Year: 2020

Wuhan panic destroys flower business worldwide

1:31 pm

The beatings will continue until morale improves: The worldwide panic over the Wuhan flu has in one month practically destroyed the $8.5 billion flower/bouquet industry.

Much of the crash has been caused by customers themselves cancelling weddings and events, but that process has been accelerated and promoted by the decision of governors to put their states under house arrest.

Within a few days, all of [flower seller Laura] Clare’s clients planning April weddings were scrambling to pick dates in the fall. She had to tell brides that some flowers, such as cherry blossoms, might not be available then. Soon, as the number of Covid-19 cases in New Jersey passed 1,000, the governor ordered all but essential businesses to close. Florists didn’t make the cut.

With her supply wilting, Clare started giving bouquets away, delivering some to older parishioners at a local church. She furloughed her five full-time employees and canceled her flower orders, which usually total at least $5,000 a week. She’s applying for a Small Business Administration loan that would let her put her workers back on the payroll. “I’ve been through 9/11,” Clare says. “I’ve been through Hurricane Irene, Hurricane Sandy. I’ve never seen anything like this before.”

As with all the closures, the cancellations send disaster in waves throughout the economy. Event venues are now shuttered, their employees facing unemployment. Caterers have no work. Photographers, bakers, clothing designers, everyone involved in this industry is now facing bankruptcy and a crash that they will not recover from for months to years, if ever.

When it comes to something like the Wuhan virus, rational people do a cost-benefit analysis and apply some common sense. It makes no sense to destroy the entire worldwide economy because of a disease that is not going to be much worse than a typical flu season, especially because like the flu COVID-19 focuses most of its worst attacks against the older very sick population. The bulk of the population fights it off with no problem, and goes on living.

Now however we have decided to not allow that, even if the disease does them no harm. They must starve instead.

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Economic index experienced biggest crash ever due to Wuhan panic

1:16 pm

The beatings will continue until morale improves: The index of leading economic indicators experienced the biggest crash in March in its sixty year history, all due to the shutdowns imposed by the government in panic over the Wuhan flu.

The Conference Board said its index of leading economic indicators (LEI) tumbled 6.7% last month, the largest decrease in the series’ 60-year history. Data for February was revised down to show the index falling 0.2% instead of gaining 0.1% as previously reported. Economists polled by Reuters had forecast the index dropping 7.0% in March.

“The sharp drop in the LEI reflects the sudden halting in business activity as a result of the global pandemic and suggests the U.S. economy will be facing a very deep contraction,” said Ataman Ozyildirim, senior director of economic research at The Conference Board in Washington.

I continue to find it strange that these stories about the crashing economy are being reported in very few places. This is real news, effecting millions, unlike COVID-19.

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Strange terrain in the Martian lowlands

12:42 pm

Strange terrain in northern lowlands
Click for full image.

Cool image time! The science team for the high resolution camera on Mars Reconnaissance Orbiter (MRO) yesterday released a new captioned image, entitled “Disrupted Sediments in Acidalia Planitia”, noting that the photo

…shows a pitted, blocky surface, but also more unusually, it has contorted, irregular features.

Although there are impact craters in this area, some of the features … are too irregular to be relic impact craters or river channels. One possibility is that sedimentary layers have been warped from below to create these patterns. The freezing and thawing of subsurface ice is a mechanism that could have caused this.

The image to the right, rotated, cropped, and reduced to post here, shows the lower quarter of the full image. While in some areas it does appear as if changes below the surface caused the surface to warp and collapse, as suggested by the caption, in other places it looks more like the top layers themselves sublimated away without disturbing what was below them.

Note for example the pits near the bottom of the photograph. They clearly show sedimentary layers on their cliff walls, including the tiny circular mesa in the middle of the rightmost pit.

If these pits were collapsing from below, their cliffs would be more disturbed, because it would have been those lower layers that sublimated first. Instead, it appears that the top layer disappeared first, followed by each lower layer, one by one.

This region of strange terrain is located in the middle of the northern lowland plains. The overview map below gives some context, with the small white box showing this photo’s location.
» Read more

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First manned Dragon flight scheduled for May 27th

10:30 am

Capitalism in space: NASA today officially announced May 27, 2020 as the scheduled launch date for the first manned Dragon flight to ISS, the first time American astronauts will fly from American soil on an American rocket in an American spacecraft since the shuttle was retired almost a decade ago.

