Economy
China is taking pleasure in US mishandling of coronavirus (Thomas R.)
They find it hard to believe that the world’s top superpower might be bungling its response to the virus, even after having had weeks to prepare for its possible arrival. Chinese officials discovered the first known case of Covid-19, the disease caused by coronavirus, in Wuhan, China in early January. The first case discovered in the US came weeks later, on Jan. 20, in Washington. The outbreak has only intensified across the country since then, spreading even more rapidly in recent days.
In the U.S., More Than 300 Coronavirus Cases Are Confirmed (Thomas R.)
Authorities across the United States reported 307 cases of coronavirus and 17 deaths as of Friday, with Florida reporting the first deaths on the East Coast. The number of infections does not count the 21 people who have tested positive aboard a cruise ship off California.
Hospitals are confronting the rising threat of the novel coronavirus in the US. In a February webinar presentation hosted by the American Hospital Association, national healthcare experts from organizations across the US laid out what hospitals need to know as they face the virus that causes COVID-19. Here’s a look at the presentation, which includes estimated projections of as many as 96 million cases in the US, 4.8 million hospitalizations, and 480,000 deaths associated with the novel coronavirus.
In short: Trump bet on containment rather than mobilization. It was a bad bet. But in Trump’s mind, it was a “tremendous success”. As a result, top health officials fearful of his wrath assured him it was working, rather than preparing for its inevitable failure. Now, Trump is fully invested in making coronavirus disappear, even while it continues its spread. But the only way to do that is to slow-walk testing, put a chokehold on the release of information, repeatedly insist that everyone says he’s doing a good job, and hope for a miracle.
Nursing home grappling with coronavirus outbreak struggles for answers (Thomas R.)
Since the first COVID-19 case was reported at the facility on Feb. 19, 26 Life Care residents have died, with at least half of those attributable to the virus. In Washington state, 16 total people have died because of the virus, by far the most of any state in the U.S., where it’s killed 19.
Life Care, in Kirkland, Washington, has received 45 test kits and asked for more. More than 60 residents are still living there.
China’s Coronavirus: A Shocking Update. Did The Virus Originate in the US? (gb.und)
Chinese medical authorities – and “intelligence agencies” – then conducted a rapid and wide-ranging search for the origin of the virus, collecting nearly 100 samples of the genome from 12 different countries on 4 continents, identifying all the varieties and mutations. During this research, they determined the virus outbreak had begun much earlier, probably in November, shortly after the Wuhan Military Games.
The Baby Boomer Investing Show (Ron Surz)
Saving enough is the most important thing an investor can do. Then keeping it is the second most important thing. The 4 pillars of smart investing guide investors to achieving their goals. If you’re using an advisor, you need to trust but verify that the 4 pillars are still standing.
You Already Live In Quarantine (tmn)
A number of organizations have also started preventative action. Twitter has banned noncritical business travel for its workers and “strongly encouraged” all its employees to work from home if they could. Amazon introduced restrictions on company visitors after two employees in Europe contracted the virus. Large trade shows and conferences have started pulling the plug, among them Facebook’s annual event for its platform developers.
How Working-Class Life Is Killing Americans, in Charts (tmn)
Case and Deaton — a married couple who are both economists at Princeton — try to explain the causes in a new book, “Deaths of Despair and the Future of Capitalism.” Their basic answer is that working-class life in the United States is more difficult than it is in any other high-income country. “European countries have faced the same kind of technological change we have, and they’re not seeing the people killing themselves with guns or drugs or alcohol,” Case says. “There is something unique about the way the U.S. is handling this.”
Are Frequent Flier Miles Killing the Planet? (jdargis)
But then, in December, hordes of passengers did what they do every year: took cross-country or transoceanic flights for little purpose other than maintaining elite status (and thus, access to lounges and upgrades) on their chosen airline for 2020. Many proudly posted about the deals on message boards or used #mileagerun and #statusrun hashtags to show off their business-class digs on Instagram.
Oil Prices, Stocks Plunge After Saudi Arabia Stuns World With Massive Discounts (TS)
Late last week, Saudi Arabia, the rest of OPEC and Russia failed to agree on production cuts to combat falling prices because of fears that the coronavirus epidemic will halt world economic growth. Oil prices were down more than 30% this year before Sunday’s collapse.
EPA Updates Plans to Limit Use of Science in Decision-Making (joesam45)
“They’re putting in nonscientific criteria to decide what science the agency can use,” said Andrew Rosenberg, director of the Center for Science and Democracy at the Union of Concerned Scientists, as The New York Times reported. “Now the most important thing is whether the data is public, not the strength of the scientific evidence.”
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