News StoriesExcerpts of Key News Stories in Major Media
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.
The new NextSeq 550 sequencing machine at UCSF’s clinical lab on Berry Street looks like a microwave with a computer keyboard, but to microbiologist Charles Chiu, it is the key to California’s fight against the deadliest, most invasive virus to strike humanity in decades. The professor of medicine at UCSF will be using the black contraption ... to sequence the genomes of the viruses infecting hundreds of COVID-19 patients in the Bay Area during the next few weeks. Chiu ... is one of the top infectious disease specialists in the world. He has assembled an expert team of scientists ... to find critical clues about where the viral outbreaks in the Bay Area came from and how quickly the disease is spreading. He has already analyzed nine samples from the more than two dozen passengers who tested positive for the coronavirus on the Grand Princess cruise ship and is close to pinpointing the origin of those cases. “Those sequences belong in the same cluster as the infection in Washington state,” Chiu said. “They really suggest a link between Washington state and California.” Chiu said tracking the spread of the virus through genetics is possible because coronaviruses are known to have one to two mutations per month, allowing genomic sequencing to track a particular strain back to its origin. The rate of mutation in coronaviruses is much slower than it is with the influenza virus, which averages about eight to 10 mutations per month.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
Today, the UN issued its annual World Happiness Report, which ranks 156 countries around the world. For the third year in a row, Finland was named the happiest country in the world. So what makes the Finns so happy—and what can we learn from them during this time of global turmoil caused by an outbreak of coronavirus? The first thing to know is that 70% of Finland is covered by forest and the air is clean and serene. “Nature is our secret,” says [Heli] Jimenez. “We Finns like to put on a pair of rubber boots, head to the woods to slow down and calm our mind.” But even if you can’t get out of the house, you can replicate the experience at home and listen to the relaxing sounds of Finnish Lapland. Finns love swimming in the winter in a lake or the sea. The easiest way to do this at home is with a quick, ice-cold shower. Another hallmark of Finland is its rich art scene, which ranges from experimental artist-run initiatives to commercial galleries to flagship art institutions. The country is home to more than 55 art museums, and much of the art in the country is inspired by the Finns’ close relationship with nature. The Finns also use art to “calm the mind and transport their thoughts to stress-free, comforting places.” says Jimenez. Her advice: “Why not take a virtual trip from your own sofa to the Finnish museums to understand how art is a tool for happiness.” Take a virtual tour of the Ateneum, and you’ll be feeling the calm Finnish vibes in no time flat.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
People around the world are learning to cope with quarantines in an attempt to stop the further spread of the new coronavirus. As city lockdowns force people to self-quarantine, everyone is searching for ways to keep busy — and Yale University has a solution. "Psychology and the Good Life," a course first introduced by Professor Laurie Santos in spring 2018, teaches stressed-out students how to be happier. The university said it quickly became the most popular course in the school's 317-year history. Given its success, Yale decided to release the course online with the title, "The Science of Well Being." It features lectures by Santos "on things people think will make them happy but don't — and, more importantly, things that do bring lasting life satisfaction." Anyone with an internet connection can sign up for the class for free. The course involves a series of challenges "designed to increase your own happiness and build more productive habits." The course is fully online and takes about 20 hours to complete. It includes videos, readings, quizzes and "retirement" activities to build happier habits. "The Science of Well Being" isn't the only course that could keep you busy during the coronavirus outbreak. Coursera offers other free courses from the nation's top schools, including "Greek and Roman Mythology" from the University of Pennsylvania, "Imagining other Earths" from Princeton, and "Child Nutrition and Cooking" from Stanford.
