other existing Fed loan programs, the Fed supplies about $9 for every $1 of Treasury capital, but in those programs the loans are secured by extremely high-quality collateral (often AAA).


    Source: Tom Barrack

    In practice, the Fed - which can "print" an infinite amount of dollars in exchange for any "collateral" including baseball cards, donkey turds, used condoms or oxygen - can lever up 20x, 50x, even 100x or more with zero regard for the underlying collateral.



    And the real kicker is that what and how the Fed decides on what leverage to apply, how to value the collateral, and which companies to bailout (and which to let fail), is now a secret. That's because the Senate-approved stimulus bill repeals the sunshine law for the Fed’s meetings until the President says the coronavirus threat is over or the end of the year (spoiler alert: the coronavirus threat will never be over). That could make any FOIA lawsuits to disclose details of what’s is taking place in Fed meeting a non-starter since it has been codified in a federal law, to wit:




    SEC. 4009. TEMPORARY GOVERNMENT IN THE SUNSHINE ACT RELIEF. (a) IN GENERAL.—Except as provided in subsection 8 (b), notwithstanding any other provision of law, if the Chairman of the Board of Governors of the Federal Reserve System determines, in writing, that unusual and exigent circumstances exist, the Board may conduct meetings without regard to the requirements of section 552b of title 5, United States Code, during the period beginning on the date of enactment of this Act and ending on the earlier of— (1) the date on which the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 20 U.S.C. 1601 et seq.) terminates; or (2) December 31, 2020.




    So what does all this mean? Three things:



    1. the US population will go in debt to the tune of at least $454 to pre-fund the Treasury's "first-loss" equity tranche which will be then handed over to the Fed as seed capital. That's in addition to the trillions in additional debt the Treasury will incur to fund the fiscal stimulus and whatever subsequent programs it launches.

    2. the Fed will then apply 10x - or much more - leverage to make any collateral it makes loans against "money good", bailing out any and all asset holders while triggering the endgame of the US dollar as the world's reserve currency, because without even a veiled pretense of scarcity, the dollar literally becomes less valuable than toilet paper. 

    3. As JPM's chief economist Michael Feroli put it, "The Fed has effectively shifted from lender of last resort for banks to a commercial banker of last resort for the broader economy."

    And the punchline: this mechanism which is now codified by law and which grants the Fed literally unlimited power to bailout anything and anyone, and which marks the beginning of the end for the US dollar, was delivered by America's politicians with pride:



    "Very quickly we hope to stand up a very broad based lending facility that could be leveraged up to $2 or $3 trillion,” Senator Pat Toomey told reporters Wednesday. "We’re hoping it’s a mechanism to keep businesses alive for a few weeks or months until our economy can resume."



    And if it can't resume in a "few weeks or months", the mechanism will keep running until the Fed can - and will - nationalize everything.



    So congratulations America, you were just bought by a group of anonymous bankers with your own elected politicians making it possible. The price? $1,200 per person per month for a month or two...




    Tyler Durden

    Mon, 03/30/2020 - 22:57
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    Video: Americans Ask Why Are Hundreds Of Hospitals Are Empty? #FilmYourHospital Goes Viral

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    Citizens question the severity of the COVID-19 pandemic.
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    The US 2020 Fiscal Deficit Will Explode To 18%, Unseen Since World War II

    zerohedge News 2020 fiscal deficit will explode unseen since world All https://www.zerohedge.com   Discuss    Share
    The US 2020 Fiscal Deficit Will Explode To 18%, Unseen Since World War II

    Authored by Chetan Ahya, Morgan Stanley chief economist



    A Full-Court Policy Press

    I hope that you and your families are well. The past few weeks have been challenging both personally and professionally. Covid-19 is at once a human tragedy and unparalleled synchronous shock, affecting both the demand and supply sides of the globa

    Read More
    l economy.



    Given the scale of disruption to economic activity, we expect a deep global recession in 1H20, with growth contracting by 2.3%Y in 1H20. Assuming the outbreak peaks by April/May, this will likely set the stage for a recovery in 2H20, to 1.5%Y by 4Q20. For the US, we expect an unprecedented drop of 30.1%Q SAAR in 2Q20 with the unemployment rate also rising to a record 12.8% (since data collection began in the 1940s) before we see it bouncing back at a 29.2%Q SAAR pace in 3Q20. However, global growth for full-year 2020 will still see a decline of 0.6%Y, past the 0.5%Y rate of contraction we saw during 2008 and, on our estimates, the weakest pace of growth during peacetime since the 1930s.



    Even before the coronavirus outbreak, the post-GFC global economy had been facing the triple challenge of demographics, debt and disinflation (the 3D Challenge we have written about previously), which the world last faced in the 1930s. At its core, the outbreak represents a substantial shock to incomes, and the impact on aggregate demand will ultimately create renewed disinflationary pressures. The debt challenge will also become more pronounced in the near term as nominal GDP growth weakens and nations, households and corporates face rising levels of indebtedness. Taken together, we expect these forces to bring the 3D Challenge back to the fore.