The launch is set for 4:32 pm (Eastern), and I am sure will be live streams by both NASA and SpaceX.

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SpaceX reuses sections of damaged Starship prototype for next version

9:07 am

Capitalism in space: In building its fourth Starship prototype for testing, SpaceX has decided to reuse large sections of the previous Starship prototype, badly damaged during a pressure test several weeks ago.

On April 15th, eight days after Starship SN3’s [the damaged third prototype] remaining aft section was cut in half, the rearmost half – known as the skirt – was spotted stacked beneath a brand new engine section built for SN4. While confirming that a significant part of SN3 will be reused on SN4, it also indicates that only a less critical SN3 remnant was fit to join SpaceX’s next prototype.

Though they are not reusing the engines from that third prototype, I have full confidence they will, as they were part of the same bottom section of that prototype that was damaged during the test. This statement is incorrect. I had mistakenly assumed that because SpaceX had said it planned actual test hops eventually with this third prototype that three engines were already in place. They were not.

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Space radiation may increase risk of cancer

8:59 am

Using mice and models, scientists have concluded that humans who spend long periods in space, exposed to its radiation, will have a 3% higher risk for cancer.

A team led by researchers at Colorado State University and Frederick National Laboratory for Cancer Research, which is part of the National Institutes for Health, used a novel approach to test assumptions in a model used by NASA to predict these health risks. Based on the NASA model, the team found that astronauts will have more than a three percent risk of dying of cancer from the radiation exposures they will receive on a Mars mission. That level of risk exceeds what is considered acceptable. [emphasis mine]

And how did they come to this conclusion?

…For the study, Weil and first author Dr. Elijah Edmondson, a veterinary pathologist and researcher based at the Frederick National Laboratory for Cancer Research in Maryland, used a unique stock of genetically diverse mice, mimicking a human population. Mice were divided into three groups with the first group receiving no radiation exposure and the other two receiving varying levels of exposure.

Edmondson, who conducted the research while completing a veterinary residency in pathology at CSU, said that for this type of research project, genetic variability is crucial. “Humans are very genetically diverse,” he explained. “You want to model that when it’s appropriate and feasible to do so.”

Weil said although the research team saw different tumor types, similar to humans, but the heavy ions did not cause any unique types of cancer. They also saw differences by sex. In humans, women are more susceptible to radiation-induced cancers than men; one of the main reasons is that women live longer, allowing sufficient time for cancer to develop. In assessing the cancer risk between male and female mice in the study, scientists said the findings parallel human data.

Edmondson said the study validates the NASA model to measure cancer risks for humans from space radiation.

In a sense, this study is junk. First, it discovers the obvious (radiation increases your chances of getting cancer). Second, it is too model-dependent, so assigning any precise percentage to that increase in humans is absurd, especially when based on a sample comprised of mice.

Third, and most important, it completely forgets the reality that life is risk, exploration is dangerous, and to do great things you need to take greater chances. That NASA concludes these questionable numbers are unacceptable means that NASA will never send humans anywhere beyond Earth orbit. Ever.

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Chang’e-4 and Yutu-2 reactivated for 17th lunar day on Moon’s surface

8:40 am

Engineers have reactivated both the lander Chang’e-4 and the rover Yutu-2 for their seventeenth lunar day on the far side of the Moon.

The report comes from the state-run Chinese press, so of course, it provides no useful new information other than what I wrote above. It did have this bit of Chinese propaganda, however:

The Chang’e-4 mission embodies China’s hope to combine wisdom in space exploration with four payloads developed by the Netherlands, Germany, Sweden and Saudi Arabia. [emphasis mine]

China’s wisdom sure did everyone a lot of good in Wuhan, didn’t it?

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Splashdown of Apollo 13

7:09 am

Today marks the fiftieth anniversary of the successful safe return to Earth of the Apollo 13 astronauts, Jim Lovell, Jack Swigert, and Fred Haise. Below is CBS’s coverage of that splashdown, in three videos.

If you are still under Wuhan flu house arrest, spend the time to watch them all. Each will automatically start after the previous ends.

Once again it is astonishing to see the differences from today. Note the shot of the quiet crowds watching the telecast in Grand Central Station, and their calm but joyous applause at their first view of the capsule, its parachutes deployed, gently descending safely to the ocean.

