While ordinary Americans deal with the coronavirus pandemic and the many anxieties that accompany the unprecedented crisis, the super rich areretreating to state-of-the-art bunkersfeaturing bowling alleys, swimming pools, and other amenities.
The providers of these doomsday bunkers are reporting a drastic increase in business, with coronavirus hysteria causing at least one economic sector to boom.
“As unpopular as coronavirus is, it’s getting the publicity of a Backstreet Boys hit in the ‘90s,” said Gary Lynch, general manager of Texas-based Rising S Bunkers. “People have an infatuation with it.”
Business is good for Lynch and other bunker manufacturers, as the ultra rich scramble to use their remaining wealth to seclude themselves. There is no limit to the luxuries that can be provided in a modern bunker, with many of these bunker models resembling mansions.
“Movie theaters are common,” Lynch said. “We built one in California that has a shooting range, swimming pool and bowling alley.”
Lynch offers 24 different options for individuals wishing to purchase a bunker. The smallest model costs $39,500and includes a custom air filtration system, bunk beds, a functioning toilet, and a kitchen counter. A more decadent set-up is the Fortress, which costs $1.009 million, including 15 private bedrooms, 42 bunk beds, a panic room, and a room to house guns.
The most garish model of all is the Aristocrat, which features a sauna, hot tub, swimming pool, gym, greenhouse, billiards room and garage. It costs an incredible $8.35 million to construct and is off limits to all but the super rich. Coronavirus is causing a run on these types of shelters, Lynch explains, as high-class Americans realize the necessity of extreme preparedness.
“In 2008, I talked to a guy for four-five months who was thinking about purchasing a shelter. I think he probably used the coronavirus to convince his wife, because he finally just bought one,” Lynch said. “That’s how most buyers are; they’re not in it for one single reason.”
The providers of these bunkers feel they are supplying a much-needed service in the market to alleviate the authentic fears of families in an increasingly topsy-turvy world.
“We don’t create fear. We resolve it. The true elite all have backdoor plans. They’re jumping on planes and flying to islands,” said Robert Vicino, who is CEO of the shelter-building company Vivos. “We give people the peace of mind that they have their own backdoor solution for when it’s time to take shelter.”
Vicino noted that his clientele has moved from middle class to upper class in recent months, as the wealthy no longer feel insulated from the rest of society from their gated neighborhoods. He reports that interest in his bunkers are up 1,000 percent year-over-year, and sales are up 400 percent, as doomsday fever sweeps throughout America.
“As long as time permits, we will continue to build bunkers. This world won’t be safer tomorrow,” he added.
For the Americans without the wealth to retreat from society, they will have to deal with a tumultuous and dangerous reality for their loved ones as the coronavirus pandemic continues without any sign of slowing.
SEATTLE — Last Tuesday, a scientist working in a secure upper-floor laboratory in the University of Washington Medical Center’s South Lake Union campus cracked open a vial containing one of the first samples of live SARS-CoV-2 virus, with a goal of better understanding how and why it kills.
The disease caused by the virus, COVID-19, has proved particularly lethal to the elderly and those with underlying health conditions, and the scientists at the school’s Center for Innate Immunity and Immune Disease have been tasked with trying to understand why in these cases the new virus overwhelms the body’s natural defenses, while in most people it causes only moderate or even mild illness.
The new virus has some unusual characteristics that haven’t been seen in other SARS (Severe Acute Respiratory Syndrome) outbreaks, both in the way it attacks the lungs and how it can infect people quietly, where they will have few or no symptoms for days or weeks but still spread the disease, said Dr. Michael Gale, a professor of immunology at the UW and the center’s director.
“There’s a lot we don’t know,” Gale said. “We don’t know how it interacts with the cell. We don’t know how it invades it. We don’t know how it overcomes the cell’s innate immune system.”
These are all questions that Gale and his team of scientists, working with others around the world, hope to answer as they begin to understand the pathology of the novel coronavirus. That information, in turn, will inform both treatment and prevention of the disease, he said.
“What we do know is that this SARS is very successful in taking over the cell,” he said. So successful, in fact, that the body’s reaction to that takeover can be so violent and overwhelming that, in essence, it ends up killing itself.
