COVID Corruption News Stories

Excerpts of Key COVID Corruption News Stories in Major Media

Below are key excerpts of revealing news articles on COVID corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

For further exploration, delve into our comprehensive Coronavirus Information Center.

Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

Whether the coronavirus vaccine developed by Moderna succeeds or not, executives at the small biotech company have already made tens of millions of dollars by cashing in their stock. An NPR examination of official company disclosures has revealed additional irregularities and potential warning signs. Since January, CEO Stéphane Bancel has sold roughly $40 million worth of Moderna stock; Chief Medical Officer Tal Zaks has sold around $60 million; and President Stephen Hoge has sold more than $10 million. The stock sales first came to widespread notice after Moderna announced positive early data from a vaccine trial in May. At that point, the company's share price jumped and official disclosures showed executives cashing in their shares for millions of dollars. Advocates have questioned whether it's appropriate for executives to privately profit before bringing the vaccine to market, especially when American taxpayers have committed roughly $2.5 billion to the company's vaccine development. Moderna says its executives pre-scheduled their stock sales long in advance. Those schedules - known as 10b5-1 plans - can act as a defense to charges of insider trading. But the plans have to be put in place when executives do not have confidential inside information. NPR has found multiple executives adopted or modified their plans just before key announcements about the company's vaccine. That has raised questions about whether they were aware of nonpublic information when they planned their stock trades.

Note: Explore a revealing NBC article titled "Secret, powerful panels will pick Covid-19 vaccine winners." For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.

AstraZeneca revealed details of its large coronavirus vaccine trials on Saturday, the third in a wave of rare disclosures by drug companies under pressure to be more transparent about how they are testing products that are the world's best hope for ending the pandemic. Polls are finding Americans increasingly wary of accepting a coronavirus vaccine. Experts have been particularly concerned about AstraZeneca's vaccine trials, which began in April in Britain, because of the company's refusal to provide details about serious neurological illnesses in two participants, both women, who received its experimental vaccine in Britain. Those cases spurred the company to halt its trials twice, the second time earlier this month. The studies have resumed in Britain, Brazil, India and South Africa, but are still on pause in the U.S. About 18,000 people worldwide have received AstraZeneca's vaccine so far. The company has released few details about the two cases of serious illness in its trial. The first participant received one dose of the vaccine before developing inflammation of the spinal cord, known as transverse myelitis. The condition can cause weakness in the arms and legs, paralysis, pain and bowel and bladder problems. The company said it had not confirmed a diagnosis in the second case, a participant who got sick after the second dose of the vaccine. A person familiar with the situation who spoke with The Times on the condition of anonymity said the participant's illness had been pinpointed as transverse myelitis.

Note: Why won't the company let the two who became seriously ill speak to the media? And why initially did they hide the fact that the illnesses were serious? And why are top vaccine executives now dumping their shares of stocks? For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.

Nashville officials reportedly concealed the low number of COVID-19 cases deriving from bars and restaurants in the city, according to emails between the Metro Health Department and Mayor John Cooper's office. On June 30, contact tracing found that construction and nursing homes were the cause of most Nashville coronavirus cases with thousands traced back to those specific categories. Only 22 cases were traced back to bars and restaurants. In the series of emails obtained by FOX 17 News, a discussion between the two offices about how to conceal the number associated with restaurants and bars from the public was shown. "This isn't going to be publicly released, right? Just info for Mayor's Office?" wrote Leslie Waller from the health department. Senior Advisor Benjamin Eagles responded: "Correct, not for public consumption." A month later ... reporter Nate Rau asked the health department about rumors circulating that only 80 cases resulted from the city's bars and restaurants. Rau asked: "The figure you gave of 'more than 80' does lead to a natural question: If there have been over 20,000 positive cases of COVID-19 in Davidson and only 80 or so are traced to restaurants and bars, doesn't that mean restaurants and bars aren't a very big problem?" "We raised taxes 34 percent and put ... literally thousands of people out of work that are now worried about losing their homes, their apartments ... and we did it on bogus data. That should be illegal," [Nashville Councilman Steve] Glover told FOX 17 News.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and government corruption from reliable major media sources.

