Tuesday , February 25 2020
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Jay Taylor Media

Coronavirus: Time To Prepare Is Running Out

OK…despite more worldwide infections than ever, the WHO has decided to stop using the (technically very accurate) term “pandemic” to describe covid-19, presumably because they don’t want to scare folks. The CDC is claiming that the US is not seeing “community level” spreading of the virus. But of course it isn’t, because it’s NOT testing at the community level. And only 3 US states currently have the capacity to run such tests, due to faulty kits being provided to the other states. Then...

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Es fácil creer que AOC tiene un título de economía

By: Ryan McMaken It has become something of a tradition in the free market corners of social media to express shock and dismay over the possibility that New York congresswoman Alexandria Ocasio-Cortez (AOC)—an avowed “democratic socialist”—has an economics degree from Boston University. This is how it works: AOC makes a statement that is notably antimarket, prosocialist, or generally clueless about general concepts from the field of economics. Her critics then post responses questioning...

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No, The Fed Will Not “Save the Market”–Here’s Why

The greater the excesses, speculative euphoria and moral hazard, the greater the reversal. A very convenient conviction is rising in the panicked financial netherworld that the Federal Reserve and its fellow dark lords will “save the market” from COVID-19 collapse. They won’t. I already explained why in The Fed Has Created a Monster Bubble It Can No Longer Control (February 16, 2020) but it bears repeating. Contrary to naive expectations, the Fed’s primary job isn’t inflating stock market and...

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The True Danger of Coronavirus (COVID-19): What are the real risks of infection, death and a global pandemic?

The public is always ready to panic over the next pandemic. We love a good movie like the old Ebola scare, Outbreak. We even have a name for the next mystery disease — the big one that is supposed to destroy us all like World War III or like the apocalypse — a scientific name. The World Health Organization has designated it with the generic place holder “Disease X.” But is its real name “COVID-19” as the latest coronavirus has just specifically been named? Mainstream media, often instrumental...

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A Global Flight To Gold & Treasuries Is Here!

A Pfennig For Your Thoughts February 24, 2020 * Gold soars on Friday and this morning! * Dollar is still well bid VS most currencies… Good Day… and a Marvelous Monday… Next week, I’ll be on vacation, my annual spring vacation from writing, so this is just a warning! Well, Spring Training games finally began for me on Saturday. I had my annual emotional moment when I come up the stairs onto the concourse level and see the plush green field for the first time each year. I know in my heart of...

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Continued Loss of Purchasing Power

What are we to make of this week’s major market moves? With stocks down, it suggests a risk-off week. But then we note that the Commodities measured by the Rogers Raw Materials Index gained 1.17% or nearly what the S&P lost. Thanks to the Rogers Fund gain combined with rises of 0.38% for copper, 4.23% in silver, and 2.46% in oil, my Inflation-Deflation Watch was virtually unchanged for the week despite the above-noted S&P decline and declines of 0.48% in the housing stock index, 0.79%...

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The Coronavirus Is Swiftly Breaching Defenses Across The World

Things are now starting to get fast and furious. Outside of China, covid-19 is swiftly breaching defense lines all over the world. Italy is suddenly in big trouble — with the military being called in to enforce city quarantines.  Iran, South Korea & Japan similarly find themselves overwhelmed as new cases continue to spread unabated. And there are many other countries (including the US) whose low reported numbers just don’t appear believable at this point. We may soon find out that...

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When Will We Admit Covid-19 Is Unstoppable and Global Depression Is Inevitable?

Given the exquisite precariousness of the global financial system and economy, hopes for a brief and mild downturn are wildly unrealistic. If we asked a panel of epidemiologists to imagine a virus optimized for rapid spread globally and high lethality, they’d likely include these characteristics: 1. Highly contagious, with an R0 of 3 or higher. 2. A novel virus, so there’s no immunity via previous exposure. 3. Those carrying the pathogen can infect others while asymptomatic, i.e. having no...

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Coronavirus Cases Doubling Overnight In Many Countries

Boy this is not good… Covid-19 cases are leaping higher in disparate countries around the globe — doubling overnight in South Korea, Italy and Iran. New research continues to clarifying how *extremely* contagious this virus is (as the rash of worldwide infections confirms). It increasingly looks like the only hope countries have of containing covid-19 is to use the draconian mass quarantine efforts that China is enforcing on its populace. Don’t assume that can’t happen where you live. It...

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Investors Are Piling Into Safe Havens on Coronavirus Fears

U.S. factories rebounded strongly in February, suggesting the manufacturing recession may finally be behind us after the industry contracted for six straight months. The Philadelphia Fed Manufacturing Index jumped an incredible 20 points to 36.7, its highest reading since May 2017, while New York’s Empire State Manufacturing Survey rose more than eight points to 12.9, a nine-month high. We won’t get the Institute for Supply Management’s (ISM) U.S. manufacturing purchasing manager’s index...

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