Earlier this month, the King County Medical Examiner’s Office released a list of the first 22 people in King County to die from COVID-19 before announcing that it was no longer taking jurisdiction over SARS deaths. The list identified patients, their age and their gender, and listed the cause of death and contributing factors. Gale and another noted immunologist and pathologist, Dr. Julian Leibowitz at Texas A&M University College of Medicine, reviewed the list and remarked on how the information fits with what is known and being learned about COVID-19 and how it attacks the body.
Both were cautious to point out that the information was extremely limited and did not contain autopsy reports, tissue-sample slides or other detailed information they would need to provide anything more than general observations.
Leibowitz, however, said he has reviewed detailed results of a COVID-19 autopsy performed in China and published online. What he was able to glean from the medical examiner’s list led him to conclude the pathology was similar.
“This follows the pattern of SARS in general,” he said. “This virus clearly causes a viral pneumonia” similar to the SARS outbreak in 2003 that infected 8,089 people around the world. Like that outbreak, he said, the chance of serious illness or death is significantly higher in older populations, he said. The average age of the individuals on the medical examiner’s list was 66, with the oldest being 98 and the youngest 44.
But this new coronavirus is likely more infectious, certainly more insidious, and more lethal that the ‘03 SARS virus. That outbreak killed 774 people before being contained in about nine months. COVID-19 has infected more than 208,000 people worldwide and killed nearly 8,700 of them, and has spread into a pandemic.
Leibowitz said one thing really jumped out at him from the King County list: the number of cases of cardiomyopathy, a hardening of the heart muscle that can be caused by a drastic immune response. Four of the 22 King County fatalities had cardiomyopathy listed as the primary cause of death.
Similarly, an article published Thursday in the Journal of the American Medical Association detailing a review of the outcomes of 21 COVID-19 patients admitted to the Intensive Care Unit at Kirkland’s EvergreenHealth Medical Center made a similar observation, finding cardiomyopathy developed in seven of the 21 patients. At the time of publication, 14 of the 21 had died.
“It is unclear whether the high rate of cardiomyopathy in this case series reflects a direct cardiac complication of SARS-CoV-2 infection or resulted from overwhelming critical illness,” the article stated, calling for additional research.
Leibowitz believes it is likely a result of the body’s immune system trying desperately to stop the virus, causing massive inflammation throughout the heart and lungs and, in some cases, damaging other organs as well.
The workings of the immune system is what Gale’s UW scientists are focused on, specifically the “innate” portion of the body’s defenses — mechanisms genetically coded into every cell to protect it from infections and damage. They activate almost immediately when the body detects an invader.
Gale said his researchers are working to understand how SARS-CoV-2 manages to defeat these mechanisms to invade a cell and take it over, forcing it to replicate copies of the virus even as it is destroyed. Those virus copies then go on to infect other cells and the process repeats in a cascading infection.
“Right now, its replication strategy is unknown,” Gale said during a recent interview outside the Bio-Safety Level III laboratory in South Lake Union where his scientist opened the vial of SARS-CoV-2 this past week. Gale asked that the exact location of the laboratory be withheld for security reasons.
“What we know is that the virus physically destroys the lung tissue as it replicates in the cells,” he said. Gale said the tissue damage he’s seen bears similarities to the damaged lungs of victims of the 1918 influenza-A pandemic, which infected one of every three people and killed 50 million people — roughly 3% of the world’s population.
Gale has worked with and studied the 1918 H1N1 flu virus as well after a live specimen was recovered in 2007 from the remains of an Inuit woman who was buried in the Alaskan permafrost after dying during the pandemic.
“That virus physically destroyed the cells, as well,” he said.
A Morbidity and Mortality Report issued Wednesday by the Centers for Disease Control and Prevention states that preliminary data from the initial outbreak in Wuhan, China, shows the majority of COVID-19 deaths in those 60 and older.
Leibowitz said the vulnerability of older patients is likely explained at least in part because, as people age, their cells lose their ability to grow, divide and protect themselves through a process called “senescence,” a word derived from the Latin “senex,” which means “old.”
“The immune system becomes sluggish, sleepy,” he said.
Add to that another health issue — diabetes or kidney problems — and the tired immune system can be even further taxed.
“When a person has an underlying health issue, it engages an immune response at some level,” Gale explained. This can result in inflammation as the body attempts to grapple with the issue. “Your body is distracted, and it can’t deal with other insults.”
