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President Trump is putting my life and my stocks at risk. I’m not pleased.

Mr Trump spoke for 11 minutes last night from the Oval Office. By the time he’d finished I truly felt scared and Dow futures had fallen over one thousand points.

The Financial Times explained

Perhaps the biggest fallout of Mr Trump’s address was what he did not say. His most glaring omission was any plan to increase America’s capacity to test for infections. Epidemiologists say accurate testing is the single most effective method to counter the disease’s spread. It allows the authorities to isolate clusters, trace the movement of the virus and make critical decisions on where the biggest risks lie. That is what countries such as Taiwan, Singapore and South Korea have done so effectively without resorting to the draconian measures taken in China.

From the Wall Street Journal:

The biggest failure so far has been on testing when the Centers for Disease Control and Prevention produced contaminated test kits and the Food and Drug Administration was slow to approve private alternatives. The best response to that is to acknowledge the delay, explain what happened, and relate when and how the problem will be addressed. The mistake is to claim there was no problem.

Remember the New York lawyer who was in hospital, got the coronavirus and infected his entire family and even the friend who drove him to the hospital. He was put into a two-person room in the hospital with — it turns out by sheer coincidence — is a friend. That friend has never been tested for the coronavirus, despite being in the hospital room with the infected lawyer and despite his calling the hospital and his doctor and begging to be tested. He doesn’t get callbacks or intelligent answers. He suspects it’s because of a shortage of testing kits. He’s quarantined at his home.

This chart makes me physically sick. The world’s richest country is last on testing. This chart comes from the Financial Times:

Here is a chart that is useful:

As of today worldwide, there are 128,267 confirmed cases, with 4711 people having died. The best source of up-to-date information is here.

There is a very good summary of Covid-19 on the same site. Click here.

The same site has the following information:

How do you get infected?

+ The main route of transmission is respiratory droplets and close contact.

+ When you sneeze or cough, you send out droplets of fluid from your nose and mouth.

+ Those droplets can carry infections, and when they enter someone else’s enter the eyes, nose or mouth, the infection can make them sick. This is the way the flu and many viruses are spread.

+ Most often, you need to be close to the person (within 6 feet) for it to spread this way.

+ There is the possibility of aerosol transmission when exposed to high concentration aerosol for a long time in a relatively closed environment.

+ The WHO has stated that the risk of spread from someone without symptoms is “very low” and that fecal transmission is “low”.

How can I protect myself?

Handwashing

+ A number of governments advise against all non-essential travel to countries and areas affected by the outbreak.

+ There are misconceptions circulating about how to prevent infection: rinsing the nose, gargling with mouthwash, and eating garlic are not effective.

+ The CDC recommends that people wash hands often with soap and water for at least 20 seconds, especially after going to the toilet or when hands are visibly dirty.

+ It further recommended using an alcohol-based hand sanitizer with at least 60% alcohol by volume (or 120 proof) when soap and water are not readily available.

+ The WHO also advise people to avoid touching the eyes, nose, or mouth with unwashed hands.

For more, go here.

The stock market has opened way down.

My portfolio is down over 7% — a record. I actually had thought the market would bounce back this morning. But President Trump’s idiotic speech last night tanked it well and truly.

I was hoping for news on testing kits (nothing). I was hoping for news on helping people who lost their jobs (nothing). I was hoping for something practical. But he’s interested in saving the cruise lines, the airlines and cutting payroll taxes which won’t help companies in trouble or employees who lost their job.

His focus is on looking good for re-election.

From the Washington post

For example, the Port of Los Angeles, the busiest port in the United States, has become a “ghost town,” four workers said. They said the port has never been this quiet, not even during the Great Recession.

I have been holding all my shares, figuring we’ll pull out of this in coming months. After last night’s abysmal show of “leadership” by Trump, I’m not so sure.

As I write this, circuit breakers have stopped trading on the market.

We are facing a serious recession. Perhaps the worst one since the Great Depression.

It may be time to sell stock and go short on some obvious ones. Curiously, I’m up big on BA and XOM.

— See you tomorrow. Harry Newton

 

  • Disenfranchised voter

    Putting politics aside, does Joe Biden exude confidence? Really? Seriously? Does he come across to you as being competent, in anything?! I can’t stand Trump, but this Biden character is a total nothing. Either way we’re screwed.

