Media ArticlesExcerpts of Key Media Articles in Major Media
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.
The economic debate of the day centers on whether the cure of an economic shutdown is worse than the disease of the virus. Similarly, we need to ask if the cure of the Federal Reserve getting so deeply into corporate bonds, asset-backed securities, commercial paper, and exchange-traded funds is worse than the disease seizing financial markets. It may be. In just these past few weeks, the Fed has cut rates by 150 basis points to near zero and run through its entire 2008 crisis handbook. That wasn’t enough to calm markets, though — so the central bank also announced $1 trillion a day in repurchase agreements and unlimited quantitative easing, which includes a hard-to-understand $625 billion of bond buying a week going forward. At this rate, the Fed will own two-thirds of the Treasury market in a year. But it’s the alphabet soup of new programs that deserve special consideration, as they could have profound long-term consequences. The federal government is nationalizing large swaths of the financial markets. The Fed is providing the money to do it. If these acronym programs were abused ... they might indeed force markets higher than valuation warrants. But it would come with a heavy price. Investors would be deprived of the necessary market signals that freely traded capital markets offer to aid in the efficient allocation of capital. Malinvestment would be rampant. It also could force private sector players to leave as the government’s heavy hand makes operating in “controlled” markets uneconomic.
Professor Neil Ferguson ... produced a paper predicting that Britain was on course to lose 250,000 people during the coronavirus epidemic. His research is said to have convinced Prime Minister Boris Johnson and his advisors to introduce the lockdown. Ferguson has been criticised in the past for making predictions based on allegedly faulty assumptions which nevertheless shaped government strategies. He was behind disputed research that sparked the mass culling of farm animals during the 2001 epidemic of foot and mouth disease ... which ultimately led to the deaths of more than six million cattle, sheep and pigs. The cost to the economy was later estimated at Ł10 billion. A 2011 paper ... found that the government ordered the destruction of millions of animals because of "severely flawed" modelling. And separately he also predicted that up to 150,000 people could die from bovine spongiform encephalopathy (BSE, or 'mad cow disease'). [One] report stated: "The mathematical models were, at best, crude estimations." It also described a febrile atmosphere – reminiscent of recent weeks – and claimed that this allowed mathematical modellers to shape government policy. To date there have been fewer than 200 deaths from the human form of BSE. Scientists warned ... about the dangers in making sweeping political judgments based on mathematical modelling which may be flawed. Michael Thrusfield, professor of veterinary epidemiology ... described his sense of "déjŕ vu" when he read Mr Ferguson's Imperial College paper on coronavirus. Others have directly criticised the methodology employed by Ferguson and his team in their coronavirus study.
Note: This informative article shows predictions of 40,000 dead in Sweden by early May using Ferguson's model were way off. As of May 10th, Sweden had registered 3,225 deaths. A review of his deeply flawed code is available here. This MSN article further reveals that Ferguson blatantly violated his own restrictions by seeing a married lover shortly after the UK lockdown was instituted. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.
A shouting match broke out in the White House Situation Room between Health and Human Services Secretary Alex Azar and an Office of Management and Budget official. Azar had asked OMB ... for $2 billion to buy respirator masks and other supplies for a depleted federal stockpile of emergency medical equipment. The relief package enacted Friday secured $16 billion for the Strategic National Stockpile. States desperate for materials from the stockpile are encountering a beleaguered system beset by years of underfunding, changing lines of authority, confusion over the allocation of supplies and a lack of transparency from the administration. The stockpile holds masks, drugs, ventilators and other items in secret sites around the country. It has become a source of growing frustration for many state and hospital officials who are having trouble buying — or even locating — crucial equipment on their own. Massachusetts ... has received 17 percent of the protective gear it requested. Maine requested a half-million N95 specialized protective masks and received 25,558 — about 5 percent of what it sought. Florida has been an exception in its dealings with the stockpile: The state submitted a request on March 11 for 430,000 surgical masks, 180,000 N95 respirators, 82,000 face shields and 238,000 gloves, among other supplies — and received a shipment with everything three days later. President Trump repeatedly has warned states not to complain about how much they are receiving.
Note: This 2018 Washington Post article raises many questions about the secret U.S. stockpile. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus pandemic from reliable major media sources.
