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Story 1: U-3 Unemployment Rate at 3.5%, U-6 Unemployment Rate at 7.0% and Labor Participating Rate of 63.4% and 273,000 New Job Created and 95 Million Not In Labor Force in February 2020 — Economy Growing at 2.1% in Fourth Quarter 2019 — Videos —

CNBC’s full interview with White House advisor Larry Kudlow on February jobs and coronavirus concern

February jobs report: US employment growth soars

February Jobs Report Beats Expectations, Adds 273,000 New Jobs | MSNBC

Here’s how the coronavirus is already affecting China’s economy

Job growth smashes expectations for February as unemployment falls back to 3.5%

KEY POINTS
  • Nonfarm payrolls rose by 273,000 in February vs. a 175,000 estimate, while the unemployment rate edged lower to 3.5%.
  • Job gains were widespread, with health care adding 57,000 to lead the way.
  • December and January’s estimates were revised upward by a total of 243,000.

Nonfarm payrolls grew far more than expected in February as companies continued to hire leading into a growing coronavirus scare.

The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate was 3.5%, matching its lowest level in more than 50 years. An alternative measure of joblessness that counts those not looking for work and holding part-time jobs for economic reasons edged higher to 7%.

The January and February gains tied for best month since May 2018.
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Economists surveyed by Dow Jones had been looking for payroll growth of 175,000 and a 3.5% jobless level. Average hourly earnings grew by 3% over the past year, in line with estimates, while the average work week, considered a key measure of productivity, nudged up to 34.4 hours.

There was more good news for the jobs market: The previous two months’ estimates were revised higher by a total of 85,000. December moved up from 147,000 to 184,000, while January went from 225,000 to 273,000. Those revisions brought the three-month average up to a robust 243,000 while the average monthly gain in 2019 was 178,000.

Employment report: payrollsMonthly change, seasonally adjusted, in thousandsJan ’18May ’18Sep ’18Jan ’19May ’19Sep ’19Jan ’200100200300400500Source:BLSDecember 2019184

Despite the strong numbers, Wall Street was heading for more losses stemming from worries over the effects of the coronoavirus outbreak, though Friday’s futures were off their bottom after the report.

“This could be the last perfect employment report the market gets for some time,” said Chris Rupkey, chief financial economist at MUFG Union Bank.

Gains were spread across a multitude of sectors as the total employment level hit 158.8 million, near its December 2019 record.

Health care and social assistance led the way in job creation with 57,000 new positions. Food services and drinking places both added 53,000 while government employment grew by 45,000 due to Census hiring and state government education. Construction added 42,000 thanks to continued mild weather, while professional and technical services contributed 32,000 and finance rose by 26,000, part of a 160,000 gain over the past 12 months.

In the survey of households, employment rose by 126,000 while the ranks of the unemployed decreased by 105,000.

“While it’s too early to see the impact of the coronavirus on the labor market, we can say the labor market was in a good place before the virus began to spread,” said Nick Bunker, economic research director at job placement firm Indeed. “But the next few months will be a test of just how resilient this labor market is.”

Jobs market still looks strong

The jobs numbers took on particular importance in February as worries intensified over the economic impact from the novel coronavirus, though the report covered the time frame before worries over the disease intensified.

Most of the indicators thus far have shown little damage. Jobless claims remain well within their recent trend, coming in at 216,000 in the latest reading Thursday. Job placement firm Challenger, Gray & Christmas also reported Thursday that planned layoffs actually fell 16% from January. And key ISM readings on both manufacturing and services show companies still plan to hire.

“Now more than ever, we need to focus on the labor market data,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “The consumer has kind of kept things afloat.”

Most of the consumer-related data points have been good, though the reports coming in now largely cover the early stages of the coronavirus scare and the sharp recent stock market volatility.

With the large measure of uncertainty around the disease, its impacts may be felt in increments rather than suddenly. But if cracks begin to form, the first notices likely will come in employment data.

“If we start to handle things the way they’re handled in Italy and South Korea, closing schools and having mandated cancellations of travel and sporting events, I think there’s no way we don’t start to see it in the labor market and in consumer confidence and spending,” Sonders said.

https://www.cnbc.com/2020/03/06/us-jobs-report-february-2020.html

Employment Situation Summary

Transmission of material in this news release is embargoed until	       USDL-20-0379
8:30 a.m. (EST) Friday, March 6, 2020

Technical information: 
 Household data:	(202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:	(202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:	        (202) 691-5902  *  PressOffice@bls.gov

	
                    THE EMPLOYMENT SITUATION -- FEBRUARY 2020


Total nonfarm payroll employment rose by 273,000 in February, and the unemployment
rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics
reported today. Notable job gains occurred in health care and social assistance,
food services and drinking places, government, construction, professional and
technical services, and financial activities.

This news release presents statistics from two monthly surveys. The household
survey measures labor force status, including unemployment, by demographic
characteristics. The establishment survey measures nonfarm employment, hours, and
earnings by industry. For more information about the concepts and statistical
methodology used in these two surveys, see the Technical Note.

Household Survey Data

Both the unemployment rate, at 3.5 percent, and the number of unemployed persons,
at 5.8 million, changed little in February. The unemployment rate has been either
3.5 percent or 3.6 percent for the past 6 months. (See table A-1.)

Among the major worker groups, the unemployment rate for Asians declined to 2.5
percent in February. The rates for adult men (3.3 percent), adult women (3.1 percent),
teenagers (11.0 percent), Whites (3.1 percent), Blacks (5.8 percent), and Hispanics
(4.4 percent) showed little or no change over the month. (See tables A-1, A-2, and
A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 1.1
million, changed little in February and accounted for 19.2 percent of the unemployed.
(See table A-12.)

The labor force participation rate remained at 63.4 percent in February. The
employment-population ratio, at 61.1 percent, changed little over the month but was
up by 0.4 percentage point over the year. (See table A-1.)

The number of persons employed part time for economic reasons, at 4.3 million,
changed little in February. These individuals, who would have preferred full-time
employment, were working part time because their hours had been reduced or they
were unable to find full-time jobs. (See table A-8.)

In February, 1.4 million persons were marginally attached to the labor force,
little changed from the previous month. These individuals were not in the labor
force, wanted and were available for work, and had looked for a job sometime in the
prior 12 months but had not looked for work in the 4 weeks prior to the survey. 
Discouraged workers, a subset of the marginally attached who believed that no
jobs were available for them, numbered 405,000 in February, little different
from the previous month. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment rose by 273,000 in February, after an increase of
the same magnitude in January. In 2019, job growth averaged 178,000 per month. In
February, notable job gains occurred in health care and social assistance, food
services and drinking places, government, construction, professional and technical
services, and financial activities. (See table B-1.)

Employment in health care and social assistance increased by 57,000 in February.
Health care added 32,000 jobs, with gains in offices of physicians (+10,000), home
health care services (+10,000), and hospitals (+8,000). Employment in social assistance
increased by 25,000, with a majority of the gain in individual and family services
(+18,000). Over the past 12 months, employment increased by 368,000 in health care and
by 191,000 in social assistance. 

Food services and drinking places added 53,000 jobs in February. Employment in the
industry has increased by 252,000 over the past 7 months, following a lull in job growth
earlier in 2019.

In February, government employment increased by 45,000, led by a gain in state government
education (+16,000). Federal employment increased by 8,000, reflecting the hiring of
7,000 temporary workers for the 2020 Census. 

Construction added 42,000 jobs in February, following a similar gain in January (+49,000).
In 2019, job gains averaged 13,000 per month. In February, employment gains occurred
in specialty trade contractors (+26,000) and residential building (+10,000). 

In February, employment in professional and technical services increased by 32,000. Job
growth occurred in architectural and engineering services (+10,000) and in scientific
research and development services (+5,000). Employment continued to trend up in computer
systems design and related services (+8,000). Over the past 12 months, professional and
technical services has added 285,000 jobs. 

Employment in financial activities increased by 26,000 in February, with gains in real
estate (+8,000) and in credit intermediation and related activities (+6,000). Over the
past 12 months, financial activities has added 160,000 jobs.

Employment in other major industries, including mining, manufacturing, wholesale trade,
retail trade, transportation and warehousing, and information, changed little over the
month.

In February, average hourly earnings for all employees on private nonfarm payrolls
increased by 9 cents to $28.52. Over the past 12 months, average hourly earnings have 
increased by 3.0 percent. Average hourly earnings of private-sector production and
nonsupervisory employees increased by 8 cents to $23.96 in February. (See tables B-3
and B-8.)

The average workweek for all employees on private nonfarm payrolls rose by 0.1 hour to
34.4 hours in February. In manufacturing, the workweek increased by 0.2 hour to 40.7
hours, and overtime edged up by 0.1 hour to 3.2 hours. The average workweek for production
and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.7
hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for December was revised up by 37,000 from
+147,000 to +184,000, and the change for January was revised up by 48,000 from +225,000
to +273,000. With these revisions, employment gains in December and January combined were
85,000 higher than previously reported. (Monthly revisions result from additional reports
received from businesses and government agencies since the last published estimates and
from the recalculation of seasonal factors.) After revisions, job gains have averaged
243,000 per month over the last 3 months.

_____________
The Employment Situation for March is scheduled to be released on
Friday, April 3, 2020, at 8:30 a.m. (EDT).



 

The PDF version of the news release

News release charts

Supplemental Files Table of Contents

Table of Contents

https://www.bls.gov/news.release/empsit.nr0.htm

Table A-1. Employment status of the civilian population by sex and age

HOUSEHOLD DATA
Table A-1. Employment status of the civilian population by sex and age
[Numbers in thousands]
Employment status, sex, and age Not seasonally adjusted Seasonally adjusted(1)
Feb.
2019
Jan.
2020
Feb.
2020
Feb.
2019
Oct.
2019
Nov.
2019
Dec.
2019
Jan.
2020
Feb.
2020

TOTAL

Civilian noninstitutional population

258,392 259,502 259,628 258,392 259,845 260,020 260,181 259,502 259,628

Civilian labor force

162,793 163,497 164,235 163,047 164,401 164,347 164,556 164,606 164,546

Participation rate

63.0 63.0 63.3 63.1 63.3 63.2 63.2 63.4 63.4

Employed

156,167 156,994 158,017 156,866 158,544 158,536 158,803 158,714 158,759

Employment-population ratio

60.4 60.5 60.9 60.7 61.0 61.0 61.0 61.2 61.1

Unemployed

6,625 6,504 6,218 6,181 5,857 5,811 5,753 5,892 5,787

Unemployment rate

4.1 4.0 3.8 3.8 3.6 3.5 3.5 3.6 3.5

Not in labor force

95,599 96,004 95,393 95,345 95,444 95,673 95,625 94,896 95,082

Persons who currently want a job

5,196 5,107 4,973 5,206 4,756 4,832 4,832 4,904 4,962

Men, 16 years and over

Civilian noninstitutional population

124,965 125,513 125,575 124,965 125,687 125,773 125,852 125,513 125,575

Civilian labor force

86,056 86,331 86,597 86,399 86,901 87,104 87,049 87,088 87,008

Participation rate

68.9 68.8 69.0 69.1 69.1 69.3 69.2 69.4 69.3

Employed

82,311 82,701 83,047 83,066 83,776 84,018 84,034 83,940 83,871

Employment-population ratio

65.9 65.9 66.1 66.5 66.7 66.8 66.8 66.9 66.8

Unemployed

3,745 3,629 3,549 3,333 3,126 3,086 3,015 3,147 3,137

Unemployment rate

4.4 4.2 4.1 3.9 3.6 3.5 3.5 3.6 3.6

Not in labor force

38,909 39,183 38,979 38,566 38,786 38,669 38,803 38,426 38,568

Men, 20 years and over

Civilian noninstitutional population

116,513 117,110 117,181 116,513 117,242 117,331 117,413 117,110 117,181

Civilian labor force

83,435 83,600 83,804 83,588 83,911 84,057 84,008 84,087 84,001

Participation rate

71.6 71.4 71.5 71.7 71.6 71.6 71.5 71.8 71.7

Employed

80,117 80,358 80,592 80,677 81,196 81,377 81,390 81,345 81,202

Employment-population ratio

68.8 68.6 68.8 69.2 69.3 69.4 69.3 69.5 69.3

Unemployed

3,318 3,241 3,212 2,911 2,715 2,679 2,618 2,743 2,799

Unemployment rate

4.0 3.9 3.8 3.5 3.2 3.2 3.1 3.3 3.3

Not in labor force

33,078 33,511 33,377 32,925 33,330 33,274 33,405 33,023 33,180

Women, 16 years and over

Civilian noninstitutional population

133,427 133,988 134,053 133,427 134,158 134,247 134,329 133,988 134,053

Civilian labor force

76,737 77,167 77,638 76,648 77,500 77,243 77,507 77,518 77,538

Participation rate

57.5 57.6 57.9 57.4 57.8 57.5 57.7 57.9 57.8

Employed

73,857 74,292 74,970 73,800 74,769 74,518 74,769 74,774 74,888

Employment-population ratio

55.4 55.4 55.9 55.3 55.7 55.5 55.7 55.8 55.9

Unemployed

2,880 2,874 2,668 2,848 2,731 2,725 2,738 2,744 2,651

Unemployment rate

3.8 3.7 3.4 3.7 3.5 3.5 3.5 3.5 3.4

Not in labor force

56,690 56,822 56,415 56,779 56,658 57,004 56,822 56,470 56,514

Women, 20 years and over

Civilian noninstitutional population

125,177 125,770 125,841 125,177 125,907 125,998 126,082 125,770 125,841

Civilian labor force

73,942 74,320 74,768 73,667 74,542 74,291 74,584 74,512 74,501

Participation rate

59.1 59.1 59.4 58.8 59.2 59.0 59.2 59.2 59.2

Employed

71,396 71,785 72,413 71,169 72,130 71,881 72,200 72,097 72,179

Employment-population ratio

57.0 57.1 57.5 56.9 57.3 57.0 57.3 57.3 57.4

Unemployed

2,546 2,535 2,355 2,497 2,411 2,411 2,383 2,415 2,323

Unemployment rate

3.4 3.4 3.1 3.4 3.2 3.2 3.2 3.2 3.1

Not in labor force

51,235 51,450 51,073 51,511 51,365 51,706 51,498 51,258 51,340

Both sexes, 16 to 19 years

Civilian noninstitutional population

16,702 16,622 16,606 16,702 16,696 16,692 16,686 16,622 16,606

Civilian labor force

5,416 5,578 5,663 5,792 5,948 5,999 5,964 6,007 6,043

Participation rate

32.4 33.6 34.1 34.7 35.6 35.9 35.7 36.1 36.4

Employed

4,655 4,851 5,012 5,019 5,218 5,278 5,213 5,273 5,378

Employment-population ratio

27.9 29.2 30.2 30.1 31.3 31.6 31.2 31.7 32.4

Unemployed

761 727 651 773 730 721 752 734 665

Unemployment rate

14.0 13.0 11.5 13.3 12.3 12.0 12.6 12.2 11.0

Not in labor force

11,286 11,044 10,943 10,909 10,748 10,693 10,722 10,614 10,562

Footnotes
(1) The population figures are not adjusted for seasonal variation; therefore, identical numbers appear in the unadjusted and seasonally adjusted columns.

NOTE: Updated population controls are introduced annually with the release of January data.

 

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, Thursday, February 27, 2020
BEA 20—07

Gross Domestic Product, Fourth Quarter and Year 2019 (Second Estimate)

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the fourth quarter of 2019 (table 1), according to the “second” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP also increased 2.1 percent.

The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was also 2.1 percent. In the second estimate, an upward revision to private inventory investment was offset by a downward revision to nonresidential fixed investment (see “Updates to GDP” on page 2).

Real GDP: Percent change from preceding quarter

The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, exports, residential fixed investment, and state and local government spending that were partly offset by negative contributions from private inventory investment and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased (table 2).

Real GDP growth in the fourth quarter was the same as that in the third. In the fourth quarter, a downturn in imports and an acceleration in government spending were offset by a larger decrease in private inventory investment and a slowdown in PCE.

Current dollar GDP increased 3.5 percent, or $184.2 billion, in the fourth quarter to a level of $21.73 trillion. In the third quarter, GDP increased 3.8 percent, or $202.3 billion (tables 1 and 3).

The price index for gross domestic purchases increased 1.4 percent in the fourth quarter, the same increase as in the third quarter (table 4). The PCE price index increased 1.3 percent, compared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index increased 1.2 percent, compared with an increase of 2.1 percent.

More information on the source data that underlie the estimates is available in the “Key Source Data and Assumptions” file on BEA’s website.

 

Updates to GDP

In the second estimate, the fourth-quarter growth rate in real GDP was unrevised from the advance estimate. Private inventory investment, exports, federal government spending, and residential fixed investment were revised up. These upward revisions were offset by downward revisions to nonresidential fixed investment, PCE, state and local government spending, and an upward revision to imports. For more information, see the Technical Note and the “Additional Information” section below.

Advance Estimate Second Estimate
(Percent change from preceding quarter)
Real GDP 2.1 2.1
Current-dollar GDP 3.6 3.5
Gross domestic purchases price index 1.5 1.4
PCE price index 1.6 1.3
PCE price index excluding food and energy 1.3 1.2

For the third quarter of 2019, the percent change in real GDI was revised from 2.1 percent to 1.2 percent based on new third-quarter data from the BLS Quarterly Census of Employment and Wages.

 

2019 GDP

Real GDP increased 2.3 percent in 2019 (from the 2018 annual level to the 2019 annual level), compared with an increase of 2.9 percent in 2018 (table 1).

The increase in real GDP in 2019 reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, state and local government spending, and private inventory investment that were partly offset by a negative contribution from residential fixed investment. Imports increased (table 2).

The deceleration in real GDP in 2019, compared to 2018, primarily reflected decelerations in nonresidential fixed investment and PCE, which were partly offset by accelerations in both state and local and federal government spending. Imports increased less in 2019 than in 2018.

Current-dollar GDP increased 4.1 percent, or $846.9 billion, in 2019 to a level of $21.43 trillion, compared with an increase of 5.4 percent, or $1,060.8 billion, in 2018 (tables 1 and 3).

The price index for gross domestic purchases increased 1.5 percent in 2019, compared with an increase of 2.4 percent in 2018 (table 4). The PCE price index increased 1.4 percent, compared with an increase of 2.1 percent. Excluding food and energy prices, the PCE price index increased 1.6 percent, compared with an increase of 1.9 percent (table 4).

Measured from the fourth quarter of 2018 to the fourth quarter of 2019, real GDP increased 2.3 percent during the period. That compared with an increase of 2.5 percent during 2018. The price index for gross domestic purchases, as measured from the fourth quarter of 2018 to the fourth quarter of 2019, increased 1.4 percent during 2019. That compared with an increase of 2.2 percent during 2018. The PCE price index increased 1.4 percent, compared with an increase of 1.9 percent. Excluding food and energy, the PCE price index increased 1.6 percent, compared with an increase of 1.9 percent (table 6).

*          *          *

Next release, March 26, 2020 at 8:30 A.M. EDT
Gross Domestic Product, Fourth Quarter and Year 2019 (Third Estimate)
Corporate Profits, Fourth Quarter and Year 2019

*          *          *

https://www.bea.gov/news/2020/gross-domestic-product-fourth-quarter-and-year-2019-second-estimate

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The Pronk Pops Show 1407, March 5, 2020, Story 1: Return of Near Zero Interest Rates and Quantitative Easing Monetary Policy To Prevent Another Recession — Financial Repression By Big Government and Big Banks — Destructive Debt Debacle  — Videos — Story 2: Stocks Prices Up and Down — COVID-19 100000 Plus Confirmed Cases and 3300 Plus Deaths Rising — Still Way Behind Estimated 18000-46000 Influenza Flu Deaths and 14 Million to 21  Million of Influenza Flu Cases in United States Alone! — Test Early and Often — Videos — Story 3: COVID-19 Test Kit and Fast Lab Processing The Key To Containing The Virus — Videos — Story 4: World Health Organization Appeals To Governments to Pull Out The Stops To Contain COVID-19 — Videos Story 5: Senator Warren Withdraws From Race Blames Sexism — Nonsense — American People Have Their Own Plans That Do Not Include Warren — Will She Endorse Male Progressive Bernie Sanders — Too Little — Too Late — Videos

Posted on March 6, 2020. Filed under: 2020 Democrat Candidates, 2020 President Candidates, 2020 Republican Candidates, Addiction, Addiction, American History, Applications, Banking System, Bernie Sanders, Blogroll, Breaking News, Budgetary Policy, Canada, Cartoons, Clinton Obama Democrat Criminal Conspiracy, Communications, Computers, Congress, Constitutional Law, Corruption, Countries, Culture, Deep State, Defense Spending, Disasters, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Economics, Economics, Education, Elections, Empires, Employment, Federal Government, First Amendment, Fiscal Policy, Foreign Policy, Free Trade, Freedom of Religion, Freedom of Speech, Government, Government Dependency, Government Spending, Hardware, Health, Health Care, Health Care Insurance, History, House of Representatives, Human, Human Behavior, Illegal Immigration, Immigration, Impeachment, Independence, Investments, Joe Biden, Labor Economics, Language, Law, Legal Immigration, Life, Lying, Media, Medicare, Mental Illness, Military Spending, Monetary Policy, National Interest, National Security Agency, News, Obama, People, Philosophy, Photos, Politics, Polls, Progressives, Public Relations, Raymond Thomas Pronk, Rule of Law, Scandals, Senate, Servers, Social Sciences, Socials Security, Software, Spying, Success, Surveillance and Spying On American People, Surveillance/Spying, Tax Policy, Taxation, Taxes, Terror, Terrorism, Trade Policy, Trump Surveillance/Spying, United States Constitution, United States of America, Videos, Violence, War, Wealth, Welfare Spending | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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Story 1: Return of Near Zero Interest Rates and Quantitative Easing Monetary Policy To Prevent Another Recession — Financial Repression By Big Government and Big Banks — Destructive Debt Debacle  — Inverted Yield Curve — Recession? Videos –

Treasury 10-Year Yield Below 1%: How Low Can It Go?

Inverted Yield Curve Happened AGAIN – Trouble Ahead for the Economy?

Why Investors Are Obsessed With the Inverted Yield Curve

What is the Yield Curve, and Why is it Flattening?

Investing in Bonds with a Flat to Inverted Yield Curve

How The Economic Machine Works by Ray Dalio

 

Principles For Success by Ray Dalio (In 30 Minutes)

Keiser Report |Telling the Truth About Financial Pandemic | E1510

  

Negative Rates Coming – More Repo Largess , MORE QE.

Fed Will Cut Rates Three Times and May Restart QE, Sri-Kumar Says

Federal Reserve’s rate cut was a ‘disaster’: Expert

Bond King’ Gundlach says Fed panicked and short-term rates are ‘headed toward zero’

KEY POINTS
  • “Bond King” Jeffrey Gundlach says he believes the Fed panicked in cutting interest rates earlier this week and that short-term U.S. rates are headed for zero.
  • “I’m in the camp that the Fed is going to cut rates again,” Gundlach said. “When I say panicked, it doesn’t mean it’s not justified. Sometimes panic is justified.”
  • The benchmark 10-year Treasury note yield hit an all-time low under 0.9% just after the longtime bond investor made his comments around 12:40 p.m. ET.

VIDEO00:01
Gundlach: I expect Fed to cut rates again, maybe in two weeks

“Bond King” and DoubleLine Capital CEO Jeffrey Gundlach said Thursday that he believes the Federal Reserve panicked in cutting interest rates earlier this week and that short-term U.S. rates are headed for zero.

“If we look at history, once the Fed does a panic, intermeeting rate cut, particularly when it’s 50 basis points … they typically cut pretty quickly again,” Gundlach said. “I’m in the camp that the Fed is going to cut rates again, perhaps even in two weeks” during its regularly scheduled meeting.

The benchmark 10-year Treasury note yield hit an all-time low under 0.9% just after the longtime bond investor made his comments on CNBC’s “Halftime Report” around 12:40 p.m. ET. The 2-year U.S. rate hit also hit a record low of 0.554% earlier in the session.

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“We will see short rates headed toward zero,” Gundlach added. And “when I say panicked, it doesn’t mean it’s not justified. Sometimes panic is justified.”

“Business activity is likely to contract,” he said. “I received multiple emails today of clients that were planning on visits to DoubleLine saying they’re canceling them.”

Although President Donald Trump has spoken fondly of negative interest rates, Gundlach said he doesn’t think the Fed is likely to follow the route taken by Japan and some countries in Europe.

On Tuesday, the Federal Reserve lowered its benchmark interest rate unexpectedly by 50 basis points, saying that the spread of the coronavirus “poses evolving risks to economic activity.” The move marked the first time since the financial crisis that the U.S. central bank was forced to impose an emergency rate cut.

The action failed to ease stock market concern about the potential economic impact of the coronavirus outbreak, however, but sparked a sharp drop in short-term U.S. rates. Markets remain fearful that the disease will prevent major exporters, like China, from sending components to American manufacturers and have a rippling effect on global growth.

Risk assets continued their slide Thursday as the Dow Jones Industrial Average was down more than 900 points, or 3.4%, in midafternoon trading. The Dow fell more than 1,000 points earlier in the day. The S&P 500 dropped 3.3%, led lower by rate-sensitive regional and consumer-facing banks that generate profits through loans.

WATCH: How negative interest rates work

Federal Reserve Retools Capital Rules for Largest U.S. Banks

New Fed rule creates capital buffer tied to annual stress tests

The overhaul reflects the latest moves by the Federal Reserve to recalibrate oversight of big U.S. lenders.

PHOTO: LIU JIE/XINHUA/ZUMA PRESS

 

WASHINGTON—The Federal Reserve retooled capital rules for the largest U.S. banks, completing one of the biggest changes to the postcrisis rulebook for Wall Street during the Trump administration.

Fed officials on Wednesday said the changes would simplify rules for big banks such as JPMorgan Chase & Co. and Wells Fargo & Co. without posing risks to the stability of the financial system.

The overhaul “simplifies the post-crisis capital framework for banks, while maintaining the strong capital requirements that are the hallmark of the framework,” Fed Vice Chairman for Supervision Randal Quarles said in a statement.

