• Daily Digest

    Daily Digest 7/13 – Rent Crisis Is ‘Powder Keg,’ Official Covid-19 Statistics Miss Something Critical

    by Daily Digest

    Monday, July 13, 2020, 8:34 AM


Hedge Funds Square Off for Swath of Ailing American Newspapers (Roger B.)

Investment firms have become notorious for making deep cuts at newspapers, angling for the profitability that has largely eluded newsrooms in recent years. Alden Global has developed a reputation for “stripping down newspapers and trying to run them for cash flow for as long as they can,” Huber said.

Lawyers for Alden Global didn’t respond to a request for comment.

New York City Reaches Milestone With No Reported Virus Deaths (tmn)

It marked the end of a four-month stretch since the city reported its first Covid-19 fatality on March 11. The confirmed daily death count hit its height on April 7 at 597. Another 216 people were reported likely to have died from the virus despite no positive laboratory tests that day.

Unemployment benefits wiped from accounts with no explanation (Sparky1)

Brady and others received an email at 11 p.m. local time Friday night reading their account had been closed at the request of their employer, but did not receive a warning notification.

The loss of money seemed to only affect people who currently live out of state, but file for unemployment in Arizona due to work history. Brady currently lives in Illinois.

‘We’ve Been Sitting on a Powder Keg’: Researcher Explains Rent Crisis Amid Covid-19 (Sparky1)

“These (policies) vary considerably in terms of restrictions and time length from jurisdiction to jurisdiction, but, generally speaking, they seem to have been effective in reducing evictions,” said Edmonds, noting he’s seen “considerable drops” in filings vs. previous years in cities with robust policies in place to keep people in their homes. But, he said, that’s starting to change in places like Milwaukee, Wisconsin and Richmond, Virginia, where statewide eviction moratoriums have expired.

Touchless: How the world’s busiest airport envisions post-COVID travel (Sparky1)

DFW has become the world’s busiest airport, according to figures from travel analytics firm Cirium, thanks in part to a strategy by large global carrier American to concentrate much of its pandemic flying through its Texas hub.

Last year DFW rolled out biometric boarding — where your face is your boarding pass — for international flights and is taking advantage of the lull in international traffic to work with U.S. Customs and Border Protection to use the VeriScan technology for arriving passengers too, he said.

Turkey revokes experience requirement for central bank deputy governor (Sparky1)

State lender Vakifbank had named Hamza Yerlikaya, a Greco-Roman wrestler in the 1990s, as an independent board member on June 12, the bank announced in a stock exchange filing. Yerlikaya serves as an adviser to President Erdogan and as a deputy minister for youth and sports.

In the same decree, the CBRT was also given the opportunity to access banks’ information instantly.

Monetary and Fiscal Policy Won’t Help (thc0655)

The velocity crash did not stop with the market crash. It continued to fall to 1.43 by late 2017 despite the Fed’s money printing and zero rate policy (2008–15).

Even before the new pandemic-related crash, it fell to 1.37 in early 2020. It can be expected to fall even further as the new depression drags on.

After lobbying, Catholic Church won $1.4B in virus aid (TourGuideDC)

By aggressively promoting the payroll program and marshaling resources to help affiliates navigate its shifting rules, Catholic dioceses, parishes, schools and other ministries have so far received approval for at least 3,500 forgivable loans, AP found.

The Archdiocese of New York, for example, received 15 loans worth at least $28 million just for its top executive offices. Its iconic St. Patrick’s Cathedral on Fifth Avenue was approved for at least $1 million.

Florida shatters US record for new single-day Covid-19 cases (tmn)

“This is an American tragedy,” she said. “It’s out of control across the state because our governor won’t even tell everybody to wear masks,” she said.

Miami Beach Mayor Dan Gelber told CNN on Sunday that hospitals in the city are reaching full capacity.

