CVS, Walgreens Shares Slide As Amazon Files International Trademarks For Pharmacy Business

CVS, Walgreens Shares Slide As Amazon Files International Trademarks For Pharmacy Business

Amazon has just taken another step in its assault of the pharmacy industry.

Since the company acquired PillPack, a disruptive online pharmacy, back in 2018, pharmacy mainstays like CBS and Walgreens Boots Alliance have been rattled by the e-commerce and cloud-computing giant’s move into their territory. Their shares dipped on Tuesday as CNBC reported that Amazon had just filed trademarks for its ‘Amazon Pharmacy’ brand in several foreign markets, including Australia, Canada and the UK.

Amazon unveiled its plans to rebrand PillPack as ‘Amazon Pharmacy’ late last year, signaling to the market that it intended to pursue its pharmacy aims despite a high bar set by regulators in the US.

 


Tyler Durden

Tue, 01/21/2020 – 15:18

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UW Lecturer Claims He Was Demoted After Pointing Out Male & Female Differences

UW Lecturer Claims He Was Demoted After Pointing Out Male & Female Differences

Authored by Ben McDonald via Campus Reform,

Stuart Reges, a principal lecturer of computer science at the University of Washington, alleges that he was demoted for being sympathetic to James Damore, the fired Google employee who wrote the controversial Google memo in 2017.

In an article for Quillette, Reges wrote that it all started in 2018 when he wrote another piece for the outlet titled, “Why Women Don’t Code,” which gained popularity after Jordan Peterson tweeted a link to the story.

The recent Quillette article states that he was initially hired to run UW’s introductory computer science classes to which he developed two “highly successful courses that have over 4,500 enrollments combined per year.” 

Yet after his 2018 Quillette piece graduate students at the school filed a grievance against him with their union.

Reges told Campus Reform that he was deeply concerned about what happened to Damore and that he hoped it was an overreaction but said, “I’ve since concluded that he was the canary in the coal mine.  I have seen more and more emphasis on what I call the equity agenda in tech in general and at my school in particular.”

In response to the graduate students’ complaints, UW created a working group, which in turn released new guidelines. 

The guidelines included less rigorous grading when it comes to coding, sensitivity and bias training for teaching assistants,  and spending less time trying to identify students who are cheating. The working group also suggested reviewing each course to ensure it is inclusive. 

Furthermore, the guidelines recommended that professors include in their class syllabi “indigenous land acknowledgment” gender-neutral names that also reflect a number of different cultures, and the avoidance of the use of phrases like “y’all,” “folks,” and “you guys.”

Reges said that before he wrote the Quillette article he spent a year discussing it with professors, to which he concluded,

I am convinced that our diversity efforts are entering a dangerous phase where we emphasize blaming men more than encouraging women, seeing any difference in participation as proof of oppression when perhaps it is just a difference in the choices that men and women make for what career options most interest them.”

He told Campus Reform, “There was an intense reaction from my faculty colleagues and particularly from a group of graduate students in our department.  Many have called for me to be fired.”

In a response to his assertion that he was demoted, UW spokesperson Victor Balta told the DailyUW, “To be clear, Stuart is not being punished; he has not been demoted or placed on probation.”

When asked by Campus Reform for his response to the denial by the school, Reges said, “having the most complex and impactful duties that I perform taken away from me is obviously a demotion.  The bigger issue is the fact that I was reappointed for just one year.”

 He continued,  “every other lecturer reappointment in the Allen School has been for three years and given that I have the highest lecturer rank (Principal Lecturer), the faculty code states that the normal reappointment would be for at least three years. They had to get special permission from the provost to make such a limited appointment.”

Reges said that he will be able to survive no matter what happens and is “just taking it one day at a time.”

Campus Reform reached out to the University of Washington for comment but did not receive comment in time for publication.


Tyler Durden

Tue, 01/21/2020 – 15:05

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Michael Avenatti Is On 24-Hour Lockdown Inside ‘El Chapo’s’ Old Jail Cell

Michael Avenatti Is On 24-Hour Lockdown Inside ‘El Chapo’s’ Old Jail Cell

Following in the footsteps of Martin Shkreli, “creepy porn lawyer” Michael Avenatti recently had his bail revoked for blatantly violating the terms of his release (he got caught trying to hide money from the Feds) and was remanded to prison, where he will remain until his trials on extortion charges in New York, and embezzlement charges in California.

According to the New York Post, Avenatti was recently transferred from a federal pen in California to the infamous Metropolitan Correctional Center in lower Manhattan – the same jail where ‘El Chapo’ awaited trial, and where Jeffrey Epstein was found hanging from his bed in a dubious suicide.