How was Congress able to come up with $2 trillion so quickly? Where is the money coming from? On Friday, the House of Representatives, led by Speaker Nancy Pelosi ... waved away that question, preparing to rubber-stamp a $2 trillion Senate package aimed at staving off economic collapse. The details of the legislation — particularly the $500 billion, strings-optional corporate slush fund — may be shameful ... but the moment is instructive ... as it became clear that concerns about deficits and revenue had evaporated. Congress has ignored millions of people who have existed in a state of crisis for decades. The people of Flint, Michigan, (and elsewhere) still do not have safe drinking water. Millions of kids go hungry each day. There has been no multitrillion-dollar spending bill to combat these and other domestic emergencies. Instead, lawmakers have deprived communities of critical investments that could have attenuated their emergencies, often hiding behind the excuse that there isn’t enough money in the budget to deal with problems like these. Congress is doing now what it could always have done. Uncle Sam can’t run out of dollars. The U.S. government is the issuer of our currency — the U.S. dollar — which means that ... it can never find itself in a situation in which it has bills coming due that it can’t afford to pay. If the votes are there, the money can always be made available. When all of this is behind us, to the extent that it ever can be, let’s not forget what we’ve learned.
Note: The entire article at the link above raises important questions about why Congress hasn't made more money available in the past for much needed support of a variety of important programs. The author, Stephanie Kelton, served as the chief economist for Democrats on the U.S. Senate Budget Committee. For more along these lines, see concise summaries of deeply revealing news articles on banking and financial corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Banking Corruption Information Center.
I am writing to you from Italy, which means I am writing from your future. We are now where you will be in a few days. As we watch you from here, from your future, we know that many of you, as you were told to lock yourselves up into your homes, quoted Orwell, some even Hobbes. But soon you’ll be too busy for that. First of all, you’ll eat. Not just because it will be one of the few last things that you can still do. Old resentments and falling-outs will seem irrelevant. You will call people you had sworn never to talk to ever again, so as to ask them: “How are you doing?” You’ll laugh. You’ll laugh a lot. You’ll flaunt a gallows humour you never had before. Even people who’ve always taken everything dead seriously will contemplate the absurdity of life, of the universe and of it all. You will count all the things you do not need. The true nature of the people around you will be revealed with total clarity. You will have confirmations and surprises. Those who invite you to see all this mess as an opportunity for planetary renewal will help you to put things in a larger perspective. You will also find them terribly annoying: nice, the planet is breathing better because of the halved CO2 emissions, but how will you pay your bills next month? You will not understand if witnessing the birth of a new world is more a grandiose or a miserable affair. You will play music from your windows and lawns. When you saw us singing opera from our balconies, you thought “ah, those Italians”. But we know you will sing uplifting songs to each other too.
Note: The above was written by acclaimed Italian novelist Francesca Melandri. Note that the number of people dying from the coronavirus in Italy has been gradually decreasing since it peaked on March 26th. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The ozone layer is continuing to heal and has the potential to fully recover, according to a new study. A scientific paper, published in Nature, heralds a rare success in the reversal of environmental damage and shows that orchestrated global action can make a difference. The ozone layer is a protective shield in the Earth’s stratosphere which absorbs most of the ultraviolet radiation reaching us from the sun. Antara Banerjee ... is lead author of the study. She told The Independent: “We found signs of climate changes in the southern hemisphere, specifically in the air circulation patterns. The challenge was showing that these changing air circulation patterns were due to the shrinking ozone hole following the implementation of the Montreal Protocol. The jet stream in the southern hemisphere was gradually shifting towards the south pole in the last decades of the 20th century due to ozone depletion. Our study found that movement has stopped since 2000 and might even be reversing. The pause in movement began around the same time that the ozone hole started to recover. The emissions of ozone-depleting substances that were responsible for the ozone hole - the CFCs from spray cans and refrigerants – started to decline around 2000, thanks to the Montreal Protocol.” Overall, it is good news for the fight against climate change. She added: “It shows that this international treaty has worked and we can reverse the damage that we’ve already done to our planet. That’s a lesson to us all.”
