Study Guide: Japan, meltdowns, and the debt

Glenn spent the first fifteen minutes talking about the way the nuclear reactor works in Japan. Want to read more (and possibly get a better understanding than Glenn's M&M demonstration)? Read this form Business Insider

And here's some information on Pimco dumping US Debt:

Charles Payne, Fox Business Network

  • A lot of people have voiced concern about bonds even before PIMCO so others will follow
  • The BOJ is pumping $180 billion into Japanese economy that will keep Yen under pressure by the same token serious demand for funds to rebuild are going to pressure the Yen higher but probably means Japan will be loath to sell US Treasuries because it doesn’t want the dollar to weaken
  • Don’t think there will be an impact beyond Japan with respect to the Yen but I’m watching food commodities. Japan is a major importer of corn (#1) and other food commodities like wheat and there will be so damage to their ability to farm these items...other than that our imports from Japan peaked in 2006 and our exports have been flat…yes, they are still in the $60.0 billion neighborhood but in critical areas that are unlikely to change significantly and not long term
  • Japan has the most debt in the world…no natural resources and has flooded its economy with money so it would be the most vulnerable to hyperinflation of any country on the planet. Just not sure how long it would take…not completely sure on how it impacts US but could force Japan to sell treasuries and that might force the Fed to go with QE3 and continue to lower the dollar and swell it is balance sheet

Steve Moore, Wall Street Journal

  • Pimco is dumping US bonds because the interest rates are way too low given the high rates of potential inflation and higher interest rates to come.
  • No one should buy treasuries now at these low interest rates. The big bubble is in the bond market
  • The Yen is falling as the Japan economy gets creamed by the earthquake.  The dollar will strengthen in short term but stocks will fall.
  • Impact of the earthquake is negative as Japan rebuilds and trade with Japan is curtailed.
  • I don’t see hyper inflation in Japan – we are get greater risk of that than they are – though they have a large debt too.

(Bloomberg, March 9, 2011) Pimco’s Gross Eliminates Government Debt From Total Return Fund

  • Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund last month as the U.S. projected record budget deficits.
  • Pimco’s $237 billion Total Return Fund last held zero government-related debt in January 2009. Gross had cut the holdings to 12 percent of assets in January, according to the Newport Beach, California-based company’s website. The fund’s net cash-and-equivalent position surged from 5 percent to 23 percent in February, the highest since May 2008.
  • Yields on Treasuries may be too low to sustain demand for U.S. government debt as the Federal Reserve approaches the end of its second round of quantitative easing, Gross wrote in a monthly investment outlook posted on Pimco’s website on March 2. Gross mentioned that Pimco may be a buyer of Treasuries if yields rise to attractive levels.

(Marketwatch, March 14, 2011) Yen retreats as Bank of Japan adds stimulus

http://www.marketwatch.com/story/japan-yen-falls-back-as-stocks-slump-after-quake-2011-03-13

  • LONDON (MarketWatch) — The yen retreated versus major rivals in choppy trade on Monday, as the Bank of Japan provided a massive dose of liquidity and voted to further loosen its monetary policy in the wake of last week’s devastating earthquake and tsunami.
  • The central bank injected a total of 15 trillion yen ($183 billion) into the markets Monday in a bid to bolster financial stability
  • The U.S. dollar rebounded sharply to ¥82.03 on Monday, after tumbling to a 2011 low of ¥80.60 earlier in the day, from ¥81.88 in New York late Friday.
  • The path for the yen remains uncertain as traders weigh the implications of the disaster, with some strategists looking for the currency to appreciate as insurance firms and others repatriate funds.
  • The yen rallied by around 20% in the wake of the January 1995 Kobe earthquake, eventually hitting an all-time high versus the U.S. dollar at ¥79.75.

And Here Comes Inflation….