Not only is Avenatti inhabiting the same prison as these other arch-criminals, but rumor has it that he’s currently staying in the same exact cell that played host to El Chapo before he was sentenced to life in prison without the possibility of parole after being convicted on all 10 counts.

And that cell is: the solitary confinement unit – commonly known as ‘the hole’ or ‘the SHU’ (for Special Housing Unit). According to Avenatti’s lawyer, the one-time celebrity attorney, who famously represented Stormy Daniels in her campaign against President Trump (a scheme that ultimately backfired as she was ultimately ordered to cover the president’s legal fees), is being held in solitary confinement in the “Special Housing Unit on the notorious 10-South of the MCC-New York.”

The lawyer asked the judge overseeing Avenatti’s case to return his client to genpop, arguing that Avenatti wouldn’t be able to prepare for his case in these conditions. The lawyer also complained that Avenatti was being held in close proximity to hardened terrorists.

“He is in a cell reportedly once occupied by El Chapo, on a floor that houses individuals charged with terrorism offenses,” Avenatti’s attorney, Scott Srebnick, said.

“The temperature in his cell feels like it is in the mid-40s. He is forced to sleep with three blankets. Not surprisingly, he has been having great difficulty functioning.”

A guard and two cameras keep a constant watch on Avenatti 24 hours a day. Since arriving in the SHU, Avenatti hasn’t been allowed to shave, and he’s only been allowed two phone calls.

It’s unclear how Avenatti ended up in solitary, but given his combative public persona, we imagine he would probably have some difficulty adjusting to the rigidity of life behind bars.

Now, all that’s left is for Avenatti to plot a ‘great escape’ of his own by tunneling to Mexico.


Tyler Durden

Tue, 01/21/2020 – 14:50

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Central Bankers’ Core Mission Now Includes Climate Change

Central Bankers’ Core Mission Now Includes Climate Change

Authored by Mike Shedlock via MishTalk,

The Fed, ECB, Bank of England, and Bank of Japan have now embraced climate change as part of their mission.

It’s bad enough that central bankers are clueless about inflation.

They now want their hands in another thing they do not understand and cannot control even if they did.

Fed’s Core Mission Change

Lael Brainard, Chair of the Fed’s Committee on Financial Stability, says Climate Change Matters for Monetary Policy and Financial Stability.

So how does climate change fit into the work of the Federal Reserve? To support a strong economy and a stable financial system, the Federal Reserve needs to analyze and adapt to important changes to the economy and financial system. This is no less true for climate change than it was for globalization or the information technology revolution.

To fulfill our core responsibilities, it will be important for the Federal Reserve to study the implications of climate change for the economy and the financial system and to adapt our work accordingly.

Climate Change Essential to Achieving Mission

Brainard was just one of the speakers at the Fed’s Economics of Climate Change summit last November.

Mary Daly, San Francisco Fed president has this Q&A in her presentation.

Q: Why is the San Francisco Fed hosting a climate conference? Why this? Why now?

A: The answer is simple. It’s essential to achieving our mission.

Bank of Japan Warns of Climate Change Risks

Japan Times reports Bank of Japan Gov. Haruhiko Kuroda Warns of Climate Change Risks.

The challenges posed by a string of recent natural disasters and the potential hit to the economy from slowing overseas growth “should be better addressed by government with fiscal policy and structural policies,” Kuroda said at a seminar.

As Japan is prone to big typhoons and earthquakes, Kuroda highlighted the risks related to climate change as an example of new issues central banks must deal with in maintaining financial stability.

“Climate-related risk differs from other risks in that its relatively long-term impact means the effects will last longer than other financial risks, and the impact is far less predictable,” he said. “It is therefore necessary to thoroughly investigate and analyze the impact of climate-related risk.”

Bank of England Climate Change Warning

The Bank of England hopped on the climate change bandwagon on December 30, with a Climate Change Warning from BoE Chief Mark Carney.

The world will face irreversible heating unless firms shift their priorities soon, the outgoing head of the Bank of England has told the BBC.

He said leading pension fund analysis “is that if you add up the policies of all of companies out there, they are consistent with warming of 3.7-3.8C”.

Scientists say the risks associated with an increase of 4C include a nine metre rise in sea levels – affecting up to 760 million people – searing heatwaves and droughts, and serious food supply problems.

“Now $120tn worth of balance sheets of banks and asset managers are wanting this disclosure [of investments in fossil fuels]. But it’s not moving fast enough.”

ECB in on the Climate Change Act

The Financial Times reports Christine Lagarde Wants Key Role for Climate Change in ECB Review.