The latest threat to global health is the ongoing outbreak of the respiratory disease that was recently given the name Coronavirus Disease 2019 (Covid-19). The Covid-19 outbreak has posed critical challenges for the public health, research, and medical communities. In their Journal article, Li and colleagues provide a detailed clinical and epidemiologic description of the first 425 cases reported in the epicenter of the outbreak: the city of Wuhan in Hubei province, China. A degree of clarity is emerging from this report. The median age of the patients was 59 years, with higher morbidity and mortality among the elderly and among those with coexisting conditions (similar to the situation with influenza). Of note, there were no cases in children younger than 15 years of age. Li et al. report a mean interval of 9.1 to 12.5 days between the onset of illness and hospitalization. On the basis of a case definition requiring a diagnosis of pneumonia, the currently reported case fatality rate is approximately 2%. In another article in the Journal, Guan et al. report mortality of 1.4% among 1099 patients with laboratory-confirmed Covid-19; these patients had a wide spectrum of disease severity. If one assumes that the number of asymptomatic or minimally symptomatic cases is several times as high as the number of reported cases, the case fatality rate may be considerably less than 1%. This suggests that the overall clinical consequences of Covid-19 may ultimately be more akin to those of a severe seasonal influenza (which has a case fatality rate of approximately 0.1%) or a pandemic influenza (similar to those in 1957 and 1968) rather than a disease similar to SARS or MERS, which have had case fatality rates of 9 to 10% and 36%, respectively.
Note: The main author of this article, Anthony S. Fauci, is the director of the U.S. National Institute of Allergy and Infectious Diseases. Consider the research of 12 other experts questioning the coronavirus panic. Explore also this excellent article which covers key, vitally important aspects of this pandemic that few have considered. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus pandemic from reliable major media sources.
The Environmental Protection Agency on Thursday announced a sweeping relaxation of environmental rules in response to the coronavirus pandemic, allowing power plants, factories and other facilities to determine for themselves if they are able to meet legal requirements on reporting air and water pollution. The move comes amid an influx of requests from businesses for a relaxation of regulations as they face layoffs, personnel restrictions and other problems related to the coronavirus outbreak. Issued by the E.P.A.’s top compliance official, Susan P. Bodine, the policy sets new guidelines for companies to monitor themselves for an undetermined period of time during the outbreak and says that the agency will not issue fines for violations of certain air, water and hazardous-waste-reporting requirements. Companies are normally required to report when their factories discharge certain levels of pollution. The order asks companies to “act responsibly” if they cannot ... monitor or report the release of hazardous air pollution. Businesses, it said, should “minimize the effects and duration of any noncompliance” and keep records to report to the agency how Covid-19 restrictions prevented them from meeting pollution rules. Gina McCarthy, who led the E.P.A. under the Obama administration ... called it “an open license to pollute.” She said that while individual companies might need flexibility, “this brazen directive is nothing short of an abject abdication of the E.P.A. mission to protect our well being.”
Coronavirus has hit companies hard and fast over the past several weeks — prompting calls for industry bailouts and dramatic measures to cut costs. Among the steps some major corporations are taking to mitigate the consequences of the outbreak are pay cuts to CEOs and other top executives. Executive pay cuts alone aren't likely to have a significant impact on companies' bottom lines or provide a boost to lower-paid employees further down the org chart. But they send an important message. Airlines and travel companies, one of the industries hit hardest by the outbreak early on, were among the first to take such a step, including Delta (DAL), Alaska (ALK), United Airlines (UAL) and others, which all announced CEO pay cuts, and other executive compensation reductions. Marriott (MAR), the world's largest hotel chain, said last week that CEO Arne Sorenson will not take home any salary for the rest of the year, and the rest of the executive team will take a 50% pay cut. The announcement came at the same time that the company said it would begin furloughing what could be tens of thousands of hotel workers, from housekeepers to general managers. On Wednesday, Dick's Sporting Goods (DKS) also announced its CEO Ed Stack and President Lauren Hobart will forgo their salaries, except for an amount covering company-provided benefits. The company's other named executive officers will take a 50% reduction in base salary. Other companies, including Ford (F), GE (GESLX) and Lyft (LYFT) have taken similar steps.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The amount of money spent in one year by the U.S. on nuclear weapons could instead provide 300,000 ICU (intensive care unit) beds, 35,000 ventilators and 75,000 doctors' salaries, according to the International Campaign to Abolish Nuclear Weapons (ICAN) - a "coalition of non-government organizations promoting adherence to and implementation of the UN [United Nations} nuclear weapon ban treaty." In its recent report, the group stated that, according to armscontrol.org, the U.S. spent $35.1 billion on nuclear weapons in 2019. As the number of confirmed COVID-19 cases increases, more resources are required. The shortage of ventilators in U.S. hospitals has ... been a major issue during the coronavirus pandemic. During a recent interview with Vox, Dr. Tom Freiden, former head of the Centers for Disease Control and Prevention (CDC), stated that "in the worst-case scenario, in which there is an exponential surge in COVID-19 cases, the need for ventilators could greatly outstrip the number available." In addition to the shortage, the cost of the ventilators has also become a problem for hospitals. They can cost between $25,000 to $50,000 and require very skilled people to run them. The report published by ICAN also touches on the nuclear spending costs of the United Kingdom and France. For instance, France spent around $4.9 million on nuclear weapons in 2019. This amount ... would translate to 100,000 ICU beds, 10,000 ventilators and the salaries of 20,000 French nurses and 10,000 French doctors.