(Business Insider, by John Maudlin, March 12, 2011)

http://www.businessinsider.com/and-here-comes-inflation-2011-3#ixzz1GaB9KRYL

  • Bernholz examined 12 of the 29 hyperinflationary episodes where significant data exist. Every hyperinflation looked the same. “Hyperinflations are always caused by public budget deficits which are largely financed by money creation.” But even more interestingly, Bernholz identified the level at which hyperinflations can start. He concluded that “the figures demonstrate clearly that deficits amounting to 40 percent or more of expenditures cannot be maintained. They lead to high inflation and hyperinflations. . . .” Interestingly, even lower levels of government deficits can cause inflation. For example, 20 percent deficits were behind all but four cases of hyperinflation.
  • Stay with us here, because this is an important point. Most analysts quote government deficits as a percentage of GDP. They’ll say, “The United States has a government deficit of 10 percent of GDP.” While this measure makes some sense, it doesn’t tell you how big the deficit is relative to expenditures. The deficit may be 10 percent of the size of the U.S. economy; currently the U.S. deficit is over 30 percent of all government spending. That is a big difference.
  • Interestingly, currently Japan and the United States are not far from levels that have preceded hyperinflations. The big difference between Japan or the United States and countries that have experienced hyperinflations is that the central banks are not monetizing most of the deficit. If they were to do that, then we would be one step away from paying quadrillions of dollars for a stamp or a sandwich (see Figure 8.6). It is extremely important to note Bernholz’s conclusion. Hyperinflations are not caused by aggressive central banks. They are caused by irresponsible and profligate legislatures that spend far beyond their means and by accommodative central banks that lend a helping hand to governments.
  • What are the implications for the present day? Fiscal liabilities are the real threat that will lead to higher inflation, if central banks continue to monetize government liabilities. In the case of a monetization, governments with independently authorized central banks disavow the overly convenient slippery slope option of paying their bills by printing new currency. A government must pay down its liabilities with currency already in circulation or else finance deficits by issuing new bonds and selling them to the public or to their central bank to acquire the necessary money. For the bonds to end up in the central bank, it must conduct an open market purchase. This action increases the monetary base through the money creation process. This process of financing government spending is called monetizing the debt. Monetizing debt is thus a two-step process where the government issues debt to finance its spending and the central bank purchases the debt from the public. The public is left with an increased supply of base money.
  • Hyperinflation completely destroys the purchasing power of private and public savings. No one wants to hold paper money, so it leads to excessive consumption and the hoarding of real assets. Investors face uncertainty and refuse to invest, unemployment skyrockets, and savings flee the country. The best-performing stock market in 2008 was Zimbabwe, which offered people a way to hedge their currency risks, even as their economy plummeted.

(Business Insider, Jan 28, 2010) Japanese Hyperinflation Could Turn The Dollar Into Toilet Paper

http://www.businessinsider.com/japans-hyperinflation-nightmare-2010-1?op=1#ixzz1GaHRzmvI

Frequently billed as a highly stable country, Japan's dark secret is that it should have exploded into a hyper-inflationary death spiral years ago.

Worse yet, it could easily take the U.S. financial system and U.S. dollar down with it. That's because the U.S. depends on Japan to fund its own debt binge.

We're not alone here. These concerns have been heavily informed by the research of Societe Generale. Japanese hyperinflation would be disastrous exactly because it goes against what most investors have been taught to expect

  • Keep in mind that Japan's bond market is the second largest in the world.
  • "As Japan's retirees age and run down their wealth, Japan's policymakers will be forced to sell assets, including US Treasuries currently worth $750bn, or Y70 trillion eight months worth of domestic financing. At nearly 10% of the outstanding US Treasury stock, this might well precipitate other government funding crises."
  • A declining population thus means that more debt is needed for funding, but fewer Japanese are able to buy it. That's the feedback loop that could trigger an explosion of hyperinflation.
  • "So who will fund the Japanese government's deficit in the future? It is not likely to be the international capital markets, especially if its bonds are offering only a 1.5% yield. But if international investors were to demand triple that, pricing JGBs in line with international bond market peers (all priced too generously in my opinion) the game would soon be up because Japan's current debt service already amounts to 35% of pre-bond issuance revenues."
  • The yen would rapidly depreciate as it became clear Japan was at risk of debt default. In a debt crisis, Japan would likely be forced to either devalue the yen in order to wipe away debt values or default on all of its’ own people.
  • Now the American crisis -- America would be in trouble since it would probably lose its second largest debt buyer
  • U.S. bonds yields would rise and the dollar would be under pressure. Japan would likely be selling foreign assets in order to shore up its finances. These assets would include its enormous holdings of U.S. bonds. Less demand for bonds would require higher interest rates to clear the market, all else equal.
  • Rates are forced to rise, which makes debt less manageable and puts the government under pressure. Then markets push interest rates even higher since the government looks like it's having trouble handling its debt, making the debt problem even worse.The dollar keeps tanking

Dr. Robert Epstein, senior research psychologist at the American Institute for Behavioral Research and Technology, joined the "Glenn Beck Radio Program" Monday to discuss what he says is "a relatively simple way to stop the coronavirus dead in its tracks" in a matter of weeks, saving countless lives and safely restarting our economy.