“It becomes a race,” said Leibowitz, who has studied coronavirus. “The virus tries to spread and make more virus in order for it to be successful in nature.
“In the meantime, your immune system tries to kill the cells that are infected,” he explained. If you are young and healthy with a robust immune system, then not as many cells will be affected.
“But if your innate immune system isn’t strong, then the virus is more successful and your body’s response will be prolonged. That means more cells will be damaged by the immune system as it tries to keep up with the virus.
“And that,” he said, “is not good for your lungs.”
The other “striking” issue with SARS-CoV-2 has been its apparently easy transmission and contagion, Leibowitz said.
“What is scary to me about this SARS compared to the outbreak in 2003 is that back then, asymptomatic patients did not transmit the disease. You had to have a fever to be contagious,” he said. “This disease can be transmitted silently by people who don’t know they are sick and show few or no symptoms of being infected.”
(EDITORS: STORY CAN END HERE)
That surreptitious transmission strikes Gale, as well, who noted that of the first 22 people who died in King County from COVID-19 — the individuals listed on the medical examiner’s document — most had been patients at Life Care Center of Kirkland, a long-term nursing facility that became ground zero for the pandemic in the U.S. At last count, Dr. Jeffrey Duchin, the chief public health officer for Public Health — Seattle & King County, said 23 care facilities had reported patients or staff with confirmed COVID-19 infections.
“The 2003 SARS outbreak was more acute,” Gale said. “Here, we have up to two weeks with people asymptomatic and, in some cases, kids don’t get sick at all. They’re little vectors.
“You have to ask yourself, ‘Why do you think all the nursing homes and care centers get hit?’ ” he asked. “I can tell you: It’s because grandparents got visits from grandkids.”
A video out of Naples, Italy shows migrants roaming around the streets, ignoring the coronavirus quarantine and putting other people’s lives at risk.
The entire country of Italy is currently on lock down with citizens only allowed to venture out for groceries and medical supplies.
“Only supermarkets and pharmacies windows are open. Only one person from each household can go on a shopping run. Police write tickets for people who are out wandering,” reports CNN.
However, video footage shows migrants in Naples completely ignoring those orders as they mill around and bicker with each other.
Sono giorni che nel quartiere Vasto di #Napoli, i migranti affollano vicoletti e marciapiedi. Sfidano i divieti, noncuranti del rischio.Mentre noi viviamo barricati nelle nostre case, c’è chi si prende gioco della nostra salute. Le regole valgono per tutti! #IlNostroPostopic.twitter.com/6feNt6XqvN
“It’s been days in the Vasto neighborhood of #Napoli , migrants crowd alleys and sidewalks,” tweeted Severino Nappi. “They defy prohibitions, regardless of the risk. While we live barricaded in our homes, there are those who mock our health. The rules apply to everyone!”
Judging from the audio of the clip, some people who are following the quarantine rules appear to be pleading with the migrants to go indoors.
By remaining outside, the migrants are helping to spread coronavirus, which has already claimed 2,158 lives in Italy.
Once again this proves that diversity is most certainly not a strength.
The Italian military has been called in to help transport dead bodies as the northern city of Bergamo reels from the ongoing coronavirus epidemic. The city’s crematorium is reportedly now working around-the-clock.
The head of Lega Nord, Matteo Salvini, posted a photograph on Twitter showing a seemingly endless line of army trucks moving their way through the Italian town, located in the Lombardy region.
The military vehicles were dispatched to help remove corpses that couldn’t be dealt with at the local level, Salvini said.
A video posted on social media shows the green and camouflage trucks parked in the street as they prepare to transport bodies.
According to media reports, Bergamo’s crematorium has been overwhelmed by the amount of coronavirus victims. The city has recorded at least 93 Covid-19 deaths, and local officials have expressed fear that the worst is yet to come.
Italy has been the hardest-hit country outside of China, where the virus is believed to have originated. Italian officials reported 475 new deaths from the illness on Wednesday alone. The country now has 35,713 infections and nearly 3,000 deaths, according to the Johns Hopkins Coronavirus Resource Center.
Video footage out of Paris shows migrants violating the country’s quarantine order by being outside without good reason as they squabble with and shout at police.
The clip appears to show a man being arrested and bundled into a police car by officers.
A group of migrants then immediately forms a crowd around the police officers and begins loudly remonstrating with them.