Consider this Open Letter to ECB head Christine Lagarde from the European Parliament.

During your hearing at the European Parliament, you rightly pledged to make sure the ECB puts the “protection of the environment at the core of the understanding of its mission.” As academics, civil society and trade union leaders, entrepreneurs and citizens deeply concerned by climate change, we believe that the most powerful financial institution in Europe cannot just sit passively as we witness a growing environmental crisis.

Climate change not only imperils life-sustaining processes, it also threatens the financial stability, real economy and jobs. It has been estimated that without mitigation efforts, physical risks related to climate change could result in losses of up to $24 trillion of the value of global financial assets.

Wow. $24 Trillion at risk.

Nonetheless, Germany’s Bundesbank president Jens Weidmann, who also sits on the on the ECB’s governing council, understands the silliness of the move.

Weidmann says that he would view “very critically” any attempt to redirect a central bank’s actions towards climate change, such as favouring the purchase of green bonds as part of a quantitative easing programme.

Weidmann is guaranteed to be overruled.

Excellent Video on Climate Nonsense

Global Warming Fraud Exposed In Pictures

Please consider Global Warming Fraud Exposed In Pictures

The key to understanding the fraud is a changing timeline for temperature, fires, Winters, growing seasons, and sea level, all cherry picked for maximum impact.

Central Bank Fearmongering Blue Ribbon Contenders

  1. European Parliament: $24 Trillion in Damages

  2. Bank of England: 9 Meter rise in seal level (29.53 feet).

To decide who wins the blue ribbon, first let’s do a simulation.

10 Meter Rise in Seal Level

Mercy!

The above Alarming Map shows what might be left of Florida when the sea level rises by 10 meters.

Caney said 9 meters but the average elevation of Florida is allegedly only 6 feet. The highest elevation is only 312 feet.

Mark Carney Wins Fearmongering Blue Ribbon

I give Mark Carney the Central Bank fearmongering Blue Ribbon because people can understand the concept of Florida being three feet underwater.

In contrast, no one understands $24 trillion. Besides, that estimates will soon be $250 trillion or higher due to Fearmongering Inflation.

Fearmongering Lesson

None of the above tops AOC who says World Will End in 12 Years: Here’s What to Do About It

Here’s a lesson for you climate fearmongers: Never put a time frame on your prediction that is shorter than your expected life or you will be ridiculed until you die.


Tyler Durden

Tue, 01/21/2020 – 14:30

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‘Russian Spies’ Posed As Plumbers To Bug Elite Davos Attendees: Swiss Police

‘Russian Spies’ Posed As Plumbers To Bug Elite Davos Attendees: Swiss Police

We described previously how organizers of the 50th World Economic Forum in Davos have beefed up security, including extra vehicle checks and ‘webcam shutdowns,’ while the Swiss national authorities have restricted the airspace above the event  and further up to 5,000 troops and even fighter jets and radar have been utilized as part of a $9 million budget just for the extra security. This as Zurich regional police have designated 130 attendees of the attendees “protected under international law” which are among 3,000 other VIPs — most of which are richest people on the planet. Despite hundreds of climate protesters descending on the picturesque town in the Swiss Alps, was the “real threat” Russian agents all along? 

Davos on lock down: Swiss Police atop roof of the Hotel Davos ahead of a prior World Economic Forum (WEF) in Davos, Switzerland. Image via Bloomberg.

Timed for the World Economic Forum’s opening day, Swiss police have revealed an alleged Russian spy and infiltration plot, per a breaking report

Five months before world leaders began their pilgrimage to the annual World Economic Forum this week — among them US president Donald Trump — Swiss police interrupted what reports on Tuesday claimed were the beginnings of a Russian spying operation in the secluded Alpine town

Alerted to their unusually long stay in the high-end resort, police picked up two Russian men in Davos in August, the Graubünden cantonal police department confirmed to the Financial Times. 

Adding to the strangeness of the story, the two Russians who apparently overstayed their welcome in the town were posing as plumbers. Authorities believe that’s how they planned to access facilities and rooms where world leaders and global elites would discuss sensitive policies and planning. President Trump is in attendance, and on the opening day gave a public speech to attendees emphasizing his “America First” approach to global crises. 

Zürich’s Tages-Anzeiger newspaper first broke the story, after Swiss police concluded the men were part of a Kremlin covert effort to wiretap conversations at the high security and notoriously secretive elite event. Russia slammed the accusations as “one more attempt to undermine Swiss-Russian relations,” according to a statement issued by the Russian Embassy in Switzerland.

Davos on lock down, via EPA/Straits Times

Though the initial newspaper report underscored that no specific criminal acts were uncovered, their lengthy stay and Russian passports evoked suspicion by police.