"It might sound impossible at first, but it's well within our capabilities, and it's far less costly and disruptive than what countries around the world are doing now," wrote Epstein in "The Epoch Times."

Find out more at HowToStopTheVirus.com.

Watch the video below to hear the details of Epstein's plan:

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Glenn gives the latest coronavirus numbers, updating YOU on everything needed to know as Americans and officials monitor China's new COVID-19 virus:

Daily Stats as of 5:30 AM CT (from John's Hopkins)

  • Total Confirmed Cases Worldwide: 735,135 (up from 524,478 Friday)
  • Total Confirmed Deaths Worldwide: 34,807 (up from 24,369 Friday)
  • Total Confirmed Recovered Worldwide: 155,950 (up from 125,490 Friday)
  • 5% of Active Cases are considered serious (requiring hospitalization) Steady from 5% Yesterday, but down from 19% high back in February
  • Note that 11% of US Confirmed Cases require Hospitalization, roughly on par with Italy who is at 12% requiring hospitalization.
  • US has 142,746 Confirmed Cases and 2,489 Deaths, up from 85,749 cases and 1,304 deaths Friday
  • In the US, 20,220 citizens are officially hospitalized with COVID-19, another 6,402 with presumptive-positive cases (waiting test results)
  • The United States of America now leads the world in total confirmed cases, with 45,000 more cases than Italy (although Italy leads the world in Deaths with 10,799 officially dead)
  • US has 2,489 Dead vs 4,562 Recovered and 2,970 in Critical Condition
  • The US Currently has 135,695 Active Cases of COVID-19, with less than 0.5% of the total US population actually tested: 851,578 Tests Resulted in 16.5% Confirmed Positive Cases for COVID-19 (note US policy has been to test only patients with positive-symptoms or known exposure to confirmed-infected persons, resulting in high net-positive results vs other countries).
Trump Extends US "Shutdown" Through April 30th https://www.scmp.com/news/world/united-states-canada/article/3077485/coronavirus-trump-says-social-distancing-guidelines
  • The Trump Administration extends recommendations for extreme social distancing, closed schools and houses of worship, work-from-home, and severe travel restrictions through April 30th.
  • The move was based on a simple model: 100-200k deaths if we continued shut-down vs 2-3 Million deaths if we lifted the shutdown in early April.
  • "How do you decide it's ok to let millions of Americans die? You don't." He said during a Rose Garden press conference. "I won't do that."
  • The updated timeline comes as the US President Donald Trump says the death toll from the virus is likely to continue to climb for another two weeks, and estimates that recovery is likely by June 1.
  • Trump said his earlier plan to lift the restrictions by Easter, on April 12, was only "aspirational". "Nothing would be worse than declaring victory before the victory is won," Trump said.
  • Officials in the White House coronavirus task force, including Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci and Dr. Deborah Birx, Deputy to Vice-President Mike Pence, have estimated that COVID-19 would kill as many as 2.2 million Americans if mitigation measures were not in place.
As COVID-19 Epidemic In New York Continues, 9-11 System Is Overwhelmed https://www.nytimes.com/2020/03/28/nyregion/nyc-coronavirus-ems.html
  • 911 Emergency system in New York City & Tri-State Area is receiving over 7,000 calls per day, more than at any time since September 11th, 2001.
  • The System has broken 3 records this past week, with nearly 8,700 calls on Thursday.
  • Many calls are for people with high-fevers and flu-like symptoms including severe cough, chills and difficulty breathing.
  • "It's all a war zone," one of the paramedics said. "There is no way we can respond to this many emergency calls."
  • Because of the high-risk of COVID-19 infection, many life-saving procedures have been suspended, including CPR and artificial respiration.
  • By Friday, more than 206 emergency medical technicians from the NY Fire Department had tested positive for COVID-19. Another 750 NYPD officers have also tested positive, and more than 10% of New York's police force is currently offline due to infection or Quarantine due to suspected infection.
  • One Paramedic who chose not to be named estimated that over 20% of 9-11 calls are going unanswered. "I can see them on my screen, with no units responding," he said.
In Yet Another Scene Out of a Hollywood Disaster Movie, Field Hospital Is Being Set Up in Central Park https://news.yahoo.com/field-hospital-set-yorks-central-park-202813283.html
  • Residents posted pictures of make-shift field hospitals being set up in Central Park in Manhattan.
  • Dozens of people worked in a drizzle to erect the facility for an expected influx of COVID-19 patients at the epicenter of the US COVID-19 pandemic.
  • Samaritan's Purse, a US-based Christian global relief agency, is setting up the hospital on the park's East Meadow lawn, where workers in face masks unloaded a white tarp and other equipment on the grass.
  • "There are lots of cases here in New York and a lot of people that need help," said Elliott Tenpenny, a doctor and team leader for Samaritan's Purse COVID-19 Response Team.
  • "The hospitals all over the city are filling up and they need as much help as they can get. That's why we're here."
  • He said the charity was working with New York Governor Andrew Cuomo, the Federal Emergency Management Agency and Mount Sinai, with the aim of receiving patients within two days.
  • Unlike other temporary facilities going up in the New York region, this site will have the equipment and personnel necessary to handle COVID-19 patients. Tenpenny called it a "respiratory focused field hospital" which will have a capacity of 68 patients, and the doctors and nurses to treat them.
  • Samaritan's Purse has set up a similar temporary hospital in Cremona, Italy, the country with the highest COVID-19 death toll.