Note: Don't miss the incredibly popular course (4.9 stars out of 5) offered free on this webpage. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Amid a novel coronavirus pandemic, some of us have defied public health officials’ exhortations and headed to bars to be with other members of our species. More of us have stared into the weeks to come and wondered how we will cope without basketball games, book groups, worship services, yoga classes and dinners with friends. Humans are social animals, even what some call “ultra-social.” For millennia, survival has depended on being part of a group. If distancing seems hard, it’s not just you: It’s human nature. “We are the most extreme example of a species that’s decided that collaborating with others is going to be my entire strategy,” said Steve Cole, a professor ... at the University of California. These social skills helped our ancestors fend off predators and more efficiently gather and hunt food and raise offspring. Our emotional dependence on each other can make keeping our distance, even for the public health benefit of “flattening the curve,” feel crummy. Most who are reducing physical contact, of course, are not locking themselves into isolation chambers. They’ve got a few relatives or friends around. Technology and social media ... should now be viewed as a lifeline. “People are going to feel isolated and lonely unless they make an effort to reach out to each other, so what we have to do is make sure that we call people on the phone and Skype with them and send them texts and emails, especially the people who are least proficient on the Internet,” [psychological anthropologist Alan] Fiske said.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The latest threat to global health is the ongoing outbreak of the respiratory disease that was recently given the name Coronavirus Disease 2019 (Covid-19). The Covid-19 outbreak has posed critical challenges for the public health, research, and medical communities. In their Journal article, Li and colleagues provide a detailed clinical and epidemiologic description of the first 425 cases reported in the epicenter of the outbreak: the city of Wuhan in Hubei province, China. A degree of clarity is emerging from this report. The median age of the patients was 59 years, with higher morbidity and mortality among the elderly and among those with coexisting conditions (similar to the situation with influenza). Of note, there were no cases in children younger than 15 years of age. Li et al. report a mean interval of 9.1 to 12.5 days between the onset of illness and hospitalization. On the basis of a case definition requiring a diagnosis of pneumonia, the currently reported case fatality rate is approximately 2%. In another article in the Journal, Guan et al. report mortality of 1.4% among 1099 patients with laboratory-confirmed Covid-19; these patients had a wide spectrum of disease severity. If one assumes that the number of asymptomatic or minimally symptomatic cases is several times as high as the number of reported cases, the case fatality rate may be considerably less than 1%. This suggests that the overall clinical consequences of Covid-19 may ultimately be more akin to those of a severe seasonal influenza (which has a case fatality rate of approximately 0.1%) or a pandemic influenza (similar to those in 1957 and 1968) rather than a disease similar to SARS or MERS, which have had case fatality rates of 9 to 10% and 36%, respectively.
Note: The main author of this article, Anthony S. Fauci, is the director of the U.S. National Institute of Allergy and Infectious Diseases. Consider the research of 12 other experts questioning the coronavirus panic. Explore also this excellent article which covers key, vitally important aspects of this pandemic that few have considered. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus pandemic from reliable major media sources.
The current coronavirus disease [may] be a once-in-a-century evidence fiasco. At a time when everyone needs better information ... no countries have reliable data. This evidence fiasco creates tremendous uncertainty. Draconian countermeasures have been adopted in many countries. The data collected so far on how many people are infected and how the epidemic is evolving are utterly unreliable. Given the limited testing to date ... we don’t know if we are failing to capture infections by a factor of three or 300. Reported case fatality rates, like the official 3.4% rate from the [WHO], cause horror — and are meaningless. Patients who have been tested ... are disproportionately those with severe symptoms and bad outcomes. The Diamond Princess cruise ship [had a] case fatality rate [of] 1.0%, but this was a largely elderly population. Projecting the Diamond Princess mortality rate onto the age structure of the U.S. population, the death rate among people infected with Covid-19 would be 0.125%. But since this estimate is based on extremely thin data ... the real death rate could stretch from five times lower (0.025%) to five times higher (0.625%). A population-wide case fatality rate of 0.05% is lower than seasonal influenza. If that is the true rate, locking down the world with potentially tremendous social and financial consequences may be totally irrational. In the absence of data, prepare-for-the-worst reasoning leads to extreme measures of social distancing and lockdowns. Unfortunately, we do not know if these measures work. With lockdowns of months, if not years, life largely stops, short-term and long-term consequences are entirely unknown, and billions, not just millions, of lives may be eventually at stake.
