Coronavirus Media ArticlesExcerpts of Key Coronavirus Media Articles in Major Media
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Previous vaccines have taken a decade or more to develop, and more than half of the past 20 years have failed in clinical trials. However, four [COVID-19] vaccine candidates have entered the final phase of clinical trials prior to approval by the Food and Drug Administration. Operation Warp Speed ... organized government agencies and private companies with the goal of developing, manufacturing and distributing hundreds of millions of vaccine doses, with starting doses to be available by early 2021. At the head of the operation is Moncef Slaoui, a Moroccan-born Belgian-American scientist. Operation Warp Speed Ă˘â‚Źâ€ąĂ˘â‚Źâ€ąhas invested in six vaccine candidates (Moderna, Pfizer / BioNTech, Johnson & Johnson, AstraZeneca, Novavax, and Sanofi / GSK) with the hope that at least one ... will prove safe and effective in clinical trials. Four of the six vaccine candidates have already been shown to be safe and effective in the first two test phases, which test whether the vaccinations produce so-called neutralizing antibodies. Serious health problems regularly arise during vaccination attempts. Ă˘â‚ŹĹ’We know how to distribute vaccines to any location in the US,Ă˘â‚ŹĹĄ says Slaoui. Ă˘â‚ŹĹ’It happens every year for flu and shingles.Ă˘â‚ŹĹĄ Tracking systems need to be Ă˘â‚ŹĹ’incredibly preciseĂ˘â‚ŹĹĄ to ensure that patients are each given two doses of the same vaccine and to monitor them for adverse health effects. Operation Warp Speed Ă˘â‚Źâ€ąĂ˘â‚Źâ€ąhas selected medical distributor McKesson and cloud operators Google and Oracle to collect and track vaccine data.
Note: The above article is also available here. DonĂ˘â‚Źâ„˘t miss this excellent article which raises many important questions about this operation. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and vaccines from reliable major media sources.
With all the talk of remote learning for secondary schools and colleges, one important population is missing from the nationwide conversation about learning during the pandemic: babies and toddlers. Many parents are keeping their little ones away from playgrounds, playgroups and preschool preparatory programs. As a result, the social and learning opportunities for the youngest children have been curtailed, just like everyone else's Without group settings, â€śwe are missing a lot of observations, so there is going to be a whole raft of problems,â€ť said Patricia K. Kuhl ... at the University of Washington. That's partly because group settings like day care, classrooms and even playgrounds are often where adults notice, sometimes by comparing children with their peers, that little ones have sensory, motor, cognitive and learning problems that can benefit from early interventions. To encourage the sense of discovery and the â€śproblem solving, turn-taking and perspective-takingâ€ť that comes from situations like â€śnavigating that playground moment of when you are going up a slide, and another kid wants to come down the slide,â€ť [psychologist Aliza W. Pressman] advises letting children play in an undirected manner. That may mean allowing children â€śto use garages, backyards, basements or attics to find opportunities for exploring,â€ť Dr. Pressman said. If children encounter obstacles, allow them to work things out. That includes conflicts with siblings, though â€śif you do need to jump in, help them communicate with each other,â€ť she said.
Note: Children around the world have been told to keep at least six feet away from their friends and they have to wear a mask if they leave home. They can no longer play and explore freely with their friends or even see their smiles. How does this affect their mental, emotional, and spiritual health? How do you think those who are only children with no playmates are faring? How will this impact this entire generation of children growing up now? For more along these lines, see revealing news articles on the coronavirus from reliable major media sources.
A COVID-19 envoy appointed by Director-General of the World Health Organisation (WHO) Dr Tedros Adhanom Ghebreyesus has appealed to world leaders to stop resorting to lockdown to control the pandemic. Dr David Nabarro, who has spent his career working for the WHO and the United Nations (UN), seems to have marked a departure from the global health body's early stance on the COVID-19 pandemic, warning about the economic and social consequences of lockdown as a means of controlling the spread of the disease. On Sunday, Dr Nabarro appealed to world leaders to stop "using lockdowns as your primary control method", insisting that such drastic measures can have a dire impact on global poverty rates. The British doctor stated: "We in the World Health Organisation do not advocate lockdowns as the primary means of control of this virus. The only time we believe a lockdown is justified is to buy you time to reorganise, regroup, rebalance your resources, protect your health workers who are exhausted, but by and large, we'd rather not do it." Dr Nabarro went on to say that developing economies had been indirectly affected by lockdown measures, adding: "Look what's happened to smallholder farmers all over the world -- look what's happening to poverty levels. "It seems that we may well have a doubling of world poverty by next year. We may well have at least a doubling of child malnutrition. Lockdowns just have one consequence that you must never ever belittle, and that is making poor people an awful lot poorer."