Your Papers Please! US State by State Travel Restrictions & Warnings Go Into Effect https://www.the-sun.com/news/604376/andrew-cuomo-new-york-coroanvirus-slams-donald-trump/One Week After Mexican Governor Claims Poor People Are Immune, Epidemic Evident in Mexico https://www.msn.com/en-us/finance/markets/hugs-kisses-dining-out-during-virus-raise-fear-in-mexico/ar-BB11SinY
  • "Mexico's response was late, wrong and slow, and many people are going to die," said Dr. Carlos del Rio, an infectious disease specialist at Emory University in Atlanta, Georgia. "There's no reason to believe the virus here should behave differently among this population. Cases are growing exponentially."
  • President Andres Manuel Lopez Obrador of Mexico was still hugging and kissing constituents. As recently as eight days ago, he urged them to keep eating out at restaurants.
  • Stung by global criticism and disapproving national polls, the leftist populist widely known as AMLO began to shift in recent days.
  • Schools were closed on March 20; four days later, the country's 51 testing sites broadened their reach to include testing as many as 2,200 persons per day, mostly in Mexico City.
  • Finally, on Saturday, March 28th, the deputy health minister called on Mexicans to stay home, saying it was the "last opportunity" to slow down the virus, with more than 20,000 confirmed infected.
  • "It may be too late. Thousands may die," said Dr del Rio.
Hundreds of Thousands of Migrant Workers Suddenly Homeless https://www.nytimes.com/2020/03/29/world/asia/coronavirus-india-migrants.html
  • In India, hundreds of thousands of day-laborers were suddenly homeless due to COVID-19 travel restrictions and work shut-downs.
  • Many day-laborers are used to being provided dorm-like beds while on the job, but with work-sites closed down and national transportation systems offline, parks and public spaces are suddenly filled with thousands of men sleeping on sidewalks and in open fields.
  • Soup kitchens in Delhi, the capital, have been overwhelmed. "We normally get a thousand people per day," said one worker. "Today more than 10,000 people lined up before we served our first bowl."
  • So far, more than a dozen migrant laborers have lost their lives in different parts of the country as they tried to return to their home, hospital officials said.
  • Thousands of migrants in Delhi, including whole families, packed their pots, pans and blankets into rucksacks, some balancing children on their shoulders as they walked along interstate highways.
  • Some planned to walk hundreds of miles. But as they reached the Delhi border, many were beaten back by the police under orders to now allow any crossings until further notice.
UN Global Food Supply Panel Warns of Pending Food Shortage https://www.theguardian.com/global-development/2020/mar/26/coronavirus-measures-could-cause-global-food-shortage-un-warns
  • Protectionist measures by national governments during the coronavirus crisis could provoke food shortages around the world, the UN's food body has warned.
  • A shortage of field workers brought on by the virus crisis and a move towards protectionism – tariffs and export bans – mean problems could quickly appear in the coming weeks, Maximo Torero, Chief Economist of the UN Food and Agriculture Organisation said.
  • "The worst that can happen is that governments restrict the flow of food," he said. "All measures against free trade will be counterproductive. Now is not the time for restrictions or putting in place trade barriers. Now is the time to protect the flow of food around the world."
  • "We need to be careful not to break the food value chain and the logistics or we will be looking at problems with fresh vegetables and fruits soon," said Torero. "Fruit and vegetables are also very labor-intensive... if the labor force is threatened because people can't move then you have a problem."
  • Warnings from the UN come as the EU reportedly plans to provide transportation of more than 70,000 farmworkers from Eastern Europe to France, Belgium and Spain to help with planting season. https://thehill.com/policy/international/489783-united-nations-warns-of-global-food-shortage-caused-by-coronavirus
  • Warnings were less severe in the US, which relies less on global food production for domestic consumption. "There is plenty of food in the US system," said Sonny Perdue, US Secretary of Agriculture. "The US is a net exporter of food supplies, so we can just keep more of our food at home this year."
New Report Estimates US Economic Impact at $1 Trillion GDP Losses Per Month https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Risk/Our%20Insights/COVID%2019%20Implications%20for%20business/COVID%2019%20March%2025/COVID-19-Facts-and-Insights-March-25-v3.ashx
  • A study from consulting firm McKinsey & Company estimates the total GDP impact of COVID-19 could exceed $1 Trillion per month starting from March, 2020.
  • The study includes only economic losses in the Private sector and did not calculate the impact of Government-funded bailouts or spending, and future economic losses due to higher debt payments.
  • McKinsey estimates losses in the Oil/Gas sector to exceed 50% for 2020 compared to prior forecasts, and for US retail to suffer losses in excess of 25% compared to 2019.
  • "In a Word: Catastrophic," said lead author of the study. "We'll be digging out from this hole for years to come."
  • McKinsey's study noted its estimates did not include official economic figures for Q1, 2020, expected to be released by the US Government in the coming week.
  • Overall, McKinsey is estimating a broad U-shaped recovery starting in Q3, 2020, but said it was entirely dependent on how quickly US companies could return workers to productivity as well as the impact to the global demand for US goods & technology.
  • "We don't yet know how the World will recover from COVID-19 or how long it will take. There are more unknowns than there are knowns," the study concluded.
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Government Quietly Prepares a Bank Rescue Plan - Just In Case https://www.politico.com/news/2020/03/27/congress-coronavirus-bank-rescue-152501