    The silver lining is that the coronavirus has elicited a strong coordinated monetary and fiscal response. The pace and magnitude at which these policies have been implemented are also unprecedented. Since mid-January, 23 of the 30 central banks we cover have eased monetary policy. The global weighted average policy rate has declined to below post-GFC lows. All the G4 central banks have now announced aggressive quantitative easing programmes. We estimate that these central banks will make asset purchases of ~US$6.5 trillion in this easing cycle, with cumulative asset purchases of US$4-5 trillion by the Fed alone.





    Over the last few days, the pace of fiscal action has also picked up significantly. We now expect that in the G4 plus China, the combined primary fiscal balance will rise by 440bp (~US$2.8 trillion) in 2020. As a percentage of GDP, the G4+China cyclically adjusted primary deficit will rise to 8.5% of GDP in 2020, significantly higher than the 6.5% in 2009 immediately after the GFC.



    In the US, the speed and magnitude of the policy response have been truly remarkable. The Fed has cut rates to zero and put QE and other lending facilities in place much faster than during the GFC. A fiscal stimulus package has been assembled in a little over a week, compared with two months for the 2008-09 package. In terms of magnitude, we expect the cyclically adjusted primary fiscal deficit to rise to 14% of GDP in 2020 (assuming stimulus of US$2.0 trillion) compared with 7% of GDP in 2009 – the highest level since the 1930s. The headline fiscal deficit will rise to around 18% of GDP in 2020.





    Based on the experience of the 1930s and of Japan since the 1990s, this aggressive, coordinated fiscal and monetary easing will be critical in addressing the 3D Challenge. With the help of this extraordinary policy action, and assuming an April/May Covid-19 peak, we expect the global economy to be on the mend from 3Q20 onwards.





    However, based on the experience in China, we foresee a tepid pace of recovery initially, and it won’t be until 3Q21 that output reaches pre-Covid-19 levels in the US and euro area.



    Hawks will undoubtedly argue (and we’ve already heard murmurings) that these expansionary policies bring the risks of rising inflation and deficits and risks to debt sustainability. However, we take the opposing view and argue that these policies need to remain in place for longer until inflation expectations have systematically risen closer to the central banks’ goals. Again, the 1930s offer a cautionary tale. Because expansionary policies were terminated prematurely in 1936-37, the US economy suffered a double dip in 1937-38 (see Global Macro Briefing: 1937-38 Redux?). Hence, policy-makers must not be too quick to sound the all-clear.




    Tyler Durden

    Mon, 03/30/2020 - 20:45
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    Why The Stimulus Bill is Bad For America

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    A look into the secretive plan.
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    Pentagon Confirms Over 1,000 COVID-19 Cases Among Military, Orders Bases To Stop Public Reporting

    zerohedge News pentagon confirms over covid-19 cases among military orders basesto stop publicreporting All https://www.zerohedge.com   Discuss    Share
    Pentagon Confirms Over 1,000 COVID-19 Cases Among Military, Orders Bases To Stop Public Reporting

    The Department of Defense (DoD) announced a grim milestone Monday — it's total number of COVID-19 cases among US service members, civilian contractors, on-base civilian staff, and family dependents of troops has surpassed 1,000.



    “Total DoD Cases (current, recovered and deaths) is 1,087,” according to DoD fact sheet released on Monda

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    y. The numbers are as follow:




    • 569 military cases




    • 220 civilian cases 




    • 190 dependent cases




    • 64 contractor cases



    Defense Secretary Mark Esper, via Reuters.

    The Pentagon said 569 service members have been infected, among these 26 hospitalizations, and 34 have recovered.



    The remainder of total cases involve civilian contractors working on military bases and/or at the Pentagon, as well as dependents. This number is up significantly from Friday's total DoD number of 600.



    But it appears we are fast heading toward a near total reporting blockage in terms of DoD-wide cases, and specifically where they originate, and in what branches of the US armed services. As Stars & Stripes reports:




    The Defense Department has ordered commanders at all of its installations worldwide to stop announcing publicly new coronavirus cases among their personnel, as the Pentagon said Monday that more than 1,000 U.S. military-linked people had been sickened by the virus.



    The order issued by Defense Secretary Mark Esper on Friday is meant to protect operational security at the Defense Department’s global installations, Jonathan Hoffman, the Pentagon’s chief spokesman, said in a statement Monday. He said Defense Department leaders worried adversaries could exploit such information, especially if the data showed the outbreak impacted U.S. nuclear forces or other critical units.




    This constitutes perhaps the clearest admission thus far throughout the crisis that the coronavirus pandemic is a serious threat to US defense readiness and national security.


    USS Theodore Roosevelt, via US Navy

    Currently at least two aircraft carriers are battling outbreaks in their midst - both are in the Pacific Ocean and likely have seen their operational readiness deeply compromised as commanders try to contain the spread, with the USS Theodore Roosevelt already being diverted to Guam days ago.




    Tyler Durden

    Mon, 03/30/2020 - 21:05
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