“Pershing Square used credit protection on investment-grade and high-yield bond indexes to land the massive profits. The assets rise in value as the odds of corporate defaults increase. As measures to combat the virus outbreak cut into economic activity, corporate bond ratings tanked, and investors feared the worst.”
Category: Current Events
“Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus.”
Categories
Rand Paul Has More Than a Cold
“The senator from Kentucky was worried enough about being exposed to the virus that he got a still-hard-to-obtain test for it. But while he was waiting for the results, he decided to keep showing up to the Senate. He went to group lunches with his Republican colleagues, took the Capitol elevators, talked with reporters, and worked out in the somehow-still-open Senate gym. Yesterday morning, he was doing laps in the pool there.”
(https://www.theatlantic.com/politics/archive/2020/03/rand-paul-coronavirus-test-reckless/608593/)
“About 50 people gathered this month for a party in the upscale suburb of Westport, then scattered across the region and the world, taking the coronavirus with them.”
(https://www.nytimes.com/2020/03/23/us/coronavirus-westport-connecticut-party-zero.html)
“During a conference call between state officials and Trump on Thursday [March 19], Massachusetts Republican Governor Charlie Baker said the state had been outbid by the federal government while attempting to purchase personal protective equipment (PPE) during the coronavirus pandemic.”
“…on three big orders we lost to the feds.”
“Stocks tumbled close to 8% on Wall Street Wednesday and wiped out the last of the gains for the Dow Jones Industrial Average since President Donald Trump’s inauguration.”
“…masked guards with the royal court on Friday arrested [78 year old] Prince Ahmed bin Abdulaziz, a younger brother of [84 year old] King Salman, and Prince Mohammed bin Nayef, the king’s nephew and a former crown prince [and “a former army head of intelligence”]. The guards also detained a brother of Mohammed bin Nayef.”
“…on Saturday … the sweep broadened to include dozens of interior ministry officials, senior army officers and others suspected of supporting a coup attempt.”
This article goes on to outline the background of MBS consolidating power over the last few years.
“President Donald Trump persisted Monday in making false assurances about U.S. preparedness for the coronavirus outbreak and the prospects for a quick vaccine, or even cure.”
TRUMP: The U.S. may have a vaccine “relatively soon” and “something that makes you feel better … sooner.” — rally.
THE FACTS: That’s misleading…
TRUMP: The U.S. is “ranked by far No. 1 in the world for preparedness” — rally.
THE FACTS: Not “by far.”
Categories
A potential bigly problem
And just like that, science is back in vogue… Imagine being told ‘the doctor will see you now’ and having a heavily sniffing guy with thick orange and white makeup walk in with a weird expression and a bunch of conflicting data to tell you you’re gonna be fine. Would you feel better? Well, the pandemic of lies may have finally caught up with the administration because Americans and leaders around the world don’t feel better. And the stock market sure as hell doesn’t. You may be able to fool half the country, but you can’t fool a virus. Luckily, people know by now that presidential press conferences don’t pass the ‘adult in the room’ sniff test, and the rest of the world is getting ready for what looks like a potential bigly problem.
Dave Pell, NextDraft (http://nextdraft.com/archives/n20200227/peter-pandemic/)
danelabonte 