Note: John Ioannidis is professor of medicine, epidemiology and population health at Stanford University. To be truly informed, don't miss this entire, very well researched article at the link above. Consider also the research of 12 other experts questioning the coronavirus panic. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
Fear of Covid-19 is based on its high estimated case fatality rate—2% to 4% ... according to the World Health Organization and others. We believe that estimate is deeply flawed. There’s little evidence to confirm that premise—and projections of the death toll could plausibly be orders of magnitude too high. The true fatality rate is the portion of those infected who die, not the deaths from identified positive cases. The latter rate is misleading because of selection bias in testing. The degree of bias ... could make the difference between an epidemic that kills 20,000 and one that kills two million [in the U.S.]. First, the test used to identify cases doesn’t catch people who were infected and recovered. Second, testing rates were woefully low for a long time and typically reserved for the severely ill. Together, these facts imply that the confirmed cases are likely orders of magnitude less than the true number of infections. Epidemiological modelers haven’t adequately adapted their estimates to account for these factors. This does not make Covid-19 a nonissue. The daily reports from Italy and across the U.S. show real struggles and overwhelmed health systems. But a 20,000- or 40,000-death epidemic is a far less severe problem than one that kills two million. Given the enormous consequences of decisions around Covid-19 response, getting clear data to guide decisions now is critical. We don’t know the true infection rate in the U.S. If we’re right about the limited scale of the epidemic, then measures focused on older populations and hospitals are sensible. A universal quarantine may not be worth the costs it imposes on the economy, community and individual mental and physical health.
Note: Authors Dr. Bendavid and Dr. Bhattacharya are professors of medicine at Stanford. The Wall Street Journal charges non-subscribers to read more than the first two paragraphs of this article. You may find it well worth your time to read the entire article free on this webpage. Explore also this excellent article the covers key, vitally important aspects of this pandemic that few have considered. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus pandemic from reliable major media sources.
Even as President Trump says he tested negative for coronavirus, the COVID-19 pandemic raises the fear that huge swaths of the executive branch or even Congress and the Supreme Court could also be disabled, forcing the implementation of "continuity of government" plans. Above-Top Secret contingency plans already exist for what the military is supposed to do if all the Constitutional successors are incapacitated. Standby orders were issued more than three weeks ago to ready these plans, not just to protect Washington but also to prepare for the possibility of some form of martial law. The various plans – codenamed Octagon, Freejack and Zodiac – are the underground laws to ensure government continuity. Under these extraordinary plans, "devolution" could circumvent the normal Constitutional provisions for government succession, and military commanders could be placed in control around America. Since Hurricane Katrina in 2006, no emergency has triggered any state to even request federal military aid under these procedures. Part of the reason, the senior officer involved in planning says, is that local police forces have themselves become more capable, acquiring military-grade equipment and training. And part of the reason is that the governors have worked together to strengthen the National Guard, which can enforce domestic law when it is mustered under state control.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
Pharmaceutical companies are under the spotlight with congressional hearings on the cost of drug prices and allegations of the industry’s role in the opioid crisis. Dr. Raeford Brown, a pediatric anesthesia specialist ... and chair of the Food and Drug Administration (FDA) Committee on Analgesics and Anesthetics, has been openly critical of big pharma and the lack of proper oversight from the FDA. Despite many politicians, particularly declared presidential candidates, beginning to speak out against big pharma, Brown does not think that anything will come out of it “because Congress is owned by pharma.” “The pharmaceutical industry pours millions of dollars into the legislative branch every single year,” he [said]. “In 2016, they put $100 million into the elections. That’s a ton of money.” OpenSecrets, a website operated by the nonpartisan Center for Responsive Politics, tracks money in U.S. politics. It ranked the top 20 members of the House and the Senate that have received the most campaign contributions from the pharmaceutical and health products industry. Kevin McCarthy, now the House minority leader after midterms, received ... a total of $380,350 in campaign contributions, with a large sum coming from pharma companies. “Congress is supposed to have oversight for the FDA,” Brown said. “If the FDA isn’t going to hold pharma accountable, and Congress is getting paid to not hold pharma accountable, then it really doesn’t matter who the president is because it’s really about Congress.”
Note: Learn more on how big Pharma controls politicians in this very well researched video. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
It's been overshadowed by the new coronavirus outbreak in China, but this year's flu season could be near its peak. At least 14,000 people have died and 250,000 have already been hospitalized during the 2019-2020 flu season, according to estimates from the U.S. Centers for Disease Control and Prevention. More than 26 million Americans have fallen ill with flu-like symptoms. "There is a deadly respiratory virus that is circulating throughout the United States, and it is at its peak. It is not novel coronavirus," said Dr. Pritish Tosh, an infectious disease specialist with the Mayo Clinic. This flu season ... started early, in October, with an unusual wave of influenza B virus. Influenza B is less likely than other strains to mutate and become more virulent. That means it poses a greater threat to young people than to older folks, who may have gained immunity because they encountered the strain before. There have been 105 flu-related deaths among children this season, a higher total at this point of the year than any season in the past decade. Two-thirds of these deaths were associated with influenza B viruses, the CDC noted. More recently, a second wave of influenza A viruses featuring the H1N1 strain has hit the United States, Tosh noted. "This has been an extended season, and we've certainly been seeing a lot of hospitalizations and bad outcomes from it," Tosh said. "We will likely continue to see high influenza activity for several weeks. We are probably at its peak right now. I sure hope it doesn't get much worse."