The overhaul reflects the latest moves by the Fed to recalibrate oversight of big U.S. lenders. Already, officials have completed separate changes aimed at easing liquidity and capital rules for regional U.S. banks and retooled speculative trading limits for large firms.

Fed governor Lael Brainard, an Obama-era appointee, cast the sole dissenting vote against the plan, saying she believed it would reduce banks’ required capital levels and the amount they set aside as a buffer above their regulatory requirements.

In a statement, she said the plan “gives a green light for large banks to reduce their capital buffers materially, at a time when payouts have already exceeded earnings for several years on average.”

Ms. Brainard said she expects a reduction in capital largely because the overhaul requires banks to set aside funds for dividend payments for four quarters, down from the current nine.

But Mr. Quarles said the changes would maintain the overall level of capital in the system and modestly increase required capital levels for the largest firms. His estimates were based on stress-test data from 2013 to 2019, he said.

Parts of the overhaul are likely to be welcomed by big banks, including changes that streamline aspects of stress tests, which require 34 large banks to show how they would weather simulated market and economic shocks.

Wednesday’s plan reduces the total number of big-bank capital requirements to eight from 13, the Fed said. For large Wall Street firms, those changes could be offset by a new “stress capital buffer.”

Banks’ annual stress-test results would be used to calculate the size of the new buffer, which the firms would have to meet during the ensuing year. If a firm’s capital fell below this level, it would face limits on its capital distributions and bonus payments.

Under the Trump administration, regulators have sought to soften the impact of the 2010 Dodd-Frank law, which was intended to prevent another financial crisis, saying its requirements were too stringent and inflexible.

A law signed by President Trump in 2018 rolled back restrictions for banks with less than $250 billion in assets and served as the impetus for further regulatory changes.

Some of Wednesday’s changes incorporate adjustments sought by banks. The Fed’s stress tests would assume lenders restrain growth in their balance sheets during stressful periods, which doesn’t happen under current rules. That would likely have the effect of boosting banks’ capital levels in the stress tests.

The Fed held off on making some changes to the stress tests envisioned by Mr. Quarles, such as incorporating a dormant policy tool to combat credit crunches in a downturn known as the countercyclical capital buffer. The Fed would have to separately propose such changes.

Write to Andrew Ackerman at andrew.ackerman@wsj.com

Story 2: Stocks Prices Up and Down — COVID-19 100,000 Plus Confirmed Cases and 3,300 Plus Deaths Rising — Still Way Behind Estimated 18,000-46,000 Influenza Flu Deaths and 14 Million to 21  Million of Influenza Flu Cases in United States Alone! — Test Early and Often — Videos

Dow tanks more than 950 points as Wall Street’s roller-coaster week continues

Stocks plunged on Thursday, erasing most of the steep gains in the previous session, as markets remained highly volatile in the face of the fast-spreading coronavirus.

The Dow Jones Industrial Average ended the day 969.58 points, or 3.5%, lower at 26,121.28 after tanking nearly 1,150 at its session low. The S&P 500 dropped 3.3%, or 106.18, to 3,023.94 and the Nasdaq Composite fell 3.1%, or 279.49, to 8,738.60. All 11 S&P sectors finished the day in the red. Stocks turned sharply lower as the 10-year Treasury yield fell to an all-time low below 0.9%.

Fears about the coronavirus disrupting the global economy continued to grip Wall Street as countries around the world extended quarantines and travel restrictions. California declared a state of emergency after a coronavirus-related death and 53 confirmed cases in the state. The number of infections in New York also doubled overnight to 22 as the state ramps up its testing.

VIDEO04:40
Stocks dropped sharply again because of the fast-spreading coronavirus

“The majority of this is just growing concern about the fallout from the virus because it’s spreading,” said Tom Essaye, founder of the Sevens Report. “For every hour, another group of people have it and it’s in another state. People are getting a bit nervous about this constant barrage of headlines.”

That angst fueled investor demand for safer assets like U.S. Treasurys and gold. The tumbling yields kept pressure on bank stocks, which led the major indexes lower. JPMorgan and Bank of America both dropped about 5%.

Airline stocks also took a huge beating, leading the declines in the Dow Jones Transportation Average, which dipped into bear market territory Thursday. United Airlines cratered 13.4%, while American Airlines tanked 13.2%, suffering its worst day since 2016.

The market moves came amid a roller-coaster week on Wall Street, which saw the 30-stock Dow swinging 1,000 points or higher twice in the past three days.

The Dow posted its second-biggest point gain on Wednesday as major wins from former Vice President Joe Biden during Super Tuesday sparked a relief rally, especially in the health-care sector. Investors also cheered signs of a global response to the outbreak, including a more than $8 billion in emergency funding from Congress.

“The optimism coming off Super Tuesday has come and gone and we reverted to being driven by fear over the containment of the virus and the impact it’s going to have on the global economy down the road,” said Mike Loewengart, managing director of investment strategy at E-Trade.

On Tuesday, the Federal Reserve cut its benchmark interest rate unexpectedly by 50 basis points, citing that coronavirus “poses evolving risks to economic activity.” It was the central bank’s first such emergency cut since the 2008 financial crisis.

The move failed to assuage stock market concerns about the potential economic impact of the coronavirus outbreak and triggered sharp movements in the markets.

“Despite the rally in stocks [Wednesday], Treasury yields and gold prices did not respond in-kind,” said Matt Maley, chief market strategist at Miller Tabak. “None of the other markets saw the kinds of moves yesterday that would indicate that we’re out of the woods on the negative impact of the coronavirus. In other words, many other markets are still sending up warning signals.”

Investors will monitor a key jobs report on Friday for signs of any negative impact on the labor market from the coronavirus. The U.S. economy is expected to have added 175,000 jobs in February, down from 225,000 in January.

The weekly jobless claims data on Thursday underscored the labor market strength despite the outbreak. Initial claims for state unemployment benefits slipped 3,000 to 216,000 for the week ended Feb. 29. Economists polled by Reuters had forecast claims would fall to 215,000 in the latest week.

—CNBC’s Thomas Franck and Fred Imbert contributed to this report.

https://www.cnbc.com/2020/03/05/us-markets-dow-futures-indicate-opening-drop.html

Cruise Ship Held Off California Becomes New Focus of Concern

A cruise liner bound for San Francisco from Hawaii is believed to be linked to two coronavirus cases, one of them fatal. More cases were found in a number of states, including Texas and New Jersey.

  • 1201
This briefing has ended. Read the latest news and analysis about the coronavirus outbreak here.
Credit…Max Whittaker for The New York Times

Gov. Gavin Newsom announced on Wednesday that a cruise ship returning to California from Hawaii that had suspected links to two coronavirus cases, one of them fatal, was being held off the coast of San Francisco, as public health officials prepared to screen everyone on the ship.

Eleven passengers and 10 crew members on the boat were showing symptoms on Wednesday, the governor said. “That number may significantly understate” the scope of infection, he said, or “it may indeed be abundance of caution.”

“The ship will not come on shore until we appropriately assess the passengers,” Mr. Newsom added.

The governor also announced that the state was declaring a state of emergency to help mobilize its response to the coronavirus outbreak. The number of cases in the state shot up to 54 on Wednesday, the most in the nation.

Governor Newsom said that about 2,500 people, more than half of them Californians, had been aboard the ship, identified by its owners as the Grand Princess, during a recent voyage from San Francisco to Mexico. One of those passengers died Wednesday in Placer County, Calif., the first U.S. coronavirus death outside Washington State and the 11th overall. Another passenger was being treated for the illness in Sonoma County. State and federal officials were racing to contact others who had been on board.

Mr. Newsom said the ship had gone on to Hawaii after its stop in Mexico, and then had sailed back toward California with some of the passengers from the original San Francisco-to-Mexico leg of the voyage still on board.

The person who died in Placer County had underlying health conditions and had been in isolation at a hospital after falling ill. Officials believe the patient was probably exposed to the virus on the San Francisco-to-Mexico leg of the voyage last month.

The New York Times would like to hear from health care providers who are struggling to get patients tested for coronavirus or are having difficulty getting sufficient medical supplies. Please email us at coronavirus@nytimes.com. A reporter may contact you to follow up. Thank you.

Health officials in Los Angeles County announced six new cases on Wednesday, and Santa Clara County announced three more cases. The virus has been detected across the United States, but so far has been concentrated on the West Coast.

A person who conducted medical screenings at Los Angeles International Airport tested positive for the virus, the Department of Homeland Security said on Wednesday. The person last worked at the airport on Feb. 21, eight days before showing symptoms of infection, the agency said.

Each of the six new cases reported by Los Angeles County was linked to a known exposure, a history of international travel or contact with someone who had traveled or been diagnosed with the virus, officials said.

Coronavirus Map: Tracking the Spread of the Outbreak

The virus has infected more than 97,800 people in at least 81 countries.

Facebook on Wednesday said that a worker in the company’s Seattle offices tested positive for Covid-19, the disease caused by the new coronavirus, making it the second major tech company in the city to be affected by the outbreak.

The tech industry is vital to the economy of Washington State, where a cluster of infections has taken root and 10 people have died, leading companies there to take extra measures to halt the spread of the virus.

“A contractor based in our Stadium East office has been diagnosed with Covid-19,” said Andy Stone, a company spokesman. “We’ve notified our employees and are following the advice of public health officials to prioritize everyone’s health and safety.”

The Seattle area is Facebook’s largest engineering outpost outside of its Bay Area headquarters. It had 5,000 employees in the region as of last September, when it announced plans to expand even more.

2019-2020 U.S. Flu Season: Preliminary Burden Estimates

CDC estimates* that, from October 1, 2019, through February 22, 2020, there have been:

32,000,000 – 45,000,000
flu illnesses

person coughing icon

14,000,000 – 21,000,000
flu medical visits

doctor patient icon

310,000 – 560,000
flu hospitalizations

hospital room icon

18,000 – 46,000
flu deaths

flu virus icon

*Because influenza surveillance does not capture all cases of flu that occur in the U.S., CDC provides these estimated ranges to better reflect the larger burden of influenza. These estimates are calculated based on CDC’s weekly influenza surveillance data and are preliminary.

This web page provides weekly, preliminary estimates of the cumulative in-season numbers of flu illnesses, medical visits, hospitalizations, and deaths in the United States. CDC does not know the exact number of people who have been sick and affected by influenza because influenza is not a reportable disease in most areas of the U.S. However, CDC has estimated the burden of flu since 2010 using a mathematical model that is based on data collected through the U.S. Influenza Surveillance System, a network that covers approximately 8.5% of the U.S. population (~27 million people).

Limitations

The estimates of the cumulative burden of seasonal influenza are subject to several limitations.

First, the cumulative rate of laboratory-confirmed influenza-associated hospitalizations reported during the season may be an under-estimate of the rate at the end of the season because of identification and reporting delays.

Second, rates of laboratory-confirmed influenza-associated hospitalizations were adjusted for the frequency of influenza testing and the sensitivity of influenza diagnostic assays. However, data on testing practices during the 2019-2020 season are not available in real-time. CDC used data on testing practices from the past influenza seasons as a proxy. Burden estimates will be updated at a later date when data on contemporary testing practices become available.

Third, estimates of influenza-associated illness and medical visits are based on data from prior seasons, which may not be accurate if the seriousness of illness or patterns of care-seeking have changed.

Frequently Asked Questions

What does the cumulative burden of influenza for the 2019-2020 season mean?

The cumulative burden of influenza is an estimate of the number of people who have been sick, seen a healthcare provider, been hospitalized, or died as a result of influenza since October 01, 2018. CDC does not know the exact number of people who have been sick and affected by influenza because influenza is not a reportable disease in most areas of the United States. However, these numbers are estimated using a mathematical model, based on observed rates of laboratory-confirmed influenza-associated hospitalizations.

How does CDC estimate the cumulative burden of seasonal influenza?

Preliminary estimates of the cumulative burden of seasonal influenza during the 2019-2020 season in the United States are based on crude rates of laboratory-confirmed influenza-associated hospitalizations, reported through the Influenza Hospitalization Surveillance Network (FluSurv-NET), which were adjusted for the frequency of influenza testing during recent prior seasons and the sensitivity of influenza diagnostic assays. Rates of hospitalization were then multiplied by previously estimated ratio of hospitalizations to symptomatic illnesses, and frequency of seeking medical care to calculate symptomatic illnesses, medical visits, and deaths associated with seasonal influenza, respectively.

Why does the estimate of cumulative burden change each week?

The estimates of cumulative burden of seasonal influenza are considered preliminary and may change each week as new laboratory-confirmed influenza-associated hospitalizations are reported to CDC. New reports include both new admissions that have occurred during the reporting week and also patients admitted in previous weeks that have been newly reported to CDC.

How does the number of flu hospitalizations estimated so far this season compare with previous end-of-season hospitalization estimates?

The number of hospitalizations estimated so far this season is lower than end-of-season total hospitalization estimates for any season since CDC began making these estimates. This table also summarizes all estimated influenza disease burden, by season, in U.S. from 2010-11 through 2017-18.

Preliminary Cumulative Estimates of Hospitalizations in the U.S. 2019-2020 Flu Season

Preliminary hospital burden*These estimates are preliminary and based on data from CDC’s  weekly influenza surveillance reports summarizing key influenza activity indicators.

Estimated number of influenza-associated hospitalizations

The y-axis extends from 0 to 1 million.

The x-axis is a timeline starting October 5, 2019 and extending to May 30, 2020.

There is a single blue-shaded curve labeled with “2019/20”.

There are several other lines on the right side of the graph under Total hospitalizations at end of past seasons. The lines are labeled, from top to bottom, as 2018/19, 2017/18, 2014/15, 2016/17, 2012/13, 2013/14, 2015/16, 2010/11, and 2011/12 and represent the estimated burden for these seasons.  This allows for the comparison of the current season to past seasons.

Virus Testing Blitz Appears to Keep Korea Death Rate Low

Heejin Kim, Sohee Kim and Claire Che
Bloomberg

‘Not today’: Elizabeth Warren declines to endorse Joe Biden or Bernie Sanders after she finally quits presidential race but says she WILL have more to say about ‘sexism’

  • Massachusetts senator pulls the plug on her campaign
  • But she did not immediately endorse either Joe Biden or Bernie Sanders
  • ‘Not today. I need some space around this, and I want to take a little time to think a little more,’ she said outsider her home in Massachusetts 
  • Warren had been in talks with both campaigns since her dismal Super Tuesday showing when she even failed to win Massachusetts    
  • Warren led the field early on but saw her star slowly fade as Pete Buttigieg won Iowa, Sanders took New Hampshire and Biden won South Carolina
  • Her biggest prize was effectively driving Mike Bloomberg out of the race by tearing into him at the two debates he took part in 
  • Trump mocked her throughout her campaign as Pocahontas over her claims to have Native American heritage

Elizabeth Warren ended her presidential campaign on Thursday but is not endorsing either of the two remaining candidates – Joe Biden or Bernie Sanders – at least not yet.

‘Not today. I need some space around this, and I want to take a little time to think a little more. I’ve been spending a lot of time right now on the question of suspending and also making sure that this works as best we can for our staff, for our team, for our volunteers,’ she told reporters outside her home in Cambridge, Mass.

‘We don’t have to decide that this minute,’ she noted, saying she would advise her supporters to ‘take a deep breath’ and think about who they would want to give their blessing.

Warren bowed out after failing to win any states in the Democratic primary process – even losing her home state of Massachusetts.

Elizabeth Warren declined to endorse either Joe Biden or Bernie Sanders after she dropped out of the Democratic presidential race+10

Elizabeth Warren declined to endorse either Joe Biden or Bernie Sanders after she dropped out of the Democratic presidential race

Elizabeth Warren also said she'd have more to say about the role gender and sexism played in the Democratic primary process

Elizabeth Warren also said she’d have more to say about the role gender and sexism played in the Democratic primary process

She acknowledged the role gender played in the race.

‘Gender in this race, you know that is the big question for everyone. If you say, yeah, there was sexism in this race, everyone says, whiner. And if you say, no, there was no sexism, about a bazillion women think, what planet do you live on? I promise you this, I’ll have a lot more to say on that subject later on,’ she said.

She also referenced the ‘pinkie’ promises she made with little girls on the campaign trail about a woman being in the contest.

‘I take those pinkie promises seriously,’ she said.

Her decision means there will be a female will not win the presidential nomination after women expressed their fury at President Trump’s election.

‘The hardest part of this is all those little girls who are going to have to wait four more years. That’s going to be hard,’ she said.

She choked up a few times when she talked to the press about her decision with her husband Bruce and dog Bailey at her side.

‘I stood in that voting booth and I looked down and saw my name on the ballot. And I thought, wow, kiddo, you’re not in Oklahoma anymore. That it really was a moment of thinking about how my mother and dad, if they were still here, would feel about this,’ she said.

‘It was a long time standing in that booth. I miss my mommy and my daddy,’ she added.

Elizabeth Warren choked up a few times when she talked about her decision to exit the race

Elizabeth Warren choked up a few times when she talked about her decision to exit the race

Elizabeth Warren exits her Massachusetts home with her husband Bruce to face a crowd of reporters and discuss the end of her presidential campaign

Elizabeth Warren exits her Massachusetts home with her husband Bruce to face a crowd of reporters and discuss the end of her presidential campaign

Warren announced her decision Thursday morning in a call with her staff, thanking them for their work.

‘I know that when we set out, this was not the call you ever wanted to hear. It is not the call I ever wanted to make. But I refuse to let disappointment blind me – or you – to what we’ve accomplished. We didn’t reach our goal, but what we have done together – what you have done – has made a lasting difference. It’s not the scale of the difference we wanted to make, but it matters – and the changes will have ripples for years to come,’ she said.

She also vowed that ‘our place in this fight has not ended.’

‘The fight may take a new form, but I will be in that fight, and I want you in this fight with me. We will persist,’ she said.

Her decision means that the contest is a simple two horse race between Biden, 77, and Sanders, 78, with Biden currently ahead thanks to his dramatic Super Tuesday come back.

President Trump, who called her ‘very selfish,’ for staying the race, claiming she was doing so to keep Sanders from winning the nomination, slammed her exiting the contest ‘THREE DAYS TOO LATE.’

‘Elizabeth “Pocahontas” Warren, who was going nowhere except into Mini Mike’s head, just dropped out of the Democrat Primary…THREE DAYS TOO LATE. She cost Crazy Bernie, at least, Massachusetts, Minnesota and Texas. Probably cost him the nomination! Came in third in Mass,’ he wrote on Twitter.

Warren, who led the field early on, saw her star slowly fade as Pete Buttigieg won Iowa, Sanders took New Hampshire and Biden won South Carolina.

Out at last: Elizabeth Warren took 36 hours to bow to the inevitable, finally quitting the presidential race Thursday morning after a disastrous Super Tuesday

Boost? Joe Biden and Bernie Sanders are now clear to go against each other - and both were in talks with Elizabeth Warren for her endorsement

Boost? Joe Biden and Bernie Sanders are now clear to go against each other - and both were in talks with Elizabeth Warren for her endorsement

Boost? Joe Biden and Bernie Sanders are now clear to go against each other – and both were in talks with Elizabeth Warren for her endorsement

She has reportedly been in talks with both Biden and Sanders about her endorsement, a value that will could make her the kingmaker in the Democratic primary, particularly if she bestows it on the former vice president.

Biden has already sealed endorsements from Buttigieg, Amy Klobuchar, Beto O’Rourke, and Mike Bloomberg.

Warren, a favorite of the progressives, was never able to capture the liberal left like Sanders did.

Her blessing to him would rally the left flank of the party to his side and boost his battle against Biden.

Sanders said on Wednesday he had spoken to Warren that day and she was assessing her campaign.

‘It is important, I think, for all of us… to respect the time and the space that she needs to make her decision,’ he said.

Warren also spoke with Biden on Wednesday.

President Trump had attacked Warren as ‘selfish’ for not dropping out of the race, claiming her presence was a move by the party to keep Sanders from becoming the nominee since they both appeal to the same voting block.

He accused her of playing a spoiler role in the primary process.

‘So Elizabeth Warren was the single biggest factor in that election last night and it would have been a very different thing and not in a positive way for her,’ Trump said at the White House Wednesday.

Trump had made her the subject of attacks as ‘Pocahontas’ after her botched defense of claims she had Native American heritage, which ended in a DNA test showing that she was likely to be 1,064th Indian.

Tulsi Gabbard remains the lone female candidate in the primary race but her campaign has faltered. She has not appeared on the debate stage in months, barely makes the polls, and only netted a single delegate on Super Tuesday – from American Samoa where she was born.

 Warren was the last surviving woman among the major candidates however, staying in long past Kirsten Gillibrand, Kamala Harris, and Klobuchar.

Last woman running: Tulsi Gabbard, the Hawaii congresswoman, remains in the race but has garnered just one delegate - from American Samoa

Last woman running: Tulsi Gabbard, the Hawaii congresswoman, remains in the race but has garnered just one delegate – from American Samoa

President Trump repeatedly attacked Elizabeth Warren as 'Pocahontas,' based on her claim of Native American DNA, which a test proved false

 

President Trump repeatedly attacked Elizabeth Warren as ‘Pocahontas,’ based on her claim of Native American DNA, which a test proved false

Her departure will likely raise questions about how Democrats – who brag about their diversity – came down to having two white males as their final contenders for the nomination.

Warren did, in effect, drive Mike Bloomberg from the race.

She decimated him on the debate stage, demanding to know why he wouldn’t release women from the disclosures they signed after complaints about a hostile work environment.

She demanded to know how many women and why he wouldn’t release them, leaving Bloomberg fumbling for an answer and damaging his campaign prospects.

Bloomberg exited the race on Wednesday after pouring nearly a billion dollars in trying to sweep the Super Tuesday contests – only to win American Samoa. He also endorsed Biden.

Warren was known for her policy proposals – ‘I have a plan for that’ was practically her campaign slogan – and her long lines of supporters wanting selfies.

But her many proposals also became part of her down fall. Her rivals pummeled her on her Medicare for All universal health care plan, demanding to how she would pay for it and why people who liked their insurance should give it up.

WHO ARE THE 3 DEMOCRATS RUNNING FOR PRESIDENT IN 2020?

JOE BIDEN

Age on Inauguration Day 2021: 78

Entered race: April 25, 2019

Career: No current role. A University of Delaware and Syracuse Law graduate, he was first elected to Newcastle City Council in 1969, then won upset election to Senate in 1972, aged 29. Was talked out of quitting before being sworn in when his wife and daughter died in a car crash and served total of six terms. Chaired Judiciary Committee’s notorious Clarence Thomas confirmation hearings. Ran for president in 1988, pulled out after plagiarism scandal, ran again in 2008, withdrew after placing fifth in the Iowa Caucuses. Tapped by Obama as his running mate and served two terms as vice president. Contemplated third run in 2016 but decided against it after his son died of brain cancer.

Family: Eldest of four siblings born to Joe Biden Sr. and Catherine Finnegan. First wife Neilia Hunter and their one-year-old daughter Naomi died in car crash which their two sons, Joseph ‘Beau’ and Robert Hunter survived. Married Jill Jacobs in 1976, with whom he has daughter Ashley. Beau died of brain cancer in 2015. Hunter’s marriage to Kathleen Buhle, with whom he has three children, ended in 2016 when it emerged Hunter was in a relationship with Beau’s widow Hallie, mother of their two children. Hunter admitted cocaine use; his estranged wife accused him of blowing their savings on drugs and prostitutes

Religion: Catholic

Views on key issues: Ultra-moderate who will emphasize bipartisan record. Will come under fire over record, having voted: to stop desegregation bussing in 1975; to overturn Roe v Wade in 1981; for now controversial 1994 Violent Crime Act; for 2003 Iraq War; and for banking deregulation. Says he is ‘most progressive’ Democrat. New positions include free college, tax reform, $15 minimum wage. No public position yet on Green New Deal and healthcare. Pro-gun control. Has already apologized to women who say he touched them inappropriately

Would make history as: Oldest person elected president

Slogan: Our Best Days Still Lie Ahead

TULSI GABBARD

Age on Inauguration Day: 39

Entered race: Still to formally file any papers but said she would run on January 11 2019

Career: Currently Hawaii congresswoman. Born on American Samoa, a territory. Raised largely in Hawaii, she co-founded an environmental non-profit with her father as a teenager and was elected to the State Legislature aged 21, its youngest member in history. Enlisted in the National Guard and served two tours, one in Iraq 2004-2006, then as an officer in Kuwait in 2009. Ran for Honolulu City Council in 2011, and House of Representatives in 2012

Family: Married to her second husband, Abraham Williams, a cinematographer since 2015. First marriage to childhood sweetheart Eduardo Tamayo in 2002 ended in 2006. Father Mike Gabbard is a Democratic Hawaii state senator, mother Carol Porter runs a non-profit.

Religion: Hindu

Views on key issues: Has apologized for anti-abortion and anti-gay marriage views; wants marijuana federally legalized; opposed to most U.S. foreign interventions; backs $15 minimum wage and universal health care; was the second elected Democrat to meet Trump after his 2016 victory

Would make history as: First female, Hindu and Samoan-American president; youngest president ever

Slogan: Lead with Love 

BERNIE SANDERS

Age on Inauguration Day: 79

Entered race: Sources said on January 25, 2019, that he would form exploratory committee. Officially announced February 19

Career: Currently Vermont senator. Student civil rights and anti-Vietnam activist who moved to Vermont and worked as a carpenter and radical film-maker. Serial failed political candidate in the 1970s, he ran as a socialist for mayor of Burlington in 1980 and served two terms ending in 1989, and win a seat in Congress as an independent in 1990. Ran for Senate in 2006 elections as an independent with Democratic endorsement and won third term in 2018. Challenged Hillary Clinton for the Democratic nomination in 2016 but lost. Campaign has since been hit by allegations of sexual harassment  – for which he has apologized – and criticized for its ‘Bernie bro’ culture

Family: Born to a Jewish immigrant father and the daughter of Jewish immigrant parents in Brooklyn, New York. First marriage to college sweetheart Deborah Shiling Messing in 1964 ended in divorce in 1966; had son Levi in 1969 with then girlfriend Susan Cambell Mott. Married Jone O’Meara in 1988 and considers her three children, all adults, his own. The couple have seven grandchildren. His older brother Larry is a former Green Party councilor in Oxfordshire, England. 

