• Daily Digest

    Daily Digest 2/13 – Chinese doctors say Wuhan coronavirus reinfection even deadlier, Alibaba CEO warns coronavirus is a ‘black swan’

    by Daily Digest

    Thursday, February 13, 2020, 2:10 PM

Economy

Blain’s Morning Porridge – 13th Feb 2020: Virus vs Markets (thc0655)

The big news this morning is the complete reversal of the story the infection rate on the Covid19 virus was slowing. The sudden 15k rocket in infections is apparently due to new guidelines on how to record it, but the largest daily death toll – thus far – confirms this is the most serious pandemic in decades, dwarfing SARS in scale and speed. SARS caused a massive economic and market hit.

Coronavirus expert says he knows when the virus ‘will burn itself out,’ according to leaked analysis (Thomas R.)

With the overall death toll climbing each day, but the daily death toll showing signs of subsiding, fear and uncertainty have spread farther and farther around the globe as the novel coronavirus continues to captivate the world’s attention. However, John Nicholls, a pathology professor at the University of Hong Kong, says he knows when the virus will become inactive.

Live updates: Coronavirus cases surge again in China; more than 1,700 medical workers infected (jasonw)

China again reported a big jump in coronavirus cases Friday after changing its methodology for diagnosing and counting infections, denting hopes that the deadly outbreak could be petering out.

With an additional 5,000 reported Friday, the number of cases in mainland China has now surged past 63,000, and the economic fallout is mounting. The latest casualties are flower sellers in the country, some of whom have seen their sales fall up to 95 percent on Valentine’s Day.

The Pentagon plans to divert $3.8 billion intended for military equipment to the construction of a wall at the southwestern border, it informed lawmakers on Thursday, drawing bipartisan outrage and reviving a long-running battle with Congress over funding for President Trump’s signature campaign promise.

Exclusive: Chinese doctors say Wuhan coronavirus reinfection even deadlier

According to the message forwarded to Taiwan News, “It’s highly possible to get infected a second time. A few people recovered from the first time by their own immune system, but the meds they use are damaging their heart tissue, and when they get it the second time, the antibody doesn’t help but makes it worse, and they die a sudden death from heart failure.”

Alibaba CEO warns coronavirus is a ‘black swan’ (Adam T.)

Alibaba shares fell after the company’s CEO warned of more risks from the coronavirus. Yahoo Finance’s Julia La Roche joins Zack Guzman, Kristin Myers and Morning Brew Business Editor and Podcast Host Kinsey Grant on YFi PM to discuss.

The Lessons We Have Learned From The Coronavirus So Far… (thomas r.)

Every disaster contains a lesson or a message that needs to be examined. Every tragedy, no matter how terrible, should be absorbed into the public consciousness and adopted as a cautionary tale; a part of our mythos. These events should not be cast into the memory hole to make life less stressful, they need to be taken seriously. Otherwise, the damage done and the lives lost are all for nothing.

Energy

Big Oil Warned Trump That China Trade Deal Wouldn’t Work (Michael S)

The American Petroleum Institute warned the Trump administration that the U.S. oil industry would be hard pressed to produce all the oil China has committed to buy under the Phase 1 trade deal signed at the end of last year, Bloomberg reports, citing a closed door meeting between API officials and the Department of Energy last month.

Doug Casey: We Will Never Run Out of Oil (Paul B.)

Today, we turn once again to our founder Doug Casey, who’s sharing his insights this week on everything from technology and commodities to politics and history.

Yesterday, Doug revealed why he views technology as a “liberating influence for the average man.” And in today’s Conversations with Casey, he tackles how technology has changed the energy sector over the past few decades – especially the oil industry.

The Coronavirus May Mark The End Of Russia-OPEC Cooperation (michael s.)

A week ago, at an emergency meeting of the OPEC’s Joint Technical Committee, Russia refused to agree to the cartel’s proposal to reduce production by an additional 600 000 barrels per day (bpd). Explaining Russia’s position, Energy Minister Alexander Novak said that in order to make such a decision, it takes time to evaluate the effect of coronavirus on the oil market.

Gold & Silver

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Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the “3 Es.”

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7 Comments

  • Sun, Feb 16, 2020 - 8:16am

    #1

    pinecarr

    Status: Gold Member

    Joined: Apr 13 2008

    Posts: 1141

    1+

    Stranded oil tanker causing traffic jam across Asian Supply Lines

    From ZH, "Tankers, Tankers. Everywhere!" - Virus Causes Historic' Traffic Jam' Across Asian Supply Lines"

    Covid-19's effect on global energy markets has been disastrous. OPEC slashed its oil demand forecast last week, and Goldman Sachs doubled down on its bearish oil take and has cut its oil price target by $10 to $53 for the year, as a result of a "demand shock" that is set to collapse Chinese oil consumption by 20%, or as much as 4 million barrels per day.

    The sharp decline in demand in China, which by the way, is the world's largest oil importer, is now stranding oil cargoes off the country's coast and across Asia.

