Tag: Wuhan panic

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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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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Best Buy furloughs 51,000 workers because of Wuhan panic shutdown

5:57 pm

The beatings will continue until morale improves: Best Buy yesterday announced that it is furloughing 51,000 workers because their stores have been shuttered by the government imposed lockdown over the Wuhan flu.

Best Buy announced Wednesday the tech chain will furlough roughly 51,000 hourly and part-time store employees nationwide beginning Sunday as the company grapples with the business impact of the coronavirus pandemic.

In addition to furloughing the workers, who include “nearly all part-time employees,” an unspecified amount of corporate staff members have volunteered to work reduced hours and, in turn, take pay cuts, while others have volunteered themselves for the temporary furloughs, Best Buy announced Wednesday.

The company will provide health benefits for three more months. No promises after that.

You know, if the company goes under, caused by the government-imposed shutdown, wouldn’t that be a kind of taking of property? And doesn’t the violate the fifth amendment of the Bill of Rights?

Oh, right, that doesn’t count anymore, according to the Democratic governor of New Jersey. I forgot.

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JC Penny faces bankruptcy due to Wuhan panic

5:47 pm

The beatings will continue until morale improves: J.C. Penny is now facing bankruptcy because it will unable to meet a due date on a loan because of store closures forced on it by state governors, panicking over the Wuhan flu.

Like many traditional retailers, J.C. Penney’s business has been under pressure in recent years amid declining store traffic and a shift toward digital outlets. The company’s struggles were compounded in recent weeks after the coronavirus pandemic forced the closure of 850 J.C. Penney stores.

With turnaround plans temporarily shelved due to the pandemic, J.C. Penney executives are considering filing for bankruptcy, Reuters reported on Tuesday, citing sources familiar with the matter. While the retailer has enough cash on hand to weather the store closures, bankruptcy protections would allow J.C. Penney to restructure its upcoming debt payments. The company owes nearly $4 billion in long-term debt.

The article did not say how many employees are presently out of work because of the shut down of JC Penny stores.

I think I will start posting these stories, as I see them. There are a lot, and they illustrate that the shut downs are hurting far more people than the Wuhan flu.

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Trump bows to bureaucrats, unveils a never-ending 3-phase program to end shutdowns

4:00 pm

The house arrests will continue indefinitely: Though the country’s fifty governors are in charge of the nationwide house arrest and the only ones who can really end it, President Trump today unveiled a 3-phrase program to use as a guide for ending those state shutdowns.

The new guidelines are aimed at easing restrictions in areas with low transmission of the coronavirus, while holding the line in harder-hit locations. They make clear that the return to normalcy will be a far longer process than Trump initially envisioned, with federal officials warning that some social distancing measures may need to remain in place through the end of the year to prevent a new outbreak.

Places with declining infections and strong testing would begin a three-phased gradual reopening of businesses and schools — each phase lasting at least 14 days — to ensure that infections don’t accelerate again.

In phase one, for instance, the plan recommends strict social distancing for all people in public. Gatherings larger than 10 people are to be avoided and nonessential travel is discouraged.

In phase two, people are encouraged to maximize social distancing where possible and limit gatherings to no more than 50 people unless precautionary measures are taken. Travel could resume.

Phase three envisions a return to normalcy for most Americans, with a focus on identification and isolation of any new infections.

Essentially Trump has accepted the rules demanded by the nation’s health bureaucrats. The Bill of Rights and Constitution, meant to protect private property, personal freedom, and religious practice, will continue to be suspended and against the law until these petty dictators decide otherwise.

And even when they declare we can go back to “normal,” they want a program to hunt down infected individuals and label them as “unclean” (my term but quite accurate) so that they won’t be able infect the clean. For those individuals, all rights will still be suspended, possibly forever.

Meanwhile, the numbers continue to suggest that the total deaths from this disease will end up comparable to a somewhat normal flu season. Some might then argue that these deaths are in addition to those flu deaths, but that is incorrect. Most flu deaths occur in older and already sick populations. The Wuhan virus targets these same populations. Someone who dies from one would have been just as likely this year to have died from the other. Thus, the overall mortality will probably not change significantly, if at all, in 2020.