Media portrayals of adolescence shape how society views young people and, as positive youth development scholars note, whether they are seen as risks to be managed or resources to be developed. My own research on adolescent mindfulness and virtue inspired me to learn more about how adolescents are faring during the pandemic. Zoya Sethi is a ninth grader from Delhi, India. She and four of her friends observed that after the shutdown of industries in the cities, millions migrated hundreds of kilometers by foot back to their villages, and women had no access to feminine hygiene pads. In response, they began a campaign through Instagram (@we_standwithher). Lucas Hung is a 12th grader from Vancouver, British Columbia. He and four friends similarly used Instagram to raise funds for those in need, with the dual goal of uniting their classmates (@_viralcause_) The teens also found meaning in smaller acts of service that filled critical needs in their communities. “It was so cool to see that something as small as offering to teach a 40-minute online dance class to their kids could make parents’ lives so much better,” explained Devyn Slade, a 12th grade volunteer dance instructor. Teens also empathized with the plight of seniors in retirement communities. One group wrote letters to older adults, “trying to make them feel connected, seen, and loved during this time where they’re facing tons of isolation and fear and hard times,” said Connor Macmillan, a 12th grade water polo player.

Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.

More states and countries are coming to the conclusion that COVID-19 lockdowns like those in China and New Zealand are overly restrictive and too costly. People in democracies will simply not tolerate them. Sweden has "flattened the curve" of COVID-19 without ordering its citizens to stay inside. It has kept open its shops, schools for those under 16, and restaurants and bars. Its health authorities trusted its citizens to wash their hands and social distance without imposing laws. Anders Tegnell, the Swedish epidemiologist [said,] "We see no point in wearing a face mask." Swedish health authorities ... pride themselves on "following the science" and are highly respected. Sweden made a mistake ... when it, like the state of New York, sent recovering patients back to their nursing homes too soon (in the U.S., nursing home residents [and staff] account for ... 45% of COVID-19 fatalities). [Yet Swedish] schools stayed open with little risk to students. Studies from Sweden and the Netherlands ... have found teachers at no greater risk than the overall population. Sweden is approaching record lows while its European neighbors are seeing increasing rates. Sweden had about 30,000 new cases in June ... and was down to 7,000 new cases in August. During this time, cases took off in Spain, France and Germany. Sweden's current rate of positive tests is lower than those in Norway and Denmark. [Its] economy will contract by about 4.6%. In contrast, the European Union economy is expected to contract 11.9%. The U.S. economy contracted at a 32.9% annual rate between April and June. New Zealand's GDP contracted by 13.8% in the April-June period and has entered a recession, which Sweden has not.

Note: Explore a revealing article in the BMJ (formerly British Medical Journal) for more on Sweden's unusual success. Read a balanced, informative New York Times article written by a Swede about her experience there. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

Some of the nation's leading public health experts are raising a new concern in the endless debate over coronavirus testing in the United States: The standard tests are diagnosing huge numbers of people who may be carrying relatively insignificant amounts of the virus. Most of these people are not likely to be contagious. The most widely used diagnostic test for the new coronavirus, called a PCR test, provides a simple yes-no answer to the question of whether a patient is infected. "We've been using one type of data for everything, and that is just plus or minus – that's all," [epidemiologist Dr. Michael] Mina said. "We're using that for clinical diagnostics, for public health, for policy decision-making." But yes-no isn't good enough, he added. It's the amount of virus that should dictate the infected patient's next steps. The PCR test amplifies genetic matter from the virus in cycles; the fewer cycles required, the greater the amount of virus, or viral load, in the sample. The greater the viral load, the more likely the patient is to be contagious. This number of amplification cycles needed to find the virus, called the cycle threshold, is never included in the results sent to doctors and coronavirus patients, although it could tell them how infectious the patients are. In three sets of testing data that include cycle thresholds, compiled by officials in Massachusetts, New York and Nevada, up to 90 percent of people testing positive carried barely any virus, a review by The Times found.

Note: Learn lots more about inflated COVID numbers in this revealing article. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

