NEC Director Larry Kudlow On Coronavirus, China And U.S. Economy

Larry Kudlow — National Economic Council Director — appears on CNBC’s Squawk on the Street for a lengthy interview on economic issues originating from the current situation in China.

Is there a reason to worry?

Watch the interview to find out.

China’s economy is at a standstill, and the concerns of the coronavirus expanding outside of mainland China are growing. Larry Kudlow shares his opinion on what that means to us.

Published by CNBC
on Feb 21, 2020

Larry Kudlow, on the impact of COVID-19 outbreak on the U.S. economy today.

As you well know, the virus story is not an American story. I mean, we’ve been very, very, very well contained.

and

I’ve talked to dr. Fauci about this…, and we’re, you know fingers crossed God willing, we’re in pretty good shape here at home.


COVID-19 CORONAVIRUS PANDEMIC TRACKER

I decided to drop the Johns Hopkins corona tracker and switch to Worldometer’s COVID-19 CORONAVIRUS PANDEMIC tracker. It’s not as good looking as the one from Johns Hopkins but provides more information.

  • Currently Infected Patients (Active Cases)
  • Patients in Mild Condition
  • Patients in Serious or Critical Condition
  • Closed Cases (Recovered / Discharged and Deaths)

Data on testing at The COVID Tracking Project. (US totals and state by state numbers.)

It’s also a good idea to read this article: Evidence over hysteria — COVID-19. (It looks like this post was taken down by Medium. Will see if it come back.) The material is still on at this location.

If you rather use tracker from Johns Hopkins, use this link. Remember, however, that in order to get the number of people presently infected (active cases) you must subtract “Total Deaths” and “Total Recovered” from “Total Confirmed”.


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CORONAVIRUS — Spike In New Confirmed Cases After Change In Diagnostic Criteria

Health authorities in China’s Hubei province reported on Thursday 14,840 new confirmed cases of COVID-19 (Coronavirus 2019-nCoV), almost ten times the number said a day earlier.

Increases come after a change in diagnostic criteria. Hubei’s health commission said in its daily statement that it had changed the diagnostic tests used to confirm cases, effective Thursday, meaning that doctors have broader discretion to determine which patients are infected.

From today on, we will include the number of clinically diagnosed cases into the number of confirmed cases so that patients could receive timely treatment.

The spike in confirmed cases looks scary, but…,

Fourteen thousand eight hundred forty new confirmed cases of COVID-19 don’t mean that nearly 15 Thousand people have got infected over the last 24 hours. A massive increase in the number of confirmed cases was caused by the change in “accounting practices.”

So, the rate of spread of the virus has not changed drastically overnight. The Chinese government has finally found a way to publish the correct amount of known infections and keep the face at the same time.


COVID-19 CORONAVIRUS PANDEMIC TRACKER

I decided to drop the Johns Hopkins corona tracker and switch to Worldometer’s COVID-19 CORONAVIRUS PANDEMIC tracker. It’s not as good looking as the one from Johns Hopkins but provides more information.

  • Currently Infected Patients (Active Cases)
  • Patients in Mild Condition
  • Patients in Serious or Critical Condition
  • Closed Cases (Recovered / Discharged and Deaths)

Data on testing at The COVID Tracking Project. (US totals and state by state numbers.)

It’s also a good idea to read this article: Evidence over hysteria — COVID-19. (It looks like this post was taken down by Medium. Will see if it come back.) The material is still on at this location.

If you rather use tracker from Johns Hopkins, use this link. Remember, however, that in order to get the number of people presently infected (active cases) you must subtract “Total Deaths” and “Total Recovered” from “Total Confirmed”.


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Coronavirus

CORONAVIRUS: More Likely To Damage Your Wealth Than Your Health

Panic could be expensive.
Interesting take on coronavirus outbreak.
By John Ward of The Slog.

“China has no choice but to shut down its output and face massive falls in demand. The one thing CoroNov19 is going to cut a swathe through is lots of obscenely overvalued stock markets around the world.”

I hope Mr. Ward’s prognostication regarding stock markets won’t materialize. I like the look of the dollar balance of my SEP-IRA account.