We never shut down the country and suspended the Bill of Rights during past similar flu seasons. In fact, it would have been considered insane to do so. I think it is insane now, suggesting that the real epidemic sweeping across the global is mass hysteria, based on an irrational fear fueled by a partisan press and Democratic politicians who are focused solely on attacking Donald Trump and endlessly seeking ways to hurt him, even if it means putting millions of people out of work and bankrupting the economy.

Moreover, there is tentative evidence that suggests the shutdowns are irrelevant to the spread of the disease. Regardless, these shutdowns were never meant to stop it, only to give the health system breathing room so it would not be overwhelmed by too many patients. That has not happened, meaning that the shutdowns are now unnecessary.

It is time for them to end, now. And if the government won’t back down, then maybe it is time for Americans to tell them to go to hell and go back to work anyway, as suggested by Sarah Hoyt.

Ignore their plans. Their plans are not for our good. The goal is to have everyone out of the house and doing the most productive thing they can by May 1st.

May First (Yes, I know, stealing the commies holiday is grand) is now National Hit the Streets Day. If you can get out of the house and work, do so. Open your shop, serve coffee on our front lawn, I don’t care. Be outside. Do something productive. And if you can’t do something productive AT LEAST BE OUTSIDE. Out in the street. Out in the park. Both of which are paid for by your taxes, btw.

May 1st, get out. Wear SOMETHING yellow (Hong Kong, the gillets jeunes, which though not like us also are fighting attempts at tyranny.) Snek optional.

Because we’re Americans. They govern by the consent of the governed. We don’t need their consent to exercise our natural rights.

As she adds, “They can’t arrest everybody.”

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Judge rules health dept must give names of all COVID-19 patients to police

1:56 pm

The law is only for the little people: An Illinois judge has ruled that the county health department must give the full list of patients infected with the Wuhan virus to the police, immediately making void all federal and state privacy laws designed to protect our health records.

On Friday, McHenry County Judge Michael Chmiel entered a temporary restraining order mandating that the Health Department disclose to police the names of those actively infected with COVID-19.

…The Health Department refused to reveal the names, prosecutors stated in a news release. Health departments have typically cited privacy concern in withholding such information, specifically the federal Health Insurance Portability and Accountability Act.

What this also means is that if you have been infected with the Wuhan flu, you are now a second class citizen in McHenry County, subject to increased police surveillance and restrictions, regardless of your rights. And your health records are now out of your control, and being freely distributed to government officials.

This story is hardly an outlier. Government officials nationwide are now using the Wuhan flu as an excuse to make them immune from all laws, free to do anything they want in order to increase their power ad infinitum.

If Americans do not resist this abuse of power now, very soon we will not have even the hint of a free nation that we presently retain.

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Economy crashes in March due to Wuhan lockdowns

9:46 am

Never let a crisis go to waste: Retail sales in March dropped a record 8.7%, almost entirely due to the nationwide lock downs and business closures imposed by the government on what government officials have arbitrarily determined are “nonessential” businesses.

The Census Bureau said though “many businesses are operating on a limited capacity or have ceased operations completely,” it had “determined estimates in this release meet publication standards.”

Last month’s decrease in retail sales reflected depressed receipts at car dealerships, with light vehicle sales crashing in March. With millions at home and crude oil prices collapsing amid worries of a deep global recession, gasoline prices have dropped, which weighed on sales at service stations in March.

In addition, the closure of non-essential retailers knocked sales at clothing, sporting goods and furniture stores.

There were also steep declines in receipts at restaurants and bars, which stopped in-person service and moved to take-out and delivery service. Though some businesses, including restaurants, have shifted to online sales, the volumes were insufficient to close the gap from social distancing measures. [emphasis mine]

I wonder if the families that run these “non-essential retailers” consider their livelihoods to be “non-essential.” Somehow I don’t think so.

