Economy
Fed Embraces Libor Again and Risks Undermining Push to Kill It (Sparky1)
“The crisis does make it tougher and it will put a lot more time pressure on meeting the deadline,” said Darrell Duffie, a finance professor at Stanford University who has written extensively on Libor. He called the Fed’s decision, while necessary, “very unfortunate” and a missed opportunity to pivot away from the benchmark, adding that it’s a sign that U.S. lenders “were not getting ready” for the transition.
A second and third wave of coronavirus deaths is now very likely, according to German researchers (Sparky1)
But Wieler also said it was “very good news” that Germany, whose government has been praised for its handling of the coronavirus outbreak, had seen daily infections drop to between 700 and 1,600 a day.
The number of new cases in Germany rose above 164,000 on Tuesday, while the death toll rose to above 6,800 according to a German Press Agency tally.
Your Genes May Determine Whether COVID-19 Puts You In Hospital Or Not (kegler)
But not all alarm systems are created equal. People have different versions of the same genes – called alleles – and some of these alleles are more sensitive to certain viruses or pathogens than others.
To test whether different alleles of this alarm system could explain some of the range in immune responses to SARS-CoV-2, we first retrieved a list of all the proteins that make up the coronavirus from an online database.
U.S. private payrolls dive by a record 20.2 million (Sparky1)
Data for March was revised to show private payrolls decreasing by 149,000 jobs instead of the previously reported 27,000, which was the first decline since September 2017.
Economists polled by Reuters had forecast private payrolls tumbling by 20.050 million jobs in April. The ADP report is jointly developed with Moody’s Analytics.
After Trump’s statements about hydroxychloroquine, lupus and arthritis patients face drug shortage (LesPhelps)
Dr. Alfred Kim, a rheumatologist in St. Louis, said his patients are facing the same difficult situation because of Trump’s comments about hydroxychloroquine.
After Trump’s initial embrace of the drugs in mid-March, Kim checked in with nearby pharmacies and found that “the entire local supply was depleted” within days, he told CNN.
Coronavirus survivors banned from joining the military (MGRS)
Specifically, it lays out guidelines for MEPS staff to deal with potential, as well as confirmed, coronavirus cases. That starts with screening at all MEPS, which includes taking a temperature and answering questions about symptoms and potential contact.
If an applicant fails screening, according to the memo, they won’t be tested, but they can return in 14 days if they’re symptom-free. Anyone who has been diagnosed with COVID-19 will have to wait until 28 days after diagnosis to report to MEPS.
We also test the Chen Heng V9501 KN95 and HKYQ N95 finding no degradation of mask filtration efficiency, however even for unheated masks these scored <50 for every fit test. The heating method presented here is scalable from individual masks to over a thousand a day with a single industrial convection oven, making this method practical for local application inside health-care facilities.
Conclusions: Chloroquine and arbidol could not only shorten the viral shedding interval but also decreased the hospitalisation duration and hospitalisation expenses.
Trump has indicated he wants the Postal Service to dramatically raise fees for delivering packages for customers such as Amazon in exchange for tapping the line of credit. Trump has long argued that Amazon doesn’t pay the Postal Service enough, a charge the agency has fiercely contested. (Amazon’s chief executive, Jeff Bezos, owns The Post.)
“Louis DeJoy understands the critical public service role of the United States Postal Service, and the urgent need to strengthen it for future generations,” Robert M. Duncan, chairman of the board of governors, said in a statement.
“We started off with a broken system,” Trump previously said. “We inherited a broken, terrible system. And I always say it, our cupboards were bare. We had very little in our stockpile.”
The Strategic National Stockpile, which manages the US’s reserves of medical equipment for use in a crisis, does not publicly disclose its inventory. But CNN has reported that both President Barack Obama and Trump ignored warnings that the US could be unprepared for a pandemic.
Special Report: U.S. rearms to nullify China’s missile supremacy (Sparky1)
The Pentagon intends to arm its Marines with versions of the Tomahawk cruise missile now carried on U.S. warships, according to the White House budget requests for 2021 and Congressional testimony in March of senior U.S. military commanders. It is also accelerating deliveries of its first new long-range anti-ship missiles in decades.
‘It’s Murder’: This Shooting of an Unarmed Black Man Is Roiling Georgia (LK)
“It’s murder. It’s heartbreaking to even look at. The whole city has seen it,” Brooks, Arbery’s aunt, told The Daily Beast of the clip circulating. “Right now we just have to stay calm because it’s a graphic video, it was very painful to watch, and we know what we knew the other day: one man was murdered, and two men are out.”
Was 2019 the peak of the fossil fuel era? (Bill M.)
Reduce fossil fuel demand by 8% and it will be very hard to get back to former levels of demand before renewables get big enough to supply all the growth. Demand will bounce back in 2021, but the bounce is highly unlikely to be by as much as the fall given the economic hardship that is coming. And after that it is hard to envisage fossil fuel demand maintaining its old growth rates of even 1% because there will be ongoing impacts on the way we travel and trade. If demand for fossil fuels bounces back in 2021 by half the amount it fell in 2020, and grows at 0.5% a year, it would take 8 years to get back to where the industry started.
Oil Prices Fall As 20 Million Americans Lose Their Jobs (Michael S.)
Ahead of EIA’s official commercial oil inventory report on Wednesday, oil prices erased early gains for the day and started slipping after the ADP National Employment Report showed that a stunning number of 20,236,000 people lost their jobs the private sector in the United States from March to April. Official U.S. unemployment figures are due out on Friday, and are expected to be equally dismal, or even worse. MarketWatch expects that U.S. unemployment rate has jumped to 15 percent—the highest on record—up from 3.5 percent unemployment rate just two months ago.
Minutes before the line started rolling, her boss visited each employee on the line, one by one, letting them know that another worker tested positive for COVID-19.
Leaving no time to for questions, Day said, her supervisor shared the news and pointed to a poster on the wall. The notice informed employees they were eligible for a $600 bonus if they continued to come to work for the next few months, Day said.
Meatpacking industry hits grim milestone of 10,000 coronavirus cases linked to plants (Sparky1)
The shutdowns sparked meat shortages in some parts of the country and triggered an executive order by President Donald Trump to keep plants open. But more than a week after Trump’s order, closures have continued unabated, the media outlets found.
Gold & Silver
Click to read the PM Daily Market Commentary
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 5/7 – Second and Third Wave Of Coronavirus Deaths Now Very Likely, Was 2019 The Peak Of The Fossil Fuel Era? appeared first on Peak Prosperity.
from Peak Prosperity https://ift.tt/3b64j5u