Threat Alert in Paris, France…
Migrants attack police and refuse to comply with Chinese Coronavirus Quarantine – just like in Germany!
It is delusional to think that these individual will EVER comply with ANY rules -Globalists already new this.
As we highlighted earlier, French citizens are being forced to fill out paperwork every time they leave the house to explain why they are breaking quarantine.
It doesn’t look like migrants in France’s troubled areas are being treated the same way.
In another video, a woman in France breaking quarantine deliberately coughs on police officers.
Woman in France purposely coughs on police trying to enforce the nationwide quarantine. pic.twitter.com/C4sjj0hqQK
As we previously highlighted, migrants in Naples, Italy are also violating the lockdown order and roaming around the streets.
Sono giorni che nel quartiere Vasto di #Napoli, i migranti affollano vicoletti e marciapiedi. Sfidano i divieti, noncuranti del rischio.Mentre noi viviamo barricati nelle nostre case, c’è chi si prende gioco della nostra salute. Le regole valgono per tutti! #IlNostroPostopic.twitter.com/6feNt6XqvN
Meanwhile, in Germany, migrants rioted, displayed ISIS flags and threatened to burn down their own refugee camp after the facility was quarantined.
French intellectual Eric Zemmour appeared on television to warn that looting was already taking place in migrant neighborhoods of France.
“In Saint Denis, as you have seen, in the 18th arrondissement, at the Duchère in Lyon, there are already many people in the immigrant neighborhoods who have started to revolt,” said Zemmour.
“They don’t want to respect the quarantine. This could end very badly. There is already looting in the supermarkets,” he added.
Mnuchin says wants to get checks in Americans’ hands within 3 weeks
BoE cuts rates, launches QE after ’emergency’ meeting
Confirmed cases in the US climbs ~50% as testing ramps up
Connecticut reports 2nd death as US death toll hits 137
NY reports ~600 new cases, bringing total to 2,959; death toll hits 21
Cuomo signs NY unemployment-benefit expansion benefit package, warns of ‘astronomical jump’ in cases
China reports zero new cases in Wuhan for first time in months.
Treasury weighing 50- and 25-year bonds to finance stimulus package
South Africa case total passes 150
India halts incoming international flights for a week
Hong Kong doctors find virus inside 2nd dog
Spain total cases climb 28% overnight
Italian death toll expected to pass China’s on Thursday
Pentagon says 2,000 nat’l guardsman deployed around the country
NY implements 90-day delay on mortgage payments due to hardship
FedEx says drop in deliveries in China was smaller than expected
Trump and Xi reportedly agree to deepen medical research ties
UK gov’t denies plans for London lockdown
Amazon closes warehouse for ‘deep clean’ after worker tests positive
Germany death toll climbs to 43
Treatment trial in Wuhan yields disappointing results
Germany’s Bafin bans short selling
Russia reports first death
SPR to buy 30 million barrels immediately, will eventually buy 70 million
Wuhan police erase record of ‘admonition’ delivered to Dr. Li Wenliang
German gov plans to suspend debt brake on Monday
Netherlands reports another jump in cases after unveiling stimulus package outline
Switzerland warns situation rapidly deteriorating along the Italian border
Tiffany closes all US stores
* * *
Update (1100ET): New York Gov. Andrew Cuomo reported yet another round of new case data on Thursday as he held his daily press briefing following an earlier interview on “the TODAY Show”.
As NY emerges as the countrywide leader in testing, Cuomo announced that the state tested ~7,500 people on Wednesday night alone. The state confirmed 1,769 new cases last night, bringing the total to 4,152. 21 New Yorkers have died so far, along with 7 additional deaths in Conn (2) and NJ (5), bringing the tri-state area death toll to 28.
He also instituted a 90-day relief period allowing New Yorkers to delay mortgage payments during the period, but only due to financial hardship (not just because they feel like it). The state has already postponed any foreclosures, banned negative credit reporting and waiving overdraft, debit card and credit card fees.
Watch his press conference below:
Cuomo also said he has no plans for a ‘shelter in place’ order.
After ordering businesses earlier this week to let at least half of their employees stay home on any given workday, Cuomo said the state would now require 75% of “non-essential” workers to stay home.
Germany’s latest batch of new cases raised its national total to 13,944, up from 12,307, and an additional 14 deaths, bringing the total to 43.