As with the moment when the failure occurred on April 13th, the news coverage continues to be detailed and focused on covering the event, not showing off news anchors and pundits. There are no shots of Walter Cronkite in his studio. He is not the story, and he knows it.

The coverage is also patient. For long periods while the divers are securing the capsule in the water, not much happens. There is no effort to return to the studio, or to break for commercials. The focus is on the story, and the story only.

Will someone please tell this to Anderson Cooper, Jim Acosta, and others of their modern ilk?

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Homebuilding market crashes due to Wuhan virus

9:18 pm

The beatings will continue until morale improves: According to the Commerce Department, housing starts plunged 22.3% in the past month, the largest such decline since 1984, due to the Wuhan flu shutdowns imposed by state governments .

Economists are estimating the economy contracted as much as 10.8% in the first quarter, which would be the steepest drop in gross domestic product since 1947. They say the massive fiscal package will likely provide little cushion for the economy.

“The economy is in a downward spiral where job losses beget job losses and the federal government emergency relief checks will not be enough to turn the tide,” said Chris Rupkey, chief economist at MUFG in New York. “The recovery is looking less V-shaped by the day as the deeper we fall, the harder it will be for the nation to climb back out of this deep hole the pandemic has dug for the economy. The worst is yet to come.” [emphasis mine]

Once again, waiting two or three or four more weeks to release us from house arrest does not mean that the economy will simply come back to life then. Once businesses crash, it can take a long time to recover.

The lack of perspective astonishes me. We are going to bankrupt ourselves and bring on a Great Depression over a new disease this year that is comparable to the annual flu season.

Want to continue social distancing? Sure. Want people to wash their hands a lot? Sure. Wear masks? If you think it necessary, sure.

Shut down all business transactions so that millions become jobless and whole industries go bankrupt? Over this? That’s insane. Not only will such a economy crash cause far more suffering and deaths, it will make it far more difficult to fight the disease.

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Clothing and cotton sales plummet 50% due to Wuhan panic

9:06 pm

The beatings will continue until morale improves: According to the U.S. Census Bureau, the clothing and cotton industry has seen a 50% plunge in sales in the past month due to Wuhan panic.

The result?

As countries worldwide take measures to slow the spread of coronavirus by quarantining people and closing nonessential businesses, sales of cotton — and the clothing and textiles made from it — have declined sharply.

Demand for cotton is so low that even though prices hit their lowest levels in more than a decade, retailers and manufacturing facilities around the world are cancelling orders. “Every stage of the supply chain is getting hit,” said Jon Devine, senior economist for Cotton Incorporated, a nonprofit industry organization based in North Carolina. “Retailers are suffering,” he said. “In between, you’ve got all the manufacturers that are trying to get their orders cancelled. And then you get all the way back to the field. Farmers are entering their planting time. They have some difficult decisions to make.”

In other words, even if we get the country reopened in May (something that right now looks unlikely because of the desire of politicians to crush the economy and cancel the Bill of Rights in order to hurt Trump), this crash now is going to spiral into next year.

I should note that the stories on the crashing economy that I am posting are very easy to find. More to come. Sadly, I have had to widen my searches to more business related sources to find them. In more sane times, a business crash like this would be front page news on every news outlet in the country. Not now. We have gone insane.

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Five million more applied for unemployment benefits last week

6:09 pm

The beatings will continue until morale improves: More than five million people applied for unemployment benefits last week, a jump caused almost entirely by the government shutdown nationwide.

That brings total claims over the four weeks ended April 11 to nearly 22 million workers, erasing the entirety of labor market gains since the 2008 financial crisis, a stunning sign of the colossal economic damage inflicted by the virus outbreak. Before the pandemic, the largest number of Americans to seek jobless aid in a four-week stretch was 2.7 million in the fall of 1982.

With a labor force that totals about 162 million people, that brings the unemployment rate close to 13 percent.

That exceeds the 10 percent peak during the worst of the Great Recession more than a decade ago and tops the previous post-World War II high of 10.8 percent in 1982, bringing the U.S. closer to Depression-era levels of unemployment. A growing number of economists have warned the so-called “Great Lockdown” will push the global economy into the worst recession since the Great Depression.

This by the way is only the beginning. If businesses are not allowed to open in the next week or so, the cascade of new job loses will make these numbers seem tiny.

But hey, we have to prevent even one death from COVID-19, no matter what the cost, even though its overall impact remains comparable to the annual flu.

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