Billionaires have seen their fortunes hit record highs during the pandemic, with top executives from technology and industry earning the most. The world's richest saw their wealth climb 27.5% to $10.2trn (Ł7.9trn) from April to July this year, according to a report from Swiss bank UBS. That was up from the previous peak of $8.9trn at the end of 2017 and largely due to rising global share prices. UBS said billionaires had done "extremely well" in the Covid crisis. It also said the number of billionaires had hit a new high of 2,189, up from 2,158 in 2017. It comes as a World Bank report on Wednesday showed extreme poverty is set to rise this year for the first time in more than two decades due to the pandemic. Among the billionaires, the biggest winners this year have been industrialists, whose wealth rose a staggering 44% in the three months to July. "Industrials benefited disproportionately as markets priced in a significant economic recovery [after lockdowns around the world]," UBS said. Tech billionaires have also had a good pandemic, seeing their wealth soar 41%. UBS said this was "due to the corona-induced demand for their goods and services" and social distancing accelerating "digital businesses [and] compressing several years' evolution into a few months". Healthcare billionaires also benefited as the crisis put drug makers and medical device companies in the spotlight.
The world’s wealthiest individuals have become even richer during the coronavirus pandemic as the prices of financial assets have been supported by widespread policy intervention while employment and wages, well, not so much. The Institute for Policy Studies, a liberal think tank in Washington, chronicles just how bifurcated the road the recovery from an economy slump is likely to be. At the upper end of the spectrum, the combined wealth of all U.S. billionaires increased by $821 billion or 28% between March 18, 2020 and September 10, 2020, from approximately $2.947 trillion to $3.768 trillion. That means they own the equivalent of nearly 20% of U.S. gross domestic product. The richest five billionaires, Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett, and Elon Musk, saw a 59% increase in their total wealth, from $358 billion to $569 billion. One University of Chicago study found that, between the start of February and the end of June, the lowest-income group had the highest job loss rate while the highest-income workers had the [lowest] rate of lob losses. Black and Hispanic workers were also much more likely to become unemployed during the pandemic than Whites despite their predominant role in work deemed ... essential. As the pandemic forced many industries into remote work, millions of Black and Hispanic workers have been left out. “Only 19.7% of Black and 16.2% of Latinx people work in jobs where they are able to telework, compared to 29.9% of White and 37.0% of Asian workers,” the report said.
Almost alone in the Western world, the Swedes refused to impose a coronavirus lockdown last spring, as the country’s leading health officials argued that limited restrictions were sufficient and would better protect against economic collapse. For their part, the Swedes admit to making some mistakes, particularly in nursing homes, where the death toll was staggering. Indeed, comparative analyses show that Sweden’s death rate at the height of the pandemic in the spring far surpassed the rates in neighboring countries and was more protracted. (Others point out that Sweden’s overall death rate is comparable to that of the United States.) Now, though, the question is whether the country’s current low caseload, compared with sharp increases elsewhere, shows that it has found a sustainable balance, something that all Western countries are seeking eight months into the pandemic. With a population of 10.1 million, Sweden averaged just over 200 new cases a day for several weeks. The per capita rate is far lower than nearby Denmark or the Netherlands. Sweden is also doing far better ... than Spain, with 10,000 cases a day, and France, with 12,000. Some experts believe Sweden is now almost fully in control of the virus. “There are indications that the Swedes have gained an element of immunity to the disease, which, together with everything else they are doing to prevent the infection from spreading, is enough to keep the disease down,” Kim Sneppen, professor of biocomplexity at the Niels Bohr Institute ... said.
Note: For the 60 days from Aug. 15 to Oct. 14, Sweden (population 10 million) had a total of 124 coronavirus deaths according to official Johns Hopkins statistics. That's an average of just over two deaths a day with no lockdown or masks required. Compare that to California (population 33 million), which had 5,581 deaths in the same period. That's an average of over 90 deaths a day with lockdown and masks required. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.