The Pentagon just confirmed that 2,000 national guard soldiers are deployed across the country as more governors have called up the national guard to assist with the virus response effort. According to the Military Times, governors across 23 states have mobilized components of the Army and Air National Guard to assist in their state’s response to the pandemic.
The states where guardsmen have been mobilized include California…
…Illinois…
…and Maryland, among other states.
Additionally, the Navy is dispatching two hospital ships, plus millions of pieces of vital medical equipment.
Meanwhile, President Trump and the White House task force are preparing for today’s briefing, where President Trump is expected to unveil measures to get experimental treatments into the hands of patients, despite some resistance from the FDA.
* * *
Update: In keeping with the coordinated central bank response via Europe, the BoE held an emergency meeting on Thursday and has announced some unprecedented stimulus measures, including launching a £645 billion bond-buying program of government and corporate bonds “as soon as operationally possible.”
Meanwhile, the cut the target from a record low of 0.25% to a new record low of 0.1%
* * *
Update (0930ET):Just before the US open, health officials in the Netherlands reported a jump in cases to 2,460.
The Dutch government has announced a rescue package designed to shield companies from the impact of the coronavirus that Finance Minister Wopke Hoekstra said is unlimited but will likely cost tens of billions of euros. The government is working on eight measures, including a fund that makes it easier for firms to request compensation for lost revenues and helps them pay wages, Hoekstra said Tuesday at a news conference.
Swiss authorities warned Thursday that the situation in the southern canton of Ticino is rapidly unraveling as the government scrambles to secure more hospital beds. Ticino is situated along the Swiss border with Italy, and is the worst-hit region of the small Alpine nation.
Meanwhile, Tiffany said it would temporarily close all stores in the US.
* * *
(0920ET): With oil price benchmarks around the world sliding below $30 a barrel, the US, the strategic petroleum reserve will immediately buy 30 million barrels of oil, and eventually buy as much as 70 million.
In China, police in Wuhan on Thursday officially revoked the government admonition issued to Dr. Li Wenliang, the martyred doctor who was censored for trying to warn the government and the people about the outbreak.
* * *
Update (0835ET):It’s shaping up to be another busy day on Thursday as Treasury Secretary Steven Mnuchin said his goal is to get checks into the hands of Americans within three weeks, up from two yesterday.
Some updates from Europe: the Swiss press is reporting that the number of confirmed coronavirus cases in the country climbed to 3,888.
Back in New York State, Cuomo reported another ~600 case jump to 2959 cases. The death toll in the state has climbed to 21, with at least 11 of those in NYC, as Gov. Cuomo warns that
After signing a paid sick leave law to guarantee pay for those under mandatory or precautionary quarantine into law, Cuomo appeared on “the Today Show” to discuss his response to the crisis, which has won him accolades from practically everyone, including President Trump, Rudy Giuliani, and other conservatives like Candace Owens.
We are seeing the enemy on the horizon and they are approaching very quickly.
What we do between now and then matters gravely.
Do everything you can. Do everything you can to flatten the curve.
The NY governor repeated his claim that the ‘hysteria’ surrounding the outbreak is more damaging and dangerous than the virus itself during a Thursday appearance on the “Today Show.”
It’s a claim he’s made several times during press briefings and television appearances.
“We know what we have to do on the virus. It’s going to be hard, it’s going to be disruptive but we know what we have to do there. The fear and the panic can actually get out of control more than the virus can,” he said in an interview on “TODAY” with Savannah Guthrie.
While he warned against increasing fear and panic, Cuomo said, “This is a war, Savannah. We have to treat it like a war.”
Cuomo appeared on the show one day after NYC Mayor Bill de Blasio. When asked about his spat with de Blasio over the ‘shelter in place’ order, Cuomo again rejected the idea, saying it would be unnecessary thanks to NY’s proactive efforts to quarantine clusters like New Rochelle.
“States don’t fight wars…they need the federal government…equipment, equipment, equipment is going to be key…the federal government has recognized and is acting that responsibility…” Cuomo said, referring to the Defense Production Act invocation and the Army’s plan to send 2 Navy Hospital ships and millions of pieces of medical equipment across the US. Even Nancy Pelosi called on Trump to use his powers this morning.