  • Mark

    The Fed-Bankster just announced what amounts to a massive amount of QE through additional purchases in the REPO market. That temporarily created a reprieve in the stock market, which is down over 2,000 points today. It also reversed some of the major losses in both the oil and gold markets. Warren Buffet is licking his lips with all his cash but smart enough to know now is not the time to buy anything contrary to Harry’s bs. Cash Is King!
    Thanks Tom for reposting the coronavirus article.

  • gerryb

    China now produces 97% of antibiotics. It is past time to diversify our supply chain away from them.

    I am afraid the pandemic is going to be longer and worse than people realize even now. Watch this interview with Michael Osterholm, internationally recognized expert in infectious disease epidemiology. He is Regents Professor, McKnight Presidential Endowed Chair in Public Health, the director of the Center for Infectious Disease Research and Policy (CIDRAP), Distinguished Teaching Professor… https://www.youtube.com/watch?time_continue=10&v=E3URhJx0NSw&feature=emb_logo

  • barryl

    What’s Ross Rant say about it? He always seemed pleased with how everything was going with the current leadership.

  • June

    Me still thinks Harry is a fake. Excuse my English, as I went to the same Ivey school Harry went. Harry, Mike and Tomfromva are all one and the same. I heard Biden has early stages of dementia MSM. Mind you I’m no Trump fan. Is this the best candidate (the deep state) Democrats can come up with? Market was excellent, a credit to Trump until the virus. Was it a biological lab leak? The other Tom is right. Harry blaming his own stupidity on Trump. Well done Harry. Hope you’re better at wheel chair tennis. Your investing advice and politics stink.

    • tom

      This was sent to me from a colleague in Israel:

      From member of the Stanford hospital board. This is their feedback for now on Corona virus:

      The new Coronavirus may not show sign of infection for many days. How can one know if he/she is infected? By the time they have fever and/or cough and go to the hospital, the lung is usually 50% Fibrosis and it’s too late.

      Taiwan experts provide a simple self-check that we can do every morning. Take a deep breath and hold your breath for more than 10 seconds. If you complete it successfully without coughing, without discomfort, stiffness or tightness, etc., it proves there is no Fibrosis in the lungs, basically indicates no infection. In critical time, please self-check every morning in an environment with clean air.

      Serious excellent advice by Japanese doctors treating COVID-19 cases: Everyone should ensure your mouth & throat are moist, never dry. Take a few sips of water every 15 minutes at least. Why? Even if the virus gets into your mouth, drinking water or other liquids will wash them down through your throat and into the stomach. Once there, your stomach acid will kill all the virus. If you don’t drink enough water more regularly, the virus can enter your windpipe and into the lungs. That’s very dangerous.

      IMPORTANT ANNOUNCEMENT – CORONAVIRUS

      1. If you have a runny nose and sputum (phlegm), you have a common cold

      2. Coronavirus pneumonia is a dry cough with no runny nose.

      3. This new virus is not heat-resistant and will be killed by a temperature of just 26/27 degrees. It hates the Sun.

      4. If someone sneezes with it, it takes about 10 feet before it drops to the ground and is no longer airborne.

      5. If it drops on a metal surface it will live for at least 12 hours – so if you come into contact with any metal surface – wash your hands as soon as you can with a bacterial soap.

      6. On fabric it can survive for 6-12 hours. normal laundry detergent will kill it.

      7. Drinking warm water is effective for all viruses. Try not to drink liquids with ice.

      8. Wash your hands frequently as the virus can only live on your hands for 5-10 minutes, but – a lot can happen during that time – you can rub your eyes, pick your nose unwittingly and so on.

      9. You should also gargle as a prevention. A simple solution of salt in warm water will suffice.

      10. Can’t emphasis enough – drink plenty of water!

      THE SYMPTOMS

      1. It will first infect the throat, so you’ll have a sore throat lasting 3/4 days

      2. The virus then blends into a nasal fluid that enters the trachea and then the lungs, causing pneumonia. This takes about 5/6 days further.

      3. With the pneumonia comes high fever and difficulty in breathing.

      4. The nasal congestion is not like the normal kind. You feel like you’re drowning. It’s imperative you then seek immediate attention.

  • TomFromVa

    IMAHO, the disease will be on the downswing within a month, with minimal deaths. Any lasting damage will be self-inflicted. Once we see that the vast majority of people recover from this, it will just be another type of nasty flu. Those at risk are the old and infirm.

    • bruuno

      The GOPinion ®

  • Mike Nash

    Joe Biden needs to address the nation on coronavirus. We need to hear from a leader. The speech last night was AWFUL.