Crucially, when questioned the pair claimed diplomatic protections, despite not being registered in the country as official diplomats — a normative requirement and procedure, according to local police statements

Russian embassy officials acknowledged that two Russian nationals were briefly held and questioned by police, but that no criminal wrongdoing was found. 

Swiss police sniper at the World Economic Forum, via CNBC/Fabrice Coffrini

Recently, two alleged Russian spies were expelled from The Hague in The Netherlands after they were suspected of hacking into a Swiss laboratory. The Hague and other European cities like Brussels which host major international and Western institutions and alliances like NATO and the World Court, have lately been described in international reports as becoming a hub for international spies gathering information for their governments. 

President Trump arrives at Davos this week, via NBC.

In Davos this week, apart from the millions in overall event security being spent by the Swiss, the elite attendees are expected to spend tens of millions on their own personal security.

For example encrypting the US president’s personal communications alone is expected to run $266,000 for a mere two days, according to figures cited in FT.


Tyler Durden

Tue, 01/21/2020 – 14:10

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Still Seething Over 2016, Hillary Clinton Slams Sanders for Sexism Sans Substance

In aiming a series of personal attacks at Sen. Bernie Sanders (I–Vt.) and his supporters, Hillary Clinton achieved little more than once again demonstrating her own poor political instincts and lingering bitterness over her 2016 electoral loss.

Clinton, in an interview with The Hollywood Reporter to promote an upcoming Hulu documentary about her career in politics, blasted Sanders and his supporters for what she called “relentless attacks on lots of his competitors, particularly the women.” She also declined to answer whether she would support Sanders were he to win the 2020 Democratic nomination.

In the documentary itself, Clinton went after Sanders in an even more personal way, saying “nobody likes him, nobody wants to work with him, he got nothing done,” while also characterizing Sanders’ decades-long career in the Senate as “just baloney.” Asked by The Hollywood Reporter if she stands by that assessment, Clinton said she does.

The comments are bound to make waves in the Democratic primary, just weeks before the first votes are cast in Iowa. Sanders’ recent rise in the polls has sent some mainstream Democrats into a tizzy. Meanwhile, the Vermont senator is fending off an attack from Sen. Elizabeth Warren (D–Mass.), who has accused Sanders of telling her privately that a woman could not win the presidency. Sanders has denied making that claim.

Me too, says Clinton.

“This argument about whether or not or when he did or didn’t say that a woman couldn’t be elected, it’s part of a pattern,” Clinton told The Hollywood Reporter. “If it were a one-off, you might say, ‘OK, fine.’ But he said I was unqualified. I had a lot more experience than he did, and got a lot more done than he had, but that was his attack on me.”

That’s a huge mischaracterization of Sanders’ own attack on Clinton during the heated 2016 primaries. Sanders did explicitly question whether Clinton was qualified to be president—after she had aimed similar attacks at him—but Sanders’ critique of Clinton’s record was based on policy, not gender.

Here’s how Sanders put it in April 2016, just prior to the crucial New York primary that effectively sealed the nomination for Clinton:

“My response is if you want to question my qualifications, then maybe the American people might wonder about your qualifications Madame Secretary,” he said.

Sanders added: “When you voted for the war in Iraq, the most disastrous foreign policy blunder in the history of America, you might want to question your qualifications. When you voted for trade agreements that cost millions of Americans decent paying jobs, and the American people might want to wonder about your qualifications. When you’re spending an enormous amount of time raising money for your super PAC from some of the wealthiest people in this country, and from some of the most outrageous special interests … Are you qualified to be president of the United States when you’re raising millions of dollars from Wall Street whose greed and recklessness helped destroy our economy?”

Whether you agree with Sanders on that list of policies or not, there’s no denying that he was making a substantive argument about Clinton’s record—not suggesting that a woman is unqualified for office merely because she is a woman. Indeed, there are many reasons to believe Clinton would have been a bad president, and none of them have to do with her gender—just as there are many reasons to believe Sanders would be a bad president, regardless of his.

Clinton’s most recent attack on Sanders’ mirrors claims she’s made before, most notably in her 2017 book, What Happened. In it, she accused Sanders of “impugning my character” during the 2016 primaries, and said that Sanders’ criticisms contributed to her general election defeat to President Donald Trump.

But by refusing to say whether she will endorse Sanders should he clinch the nomination, Clinton is effectively doing what she accuses Sanders’ own supporters of doing to her in 2016: refusing to be team players and support the eventual nominee. She knows better than most how that kind of thinking can damage the eventual Democratic pick—regardless of who it is—and yet she’s encouraging it. Whatever Clinton may think she is accomplishing here, she’s not helping the Democrats’ cause.