Religion: Secular Jewish 

Views on key issues: Openly socialist and standard bearer for the Democratic party’s left-turn. Wants federal $15 minimum wage; banks broken up; union membership encouraged; free college tuition; universal health care; re-distributive taxation; he opposed Iraq War and also U.S. leading the fight against ISIS and wants troops largely out of Afghanistan and the Middle East

Would make history as: Oldest person elected president; first Jewish president

Slogan: Not me. Us.

AND THE 26 WHO HAVE WITHDRAWN 

MICHAEL BENNET, Colorado senator

  • Entered race: May 2, 2019 
  • Quit:  February 12, 2019, evening of New Hampshire primary

MIKE BLOOMBERG

Entered race: November 24, 2019

Quit: March 4, 2020, day after Super Tuesday primaries

CORY BOOKER, New Jersey Senator 

  • Entered race: February 1, 2019
  • Quit: January 13, 2020 

STEVE BULLOCK, Montana governor 

  • Entered race: May 14, 2019 
  • Quit: December 2, 2019

PETE BUTTIGIEG, former mayor of South Bend, Indiana

Entered race: January 23, 2019

Quit: March 1, 2020, day after South Carolina primary 

JULIÁN CASTRO, former Housing Secretary

  • Entered race: January 18, 2019
  • Quit: January 2, 2020 

BILL DE BLASIO, New York City mayor 

  • Entered race: May 16, 2019
  • Quit: September 20, 2020

JOHN DELANEY, former Maryland Congressman

  • Entered race: July 8, 2017
  • Quit: January 31, 2019 

KIRSTEN GILLIBRAND, New York senator

  • Entered race: January 16, 2019
  • Quit: August 28, 2019

 MIKE GRAVEL, Former Alaska governor

  • Entered race: April 2,2019
  • Quit: August 2, 2019 

KAMALA HARRIS,California senator  

  • Entered race: January 21, 2019
  • Quit: December 3, 2019 

JOHN HICKENLOOPER, Former Colorado governor

  • Entered race: March 4, 2019
  • Quit: August 15, 2019 

JAY INSLEE, Washington governor 

  • Entered race: March 1, 2019
  • Quit: August 21, 2019

AMY KLOBUCHAR, Minnesota senator 

  • Entered race: February 19, 2019
  • Quit: March 2, 2020 

WAYNE MESSAM, mayor of Miramar, Florida 

  • Entered race: March 28, 2019
  • Quit: November 20, 2019 

SETH MOULTON, Massachusetts congressman

  • Entered race:  April 22,2019
  • Quit: August 23, 2019

RICHARD OJEDA, former West Virginia state senator

  • Entered race: November 12, 2018
  • Quit: January 25, 2019

BETO O’ROURKE, former Texas congressman

  • Entered race: March 14, 2019 
  • Quit: November 1, 2019  

DEVAL PATRICK, former Massachusetts governor 

  • Entered race: November 13, 2019
  • Quit:  February 13, 2019, morning after New Hampshire primary

TIM RYAN, Ohio congressman

  • Entered race: April 4, 2019
  • Quit: October 24, 2019

JOE SESTAK, former Pennsylvania congressman 

  • Entered race: June 23, 2019
  • Quit: December 1, 2019

 TOM STEYER, billionaire activist 

  • Entered race: July 9, 2019
  • Quit: February 29, 2020

ERIC SWALWELL, California congressman 

  • Entered race: April 8, 2019
  • Quit: July 8, 2019  

ELIZABETH WARREN, Massachusetts senator

Entered race: December 31, 2018

Quit: March 5, 2020, two days after Super Tuesday 

MARIANNE WILLIAMSON, author

  • Entered race: November 15, 2018
  • Quit: January 10, 2020 

ANDREW YANG, entrepreneur

 

 

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The Pronk Pops Show 1406, March 4, 2020, Story 1: President Trump Wins All 14 States and Over 740 Delegates On Super Tuesday and Has Total Delegates of 859 With 1,276 Delegates Needed To Win Republican Nomination for President — Americans Love A Winner — Videos — Story 2: Democrats Deeply Divided — Democratic Establishment Candidate Creepy Sleepy Dopey Joey Biden vs. Radical Extremist Democratic Socialist (REDS) Bernie Sanders — Lying Lunatic Leftist Losers vs. Trump The Winner — Americans Love A Winner — Videos — Story 3: Containing Circulating COVID-19 Communist Chinese Cough Crisis  Chaos — Do Not Touch Your Face and Wash Your Hands to Prevent Droplet Spreading and Infecting — Videos — Story 4: Federal Reserve Cuts Target Federal Fund Rate By 50 Basis Points or .5% To 1.00% to 1.25% — Return of Easy Monetary Policy — Bubble Blowing — Is Quantitative Easing or Money Printing Next? — Absolutely — Videos– Story 5: United States Stock Market Corrected for Bubble Prices —  Stock Market Prices Surge

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Story 1: President Trump Wins All 14 States and Over 740 Delegates On Super Tuesday and Has Total Delegates of 859 With 1,276 Delegates Needed To Win Republican Nomination for President — Americans Love A Winner — Videos

Patton (1/5) Movie CLIP – Americans Love a Winner (1970) HD

President Trump delivers remarks at CPAC

President Trump speaks at the Conservative Political Action Conference.

President Donald Trump Sweeps Super Tuesday

The president picked up hundreds of delegates in an unsurprising victory in more than a dozen states.

Story 2: Democrats Deeply Divided — Democratic Establishment Candidate Creepy Sleepy Dopey Joey Biden vs. Radical Extremist Democratic Socialist (REDS) Bernie Sanders — Lying Lunatic Leftist Losers vs. Trump The Winner — Americans Love A Winner — Videos

See the source imageSee the source imageSee the source imageSee the source imageSee the source imageSee the source image

Super Tuesday results show clear two-man race for Democratic nomination

Rubio on Biden vs. Sanders: It’s either old Obama policies or Marxism

Trump calls Warren ‘selfish’ for staying in 2020 race

Mike Bloomberg drops out of the 2020 race

Gowdy: Biden only looks moderate because he is next to Bernie

NOT A JOKE: Biden Has Dementia?! | Louder with Crowder

 

Mike Bloomberg QUITS 2020 race after disastrous Super Tuesday saying winning is ‘impossible’ after spending $1 BILLION for just 44 delegates – and immediately endorses Joe Biden, while Elizabeth Warren ‘assesses her path forward’

  • Mike Bloomberg and  Elizabeth Warren are the dramatic losers on Super Tuesday
  • Bloomberg quit at 10.11am having spent $1 billion to only win 44 delegates
  • Warren came in third in her own state of Massachusetts and came in third in nearby Maine too; aides said she was ‘assessing the path forward’
  • Dramatic count in Texas ends with Joe Biden winning the state – securing a sensational comeback from the political dead after he joked: ‘They don’t call it Super Tuesday for nothing.’ 
  • Bernie Sanders seized a victory in California in the last act of a dramatic Super Tuesday which saw Joe Biden win state after state in landslides across the nation – only for his rival to take the biggest prize of all 
  • Biden started Super Tuesday off strong, sweeping a swath of the south after first winning Virginia then picking up North Carolina, Alabama, Oklahoma, Tennessee, Minnesota, Arkansas, Massachusetts and Texas
  • Sanders currently has four states under his belt: California, Vermont, Utah and Colorado 
  • Both Sanders and Biden claimed victory, and both said they will take the nomination 
  • The path to the nomination in Milwaukee now runs through a mini-Super Tuesday on March 10, when Missouri, Michigan, Washington and Mississippi vote

Mike Bloomberg dramatically quit the presidential race Wednesday morning after a disastrous Super Tuesday and immediately backed Joe Biden.

The billionaire gained just 44 delegates by 10.11am, the time he announced his departure – but ran up a bill of $1 billion.

He immediately and whole-heartedly backed Biden, the night’s big winner, hinting that his vast fortune is now at the former vice-president’s disposal.

‘I’ve always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it,’ he said.

‘I’ve known Joe for a very long time. I know his decency, his honesty, and his commitment to the issues that are so important to our country – including gun safety, health care, climate change, and good jobs.

‘Today I am glad to endorse him – and I will work to make him the next President of the United States.’

Democrats are also urging Elizabeth Warren to drop out after further pulling votes from frontrunners Biden and Bernie Sanders without winning any states – including her home of Massachusetts.

She was reported by NBC News to he holding talks with aides about ‘the path forward,’ suggesting that she too is on the brink.

And in yet another blow to Warren early Wednesday morning, Biden was declared winner in Maine, the last of the 14 Super Tuesday states to declare – and Warren did not even get the 15 per cent threshold to pick up delegates there.

In the White House Donald Trump took time out of the coronavirus crisis to send a string of mocking tweets about his richer would-be rival and notably about Bloomberg’s campaign aide Tim O’Brien. Trump had tried and failed to sue O’Brien for libel for writing in 2006 that he was not a real billionaire.

Bloomberg had been a late bloomer to the race.

Seeing the relative weakness of frontrunner Biden, and after first saying he would not run for the White House in 2020 the billionaire decided to jump in after all around Thanksgiving.

Out: Mike Bloomberg quit the race hours after a drubbing, saying: 'After yesterday’s results, the delegate math has become virtually impossible – and a viable path to the nomination no longer exists.'

Out: Mike Bloomberg quit the race hours after a drubbing, saying: ‘After yesterday’s results, the delegate math has become virtually impossible – and a viable path to the nomination no longer exists.’

Still not out: Elizabeth Warren - who lost her home state of Massachusetts to both Joe Biden and Bernie Sanders Tuesday night

 

 

 

I’M ALL IN FOR JOE – HOW BLOOMBERG QUIT

This is Bloomberg’s statement as he left the race  

Three months ago, I entered the race for President to defeat Donald Trump. 

Today, I am leaving the race for the same reason: to defeat Donald Trump – because it is clear to me that staying in would make achieving that goal more difficult.

I’m a believer in using data to inform decisions. After yesterday’s results, the delegate math has become virtually impossible – and a viable path to the nomination no longer exists. 

But I remain clear-eyed about my overriding objective: victory in November. 

Not for me, but for our country. And so while I will not be the nominee, I will not walk away from the most important political fight of my life. 

I’ve always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it. 

After yesterday’s vote, it is clear that candidate is my friend and a great American, Joe Biden. 

I’ve known Joe for a very long time. I know his decency, his honesty, and his commitment to the issues that are so important to our country – including gun safety, health care, climate change, and good jobs. 

I’ve had the chance to work with Joe on those issues over the years, and Joe has fought for working people his whole life. 

Today I am glad to endorse him – and I will work to make him the next President of the United States. 

Like another former New York City Mayor, Rudy Giuliani, who ran for the White House in 2008, Bloomberg decided to skip the first states that held primaries – Iowa, New Hampshire, Nevada and South Carolina.

But a change in the Democratic National Committee rules allowed for Bloomberg to still make the Las Vegas debate stage last month.

It was the first time for American voters to see Bloomberg the candidate outside the flurry of television ads his hundreds of millions had bought.

And while the expectation was for Sanders, a democratic socialist, to push back on Bloomberg being there, within the first 10 minutes Warren brought up some of the alleged sexist behavior from the ex-mayor’s past.

‘I’d like to talk about who we’re running against: A billionaire who calls women ‘fat broads’ and ‘horse-faced lesbians.’ And no, I’m not talking about Donald Trump. I’m talking about Mayor Bloomberg,’ Warren said. ‘Democrats are not going to win if we have a nominee who has a history of hiding his tax returns, of harassing women, and of supporting racist policies like redlining and stop and frisk.’

Warren’s debate performance was the beginning of the end.

The results of the single-biggest primary contest night essentially narrowed the field to a two-horse race with Biden edging Sanders.

On Super Tuesday, 14 states and the U.S. territory of American Samoa voted, and Bloomberg only walked away with a win in Samoa – where six delegates were up for grabs.

Every other state was won by either the former vice president or senator from Vermont.

The scale of Biden’s comeback is not in doubt – and neither is Sanders’ ability to keep going, possibly even to the convention in Milwaukee in July.

Biden began by winning state after state, and appeared to stumble when California went to Sanders just after the polls closed there at 8pm – 11pm Eastern.

For the two frontrunners, Sanders’ win in California initially threatened to upend the narrative of the night being a sensational comeback for Biden.

However, the state may yet deliver the kind of resounding win or delegate haul for Sanders that had been forecast.

Sanders had a strong lead, with 87 per cent of the vote in, Biden was running nearly 9 points ahead, and the Vermont senator had garnered over a million votes. In California, Bloomberg also slipped below the 15 per cent threshold he would need to hit in order to collect delegates.

There was a dramatic race playing out through the night in Texas, the night’s second biggest prize. Biden opened up a lead over Sanders early Wednesday morning.

By the time the race was called around 2 am, he was leading Sanders by 50,000 votes, with 89 per cent reporting. Biden was at 33 percent, Sanders was at 30 per cent, and Bloomberg was at 15 per cent – just enough to earn delegates.

As votes continued to come in Wednesday morning, Bloomberg had slipped below that 15 per cent.

There were long lines in Harris County, home to Houston, where Biden was running up strong margins. As in southern states, Biden was running up big margins with the state’s African American voters, but Sanders heavily targeted Latino voters in the state. Biden’s margin, however was bigger.

Some voters were online for six hours, in a state that had pared back polling locations. Biden cleaned up among those who decided who to back late – winning the group 49 to 20 per cent in the state.

Virginia Gov. Terry McAuliffe called it ‘astounding,’ noting that Biden didn’t spend ‘a penny’ there, speaking on CNN.

Biden staged a dramatic rally in Dallas Monday where he secured endorsements from former presidential rivals Amy Klobuchar and Beto O’Rourke. Earlier Monday, Pete Buttigieg had also endorsed the former vice president.

O’Rourke later took Biden out to a Whataburger, a regional chain, for a milkshake.

Across the map there were signs of Biden’s sudden revival.

Biden dealt a humiliating blow to Warren in her home state of Massachusetts – snagging at least 28 delegates out of the state and beating her in her backyard. She vowed to stay in the race all the way to the conventions even as more centrist candidates flocked to 77-year-old former vice president.

He also denied the prize to Sanders, who hails from a neighboring state.

Bloomberg was born there, and had actor Michael Douglas stumping for him in Boston.

But the region where he dominated was the south, with wins stretching from Virginia to Tennessee, Arkansas, Alabama, North Carolina, and Oklahoma. Biden scored a surprise win in Minnesota.

Warren, hosting a rally in downtown Detroit, called herself ‘the woman who’s going to beat Donald Trump.’

The final details of delegate distribution were yet to be determined as the night wore on. But Biden’s overwhelming performance, and the collapse of Bloomberg and Warren, immediately reset the race, with the prospect that Sanders and his political ‘revolution’ would be up against a long slog against the Demoratic establishment-backed candidate as he was against Hillary Clinton in 2016.

Biden rushed to win after win early in the night, with Virginia, North Carolina and Alabama falling in rapid succession.

He took Minnesota without spending a dime on advertising and despite being third in the polls until Amy Klobuchar dropped out on Sunday. She endorsed Biden on Monday.

‘Prediction has been a terrible business and pundits have gotten it wrong over and over,’ she said. ‘Here’s my advice. Cast a vote that will make you proud.’

Then Sanders took some western wins in Utah and Colorado and snared the biggest state of all.

Bernie Sanders seized a victory in California in the last act of a dramatic Super Tuesday which saw Joe Biden win state after state in landslides across the nation – only for his rival to take the biggest prize of all

Bernie Sanders seized a victory in California in the last act of a dramatic Super Tuesday which saw Joe Biden win state after state in landslides across the nation – only for his rival to take the biggest prize of all

Biden rushed to win after win early in the night, with Virginia, North Carolina and Alabama falling in rapid succession. He took Minnesota without spending a dime on advertising and despite being third in the polls until Amy Klobuchar dropped out on Sunday

As Biden raced to a series of state victories, Mike Bloomberg's campaign said he plans to 'reassess' whether he should stay in the race tomorrow. His aides said his campaign chiefs were considering their next move. Dropping out would hand a huge victory to Biden and also the potential for Bloomberg's almost unlimited resources to be thrown behind him immediately

s Biden raced to a series of state victories, Mike Bloomberg’s campaign said he plans to ‘reassess’ whether he should stay in the race tomorrow. His aides said his campaign chiefs were considering their next move. Dropping out would hand a huge victory to Biden and also the potential for Bloomberg’s almost unlimited resources to be thrown behind him immediately

TRUMP ROASTS HIS RIVALS AND TOASTS HIS OWN SUCCESS

Donald Trump skewered his critics while toasting his own successes on Twitter as results rolled in from Super Tuesday ballots across the country.

The President reserved most of his ire for ‘Mini’ Mike Bloomberg and Elizabeth ‘Pocahontas’ Warren, who both had poor showings in the polls.

Hitting out at fellow New York billionaire Bloomberg, Trump branded him ‘the biggest loser of the night, by far’.

‘His ‘political’ consultants took him for a ride,’ Trump tweeted.

‘$700 million washed down the drain, and he got nothing for it but the nickname Mini Mike, and the complete destruction of his reputation. Way to go Mike!’

Trump also took aim at Warren after she failed to win her home state of Massachusetts, landing her a distant third in the delegate stakes.

‘Elizabeth ‘Pocahontas’ Warren, other than Mini Mike, was the loser of the night. She didn’t even come close to winning her home state of Massachusetts,’ he wrote.

While Trump made sure to put down his rivals, he donated most of his energy to cheering his own successes – albeit while facing token opposition.

As each win rolled in he tweeted out a message of thanks to his supporters, while vowing to retake the presidency in November.

In Los Angeles, before California was called for Sanders, Biden took to the stage and cast himself the victor, regardless if Sanders took both California and Texas.

First, he mixed up his wife Jill and sister Valerie, a characteristic gaffe which has clearly done nothing to put off Democratic voters.

Biden declared: ‘It’s a great night and it seems to be getting even better. They don’t call it Super Tuesday for nothing!’

The former vice president recalled how just days ago the suggestion was that Super Tuesday would mark the end of his campaign.

‘Well it may be over for the other guy,’ Biden said, a clear shot at Sanders.

Energized, coherent and not put off even by two militant vegan protesters who ran onto the stage to protest against the dairy industry, he painted himself as the one Democrat who can take on Trump.

‘A lifelong Democrat, an Obama-Biden Democrat,’ he said to cheers – a pointed way to contrast himself to Sanders, who is an independent senator.

Jill Biden was captured in a photograph grabbing the protester by the arm and grimacing.  Symone Sanders, Sanders’ former press secretary who’s not a top Biden adviser, had rushed across the stage to pull a protester off.

It was a return in part to the early days of the race, when Biden held a strong polling lead before the first states voted and caucused. With Sanders on the rise days ago and party leaders warning the democratic socialist could seize the nomination Tuesday, forces coalesced around Biden in South Carolina.

A key factor was the endorsement there of James C. Clyburn, the state’s most senior African American elected official.

In Vermont, Sanders pinned his hopes on California, pivoting to a victory speech and a string of attacks on Biden.

‘Tonight I tell you with absolute confidence we are going to win the Democratic nomination,’ he said.

The path to the nomination in Milwaukee now runs through a mini-Super Tuesday on March 10, when Missouri, Michigan, Washington and Mississippi vote.

Sanders had appeared to be ahead in Michigan but Biden’s upset in Minnesota is likely to weigh heavily there, and the combined demographic of African-Americans and disaffected blue collar voters could play to Biden’s strengths.

The following Tuesday, March 17, offers another selection of massive delegate counts when Florida, Illinois and Ohio all vote, along with Arizona.

The following week, March 24, sees Georgia vote, which Biden’s southern firewall should make a surefire victory.

For Sanders, the loss of momentum from a rocky Super Tuesday could be critical.

In 2016 he stayed in by rallying his base and railing against an ‘establishment’ determined not to give him the nomination and to install an ‘inevitable’ candidate in Hillary Clinton.

That may be more difficult as he faces in Biden an opponent whose comeback narrative offers him some of the advantages of the underdog, and whose narrative of empathy and standing up for those who were left behind overlaps with Sanders’ more radical rhetoric.

The string of endorsements Biden has garnered in the last few days from centrist party figures, including three of his former rivals, have been crucial in driving momentum.

In Los Angeles, before California was called for Sanders', Biden took to the stage and cast himself the victor, regardless if Sanders took California and Texas

Energized, coherent and not put off even by two militant vegan protesters (pictured) who ran onto the stage to protest against the dairy industry, Biden painted himself as the one Democrat who can take on Trump

Energized, coherent and not put off even by two militant vegan protesters (pictured) who ran onto the stage to protest against the dairy industry, Biden painted himself as the one Democrat who can take on Trump

Biden's early lead caused a dramatic shift and left Sanders, until last week the frontrunner, clinging to the hope of doing well in California before polls closed in the nation's most populous state. Shortly after polls in California closed, he was named the winner

Biden's campaign had suggested that the key to Super Tuesday was to minimize Sanders' lead and a Virginia victory appeared to put them on the path to that goal. The sign of momentum for the former vice president came as he saw a boost in last-minute opinion polls despite having trailed Sanders in recent weeks

WARREN LOSES HER HOME STATE

Elizabeth Warren’s campaign for president fell flat on Super Tuesday as she was unable to win even her home state of Massachusetts.

Warren lost to both Joe Biden – whose South Carolina win Saturday night restored his frontrunner status – and Bernie Sanders, who represents neighboring state Vermont. Warren was in third place with 22 per cent of the vote with 70 per cent of the votes counted.

‘Predictions are a terrible business. Pundits have gotten it wrong over and over,’ Warren told the Michigan crowd. ‘Cast a vote that will make you proud. Vote from your heart. And vote for the person who you think will make the best president of the United States.’

During her final rally in California Monday night, Warren dismissed the surging Biden as a same-old, same-old Washington politician.

Sanders supporters cheer as they hear election results during a party held at Central Machine Works Brewery in Austin, Texas

Sanders supporters cheer as they hear election results during a watch party held at Central Machine Works Brewery in Austin, Texas - a state he eventually lost to Biden

Supporters of Bernie Sanders look over Super Tuesday election results at a campaign center in Denver, Colorado

Supporters of Democratic Presidential hopeful Massachusetts Senator Elizabeth Warren attend a rally in Detroit

Tulsi Gabbard, a congresswoman from Hawaii, remains in the race though has only campaigned sporadically. She did make a pitch to voters in American Samoa, where she was born, to vote for her Tuesday

Tulsi Gabbard, a congresswoman from Hawaii, remains in the race though has only campaigned sporadically. She did make a pitch to voters in American Samoa, where she was born, to vote for her Tuesday

People wait to vote during the presidential primary in Santa Monica, California on Super Tuesday

People wait to vote during the presidential primary in Santa Monica, California on Super Tuesday

Voters cast their ballots in the Democratic presidential primary election at a polling place in Armstrong Elementary School o in Herndon, Virginia

Rochelle Marks, 77, votes at a polling station on Super Tuesday in Beverly Hills, California

People line up to vote at a polling station on Super Tuesday in Beverly Hills, California

Students at the University of Vermont Franklin fill out voter registration forms at a polling place on Super Tuesday in Burlington, Vermont. At the close of the polls on Tuesday night, Sanders won his home state

Students at the University of Vermont Franklin fill out voter registration forms at a polling place on Super Tuesday in Burlington, Vermont. At the close of the polls on Tuesday night, Sanders won his home state

Voters cast their ballots at a polling location inside an elementary school in Minneapolis, Minnesota

Those included former Senate Democratic Leader Harry Reid, former Virginia Gov. Terry McAuliffe, Rep. Veronica Escobar of Texas, Sen. Tammy Duckworth of Illinois, Rep. Don Beyer of Virginia, Rep. Debbie Wasserman Schultz of Florida, former Sen. Barbara Boxer of California and Rep. Jennifer Wexton of Virginia, among others.

Now Biden will have Bloomberg out of his way in order to capture more moderate voters – and Bloomberg’s commitment to help him remove Trump from office.

President Trump, for his part, touted his string of Republican primary victories Tuesday night, tweeting his thanks after state after state was called in his favor.

The president only had token competition – former Massachusetts Gov. Bill Weld – in the Super Tuesday contests and one state, Virginia, canceled its GOP primary as Trump, like most incumbent presidents, is easily expected to win his party’s nomination.

Trump has played armchair pundit on Twitter as he’s watched the shake-up on the Democratic side.

‘Elizabeth “Pocahontas” Warren, other than Mini Mike, was the loser of the night. She didn’t even come close to winning her home state of Massachusetts. Well, now she can just sit back with her husband and have a nice cold beer!’ Trump tweeted early Wednesday.

The president relished the news that Bloomberg had bowed out.

‘Mini Mike Bloomberg just “quit” the race for President. I could have told him long ago that he didn’t have what it takes, and he would have saved himself a billion dollars, the real cost,’ Trump wrote. ‘Now he will pour money into Sleepy Joe’s campaign, hoping to save face.’

‘It won’t work!’ Trump said.

Biden talks with actor and comedian Keegan-Michael Key as he campaigns before his evening rally on Super Tuesday in LA

Meanwhile Bernie Sanders, who was earning frontrunner status, spoke to thousands at his rallies in Super Tuesday states including one Monday night in Minneapolis. With Amy Klobuchar out, her state is up for grabs

On Monday night at a really in Los Angeles Warren pitched herself as the candidate who could split the difference between Biden and Sanders. 'Voters deserve a choice of someone with unshakeable values who can also get things done and bring all kinds of Democrats along with her,' she argued

Voters from 14 states head to the polls on 'Super Tuesday,' with about a third of Democratic delegates at stake in a single day

WHO ARE THE 4 DEMOCRATS RUNNING FOR PRESIDENT IN 2020?