New Yorkers should prepare to see an “astronomical” jump in cases as testing ramps up, Cuomo said. But that’s not necessarily a bad thing: the more cases exposed, the more quickly the government can act to stop the spread.
Meanwhile, in Spain, the country’s health minister declared that the government of PM Pedro Sanchez will pass a €210 billion stimulus package to help alleviate the crisis as the total number of cases in Spain has climbed 28% to 17,147. 169 new deaths were reported, raising the country’s death toll to 767, as we noted earlier.
At the Treasury, Steven Mnuchin and his staff are reportedly considering issuing a 50-year bond and 25-year bond to finance the $1.3 trillion stimulus, despite telling Congress during testimony earlier this year that demand for the 50-year bond was tepid.
As the number of cases explodes in India, PM Modi has halted arrivals of international flights for at least a week beginning on Sunday.
And as the virus spreads in Africa, South Africa said its total cases confirmed climbed to 158 on Thursday after reporting its first case of human-to-human transmission within the country.
In Hong Kong, researchers have apparently found samples of the novel coronavirus inside another dog, the second time the pet of a Covid-19 patient was also found to be carrying the virus.
However, pet owners needn’t worry – at least not yet. As CNBC’s Eunice Yoon reports, there’s no evidence that these dogs can be the source of the virus for humans.
Following a barrage of easing measures by global central banks overnight, and more talk of German fiscal stimulus Thursday morning, stock futures have sunk back into the red as promising gains from overnight fizzled.
It seems the world is finally waking up to some disappointing realities: In many places around the US, and around the world, millions of people simply aren’t heeding advisories – and, in some cases, emergency declarations – pertaining to avoiding.
In California, the backlash against Elon Musk and Tesla has intensified as the billionaire openly beckoned employees of his Fremont, Calif. factory back to work despite a ‘shelter in place’ order requiring everyone to stay home to avoid the virus. Now that testing is finally ramping up around the country, with New York State taking the lead with its aggressive drive-thru push, the total number of cases confirmed in the US climbed to 9,415 (according to Johns Hopkins data), an increase of roughly 50% overnight.
It’s becoming increasingly clear that President Trump’s decision to stop travel from China, although prescient, was clearly not enough to stop the virus’s spread in the US. Officials squandered the entire month of February, and the Trump Administration is finally beginning to realize just how far it has fallen behind.
The biggest news overnight was out of Italy, which has been reporting record numbers of newly confirmed cases and deaths, as well as a surprising number of young and healthy people hospitalized in serious condition. Italian PM Giuseppe Conte said Thursday that the government would extend the nation-wide lockdown beyond April 3 because too many Italians are disregarding the orders. The extension comes as Italy faces an alarming milestone: On Thursday, Italy is very likely to officially overtake China as the country with the largest number of deaths from the virus. 475 people lost their lives on Wednesday, the largest daily jump yet, taking the total in Italy to 2978. Officially, China’s death toll is 3,231, according to the WHO, though many suspect the real death toll is much, much higher.
As of Thursday morning in New York, Italy has recorded 35,713 cases, along with 2,978 deaths.
After pleading with Schengen Zone members to keep their borders open, the EU has closed its external borders to non-EU citizens as a growing number of countries close their borders. In the South Pacific, Australia and New Zealand, members of the British Commonwealth, have barred non-resident, non-citizens from entry. The closures will take effect on Friday, local time.
China again tightened its restrictions on foreign nationals traveling to the country by requiring airlines to “reduce” international flights.
In other news, Michel Barnier, the EU’s chief Brexit negotiator, announced on twitter Thursday that he had tested positive.
By now, we’ve heard dozens of dire predictions from Wall Street banks about the economic fallout from the crisis. At this point, a recession is virtually assured, and an all-out global depression – the likes of which haven’t been seen for nearly a century in the developed world – could arrive by the second quarter, according to JPM Morgan and Mohammed El-Erian.
Now, Germany’s Ifo Institute forecast a 1.5% contraction in the German economy after one of its preliminary gauges released on Monday showed a sharp drop in sentiment.
Yesterday, we saw some rumblings about Russian disinformation campaigns targeting the West, as Vladimir Putin seizes the opportunity to destabilize the West after taking steps to fortify Russia from the onslaught (by being one of the first major countries to close its border with China, among other measures).