While many European countries are seeing new cases surge to levels not seen since the peak of the Covid-19 pandemic, Sweden – whose light-touch approach has made it an international outlier – has one of the continent’s lowest infection rates. According to the European Centre for Disease Prevention and Control (ECDC), [its] 14-day cumulative total of new cases was 22.2 per 100,000 inhabitants on Tuesday, against 279 in Spain, 158.5 in France, 118 in the Czech Republic, 77 in Belgium and 59 in the UK, all of which imposed lockdowns this spring. Sweden also has fewer new daily infections than Norway and Denmark. Thirteen Covid-19 patients are in intensive care in Swedish hospitals, and its seven-day average of coronavirus-related deaths is zero. “We don’t have the resurgence of the disease that many countries have,” Anders Tegnell, the country’s chief epidemiologist [said] in an interview, adding that the country was broadly happy with its overall strategy. Unlike many countries, Sweden closed schools for the over-16s but kept those for younger pupils open. Schools and universities are now open again. It also banned gatherings of more than 50 people and told people over 70 and in at-risk groups to self-isolate. Otherwise, the population of 10 million was asked, rather than ordered, to respect physical distancing and work from home if possible. Shops, bars, restaurants and gyms stayed open and the wearing of masks has not so far been recommended. Tegnell has insisted the aim was not to achieve rapid herd immunity but to slow the spread of coronavirus enough for health services to be able to cope.

Note: A Swedish MD on the front lines shares thoughts on why Sweden's COVID death rate has been in the single digits for weeks. Read a balanced, informative New York Times article written by a Swede about her experience there. This graph shows that Sweden is doing well compared to other countries considering that they have not instituted a lockdown. For more, see concise summaries of revealing news articles on the coronavirus from major media sources.

Dr Stefan Peterson, chief of health at Unicef, cautioned that the blanket lockdowns imposed in many low and middle income [countries] are not an effective way to control Covid-19 and could have deadly repercussions. “Indiscriminate lockdown measures do not have an optimal effect on the virus,” he [said]. “If you’re asking families to stay at home in one room in a slum, without food or water, that won’t limit virus transmission. I’m concerned that lockdown measures have been copied between countries for lack of knowing what to do, rarely with any contextualisation for the local situation.” According to a stark report published in Lancet Global Health journal on Wednesday, almost 1.2 million children could die in the next six months due to the disruption to health services and food supplies caused by the coronavirus pandemic. The modeling ... found that child mortality rates could rise by as much as 45 per cent due to coronavirus-related disruptions, while maternal deaths could increase by almost 39 per cent. Dr Peterson said these figures were in part a reflection of stringent restrictions in much of the world that prevent people leaving their homes without documentation, preventing them from accessing essential health care services. In some countries the public are also avoiding hospitals and health centres for fear of picking up Covid-19. Dr Peterson warned that these trends have resulted in a reduction in the “effective utilization of services” - a shift which ... could be more dangerous than the virus itself.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

In response to the novel and deadly coronavirus, many governments deployed draconian tactics never used in modern times: severe and broad restrictions on daily activity that helped send the world into its deepest peacetime slump since the Great Depression. The equivalent of 400 million jobs have been lost world-wide, 13 million in the U.S. alone. Global output is on track to fall 5% this year, far worse than during the financial crisis. Despite this steep price, few policy makers felt they had a choice, seeing the economic crisis as a side effect of the health crisis. They ordered nonessential businesses closed and told people to stay home, all without the extensive analysis of benefits and risks that usually precedes a new medical treatment. Five months later, the evidence suggests lockdowns were an overly blunt and economically costly tool. The evidence also points to alternative strategies that could slow the spread of the epidemic at much less cost. Taiwan, South Korea and Hong Kong set early examples of how to stop Covid-19 without lockdowns. They quickly cut travel to China, introduced widespread testing to isolate the infected and traced contacts. Sweden took a different approach. Instead of lockdowns, it imposed only modest restrictions to keep cases at levels its hospitals could handle. Sweden has suffered more deaths per capita than neighboring Denmark but fewer than Britain, and it has paid less of an economic price than either.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

As the SARS-CoV-2 pandemic continues to explode, hospital systems are scrambling to intensify their measures for protecting patients and health care workers. Providers are wondering whether this effort should include universal use of masks by all health care workers. Wearing a mask outside health care facilities offers little, if any, protection from infection. Public health authorities define a significant exposure to Covid-19 as face-to-face contact within 6 feet with a patient with symptomatic Covid-19 that is sustained for at least a few minutes (and some say more than 10 minutes or even 30 minutes). The chance of catching Covid-19 from a passing interaction in a public space is therefore minimal. In many cases, the desire for widespread masking is a reflexive reaction to anxiety over the pandemic. The calculus may be different, however, in health care settings. There are two scenarios in which there may be possible benefits. The first is during the care of a patient with unrecognized Covid-19. More compelling is the possibility that wearing a mask may reduce the likelihood of transmission from asymptomatic and minimally symptomatic health care workers with Covid-19 to other providers and patients. A mask will not protect providers caring for a patient with active Covid-19 if it’s not accompanied by meticulous hand hygiene, eye protection, gloves, and a gown. Focusing on universal masking alone may, paradoxically, lead to more transmission of Covid-19 if it diverts attention from ... more fundamental infection-control measures.