Note: Read this Washington Post article about a secret stockpile which could be used now. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
Our Attorney General submitted a proposal last week that would dramatically erode our civil liberties. Among other things, the proposal suspends habeas corpus ... or the right to appear before a judge before being detained. That right is enshrined in our Constitution and without it, Barr could hold Americans indefinitely without a trial. Our justice system is grounded in an unwavering guarantee that each one of us is entitled to certain inalienable rights, including the right to due process before one's freedom is taken away. On March 13, the President declared a national emergency, which unlocked special powers to keep our country safe. Congress has enacted roughly 120 laws that allow presidents such powers to meet precisely these types of threats while maintaining our democracy. These laws are not without limits. Nor were they meant to be used to capitalize on fear to unnecessarily erode our freedoms. Yet while the world is consumed by this pandemic and when he thought no one was watching, Attorney General William Barr proposed granting himself immense, permanent powers extending far past the needs posed by this threat. For example, the proposal grants Barr personally the power to ask any chief judge to hold a citizen, "whenever the district court is fully or partially closed by virtue of any natural disaster, civil disobedience, or other emergency situation." If this were about COVID-19, the proposal would suspend only certain rights narrowly tailored to fighting this disease.
Note: This New York Times article details how autocrats around the world are using the fear generated to grab power. Read another highly informative article on how this crisis is being exploited to grab power. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic and the erosion of civil liberties from reliable major media sources.
Fear of Covid-19 is based on its high estimated case fatality rate—2% to 4% ... according to the World Health Organization and others. We believe that estimate is deeply flawed. There’s little evidence to confirm that premise—and projections of the death toll could plausibly be orders of magnitude too high. The true fatality rate is the portion of those infected who die, not the deaths from identified positive cases. The latter rate is misleading because of selection bias in testing. The degree of bias ... could make the difference between an epidemic that kills 20,000 and one that kills two million [in the U.S.]. First, the test used to identify cases doesn’t catch people who were infected and recovered. Second, testing rates were woefully low for a long time and typically reserved for the severely ill. Together, these facts imply that the confirmed cases are likely orders of magnitude less than the true number of infections. Epidemiological modelers haven’t adequately adapted their estimates to account for these factors. This does not make Covid-19 a nonissue. The daily reports from Italy and across the U.S. show real struggles and overwhelmed health systems. But a 20,000- or 40,000-death epidemic is a far less severe problem than one that kills two million. Given the enormous consequences of decisions around Covid-19 response, getting clear data to guide decisions now is critical. We don’t know the true infection rate in the U.S. If we’re right about the limited scale of the epidemic, then measures focused on older populations and hospitals are sensible. A universal quarantine may not be worth the costs it imposes on the economy, community and individual mental and physical health.
Note: Authors Dr. Bendavid and Dr. Bhattacharya are professors of medicine at Stanford. The Wall Street Journal charges non-subscribers to read more than the first two paragraphs of this article. You may find it well worth your time to read the entire article free on this webpage. Explore also this excellent article the covers key, vitally important aspects of this pandemic that few have considered. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus pandemic from reliable major media sources.
A series of missteps at the nation's top public health agency caused a critical shortage of reliable laboratory tests for the coronavirus. President Donald Trump assured Americans early this month that the COVID-19 test developed by the Centers for Disease Control and Prevention is "perfect" and that "anyone who wants a test can get a test." But more than two months after the first U.S. case of the new disease was confirmed, many people still cannot get tested. Four primary issues ... hampered the national response — the early decision not to use the test adopted by the World Health Organization, flaws with the more complex test developed by the CDC, government guidelines restricting who could be tested and delays in engaging the private sector to ramp up testing capacity. By mid-February, only about a half-dozen state and local public health labs had reliable tests. But still, CDC Director Dr. Robert Redfield continued to insist his agency had developed "a very accurate test." "We found that, in some of the states, it didn't work," Redfield said earlier this month. As more sick people sought to be tested, many states were forced to limit access because of the flawed CDC test. Accounts began to emerge ... of people with all the symptoms of COVID-19 who either couldn't get tested or had test results delayed. On Feb. 29, only 472 patients had been tested nationwide, with just 22 cases confirmed, according to CDC data. By comparison, South Korea ... mobilized to test more than 20,000 people a day.