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New York falsely inflates COVID-19 death toll with no evidence

9:25 am

U.S. Wuhan virus deaths, as of April 14, 2020

Yesterday the nationwide death toll from the Wuhan virus suddenly jumped after several days of decline. The graph on the right, created using the numbers at this link, illustrates this. Until yesterday it clearly looked as if the epidemic was finally subsiding, and that the peak had occurred as expected several days ago.

Why the jump? Well it turns out the reason is because government officials in New York decided to add thousands of recent deaths to their total, based on no evidence of coronavirus, at all.

The city decided to add 3,700 people to its death tolls, who they “presumed” to have died from the virus, according to a report from The New York Times. The additions increased the death toll in the U.S. by 17%, according to the Times report, and included people who were suffering from symptoms of the virus, such as intense coughing and a fever.

The Times stated: “A limited number of tests have been available, and until now, only deaths where a person had tested positive were counted among those killed by the virus in New York.”

The report stated that Democratic New York City Mayor Bill de Blasio decided over the weekend to change the way the city is counting deaths.

In other words, de Blasio is falsely inflating the numbers. And I can guess why. The drop during the past few days indicated that this manufactured crisis was beginning to end. That cannot be tolerated, as these government officials are still in the process of cementing their totalitarian control over their citizens. More time is needed! Let’s balloon the totals to magnify the crisis beyond reality!

The symptoms described could easily apply just as much to the flu. Moreover, just because someone has a cough or fever does not mean this is what killed them. They don’t say, but I bet some of those individuals clearly died from other causes.

This is fraud and corruption at its worst.

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State governments announce demands before releasing citizens from house arrest

9:56 pm

A variety of state governments, having now enjoyed their first taste of unrestrained power over their citizens, have begun issuing their odious requirements before they will end the shut downs imposed due to the Wuhan virus, shut downs that are imprisoning their citizens in their homes, destroying businesses, and putting millions out of work.

Those requirements as stated are essentially impossible to meet, and will thus cause these shut downs to continue forever.

For example, the fascist Democratic governor of the fascist state of California has now released the six demands that must be met before it will consider lifting the house arrest it has placed on its citizens.

The actual order can be found here [pdf] The demands, all of which insist on heavy future surveillance and odious limits on the freedoms of California’s citizens, all violate the Bill of Rights, and all have been imposed by degree, with no election or legislative action. They state that before the government will release its citizens from house arrest, the government must have, to quote:
» Read more

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A scientist picks apart the COVID-19 models, and finds them wanting

1:14 pm

Link here. What he does is what everyone not involved in writing these models (most of which predicted wholesale disaster if we didn’t impose martial law worldwide) should have done. This quote alone tells us the dishonesty of these models:

More surprisingly perhaps, the Imperial College paper published on March 30 states that ‘Our methods assume that changes in the reproductive number — a measure of transmission — are an immediate response to these interventions being implemented rather than broader gradual changes in behavior’ [emphasis in original]. That is to say: in this study, if the virus transmission slows it is ‘assumed’ that this is due to the lockdown and not (for example) that it would have slowed down any way. [emphasis mine] But surely this is a key point, one that is absolutely vital to understanding our whole situation? I may be missing something, but if you are presenting a paper trying to ascertain if the lockdown works, isn’t it a bit of a push to start with an assumption that lockdown works?

In other words, they shaped their prediction so that a lockdown was required to prevent millions of deaths, ignoring the extensive knowledge scientists have about how viral epidemics routinely die out because of the normal spread of infection throughout the population, depriving the virus new and safe hosts to populate.

Or to put it more bluntly, these models were political documents, not scientific research. They, like all the global warming models (that by the way have never succeeded in predicting anything), were aimed not at illuminating our knowledge but in influencing political action, and in this case the destruction of free societies worldwide.

Some people not only deserve to be fired, some might justifiably be hung for the harm they have caused millions. And I am pointing at both the modelers and the politicians who didn’t do the proper due diligence required, and instead panicked, or decided this was a great opportunity to grab some extra power.

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