Note: For more information on this article, see this educational commentary. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

The Australian state of Victoria [announced] on Tuesday that military personnel will be deployed to enforce Covid-19 lockdown orders, amid growing concerns about attacks on police. Authorities warned police were facing a sometimes violent resistance, often by so-called 'sovereign citizens' groups who considered themselves above the law. Victoria earlier this week imposed a night curfew, tightened restrictions on people's daily movements and ordered large parts of the local economy to close to slow the spread of coronavirus. But nearly a third of those who contracted Covid-19 were not home isolating when checked on by officials, requiring tough new penalties, Daniel Andrews, the state premier, said. Fines of nearly A$5,000 (Ł2,710) will be issued to anyone breaching stay at home orders. Repeat offenders face a fine of up to A$20,000. "There is literally no reason for you to leave your home and if you were to leave your home and not be found there, you will have a very difficult time convincing Victoria police that you have a lawful reason," Mr Andrews told reporters in Melbourne. The only exemption will be for urgent medical care, said Mr Andrews, adding anyone under a self-isolation order will no longer be allowed to leave their homes for outdoor exercise. Mr Andrews said an additional 500 unarmed military personnel will this week deploy to Victoria to assist police in ensuring self-isolation orders are being complied with. The latest military deployment will join about 1,500 troops already in Victoria.

Note: Learn more about the incredible, draconian measures being taken in Australia in this article banned by facebook. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

The nation's mental health is languishing, according to data reported this week as part of the US Centers for Disease Control and Prevention's Morbidity and Mortality Weekly Report. Suicidal ideation is up among young people since last year, with as many as one in four people ages 18 through 24 having seriously considered suicide in the 30 days preceding the survey. In the general US population, the CDC reported that 11% of adults surveyed had seriously considered suicide in the past 30 days before they completed the survey. Among those identifying as Black or Hispanic, the numbers were worse: 19% of Hispanics reported suicidal ideation and 15% of Blacks reported suicidal thoughts. The results reflect a nation increasingly on edge. The number of Americans reporting anxiety symptoms is three times the number at this same time last year, the CDC said. "Previous events have had a start, middle, an end," said Vaile Wright [with] the American Psychological Association. "People can't disconnect from this." Add on the pressures of the economy, the increased scrutiny on racial injustice and the looming specter of the presidential election, and it's hard for many to feel like things might turn out OK. The stress is disproportionately falling on the young. On an individual level, Wright noted that the main pillars of psychological health include eating healthy, staying active, getting enough sleep and maintaining social connections. But figuring out healthy ways to socialize virtually can require being intentional.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and health from reliable major media sources.

The coronavirus pandemic now ravaging the United States should lead every American to a series of important questions: What are the real threats that I face? What has my government been prioritizing in terms of my - and the nation’s - security? And where has all my tax money been going? It’s hard not to conclude that the American government’s national security priorities have been so askew of reality that they left the country dramatically unprepared for an acute threat to millions of its people. The government’s focus has been overwhelmingly on the threat of extremist groups and unfriendly regimes abroad, mostly in the Middle East. These confrontations have won America an ever-growing list of enemies around the world. But their impact on the United States itself is now also being painfully revealed: a country that has spent trillions on foreign wars but is unable to defend its citizens from basic threats like disease and economic collapse. The last few weeks have revealed a spectacle of a federal government apparently incapable of doing what is required to stop the spread of a pandemic on American soil. Meanwhile, the avalanche of military spending that was released after the September 11 attacks continues to roll onwards. According to Brown University’s Costs of War Project, the U.S. government has spent a staggering $6.4 trillion on its wars in Afghanistan, Iraq, and Pakistan since 2001. Interest payments on the borrowing needed to pay for the wars ... could run to as much as $8 trillion by midcentury.

Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus from reliable major media sources.