Arizona, Texas Officials Order Morgue Trucks In Latest Sign Of Rising COVID-19 Rates (Sparky1)

The city’s largest hospital network, Abrazos Health, has also ordered “refrigerated storage,” even though it currently has “adequate morgue space,” according to officials.

Arizona is steadily breaking records for daily new cases of COVID-19. Cases in the state hit nearly 120,000 on Saturday, and it’s had 2,151 deaths, according to the state health department.

L.A. teachers union says schools can’t reopen unless charter schools get shut down, police defunded (thc0655)

The union outlined numerous major provisions it says will be necessary to reopen schools again, including sequestering students in small groups throughout the school day, providing students with masks and other forms of protective equipment, and re-designing school layouts in order to facilitate “social distancing.”

Yet the union goes even farther than those requests, calling for “local support” in the form of defunded police departments and the shuttering of charter schools.

Kazakhstan: Chinese officials warn of new ‘unknown pneumonia’ that is deadlier than coronavirus (Justin B.)

New cases of the unidentified pneumonia have been increasing significantly since mid-June across the country, said the embassy, adding that in some places, authorities are reporting hundreds of new cases a day.

The rise has so far been concentrated in the regions of Atyrau, Aktobe and Shymkent, which together have almost 500 new cases and more than 30 critically ill patients, said the embassy statement, citing local media.

Official Covid-19 Statistics Are Missing Something Critical (pinecarr)

Official statistics capture deaths that occur from Covid-19 reasonably well. Reporting methods are often updated, and epidemiologists have gone back and attempted to quantify Covid-19 deaths that were originally missed. But overall, death counts are a relatively easy metric to apply. Patients are either alive or dead. Knowing the difference is comparatively simple.

Second wave? Not even close (steviebears)

If virologists were driving policy about COVID-19 rather than public health officials, we’d all be Sweden right now, which means life would effectively be back to normal. The only thing our lockdowns have done at this point is prolong the agony a little bit, and encouraged Governors to make up more useless rules.

Sweden’s health minister understood that the only chance to beat COVID-19 was to get the Swedish population to a Herd Immunity Threshold against COVID-19, and that’s exactly what they have done, so let me start there.

‘People Are Going To Be Shocked’: Bannon Claims Wuhan Lab Employees Have Defected, Are Working With FBI (SillyTheEnemy)

“The thing was built with French help, so don’t think that there aren’t some monitoring devices in there. I think what you are going to find out is that these guys were doing experiments which they weren’t fully authorized [for] or knew what they were doing and that somehow, either through an inadvertent mistake, or on a lab technician, one of these things got out,” Bannon continued. “It’s not that hard for these viruses to get out. That is why these labs are so dangerous.”

By Many Calculations, LNG Is a Fail for BC: Report (westcoastjan)

His math is conservative. It excluded any LNG exports. It assumes current high levels of methane leaks from gas extraction might be reduced. And it further assumes the electrification of some upstream projects. Still, Hughes found that “emissions from oil and gas production would exceed B.C.’s 2050 target by 54 per cent.”

Heavy Rainfalls Could Threaten Food Security In Parts Of Africa, Experts Warn (000)

Rainfall deficits are also expected to emerge in coastal Kenya and Tanzania in the upcoming season. This could create the formation of a third-generation of desert locust swarms, groups, and bands hence threatening food security in the region.

For crops planted in February or early March, satellite imaging indicates broadly average to slightly above-average crop yield prospects outside of flood-affected riverine or low-lying areas.

Wild bison will be released into the UK for the first time in thousands of years in hopes to revive wildlife (Adam)

The bison will come from the Netherlands or Poland, where previous releases have proved successful, and the initial release will include one male and three females, according to the Guardian. Natural breeding is expected to increase the size of the herd.

Describing European bison as “ecosystem engineers,” the Kent Wildlife Trust, one of the conservation organizations leading the project, said the species can “change woodlands in a way that no other animal can.”

Gold & Silver

Click to read the PM Daily Market Commentary

Provided daily by the Peak Prosperity Gold & Silver Group

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."

Related content
» More