  • Just days after the FDIC issued a video urging Americans to not withdrawn cash from Banks, reports emerge that the US Senate and Treasury are working on separate plans to prevent banks from becoming unstable amid the COVID-19 Pandemic.
  • Plans range from limiting withdrawals for foreign investors and savers, as well as providing extra liquidity to banks to cover US Consumer withdrawals up to $10,000.
  • Washington's move to stand behind the banking industry underscores the aggressive efforts underway by officials throughout the government to prepare for the worst — including potential runs on deposits as the economic outlook darkens.
  • "The banks are in very good shape, but people are panicking anyway," said Karen Petrou, a managing partner at Federal Financial Analytics who advises bank executives on policy issues.
  • The Federal Reserve Insurance Corporation (FDIC) recently released a one-minute video encouraging people to keep their money in banks.
  • In the video, Chairman Jelena McWilliams emphasizes that hoarding cash in mattresses in 1933 "didn't pan out well for so many people." The video is intended to discourage a bank run.
  • "The last thing you should be doing is pulling your money out of the banks now, thinking that it's going to be safe for someplace else," she said in the video.
  • The FDIC has more than $2.05 billion in cash reserves, as well as a $100 billion credit line with the US Treasury to cover bank runs, according to a 2018 US Government audit.
  • US Consumers have more than $1.7 Trillion deposited at US Banks, not including home-equity loans or lines of credit.