The Trump administration has compared Operation Warp Speed's crash program to develop a COVID-19 vaccine to the Manhattan Project. And like the notoriously secretive government project to make the first atomic bomb, the details of Operation Warp Speed's work may take a long time to unravel. One reason is that Operation Warp Speed is issuing billions of dollars' worth of coronavirus vaccine contracts to companies through a nongovernment intermediary, bypassing the regulatory oversight and transparency of traditional federal contracting mechanisms, NPR has learned. Instead of entering into contracts directly with vaccine makers, more than $6 billion in Operation Warp Speed funding has been routed through a defense contract management firm called Advanced Technologies International, Inc. ATI then awarded contracts to companies working on COVID-19 vaccines. As a result, the contracts between the pharmaceutical companies and ATI may not be available through public records requests, and additional documents are exempt from public disclosure for five years. [Robin] Feldman, of UC Hastings, says the administration's comparison of Operation Warp Speed to the Manhattan Project is troubling. "I think that's completely the wrong image," she says. "The right analogy, I think, for Operation Warp Speed is the penicillin effort in World War II. We can do a lot of good together, but we have to make sure pharma companies aren't taking advantage of the crisis."
Note: Read an excellent article showing how most of these contracts are linked to the CIA and DHS and more. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus from reliable major media sources.
The Centers for Disease Control and Prevention was created to stop deadly pathogens. But 2020 has been a disaster for the CDC. The agency’s response to the worst public health crisis in a century - the coronavirus pandemic - has been marked by technical blunders and botched messaging. The agency has endured false accusations and interference by Trump administration political appointees. Worst of all, the CDC has experienced a loss of institutional credibility at a time when the nation desperately needs to know whom to trust. The stumbles started early in the pandemic, with the botched rollout of test kits suspected of being contaminated at a CDC lab in late January. But the agency’s most chronic problem has been the inability to speak directly and persuasively to the American public. That’s because it has been muzzled ... by political operatives. White House officials have pressured the CDC to change guidance over the last several months to align the guidelines more closely with the administration’s message that the pandemic is under control, federal health officials have said. Those actions include revised CDC guidance on mask-wearing and the reopening of religious institutions and schools. “Every big public health response has two components: the public health emergency and the political emergency,” said a CDC epidemiologist who spoke on the condition of anonymity out of fear of retaliation. “I never would have expected the level of political interference we’re seeing now. It’s so sad.”
The level of hunger in U.S. households almost tripled between 2019 and August of this year, according to an analysis of new data from the Census Bureau and the Department of Agriculture. Even more alarming, the proportion of American children who sometimes do not have enough to eat is now as much as 14 times higher than it was last year. The Agriculture Department conducts yearly studies on food insecurity in the U.S., with its report on 2019 released this month. The Census Bureau began frequent household surveys in April in response to Covid-19 that include questions about hunger. The analysis, by the Washington, D.C.-based Center on Budget and Policy Priorities, found that 3.7 percent of U.S. households reported they sometimes or often had “not enough to eat” during 2019. Meanwhile, the most recent Census data from the end of August of this year showed that 10 percent of households said they sometimes or often did not have enough to eat within the past seven days. Levels of food insecurity in Black and Latino households are significantly higher, at 19 percent and 17 percent, respectively, compared to 7 percent in white households. Remarkably, this increase in hunger has nothing to do with any actual shortage of food. It is purely the result of political decisions.
Note: How much is severe collateral damage like this from the coronavirus lockdown policies being considered? For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.