Note: Explore a ZeroHedge article titled "Whistleblower: How CDC Is Manipulating The COVID-19 Death-Toll." A BMJ article titled "Covid-19: four fifths of cases are asymptomatic, China figures indicate" quotes one epidemiologist as asking "What the hell are we locking down for?" For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
A model predicting the progression of the novel coronavirus pandemic produced by researchers at Imperial College London set off alarms across the world and was a major factor in several governments' decisions to lock things down. But a new model from Oxford University is challenging its accuracy. The Oxford research suggests the pandemic is in a later stage than previously thought and estimates the virus has already infected at least millions of people worldwide. In the United Kingdom, which the study focuses on, half the population would have already been infected. If accurate, that would mean transmission began around mid-January and the vast majority of cases presented mild or no symptoms. The head of the study, professor Sunetra Gupta, an Oxford theoretical epidemiologist, said she still supports the U.K.'s decision to shut down the country to suppress the virus. But she also doesn't appear to be a big fan of the work done by the Imperial College team. If her work is accurate, that would likely mean a large swath of the population has built up resistance to the virus. Theoretically, then, social restrictions could ease sooner than anticipated. What needs to be done now, Gupta said, is a whole lot of antibody testing to figure out who may have contracted the virus. Her research team is working with groups from the University of Cambridge and the University of Kent to start those tests for the general population as quickly as possible.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
My adulthood has been punctuated by severe national emergencies. The first my generation experienced was the terrorist attack on September 11, 2001. The government quickly responded by attempting to achieve two things: one, expanding executive power, and two, transferring public wealth into private corporations. The second national emergency my generation experienced was the 2008 housing bubble collapse and subsequent recession. Again the federal government ... sought to exploit the crisis to move vast wealth from the public treasury into private bank accounts. A staggering $14tn was transferred from taxpayers to private hands. [The] latest iteration is the Covid-19 pandemic. Once again, the federal government appears poised to exploit this emergency to expand executive power and move wealth from the public treasury into private bank accounts. As we witnessed with the authoritarian reactions to 9/11, emergency violations of civil liberties are not easily rolled back, and often aggregate over time. In the wake of 9/11, Congress passed the National Defense Authorization Act, which gave sweeping powers to the executive branch. In 2012, Obama signed an expanded version into law, which gave the president the power to “hold individuals, including US citizens, in military detention indefinitely”, which means for life. We must reject such authoritarian measures wholly.
Before the coronavirus virus crushed the US stock market, the Republican senator Richard Burr apparently used information he gleaned from his role as chairman of the Senate intelligence committee about the ferocity of the coming pandemic to unload 33 stocks held by him and his spouse. They were estimated at being worth between $628,033 and $1.72m. While publicly parroting Trump’s happy talk at the time, Burr confided to several of his political funders that the disease would be comparable to the deadly 1918 flu pandemic. When society faces a common threat, exploiting a special advantage is morally repugnant. Call it “Burring”. The coronavirus should have altered business as usual. But last week’s Senate Republican relief package, giving airlines $58bn and billions more to other industries, is pure Burring. Walmart, the largest employer in America, doesn’t give its employees paid sick leave. 88% of Walmart employees report sometimes coming to work when sick. None of the giants of the fast-food industry – McDonald’s, Burger King, Pizza Hut, Duncan Donuts, Wendy’s, Taco Bell, Subway – gives their workers paid sick leave, either. Amazon, one of the richest corporations in the world, which paid almost no taxes last year, is offering unpaid time off for workers who are sick. These corporations have made sure they and other companies with more than 500 employees are exempt from the requirement in the House coronavirus bill that employers provide paid sick leave.