    Bloomberg's Stephen Stapczynski records footage of an impressive parking lot of tankers and other vessels off the coast of the anchorages of the port of Singapore, one of the largest freight hubs and busiest ports in the world.

    Much of the oil consumption decline is because, as we reported on Friday, China's economy is faltering as its industrial hubs remain shuttered."

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  • Mon, Feb 17, 2020 - 8:28am

    #2
    robie robinson

    robie robinson

    Status: Gold Member

    Joined: Aug 25 2009

    Posts: 1019

    9+

    Va 2a

    https://www.nbc12.com/2020/02/17/virginia-lawmakers-reject-assault-weapon-ban/?fbclid=IwAR2v0UpAldppgT5PCJ1folLi_zQEC0KOY63UA1vi_BbQIhvWsSMeP76pjBc

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  • Mon, Feb 17, 2020 - 9:47am

    pinecarr

    Status: Gold Member

    Joined: Apr 13 2008

    Posts: 1141

    4+

    Congrats Robie!!

    Congratulations Robie!!  It must be a thrill to have contributed to this victory!

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  • Wed, Feb 19, 2020 - 8:50am

    #4
    Bleep

    Bleep

    Status: Member

    Joined: Mar 07 2017

    Posts: 54

    7+

    Disappointed in lack of Coverage of non-COVID-19 Events

    It seems like 100% of Peak Prosperity coverage is focused on the Corona Virus.  I have done my preps, I am watching things carefully, but I would also like to hear your take on other events.   One of my favorite aspects of PP is the Daily Digest.  Since COVID-19 appeared, the Daily Digest seems to have gone the way of the velociraptor or is at least seems to be nearing extinction.  I appreciate the depth of COVID-19 coverage, but really don't understand why you guys are ignoring everything else.

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  • Wed, Feb 19, 2020 - 3:44pm

    Matt Holbert

    Status: Member

    Joined: Oct 03 2008

    Posts: 104

    2+

    Re: lack of coverage of non-COVID-19 events

    Bleep- Perhaps we can keep DD going for the time being... Here is a link to an article that I found compelling: https://nationalinterest.org/feature/us-economy-rigged-123326

    Excerpt:

    When I label the present American economy a corporatist system, I do so without the enthusiasm exhibited by political radicals when they fling those terms around. My own feeling is one of sadness. I am a forty-five-year veteran of Wall Street and a conservative economist. I believe that an economy’s strength lies in its ability to follow market signals about what people want, and not what political interests want. I have long understood that markets are far from perfect, but because I believe they do the best job of creating prosperity and getting people what they want and need, I long resisted evidence of our economy’s reality. But I can no longer deceive myself. For me, the last straw was Washington’s behavior during the 2008–09 financial crisis, in which the government ignored ways of proceeding equitably in favor of ad hoc measures that gave grants to favored firms, forced others into bankruptcy, and even took over the management of one.

     

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  • Wed, Feb 19, 2020 - 5:44pm

    #6

    pinecarr

    Status: Gold Member

    Joined: Apr 13 2008

    Posts: 1141

    2+

    Visa Grants Coinbase Power To Issue Bitcoin Debit Card

    This seemed potentially big from a crypto perspective " Visa Grants Coinbase Power To Issue Bitcoin Debit Card"

    Credit card giant Visa has granted its principal membership to a cryptocurrency company for the first time. Officially awarded to cryptocurrency exchange Coinbase in December, but not revealed to the public until today, the membership cuts out a crucial, and expensive middleman from the process of issuing a debit card that lets users spend their own bitcoin, ether and XRP anywhere Visa is accepted.

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  • Thu, Feb 20, 2020 - 6:39am

    #7

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2025

    1+

    Globalized centralization is the cause not the cure

    http://www.alt-market.com/index.php/articles/4112-global-centralization-is-the-cause-of-crisis-not-the-cure

    The developing narrative is a familiar one – Local officials “stifled” the response to the outbreak while the centralized national leadership put things back on track with extreme control measures that have turned the Hubei province into a veritable internment camp. Whatever you do, don't point out that it was the national government's habit of imprisoning health officials that release “false information” that led to the delayed reaction on the coronavirus. Also, don't point out that ground zero for the outbreak is just down the road from the largest Level 4 Biohazard Lab in Asia, because that would make you a “conspiracy theorist”.

    The message being pounded into the public consciousness is clear: "Shut up and accept that Centralization works". Even when it fails miserably, it is still the answer to all our problems. All we have to do is “adjust” the historical record a little bit every time the system breaks and then institute even MORE centralization in response.

    In other words, if the interdependent and draconian top-down structure of the globalist state leads to crisis, then it is because it was not centralized ENOUGH. Centralization always begets more centralization.

    The financial fascist system of central banking and corporate oligarchy leads to the socialist welfare state, and the socialist welfare state leads to the surveillance state, the surveillance state leads to the martial law state, and the martial law state leads to full-on global governance; an endless elitist empire.

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