The provenance of media reports on this virus is just as complex as its provenance of mutation

There has been a leap in the number of Coronavirus infections over the last week (it would be odd if there hadn’t) but the death rate stays firmly at 2.1%. It is still clear that it transmits from human to human more efficiently than most previous viruses, and is late in producing symptomology. The World Health Organisation (WHO) has declared it an epidemic (about time). The UK is now quarantining every flight from China, and the total number of British cases is seven.

There really is nothing to see here – yet. But on the basis of this, the Times has a front-page splash promising that w’re going to get ‘a major epidemic’, and that everyone is being too relaxed about it and we can’t have that.

So it is that “world expert” Professor Peter Piot, director of the London School of Hygiene & Tropical Medicine, has been wheeled out to declare himself “increasingly alarmed” by the “rapid spread” of the virus and the “huge” number of cases emerging daily.

Why? The Whys I mean are, why is he surprised, and why has the Times given him centre stage?

Centre stage is sort of understandable given his ground-breaking work on AIDS and Ebola. But there are other considerations.

Monsieur Piot describes himself as a chap who ‘grew up in Belgium dreaming of exotic adventures and helping the poor’. He is a senior UN bigwig, Left of Centre, and an opponent of Brexit. (It is, of course, only a matter of time before the spread of CorNov19 is down to Brexit chaos, and a lackadaisical attitude by Boris Johnson).

Keep Reading


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Coronavirus

CORONAVIRUS Outbreak In Wuhan, China

Notwithstanding the rising number of coronavirus cases and the dozens of deaths, public health experts say there is no ground for panic. The common flu kills approximately 35,000 people a year and hospitalizes about 200,000 in the United States alone.

Hopefully, the experts are right, and there’s no reason to grab family and friends and move to Mohave Desert. At least, not yet. On the other hand, I don’t think we should wait for the death-toll of the newest coronavirus to reach 35,000 before we start to worry. So, to all ladies and gentlemen wearing lab coats: Step on it!


COVID-19 CORONAVIRUS PANDEMIC TRACKER

I decided to drop the Johns Hopkins corona tracker and switch to Worldometer’s COVID-19 CORONAVIRUS PANDEMIC tracker. It’s not as good looking as the one from Johns Hopkins but provides more information.

  • Currently Infected Patients (Active Cases)
  • Patients in Mild Condition
  • Patients in Serious or Critical Condition
  • Closed Cases (Recovered / Discharged and Deaths)

Data on testing at The COVID Tracking Project. (US totals and state by state numbers.)

It’s also a good idea to read this article: Evidence over hysteria — COVID-19. (It looks like this post was taken down by Medium. Will see if it come back.) The material is still on at this location.

If you rather use tracker from Johns Hopkins, use this link. Remember, however, that in order to get the number of people presently infected (active cases) you must subtract “Total Deaths” and “Total Recovered” from “Total Confirmed”.


Dr. Chris Martenson on coronavirus outbreak:

His approach is a little scary.

Published on Jan 24, 2020

Published on Jan 25, 2020

Sarah Boseley on coronavirus outbreak:

She represents a more calm look at the outbreak

Published on Jan 23, 2020

Previous outbreaks of coronaviruses.

  • In 2002 Sars (Severe acute respiratory syndrome) spread virtually unchecked to 37 countries, creating global panic, infecting more than 8,000 people, and killing more than 750 (lethality close to 10%).
  • Mers (Middle Eastern respiratory syndrome), first reported in Saudi Arabia in 2012 seems to be less easily passed from human to human, but had greater lethality, killing 35% of about 2,500 people who have been infected.

So far lethality of the newest string of coronavirus is floating around 2-3%. As this is viral pneumonia, antibiotics are of no use, and recovery depends on the strength of a patient’s immune system. Many of those who have died had pre-existing health problems.

Researchers are working in overdrive, trying to come up with the vaccine to the new deadly virus. National Institutes of Health (NIH) is expecting to begin human trials for a potential vaccine in three months. In 2003, the agency took 20 months to move from gene sequencing to human vaccine trials for the SARS virus. Hopefully, this time it will not take that long.

Q and A

Graphics by WHO.

Can pets at home spread the new coronavirus (2019-nCoV)?

Does the new coronavirus affect older people, or are younger people also susceptible?

Are there any specific medicines to prevent or treat the new coronavirus?

Are antibiotics effective in preventing and treating the new coronavirus?