Note: The Centers for Disease Control and Prevention now estimates that between 390,000 and 710,000 hospitalizations and between 23,000 and 59,000 deaths have resulted from seasonal flu so far this season. That's between 150 and 300 deaths every day in the U.S. from the regular flu. For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.
Erik Prince, the security contractor with close ties to the Trump administration, has in recent years helped recruit former American and British spies for secretive intelligence-gathering operations that included infiltrating Democratic congressional campaigns, labor organizations and other groups considered hostile to the Trump agenda. One of the former spies, an ex-MI6 officer named Richard Seddon, helped run a 2017 operation to copy files and record conversations in a Michigan office of ... one of the largest teachers unions in the nation. The next year, the same undercover operative infiltrated the congressional campaign of Abigail Spanberger, then a former C.I.A. officer who went on to win an important House seat in Virginia as a Democrat. Both operations were run by Project Veritas, a conservative group that has gained attention using hidden cameras and microphones for sting operations. Mr. Prince, the former head of Blackwater Worldwide ... appears to have become interested in using former spies to train Project Veritas operatives in espionage tactics sometime during the 2016 presidential campaign. In 2017, he met with White House and Pentagon officials to pitch a plan to privatize the Afghan war. Mr. Prince invited Project Veritas operatives ... to his familys Wyoming ranch for training in 2017. [They] shared social media photos of taking target practice with guns at the ranch, including one post ... saying that with the training, Project Veritas will be the next great intelligence agency.
Note: Mr. Prince's Blackwater operation got caught systematically defrauding the government. Then Blackwater changed its name to Academi and made over $300 million off the Afghan drug trade. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
Several websites popular with sexual predators were thwarted last month after a determined campaign by groups dedicated to eliminating the content. It was a rare victory in an unending war. In late November, the moderator of three highly trafficked websites posted a message titled “R.I.P.” It offered a convoluted explanation for why they were left with no choice but to close. The unnamed moderator thanked over 100,000 “brothers” who had visited and contributed to the sites before their demise, blaming an “increasingly intolerant world” that did not allow children to “fully express themselves.” In fact, forums on the sites had been bastions of illegal content almost since their inception in 2012, containing child sexual abuse photos and videos, including violent and explicit imagery of infants and toddlers. In a world exploding with the imagery — 45 million photos and videos of child sexual abuse were reported last year alone — the open web is a freewheeling expanse where the underdog task of confronting the predators falls mainly to a few dozen nonprofits with small budgets. Several of those groups, including a child exploitation hotline in Canada, hunted the three sites across the internet for years but could never quite defeat them. But [a] Canadian hotline developed ... a sophisticated tool to find and report illegal imagery. The three sites were overwhelmed by the Canadian tool, which had sent more than 1 million notices of illegal content to the companies keeping them online. And last month, they were compelled to surrender.
Note: Listen to a disturbing, yet vitally important New York Times podcast showing this huge problem that few are willing to look at. For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals from reliable major media sources.
Federal investigators on Thursday found a loaded gun that had been smuggled into the Manhattan jail where the financier Jeffrey Epstein hanged himself last summer while awaiting trial on sex-trafficking charges, officials said. The discovery of the gun at the jail, the Metropolitan Correctional Center, came amid a weeklong lockdown that began with a tip that a firearm might have been “introduced” into the building, according to a statement from the federal Bureau of Prisons. The gun was found in one of the jail’s housing units, the bureau said. The Metropolitan Correctional Center and other federal prisons across the United States have been dealing with rising levels of violence and other safety problems, including an influx of contraband. The problems have coincided with a push by the Trump administration, in its quest to shrink the federal government, to curtail prison hiring, according to a 2018 investigation by The New York Times. In at least one prison, The Times found, people regularly walked up to the double security fence in broad daylight, and, with no guards in sight, tossed weapons, drugs, cellphones and other items to inmates. But a gun is a rare and unique threat. The lockdown and ensuing search were part of the continuing fallout stemming from the suicide of Mr. Epstein in August. Lawyers for Mr. Epstein have challenged the New York City medical examiner’s finding that his death was a suicide.
