Friday, May 08, 2020

Coronavirus News (83)

Coronavirus: California reports more than 2,500 new cases, most in a single day There also were 94 new deaths reported in California, bringing the total number of deaths to 2,376.
The President As A Model For The Nation: From Toasters And Sweaters To Masks
Bernie Sanders, Kamala Harris and Ed Markey team up to propose monthly payments of $2K during pandemic
Three potential futures for Covid-19: recurring small outbreaks, a monster wave, or a persistent crisis



Texas posts third straight day of 1,000 new cases as state reopens
GOP lawmakers propose renaming Chinese Embassy street for coronavirus whistleblower doctor from Wuhan
Senate fails to override Trump veto on Iran war powers
Political fantasy battles economic reality after tens of millions of jobs lost Trump expects a sharp bounce-back in jobs. But as bankruptcies pile up, the labor market will need much of the next decade to replace the jobs gone for good. ........ The U.S. economy is sitting in its deepest hole since the Great Depression, with more than 33 million Americans losing their jobs in just seven weeks and an unemployment rate likely to top 20 percent this year under the weight of the coronavirus pandemic. ........ And it’s likely to take years — perhaps much of the next decade — to dig out. ........ the recovery is likely to be weighed down by severe damage to the private sector and a resistance to returning to the old normal, keeping the jobless rate still near 10 percent — the high of the Great Recession — by the end of 2021, a year into the next presidential term in office. ........ Recent moves across the U.S. to roll back measures enacted to slow the spread of the deadly Covid-19 outbreak could backfire and make the economic decline longer and worse — putting some states on course for deepening economic turmoil into the summer. .......... they overwhelmingly fear fresh outbreaks, putting a lid on a significant recovery in consumer spending — let alone the rehiring it would eventually support — until much more virus testing and treatment is available. ........ “It is going to be years before we recover all of these lost jobs and as much as 25 percent of them aren’t ever coming back.” .........

the “next step is to discover if we suffered a fundamental economic break that is permanent. And it would appear the answer to that is yes.”

........ while the jobless rate will start declining by the fourth quarter of this year, it will remain at 9.5 percent at the end of 2021 and that 6 million people will have exited the labor force entirely by then. ...... jobs cuts are now spreading into higher-paid positions in goods production and business services. The oil and gas industry is hemorrhaging jobs amid a historic collapse in oil prices. ........... In some ways, the Covid-19 crisis compressed what could have been several years of shifts to online retailers such as Amazon and Overstock into a period of weeks ........ Companies coming out of the crisis may also accelerate their reliance on technology to replace staff and reduce the amount of office space they need, slowing job gains and hurting the commercial real estate industry. ........ “Industries writ large are going to have trouble reopening and others are going to figure out how to use technology to limit the number of people they rehire. This crisis has just accelerated all of these trends.” ........ the largest cuts came in leisure and hospitality at 8.6 million workers, followed by trade, transportation and utilities at 3.4 million. But it also showed losses in construction (2.5 million) and manufacturing (1.6 million) that have likely accelerated in recent weeks. .........

as with retail, many of the oil and gas jobs will be vaporized

....... it’ll be “a slog for the economy as we grapple with a potential second wave of infections. The economy won’t kick into any kind of gear until there is a widely distributed vaccine.” ........

this is the biggest shock that our economy has ever seen

......... report for April showed small businesses shed 6 million jobs in April. Many are of those are likely gone for good. ......... it could be years before business and personal travel returns to levels seen before the crisis. ........ the coronavirus crisis has exposed structural problems with the U.S. economy that could take years to fix. “This has fallen disproportionately on workers with high school or less than high school education” ........

“You could drop as much money on me as you want, but that doesn’t mean I’m going to go book a vacation and get on a plane”

......... “The economic recovery will not be like a rocket ship, as the president likes to say,” said Zandi.

“It will be more like a truck that got stuck in the mud — at least until there is a vaccine.”



Elon Musk Says Tesla Battery Patent 'Way More Important Than It Sounds'
HAS CORONAVIRUS REALLY MUTATED INTO TWO STRAINS, WITH ONE MORE TRANSMISSIBLE THAN THE OTHER?
No, There Isn't A New, More Contagious Form of Coronavirus Spreading Across the U.S. The coronavirus is mutating, but not enough for a new strain to develop and spread.
Coronavirus found in semen of COVID-19 survivors; sexual transmission unclear, study says Traces of the COVID-19 coronavirus have been found in the semen of some severely infected men, raising the possibility that the virus might be sexually transmitted
The "Plandemic" Video Has Exploded Online — And It Is Filled With Falsehoods The slickly produced video has been viewed by millions, despite platforms' attempts to limit its spread.

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