 

JOE BIDEN

Age on Inauguration Day 2021: 78

Entered race: April 25, 2019

Career: No current role. A University of Delaware and Syracuse Law graduate, he was first elected to Newcastle City Council in 1969, then won upset election to Senate in 1972, aged 29. Was talked out of quitting before being sworn in when his wife and daughter died in a car crash and served total of six terms. Chaired Judiciary Committee’s notorious Clarence Thomas confirmation hearings. Ran for president in 1988, pulled out after plagiarism scandal, ran again in 2008, withdrew after placing fifth in the Iowa Caucuses. Tapped by Obama as his running mate and served two terms as vice president. Contemplated third run in 2016 but decided against it after his son died of brain cancer.

Family: Eldest of four siblings born to Joe Biden Sr. and Catherine Finnegan. First wife Neilia Hunter and their one-year-old daughter Naomi died in car crash which their two sons, Joseph ‘Beau’ and Robert Hunter survived. Married Jill Jacobs in 1976, with whom he has daughter Ashley. Beau died of brain cancer in 2015. Hunter’s marriage to Kathleen Buhle, with whom he has three children, ended in 2016 when it emerged Hunter was in a relationship with Beau’s widow Hallie, mother of their two children. Hunter admitted cocaine use; his estranged wife accused him of blowing their savings on drugs and prostitutes

Religion: Catholic

Views on key issues: Ultra-moderate who will emphasize bipartisan record. Will come under fire over record, having voted: to stop desegregation bussing in 1975; to overturn Roe v Wade in 1981; for now controversial 1994 Violent Crime Act; for 2003 Iraq War; and for banking deregulation. Says he is ‘most progressive’ Democrat. New positions include free college, tax reform, $15 minimum wage. No public position yet on Green New Deal and healthcare. Pro-gun control. Has already apologized to women who say he touched them inappropriately

Would make history as: Oldest person elected president

Slogan: Our Best Days Still Lie Ahead

 

TULSI GABBARD

Age on Inauguration Day: 39

Entered race: Still to formally file any papers but said she would run on January 11 2019

Career: Currently Hawaii congresswoman. Born on American Samoa, a territory. Raised largely in Hawaii, she co-founded an environmental non-profit with her father as a teenager and was elected to the State Legislature aged 21, its youngest member in history. Enlisted in the National Guard and served two tours, one in Iraq 2004-2006, then as an officer in Kuwait in 2009. Ran for Honolulu City Council in 2011, and House of Representatives in 2012

Family: Married to her second husband, Abraham Williams, a cinematographer since 2015. First marriage to childhood sweetheart Eduardo Tamayo in 2002 ended in 2006. Father Mike Gabbard is a Democratic Hawaii state senator, mother Carol Porter runs a non-profit.

Religion: Hindu

Views on key issues: Has apologized for anti-abortion and anti-gay marriage views; wants marijuana federally legalized; opposed to most U.S. foreign interventions; backs $15 minimum wage and universal health care; was the second elected Democrat to meet Trump after his 2016 victory

Would make history as: First female, Hindu and Samoan-American president; youngest president ever

Slogan: Lead with Love 

 

BERNIE SANDERS

Age on Inauguration Day: 79

Entered race: Sources said on January 25, 2019, that he would form exploratory committee. Officially announced February 19

Career: Currently Vermont senator. Student civil rights and anti-Vietnam activist who moved to Vermont and worked as a carpenter and radical film-maker. Serial failed political candidate in the 1970s, he ran as a socialist for mayor of Burlington in 1980 and served two terms ending in 1989, and win a seat in Congress as an independent in 1990. Ran for Senate in 2006 elections as an independent with Democratic endorsement and won third term in 2018. Challenged Hillary Clinton for the Democratic nomination in 2016 but lost. Campaign has since been hit by allegations of sexual harassment  – for which he has apologized – and criticized for its ‘Bernie bro’ culture

Family: Born to a Jewish immigrant father and the daughter of Jewish immigrant parents in Brooklyn, New York. First marriage to college sweetheart Deborah Shiling Messing in 1964 ended in divorce in 1966; had son Levi in 1969 with then girlfriend Susan Cambell Mott. Married Jone O’Meara in 1988 and considers her three children, all adults, his own. The couple have seven grandchildren. His older brother Larry is a former Green Party councilor in Oxfordshire, England. 

Religion: Secular Jewish 

Views on key issues: Openly socialist and standard bearer for the Democratic party’s left-turn. Wants federal $15 minimum wage; banks broken up; union membership encouraged; free college tuition; universal health care; re-distributive taxation; he opposed Iraq War and also U.S. leading the fight against ISIS and wants troops largely out of Afghanistan and the Middle East

Would make history as: Oldest person elected president; first Jewish president

Slogan: Not me. Us.

ELIZABETH WARREN

Age on Inauguration Day: 71

Entered race:  Set up exploratory committee December 31, 2018

Career: Currently Massachusetts senator. Law lecturer and academic who became an expert on bankruptcy law and tenured Harvard professor. Ran for Senate and won in 2012, defeating sitting Republican Scott Brown, held it in 2018 60% to 36%. Was short-listed to be Hillary’s running mate and campaigned hard for her in 2016

Family: Twice-married mother of two and grandmother of three. First husband and father of her children was her high-school sweetheart. Second husband Bruce Mann is Harvard law professor. Daughter Amelia Tyagi and son Alex Warren have both been involved in her campaigns. Has controversially claimed Native American roots; DNA test suggested she is as little as 1,064th Native American

Religion: Raised Methodist, now described as Christian with no fixed church

Views on key issues: Was a registered Republican who voted for the party but registered as a Democrat in 1996. Pro: higher taxes on rich; banking regulation; Dream Act path to citizenship for ‘dreamers’; abortion and gay rights; campaign finance restrictions; and expansion of public provision of healthcare – although still to spell out exactly how that would happen. Against: U.S. presence in Afghanistan and Syria; liberalization of gambling

Would make history as: First female president 

Slogan: Warren Has A Plan For That

https://www.dailymail.co.uk/news/article-8074295/Democrats-tell-Mike-Bloomberg-Elizabeth-Warren-quit-Joe-Bidens-dramatic-comeback.html

 

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What’s New

You can also keep up with CDC updates on Coronavirus Disease 2019 by signing up for email updatessyndicating available content, and subscribing to Coronavirus Disease 2019 RSS Feed.

 

https://www.cdc.gov/coronavirus/2019-ncov/whats-new-all.html

 

10 Things to Know About CORONAVIRUS COVID-19 + TOP 3 SOURCES to Follow—For

Family & Friends

These are the 10 things you MUST KNOW about CORONAVIRUS COVID-19 to keep your family safe. The video also explains why you should take this outbreak seriously and where to go for CREDIBLE INFORMATION to help you stay ahead of the news curve.

1) Coronavirus Covid-19 is not the flu, it’s not SARS, and it’s not MERS. It’s a completely new virus.

2) Coronavirus Covid-19 is 20x deadlier than the flu.

3) Although 81% of people experience mild symptoms, Coronavirus Covid-19 has a high complication rate.

4) If you contract the virus and you’re older, your chances of dying are higher. But young people in their 20’s and 30’s have died too, so don’t be complacent.

5) Coronavirus Covid-19 can have a very long incubation period, and it spreads asymptomatically.

6) Coronavirus Covid-19 spreads via droplets in the air and AEROSOL!

7) The R0 factor of this virus is incredibly high.

8) There have been reports out of Asia of people getting Covid-19 again, so recovering once does not guarantee immunity afterward.

9) In the United States, we are in the early part of the curve, where it looks like nothing much is happening.

10) Vaccines are not yet available and probably won’t be for 6-18 months, no matter what you read in the headlines.

*****3 TO FOLLOW***** Chris Martenson, Peak Prosperity: https://www.youtube.com/watch?v=QVQC1…

Dr. Roger Seheult, MedCram: https://www.youtube.com/watch?v=quDYb…

Dr. John Campbell, Retired: https://www.youtube.com/watch?v=cmIRM…

*****SOURCES***** Lessons from the Coronavirus outbreak in China 2019: https://jamanetwork.com/journals/jama…

Age of Coronavirus deaths: https://www.worldometers.info/coronav…

Outbreak country charts: https://www.zerohedge.com/geopolitica…

Why some Covid-19 cases are worse than others: https://www.the-scientist.com/news-op…

Too early to compare Coronavirus to Flu: https://www.pbs.org/newshour/health/w…

Covid-19 Coronavirus reinfection in Japan raises questions:

https://www.japantimes.co.jp/news/202… #coronavirus #covid19

 

 

WHO says coronavirus death rate is 3.4% globally, higher than previously thought

  • World health officials say the mortality rate for COVID-19 is 3.4% globally, higher than previous estimates of about 2%.
  • “Globally, about 3.4% of reported COVID-19 cases have died,” WHO Director-General Tedros Adhanom Ghebreyesus said during a press briefing at the agency’s headquarters in Geneva.

World health officials said Tuesday the mortality rate for COVID-19 is 3.4% globally, higher than previous estimates of about 2%.

“Globally, about 3.4% of reported COVID-19 cases have died,” WHO Director-General Tedros Adhanom Ghebreyesus said during a press briefing at the agency’s headquarters in Geneva. In comparison, seasonal flu generally kills far fewer than 1% of those infected, he said.

The World Health Organization had said last week that the mortality rate of COVID-19 can differ, ranging from 0.7% to up to 4%, depending on the quality of the health-care system where it’s treated. Early in the outbreak, scientists had concluded the death rate was around 2.3%.

During a press briefing Monday, WHO officials said they don’t know how COVID-19 behaves, saying it’s not like influenza. They added that while much is known about the seasonal flu, such as how it’s transmitted and what treatments work to suppress the disease, that same information is still in question when it comes to the coronavirus.

“This is a unique virus, with unique features. This virus is not influenza,” Tedros said Monday. “We are in uncharted territory.”

Dr. Mike Ryan, executive director of WHO’s health emergencies program, said Monday that the coronavirus isn’t transmitting the same exact way as the flu and health officials have been given a “glimmer, a chink of light” that the virus could be contained. 

“Here we have a disease for which we have no vaccine, no treatment, we don’t fully understand transmission, we don’t fully understand case mortality, but what we have been genuinely heartened by is that unlike influenza, where countries have fought back, where they’ve put in place strong measures, we’ve remarkably seen that the virus is suppressed,” Ryan said.

Do face masks work? Medical experts explain how to protect yourself from coronavirus

KEY POINTS
  • Epidemiologists and infectious disease experts have been at pains to emphasize against an unwarranted scramble for face masks in recent weeks.
  • South Korea, Italy and Iran have all recorded sharp upticks in cases of the coronavirus in recent days, with many other countries imposing travel restrictions on virus-hit areas worldwide.
  • Infections have now been reported in every continent except Antarctica.

GP: CHINA-HEALTH-VIRUS - 106419119 200203 EU

This photo taken on February 28, 2020 shows workers producing face masks at a factory in Handan in China’s northern Hebei province.
STR | AFP via Getty Images

Medical experts have urged people to stop panic buying face masks, warning that such equipment is not an effective way to protect yourself from the fast-spreading coronavirus.

The advice comes at a time of intensifying concern about COVID-19, which has killed more than 3,000 people worldwide since late last year.

The outbreak was first identified in Hubei province, China, where over 90% of the deaths have been reported. More recently, the virus has been spreading at a faster rate outside China than inside the country.

VIDEO02:38
Face mask shortage sparks global race to fulfill orders

The WHO has declared the outbreak a global health emergency, with almost 60 countries reporting cases of the coronavirus.

Epidemiologists and infectious disease experts have been at pains to emphasize against an unwarranted scramble for face masks in recent weeks, particularly because such hoarding behavior elevates the prospect of an equipment shortage for medical workers.

“Seriously people — STOP BUYING MASKS!” U.S. Surgeon General Jerome Adams said via Twitter over the weekend.

“They are NOT effective in preventing general public from catching coronavirus, but if healthcare providers can’t get them to care for sick patients, it puts them and our communities at risk!”

U.S. Surgeon General

@Surgeon_General

Seriously people- STOP BUYING MASKS!

They are NOT effective in preventing general public from catching , but if healthcare providers can’t get them to care for sick patients, it puts them and our communities at risk!
http://bit.ly/37Ay6Cm 

Coronavirus Disease 2019 (COVID-19)

Coronavirus disease 2019 (COVID-19) is a virus (more specifically, a coronavirus) identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China.

cdc.gov

47.8K people are talking about this

The warning from America’s top doctor is consistent with medical advice from the U.S. Centers for Disease Control and Prevention, which has said there is no evidence to support wearing face masks.

Instead, Adams said “the best way to protect yourself and your community is with everyday preventative actions, like staying home when you are sick and washing hands with soap and water, to help slow the spread of the respiratory illness.”

‘Not a lot of evidence’ to support wearing face masks

It has been suggested wearing face masks could be useful if you’re sick in order to prevent you from sneezing or coughing into somebody’s face, David Heymann, who led WHO’s infectious disease unit at the time of the SARS epidemic in 2002-2003, said at a Chatham House press briefing last month.

But, “a mask that is used to stop getting an infection is sometimes not very effective because people take it off to eat, many times they are worn improperly (and) if they get wet and somebody sneezes on that mask it could pass through.

So, there is really not a lot of evidence (to support wearing masks).”

GP: THAILAND-CHINA-HEALTH-VIRUS 200204 EU
Children with face masks wash their hands before prayer at Erawan shrine, a popular spritual landmark in Bangkok on January 27, 2020.
MLADEN ANTONOV | AFP via Getty Images

“One of the most important ways of stopping respiratory outbreaks such as this is washing hands,” Heymann continued.

That’s because “if you touch a patient, if you shake hands, if you touch a door that has a droplet on it — which could theoretically happen — then you touch your face (or) your mouth and you become infected.”

“So, handwashing is the most important. And second is, people who are suspected as being patients, be very careful when you are dealing with them. Avoid face-to-face contact and wash hands when you’re treating,” Heymann said.

“It is very important that people understand that they can prevent themselves from being infected if they follow a few simple measures,” he added.

‘Don’t touch your face’

South Korea, Italy and Iran have all recorded sharp upticks in cases of the coronavirus in recent days, with many other countries imposing travel restrictions on virus-hit areas worldwide.

Infections have now been reported in every continent except Antarctica.

Emily Landon, medical director for infection control at the University of Chicago Medical Center, told CNBC late last week that face masks were “not a great choice” for everyday use.

“First of all, there are multiple different kind of face masks. There is the surgical mask that people wear that doesn’t really seal up very well. That’s super good if you put it on the patient who’s sick because that will contain their secretions and protect everyone around them.”

“However, if you are the one who wants to protect yourself, those N95 masks … are much better,” Landon said.

Face masks should be worn by people who show symptoms: University of Chicago Medical Director
“You need to be fit-tested in order to know exactly which size you should be wearing, you have to be trained on how to wear it properly and they can get pretty uncomfortable, so they are not a great choice for just going out in the public,” she continued.

“Keeping your hands clean so that you don’t touch your face no matter what things you are touching with your hands is a really important piece of preventing infection in hospitals, in schools and everywhere you go.”

“Soap and water works really well. It can dry your hands out a little bit more but when you do it, you want to do it right. That means getting your hands wet with warm water, cleaning them, getting all of the surfaces with soap for 20 seconds — that’s a full time through ‘Happy Birthday’ — and then also rinsing them off afterwards,” Landon said.

https://www.cnbc.com/2020/03/02/coronavirus-do-face-masks-work-and-how-to-stop-it-from-spreading.html?recirc=taboolainternal

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https://www.cnbc.com/2020/03/03/dow-futures-show-300-point-pop-as-early-super-tuesday-results-favor.html

 

 

Trump Job Approval Relapses Amid Coronavirus Threat: IBD/TIPP Poll

Impeachment couldn’t stop President Donald Trump’s job approval from rising, but the coronavirus might. As Americans’ near-term view of the economy soured in February, amid worry over the coronavirus and a Dow Jones correction, Trump’s job approval rating relapsed.

President Trump Job Approval

Just 41% of Americans approve of how President Trump is handling his job, while 54% disapprove, the March IBD/TIPP Poll finds. That negative 13-point differential has nearly doubled in the past month. In late January, Trump’s job approval registered 44% and disapproval 51%.

Now just 37% of independents give Trump positive reviews, while 57% disapprove. That’s down from 39%-53% in late January.

Trump Job Approval Slumps With Economic Outlook

The drop in Trump’s job approval coincides with a sudden shift in the economic outlook. The U.S. economic outlook just suffered its biggest one-month drop since October 2013 amid spread of the coronavirus, the March IBD/TIPP Poll finds.

The six-month economic outlook index fell to a modestly pessimistic 47.8 from a strongly optimistic 57. Readings above the neutral 50 level reflect optimism.

Trump continues to get positive ratings for his handling of the economy, with 47% approving and 35% disapproving. Still, that’s a big comedown from late January. Back then, 53% of Americans rated his handling of the U.S. economy as good or excellent, while just 28% give him a negative rating.

Trump Slips In Matchups Vs. Democrats

Joe Biden leads Trump 49% to 46%, the March IBD/TIPP Poll finds, after Trump had cut the margin to 49%-48% in late January.

Sanders now leads Trump 49% to 47%, having trailed 47%-49% a month earlier. Warren leads Trump 48% to 46%, a reversal of her 46%-50% deficit.

Still, a narrow popular vote edge would not necessarily translate into an Electoral College victory for Democrats.

Trump leads all Democrats among self-described investors, with a four-point lead over Biden. He leads Sanders by seven points.

The IBD/TIPP Poll reflects responses from 908 adults contacted via mobile phones and landlines from Feb. 20-29 and carries a 3.3-point margin of error.

Please follow Jed Graham on Twitter at @IBD_JGraham for coverage of economic policy and financial markets.

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https://www.investors.com/politics/trump-job-approval-relapses-amid-coronavirus-threat-ibd-tipp-poll/

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The Pronk Pops Show 1404, February 27, 2020, Story 1: All U.S. Stock Market Indices Correcting As Progressive Panic Propaganda Propagates Planet — Great Investment Buying Opportunities Ahead — Videos — Story 2: Chinese Communist Cough Containment Crisis Crashes Capitalism or Communism? — Are You Scared Yet — Not One Bit — Buy On The Correction and Hold On — Government Not The Answer — Government Is The Problem — Videos — Story 3: Coronavirus or COVID-19 Exposed America’s Heavy Reliance On China For Medicines — Trump Administration May Use Defense Production Act To Manufacture Protective Gear — What About Replacing Medicine, Drug and Ingredients  Imported From Communist China By Establishing American Producers in United States As In The Past? — Video

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Story 1: All U.S. Stock Market Indices Correcting As Progressive Panic Propaganda Propagates Planet — Great Investment Buying Opportunities Ahead — Videos — 

Maria Bartiromo warns against knee-jerk reactions to market selloff

Keiser Report: Billionaires re-gifting Some of the Fed’s free money (E1507)

 

Dow plunges 10% from peak and enters correction after largest one-day point drop in HISTORY as coronavirus fears fuel the worst week on Wall Street since the Great Recession

  • US major stock indexes closed down more than 4% for the day on Thursday
  • Markets have now entered correction, or declines from peak of more than 10%
  • Dow dropped 1,190.95 points, the index’s largest one-day point drop in history
  • Follows report of first US community transmission of coronavirus in California 
  • Netflix and other ‘stay at home’ companies saw shares rise, however 

 

U.S. stock indexes plunged dramatically yet again on Thursday, as the rapid spread of the coronavirus outside China deepens investor worries about growth and corporate earnings. 

The Dow Jones Industrial Average plummeted 1,190.95 points, or 4.42 percent, to 25,766.64, the largest one-day point drop in history. It comes during the quickest market plunge on a percentage basis since the financial crisis of October 2008.

The Dow, S&P 500 and Nasdaq all closed more than 10 percent below their recent highs. That means the market is officially in a correction, which is a normal phenomenon that analysts have said was long overdue.    T

At their heart, stock prices rise and fall with the profits that companies expect to make — and Wall Street’s expectations for profit growth are sinking as more companies warn that the virus outbreak will hit their bottom lines

Trader Peter Tuchman reacts at the opening bell on the New York Stock Exchange on Thursday as the Dow opens down another 500 points and the market enters correction territory

Trader Peter Tuchman reacts at the opening bell on the New York Stock Exchange on Thursday as the Dow opens down another 500 points and the market enters correction territory

Adding to worries, the U.S. Centers for Disease Control and Prevention confirmed an infection in California in a person who reportedly did not have relevant travel history or exposure to another known patient.

‘In the recent week, markets have come to realize that the outbreak is much worse and are now realistically pricing in the impact of the virus on the economy,’ said Philip Marey, senior U.S. strategist at Rabobank.

‘In that sense it’s a bit of a catching up from the relative optimism that was there in the beginning when markets thought (the virus) will be contained to China with some minor outbreak outside.’

Rising fears of a pandemic, which U.S. health authorities have warned is likely, have erased about $1.84 trillion off the benchmark S&P 500 this week alone.

Industry analysts and economists continued to sound the alarm as they assessed the impact of the coronavirus, with Goldman Sachs saying U.S. companies will generate no earnings growth in 2020.

Apple and Microsoft, two of the world´s biggest companies, have already said their sales this quarter will feel the economic effects of the virus.

Microsoft’s stock lost 2.8 percent after it told investors that the virus will hurt revenue from its Windows licenses and its Surface devices.

A one-day view of the Dow Jones Industrial Average shows Thursday's punishing losses

A one-day view of the Dow Jones Industrial Average shows Thursday’s punishing losses

A five-day view of the Dow Jones Industrial Average shows the cumulative declines this week

A five-day view of the Dow Jones Industrial Average shows the cumulative declines this week

Traders work during the opening bell at the New York Stock Exchange on Thursday. About five minutes into trading, the Dow Jones Industrial Average was down 1.8 percent

Traders work during the opening bell at the New York Stock Exchange on Thursday. About five minutes into trading, the Dow Jones Industrial Average was down 1.8 percent

Budweiser maker AB InBev projects 10% hit to profits in first quarter due to decline in Chinese sales

The world’s largest brewer Anheuser-Busch InBev forecast a 10 percent decline in first-quarter profit on Thursday after the coronavirus outbreak hit beer sales during the Chinese New Year, sending its shares skidding.

The maker of Budweiser, Corona and Stella Artois said the virus had led to a significant decline in demand in China – both at bars and drinking at home, notably during the Chinese New Year.

AB InBev stock plunged on Thursday after the beer maker said that it expected profits to be down 10% for the first quarter due to slumping Chinese sales

AB InBev stock plunged on Thursday after the beer maker said that it expected profits to be down 10% for the first quarter due to slumping Chinese sales

The outbreak, along with an expected weaker Brazilian market, could lead to a 10 percent drop in first-quarter core profit (EBITDA) on-year, AB InBev said, adding that it expected 2020 core profit growth of between 2 percent and 5 percent, with most expansion occurring in the second half.

The Belgium-based company, which sells more Budweiser in China than in the lager’s key U.S. market, said the disease shaved up to $285 million off its revenue in China in the first two months of this year, 2.3 percent of its first-quarter group revenue last year.

American Airlines plunged 8.5 percent as airlines continue to feel pain from disrupted travel plans and suspended routes. 

Delta Airlines, which is reducing flights to South Korea because of the outbreak in that nation, fell 4.5 percent.

Bank of America slashed its world growth forecast to the lowest level since the peak of the global financial crisis.

Financial warnings also came from Budweiser maker InBev and cloud-computing company Nutanix.

The virus has now infected more than 82,000 people globally and is worrying governments with its rapid spread beyond the epicenter of China.

The price of crude oil fell 4.7 percent. The price has been falling sharply as investors anticipate that demand for energy will wane as the economy slows.

Bond yields continued sliding as investors shifted money into lower-risk assets. The yield on the 10-year Treasury fell further into record low territory, to 1.28% from 1.31% late Wednesday. Gold prices edged higher.

Medical mask makers and ‘stay at home’ companies see shares rise as investors anticipate high demand

A number of companies that could see their business jump if coronavirus reaches epidemic levels in the U.S. saw their shares rise in mid-morning trading on Thursday.

Shares of 3M, which counts surgical masks among its many products, rose 1.5 percent.

Canadian company Alpha Pro Tech, which makes medical protective garments, saw shares skyrocket 57 percent on Thursday.

Chlorox, which makes the popular bleach brand that can be used to sterilize surfaces, was up 2.8 percent. 7

Traders work on the floor of the New York Stock Exchange in New York on Thursday

Netflix stock was up on Thursday, with investors betting that binge-watching at home could become more appealing than going out during an outbreak

Chlorox, which makes bleach that can be used to sterilize surfaces, was also up Thursday

Chlorox, which makes bleach that can be used to sterilize surfaces, was also up Thursday

Gilead Sciences jumped 6.4 percent, as the drugmaker said it had started two late-stage trials to test its experimental antiviral drug, remdesivir, in patients with cases of illness caused by coronavirus.

While travel stocks were punished, companies that focus on ‘stay at home’ products also saw shares rise, as investors anticipated that consumers will be more likely to avoid crowds and remain indoors.

Netflix was up 1.6 percent, with investors betting that binge-watching at home could become more appealing during an outbreak.

Teleconferencing company Teladoc, which offers remote medical consultations with doctors over the internet, surged 19.8 percent.

Story 2: Chinese Communist Cough Containment Crisis Crashes Capitalism or Communism? — Are You Scared Yet — Not One Bit — Buy On The Correction and Hold On — Government Not The Answer — Government Is The Problem — Videos —

Outbreak starts to look more like worldwide economic crisis

11 minutes ago

The coronavirus outbreak began to look more like a worldwide economic crisis Friday as anxiety about the infection emptied shops and amusement parks, canceled events, cut trade and travel and dragged already slumping financial markets even lower.

More employers told their workers to stay home, and officials locked down neighborhoods and closed schools. The wide-ranging efforts to halt the spread of the illness threatened jobs, paychecks and profits.

“This is a case where in economic terms the cure is almost worse than the disease,″ said Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics. “When you quarantine cities … you lose economic activity that you’re not going to get back.′

The list of countries touched by the illness climbed to nearly 60 as Mexico, Belarus, Lithuania, New Zealand, Nigeria, Azerbaijan, Iceland and the Netherlands reported their first cases. More than 83,000 people worldwide have contracted the illness, with deaths topping 2,800.