On "GlennTV" this week, Glenn Beck exposed what is being done to our rights, our livelihood, and our nation -- all in the name of controlling the COVID-19 pandemic. Are we losing the America we love to the "Big Government virus"?

Former Obama adviser Rahm Emanuel famously said, "Never allow a crisis to go to waste," and the government has made those words their mantra. Progressive politicians, like New York City's Mayor Bill De Blasio, have already called this crisis a "case for nationalization!"

Once these "temporary government programs" are passed, usually in answer to a national emergency, there's no going back. In 2012, before he was president, Donald Trump tweeted economist Milton Friedman's prophetic quote: "Nothing is so permanent as a temporary government program."

Donald Trump was right. Case in point, we currently have 31 national emergencies still in effect that date back to former President Jimmy Carter.

The Pentagon's Cold War-era "Continuity of Government Commission" even covers health emergencies, thus allowing for federal troops to take the reins from elected civilians. Sound far-fetched? Read about it here.

According to Army doctrine publication (ADP) 3-28, distributed a July 2019, the military is authorized by the Pentagon to enforce domestic laws under "rare circumstances" – including health emergencies and natural disasters.

And then there's the issue of government surveillance ...

Below is a short clip from Glenn's Wednesday night special: "Big Government Virus: Never Let a Crisis Go to Waste". The full episode can be found exclusively on BlazeTV.com.

Use code GLENN to save $10 on one year of BlazeTV.

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Glenn gives the latest coronavirus numbers, updating YOU on everything needed to know as Americans and officials monitor China's new COVID-19 virus:

Daily Stats as of 5:30 AM CT (from John's Hopkins)

  • Total Confirmed Cases Worldwide: 542,478 (up from 486,702 Yesterday)
  • Total Confirmed Deaths Worldwide: 24,369 (up from 22,022 Yesterday)
  • Total Confirmed Recovered Worldwide: 125,490 (up from 117,448 Yesterday)
  • 5% of Active Cases are considered serious (requiring hospitalization) UP from 4% Yesterday, but down from 19% in February
  • Note that 7% of US Confirmed Cases require Hospitalization
  • US has 85,749 Confirmed cases and 1,304 Deaths, up from 65,581 cases and 1,036 deaths yesterday
  • The United States of America now leads the world in total confirmed cases, with 4,409 more cases than China
  • US has 1,868 officially recovered, against 1,304 deaths