What Americans need to understand about the race to find vaccines and treatments for Covid-19 is that in the U.S., even when companies appear to downshift from maximum greed levels – and it's not at all clear they've done this with coronavirus treatments – the production of pharmaceutical drugs is still a nearly riskless, subsidy-laden scam. Americans reacted in horror five years ago when a self-satisfied shark of an executive named Martin Shkreli, a.k.a. the "Pharma Bro," helped his company, Turing Pharmaceuticals, raise the price of lifesaving toxoplasmosis drug Daraprim from $13.50 to $750 per pill. Shkreli, who smirked throughout congressional testimony ... was held up as a uniquely smug exemplar of corporate evil. Really, the whole industry is one big Shkreli, and Covid-19 – a highly contagious virus with unique properties that may require generations of vaccinations and booster shots – looms now as the ultimate cash cow for lesser-known Pharma Bros. "The power of the industry combined with fear is driving extraordinary spending," says U.S. Rep. Lloyd Doggett (D-Texas), who has been ... warning about pandemic profiteering. "It all suggests rosy times ahead for the pharmaceutical industry." Recent House and Senate emergency-spending bills allocate as much as $20 billion or more for vaccine development, and another $6 billion for manufacturing and distribution. "The public will pay for much research and manufacturing," says Doggett. "Only the profits will be privatized."

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources

U.S. stocks are hovering near a record high, a stunning comeback since March that underscores the new phase the economy has entered: The wealthy have mostly recovered. The bottom half remain far from it. Jobs are fully back for the highest wage earners, but fewer than half the jobs lost this spring have returned for those making less than $20 an hour. The pandemic is causing especially large gaps between rich and poor, and between White and minority households. It is also widening the gap between big and small businesses. Some of the largest companies, such as Nike and Best Buy, are enjoying their highest stock prices ever while many smaller businesses fight for survival. Some economists have started to call this a “K-shaped” recovery because of the diverging prospects for the rich and poor, and they say policy failures in Washington are exacerbating the problems. For many of the unemployed, the downturn is lasting far longer than they had anticipated. Nearly 80 percent of furloughed or laid-off workers thought they would be rehired, a Washington Post-Ipsos poll conducted April 27-May 4 found. Yet so far, only 42 percent of jobs have returned. “This has been a very clear K-shaped recovery,” says Peter Atwater ... at the College of William & Mary. “The biggest and wealthiest have been on a clear path toward recovery. Meanwhile, for most small businesses and those worst off, things have only become worse. The contrast is piercing: One group feels better than ever while the other borders on hopelessness.”

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and income inequality from reliable major media sources.

So now we know: Sweden got it largely right, and the British establishment catastrophically wrong. Anders Tegnell, Stockholm’s epidemiologist-king, has pulled off a remarkable triple whammy: far fewer deaths per capita than Britain, a maintenance of basic freedoms and opportunities, including schooling, and, most strikingly, a recession less than half as severe as our own. Politicians can react in one of three ways to a pandemic. They can do nothing, and allow the disease to rip until herd immunity is reached. Quite rightly, no government has pursued this policy, out of fear of mass deaths and total social and economic collapse. The second approach involves imposing proportionate restrictions to facilitate social distancing, banning certain sorts of gatherings while encouraging and informing the public. The Swedes pursued a version of this centrist strategy: there was a fair bit of compulsion, but also a focus on retaining normal life and keeping schools open. There was no formal lockdown. The third option is the full-on statist approach, which imposes a legally binding lockdown and shuts down society. Almost all economists thought that Sweden’s economy would suffer hugely from its idiosyncratic strategy. They were wrong. Sweden’s GDP fell by just 8.6 per cent in the first half of the year ... and its excess deaths jumped 24 per cent. By contrast, Britain’s economy slumped by 22.2 per cent in the first half of the year, a performance almost three times as bad as Sweden’s, and its excess deaths shot up by 45 per cent.

Note: A Swedish MD on the front lines shares thoughts on why Sweden's COVID death rate has been in the single digits for weeks. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

The COVID-19 pandemic is having a significant impact on Americans' mental health, according to a new survey out Thursday from the U.S. Centers for Disease Control and Prevention. It found elevated levels of symptoms of anxiety and depressive disorders, substance use and suicidal ideation among U.S. adults, and identified populations at increased risk, including young people, racial and ethnic minorities, essential workers and caregivers of adults. More than 40% of respondents who completed surveys during June reported an adverse mental or behavioral health condition, and 11% reported having seriously considered suicide in the 30 days prior. The data's greatest value, experts say, is the spotlight it shines on vulnerable populations. "It is showing that this breakdown in our society, the breakdown of the safety net, the breakdown of economic security is taking a massive toll," said Anna Mueller, a suicide researcher and professor of sociology at the Indiana University Bloomington. "These breakdowns really show how crucial economic stability and economic security are to an individual's well being. Because the people who are more vulnerable in terms of their socioeconomic status, people who are being put in harm's way, those are the people who are suffering the most." The survey found 75% of respondents 18-24 reported at least one adverse mental or behavioral health symptom and serious suicidal ideation among this group was 25%.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and health from reliable major media sources.