China, where the outbreak began in December, has seen a slowdown in new infections and on Saturday morning reported 427 new cases over the past 24 hours along with 47 additional deaths. The city at the epicenter of the outbreak, Wuhan, accounted for the bulk of both.

New cases in mainland China have held steady at under 500 for past four days, with almost all of them in Wuhan and its surrounding Hubei province.

With the number of discharged patients now greatly exceeding those of new arrivals, Wuhan now has more than 5,000 spare beds in 16 temporary treatment centers, Ma Xiaowei, director of the National Health Commission, told a news conference in Wuhan on Friday.

South Korea, the second hardest hit country, on Saturday morning reported 571 new cases, the highest daily jump since confirming its first patient in late January. Emerging clusters in Italy and in Iran, which has had 34 deaths and 388 cases, have led to infections of people in other countries. France and Germany were also seeing increases, with dozens of infections.

The head of the World Health Organization on Friday announced that the risk of the virus spreading worldwide was “very high,” citing the “continued increase in the number of cases and the number of affected countries.”

U.N. Secretary-General Antonio Guterres urged all governments to “do everything possible to contain the disease.”

“We know containment is possible, but the window of opportunity is narrowing,” the U.N. chief told reporters in New York.

The economic ripples have already reached around the globe.

Stock markets around the world plunged again Friday. On Wall Street, the Dow Jones index took yet another hit, closing down nearly 360 points. The index has dropped more than 14% from a recent high, making this the market’s worst week since 2008, during the global financial crisis.

The effects were just as evident in the hush that settled in over places where throngs of people ordinarily work and play and buy and sell.

“There’s almost no one coming here,” said Kim Yun-ok, who sells doughnuts and seaweed rolls at Seoul’s Gwangjang Market, where crowds were thin as South Korea counted 571 new cases — more than in China, where the virus emerged. “I am just hoping that the outbreak will come under control soon.”

In Asia, Tokyo Disneyland and Universal Studios Japan announced they would close, and events that were expected to attract tens of thousands of people were called off, including a concert series by the K-pop group BTS. The state-run Export-Import Bank of Korea shut down its headquarters in Seoul after a worker tested positive for the virus, telling 800 others to work from home. Japanese officials prepared to shutter all schools until early April.

In Italy — which has reported 888 cases, the most of any country outside of Asia — hotel bookings are falling, and Premier Giuseppe Conte raised the specter of recession. Shopkeepers like Flavio Gastaldi, who has sold souvenirs in Venice for three decades, wondered if they could survive the blow.

“We will return the keys to the landlords soon,” he said.

The Swiss government banned events with more than 1,000 people, while at the Cologne Cathedral in Germany, basins of holy water were emptied for fear of spreading germs.

In a report published Friday in the New England Journal of Medicine, Chinese health officials said the death rate from the illness known as COVID-19 was 1.4%, based on 1,099 patients at more than 500 hospitals throughout China.

Assuming there are many more cases with no or very mild symptoms, the rate “may be considerably less than 1%,” U.S. health officials wrote in an editorial in the journal. That would make the virus more like a severe seasonal flu than a disease similar to its genetic cousins SARS, severe acute respiratory syndrome, or MERS, Middle East respiratory syndrome.

Given the ease of spread, however, the virus could gain footholds around the world and many could die.

“It’s not cholera or the black plague,” said Simone Venturini, the city councilor for economic development in Venice, Italy, where tourism already hurt by historic flooding last year has sunk with news of virus cases. “The damage that worries us even more is the damage to the economy.”

Europe’s economy is already teetering on the edge of recession. A measure of business sentiment in Germany fell sharply last week, suggesting that some companies could postpone investment and expansion plans. China is a huge export market for German manufacturers.

In the U.S., online retail giant Amazon said Friday that it has asked all of its 800,000 employees to postpone any non-essential travel, both within the country and internationally.

The chairman of the Federal Reserve, Jerome Powell, said that the U.S. economy remains strong and that policymakers would “use our tools” to support it if necessary.

Larry Kudlow, the top economic advisor to President Donald Trump, told reporters that the selloff in financial markets may be an overreaction to an epidemic with uncertain long-term effects.

“We don’t see any evidence of major supply chain disruptions. I’m not trying to say nothing’s happening. I think there will be impacts, but to be honest with you, at the moment, I don’t see much,” Kudlow said.

The pain was already taking hold in places like Bangkok, where merchants at the Platinum Fashion Mall staged a flash mob, shouting “Reduce the rent!” and holding signs that said “Tourists don’t come, shops suffer.”

Tourist arrivals in Thailand are down 50% compared with a year ago, according Capital Economics, a consulting firm.

Kanya Yontararak, a clothing store owner, said her sales have sunk as low as 1,000 baht ($32) some days, making it a struggle to pay back a loan for her lease. The situation is more severe than the floods and political crises her store has braved in the past.

“Coronavirus is the worst situation they have ever seen,” she said of her fellow merchants.

Economists have forecast global growth will slip to 2.4% this year, the slowest since the Great Recession in 2009, and down from earlier expectations closer to 3%. For the United States, estimates are falling to as low as 1.7% growth this year, down from 2.3% in 2019.

But if COVID-19 becomes a global pandemic, economists expect the impact could be much worse, with the U.S. and other global economies falling into recession.

“If we start to see more cases in the United States, if we start to see people not traveling domestically, if we start to see people stay home from work and from stores, then I think the hit is going to get substantially worse,” said Gus Faucher, an economist at PNC Financial.

After the WHO raised its alert level, the agency’s Emergencies Program Director Michael Ryan called the situation “a reality check for every government on the planet.” Friday. “Wake up, get ready. This virus may be on its way.”

https://apnews.com/7d1a054f19cf1f33b4ee22c244603ebe

 

The Cantillon Effect

Expansionary monetary policy constitutes a transfer of purchasing power away from those who hold old money to whoever gets new money. This is known as the Cantillon Effect, after 18th Century economist Richard Cantillon who first proposed it. In the immediate term, as more dollars are created, each one translates to a smaller slice of all goods and services produced.

How we measure this phenomenon and its size depends how we define money. This is illustrated below.

Here’s GDP expressed in terms of the monetary base:

Here’s GDP expressed in terms of M2:

And here’s GDP expressed in terms of total debt:

What is clear is that the dramatic expansion of the monetary base that we saw after 2008 is merely catching up with the more gradual growth of debt that took place in the 90s and 00s.

While it is my hunch that overblown credit bubbles are better liquidated than reflated (not least because the reflation of a corrupt and dysfunctional financial sector entails huge moral hazard), it is true the Fed’s efforts to inflate the money supply have so far prevented a default cascade. We should expect that such initiatives will continue, not least because Bernanke has a deep intellectual investment in reflationism.

This focus on reflationary money supply expansion was fully expected by those familiar with Ben Bernanke’s academic record. What I find more surprising, though, is the Fed’s focus on banks and financial institutions rather than the wider population.

It’s not just the banks that are struggling to deleverage. The overwhelming majority of nongovernment debt is held by households and nonfinancials:

The nonfinancial sectors need debt relief much, much more than the financial sector. Yet the Fed shoots off new money solely into the financial system, to Wall Street and the TBTF banks. It is the financial institutions that have gained the most from these transfers of purchasing power, building up huge hoards of excess reserves:

There is a way to counteract the Cantillon Effect, and expand the money supply without transferring purchasing power to the financial sector (or any other sector). This is to directly distribute the new money uniformly to individuals for the purpose of debt relief; those with debt have to use the new money to pay it down (thus reducing the debt load), those without debt are free to invest it or spend it as they like.

Steve Keen notes:

While we delever, investment by American corporations will be timid, and economic growth will be faltering at best. The stimulus imparted by government deficits will attenuate the downturn — and the much larger scale of government spending now than in the 1930s explains why this far greater deleveraging process has not led to as severe a Depression — but deficits alone will not be enough. If America is to avoid two “lost decades”, the level of private debt has to be reduced by deliberate cancellation, as well as by the slow processes of deleveraging and bankruptcy.

In ancient times, this was done by a Jubilee, but the securitization of debt since the 1980s has complicated this enormously. Whereas only the moneylenders lost under an ancient Jubilee, debt cancellation today would bankrupt many pension funds, municipalities and the like who purchased securitized debt instruments from banks. I have therefore proposed that a “Modern Debt Jubilee” should take the form of “Quantitative Easing for the Public”: monetary injections by the Federal Reserve not into the reserve accounts of banks, but into the bank accounts of the public — but on condition that its first function must be to pay debts down. This would reduce debt directly, but not advantage debtors over savers, and would reduce the profitability of the financial sector while not affecting its solvency.

Without a policy of this nature, America is destined to spend up to two decades learning the truth of Michael Hudson’s simple aphorism that “Debts that can’t be repaid, won’t be repaid”.

The Fed’s singular focus on the financial sector is perplexing and frustrating, not least because growth remains stagnant, unemployment remains elevated, industrial production remains weak and America’s financial sector remains a seething cesspit of corruption and moral hazardwhere segregated accounts are routinely raided by corrupt CEOs, and where government-backstopped TBTF banks still routinely speculate with the taxpayers’ money.

The corrupt and overblown financial sector is the last sector that deserves a boost in purchasing power. It’s time this ended.

The Cantillon Effect

Richard Cantillon

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Richard Cantillon
Richard Cantillon.png
Born 1680s[1]

Died 1734[2] (aged about 54)

Era Age of Reason
Region Western philosophy
School Physiocracy
Main interests
Political economy
Notable ideas
Entrepreneur as risk-bearer,
monetary theory,
spatial economics,
theory of population growth,
cause and effect methodology
Signature
Richardcantillonsignature.png

Richard Cantillon (French: [kɑ̃tijɔ̃]; 1680s – May 1734) was an Irish-French economist and author of Essai sur la Nature du Commerce en Général (Essay on the Nature of Trade in General), a book considered by William Stanley Jevons to be the “cradle of political economy“.[4] Although little information exists on Cantillon’s life, it is known that he became a successful banker and merchant at an early age. His success was largely derived from the political and business connections he made through his family and through an early employer, James Brydges. During the late 1710s and early 1720s, Cantillon speculated in, and later helped fund, John Law‘s Mississippi Company, from which he acquired great wealth. However, his success came at a cost to his debtors, who pursued him with lawsuits, criminal charges, and even murder plots until his death in 1734.

Essai remains Cantillon’s only surviving contribution to economics. It was written around 1730 and circulated widely in manuscript form, but was not published until 1755. His work was translated into Spanish by Gaspar Melchor de Jovellanos, probably in the late 1770s, and considered essential reading for political economy. Despite having much influence on the early development of the physiocrat and classical schools of thought, Essai was largely forgotten until its rediscovery by Jevons in the late 19th century.[5] Cantillon was influenced by his experiences as a banker, and especially by the speculative bubble of John Law’s Mississippi Company. He was also heavily influenced by prior economists, especially William Petty.

Essai is considered the first complete treatise on economics, with numerous contributions to the science. These contributions include: his cause and effect methodology, monetary theories, his conception of the entrepreneur as a risk-bearer, and the development of spatial economics. Cantillon’s Essai had significant influence on the early development of political economy, including the works of Adam SmithAnne TurgotJean-Baptiste SayFrédéric Bastiat and François Quesnay.[6]

Biography

While details regarding Richard Cantillon’s life are scarce,[7] it is thought that he was born sometime during the 1680s in County Kerry, Ireland.[1][6] He was son to land-owner Richard Cantillon of Ballyheigue.[8] Sometime in the middle of the first decade of the 18th century Cantillon moved to France, where he attained French citizenship.[9] By 1711, Cantillon found himself in the employment of British Paymaster General James Brydges, in Spain, where he organised payments to British prisoners of war during the War of Spanish Succession.[10] Cantillon remained in Spain until 1714, cultivating a number of business and political connections, before returning to Paris.[11] Cantillon then became involved in the banking industry working for a cousin, who at that time was lead-correspondent of the Parisian branch of a family bank.[12] Two years later, thanks in large part to financial backing by James Brydges, Cantillon bought his cousin out and attained ownership of the bank.[13] Given the financial and political connections Cantillon was able to attain both through his family[14] and through James Brydges, Cantillon proved a fairly successful banker, specialising in money transfers between Paris and London.[15]

At this time, Cantillon became involved with British mercantilist John Law through the Mississippi Company.[16] Based on the monetary theory proposed by William Potter in his 1650 tract The Key of Wealth,[17] John Law posited that increases in the money supply would lead to the employment of unused land and labour, leading to higher productivity.[18] In 1716, the French government granted him both permission to found the Banque Générale and virtual monopoly over the right to develop French territories in North America, named the Mississippi Company. In return, Law promised the French government to finance its debt at low rates of interest.[19] Law began a financial speculative bubble by selling shares of the Mississippi Company, using the Banque Générale’s virtual monopoly on the issue of bank notes to finance his investors.[20]

Richard Cantillon amassed a great fortune from his speculation, buying Mississippi Company shares early and selling them at inflated prices.[21] Cantillon’s financial success and growing influence caused friction in his relationship with John Law, and sometime thereafter Law threatened to imprison Cantillon if the latter did not leave France within twenty-four hours.[22] Cantillon replied: “I shall not go away; but I will make your system succeed.”[22] To that end, in 1718 Law, Cantillon, and wealthy speculator Joseph Gage formed a private company centred on financing further speculation in North American real estate.[23]

In 1719, Cantillon left Paris for Amsterdam, returning briefly in early 1720. Lending in Paris, Cantillon had outlying debt repaid to him in London and Amsterdam.[24] With the collapse of the “Mississippi bubble”, Cantillon was able to collect on debt accruing high rates of interest.[25] Most of his debtors had suffered financial damage in the bubble collapse and blamed Cantillon—until his death, Cantillon was involved in countless lawsuits filed by his debtors, leading to a number of murder plots and criminal accusations.[26]

On 16 February 1722, Cantillon married Mary Mahony, daughter of Count Daniel O’Mahony [fr]—a wealthy merchant and former Irish general—spending much of the remainder of the 1720s travelling throughout Europe with his wife.[27] Cantillon and Mary had two children, a son who died at an early age and a daughter, Henrietta,[28] wife successively of the 3rd Earl of Stafford and the 1st Earl of Farnham. Although he frequently returned to Paris between 1729 and 1733, his permanent residence was in London.[29] In May 1734, his residence in London was burned to the ground, and it is generally assumed that Cantillon died in the fire.[2] While the fire’s causes are unclear, the most widely accepted theory is that Cantillon was murdered.[30] One of Cantillon’s biographers, Antoine Murphy, has advanced the alternative theory that Cantillon staged his own death to escape the harassment of his debtors, appearing in Suriname under the name Chevalier de Louvigny.[31]

Contributions to economics

Although there is evidence that Richard Cantillon wrote a wide variety of manuscripts, only his Essai Sur La Nature Du Commerce En Général (abbreviated Essai) survives.[6][32] Written in 1730,[33] it was published in French in 1755,[34] and was translated into English by Henry Higgs in 1932.[35] Evidence suggests that Essai had tremendous influence on the early development of economic science. However, Cantillon’s treatise was largely neglected during the 19th century.[5] In the late 19th century and it was “rediscovered” by William Stanley Jevons, who considered it the “cradle of political economy”.[4] Since then, Cantillon’s Essai has received growing attention. Essai is considered the first complete treatise on economic theory,[36] and Cantillon has been called the “father of enterprise economics”.[6][37]

William Petty is considered to be one of Richard Cantillon’s greatest influences.[38]

One of the greatest influences on Cantillon’s writing was English economist William Petty and his 1662 tract Treatise on Taxes.[39] Although Petty provided much of the groundwork for Cantillon’s Essai,[38] Anthony Brewer argues that Petty’s influence has been overstated.[40] Apart from Petty, other possible influences on Cantillon include John Locke,[41] CiceroLivyPliny the ElderPliny the YoungerCharles DavenantEdmond HalleyIsaac NewtonSébastien Le Prestre de Vauban, and Jean Boisard.[3] Cantillon’s involvement in John Law’s speculative bubble proved invaluable and likely heavily influenced his insight on the relationship between increases in the supply of money, price, and production.[42]

Methodology

Cantillon’s Essai is written using a distinctive causal methodology, separating Cantillon from his mercantilist predecessors.[6][43] Essai is peppered with the word “natural”, which in the case of Cantillon’s treatise is meant to imply a cause and effect relationship between economic actions and phenomena.[44] Economist Murray Rothbard credits Cantillon with being one of the first theorists to isolate economic phenomena with simple models, where otherwise uncontrollable variables can be fixed.[45] Cantillon made frequent use of the concept of ceteris paribus throughout Essai in an attempt to neutralise independent variables.[46] Furthermore, he is credited with employing a methodology similar to Carl Menger‘s methodological individualism,[47] by deducing complex phenomena from simple observations.[48]

A cause and effect methodology led to a relatively value-free approach to economic science, in which Cantillon was uninterested in the merit of any particular economic action or phenomenon, focusing rather on the explanation of relationships.[49] This led Cantillon to separate economic science from politics and ethics to a greater degree than previous mercantilist writers.[45] This has led to disputes on whether Cantillon can justly be considered a mercantilist or one of the first anti-mercantilists,[50] given that Cantillon often cited government-manipulated trade surpluses and specie accumulation as positive economic stimuli.[51] Others argue that in instances where Cantillon is thought to have supported certain mercantilist policies, he actually provided a more neutral analysis by explicitly stating possible limitations of mercantilist policies.[52]

Monetary theory

Differences between prior mercantilists and Cantillon arise early in Essai, regarding the origins of wealth and price formation on the market.[53] Cantillon distinguishes between wealth and money, considering wealth in itself “nothing but the food, conveniences, and pleasures of life.”[54] While Cantillon advocated an “intrinsic” theory of value, based on the input of land and labour (cost of production),[55] he is considered to have touched upon a subjective theory of value.[56] Cantillon held that market prices are not immediately decided by intrinsic value, but are derived from supply and demand.[57] He considered market prices to be derived by comparing supply, the quantity of a particular good in a particular market, to demand, the quantity of money brought to be exchanged.[58] Believing market prices to tend towards the intrinsic value of a good, Cantillon may have also originated the uniformity-of-profit principle—changes in the market price of a good may lead to changes in supply, reflecting a rise or fall in profit.[59]

Rendition of Cantillon’s primitive circular flow model[60]

In Essai, Cantillon provided an advanced version of John Locke’s quantity theory of money, focusing on relative inflation and the velocity of money.[61] Cantillon suggested that inflation occurs gradually and that the new supply of money has a localised effect on inflation, effectively originating the concept of non-neutral money.[62] Furthermore, he posited that the original recipients of new money enjoy higher standards of living at the expense of later recipients.[63] The concept of relative inflation, or a disproportionate rise in prices among different goods in an economy, is now known as the Cantillon Effect.[64] Cantillon also considered changes in the velocity of money (quantity of exchanges made within a specific amount of time) influential on prices, although not to the same degree as changes in the quantity of money.[65] While he believed that the money supply consisted only of specie, he conceded that increases in money substitutes—or bank notes—could affect prices by effectively increasing the velocity of circulating of deposited specie.[66] Apart from distinguishing money from money substitute, he also distinguished between bank notes offered as receipts for specie deposits and bank notes circulating beyond the quantity of specie—or fiduciary media—suggesting that the volume of fiduciary media is strictly limited by people’s confidence in its redeemability.[67] He considered fiduciary media a useful tool to abate the downward pressure that hoarding of specie has on the velocity of money.[68]

Addressing the mercantilist belief that monetary intervention could cause a perpetually favourable balance of trade, Cantillon developed a specie-flow mechanism foreshadowing future international monetary equilibrium theories.[69] He suggested that in countries with a high quantity of money in circulation, prices will increase and therefore become less competitive in relation to countries where there is a relative scarcity of money.[70] Thus, Cantillon also held that increases in the supply of money, regardless of the source, cause increases in the price level and therefore reduce the competitiveness of a particular nation’s industry in relation to a nation with lower prices.[71] However, Cantillon did not believe that international markets tended toward equilibrium, and instead suggested that government hoard specie to avoid rising prices and falling competitiveness.[69] Furthermore, he suggested that a favourable balance of trade can be maintained by offering a better product and retaining qualitative competitiveness.[72] Cantillon’s preference towards a favourable balance of trade possibly stemmed from the mercantilist belief in exchange being a zero-sum game, in which one party gains at the expense of another.[73]

A relatively advanced theory of interest is also presented.[74] Cantillon believed that interest originates from the need of borrowers for capital and from the fear of loss of the lenders, meaning that borrowers have to recompense lenders for the risk of the possible insolvency of the debtor.[75] In turn, interest is paid out of earned profits originating from the return on invested capital.[76] While previously it was believed that the rate of interest varied inversely to the quantity of money, Cantillon posited that the rate of interest was determined by the supply and demand on the loanable funds market[77]—an insight usually attributed to Scottish philosopher David Hume.[78] As such, while saved money impacts the rate of interest, new money that is instead used for consumption does not; Cantillon’s theory of interest is therefore similar to John Maynard Keynes‘s liquidity preference theory.[79]

Other contributions[edit]

Traditionally, it is Jean-Baptiste Say who is credited for coining the word and advancing the concept of the entrepreneur, but in fact it was Cantillon who first introduced the term in Essai.[6][80] Cantillon divided society into two principal classes—fixed income wage-earners and non-fixed income earners.[81] Entrepreneurs, according to Cantillon, are non-fixed income earners who pay known costs of production but earn uncertain incomes,[82] due to the speculative nature of pandering to an unknown demand for their product.[83] Cantillon, while providing the foundations, did not develop a dedicated theory of uncertainty—the topic was not revisited until the 20th century, by Ludwig von MisesFrank Knight, and John Maynard Keynes, among others.[84] Furthermore, unlike later theories of entrepreneurship which saw the entrepreneur as a disruptive force, Cantillon anticipated the belief that the entrepreneur brought equilibrium to a market by correctly predicting consumer preferences.[85]

Spatial economics deal with distance and area, and how these may affect a market through transportation costs and geographical limitations. The development of spatial economics is usually ascribed to German economist Johann Heinrich von Thünen; however, Cantillon addressed spatial economics nearly a century earlier.[86] Cantillon integrated his advancements in spatial economic theory into his microeconomic analysis of the market, describing how transportation costs influence the location of factories, markets and population centres—that is, individuals strive to lower transportation costs.[87] Conclusions on spatial economics were derived from three premises: cost of raw materials of equal quality will always be higher near the capital city, due to transportation costs; transportation costs vary on transportation type (for example, water transportation was considered cheaper than land-based transportation); and larger goods that are more difficult to transport will always be cheaper closer to their area of production.[88] For example, Cantillon believed markets were designed as they were to decrease costs to both merchants and villagers in terms of time and transportation.[89] Similarly, Cantillon posited that the locations of cities were the result in large part of the wealth of inhabiting property owners and their ability to afford transportation costs—wealthier property owners tended to live farther from their property, because they could afford the transportation costs.[90] In Essai, spatial economic theory was used to derive why markets occupied the geographical area they did and why costs varied across different markets.[91]

Cover of the Ludwig von Mises Institute’s edition of Cantillon’s Essai

Apart from originating theories on the entrepreneur and spatial economics, Cantillon also provided a dedicated theory on population growth. Unlike William Petty, who believed there always existed a considerable amount of unused land and economic opportunity to support economic growth, Cantillon theorised that population grows only as long as there are economic opportunities present.[92] Specifically, Cantillon cited three determining variables for population size: natural resources, technology, and culture.[93] Therefore, populations grow only as far as the three aforementioned variables allowed.[94] Furthermore, Cantillon’s population theory was more modern than that of Malthus in the sense that Cantillon recognised a much broader category of factors which affect population growth, including the tendency for population growth to fall to zero as a society becomes more industrialised.[95]

Influence

While Essai was not published until 1755 as a result of heavy censorship in France, it did widely circulate in the form of an unpublished manuscript between its completion and its publication.[96] It notably influenced many direct forerunners of the classical school of thought, including Turgot and other physiocrats.[97] Cantillon was a major influence on physiocrat François Quesnay, who may have learned of Cantillon’s work through Marquis of Mirabeau.[98] While it is evident that Essai influenced Quesnay, to what degree remains controversial. There is evidence that Quesnay did not fully understand, or was not completely aware of, Cantillon’s theories.[99] Many of Quesnay’s economic beliefs were elucidated previously in Essai,[100] but Quesnay did reject a number of Cantillon’s premises, including the scarcity of land and Cantillon’s population theory.[101] Also, Quesnay recognised the scarcity of capital and capital accumulation as a prerequisite for investment.[99] Nevertheless, Cantillon was considered the “father of physiocracy” by Henry Higgs, due to his influence on Quesnay.[102] It is also possible that Cantillon influenced Scottish economist James Steuart, both directly and indirectly.[103]

Cantillon is one of the few economists cited by Adam Smith, who directly borrows Cantillon’s subsistence theory of wages.[6][104] Large sections of Smith’s economic theory were possibly directly influenced by Cantillon, although in many respects Adam Smith advanced well beyond the scope of Cantillon.[105] Some economic historians have argued that Adam Smith provided little of value from his own intellect, notably Schumpeter[6][106] and Rothbard.[107] In any case, through his influence on Adam Smith and the physiocrats, Cantillon was quite possibly the pre-classical economist who contributed most to the ideas of the classical school.[108] Illustrative of this was Cantillon’s influence on Jean-Baptiste Say, which is noticeable in the methodology employed in the latter’s Treatise on Political Economy.[6][109]

References…

https://en.wikipedia.org/wiki/Richard_Cantillon

Story 3: Coronavirus or COVID-19 Exposed America’s Heavy Reliance On China For Medicines — Trump Administration May Use Defense Production Act To Manufacture Protective Gear — What About Replacing Medicine, Drug and Ingredients  Imported From Communist China By Establishing American Producers in United States As In The Past? — Videos

New information on finding a coronavirus treatment

HOW DOES COVID-19 AFFECT THE BODY?

Coronaviruses (CoV) are a family of viruses that cause sicknesses like the common cold, as well as more severe diseases, such as Middle East Respiratory Syndrome and Severe Acute Respiratory Syndrome. A novel coronavirus (nCoV) is a new strain – one that hasn’t previously been recognized in humans. Coronaviruses cause diseases in mammals and birds. A zoonotic virus is one that is transmitted between animals and people. When a virus circulating in animal populations infects people, this is termed a “spillover event”.