Note: For more along these lines, see concise summaries of deeply revealing news articles on prison system corruption and Jeffrey Epstein from reliable major media sources.
President Donald Trump on Tuesday called for two liberal Supreme Court justices to recuse themselves from cases involving him following a scathing dissent issued by one of them, blasting the justices as the court considers a number of cases critical to his presidency. "I just don't know how they can't recuse themselves for anything having to do with Trump or Trump-related," Trump said of Justices Sonia Sotomayor and Ruth Bader Ginsburg during a trip to India. "Her statement was so inappropriate when you're a justice of the Supreme Court," he said of Sotomayor, who was appointed to the court by President Barack Obama. Sotomayor castigated the government for repeatedly asking justices on an emergency basis to allow controversial policies to go into effect and charged her conservative colleagues on the court with being too eager to side with the Trump administration on such requests. While Sotomayor's dissent targeted the federal government -- not The Trump administration per se -- she was speaking about the recent uptick in emergency petitions concerning many of the President's policies. And her criticism of her conservative colleagues was pointed. Sotomayor wrote that granting emergency applications often upends "the normal appellate process" while "putting a thumb on the scale in favor of the party that won." Targeting her conservative colleagues, she said "most troublingly, the court's recent behavior" has benefited "one litigant over all others."
Note: For more along these lines, see concise summaries of deeply revealing news articles on judicial system corruption from reliable major media sources.
I wonder how many of the readers remember the WHO’s pandemic alert on swine ‘flu some years ago? When the WHO was proactive to announce a pandemic then without any scientific justifications I was the one who wrote that that was a business stunt! People did not believe and the British Medical Journal rejected my paper. After one long year what I had predicted came true. Council of Europe Health Committee Chairman Dr. Wolfgang Wodarg said that the declaration of a swine flu pandemic was a false alarm. “There are many signs that there is close cooperation between the WHO and pharmaceutical companies. We have to find out whether there was pressure or whether there was money given as an incentive to the WHO to have this pandemic declared,” Dr. Wolfgang Wodarg adds. To give a simple example of the swine flu drug Tamiflu when given to a million people, 45,000 will experience vomiting, 31,000 will experience headache and 11,000 will have psychiatric side-effects. These figures might be insignificant if Tamiflu cures swine flu. That is not the case. Raising the fear levels in society is the surest way of depressing their immune system! This is good for business. With people’s immune system depressed they are prone to all kinds of infections. What follows next is the usual history. Greedy drug companies will now vie with each other to produce a vaccine. Vaccination is big business. This pattern goes on and on as long as money and medicine are related.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Scientists in Australia are making some astonishing claims about a new nuclear reactor technology. Startup HB11, which spun out of the University of New South Wales, has applied for and received patents in the U.S., Japan, and China so far. The company's technology uses lasers to trigger a nuclear fusion reaction in hydrogen and boron—purportedly with no radioactive fuel required. The laser doesn’t heat the materials. Instead, it speeds up the hydrogen to the point where it (hopefully) collides with the boron to begin a reaction. “You could say we're using the hydrogen as a dart, and hoping to hit a boron, and if we hit one, we can start a fusion reaction,” managing director Warren McKenzie [said]. He says HB11's approach is “more precise” than designs that use heat to approach fusion because in those reactors, everything is heated in the hope that something will collide. When the lucky hydrogen does fuse with a boron particle, the reaction throws off helium atoms whose lack of electrons means they’re positively charged. It’s this charge that the device gathers as electricity. The overall idea was developed by UNSW emeritus professor Heinrich Hora. Hora’s design seeks to not just compete with, but replace entirely the extremely high-temperature current technologies to achieve fusion. These include fussy and volatile designs like the tokamak or stellarator, which can take months to get up to functionality and still spin out of working order in a matter of microseconds.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
A man from London has become the second person in the world to be cured of HIV, doctors say. Adam Castillejo is still free of the virus more than 30 months after stopping anti-retroviral therapy. He was not cured by the HIV drugs, however, but by a stem-cell treatment he received for a cancer he also had, the Lancet HIV journal reports. The donors of those stem cells have an uncommon gene that gives them, and now Mr Castillejo, protection against HIV. In 2011, Timothy Brown, the "Berlin Patient" became the first person reported as cured of HIV, three and half years after having similar treatment. Stem-cell transplants appear to stop the virus being able to replicate inside the body by replacing the patient's own immune cells with donor ones that resist HIV infection. Adam Castillejo - the now 40-year-old "London Patient" who has decided to go public with his identity - has no detectable active HIV infection in his blood, semen or tissues, his doctors say. It is now a year after they first announced he was clear of the virus and he still remains free of HIV. Lead researcher Prof Ravindra Kumar Gupta, from the University of Cambridge, told BBC News: "This represents HIV cure with almost certainty. "We have now had two and a half years with anti-retroviral-free remission. "Our findings show that the success of stem-cell transplantation as a cure for HIV, first reported nine years ago in the Berlin Patient, can be replicated."