A document sent to European lawmakers Monday by EU officials asserted that Russia is carrying out a “significant disinformation campaign” in an effort to sow discord and panic in Western nations over the coronavirus, according to a Reuters report. Reuters apparently got its hands on the 9-page memo, and now a handful of left-wing media organizations like Axios and the Daily Beast are spreading the news.
How much longer until the West blames the severity of the “Chinese Virus” outbreak on Vladimir Putin? At any rate, despite Russia’s lockdown measures, the country recorded its first virus-related death on Thursday. A 79-year-old woman died in a Moscow hospital, the country’s pandemic response agency said on Thursday.
Yesterday, we shared a report published by the Telegraph claiming that PM Boris Johnson had asked his cabinet heads to draw up plans for a total lockdown in London, with hefty criminal penalties for all those who disobey. Dozens of reports across social media showed how millions of Londoners appear to be ignoring the government’s advice, prompting the NHS to prepare to be overwhelmed by cases. Some have warned that tens of thousands could die in the UK thanks to Johnson’s perhaps misguided hope that he could shield the British economy from the worst of the fallout by simply focusing on containing the sick. Unfortunately, one of the themes of this outbreak has been millions of people putting their own petty wants and desires above protecting the public health.
Florida and Texas have finally shut down most of the beaches where thousands of undaunted spring breakers have continued to party.
It’s likely this crisis won’t truly be over until a vaccine is mass-produced. And looking forward, headlines pertaining to drug trials for treatments and vaccines might be some of the only positive news investors get. Unfortunately, the opposite happened on Thursday, when the first scientifically controlled clinical trial of existing antiviral drugs to treat Covid-19 has delivered disappointing results.
As the FT reminds us, the next important controlled clinical trial result to look out for involves remdesivir, a drug originally developed by Gilead Sciences of the US to treat Ebola. That trial is also taking place in Wuhan. Meanwhile, in the US, a vaccine trial is underway in the Pacific Northwest.
Though the trials are continuing in Wuhan, the epicenter of the crisis, which has been struggling against the virus since it first emerged in early December, finally saw a day where no new coronavirus cases were reported. While it’s important to take this news with a grain of salt, the city has pretty much reopened for business.
A few days ago, the NYT ran a story praising India’s response to Covid-19, which had kept the number of confirmed cases down. Unfortunately, the good times couldn’t last forever, and the Indian people are finally getting a taste of the hoarding and panic that has come to dominate life in the US. After Prime Minister Modi announced plans to deliver a televised address on Thursday, which prompted Indians to scramble to stock up on essentials as they feared a national lockdown order could be delivered during that speech.
In the US, Amazon announced that it had closed one of its warehouses in New York for deep cleaning after a worker tested positive for coronavirus.This is a major threat to the US, since Amazon has emerged as a last lifeline for US consumers. If its warehouses are sidelined by the virus, the gears of consumption could truly come to a screeching halt, per Bloomberg.
Bafin, the German financial regulator, joined Italy’s Consob and a handful of other European regulators by imposing restrictions on short-selling. Though the West has been reluctant to adopt the heavy handed measures imposed on China’s population, when it comes to markets, China style crackdowns on shortsellers are apparently more palatable. Handelsblatt reported Thursday morning that Germany could move ahead with suspending its constitutional ‘debt brake’ as soon as Monday.
After UK PM Boris Johnson announced earlier this week that he would close UK schools for all except the children of essential workers and those who wouldn’t have access to food otherwise, Gavin Williamson, his education secretary, said there are “certainly no plans” at this stage to force the closures of bars and restaurants, even as speculation about a possible London lockdown continues to grow. Another government spokesperson said Thursday that there is a “zero chance” of a London lockdown.
A few minutes ago, Spain reported another alarming jump in deaths and confirmed cases that was on par with the figures coming out of Italy. Spanish Covid-19 cases rose to 17,147 (prev. 13,716) and deaths climbed to 767 (prev. 558):
Back in the US, the state of Connecticut on Thursday confirmed its second virus-linked death as the US death toll nears 140, with 137 deaths confirmed so far.
Meanwhile, as millions of young people brush off the risks to their personal health due to the virus, Bloomberg has some disappointing news: New evidence from Europe and the US suggests that younger adults aren’t as impervious to the virus as they would like to think.
Before we go, we’d like to leave readers with a rare bit of positive corporate news, courtesy of last night’s FedEx earnings report:
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