How does CoVID-19 affect the body? The virus is fitted with protein spikes sticking out of the envelope that forms the surface and houses a core of genetic material. Any virus that enters your body looks for cells with compatible receptors – ones that allow it to invade the cell. Once they find the right cell, they enter and use the cell’s replication machinery to create copies of themselves. It is likely that COVID-19 uses the same receptor as SARS – found in both lungs and small intestines. It is thought that CoVID-19 shares many similarities with SARS, which has three phases of attack: viral replication, hyper-reactivity of the immune system, and finally pulmonary destruction.

Early on in infection, the coronavirus invades two types of cells in the lungs – mucus and cilia cells.

Mucus keeps your lungs from drying out and protects them from pathogens. Cilia beat the mucus towards the exterior of your body, clearing debris – including viruses! – out of your lungs. Cilia cells were the preferred hosts of SARS-CoV, and are likely the preferred hosts of the new coronavirus. When these cells die, they slough off into your airways, filling them with debris and fluid. Symptoms include a fever, cough, and breathing difficulties.

Many of those infected get pneumonia in both their lungs. Enter the immune system. Immune cells recognize the virus and flood into the lungs. The lung tissue becomes inflamed. During normal immune function, the inflammatory process is highly regulated and is confined to infected areas.

However, sometimes the immune system overreacts, and this results in damage to healthy tissue. More cells die and slough off into the lungs, further clogging them and worsening the pneumonia. As damage to the lungs increases, stage three begins, potentially resulting in respiratory failure. Patients that reach this stage of infection can incur permanent lung damage or even die. We see the same lesions in the lungs of those infected by the novel coronavirus as those with SARS. SARS creates holes in the lungs, so they look honeycomb-like. This is probably due to the aforementioned over-reactive immune response, which affects tissue both infected and healthy and creates scars that stiffen the lungs. As such, some patients may require ventilators to aid breathing.

The inflammation also results in more permeable alveoli. This is the location of the thin interface of gas exchange, where your lungs replace carbon dioxide in your blood with fresh oxygen you just inhaled. Increased permeability causes fluid to leak into the lungs. This decreases the lungs’ ability to oxygenate blood, and in severe cases, floods them so that you become unable to breathe. Sometimes, this can be fatal. The immune system’s over-reaction can also cause another kind of damage.

Proteins called cytokines are the immune system’s alarm system, recruiting immune cells to the infection site. Over-production of cytokines can result in a cytokine storm, where there is large-scale inflammation in the body. Blood vessels become more permeable and fluid seeps out. This makes it difficult for blood and oxygen to reach the rest of the body and can result in multi-organ failure. This has happened in the most severe cases of CoVid-19.

Although there are no specific treatments for coronaviruses, symptoms can be treated through supportive care. Also, vaccines are currently in development. What can you do to protect yourself from CoVid-19? Basic protocol comes down to regular hand washing, avoiding close contact with anyone coughing or sneezing, avoiding unnecessary contact with animals, washing hands after contact with animals, thoroughly cooking meat and eggs prior to consumption, and covering your mouth and nose while coughing or sneezing. Respiratory viruses are typically transmitted via droplets in sneezes or coughs of those infected, so preventing their travel stops the spread of disease.

 

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UPDATED February 29, 2020

Coronavirus outbreak: President Donald Trump confirms 1st death in U.S., talks virus response

Coronavirus (COVID-19) Supply Chain Update

For Immediate Release:Statement From:

Commissioner of Food and Drugs – Food and Drug Administration

Stephen M. Hahn M.D.

As I have previously communicated, the FDA has been closely monitoring the supply chain with the expectation that the COVID-19 outbreak would likely impact the medical product supply chain, including potential disruptions to supply or shortages of critical medical products in the U.S.

A manufacturer has alerted us to a shortage of a human drug that was recently added to the drug shortages list. The manufacturer just notified us that this shortage is related to a site affected by coronavirus. The shortage is due to an issue with manufacturing of an active pharmaceutical ingredient used in the drug. It is important to note that there are other alternatives that can be used by patients. We are working with the manufacturer as well as other manufacturers to mitigate the shortage. We will do everything possible to mitigate the shortage.

Additional Information on Human Drugs

Since January 24, the FDA has been in touch with more than 180 manufacturers of human drugs, not only to remind them of applicable legal requirements for notifying the FDA of any anticipated supply disruptions, but also asking them to evaluate their entire supply chain, including active pharmaceutical ingredients (the main ingredient in the drug and part that produces the intended effects, e.g., acetaminophen) and other components manufactured in China.

Also, as part of our efforts, the FDA has identified about 20 other drugs, which solely source their active pharmaceutical ingredients or finished drug products from China. We have been in contact with those firms to assess whether they face any drug shortage risks due to the outbreak. None of these firms have reported any shortage to date. Also, these drugs are considered non-critical drugs.

We will remain in contact with manufacturers so that we can continue to assist them with any potential issues in the fastest way.

Medical Devices

We are aware of 63 manufacturers which represent 72 facilities in China that produce essential medical devices; we have contacted all of them. Essential devices are those that may be prone to potential shortage if there is a supply disruption. We are aware that several of these facilities in China are adversely affected by COVID-19, citing workforce challenges, including the necessary quarantine of workers. While the FDA continues to assess whether manufacturing disruptions will affect overall market availability of these products, there are currently no reported shortages for these types of medical devices within the U.S. market.

Regarding personal protective equipment—surgical gowns, gloves, masks, respirator protective devices, or other medical equipment designed to protect the wearer from injury or the spread of infection or illness—the FDA has heard reports of increased market demand and supply challenges for some of these products. However, the FDA is currently not aware of specific widespread shortages of medical devices, but we are aware of reports from CDC and other U.S. partners of increased ordering of a range of human medical products through distributors as some healthcare facilities in the U.S. are preparing for potential needs if the outbreak becomes severe.

It is important to note that no law exists requiring medical device manufacturers to notify the FDA when they become aware of a circumstance, including discontinuation of a product, that could lead to a potential shortage, and manufacturers are not required to respond when the FDA requests information about potential supply chain disruption. As with prior emergencies, the FDA has taken proactive steps to establish and remain in contact with medical device manufacturers and others in the supply chain, including hospitals and group purchasing organizations. The agency also encourages manufacturers and healthcare facilities to report any supply disruptions to the device shortages mailbox, deviceshortages@fda.hhs.gov. This mailbox is closely monitored and has proven to be a valuable surveillance resource to augment FDA efforts to detect and mitigate potential supply chain disruption.

Biologics and Blood Supply

The FDA is not aware of any cellular or gene therapies that are made in China for the U.S. market. There are no shortages of biologics to report at this time.

The potential for transmission of COVID-19 by blood and blood components is unknown at this time; however, respiratory viruses, in general, are not known to be transmitted by blood transfusion. Further, there have been no reported cases of transfusion-transmitted COVID-19.

The FDA has made information available to blood establishments and to establishments that manufacture human cells, tissues, or cellular or tissue-based products that may wish to consider additional donor screening measures in response to the COVID-19 outbreak.

Food

We are not aware of any reports at this time of human illnesses that suggest COVID-19 can be transmitted by food or food packaging. However, it is always important to follow good hygiene practices (i.e., wash hands and surfaces often, separate raw meat from other foods, cook to the right temperature, and refrigerate foods promptly) when handling or preparing foods.

Animal Drugs

There are 32 animal drug firms that make finished drugs or source active pharmaceutical ingredients in China for the U.S. The FDA has contacted all 32 firms and no shortages have been reported at this time. However, six of those firms have indicated that they are seeing disruptions in the supply chain that soon could lead to shortages. The FDA is working with these firms to help identify interventions to mitigate potential shortages.

Additional Resources

The FDA is using all our existing authorities to address COVID-19, and we welcome the opportunity to work with Congress to further strengthen our response capabilities and emergency preparedness. There are four specific proposals included in the President’s budget that would better equip the FDA to prevent or mitigate medical product shortages.

  1. Lengthen Expiration Dates to Mitigate Critical Human Drug Shortages: Shortages of certain critical drugs can be exacerbated when drugs must be discarded because they exceed a labeled shelf-life due to unnecessarily short expiration dates. By expanding the FDA’s authority to require, when likely to help prevent or mitigate a shortage, that an applicant evaluate, submit studies to the FDA, and label a product with the longest possible expiration date that the FDA agrees is scientifically justified, there could be more supply available to alleviate the drug shortage or the severity of a shortage.
  2. Improve Critical Infrastructure by Requiring Risk Management Plans: Enabling the FDA to require application holders of certain drugs to conduct periodic risk assessments to identify the vulnerabilities in their manufacturing supply chain (inclusive of contract manufacturing facilities), and develop plans to mitigate the risks associated with the identified vulnerabilities would enable the FDA to strengthen the supply chain by integrating contingencies for emergency situations. Currently, many medical product manufacturers lack plans to assess and address vulnerabilities in their manufacturing supply chain, putting them, and American patients, at risk for drug supply disruptions following disasters (e.g., hurricanes) or in other circumstances.
  3. Improve Critical Infrastructure through Improved Data Sharing and Require More Accurate Supply Chain Information: Empowering the FDA to require information to assess critical infrastructure, as well as manufacturing quality and capacity, would facilitate more accurate and timely supply chain monitoring and improve our ability to recognize shortage signals.
  4. Establish Reporting Requirements for Device Manufacturers: The FDA does not have the same authorities for medical device shortages as it does for drugs and biological products. For instance, medical device manufacturers are not required to notify the FDA when they become aware of a circumstance that could lead to a device shortage or meaningful disruption in the supply of that device in the U.S., nor are they required to respond to inquiries from the FDA about the availability of devices. Enabling the FDA to have timely and accurate information about likely or confirmed national shortages of essential devices would allow the agency to take steps to promote the continued availability of devices of public health importance. Among other things, the FDA proposes to require that firms notify the agency of an anticipated meaningful interruption in the supply of an essential device; require all manufacturers of devices determined to be essential to periodically provide the FDA with information about the manufacturing capacity of the essential devices they manufacture; and authorize the temporary importation of devices where the benefits of the device in mitigating a shortage outweigh the risks presented by the device that could otherwise result in denial of importation of the device into the U.S.

Overall, this remains an evolving and very dynamic issue. We are committed to continuing to communicate with the public as we have further updates.

We also continue to aggressively monitor the market for any firms marketing products with fraudulent COVID-19 diagnosis, prevention or treatment claims. The FDA can and will use every authority at our disposal to protect consumers from bad actors who take advantage of a crisis to deceive the public, including pursuing warning letters, seizures or injunctions against products on the market that are not in compliance with the law, or against firms or individuals who violate the law.

We know the public may have questions or concerns for the FDA as a result of this outbreak, including you and your family’s risk of exposure, or whether your critical medical products are safe and will continue to be available in the future. The FDA is working around the clock to monitor and mitigate emerging coronavirus issues through collaborative efforts with federal partners, international regulators and medical product developers and manufacturers to help advance response efforts to combat the COVID-19 outbreak.

The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.

https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-supply-chain-update

 

 

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The Pronk Pops Show 1400, February 21, 2020, Story 1: Send in the Clowns — Mini Mike Bloomberg Busted High Hopes — My Way or The Highway — Videos — Story 2: Roger Stone Sentenced To 40 Months in Prison For Lying To Congress in A Political Prosecution — Jury Foreperson Was Biased Trump Hating Democratic Activist — Miscarriage of Justice — Conviction Should Be Vacated — Videos — Story 3: The Real Threat Is Influenza Viruses Not Novel Coronavirus- Videos –Story 4: President Trump Holds Keep America Great Rally In Las Vegas — 500 Miles of Border Barrier in 2021 — Videos

Posted on February 21, 2020. Filed under: 2020 Democrat Candidates, 2020 President Candidates, 2020 Republican Candidates, Addiction, Addiction, American History, Amy Klobuchar, Bernie Sanders, Blogroll, Breaking News, Central Intelligence Agency, Communications, Congress, Corruption, Countries, Crime, Culture, Deep State, Defense Spending, Disasters, Diseases, Donald J. Trump, Donald J. Trump, Donald Trump, Education, Elections, Empires, Employment, Federal Bureau of Investigation (FBI), Federal Government, Fifth Amendment, First Amendment, Flu, Foreign Policy, Fourth Amendment, Freedom of Speech, Government, Government Dependency, Government Spending, History, House of Representatives, Human Behavior, Illegal Immigration, Immigration, Independence, James Comey, Law, Legal Immigration, Life, Lying, Media, Medicare, Mental Illness, Military Spending, National Security Agency, Obama, People, Politics, Polls, Progressives, Psychology, Public Relations, Radio, Raymond Thomas Pronk, Resources, Rule of Law, Scandals, Second Amendment, Security, Senate, Social Security, Spying, Spying on American People, Subornation of perjury, Subversion, Success, Surveillance and Spying On American People, Surveillance/Spying, Taxation, Taxes, Terror, Terrorism, Treason, Trump Surveillance/Spying, United States Constitution, Videos, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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Bloomberg Booster StoolSee the source image

See the source imageNinety-nine per cent of cases have been in China, where tens of millions of residents are in lockdown to contain the escalating crisis. The COVID-19 virus has killed at least 1,873 peopleSee the source image

 

Story 1: Send in the Clowns — Mini Mike Bloomberg Busted High Hopes — My Way or The Highway — Videos

See the source imageSee the source imageSee the source imageBloomberg The Farmer

Judy Collins Send in the Clowns

Send in the Clowns

Judy Collins

Isn’t it rich?
Are we a pair?
Me here at last on the ground,
You in mid-air,
Where are the clowns?
Isn’t it bliss?
Don’t you approve?
One who keeps tearing around,
One who can’t move,
Where are the clowns?
There ought to be clowns?
Just when I’d stopped opening doors,
Finally knowing the one that I wanted was yours
Making my entrance again with my usual flair
Sure of my lines
No one is there
Don’t you love farce?
My fault, I fear
I thought that you’d want what I want
Sorry, my dear!
But where are the clowns
Send in the clowns
Don’t bother, they’re here
Isn’t it rich?
Isn’t it queer?
Losing my timing this late in my career
But where are the clowns?
There ought to be clowns
Well, maybe next year
Source: LyricFind
Songwriters: Stephen Sondheim
Send in the Clowns lyrics © Warner Chappell Music, Inc

The Democratic Debate in About a Minute

Tucker: Bloomberg paid to be humiliated

Ingraham: Why Bloomberg is failing

Ari Fleischer gives Bloomberg these debate tips

Everything Mike Bloomberg Said at the Las Vegas Democratic Debate | NBC New York

Bernie Sanders and Michael Bloomberg spar at the open of the Democratic debate

Warren attacks Bloomberg over sexist comments and non-disclosure agreements

Mike Bloomberg at Tonight’s Debate | Mike Bloomberg for President

Frank Sinatra — High Hopes

“High Hopes” Frank Sinatra

Frank Sinatra – My Way (Live At Madison Square Garden, 1974)

And now the end is near
And so I face the final curtain
My friend, I’ll say it clear,
I’ll state my case of which I’m certain.
I’ve lived a life that’s full,
I travelled each and every highway,
And more, much more than this,
I did it My Way.
Regrets, I’ve had a few,
But then again too few to mention
Did what I had to do
And saw it through without exemption
Planned each charted course
Each careful step along the byway
And more, much more than this,
I did it My Way.
Yes there were times, I’m sure you knew
When I bit off more than I could chew
But through it all when there was doubt
I ate it up and spit it out
I faced it all and I stood tall
And did it My Way.
I’ve loved,
I’ve laughed and cried,
I’ve had my fill, my share of losing
And now as tears subside
I find it all so amusing
To think I did all that
And may I say not in a shy way
Oh no, oh no not me
I did it My Way
For what is a man, what has he got?
If not himself, then he has naught.
To say the things he truly feels;
And not the words of one who kneels.
The record shows
I took the blows –
And did it my way!
Source: LyricFind
Songwriters: Claude Francois / Gilles Thibaut / Jacques Revaux / Paul Anka
My Way lyrics © Warner Chappell Music France, Jeune Musique Editions, BMG Rights Management, Concord Music Publishing LLC

Calvin Harris – My Way (Official Video)

My Way

Calvin Harris

Why wait to say
At least I did it my way
Lie awake, two faced
But in my heart I understand
I made my move
And it was all about you
Now I feel so far removed
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way
My way
My way
Why wait to say
At least I did it my way
Lie awake, two faced
But in my heart I understand
I made my move
And it was all about you
Now I feel so far removed
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
You were the one thing in my way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
My way, oh way, oh way, oh way
Source: LyricFind
Songwriters: Calvin Harris
My Way lyrics © Sony/ATV Music Publishing LLC

Mike Bloomberg is declared the LOSER of the Democratic debate after his disastrous start and relentless attacks – while Warren and Sanders come away the winners

  • Pundits declared Bloomberg the loser of Wednesday night’s debate in Las Vegas 
  • Senators Warren and Sanders were declared the top two winners of the debate  
  • Warren attacked Bloomberg over the treatment of women at his company 
  • Sanders criticized the former NYC mayor over his past stop and frisk policy 
  • Pete Buttigieg was also declared a winner, while Biden and Klobuchar lost out 

 

Mike Bloomberg has been declared the loser of Democratic debate after Elizabeth Warren and Bernie Sanders relentlessly attacked the former New York mayor over his past ‘racist’ policies and treatment of women.

Six candidates took the stage Wednesday night in Las Vegas to face-off for a 5-to-1 face-off that ended disastrously for Bloomberg.

Pundits chose Bloomberg as the loser after he became the object of scorn, ridicule and contempt within the first five minutes of the debate.

What is becoming an increasingly bitter nomination fight, the Democratic presidential candidates focused their attacks on Bloomberg on the debate stage.

He has spent more than $400 million so far on advertising that in turn has given him strong standing in state and national polls.

Sanders recalled Bloomberg’s support of stop-and-frisk policing targeting minorities while Warren spoke about how Bloomberg had mocked women.

‘I’d like to talk about who we’re running against, a billionaire who calls women fat broads and horse-faced lesbians,’ Warren said.

Pundits chose Bloomberg as the loser of Wednesday night's debate after he became the object of scorn, ridicule and contempt within the first five minutes

Pundits chose Bloomberg as the loser of Wednesday night’s debate after he became the object of scorn, ridicule and contempt within the first five minutes

Six candidates took the stage Wednesday night in Las Vegas to face-off for a 5-to-1 face-off that ended disastrously for Bloomberg

Six candidates took the stage Wednesday night in Las Vegas to face-off for a 5-to-1 face-off that ended disastrously for Bloomberg

‘And no I’m not talking about Donald Trump, I’m talking about Mayor Bloomberg.’

Amy Klobuchar also quipped that, ‘I don’t think you look at Donald Trump and say I think we need someone richer in the White House’.

Former Vice President Joe Biden said Bloomberg condoned racist police practices, and Pete Buttigieg, the former mayor of South Bend, Indiana, said Bloomberg was trying to ‘buy out’ the Democratic Party.

But his biggest struggle came when Warren hammered him over allegations of sexism and mistreatment of women in his company.

Bloomberg attempted to defend his record and deflect the attacks on him by turning them into attacks on President Donald Trump.

And he effectively raised questions about whether Americans would embrace a socialist like Sanders.

CNN's Chris Cillizza compared Bloomberg's performance to that of a pro-wrestling match where 'everyone decided to gang up on a single wrestler in the ring - and that wrestler was totally and completely caught off-guard'

Cillizza also said the 'first hour of the debate was an absolute and total disaster for the former mayor' who was also the third most tweeted about candidate Wednesday night

Cillizza also said the ‘first hour of the debate was an absolute and total disaster for the former mayor’ who was also the third most tweeted about candidate Wednesday night

But the glare was harsh, and the attacks landed with force. Even if you are worth $60billion it is hard to win a 5-on-1 fight.

CNN’s Chris Cillizza said the ‘first hour of the debate was an absolute and total disaster for the former mayor’.

‘He looked lost at times – and those were the best times for him! Warren dunked on him repeatedly. Sanders slammed him. Biden bashed him,’ Cillizza wrote.

Cillizza compared Bloomberg’s performance to that of a pro-wrestling match where ‘everyone decided to gang up on a single wrestler in the ring – and that wrestler was totally and completely caught off-guard’.

ELIZABETH WARREN: RETURN OF THE FIGHTER (WINNER)

Warren rose to prominence in the Democratic field with a fighting spirit that defined the early months of her campaign. But her disappointing showings in Iowa and New Hampshire left her campaign struggling.

But on Wednesday, Warren got back in the fight.

She slammed Bloomberg – which was no surprise as she’s been an antagonist of billionaires playing in politics for years.

But Warren also attacked Klobuchar, saying her health care plan was just a ‘Post-it note’.

She accused Buttigieg of being in debt to his rich campaign supporters and having a healthcare plan that was just a ‘PowerPoint’ designed by his consultants.

Warren rose to prominence in the Democratic field with a fighting spirit that defined the early months of her campaign. But her disappointing showings in Iowa and New Hampshire left her campaign struggling. But on Wednesday, Warren got back in the fight

Warren rose to prominence in the Democratic field with a fighting spirit that defined the early months of her campaign. But her disappointing showings in Iowa and New Hampshire left her campaign struggling. But on Wednesday, Warren got back in the fight

Warren slammed also fellow liberal Sanders, accusing him of letting his supporters trash anyone with a plan. But it was her prosecutorial approach to Bloomberg over his company’s treatment of women that stood out.

She hit the former mayor hard when it came to his refusal to release women from the nondisclosure agreements with his company regarding complaints of a hostile working environment.

Warren was relentless, leaving the former mayor stumbling and fumbling for a response.

‘Anybody that does anything wrong in our company, we investigate it and if it’s appropriate, they’re gone that day,’ Bloomberg said.

‘Let me tell you what I do at my company and my foundation and in city government when I was there. In my foundation, the person that runs it is a woman, 70 per cent of the people there are women,’ he added.

She slammed Bloomberg - which was no surprise as she's been an antagonist of billionaires playing in politics for years. But Warren also attacked Klobuchar, saying her health care plan was just a 'Post-it note'

‘In my company, lots and lots of women have big responsibilities. They get paid exactly the same as men. In city hall, the top person, my deputy mayor was a woman and 40 per cent of our commissioners were women,’ he said.

Warren then hit him harder.

‘I hope you heard what his defense was. I’ve been nice to some women. That just doesn’t cut it. The mayor has to stand on his record. What we need to know is exactly what’s lurking out there,’ she said.

‘He has gotten some number of women, dozens, who knows, who sign nondisclosure agreements both for sexual harassment and for gender discrimination in the workplace.

Van Jones tweeted about Warren shortly after the debate, saying: ‘Elizabeth Warren needs Bloomberg like a “lion needs an antelope.” He is the human embodiment of everything she’s against. If @ewarren is effective at landing those blows, the air could very well come out of the Bloomberg bubble.’

BERNIE SANDERS: LEADING THE PACK (WINNER)

Sanders has continuously tried to cement himself as the Democratic frontrunner, and he may have just pulled that off, according to some pundits.

‘The ganging-up on Bloomberg was just fine for Sanders, who, in case you forgot, is the clear front-runner for the Democratic nomination,’ Cillizza wrote.

Before Wednesday night, Sanders has been hammering Bloomberg for weeks for trying to buy the election, though at a CNN town hall Tuesday night he wouldn’t guarantee he wouldn’t take Bloomberg’s money, which the billionaire candidate promised to the Democratic nominee, should he not be chosen for the job himself.

‘I don’t think we’re going to need that money,’ Sanders eventually said.

Sanders has sprung to the lead for the nomination in the RealClearPolitics polling average on the race with Biden in second and Bloomberg in third.

Sanders has continuously tried to cement himself as the Democratic frontrunner, and he may have just pulled that off, according to some pundits

Sanders has continuously tried to cement himself as the Democratic frontrunner, and he may have just pulled that off, according to some pundits

Sanders and Bloomberg locked horns on political philosophy during the debate, arguing over who’s a communist and who’s a socialist.

Bloomberg was defending his net worth, pointing out he earned it through ‘hard work’ and that he was giving his money away when Sanders argued the workers helped make that money.

‘Mr Bloomberg, it wasn’t you who made all that money. Maybe your workers played some role in that as well,’ Sanders said.

‘And it is important those workers are able to share the benefits also. When we have so many people who go to work every day and they feel not good about their jobs.

‘They feel like cogs in a machine. I want workers to be able to sit on corporate boards as well so they can have some say over what happens to their lives.’

MAYOR PETE BUTTIGIEG: THE GIFTED DEBATER (WINNER)

Some pundits crowned Buttigieg as one of Wednesday night’s winners.

‘Buttigieg is, without question, the most naturally gifted debater in the Democratic field, meaning he is simply not going to turn in a clunker. He was steady if not spectacular in this debate,’ Cillizza said.

According Cillizza, Buttigieg spent parts of the night taking on Sanders, which is a  ‘clear effort to send a signal to voters that he is the most credible alternative to the Vermont senator’.

Buttigieg, who finished in the top two in Iowa and New Hampshire with Sanders, reserved some of his harshest criticism for Sanders.

Some pundits crowned Buttigieg as one of Wednesday night's winners. Buttigieg, who finished in the top two in Iowa and New Hampshire with Sanders, reserved some of his harshest criticism for Sanders

Some pundits crowned Buttigieg as one of Wednesday night’s winners. Buttigieg, who finished in the top two in Iowa and New Hampshire with Sanders, reserved some of his harshest criticism for Sanders

He warned that Democrats could wake up after more than a dozen states vote on Super Tuesday on March 3 and have only Bloomberg and Sanders left on the ballot.

Buttigieg then quipped that the party may want to nominate ‘someone who is actually a Democrat’.

The crowd inside the Las Vegas casino hadn’t yet finished chuckling and hooting when he continued by saying Sanders ‘wants to burn this party down’ and Bloomberg ‘wants to buy this party out’.

Sanders, a senator from Vermont and avowed democratic socialist, responded by saying that Buttigieg’s campaign has been too reliant on ‘billionaire’ big donors, kicking off another intense exchange.