Small businesses are disappearing by the thousands amid the Covid-19 pandemic, and the drag on the economy from these failures could be huge. This wave of silent failures goes uncounted in part because real-time data on small business is notoriously scarce, and because owners of small firms often have no debt, and thus no need for bankruptcy court. Yelp Inc., the online reviewer, has data showing more than 80,000 permanently shuttered from March 1 to July 25. About 60,000 were local businesses, or firms with fewer than five locations. About 800 small businesses did indeed file for Chapter 11 bankruptcy from mid-February to July 31, according to the American Bankruptcy Institute, and the trade group expects the 2020 total could be up 36% from last year. While the businesses are small individually, the collective impact of their failures could be substantial. Firms with fewer than 500 employees account for about 44% of U.S. economic activity, according to a U.S. Small Business Administration report, and they employ almost half of all American workers. About 58% of small business owners say they’re worried about permanently closing, according to a July U.S. Chamber of Commerce survey. In a June 2020 NFIB survey, a net 31% of owners reported lower sales in the past three months, while 7% reported higher sales a year earlier. In the same survey, only 13% of business owners said it was a good time to expand, a dip from 24% a year earlier.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

We’re headed into a global depression–a period of economic misery that few living people have experienced. Depressions don’t just generate ugly stats and send buyers and sellers into hibernation. They change the way we live. COVID-19 fears will bring lasting changes to public attitudes toward all activities that involve crowds of people and how we work on a daily basis; it will also permanently change America’s competitive position in the world and raise profound uncertainty about U.S.-China relations going forward. Most postwar U.S. recessions have limited their worst effects to the domestic economy. But most were the result of domestic inflation or a tightening of national credit markets. That is not the case with COVID-19 and the current global slowdown. This is a synchronized crisis, and just as the relentless rise of China over the past four decades has lifted many boats in richer and poorer countries alike, so slowdowns in China, the U.S. and Europe will have global impact on our globalized world. The Congressional Budget Office has warned that the unemployment rate will remain stubbornly high for the next decade, and economic output will remain depressed for years unless changes are made to the way government taxes and spends. Those sorts of changes will depend on broad recognition that emergency measures won’t be nearly enough to restore the U.S. economy to health. What’s true in the U.S. will be true everywhere else.

Note: A CNN article dated Aug. 15th is titled "1 in 4 young people are reporting suicidal thoughts." A USA Today article states, "More than 40% of respondents who completed surveys during June reported an adverse mental or behavioral health condition, and 11% reported having seriously considered suicide in the 30 days prior." It's possible that deaths from suicide, domestic violence, hunger, and more will significantly exceed the number of virus deaths. For more, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

For 23 years, Larry Collins worked in a [toll] booth. But one day in mid-March, as confirmed cases of the coronavirus were skyrocketing, Collins’ supervisor called and told him not to come into work the next day. Collins’ job was disappearing, as were the jobs of around 185 other toll collectors at bridges in Northern California, all to be replaced by technology. The drive to replace humans with machinery is accelerating as companies struggle to avoid workplace infections of COVID-19 and to keep operating costs low. The U.S. shed around 40 million jobs at the peak of the pandemic. Some will never return. One group of economists estimates that 42% of the jobs lost are gone forever. This replacement of humans with machines may pick up more speed in coming months as companies move from survival mode to figuring out how to operate while the pandemic drags on. Robots could replace as many as 2 million more workers in manufacturing alone by 2025. “Look at the business model of Google, Facebook, Netflix. They’re not in the business of creating new tasks for humans,” says Daron Acemoglu, an MIT economist. The U.S. government incentivizes companies to automate, he says, by giving tax breaks for buying machinery and software. A business that pays a worker $100 pays $30 in taxes, but a business that spends $100 on equipment pays about $3 in taxes, he notes. The 2017 Tax Cuts and Jobs Act lowered taxes on purchases so much that “you can actually make money buying equipment,” Acemoglu says.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the coronavirus from reliable major media sources.

Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.