The cure for Corona Corona must be nearly here

From a serious “politician”: The president is turning to racist rhetoric to distract from his failures to take the coronavirus seriously early on, make tests widely available, and adequately prepare the country for a period of crisis.”

More here. And let’s not forget dining with Bono, which we thought was the guy on TV with Cher.

3 Responses to “The cure for Corona Corona must be nearly here”

  1. feeblemind Says:

    Chinese virus is racist?? Then is it racist to go out for Chinese food? What could we call it that wouldn’t be racist?

    It’s all BS and i am not playing.

  2. feeblemind Says:

    This Is Not a Recession. It’s an Ice Age.

    No one alive has experienced an economic plunge this sudden.

    What is happening is a shock to the American economy more sudden and severe than anyone alive has ever experienced. The unemployment rate climbed to its apex of 9.9 percent 23 months after the formal start of the Great Recession. Just a few weeks into the domestic coronavirus pandemic, and just days into the imposition of emergency measures to arrest it, nearly 20 percent of workers report that they have lost hours or lost their job. One payroll and scheduling processor suggests that 22 percent of work hours have evaporated for hourly employees, with three in 10 people who would normally show up for work not going as of Tuesday. Absent a strong governmental response, the unemployment rate seems certain to reach heights not seen since the Great Depression or even the miserable late 1800s. A 20 percent rate is not impossible.

    State jobless filings are growing geometrically, a signal of how the national numbers will change when we have them. Last Monday, Colorado had 400 people apply for unemployment insurance. This Tuesday: 6,800. California has seen its daily filings jump from 2,000 to 80,000. Oregon went from 800 to 18,000. In Connecticut, nearly 2 percent of the state’s workers declared that they were newly jobless on a single day. Many other states are reporting the same kinds of figures.

    These numbers are subject to sharp changes; things like large plant closures lead them to jump and fall and jump and fall. But for them to rise so precipitously, across all of the states? To stay high? That is new. The economy is not tipping into a jobs crisis. It is exploding into one.

  3. feeblemind Says:

    Stop The Coronabailout From Raining Your Money On Corporate Lobbyists Instead Of Struggling Americans

    “Never let a crisis co to waste.”

    From the article:

    “I hope I’m wrong, but the list of what lobbyists are asking for is long, and ugly, and often the requests for money or legislative favors are done to cover up mistakes made before the coronavirus hit.

    Take Boeing. The aerospace giant of course wants a $60 billion bailout. Financial problems for this corporation predated the crisis, with the mismanagement that led to the 737 Max as well as defense and space products that don’t work (I noted last July a bailout was coming). The corporation paid out $65 billion in stock buybacks and dividends over the last ten years, and it was drawing down credit lines before this crisis hit.

    It is highly politically connected; the board of the corporation includes Caroline Kennedy, Ronald Reagan’s Chief of Staff Ken Duberstein, three Fortune 100 CEOs, a former U.S. trade representative, and two admirals, one of whom is the board’s only engineer. Using the excuse of the coronavirus, Boeing is trying to get the taxpayer to foot the bill for its errors, so it can go back to making more of them.

    But that’s not all. Defense contractors want their payments sped up, and I’ve heard they want to widen a giant loophole called “other transaction authority” to get around restrictions on profiteering. Elon Musk and Jeff Bezos want “$5 billion in grants or loans to keep commercial space company employees on the job and launch facilities open.” They also want the Internal Revenue Service to give them cash for R&D tax credits.

    CNBC reported that hotels want $150 billion, restaurants want $145 billion, and manufacturers wants $1.4 trillion. And the International Council of Shopping Centers wants a guarantee of up to $1 trillion. The beer industry wants $5 billion. The candy industry wants $500 million.

    The New York Times reported that “Adidas is seeking support for a long-sought provision allowing people to use pretax money to pay for gym memberships and fitness equipment.” Gyms are of course closed. Meatpackers want special visas so they can undercut wages of their workers, and importers want to stop paying duties they incurred for harming domestic industries for illegally dumping products into the United States.”

    I don’t know what the answer is. Some of these industries have been severely hurt through no fault of their own. All of them will be looking to take advantage of the situation to get all they can.

    Question: How many trillions can Uncle Sam pour into a moribund economy to get it restarted without stoking the fires of inflation?

    Odd too, how many deficit/debt hawks have no trouble with this kind of spending if it is a result of fighting the virus. Suddenly a putative 2-3 trillion in new debt is just hunky-dory.

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