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Cambria CEO Marty Davis: “Trump Is The Smartest Guy In The Room”

You cannot have free trade with a dictatorship that is harvesting the prosperity of an American Democracy.

Marty Davis

Cambria President and CEO

Worth watching.

Mr. Davis doesn’t hold back his criticism of people responsible for the unfair trade agreements and the current international crisis.

Published on Sep 5, 2019
by Fox Business

Maria Bartiromo talks to Cambria CEO Marty Davis, who shares his views on trade issues with China and President Trump’s approach to that problem. He talks about the roots of the conflict and then explains the consequences of short-sighted decisions made by Wall Street tycoons in an alliance with powerful U.S. and Chinese political establishment.

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Steve Bannon’s (Huawei) Claws of the Red Dragon

Does Chinese telecom giant Huawei have ties to the People’s Liberation Army?

Jan Jekielek sits down with Steve Bannon to discuss how the Chinese communist elites have gained power and wealth through access to Western capital and technology and used that power to stifle dissent and advance their self-serving global ambitions.

Steve Bannon is former White House chief strategist to President Donald Trump and former executive chairman of Breitbart News. He is also the Co-Founder of the Committee on the Present Danger: China.

Is it still worth it to do business in China?

Published on Aug 24, 2019
by The Epoch Times

Chinese business model is simple.

First:

  • The Chinese government lets western businesses open factories in China. Western companies like it because labor is cheap.

Then:

  • The Chinese government asks western businesses to transfer their technology to Chinese partners. (In many sectors, Beijing will only let foreign firms operate through joint ventures in which Chinese partners have the majority stake.)

Then:

  • The Chinese partners of western businesses use newly acquired technology to create “their product,” and manufacture it using laborers trained by, guess who, western businesses.

Then:

  • The Chinese partners of western businesses export “new” cheaper product all over the world, creating competition for other western companies.

Then:

  • Other western businesses, which don’t have factories in China, can’t compete. They ask the Chinese government for permission to open a factory in China.

Then:

  • The Chinese government lets other western businesses open factories in China. The western companies like it because labor is cheap.

Last:

Rinse and repeat. As many times as possible.

Note:
I know this is extremely simplified explanation, but…

Simplicity is the ultimate sophistication.

Leonardo da Vinci

And I feel very, very smart right now.

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Social-Credit-Score? The Big Brother Gets Bigger And Bigger And Out Of Control

The Chinese Politburo will rate its citizens! Is Social-Credit-Score coming to an area near you?

It was the year 2010. China began to create this system as a pilot program but officially began development of a nationwide social credit system in 2014, and they plan to have fully operational Social Credit System for its 1.4 billion citizens by 2020.

At that time, there will be a searchable database of every Chinese citizen. It will include all the information collected from public and private companies – starting with social media activities and online purchases thru tax payments, credit history, legal matters and ending on health records and people the rated citizen associates within. Are you scared yet? If not, let me add, that face recognition technology will be a part of the system. (Analysts estimating the country will have somewhere between 300 million and 400 million cameras installed by 2020.)

There’s no flying under the radar.

Published on Nov 25, 2018
by Paul Joseph Watson

Your utility meters, smart televisions, cell phones, telephones, computers, credit cards, banks, and internet are all surveillance devices that are recording your activities and that information may be later used against you.

Steven Magee

All the data collected (authorities already claim to have the records of 990 million individuals and 25.91 million enterprises) will be used to determines a social-score ranking from 350 up to a theoretical 950. The value of human been will be measured in points, the higher, the better.

The social score will run people’s lives.

With a high score, life will be good, very good. Getting a great job – easy. Getting a low-interest or even no-interest loan – no problem. Getting kids admitted to the best school – simple. Even getting a great date on Baihe will be painless. 

With a low score, the word “easy” will be erased from the vocabulary. Forget a good job – accepting a low-score-person as an employee will lower the social score of the business and business owner. Forget getting a loan – high interest will kill you. Good school for kids… O.K. Forget kids. The internet connection service for low-grade citizens will be comparable to that of the early 1990s so no YouTube for those guys.


If some scoring system can either make you or break you, people will find ways to full the system. Where there’s the need, someone will come up with a way to accommodate that need and make lots of cash in the process.


