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The UN Is Now Admitting That This Coronavirus Pandemic Could Spark Famines Of “Biblical Proportions”
The UN Is Now Admitting That This Coronavirus Pandemic Could Spark Famines Of “Biblical Proportions”
What the head of the UN’s World Food Program just said should be making front page headlines all over the globe. Because if what he is claiming is true, we are about to see global food shortages on a scale that is absolutely unprecedented in modern history. Even before COVID-19 arrived, armies of locusts the size of major cities were voraciously eating crops all across Africa, the Middle East and parts of Asia, and UN officials were loudly warning about what that would mean for global food production. And now the coronavirus shutdowns that have been implemented all over the planet have brought global trade to a standstill, they are making it more difficult to maintain normal food production operations, and they have forced countless workers to stay home and not earn a living. All of this adds up to a recipe for a complete and utter nightmare in the months ahead.
David Beasley is the head of the UN’s World Food Program, and on Tuesday he warned that we could actually see famines of “biblical proportions” by the end of this calendar year. The following comes from ABC News…
The coronavirus pandemic could soon double hunger, causing famines of “biblical proportions” around the world by the end of the year, the head of the World Food Programme, David Beasley, told the U.N. Security Council on Tuesday.
Beasley warned that analysis from the World Food Programme, the U.N.’s food-assistance branch, shows that because of the coronavirus, “an additional 130 million people could be pushed to the brink of starvation by the end of 2020. That’s a total of 265 million people.”
He described what we are facing as “a hunger pandemic”, and he insisted that urgent action must be taken in order to avoid a nightmare scenario.
…click on the above link to read the rest of the article…
Shocking New Study Concludes That The “Best Case Scenario” For A COVID-19 Pandemic Is 15 Million Dead
Shocking New Study Concludes That The “Best Case Scenario” For A COVID-19 Pandemic Is 15 Million Dead
Over the past week, the number of confirmed cases of COVID-19 outside of China more than tripled once again. Hopefully it is extremely unlikely that such a rapid growth rate will continue, because if it does, there will be more than a million confirmed cases outside of China just a month from now. I don’t even want to imagine the level of fear that would cause, and needless to say that would be absolutely devastating for the entire global economy. Of course if we do get to a million confirmed cases, there won’t be any way to keep it from spreading everywhere on the entire globe, and the ultimate death toll could be unimaginable.
According to the WHO, the current death rate for this outbreak is 3.4 percent, and many experts believe that it will continue to go higher.
That means that a whole lot of people will die if this virus cannot be contained somehow.
Researchers at a major university in Australia modeled seven different scenarios for how a COVID-19 pandemic might go, and in the “best-case scenario” the death toll was 15 million…
New modeling from The Australian National University looks at seven scenarios of how the COVID-19 outbreak might affect the world’s wealth, ranging from low severity to high severity.
Four of the seven scenarios in the paper examine the impact of COVID-19 spreading outside China, ranging from low to high severity. A seventh scenario examines a global impact in which a mild pandemic occurs each year indefinitely.
But even in the low-severity model — or best-case scenario of the seven, which the paper acknowledged were not definitive — ANU researchers estimate a global GDP loss of $2.4 trillion, with an estimated death toll of 15 million.
A pandemic that kills 15 million people would change everything.
…click on the above link to read the rest of the article…
The Pandemic Isn’t Ending, It’s Just the Beginning of Global Disorder and Depression
The Pandemic Isn’t Ending, It’s Just the Beginning of Global Disorder and Depression
When you’ve been lied to, you’ve been betrayed. Betrayal has consequences.
Unsurprisingly, denying the pandemic is unstoppable and consequential is the order of the day: authorities everywhere are terrified these realities might leak through all their oh-so-obviously desperate firewalls and filters. Why are they terrified? Because they know the entire global economy, including the linchpin Chinese and U.S. economies, was extremely fragile before the pandemic arose: why else the panic-stimulus and panic-repo policies of the Federal Reserve and the People’s Bank of China in the pre-pandemic months of Q4 2019?
And so everything is covered up, and if that doesn’t work, then outright denial is the default policy. The number of cases globally is absurdly understated, the number of deaths in China is absurdly under-reported, and so on.
But the biggest denial campaign is aimed at masking the fragility of the global economy, as the only thing keeping the rickety, speculative-bubble, insolvent global economy from imploding is the belief and confidence of the masses that everything is going swimmingly, so keep on borrowing, borrowing, borrowing, buying, buying, buying and speculating, speculating, speculating.
While the real-world battle to limit the spread of the virus in China gets the headlines, the battle inside your head to maintain your confidence in the system is just as important. Economists talk about recession and depression in quantitative terms: deflation, sales, profits, employment and so on.
The key dynamic in recessions and depressions is confidence: confidence that the condo you buy today will be worth a lot more tomorrow, the business investment you make today will generate higher profits tomorrow, your job benefits will increase tomorrow, your house value will rise tomorrow, and so on.
…click on the above link to read the rest of the article…
CDC “Preparing For Coronavirus Pandemic” As It Confirms 11th US Case In California: Virus Updates
CDC “Preparing For Coronavirus Pandemic” As It Confirms 11th US Case In California: Virus Updates
Update (1140AM ET): The number of confirmed coronavirus cases in the US is starting to increase at a concerning pace, and moments ago, the CDC confirmed in a telebriefing that there are 11 cases in the US.
- U.S. CDC CONFIRMS 11 CONFIRMED CORONAVIRUS CASES IN UNITED STATES – TELEBRIEFING
More ominously, the CDC said that the new Coronavirus case is close contact of other California case, and was spread person-to-person.
And while traders were not happy with this latest confirmation that the disease is anything but contained, it is what the CDC aid said next that sent stocks and yields both sliding:
- CDC: PREPARING AS IF CORONAVIRUS WERE THE NEXT PANDEMIC
Judging by the market reaction, it appears that algos are not fans of that word.
Finally, the CDC also said at its briefing that it has added four more airports for screening of Coronavirus.
* * *
Late last night, we reported that the death toll from the coronavirus outbreak had surpassed 360 as more suspected cases popped up in New York. Though no deaths have been reported overnight, Chinese officials warned yesterday that many more cases and deaths would be confirmed on Sunday/Monday.
In the meantime, Chinese markets finally faced their inevitable reckoning. Despite the best efforts of the PBOC and the government, the Chinese market bloodbath was about as bad as expected.
But over in the US, investors ignored the latest news out of China and have seemingly bought into the WHO’s optimistic message and China’s accusations about an ‘alarmist’ Washington.
This is surprising, since anybody who has been paying close attention to the situation in China should know that this is far from the truth.
…click on the above link to read the rest of the article…
