The curve finally appears to be flattening:and Democrats show their true colors, as Nancy Pelosi Blocks $1.8 Trillion #Coronavirus Bill. Why? Abortion! and demands cancellation of all college debt. Sundance at CTH, Pelosi and Schumer Block $1.6 Trillion Emergency Economic Bill – DOW Futures Collapse…
The death toll from an outbreak of coronavirus in Italy has risen by 651 to 5,476, officials said on Sunday, an increase of 13.5% but down on Saturday’s figure when some 793 people died.Italy has now been on a nationwide lockdown since March 9, so this diminution of the number of daily deaths was to be expected. The number of diagnosed cases continues to increase, but the people have been effectively quarantined for nearly two weeks, which necessarily is limiting the spread of the disease. The most vulnerable populations — the elderly and those with underlying health problems — have certainly been taking precautions, and so the pandemic appears to be losing its momentum. Let’s hope the trend continues.
The total number of cases in Italy rose to 59,138 from a previous 53,578, an increase of 10.4%, the Civil Protection Agency said — the lowest rise in percentage terms since the contagion came to light on Feb. 21.
Of those originally infected nationwide, 7,024 had fully recovered on Sunday compared to 6,072 the day before.
There are two main points Pelosi is targeting. First, because COVID-19 creates a MASSIVE SPENDING opportunity, Speaker Nancy Pelosi wants to include the elimination of college debt, literally wipe out student loans – which ironically and intentionally were created under Obamacare, in the coronavirus bill.Meanwhile, in Italy, Israeli doctor in Italy: We no longer help those over 60. I hope we do better than Italy. Not good news to someone 68.
This move has nothing to do with the economic impacts of coronavirus, but it allows: (a) a political win to get the Bernie AOC crowd behind the Democrat candidate; and (b) will allow more government funding to ideological college interests by wiping out the debt problem.
Secondly, Speaker Pelosi wants unilateral control over which companies will receive any financial assistance or loans to survive the crisis. As was the case with the 2008 Bank Bailouts, 2009 ARRA (stimulus plan) and Auto-Bailout, Pelosi wants control to select companies for assistance that are owned and operated by Democrat donors; and to scuttle any businesses or corporations who are led by republican donors. This was a big part of Obama’s stimulus program and GM bailout scheme. You might remember the dealerships helped were based on party registration.
WASHINGTON DC – Two ugly truths about any epic economic crisis are that not all businesses will survive, and government interventions help determine which businesses will survive.The difference between Nancy’s prior exploits (in 2008 /2009) and today is that previously she had President Obama to support all of her political schemes. Now she could be up against President Trump who might use his considerable platform to call attention to the partisan spending…. Key words “could” and “might”.
As coronavirus crushes the economy, Washington policymakers are scrambling to figure out who to bail out, a responsibility that one veteran of the 2008 financial rescue morbidly but accurately compared to the frantic triage work that doctors are currently doing in overcrowded Italian hospitals.
[…] As Congress rushes to assemble an enormous stimulus package to try to slow the freefall or at least pad the landing, it’s becoming clear that a lot of federal dollars will be sent straight to American taxpayers, but also that a lot of federal dollars will go straight to the companies that employ them.
Washington’s last epic bailout, the $700 billion Wall Street rescue of 2008, was wildly unpopular but ultimately quite successful—and while a financial panic is a different kind of crisis than a viral pandemic, it has some lessons for today about when companies should get help and how that help should be delivered. (read more)
Via Insty:
the west is screwed we need culture change on mask wearing pic.twitter.com/B0nPvRm63n— William (@William70823696) March 21, 2020
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