Although the nationwide social credit system managed by the government doesn’t exist yet, Beijing uses social record systems run by local governments and some private versions like Sesame Credit (Zhima Credit) operated by Ant Financial as pilots programs. So far, taking part in both the government and private versions is technically voluntary. In the future, the official social credit system will be mandatory, and the hardware is already in place.

Published on Dec 25, 2017
by BBC News

The last thought.

We can Improve Your FICO Score! Call 1800 – something.” We all see and hear those commercials on TV and radio. China isn’t different. Numerous services have sprung up claiming to be able to boost social credit score. Most of them fly by night fakes, but some (very few) are legit which in this case only means that they know how to cheat the system, and they do.

If having low social score comes with harsh punishments – you might be unable to purchase high-speed train tickets, fly on an airplane, book hotel room, or send your kids to a private school – you will do anything to fix it and if cheating is the fastest way, you’ll cheat.

The Chinese government is creating a Social Credit System to “urge its citizens to do more good and be more trustworthy

I’m afraid that they will create an underclass of honest people who will live their lives by the book and get very little in exchange. On the other hand, those who will learn how to play the system will live very well at the expense of others.

Published on Dec 12, 2018
by VICE News

“I’m finally a normal person.”
As someone said: Life is brutal…

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US-China Trade War Is Gaining Momentum

The United States and China are clearly on a collision course.

For the last few decades, the Chinese government was playing bumper car game with us when driving behind our stretch limo and grabbing whatever has fallen out of its trunk. Our drivers have never reacted to it out of fear of making the situation worse. Until now. We finally managed to hire limo driver with balls. He pulled over, jumped out the car with a baseball bat in his hand and is straightening things out.

Pres. Trump’s tough stand on China’s unfair trade practices is starting to bring some positive effects.

HP and Dell, the world’s No. 1 and No. 3 personal computer makers who together command around 40% of the global market, are planning to reallocate up to 30% of their notebook production out of China, several sources told the Nikkei Asian Review.
Microsoft, Google, Amazon, Sony and Nintendo are also looking at moving some of their game console and smart speaker manufacturing out of the country, multiple sources told the Nikkei Asian Review. Other leading PC makers such as Lenovo GroupAcer and Asustek Computer are also evaluating plans to shift, according to people familiar with the matter.

Nikkei Asian Review – 7/3/19

Beijing might talk tough, pledging “fight to the end,” but major tech companies can see more and more problems threatening their bottom lines like unfair trade practices, national security concerns, and rising labor costs to list just a few and are fleeing the country.

We are winning. More and more companies move their production to U.S.-friendly countries in Eastern Europe and Southeast Asia. Apple Inc has asked its leading suppliers to estimate the cost of relocating 15-30 percent of their production capacity from China to Southeast Asia. Sooner then later, China will have to decide whether to trade fairly with the United States or to risk seeing its economy shrink.

Off course there are some hiccups in the stock market, and every time numbers go down anti-Trump crowd goes crazy hoping the US economy will finally go down the tube and their candidate will take over the white house in 2021.

So far, even with all the liberal media outlets working very hard trying to create a panic and scare people into a recession, the stock market is doing OK.

Year-to-date:

(As of Aug 23, 2019)

DOW JONES INDU AVERAGE INDEX – +9.87%
NASDAQ NMS COMPOSITE INDEX – +16.83%
S&P 500 INDEX – +13.57%

Now, at the end of this post, I’m going to be as optimistic about the stock market and our economy as anti-Trumpers are pessimistic. I predict that by the end of 2020, Trump will beat Xi Jinping, and DOW JONES is going to hit 35,000.

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Steve Bannon’s Warning On China

Is China screwing with the US of A?

Steve Bannon, a former White House Chief Strategist, sits down with Kyle Bass to discuss America’s current geopolitical landscape regarding China. Bannon and Bass take a deep dive into Chinese infiltration in U.S. institutions, China’s aggressiveness in the South China sea, and the potential for global conflict in the next few years.

(Recorded on October 5, 2018.)

Bannon says: yes they are.

Published on Aug 21, 2019
by Real Vision

People are gonna be absolutely stunned when they see how the elites..of the Western democracies and the United States went along with China and exacerbated a situation when it was quite evident they (China) were at economic war with us.

I want China to stop appropriating our technology. China is, through forced technology transfer and through stealing our technology, but really forced technology transfer is cutting out the beating heart of American innovation.

Steve Bannon

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