Finland has deployed coronavirus-sniffing dogs at the Nordic country’s main international airport in a four-month trial of an alternative testing method that could become a cost-friendly and quick way to identify infected travelers. Four dogs of different breeds trained by Finland’s Smell Detection Association started working Wednesday at the Helsinki Airport as part of the government-financed trial. “It’s a very promising method,” Anna Hielm-Bjorkman, a University of Helsinki ... said. “If it works, it will be a good (coronavirus) screening method at any other places,” she said, listing hospitals, ports, elderly people’s homes, sports venues and cultural events among the possible locations where trained dogs could put their snouts to work. Finland is the second country after the United Arab Emirates - and the first in Europe - to assign dogs to sniff out the coronavirus. Passengers who agree to take a free test under the voluntary program in Helsinki do not have direct physical contact with a dog. They are asked to swipe their skin with a wipe which is then put into a jar and given to a dog waiting in a separate booth. The participating animals - ET, Kossi, Miina and Valo - previously underwent training to detect cancer, diabetes or other diseases. It takes the dog a mere 10 seconds to sniff the virus samples before it gives the test result by scratching a paw, laying down, barking or otherwise making its conclusion known. The process should be completed within one minute, according to Hielm-Bjorkman.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
More states and countries are coming to the conclusion that COVID-19 lockdowns like those in China and New Zealand are overly restrictive and too costly. People in democracies will simply not tolerate them. Sweden has “flattened the curve” of COVID-19 without ordering its citizens to stay inside. It has kept open its shops, schools for those under 16, and restaurants and bars. Its health authorities trusted its citizens to wash their hands and social distance without imposing laws. Anders Tegnell, the Swedish epidemiologist [said,] “We see no point in wearing a face mask.” Swedish health authorities ... pride themselves on “following the science” and are highly respected. Sweden made a mistake ... when it, like the state of New York, sent recovering patients back to their nursing homes too soon (in the U.S., nursing home residents [and staff] account for ... 45% of COVID-19 fatalities). [Yet Swedish] schools stayed open with little risk to students. Studies from Sweden and the Netherlands ... have found teachers at no greater risk than the overall population. Sweden is approaching record lows while its European neighbors are seeing increasing rates. Sweden had about 30,000 new cases in June ... and was down to 7,000 new cases in August. During this time, cases took off in Spain, France and Germany. Sweden’s current rate of positive tests is lower than those in Norway and Denmark. [Its] economy will contract by about 4.6%. In contrast, the European Union economy is expected to contract 11.9%. The U.S. economy contracted at a 32.9% annual rate between April and June. New Zealand’s GDP contracted by 13.8% in the April-June period and has entered a recession, which Sweden has not.
Note: Explore a revealing article in the BMJ (formerly British Medical Journal) for more on Sweden's unusual success. This chart shows that Sweden is now doing much better on the number of COVID-19 cases and deaths per million than most other countries that have instituted a lockdown. Read a balanced, informative New York Times article written by a Swede about her experience there. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.
Millions of Americans have lost jobs during a pandemic that kept restaurants, shops and public institutions closed for months and hit the travel industry hard. While lower-wage workers have borne much of the brunt, the crisis is wreaking a particular kind of havoc on the debt-laden middle class. Before the pandemic, Americans had amassed $4.2 trillion in consumer debt, excluding mortgages, according to the Federal Reserve Bank of New York, a record even when adjusting for inflation. Housing debt added an additional $10 trillion to the tally. The coronavirus has spared few industries and expanded unemployment benefits designed to replace the average American income didn’t cover all the lost pay of higher-earning workers, especially in or near expensive cities. The extra $600 weekly payments expired in July, putting them even further behind. Unemployment has fallen from its pandemic peak of near 15%, but the rate stood at 8.4% in August, up from 3.5% in February, according to the Bureau of Labor Statistics. Unemployment for the arts, design, media, sports and entertainment was 12.7% in August, more than triple its year-earlier level. In education, it more than doubled to 10.2%. Sales and office unemployment was 7.8% in August, up from 3.8% in August 2019. It could get worse. Many people who have jobs are struggling with pay cuts. As of August, 17 million workers were getting paid less due to the pandemic. Some 9.5 million took pay cuts; the remaining 7.5 million are working fewer hours.
Note: You can find the full article available for free viewing on this webpage. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and income inequality from reliable major media sources.
AstraZeneca revealed details of its large coronavirus vaccine trials on Saturday, the third in a wave of rare disclosures by drug companies under pressure to be more transparent about how they are testing products that are the world’s best hope for ending the pandemic. Polls are finding Americans increasingly wary of accepting a coronavirus vaccine. Experts have been particularly concerned about AstraZeneca’s vaccine trials, which began in April in Britain, because of the company’s refusal to provide details about serious neurological illnesses in two participants, both women, who received its experimental vaccine in Britain. Those cases spurred the company to halt its trials twice, the second time earlier this month. The studies have resumed in Britain, Brazil, India and South Africa, but are still on pause in the U.S. About 18,000 people worldwide have received AstraZeneca’s vaccine so far. The company has released few details about the two cases of serious illness in its trial. The first participant received one dose of the vaccine before developing inflammation of the spinal cord, known as transverse myelitis. The condition can cause weakness in the arms and legs, paralysis, pain and bowel and bladder problems. The company said it had not confirmed a diagnosis in the second case, a participant who got sick after the second dose of the vaccine. A person familiar with the situation who spoke with The Times on the condition of anonymity said the participant’s illness had been pinpointed as transverse myelitis.
Note: Why won’t the company let the two who became seriously ill speak to the media? And why initially did they hide the fact that the illnesses were serious? And why are top vaccine executives now dumping their shares of stocks? For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.