Their back and forth continued through criticism of Sanders supporters who have frequently been accused of bullying behavior online.

Sanders said he personally had denounced such behavior. This prompted Buttigieg to say he believed the senator but, ‘What it is it about your campaign in particular that seems to be motivating this type of behavior?’

On this night, Buttigieg had the most at stake, with Sanders standing in Nevada polls well ahead of the man who has run even with him in the first two contests.

AMY KLOBUCHAR: WHERE’S THE  KLOBENTUM? (LOSER)

The last debate was rocket fuel for Klobuchar. Her strong performance vaulted her to a third-place finish in New Hampshire and onto Nevada.

But it may be hard for lightning to strike twice.

The Minnesota senator was often drowned out in the high-octane bickering Wednesday, or pulled down into the mud.

At one point she pulled from her supply of ready quips, saying of Sanders and Bloomberg as they argued over capitalism that there is ‘a boxing rematch in Vegas on Saturday and these guys should go down there’.

The last debate was rocket fuel for Klobuchar. Her strong performance vaulted her to a third-place finish in New Hampshire and onto Nevada. But it may be hard for lightning to strike twice

The last debate was rocket fuel for Klobuchar. Her strong performance vaulted her to a third-place finish in New Hampshire and onto Nevada. But it may be hard for lightning to strike twice

The most damaging exchange was between Klobuchar and Buttigieg, who have tangled before.

When asked about her embarrassing gaffe in forgetting the name of Mexico’s president, she had to fend off Buttigieg, who claimed it disproved her argument that her work in Washington has prepared her to be president.

She also alternately scrapped with and aligned with Warren.

‘Are you calling me dumb?’ Klobuchar asked Buttigieg incredulously. Later, she added: ‘I wish everyone was as perfect as you, Pete.’

A little over a week ago in New Hampshire, Klobuchar clearly stood out. This time was much harder as everyone battled for survival.

FORMER VP JOE BIDEN: THE BYSTANDER (LOSER)

Another candidate in need of a big night to reverse perceptions that his campaign was struggling was Biden.

For a good portion of the debate, he receded. He joined in the attacks on Bloomberg, but largely avoided some of the more testy exchanges.

Biden called the stop and frisks ‘abhorrent’ and the former mayor admitted that it ‘got out of control’.

‘When we discovered – I discovered – that we were doing many, many – too many – stop and frisks, we cut 95 per cent of it out,’ Bloomberg asserted.

Another candidate in need of a big night to reverse perceptions that his campaign was struggling was Biden. For a good portion of the debate, he receded. He joined in the attacks on Bloomberg, but largely avoided some of the more testy exchanges

Another candidate in need of a big night to reverse perceptions that his campaign was struggling was Biden. For a good portion of the debate, he receded. He joined in the attacks on Bloomberg, but largely avoided some of the more testy exchanges

The former mayor said he is and was trying to ‘learn’ how to change policies to help continuing reduce crime in New York City.

Biden hit back at Bloomberg, claiming he couldn’t apologize it away and said it violated every right people posses.

‘Let’s get something straight. The reason that stop and frisk changed is because Barack Obama sent moderators to see what was going on. When we sent them there to say “this practice has to stop,” the mayor thought it was a terrible idea we send them there – a terrible idea,’ Biden said, invoking the name of one of the most famous Democrats.

‘It’s not whether he apologized or not, it’s the policy. The policy was abhorrent, and it was, in fact, a violation of every right people have,’ he said, claiming Bloomberg pushed back against stopping the policies.

‘He figured out it was a bad idea after we sent in monitors and said it must stop. Even then he continued the policy,’ Biden said on stage.

When Warren said that Biden was ‘in the pocket’ of Republican Mitch McConnell, the Senate majority leader, Biden fought back.

He also tried to return to his ‘Middle Class Joe’ biography about his family’s financial struggles.

Biden did not offer voters any new rationale for voting for him.

https://www.dailymail.co.uk/news/article-8023581/Mike-Bloomberg-declared-loser-Democratic-debate.html

Story 2: Roger Stone Sentenced To 40 Months in Prison For Lying To Congress in A Political Prosecution — Jury Foreperson Was Biased Trump Hating Democratic Activist — Miscarriage of Justice — Conviction Should Be Vacated — Videos —

Trump: Jury forewoman in Roger Stone case was ‘totally tainted’

Trump speaks in Las Vegas at ceremony for former prisoners, says what happened to Roger Stone was unbelievable.

Gowdy: No one believes Russia prefers Trump over ‘comrade Sanders’

Robert Ray expects it will be months before Roger Stone’s fate is settled

ROGER STONE SENTENCED: Friend of President Trump Gets 3 Years in Prison

Napolitano explains why Roger Stone is ‘absolutely entitled’ to a new trial

‘The Five’ panel gets heated over Roger Stone trial

Roger Stone gets THREE YEARS and four months but will not go straight to prison while he asks for a retrial – as federal judge rejects prosecutors’ demand for nine years but savages Donald Trump for interfering and says Stone ‘covered up for the president’

  • Roger Stone, 67, arrived at Washington’s federal court with his wife Nydia for sentencing hearing Thursday
  • Federal judge Amy Berman Jackson said his punishment for lying to Congress, witness tampering and obstruction will be 40 months in prison
  • But because he is asking for a retrial over claims of bias by the jury foreperson, the sentence will not take effect
  • Berman Jackson, an Obama appointee, said she had rejected prosecutors’ demand  for nine years on her – not because of outside pressure
  • That was a reference to Trump, who had raged about the initial demand – and for whom a 40 month sentence can be portrayed as a win
  • Judge issued a stunning rebuke not just of Stone but of Donald Trump himself for trying to interfere in the case
  • Case has plunged attorney general Bill Barr into crisis as he pleaded with Donald Trump to stop tweeting about it – and president refused
  • Within an hour of his arrival, Trump was tweeting again about the case this time suggesting the prosecution was unfair 
  • He claimed James Comey had lied to Congress but was not prosecuted 
  • Trump called himself the nation’s ‘chief law enforcement officer,’ and Barr was reported to be considering resigning 

Roger Stone swerved a federal prison cell Thursday despite a judge slapping the longtime Donald Trump ally with a 40-month sentence for lying to Congress – and savaging not just him but the president.

Stone was convicted last fall of lying to lawmakers over his efforts to procure stolen Democratic Party emails from WikiLeaks in 2016 to boost Donald Trump’s chances of becoming President.

The self-declared political dirty trickster was spared immediate incarceration Thursday while U.S. District Judge Amy Berman Jackson decides whether or not to grant his request for a retrial.

The sentence was far below the nine years demanded by the prosecution before that was over-ruled in a political tumult and furious tweets by Trump.

ROGER STONE DID A LOT WRONG: WHAT HE WAS CONVICTED OF

Roger Stone was found guilty on all charges of:

1. Obstruction of justice, lying to Congress and witness tampering by trying to get Randy Credico to lie to Congress. Sentenced to 40 months

2. Lying to Congress that he did not have emails or texts about Julian Assange. Sentenced to 12 months concurrent with the first count

3. Lying when he claimed his references to being in touch with Assange were actually about a ‘go-between’ – Randy Credico. Sentenced to 12 months concurrent with the first count

4. Lying that he didn’t ask his ‘go-between’ to communicate with Assange. Sentenced to 12 months concurrent with the first count

5. Lying that he didn’t text or email the ‘go-between’ about WikiLeaks. Sentenced to 12 months concurrent with the first count

6. Lying that he had never discussed conversation with his ‘go-between’ with anyone in the Trump campaign. Sentenced to 12 months concurrent with the first count

Instead she turned his sentencing hearing into a stunning rebuke not just of Stone but of the president himself, saying the prosecution was not brought by ‘political enemies,’ and that there was no ‘anti-Trump cabal’ at the hear of the case.

‘He was not prosecuted, as some have complained, for standing up for the president, he was prosecuted for covering up for the president,’ she said.

‘There was nothing unfair, phony or disgraceful about the investigation or the prosecution.’

Trump tweeted in rage against the prosecution accusing it of lacking ‘FAIRNESS’ as the hearing was under way in federal court in Washington D.C.

”They say Roger Stone lied to Congress.’ OH, I see, but so did Comey (and he also leaked classified information, for which almost everyone, other than Crooked Hillary Clinton, goes to jail for a long time), and so did Andy McCabe, who also lied to the FBI! FAIRNESS?’ the president tweeted.

It was unknown whether Berman Jackson was aware of his latest intervention but it came amid a case roiled by politics and mounting speculation Stone will be pardoned.

Even before she spoke, prosecutors staged their own revolt against the president calling the case ‘righteous’ and demanding a lengthy prison sentence despite their initial call for nine years being over-ruled by Attorney General Bill Barr in one of the main acts of an unfolding constitutional crisis.

Stone, 67, stood in silence as Jackson told a federal courtroom Washington, D.C. that he should spend 40 months -three years and four months – behind bars.

She had savaged him in his sentencing remarks – and rebuked the president himself, possibly for his tweet this morning which was during the first part of her hearing.

‘This case did not arise because Roger Stone was being prosecuted by his political enemies,’ Berman Jackson said.

She said Stone told ‘flat out lies,’ and that his conviction had nothing to do with whether Russia interfered in the 2016 election.

He was guilty of a ‘corrupt, unlawful,’ campaign to stop his lies being exposed when he threatened Randy Credico, who he named as his ‘go-between’ to Julian Assange, to stop Credico revealing the truth, that there was another go-between.

Stone was also guilty of withholding texts and emails from Congress, prompting Berman Jackson to again lash out at the president. 

Off home: Roger Stone left court to return to Florida

Free to go - for now: Roger Stone is escorted from the Washington D.C. federal courthouse after his sentencing. He remains gagged from speaking to the press

Happy outcome: A grinning Roger Stone left the court to get into a waiting car

On his way: Roger Stone steps out of the court and into the crowd after his sentencing

Not over: Roger Stone's case is not at an end because he has applied for a retrial, which the judge is considering. She went ahead with the sentencing and will rule later on his call for a fresh hearing

Crowd: Roger Stone walked through a crowd of waiting photographers and reporters as he left the court

Grinning: Roger Stone had shown no emotion as he was sentenced, and left the court building with a smile on his face

Grinning: Roger Stone had shown no emotion as he was sentenced, and left the court building with a smile on his face

Lightning rod: Federal judge Amy Berman Jackson will sentence Roger Stone in a case which has caused a crisis to engulf Bill Barr who pleaded with Donald Trump to let him do his job and stop the tweeting about his Department of Justice

Lightning rod: Federal judge Amy Berman Jackson will sentence Roger Stone in a case which has caused a crisis to engulf Bill Barr who pleaded with Donald Trump to let him do his job and stop the tweeting about his Department of Justice

Lightning rod: Federal judge Amy Berman Jackson will sentence Roger Stone in a case which has caused a crisis to engulf Bill Barr who pleaded with Donald Trump to let him do his job and stop the tweeting about his Department of Justice

And she pointed out that it was a Republican-led inquiry which he had initially defied.

Then she laced into the president, without naming him, saying it was right for sentencing to be done by a judge, ‘Not someone who has a longstanding friendship with the defendant, not someone whose political career was aided by the defendant.’

Stone was joined by a vast entourage led by his wife Nydia as he walked into the federal court, where his legal team has been bolstered by a Mafia lawyer who helped keep John Gotti Jr., head of the Gambino crime family and son of the ‘Teflon Don,’ out of prison.

Pro-Stone demonstrators brought a ‘pardon Roger stone’ banner which they held behind him when he arrived while counter-protesters tried to hurriedly erect an inflatable effigy of Trump as a rat as Stone arrived.

Hours before he arrived Trump launched another fusillade against Stone’s conviction, tweeting: ‘What has happened to Roger Stone should never happen to anyone in our country again.’

Trump’s tweets have plunged his own attorney general, Bill Barr, into a crisis over the rule of law, with the president declaring himself the ‘chief law enforcement officer,’ and demanding Barr ‘clean house.’

His wife Nydia was behind him in the courtroom as Stone, wearing a dark gray chalk stripe double-breasted suit, blue shirt with cutaway collar and sober gray tie, sat beside his attorneys.

Department of Justice attorneys had originally requested a far harsher punishment of seven to nine years only to see their recommendation ripped up by Attorney General William Barr, who drew praise from Trump for labeling it ‘excessive and unwarranted’.

The intervention sparked accusations of political interference, forcing Barr on the defensive as he denied bowing to White House influence and appealed for Trump to curb his explosive Twitter criticisms of Judge Jackson and the supposedly ‘tainted’ case against Stone.

More than 2,000 former justice department employees have since signed a petition calling on the Attorney General to resign.

The original prosecution foursome of Aaron Zelinsky, Jonathan Kravis, Adam Jed and Michael Marando were replaced for today’s proceedings at Washington, D.C. District Court, having all resigned in protest.

Stone’s sentencing got off to a rocky start when U.S. District Judge Amy Berman Jackson said that anyone in the court who did not have a medical reason to wear sunglasses should remove them. Stone had arrived in round sunglasses.

Jackson took the opportunity to grill prosecutors on why the Department of Justice decided last week to submit a second sentencing memorandum, a nod to Attorney General William Barr’s controversial decision to rip up the original seven to nine year recommendation submitted by his own attorneys.

It fell upon newly-assigned federal prosecutor John Crabb to apologize for the ‘miscommunication’, insisting that the original prosecution team – who resigned last week in protest – had acted in ‘good faith’.

Stone stood in silence as Jackson recalled the seven offences of which he was convicted: five counts of making false statements to Congress, a single count of obstructing a congressional proceeding and single count of witness tampering.

That final charge would be of particular significance as she warned Stone his sentence would likely be higher because it involved specific threats of violence.

Last November’s trial heard how Stone bullied the radio host Randy Credico into pleading the Fifth to avoid contradicting his 2016 testimony before Congress, branding him a ‘rat’ and threatening to take away his therapy dog.

Political point: An anti-Bill Barr protest was being made outside the federal court while Roger Stone was being sentenced - resulting in the advertising van being pulled over by D.C. cops

He's here: Roger Stone was accompanied by his wife Nydia and an almost 20-strong entourage as he arrived at federal court in Washington D.C. to be sentenced

In front of the protest: Roger and Nydia Stone walked past the inflatable Trump rat as they made their way into court

Grin and bear it: Roger Stone kept a fixed smile as he headed into court with his wife Nydia on his arm

Grin and bear it: Roger Stone kept a fixed smile as he headed into court with his wife Nydia on his arm

Raised a smile: Roger Stone's wife Nydia reacted positively to a group of supporters' banner calling for Donald Trump to issue the dirty trickster with a pardon

Raised a smile: Roger Stone’s wife Nydia reacted positively to a group of supporters’ banner calling for Donald Trump to issue the dirty trickster with a pardon

Arm-in-arm: Roger Stone wore a navy blue double-breasted topcoat with contrasting collar, blue cutaway collared shirt and sober gray tie, topped off with a black trilby as he arrived in court with Nydia, his second wife

 

Arm-in-arm: Roger Stone wore a navy blue double-breasted topcoat with contrasting collar, blue cutaway collared shirt and sober gray tie, topped off with a black trilby as he arrived in court with Nydia, his second wife

 

Asked if he had anything to say, Stone, dressed immaculately in a pinstripe suit, grey tie and suspenders, told Washington, D.C. District Court: ‘Your honor I choose not to speak at this time, thank you very much.’

Jackson slammed the 67-year-old defendant as an ‘insecure person who craves and recklessly pursues attention.’

‘This case did not arise because Roger Stone was being pursued by his political enemies,’ she added.

‘It arose because Roger Stone characteristically injected himself smack into the middle of one of the most significant issues of the day.’

Judge Jackson said Stone had interfered with matters of ‘grave national importance’ and repeatedly lied under oath. She characterized his defense as: ‘So what?’

‘Nothing about this case was a joke. It wasn’t funny,’ she cautioned.

‘This was not Roger being Roger. He lied to congress, he lied to elected representatives.’

The no-nonsense judge praised the ‘professionalism’ of the original four prosecutors, saying their recommendation was ‘true to the record’ and in line with Department of Justice guidelines.

However she agreed with Barr’s revision and said she was concerned seven to nine years would be ‘greater than necessary.’

She sentenced Stone to 40 months for obstruction, 12 months each for the counts of lying to Congress and 18 months for witness tampering, all sentences to be served concurrently.

He was also fined $20,000 and will have to serve two years’ probation. Federal rules means he has to give the court his tax returns.

Judge Jackson quizzed Crabb about how she came to receive two competing sentencing memorandums, noting that the original recommendation had never been formally withdrawn.

Crabb agreed and confirmed the prosecution was still asking for a substantial prison term for Stone, insisting the Justice Department had operated ‘without fear, favor or political influence’.

‘This prosecution was and is righteous,’ he said. ‘This confusion was not caused by the original trial team. There was nothing in bad faith about the prosecution team’s recommendation.’

Quizzed over who had ordered the new memorandum and why, Crabb replied: ‘What I understand is, there was a miscommunication between the Attorney General and the United States Attorney.’

Asked to explain who wrote the second memorandum, he repeatedly declined to say.

‘I cannot engage in discussions on internal deliberations,’ he said, to Judge Jackson’s obvious displeasure.

Ginsberg told the court that Stone had a history of ‘rough, provocative and hyperbolic language’ and that his threats to Credico should not influence his sentence, given that Credico and Stone went back decades and he knew Stone was ‘all bark and no bite.’

Judge Jackson disagreed, saying the sentencing seriousness level jumped from 14 to 27 because of Stone’s threats, witness tampering and efforts to disrupt justice.

‘The defendant refers to this as banter, which it hardly is,’ Jackson added, reeling off a list of insults Stone had directed toward Credico, including ‘rat’ and ‘c**sucker’.

She also slammed Stone over his repeated outbursts during last year’s prosecution, in particular his speaking out via InfoWars host Alex Jones to relay a message to Trump pleading for a pardon the night before he was found guilty.

That was in defiance of a gag order Judge Jackson had earlier slapped on Stone after he posted a mocked up photo of her face in rifle crosshairs online.

Jackson said Stone was deliberately trying to undermine proceedings and was stoking anger towards court officials, risking a scenario in which someone with ‘even less judgment’ could actually do something violent.

‘This is intolerable to the administration of justice. The court should not sit idly by, shrug its shoulders and say, that’s just Roger being Roger,’ she said.

Ratcheting up his sentencing level another two notches, she added: ‘It wasn’t an accident he had a staff that helped him do it. Using the new social media is his sweet spot.

‘He knew exactly what he was doing and in using Twitter and Instagram he deliberately magnified his message.’

Stone’s decades-long career on the shadier  margins of US politics appeared to be over last November after he was found guilty of five counts of making false statements to Congress and single counts of obstructing a congressional proceeding and witness tampering.

Jurors agreed the smooth-talking agent provocateur, who briefly served on Trump’s 2016 Presidential campaign, told a series of ‘whoppers’ when he testified before members of House Intelligence Committee investigating Russian collusion in the 2016 election.

Stone lied to lawmakers when he denied asking Julian Assange for the cache of Democratic Party messages stolen by Russian hackers and further lied about the identity of his go-between to the WikiLeaks founder.

He also concealed numerous texts, emails and telephone conversations in which he discussed WikiLeaks and Assange with then candidate-Trump and senior campaign figures including former White House chief strategist Steve Bannon, ex Campaign Chairman Paul Manafort and former campaign official Rick Gates.

In he goes: Roger Stone took off his trilby to enter court, where he will be sentenced

Acknowledgment: Roger Stone gave a salute to supporters outside court

Acknowledgment: Roger Stone gave a salute to supporters outside court

Tailored: Roger Stone revealed he is wearing a double-breasted dark gray chalk stripe suit under his navy blue double-breasted overcoat as he got out of his car before going into court

Counter-protest: Anti-Trump activists put up an inflatable effigy of the president as a rat in time for Roger Stone's arrival

 

Counter-protest: Anti-Trump activists put up an inflatable effigy of the president as a rat in time for Roger Stone’s arrival

Publicity opportunity: The Stone spectacle has also been a magnet for a local tour company whose placard made a return to the entrance to court for the sentencing

Publicity opportunity: The Stone spectacle has also been a magnet for a local tour company whose placard made a return to the entrance to court for the sentencing

Ready for the walk: Nydia Stone grasped her husband's arm as they prepared to walk into court

Ready for the walk: Nydia Stone grasped her husband’s arm as they prepared to walk into court

Trump praises Bill Bar for ‘taking charge’ of Roger Stone case
The trial heard Stone was trying to procure the emails as a way to win favor with Trump and help him beat Hillary Clinton to the White House.

The net result of him lying ‘over and over and over again’ was that the House Intelligence Committee was impeded in its inquiries and its final report into Russian election inference was inaccurate because it didn’t mention Stone’s true intermediary, prosecutors said.

The tampering charge referred to his effort to bully the comedian and radio host Randy Credico into pleading the Fifth so he would avoid contradicting Stone’s sworn September 26, 2017 testimony.

Stone had told lawmakers that Credico was his ‘back channel’ to WikiLeaks when it was actually the conspiracy theorist and author Jerome Corsi.

When Credico threatened to set the record straight, Stone branded him a ‘c**ksucker’, a ‘rat’ and urged the rattled comic to do a ‘Frank Pentangeli’, referencing a character in Godfather Part II who lies to a congressional committee to help the Corleone family before committing suicide.

He also took aim at Credico’s therapy dog Bianca, a 13-year-old Coton de Tulear, writing in an text message: ‘I’m going to take that dog away from you.’

Prosecutors cited the threats of physical harm and Stone’s repeated media outbursts attacking Judge Jackson as aggravating factors against the former Nixon campaign adviser who has the disgraced former president’s face permanently tattooed on his back.

However Credico was among those who argued against incarceration, saying in a January letter to the judge: ‘I never in any way felt that Stone himself posed a direct physical threat to me or to my dog.’

Tomeka Hart, a former Memphis City Schools Board President, stoked the flames further when she outed herself last Wednesday as the jury forewoman in a Facebook post voicing support for the overruled prosecutors.

‘I have kept my silence for months. Initially, it was for my safety. Then, I decided to remain silent out of fear of politicizing the matter,’ Hart wrote.

Back channels: Stone had fraudulently told lawmakers that Randy Credico, a left-wing radio comedian, was his 'back channel' to WikiLeaks when it was actually the conspiracy theorist and author Jerome Corsi (pictured)

Back channels: Stone had fraudulently told lawmakers that Randy Credico (pictured), a left-wing radio comedian, was his 'back channel' to WikiLeaks when it was actually the conspiracy theorist and author Jerome Corsi

Center of case: Roger Stone  also took aim at Randy Credico's therapy dog Bianca, a 13-year-old Coton de Tulear, writing in an text message: 'I'm going to take that dog away from you.'

‘But I can’t keep quiet any longer. I want to stand up for Aaron Zelinsky, Adam Jed, Michael Marando, and Jonathan Kravis – the prosecutors on the Roger Stone trial.

‘It pains me to see the DOJ now interfere with the hard work of the prosecutors. They acted with the utmost intelligence, integrity, and respect for our system of justice.

‘For that, I wanted to speak up for them and ask you to join me in thanking them for their service.’

Hart, it further emerged, had unsuccessfully ran for Congress as a Democrat in 2012 and had participated in anti-Trump rallies and protests.

She had frequently denounced Trump on social media, calling the President and his supporters racists, and posted emojis of hearts and fist pumps after finding Stone guilty last November.

Hart had also re-tweeted a post by pundit Bakari Sellers dismissing Stone’s claims that the FBI used excessive force when they arrested him at his Fort Lauderdale, Florida home in January 2019.

Sellers had listed black victims of ‘police force’, including Sandra Bland, Walter Scott and Eric Gardner, scoffing: ‘But Roger Stone!!! Think about that.’

Stone’s lawyers have already made one failed attempt to secure a re-trial, arguing that a completely different juror, an IRS employee who worked with the Justice Department on criminal tax cases, should have been struck.

The juror admitted reading news articles about Stone’s arrest but denied having any opinions about Stone when asked about it by Judge Jackson in court.

The defense had failed to demonstrate the ‘sort of inherent bias’ that would prompt a retrial, Judge Jackson ruled.

Stone entered the political arena in 1972 when he ditched his studies at George Washington University, supporting Nixon in his re-election campaign then landing a job on his administration.

In one of his first stunts he contributed $135 to one of Nixon’s Republican rivals in the name of the Young Socialist Alliance – then slipped the receipt to a journalist.

During congressional hearings into the Watergate scandal in 1973 it emerged Stone had recruited a spy to infiltrate the campaigns of several of Nixon’s Democratic rivals.

He was fired from his job with then-Senator Bob Dole but went on to work for several more presidential campaigns: those of Ronald Reagan, George H.W. Bush and, eventually, his longtime friend Donald Trump, who first hired Stone to lobby for his casino businesses in the 1990s.

The National Enquirer in 1996 revealed that Stone had placed ads on a swingers website seeking sex partners for himself and his second wife Nydia Bertran Stone, 72. Stone later referred to himself in an interview as ‘a libertarian and a libertine’ and a ‘trysexual – I’ve tried everything’.

The six Trump associates to be convicted in Mueller probe

GUILTY: ROGER STONE 

Convicted in November 2019 on seven counts including obstruction of justice, witness tampering, and lying to Congress about his communications with WikiLeaks. Sentenced to 40 months in prison. 

Stone was a person of interest to Mueller’s investigators long before his January 2019 indictment, thanks in part due to his public pronouncements as well as internal emails about his contacts with WikiLeks.

In campaign texts and emails, Stone communicated with associates about WikiLeaks following reports the organization had obtained a cache of Clinton-related emails. 

According to the federal indictment, Stone gave ‘false and misleading’ testimony about his requests for information from WikiLeaks. He then pressured a witness, comedian Randy Credico, to take the Fifth Amendment rather than testify, and pressured him in a series of emails. Following a prolonged dispute over testimony, he called him a ‘rat’ and threatened to ‘take that dog away from you’, in reference to Credico’s therapy dog, Bianca. Stone warned him: ‘Let’s get it on. Prepare to die.’  