After Terrifying World Governments Into Committing Financial Suicide, UK Scientist Reduces His Death Forecast by 95% https://www.newscientist.com/article/2238578-uk-has-enough-intensive-care-units-for-coronavirus-expert-predicts/
  • The UK should now be able to cope with the spread of the COVID-19 virus, according to one of the leading epidemiologists advising the UK government.
  • Neil Ferguson at Imperial College London gave evidence yesterday to the UK's parliamentary select committee on science and technology.
  • He said that expected increases in National Health Service capacity and ongoing restrictions to people's movements make him "reasonably confident" the health service can cope when the predicted peak of the epidemic arrives in two or three weeks.
  • UK deaths from the disease are now unlikely to exceed 20,000, he said, and could be much lower.
  • His previous and dire prediction, from just 10 days ago, was that as many as 500,000 Brittons would likely die.
  • The need for intensive care beds will get very close to capacity in some areas, but won't be breached at a national level, said Ferguson.
  • The new projections are based on computer simulations of the virus spreading, which take into account the properties of the virus, the reduced transmission between people asked to stay at home and the capacity of hospitals, particularly intensive care units.
  • "We'll be paying for this year for decades to come," Ferguson said. "But if people follow the Government's guidelines, we'll be able to cope."
UK Prime Minister Positive https://news.sky.com/story/coronavirus-boris-johnson-tests-positive-for-covid-19-11964493
  • Boris Johnson, Prime Minister of the United Kingdom, has confirmed he tested positive for COVID-19
  • "Over the last 24 hours I have developed mild symptoms and tested positive for coronavirus," he said via Twitter.
  • "I am now self-isolating, but I will continue to lead the government's response via video-conference as we fight this virus."
  • Mr. Johnson, whose partner Carrie Symonds is pregnant, will isolate for 2-weeks, a spokesperson confirmed.
  • "Together we will beat this. #StayHomeSaveLives."
"Poor People Are Immune" Claims Mexican Governor https://www.cnn.com/2020/03/26/americas/mexico-coronavirus-luis-miguel-barbosa-intl/index.html
  • The governor of the central Mexican state of Puebla told reporters Wednesday that poor people "are immune" from the coronavirus.
  • During his remarks, which broadcast live on YouTube and Facebook, Gov. Luis Miguel Barbosa posed a question, asking reporters which people were infected at the moment.
  • "The majority are wealthy people, you know," he said, answering his own question. "If you're rich you're at risk, but if you're poor, no, well us poor, we are immune."
  • There is no scientific evidence to suggest the virus affects people differently due to economic status. His remarks sparked an uproar on social media, with many questioning why a government official would spread information that has no basis in fact.
  • Barbosa noted that many of those who contracted the virus had recently traveled, suggesting a link between wealth and travel.
Trump: Maybe Don't Shake Hands Every Again https://ca.news.yahoo.com/trump-suggests-americans-shouldn-t-221802199.html
  • President Donald Trump suggested that Americans should consider giving up the tradition of greeting each other with a hand-shake -- forever.
  • Trump has set a goal of returning Americans back to work by Easter, despite the coronavirus outbreak, but he said at a White House news conference on Thursday that they shouldn't entirely abandon "social distancing" practices, especially shaking hands.
  • "Maybe people aren't going to be shaking hands anymore," Trump said, adding that he had discussed the practice with Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases.
  • "He was saying the regular flu would be cut down by quite a bit if we didn't do that - if we didn't shake hands," Trump said.
Even In A Pandemic, Fake Meat Won't Sell https://dailycaller.com/2020/03/26/coronavirus-food-shopping-vegan/
  • Vegan and plant-based can be seen in proportions that appear recently stocked at grocery stores across the US.
  • "Not even in a crisis will folks buy the plant-based hot dogs," Tweeted one observant citizen with a picture of the frozen food aisle baren except for tofu hot dogs.
  • "Let's face it, they taste like crap. I'd rather starve," said another via Twitter. "Not enough mustard in the world to cover-up that stuff."
  • Another user closed the book on the topic, "Two observations today from the grocery store. Plant-based fake-meats are not desired - and people need to smile more! Good day!"
Patriot Thomas Massie Defends Constitution, Gets Persecuted https://www.foxnews.com/politics/extreme-precautions-ordered-in-house-ahead-of-historic-vote-on-largest-stimulus-package-in-us-history
  • In no small feat of bravery, Massie stands alone against a tyranny born of fear.
  • Furious lawmakers voiced serious concerns on Capitol Hill late Thursday that a Republican House member could "go rogue" and possibly scuttle a vote on the $2 trillion coronavirus stimulus package.
  • Fox News is told there is deep worry on both sides of the aisle that Rep. Thomas Massie, R-Ky., could try to sidetrack House plans to quickly approve the coronavirus bill via a "voice vote" -- a verbal exercise in which those in favor shout yea, and those opposed holler nay. The loudest side would prevail.
  • "It's the Thomas Massie show," said one senior Republican source who asked to not be identified.
  • "He is going to do it," a senior Republican leadership source told Fox News, explaining that leadership had tried every type of arm twisting -- and it's not working.
  • The source said he was actively calling members and telling them to get on planes in the morning to come back to Washington so that a quorum of 216 members could be established if Massie were to demand one.
  • The source explained that Massie got a very forceful call from a member of the House Freedom Caucus urging him to allow the voice vote, but Massie won't budge.
  • The 880-page coronavirus stimulus package would amount to the largest economic relief bill in the history of the U.S. for individuals, large corporations, and small businesses -- and its unanimous passage in the Senate came despite grave concerns on both sides about whether it involved too much spending or not enough.
  • Massie did not respond to multiple requests for comment late Thursday. It was unclear exactly why he may want to delay the bill, which some lawmakers have said contains too much wasteful spending -- including $25 million for the John F. Kennedy Center for the Performing Arts in Washington, D.C. and $10 million to fund US Salmon hatcheries in Alaska.