Nashville officials reportedly concealed the low number of COVID-19 cases deriving from bars and restaurants in the city, according to emails between the Metro Health Department and Mayor John Cooper's office. On June 30, contact tracing found that construction and nursing homes were the cause of most Nashville coronavirus cases with thousands traced back to those specific categories. Only 22 cases were traced back to bars and restaurants. In the series of emails obtained by FOX 17 News, a discussion between the two offices about how to conceal the number associated with restaurants and bars from the public was shown. "This isn't going to be publicly released, right? Just info for Mayor's Office?" wrote Leslie Waller from the health department. Senior Advisor Benjamin Eagles responded: "Correct, not for public consumption." A month later ... reporter Nate Rau asked the health department about rumors circulating that only 80 cases resulted from the city's bars and restaurants. Rau asked: "The figure you gave of 'more than 80' does lead to a natural question: If there have been over 20,000 positive cases of COVID-19 in Davidson and only 80 or so are traced to restaurants and bars, doesn't that mean restaurants and bars aren't a very big problem?" "We raised taxes 34 percent and put ... literally thousands of people out of work that are now worried about losing their homes, their apartments ... and we did it on bogus data. That should be illegal," [Nashville Councilman Steve] Glover told FOX 17 News.
While many European countries are seeing new cases surge to levels not seen since the peak of the Covid-19 pandemic, Sweden – whose light-touch approach has made it an international outlier – has one of the continent’s lowest infection rates. According to the European Centre for Disease Prevention and Control (ECDC), [its] 14-day cumulative total of new cases was 22.2 per 100,000 inhabitants on Tuesday, against 279 in Spain, 158.5 in France, 118 in the Czech Republic, 77 in Belgium and 59 in the UK, all of which imposed lockdowns this spring. Sweden also has fewer new daily infections than Norway and Denmark. Thirteen Covid-19 patients are in intensive care in Swedish hospitals, and its seven-day average of coronavirus-related deaths is zero. “We don’t have the resurgence of the disease that many countries have,” Anders Tegnell, the country’s chief epidemiologist [said] in an interview, adding that the country was broadly happy with its overall strategy. Unlike many countries, Sweden closed schools for the over-16s but kept those for younger pupils open. Schools and universities are now open again. It also banned gatherings of more than 50 people and told people over 70 and in at-risk groups to self-isolate. Otherwise, the population of 10 million was asked, rather than ordered, to respect physical distancing and work from home if possible. Shops, bars, restaurants and gyms stayed open and the wearing of masks has not so far been recommended. Tegnell has insisted the aim was not to achieve rapid herd immunity but to slow the spread of coronavirus enough for health services to be able to cope.
Note: A Swedish MD on the front lines shares thoughts on why Sweden's COVID death rate has been in the single digits for weeks. Read a balanced, informative New York Times article written by a Swede about her experience there. This graph shows that Sweden is doing well compared to other countries considering that they have not instituted a lockdown. For more, see concise summaries of revealing news articles on the coronavirus from major media sources.
Media portrayals of adolescence shape how society views young people and, as positive youth development scholars note, whether they are seen as risks to be managed or resources to be developed. My own research on adolescent mindfulness and virtue inspired me to learn more about how adolescents are faring during the pandemic. Zoya Sethi is a ninth grader from Delhi, India. She and four of her friends observed that after the shutdown of industries in the cities, millions migrated hundreds of kilometers by foot back to their villages, and women had no access to feminine hygiene pads. In response, they began a campaign through Instagram (@we_standwithher). Lucas Hung is a 12th grader from Vancouver, British Columbia. He and four friends similarly used Instagram to raise funds for those in need, with the dual goal of uniting their classmates (@_viralcause_) The teens also found meaning in smaller acts of service that filled critical needs in their communities. “It was so cool to see that something as small as offering to teach a 40-minute online dance class to their kids could make parents’ lives so much better,” explained Devyn Slade, a 12th grade volunteer dance instructor. Teens also empathized with the plight of seniors in retirement communities. One group wrote letters to older adults, “trying to make them feel connected, seen, and loved during this time where they’re facing tons of isolation and fear and hard times,” said Connor Macmillan, a 12th grade water polo player.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Whether the coronavirus vaccine developed by Moderna succeeds or not, executives at the small biotech company have already made tens of millions of dollars by cashing in their stock. An NPR examination of official company disclosures has revealed additional irregularities and potential warning signs. Since January, CEO Stéphane Bancel has sold roughly $40 million worth of Moderna stock; Chief Medical Officer Tal Zaks has sold around $60 million; and President Stephen Hoge has sold more than $10 million. The stock sales first came to widespread notice after Moderna announced positive early data from a vaccine trial in May. At that point, the company's share price jumped and official disclosures showed executives cashing in their shares for millions of dollars. Advocates have questioned whether it's appropriate for executives to privately profit before bringing the vaccine to market, especially when American taxpayers have committed roughly $2.5 billion to the company's vaccine development. Moderna says its executives pre-scheduled their stock sales long in advance. Those schedules - known as 10b5-1 plans - can act as a defense to charges of insider trading. But the plans have to be put in place when executives do not have confidential inside information. NPR has found multiple executives adopted or modified their plans just before key announcements about the company's vaccine. That has raised questions about whether they were aware of nonpublic information when they planned their stock trades.