    • Bart

      “The Obama White House had to publicly apologize for and clean up after Biden when his irresponsible remarks caused panic during the swine flu outbreak in 2009,” the campaign said.

    • tom

      Why Mike or is Harry (I’m confused)? would censor this great source of corona virus info is beyond me. This should be passed on to all family and friends:
      This was sent to me from a colleague in Israel:

      From member of the Stanford hospital board. This is their feedback for now on Corona virus:

      The new Coronavirus may not show sign of infection for many days. How can one know if he/she is infected? By the time they have fever and/or cough and go to the hospital, the lung is usually 50% Fibrosis and it’s too late.

      Taiwan experts provide a simple self-check that we can do every morning. Take a deep breath and hold your breath for more than 10 seconds. If you complete it successfully without coughing, without discomfort, stiffness or tightness, etc., it proves there is no Fibrosis in the lungs, basically indicates no infection. In critical time, please self-check every morning in an environment with clean air.

      Serious excellent advice by Japanese doctors treating COVID-19 cases: Everyone should ensure your mouth & throat are moist, never dry. Take a few sips of water every 15 minutes at least. Why? Even if the virus gets into your mouth, drinking water or other liquids will wash them down through your throat and into the stomach. Once there, your stomach acid will kill all the virus. If you don’t drink enough water more regularly, the virus can enter your windpipe and into the lungs. That’s very dangerous.

      IMPORTANT ANNOUNCEMENT – CORONAVIRUS

      1. If you have a runny nose and sputum (phlegm), you have a common cold

      2. Coronavirus pneumonia is a dry cough with no runny nose.

      3. This new virus is not heat-resistant and will be killed by a temperature of just 26/27 degrees. It hates the Sun.

      4. If someone sneezes with it, it takes about 10 feet before it drops to the ground and is no longer airborne.

      5. If it drops on a metal surface it will live for at least 12 hours – so if you come into contact with any metal surface – wash your hands as soon as you can with a bacterial soap.

      6. On fabric it can survive for 6-12 hours. normal laundry detergent will kill it.

      7. Drinking warm water is effective for all viruses. Try not to drink liquids with ice.

      8. Wash your hands frequently as the virus can only live on your hands for 5-10 minutes, but – a lot can happen during that time – you can rub your eyes, pick your nose unwittingly and so on.

      9. You should also gargle as a prevention. A simple solution of salt in warm water will suffice.

      10. Can’t emphasis enough – drink plenty of water!

      THE SYMPTOMS

      1. It will first infect the throat, so you’ll have a sore throat lasting 3/4 days

      2. The virus then blends into a nasal fluid that enters the trachea and then the lungs, causing pneumonia. This takes about 5/6 days further.

      3. With the pneumonia comes high fever and difficulty in breathing.

      4. The nasal congestion is not like the normal kind. You feel like you’re drowning. It’s imperative you then seek immediate attention.

      • Gary S

        From AP News at https://apnews.com/afs:Content:863507031

        Ability to hold your breath 10 seconds is not a test for coronavirus

        Experts also said that the 10 second test being shared online would not be a reliable way to determine whether someone has the virus.

        “This approach may be helpful in identifying persons with more serious lung disease,” Atmar said. But it will not identify persons who are infected and have mild to no symptoms.”

        There are many things beyond coronavirus that could lead to restricted breathing, including asthma, anxiety or heart disease, said Dr. Gregory Poland, head of vaccine research at Mayo Clinic in Rochester, Minnesota. All could make it difficult to hold your breath for 10 seconds, he said.

        Throughout the coronavirus outbreak, the World Health Organization has continuously updated their social media platforms to debunk false claims around the virus. The WHO Philippines Twitter account on Feb. 7 knocked down the claim about drinking water to avoid getting the virus.

        “While staying hydrated by drinking water is important for overall health, it does not prevent coronavirus infection,” the WHO post stated.

        ___

        This is part of The Associated Press’ ongoing effort to fact-check misinformation that is shared widely online, including work with Facebook to identify and reduce the circulation of false stories on the platform.

        Here’s more information on Facebook’s fact-checking program: https://www.facebook.com/help/1952307158131536

  • tom

    Do you really expect us to believe the sh*t you write? That’s right blame it on Trump. What else can one loser do! Jumping with no parachute is ____well you fill in the blank. Harry is burning.
    CASH BABY CASH