GUILTY: MICHAEL FLYNN 

Pleaded guilty to making false statements in December 2017. Awaiting sentence

Flynn was President Trump’s former National Security Advisor and Robert Mueller’s most senior scalp to date. He previously served when he was a three star general as President Obama’s director of the Defense Intelligence Agency but was fired. 

He admitted to lying to special counsel investigators about his conversations with a Russian ambassador in December 2016. He has agreed to cooperate with the special counsel investigation.

GUILTY AND IN JAIL: MICHAEL COHEN

Pleaded guilty to eight counts including fraud and two campaign finance violations in August 2018. Pleaded guilty to further count of lying to Congress in November 2018. Sentenced to three years in prison and $2 million in fines and forfeitures in December 2018

Cohen was investigated by Mueller but the case was handed off to the Southern District of New York,leaving Manhattan’s ferocious and fiercely independent federal prosecutors to run his case. 

Cohen was Trump’s longtime personal attorney, starting working for him and the Trump Organization in 2007. He is the longest-serving member of Trump’s inner circle to be implicated by Mueller. Cohen professed unswerving devotion to Trump – and organized payments to silence two women who alleged they had sex with the-then candidate: porn star Stormy Daniels and Playboy model Karen McDougal. He admitted that payments to both women were felony campaign finance violations – and admitted that he acted at the ‘direction’ of ‘Candidate-1’: Donald Trump. 

He also admitted tax fraud by lying about his income from loans he made, money from  taxi medallions he owned, and other sources of income, at a cost to the Treasury of $1.3 million.

And he admitted lying to Congress in a rare use of the offense. The judge in his case let him report for prison on March 6 and  recommended he serve it in a medium-security facility close to New York City.

Campaign role: Paul Manafort chaired Trump's campaign for four months - which included the Republican National Convention in Cleveland in 2016, where he appeared on stage beside Trump who was preparing  to formally accept the Republican nomination

GUILTY AND IN JAIL: PAUL MANAFORT

Found guilty of eight charges of bank and tax fraud in August 2018. Sentenced to 47 months in March 2019. Pleaded guilty to two further charges – witness tampering and conspiracy against the United States. Jailed for total of seven and a half years in two separate sentences. Additionally indicted for mortgage fraud by Manhattan District Attorney, using evidence previously presented by Mueller. That indictment was dismissed by the DA is appealing

 Manafort worked for Trump’s campaign from March 2016 and chaired it from June to August 2016, overseeing Trump being adopted as Republican candidate at the Republican National Convention in Cleveland. He is the most senior campaign official to be implicated by Mueller. Manafort was one of Washington D.C.’s longest-term and most influential lobbyists but in 2015, his money dried up and the next year he turned to Trump for help, offering to be his campaign chairman for free – in the hope of making more money afterwards. But Mueller unwound his previous finances and discovered years of tax and bank fraud as he coined in cash from pro-Russia political parties and oligarchs in Ukraine.

Manafort pleaded not guilty to 18 charges of tax and bank fraud but was convicted of eight counts in August 2018. The jury was deadlocked on the other 10 charges. A second trial on charges of failing to register as a foreign agent due in September did not happen when he pleaded guilty to conspiracy against the United States and witness tampering in a plea bargain. He was supposed to co-operate with Mueller but failed to. 

Minutes after his second sentencing hearing in March 2019, he was indicted on 16 counts of fraud and conspiracy by the Manhattan District Attorney Cyrus Vance Jr., using evidence which included documents previously presented at his first federal trial. The president has no pardon power over charges by district and state attorneys.

GUILTY: RICK GATES 

Pleaded guilty to conspiracy against the United States and making false statements in February 2018. Awaiting sentence

Gates, a Trump campaign official, was Manafort’s former deputy at political consulting firm DMP International. He admitted to conspiring to defraud the U.S. government on financial activity, and to lying to investigators about a meeting Manafort had with a member of congress in 2013. As a result of his guilty plea and promise of cooperation, prosecutors vacated charges against Gates on bank fraud, bank fraud conspiracy, failure to disclose foreign bank accounts, filing false tax returns, helping prepare false tax filings, and falsely amending tax returns.

GUILTY AND JAILED: GEORGE PAPADOPOLOUS

Pleaded guilty to making false statements in October 2017. Sentenced to 14 days in September 2018, and reported to prison in November. Served 12 days and released on December 7, 2018

 Papadopoulos was a member of Donald Trump’s campaign foreign policy advisory committee. He admitted to lying to special counsel investigators about his contacts with London professor Josef Mifsud and Ivan Timofeev, the director of a Russian government-funded think tank. 

He agreed to cooperate with the special counsel investigation but is now highly critical of it.  

https://www.dailymail.co.uk/news/article-8025217/Roger-Stone-sentenced-three-years-judge-rebukes-Donald-Trump-tweeted-spoke.html

‘The American people cared. And I care.’ Top lines from Judge Amy Berman Jackson during the Roger Stone sentencing

The Roger Stone Sentencing Fiasco

Some Justice Department personnel handled it questionably, but Trump’s reaction was worse.

The first thing to grasp about the Roger Stone sentencing fiasco is that Stone, even accepting the worst plausible gloss on his crimes, is a 67-year-old nonviolent first offender. If the criminal-justice “reform” fad were authentic, and not a stratagem of social-justice warriors who have taken Washington’s surfeit of useful idiots for a ride, then we could all agree that the original seven-to-nine-year sentence advocated by prosecutors was too draconian — even if it was, as we shall see, a faithful application of the federal sentencing guidelines as written.

But no. Like criminal-justice “reform,” the Stone prosecution is more politics than law enforcement. It was the Mueller probe’s last gasp at pretending there might be something to the Russia-collusion narrative – notwithstanding that, when the “gee, it sure feels like there could be some collusion here” indictment was filed, over a year and a half after special counsel Robert Mueller was appointed, it had long been manifest that there was no Trump–Russia conspiracy.

So, the Left has a quandary here: Do they hate Trump more than they love sentencing “reform”? We could have predicted the decision to go with hating Trump, and thus fomenting outrage over DOJ’s retraction of its original sentencing recommendation of about nine years’ imprisonment, now slashed to a far more reasonable range of four years or less. To be fair, though, Trump critics could not have been expected to resist the combination of DOJ missteps and Trump Twitter taunts that mark Stone’s sentencing, the combination that has managed to turn Mueller’s maulers into media martyrs.

Some background: In a ridiculously overblown, overcharged prosecution, Mueller slammed the ineffable Stone with seven felony counts of obstructing Congress’s Russia investigation. One of these involved tampering with a witness, left-wing radio host Randy Credico (through whom Stone sought a communications channel with WikiLeaks honcho Julian Assange).

At a certain point, Credico let it be known that he intended to cooperate with investigators. A ballistic Stone, when not uttering lunatic references to Watergate and Frank Pentangeli (the Mafioso character goaded into suicide when a plot to take out the Don fails in Godfather II), warned the “stoolie” “rat” Credico to “prepare to die” and vowed to steal his pet dog. Even in context, these seem to be puerile ravings, not real threats. (Stone added that his lawyers were anxious to “rip [Credico] to shreds,” so any murder and dognapping was apparently going to await cross-examination.) And though Stone is patently guilty of witness tampering, Credico himself told the court that he did not take Stone’s threats seriously.

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Stone being the sort of Einstein who commits his obstructions in writing (the Credico contacts were mostly text messages), the jury convicted him in nothing flat. That meant DOJ would give the court its take on how the sentencing guidelines applied to the case, as it does with every convicted defendant.

In Stone’s case, the guidelines worked a severe result. In tampering cases, a guidelines enhancement calls for a drastic increase in the sentence if the defendant threatened the witness with physical injury. This drove Stone’s “offense level” from 21 to 29 on the guidelines grid, so even though he is a first offender (offense history “Category I” in guidelines-speak), his recommended sentence zoomed to 90 to 108 months — instead of 37 to 46 months, as it would have been at offense level 21 (i.e., without the threats).

With Mueller’s shop closed down, the Stone prosecution was run out of the U.S. attorney’s office for the District of Columbia. But it was still being overseen by two Mueller staffers, Aaron S. J. Zelinsky (on loan from the U.S. attorney’s office in Maryland, where he had worked for Rod Rosenstein, who, as Trump’s deputy attorney general, later appointed Mueller), and Adam C. Jed (an appellate lawyer from the Obama Justice Department who first came to public attention in 2013, arguing that the ban on same-sex marriage was unconstitutional). Also assigned to the case were Jonathan Kravis, a former associate White House counsel to Obama, and Michael Mirando, an experienced assistant U.S. attorney in the D.C. office.

This team of prosecutors filed a sentencing memorandum on Monday, laying out the guidelines and advising Judge Amy Berman Jackson that they called for a prison sentence of about seven to nine years (i.e., the offense-level guidelines range of 90 to 108 months). Like the indictment itself, the memo is gross overkill.

As the Daily Caller’s Chuck Ross notes, the prosecutors tied Stone to “foreign election interference,” breathlessly framed as the “most deadly adversary of republican government,” even though he was never charged with any such crime — underscoring yet again that the deadliest adversary of republican government is actually domestic — viz., the politicized use of executive police powers. Far from offering any theory in mitigation of the 90-to-108-months range, the prosecutors pooh-poohed Credico’s perception that Stone’s threats were not serious, factitiously insisting that the guidelines enhancement is triggered by the threat, not whether the target is actually intimidated. Plus, prosecutors maintained, Stone’s crimes were exacerbated by his flouting of Judge Berman Jackson’s gag orders during the prosecution.

All that said, the prosecutors’ submission was an accurate (if extreme and unyielding) rendition of federal sentencing law. The enhancement that inflates Stone’s sentencing range does literally apply — even if he is not the kind of violent criminal that the guidelines commissioners had in mind when they wrote it. Prosecutors are not required to argue for clemency, though they should do so when the circumstances call for it. The Justice Department’s default position in criminal cases is that the guidelines should be applied as written, and that it is up to the court to decide whether to follow them.

While Stone awaited sentence, the prosecutors were supervised, at least nominally, by Jessie Liu, the U.S. attorney for D.C. I say “nominally” because the Trump Justice Department has always been leery about being seen as interfering in Mueller-based prosecutions. Moreover, the D.C. office was in transition while court submissions pertaining to Stone’s sentencing were being prepared.

In December 2019, President Trump announced his nomination of Liu to become the Treasury Department’s undersecretary overseeing financial sanctions on terrorists. Liu continued running the U.S. attorney’s office, albeit with one foot out the door, until the end of January. With her Treasury confirmation hearing scheduled for February 13 (i.e., tomorrow), Attorney General Bill Barr appointed one of his top advisers, Timothy Shea (a well-regarded longtime prosecutor, litigator, and Capitol Hill staffer), to become acting U.S. attorney for D.C. on January 30. That was eleven days before the Stone team filed its sentencing submission.

How much participation Shea had in the recommendation is unclear. The New York Times reports that both he and Deputy Attorney General Jeffrey A. Rosen opined that the seven-to-nine-year sentencing recommendation was too severe. Yet, it does not appear that they put their foot down and instructed the Stone prosecutors to ameliorate it before the government’s submission was filed on Monday.

As is his wont, the president went bonkers on Twitter upon learning of the recommendation, calling it “horrible and very unfair” and a major “miscarriage of justice” because “the real crimes are on the other side” — i.e., the Russia-probe investigators — yet “nothing happens to them.” While the Justice Department was obviously aware of the president’s tweet, as well as press reporting about the harshness of the prosecutors’ sentencing recommendation, the DOJ and the White House have had no communications about the case, according to both the president and a spokeswoman for the attorney general.

Nevertheless, the DOJ made it known that the sentencing memo would be rescinded and a new one filed. That announcement prompted the recusals of all four prosecutors, some of whom are quitting the DOJ entirely and some apparently just stepping aside from the Stone case.

Late Tuesday, the DOJ filed a revised sentencing memo, which does not recommend a specific sentence but strongly suggests that a term calculated without the eight-point enhancement — i.e., between 37 and 46 months’ imprisonment — would be just. The new memo concedes that the prosecutors’ calculation in the original memo was “arguably” correct, but contends that it would be unreasonable under the circumstances. On that score, the memo relies on (a) Credico’s dismissal of the threat (though it acknowledges that this is not dispositive); (b) the fact that a sentence driven by the guidelines enhancement would be wildly out of proportion with prison terms imposed in cases similar to Stone’s; (c) Stone’s being a first-offender with no organized-crime or gang connections and thus not typical f the offenders the enhancement is meant to cover; and (d) Stone’s advanced age and failing health.

This is an entirely reasonable recommendation, even if the process of arriving at it has been a train wreck.

The Justice Department correctly observes that the sentence to be imposed is entirely up to the court. The DOJ’s recommendations are non-binding and frequently ignored by judges. Judge Berman Jackson has been thoroughly informed about what the non-binding guidelines say, as well as the cases for and against applying the enhancement.

Furthermore, let’s imagine that, instead of orchestrating a fiasco, DOJ had efficiently managed any internal disputes (which are not uncommon) and had filed a single memo recommending a 37-to-46-month sentence — a memo that explained both the enhancement for threatening witnesses and why applying it would be unreasonable under the circumstances. Does anyone doubt that such a recommendation would nevertheless have been panned as excessive by the president?

For now, while Trump has taken to attacking both the resigning prosecutors and Judge Berman Jackson on Twitter, it appears that former U.S. attorney Liu is taking the fall. Within hours of the prosecutors’ trumpeting their departures in grand Sally Yates style, the White House announced that the president had pulled Liu’s appointment to the Treasury Department position — even though her confirmation hearing was just two days away, and Barr had lavished praise on her upon appointing Shea as her replacement.

Liu certainly had a tumultuous tenure. Besides the thankless task of inheriting the Mueller cases against Stone and former national-security adviser Michael Flynn (the implosion of which is a story for another day), her office foolishly pursued a threadbare Mueller-generated prosecution of Greg Craig for false statements based on lobbying for Ukraine. Craig, former White House counsel to President Obama, was speedily acquitted by a jury last year. Meanwhile, there was also a mini-revolt on the Senate Judiciary Committee a few months back when the president floated the idea of elevating Liu to the No. 3 leadership slot at the DOJ — though she was vigorously defended by AG Barr, and suspicions that she lacked conservative bona fides appear overwrought (the fact that Liu may be pro-choice hardly means she would not enforce laws regulating abortion; and a claim that, 15 years ago, she opposed Justice Samuel Alito’s appointment to the Supreme Court appears to be false).

I would not suggest that Liu and others at the DOJ distinguished themselves in the Stone sentencing debacle. But at this point, the main fault lies with the president.

Yes, the Mueller probe was specious. But for his connection to Trump, Stone would never have been pursued in a collusion fever dream that Mueller’s prosecutors knew was bogus when they charged him. Yet his crimes, while exaggerated, were real. He was convicted by a jury and, under federal law, that presumptively warrants incarceration, though he could be spared by the judge (whom the president has picked a strange time to antagonize). If the president thinks that Stone and Flynn (among others) have been given a raw deal, the Constitution empowers him to pardon them, or at least commute their sentences.

If President Trump is afraid, in an election year, to take the political hit that a pardon for Stone would entail, that is understandable. But then he should bite his tongue and click out of Twitter. The Justice Department’s job is to process cases, including Mueller cases, pursuant to law. If the president wants to make those cases disappear, he has to do it himself and be accountable. His provocative running commentary only ensures that the DOJ will be accused of kowtowing to him. It also guarantees that, if the ongoing criminal probe of the Russiagate investigation eventually yields any indictments, they will be assailed as political persecutions rather than good-faith law enforcement.

 

Story 3: The Real Threat Is Influenza Viruses Not Novel Coronavirus- Videos

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Worrying about coronavirus? This other virus is the real threat.

Worrying about coronavirus? This other virus is the real threat.

There’s a deadly virus spreading from state to state. It preys on the most vulnerable, striking the sick and the old without mercy. In just the last few months, it has claimed the lives of at least 39 children.

The virus is influenza, and it poses a far greater threat to Americans than the coronavirus from China that has made headlines around the world.

“When we think about the relative danger of this new coronavirus and influenza, there’s just no comparison,” said William Schaffner, a professor of preventive medicine and health policy at Vanderbilt University Medical Center. “Coronavirus will be a blip on the horizon in comparison. The risk is trivial.”

To be sure, the coronavirus outbreak, which originated last month in the Chinese city of Wuhan, should be taken seriously. The virus can cause pneumonia and is blamed for more than 7,000 illnesses and more than 170 deaths.

The World Health Organization on Thursday declared the outbreak a global emergency requiring a coordinated international response after the number of cases spiked sharply over the last few days. But officials warn much remains unknown.

In the United States, at least six cases of the virus have been reported, including the first case of person-to-person infection. Public health workers are monitoring dozens of additional patients.

And yet, Americans aren’t particularly concerned.

Fewer than half of adults got a flu shot last season, according to the CDC. Even among children, who can be especially vulnerable to respiratory illnesses, only 62% received the vaccine.

If Americans aren’t afraid of the flu, perhaps that’s because they are inured to yearly warnings. For them, the flu is old news. Yet viruses named after foreign places — such as Ebola, Zika, and Wuhan — inspire terror.

“Familiarity breeds indifference,” Schaffner said. “Because it’s new, it’s mysterious, and comes from an exotic place, the coronavirus creates anxiety.”

Some doctors joke that the flu needs to be rebranded.

“We should rename influenza; call it XZ-47 virus or something scarier,” said Paul Offit, director of the Vaccine Education Center at the Children’s Hospital of Philadelphia.

 

Measles in the Democratic Republic of the Congo has killed 5,000 people in the last year — more than twice as many as Ebola. Yet UNICEF officials have noted that the measles, which many Americans no longer fear, has gotten little attention. Nearly all the measles victims were children under 5.

Because the Wuhan virus is new, humans have no antibodies against it. Doctors haven’t had time to develop treatments or vaccines.

The big question, so far unknown, is just how easily the virus is transmitted from an infected person to others. Officials warn much remains unknown, but each patient with the new coronavirus appears to be infecting about two other people.

By comparison, patients with SARS, or severe acute respiratory syndrome, spread the infection to an average of two to four others. Each patient with measles — one of the most contagious viruses known to science — infects 12 to 18 unvaccinated people.

Health officials worry that the new coronavirus could resemble SARS — which appeared suddenly in China in 2002 and spread to 26 countries, sickening 8,000 people and killing 774, according to the WHO.The U.S. dodged a bullet with SARS, Schaffner said. Only eight Americans became infected and none died, according to the CDC. Yet SARS caused a global panic, leading people to shutter hotels, cancel flights, and close businesses.

Coronaviruses can be unpredictable, said Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota. While some patients never infect anyone else, people who are “super-spreaders” can infect dozens of others.

At Seoul, South Korea’s Samsung Medical Center in 2015, a single emergency-room patient infected 82 people —patients, visitors, and staff — with a coronavirus called MERS, or Middle East Respiratory Syndrome. The hospital partly shut down to control the virus.

“This is one of the finest medical centers in the world, on par with the Cleveland Clinic, and they were brought to their knees,” Osterholm said.

Yet MERS has never posed much of a threat to the United States.

Only two patients in this country — health-care providers who had worked in Saudi Arabia — have ever tested positive for the virus, according to the CDC. Both patients survived.

Hotez, who is working to develop vaccines against neglected diseases, said he worries about unvaccinated children. Most kids who die from the flu haven’t been immunized against it, he said. And many were previously healthy.

“If you’re worried about your health, get your flu vaccination,” Hotez said. “It’s not too late.”

https://www.inquirer.com/health/coronavirus-infection-death-risk-influenza-20200129.html

 

 

 

 

 

 

Deadly coronavirus ‘kills 15 PER CENT of patients over 80’ and the never-before-seen strain is ‘up to 20 TIMES more infectious than SARS’

  • Chinese health officials carried out the biggest ever study on the coronavirus
  • Results showed SARS-CoV-2 virus posed the greatest threat to older patients 
  • It is also dangerous for those with underlying conditions, such as heart disease
  • More than 73,000 cases have been recorded, with up to 99% of them in China 
  • Do you have a study about coronavirus? Email sam.blanchard@mailonline.co.uk 

The deadly coronavirus rapidly sweeping the world kills up to 15 per cent of patients over the age of 80, scientists have revealed.

Chinese health officials carried out the biggest ever study on the never-before-seen strain of the virus, using data from 72,000 cases.

Results showed the SARS-CoV-2 virus posed the greatest threat to older patients and those with underlying conditions, such as cancer and heart disease.

Chinese Centre for Disease Control and Prevention researchers also found 80.9 per cent of infections are mild. Less than five per cent are critical.

More than 73,000 cases have been recorded worldwide, with 99 per cent in China. Almost 1,900 patients have already died.

Residents walk through a disinfection channel set up as a protective measure against the coronavirus at the entrance to their compound in Tongzhou, east of Beijing

Residents walk through a disinfection channel set up as a protective measure against the coronavirus at the entrance to their compound in Tongzhou, east of Beijing

A child wearing a face mask plays near a slide at a commercial and residential complex in a residential complex in Beijing

A child wearing a face mask plays near a slide at a commercial and residential complex in a residential complex in Beijing

A police officer wearing a face mask patrols in front of the Sunwill factory in Foshan, China

A medical worker takes a swab for testing from a Chinese paramilitary police officer in Shenzhen, Guangdong province

 

A medical worker takes a swab for testing from a Chinese paramilitary police officer in Shenzhen, Guangdong province

Cases of a mysterious pneumonia-causing virus first emerged in the now-deserted Chinese city of Wuhan late last year.

Researchers blamed a seafood market in Hubei city that illegally sold wild animals for being the source of the virus.

The virus has no known cure and most patients who are struck down recover within a couple of weeks without needing medical treatment.

Those who develop more serious infections in their lungs, such as pneumonia, need expert medical care to stop their illness turning deadly.

They looked at 72,314 confirmed, suspected, clinically diagnosed, and asymptomatic cases of COVID-19 illness across China as of February 11.

COVID-19 is the name of the disease caused by the virus, which has effectively been named as SARS-2 by the World Health Organization.

Results showed the overall case-fatality ratio – the percentage of patients who die – was just 2.3 per cent.

Ninety-nine per cent of cases have been in China, where tens of millions of residents are in lockdown to contain the escalating crisis. The COVID-19 virus has killed at least 1,873 people

And more than 73,000 patients have been struck down with the deadly SARS-CoV-2 infection, including nearly 1,000 outside of China

And more than 73,000 patients have been struck down with the deadly SARS-CoV-2 infection, including nearly 1,000 outside of China

Almost 1,900 people have now died from the killer coronavirus rapidly sweeping the world

Almost 1,900 people have now died from the killer coronavirus rapidly sweeping the world

In comparison, SARS – which only infected a fraction of patients during the 2002/03 epidemic – killed around 10 per cent.

While the death rate for MERS, another type of coronavirus that was first reported in Saudi Arabia in 2012, is even higher (34 per cent).

One of the world’s deadliest diseases, Ebola, kills around half of all patients it strikes. Ebola is not caused by any type of coronavirus.

When data for the SARS-CoV-2 infection was broken down, researchers found over-80s had the highest fatality ratio at 14.8 per cent.

The likelihood of death was just eight per cent of patients aged between 70 and 79, and 3.6 per cent for those in their sixties.

The case-fatality ratio was less than 1.5 per cent for patients in their fifties, and less than 0.5 per cent for everyone else – meaning roughly one in 200 will die.

There were no deaths among children aged up to nine, despite at least two cases of newborn babies infected through their mothers.

In contrast, the death rate for flu is around 0.1 per cent, according to the US Centres for Disease Control (CDC).

Older adults have weaker immune systems, meaning it is harder for the body to fight off a virus such as SARS-CoV-2 or flu.

Patients with heart disease were most likely to die from the virus, followed by those with diabetes, chronic respiratory disease and hypertension.

CCDC academics also found 80.9 percent of infections were classified as mild, 13.8 percent as severe and only 4.7 percent as critical.

And men are more likely to die (2.8 per cent) than women (1.7 per cent). But experts have yet to work out why men are more vulnerable.

Nearly 86 percent of those who have contracted the illness either lived in or travelled to Wuhan.

British cruise ship passenger David Abel and his wife Sally (pictured in their cabin on the Diamond Princess) have tested positive for coronavirus in Japan

David Abel believes he is going to test negative for coronavirus

Steve Abel (pictured today) said his parents David and Sally Abel were 'not getting any communication' from Whitehall and were 'feeling very unloved'

The Diamond Princess (pictured today) remains in lockdown and hundreds face a longer spell in quarantine even after the official incubation period ends tomorrow

American passenger details life on Diamond Princess ahead of evacuation

SON OF BRIT COUPLE WITH CORONAVIRUS ON CRUISE SHIP BEGS GOVERNMENT TO RESCUE THEM

The son of a British couple who caught coronavirus on a cruise ship in Japan has today savaged the government’s ‘appalling’ handling of the case.

Steve Abel said his parents David and Sally were ‘not getting any communication’ from Whitehall and were ‘feeling very unloved’ despite repeated pleas for help.

The British couple were among 88 people who tested positive for the virus in Japan today, taking the number of infections on board the ship to 542.

They are now being taken into a further quarantine on the mainland just a day before their stay on board the Diamond Princess was due to end.

The Abels will also be unable to join an evacuation flight which the British embassy is preparing today amid growing pressure after the US evacuated 340 of its citizens.

And 3,019 health workers have been diagnosed and five had died as of February 11, the report said.

The epidemic, which has seen cases in almost 30 countries, reached its ‘first peak’ between January 24 and 26, the report said.

It suggests there is has been a ‘downward trend’ in the overall epidemic curve since February 11 – meaning the spread of the disease was slowing.

A separate group of scientists published their findings about the virus on bioRxiv – an archive of papers before they have been peer-reviewed.

Scientists at the University of Texas at Austin found SARS-CoV-2 was 20 times more likely to bind to human cells than its original predecessor.

South China Morning Post reports the team said the virus shares the same host-cell receptor, angiotensin-converting enzyme 2 (ACE2), with SARS.

The researchers wrote: ‘Compared with SARS-CoV, 2019-nCoV appears to be more readily transmitted from human to human.

‘The high affinity of 2019-nCoV for human ACE2 may contribute to the apparent ease with which 2019-nCoV can spread from human to human.’