Note: Explore a revealing NBC article titled “Secret, powerful panels will pick Covid-19 vaccine winners.” For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.
Some of the nation’s leading public health experts are raising a new concern in the endless debate over coronavirus testing in the United States: The standard tests are diagnosing huge numbers of people who may be carrying relatively insignificant amounts of the virus. Most of these people are not likely to be contagious. The most widely used diagnostic test for the new coronavirus, called a PCR test, provides a simple yes-no answer to the question of whether a patient is infected. “We’ve been using one type of data for everything, and that is just plus or minus — that’s all,” [epidemiologist Dr. Michael] Mina said. “We’re using that for clinical diagnostics, for public health, for policy decision-making.” But yes-no isn’t good enough, he added. It’s the amount of virus that should dictate the infected patient’s next steps. The PCR test amplifies genetic matter from the virus in cycles; the fewer cycles required, the greater the amount of virus, or viral load, in the sample. The greater the viral load, the more likely the patient is to be contagious. This number of amplification cycles needed to find the virus, called the cycle threshold, is never included in the results sent to doctors and coronavirus patients, although it could tell them how infectious the patients are. In three sets of testing data that include cycle thresholds, compiled by officials in Massachusetts, New York and Nevada, up to 90 percent of people testing positive carried barely any virus, a review by The Times found.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.
In response to the novel and deadly coronavirus, many governments deployed draconian tactics never used in modern times: severe and broad restrictions on daily activity that helped send the world into its deepest peacetime slump since the Great Depression. The equivalent of 400 million jobs have been lost world-wide, 13 million in the U.S. alone. Global output is on track to fall 5% this year, far worse than during the financial crisis. Despite this steep price, few policy makers felt they had a choice, seeing the economic crisis as a side effect of the health crisis. They ordered nonessential businesses closed and told people to stay home, all without the extensive analysis of benefits and risks that usually precedes a new medical treatment. Five months later, the evidence suggests lockdowns were an overly blunt and economically costly tool. The evidence also points to alternative strategies that could slow the spread of the epidemic at much less cost. Taiwan, South Korea and Hong Kong set early examples of how to stop Covid-19 without lockdowns. They quickly cut travel to China, introduced widespread testing to isolate the infected and traced contacts. Sweden took a different approach. Instead of lockdowns, it imposed only modest restrictions to keep cases at levels its hospitals could handle. Sweden has suffered more deaths per capita than neighboring Denmark but fewer than Britain, and it has paid less of an economic price than either.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.
U.S. stocks are hovering near a record high, a stunning comeback since March that underscores the new phase the economy has entered: The wealthy have mostly recovered. The bottom half remain far from it. Jobs are fully back for the highest wage earners, but fewer than half the jobs lost this spring have returned for those making less than $20 an hour. The pandemic is causing especially large gaps between rich and poor, and between White and minority households. It is also widening the gap between big and small businesses. Some of the largest companies, such as Nike and Best Buy, are enjoying their highest stock prices ever while many smaller businesses fight for survival. Some economists have started to call this a “K-shaped” recovery because of the diverging prospects for the rich and poor, and they say policy failures in Washington are exacerbating the problems. For many of the unemployed, the downturn is lasting far longer than they had anticipated. Nearly 80 percent of furloughed or laid-off workers thought they would be rehired, a Washington Post-Ipsos poll conducted April 27-May 4 found. Yet so far, only 42 percent of jobs have returned. “This has been a very clear K-shaped recovery,” says Peter Atwater ... at the College of William & Mary. “The biggest and wealthiest have been on a clear path toward recovery. Meanwhile, for most small businesses and those worst off, things have only become worse. The contrast is piercing: One group feels better than ever while the other borders on hopelessness.”
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.