244,470 people dead, 6,554,460 people recovered, like our President, leaving 3,623,096 actively infected people among us – 1 out of 100 citizens who, at this very moment, could be transmitting the virus to someone else. HOPEFULLY most of them are following protocols and wearing masks and maintining social distancing.
Housing Secretary Ben Carson and White House Chief of Staff Mark Meadows were not following protocols at last week’s election night party, attended by 100 people at the White House, and they have both come down with the virus and, keep in mind, all 100 people were tested before entering the White House – so it could have been a lot worse. Literally the only person wearing a mask is Health and Human Services Secretary Alex Azar.
A person with the virus can be infections 48 hours before they test positive and the the CDC defines “close contact” as spending at least 15 minutes within 6 feet of an infected person beginning two days before they test positive or exhibit symptoms. CDC’s Popescu called the party, in particular, “a ripe environment for transmission to occur,” and said anyone in attendance should have been informed and asked to take precautions.
As with Trump’s last party, which infected dozens – it will take a week for us to see who catches the virus from this completely irresponsible event. Of course, that’s not the only irresponsible event going on, of course. 127,151 Americans were infected yesterday, 1/4 of the World’s 504,752 new cases, despite having just 4% of the World’s population. We are, indeed a nation of over-achievers. Even our 10M total is 20% of the World’s 50,459,886 infections, we are getting infected at 5x the rate of the rest of the planet.
I know it seems very ordinary that 244,470 (the chart is from yesterday and today isn’t over) people have died from the virus. “Only” about 1,000 people a day are dying at the moment and 3,000 people died on 9/11 so what’s 1,000 people per day dying of a virus, right?
Try to keep in mind, however, that “only” 116,516 Americans died in two years of World War I and “only” 405,399 Americans died in WWII – and that took 6 years – this has been 8 months!
And it’s getting worse.
President Biden wants us to wear masks but Trump was making fun of Biden for often wearing a mask in the first Presidential Debate and Trump supporters intend to “resist” President Biden by no following his rules on the subject and possible not getting vaccinated – even when the vaccine becomes available. This kind of idiocy is dangerous for the whole country – you can’t eradiate a disease if only half the population takes precautions but what are we going to do? Force them?
While I understand why the markets are thrilled to be rid of Trump and even more thrilled that there’s a vaccine in site, there’s still a very long, hard road ahead between where we are now and normalcy.
The coronavirus pandemic remains a top risk to the U.S. financial system, the Federal Reserve said in a report released Monday, warning that uncertainty over the course of the virus and its economic and financial consequences remains unusually high. “Investor risk appetite and asset prices have increased in recent months but could suffer significant declines should the pandemic take an unexpected course or the economic recovery prove less sustainable,” the report said.
The Fed also warned historically high levels of business debt and weakening household finances could pose a significant vulnerability in the medium term. So far, strains in those sectors have been eased by significant government lending and relief programs, as well as low interest rates. “That said, some households and businesses have been substantially more affected to date than others, suggesting that the sources of vulnerability in these sectors are unevenly distributed,” the report said.
Here’s Powell’s speech from last week:
So let’s not get too ahead of ourselves with the bullishness.