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Humans and rodents have similar brain structures that regulate empathy, suggesting the behavior is deeply rooted in mammal evolution. Previous research has shown the much-maligned rodents assist comrades in need, as well as remember individual rats that have helped them—and return the favor. Now, a new study builds on this evidence of empathy, revealing that domestic rats will avoid harming other rats. In the study, published ... in the journal Current Biology, rats were trained to pull levers to get a tasty sugar pellet. If the lever delivered a mild shock to a neighbor, several of the rats stopped pulling that lever and switched to another. Harm aversion, as it's known, is a well-known human trait regulated by a part of the brain called the anterior cingulate cortex (ACC). Further experiments showed the ACC controls this behavior in rats, too. This is the first time scientists have found the ACC is necessary for harm aversion in a non-human species. The finding could have a real impact on people suffering from psychiatric disorders such as psychopathy and sociopathy, whose anterior cingulate cortexes are impaired. “We currently have no effective drugs to reduce violence in antisocial populations,” [study co-author Christian] Keysers says, and figuring out how to increase such patients’ aversion to hurting others could be a powerful tool. Whatever the motivation ... it’s fascinating that the impulse to avoid hurting others is at least 93 million years old, which is when humans and rats diverged on the evolutionary tree.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The Federal Reserve moved with unprecedented force and speed Friday to pump huge amounts of cash into the financial system to ease disruptions that have escalated since the viral outbreak. The New York Federal Reserve Bank said it will offer $1 trillion of overnight loans a day through the end of this month to large banks. That is in addition to $1 trillion in 14-day loans it is offering every week. Wall Street analysts say the huge number is intended to calm markets by demonstrating that the Fed’s ability to lend short-term is nearly unlimited. The Fed is also buying Treasury bonds at a furious pace, and will soon run through the $500 billion in purchases it announced on Sunday. It is also accelerating its purchases of mortgage-backed securities. Most analysts expect they will buy more. All the Fed’s emergency steps are intended to pump cash into a financial system that has seen a spike in demand for dollars. Steven Friedman, a former economist at the New York Fed, [said] “The Fed is trying to play the role of shock absorber.” “They’ve effectively thrown the kitchen sink at the markets and the economy,” said Gennadiy Goldberg, senior U.S. rates strategist for TD Securities. Also Friday, the Fed said it would expand its currency exchanges with five central banks. The Fed provides dollars to overseas central banks because some business is conducted overseas in dollars and foreign banks also provide dollar-denominated loans to their customers.
Note: Take $1 trillion and divide it by the U.S. population of 330 million and you find that this amount is equivalent to $3,000 for every man, woman, and child in the US. And that is what the Fed is lending every day. Where is all this money coming from, and why is it going to the banks? For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources. Then explore the excellent, reliable resources provided in our Banking Information Center.
Among the 2,158 people to have been killed by the coronavirus pandemic in Italy as of Monday, the oldest was 95 and the two youngest were 39. Silvio Brusaferro, the president of Italy’s Higher Institute of Health, said on Friday that the average age of coronavirus victims was 80.3, with the majority having suffered underlying illnesses. The most common additional health issue was arterial hypertension followed by chronic heart disease, atrial fibrillation and cancer. More than 70% of those who have died were men. The two 39-year-old victims were a man with diabetes and a woman with cancer.
Note: Yet very strangely in Italy's neighbor France, "half the severe cases were people aged under 60," according to this report. For two other excellent articles which put the Coronavirus in perspective, see this compilation of data and this excellent essay on how the virus is being used to promote the surveillance state. Lots more from reliable sources on selling fear during virus scares is available here. And for how fear is used to control us and what we can do about it, don't miss this excellent essay.
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.