Note: Read a New York Times article for further information on how Senator Burr, the head of the US Senate Intelligence Committee, after being briefed of impending disaster, unloaded $1 million in investments while telling the public everything was fine. Read an article in The Atlantic showing how the Coronavirus is giving the world's leaders a rich opportunity for a power grab. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
The new NextSeq 550 sequencing machine at UCSF’s clinical lab on Berry Street looks like a microwave with a computer keyboard, but to microbiologist Charles Chiu, it is the key to California’s fight against the deadliest, most invasive virus to strike humanity in decades. The professor of medicine at UCSF will be using the black contraption ... to sequence the genomes of the viruses infecting hundreds of COVID-19 patients in the Bay Area during the next few weeks. Chiu ... is one of the top infectious disease specialists in the world. He has assembled an expert team of scientists ... to find critical clues about where the viral outbreaks in the Bay Area came from and how quickly the disease is spreading. He has already analyzed nine samples from the more than two dozen passengers who tested positive for the coronavirus on the Grand Princess cruise ship and is close to pinpointing the origin of those cases. “Those sequences belong in the same cluster as the infection in Washington state,” Chiu said. “They really suggest a link between Washington state and California.” Chiu said tracking the spread of the virus through genetics is possible because coronaviruses are known to have one to two mutations per month, allowing genomic sequencing to track a particular strain back to its origin. The rate of mutation in coronaviruses is much slower than it is with the influenza virus, which averages about eight to 10 mutations per month.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
Michael Levitt, a Nobel laureate and Stanford biophysicist, began analyzing the number of COVID-19 cases worldwide in January and correctly calculated that China would get through the worst of its coronavirus outbreak long before many health experts had predicted. Now he foresees a similar outcome in the United States and the rest of the world. While many epidemiologists are warning of months, or even years, of massive social disruption and millions of deaths, Levitt says the data simply don’t support such a dire scenario — especially in areas where reasonable social distancing measures are in place. “What we need is to control the panic,” he said. In the grand scheme, “we’re going to be fine.” Here’s what Levitt noticed in China: On Jan. 31, the country had 46 new deaths due to the novel coronavirus, compared with 42 new deaths the day before. Although the number of daily deaths had increased, the rate of that increase had begun to ease off. It was an early sign that the trajectory of the outbreak had shifted. “This suggests that the rate of increase in the number of deaths will slow down even more over the next week,” Levitt wrote. He predicted that the total number of confirmed COVID-19 cases in China would end up around 80,000, with about 3,250 deaths. This forecast turned out to be remarkably accurate. Now Levitt ... is seeing similar turning points in other nations. He analyzed data from 78 countries that reported more than 50 new cases of COVID-19 every day and sees “signs of recovery” in many of them.
Note: Consider the research of 12 other experts questioning the coronavirus panic. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
When this public health crisis first morphed into a financial one as well, the Federal Reserve sprang into action, pouring trillions of dollars into the financial system in less than a week; providing short-term loans to banks; slashing a key interest rate virtually to zero; announcing that the Fed would begin buying $700 billion worth of U.S. government bonds and mortgage-backed securities. The Fed gave itself the authority to purchase up to $1 trillion in commercial paper to support the flow of credit. An eight-second video from 2009 [shows] Ben Bernanke, the Fed chair at the time, explaining how the central bank comes up with the money to pull off these trillion-dollar maneuvers. “It’s not tax money,” Mr. Bernanke explained on “60 Minutes.” “We simply use the computer to mark up the size of the account.” Heads exploded. Many people replying to the tweet complained that we’re ... coming to the rescue of Wall Street instead of Main Street. “If the Fed can do this for the banks,” they wondered, “why can’t we find the money to pay for programs that would improve life for everyday Americans?” When called upon, the same computer that works for large banks is there for Main Street as well. But the Federal Reserve needs specific instructions before typing up dollars for the rest of us. Those instructions come in the form of legislation: When a bill becomes a law, the government is, in essence, telling the Fed how many dollars it is ordering up.
The Trump Department of Justice has asked Congress to craft legislation allowing chief judges to indefinitely hold people without trial and suspend other constitutionally-protected rights during coronavirus and other emergencies, according to a report by Politico. The DOJ has requested Congress allow any chief judge of a district court to pause court proceedings “whenever the district court is fully or partially closed by virtue of any natural disaster, civil disobedience, or other emergency situation,” according to draft language obtained by Politico. This would be applicable to “any statutes or rules of procedure otherwise affecting pre-arrest, post-arrest, pre-trial, trial, and post-trial procedures in criminal and juvenile proceedings and all civil processes and proceedings.” But the Constitution grants citizens habeas corpus which gives arrestees the right to appear in front of a judge and ask to be released before trial. Enacting legislation like the DOJ wants would essentially suspend habeas corpus indefinitely until the emergency ended. Further, DOJ asked Congress to suspend the statute of limitations on criminal investigations and civil proceedings during the emergency until a year after it ended. That means you could be arrested and never brought before a judge until they decide that the emergency or the civil disobedience is over. The DOJ ... also asked Congress to pass a law saying that immigrants who test positive for COVID-19 cannot qualify as asylum seekers.
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.