Sanders, for what it is worth, seems to be handling this issue about as well as possible.

When you get right down to it, this whole debate over who is “qualified” to be president seems quaint and not a little ridiculous in 2020—just take a moment to remember who is the current occupant of the White House.

Remember also that Sanders is an avowed socialist who has palled around with Soviet leaders, admired the economic achievements of Cuba under Fidel Castro, advocated for the nationalization of “utilities, banks, and major industries,” disdained private charity, and become a multi-millionaire while delivering a message about the importance of government-enforced equality.

If mainstream Democrats can’t find something in all of that to criticize, they don’t deserve to beat him in the primaries.

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Another Delay: Boeing Does Not Expect 737 MAX Signoff Until July, Stock Tumbles

Another Delay: Boeing Does Not Expect 737 MAX Signoff Until July, Stock Tumbles

Boeing shares are down around 4% after reports from CNBC  indicate that the 737 MAX sign off won’t happen until July.

CNBC cites people familiar with the matter said on Tuesday and notes that this new date is months later than the manufacturer previously expected.

This does not bode well for the company’s imminent bond issuance ( as it tries to shore up its financing to see it through the delayed approval process and rising costs stemming from the crisis).

Shares broke below the key $320 level…

Tumbling to their lowest point since Jan. 3, 2019. 

Boeing shares could be headed down to a long term trend line if the 300 level is breached. 

As a reminder, BofA recently opined:

“we are increasingly fielding concerns from investors regarding the likelihood that the Boeing 737 MAX never returns to service.”

That question may be more critical than ever


Tyler Durden

Tue, 01/21/2020 – 13:58

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Calling Things By Their Real Names

Calling Things By Their Real Names

Authored by Charles Hugh Smith via OfTwoMinds blog,

One does not need money to convey one’s thoughts, but what money does allow is the drowning out of speech of those without money by those with a lot of money.

In last week’s explanation of why the Federal Reserve is evil, I invoked the principle of calling things by their real names, a concept that drew an insightful commentary from longtime correspondent Chad D.:

Thank you, Charles, for calling out the Fed for their evil ways. We have to properly name things before we can properly address them. I would add that the Fed’s endless creation of “money” to hand out to connected bankers (not all bankers) is just one facet of the evil. The evil also manifests itself as extraordinary political-economical power in a system that allows legalized bribery disguised as free speech.

One does not need money to speak/write to convey one’s thoughts, but what money does allow is the drowning out of speech of those without money by those with a lot of money. In essence, the ultra-rich (i.e. the top .01%) get a huge megaphone to blare their thoughts, many of which are deliberately used to disorient and confuse the common man through the major media and so-called higher institutions of learning. Hence, we get common folk actively fighting for policies and laws that are against their own personal interests, such as promoting “free trade” agreements that are really managed trade agreements, whereby domestic workers are forced to complete with workers in other countries who make a pittance and are not protected by labor or environmental laws.

These agreements are part of a legal, yet unjust, framework that gives unfair, competitive advantages to large, multinational businesses at the expense of their smaller domestic and international competitors, which includes the abridgment of basic rights to settle disputes in a real court of law, not some kangaroo arbitration process with biased “judges”.

And we must not forget the bailouts, lack of prosecution for economic crimes, such as fraud and monopolistic and deceptive trade practices, and tax loopholes, all of which are bought in one way or another from the compromised “representatives” and “public servants” within the system.

The evil manifests itself as an enabler and promoter of an endless warfare state that is used to maintain an empire based upon the dollar that uses force, bribery, and blackmail to keep various peoples within the empire in line, which includes those within the host country(ies) (i.e. the USA (and the UK)) at the center of the empire. It causes the host country to befriend countries (i.e. frenemies) that hold values that are diametrically opposed to the values of the host country. The empire’s tactics also breeds resentment towards citizens of the host country, many of whom want nothing to do with the empire, by those who live in the empire outside the host country.

While massive resources are used to support the empire of the dollar, the host country rots from a lack of resources due to taxes, debt, and the misappropriation of resources. Numerous people enlist in the military to supposedly protect the country, but end up really protecting the empire and yet others enlist out of economic desperation, which ironically and perversely, is largely caused by the existence of the very thing they end up serving and protecting.

Lastly, and perhaps most importantly, the evil manifests itself in the severe abuse of our natural resources that leads to (as you’ve put) a landfill economy and the resultant, potential collapse of the biosphere that currently supports human life.

All these things represent the three heads of Cerberus and the body of Cerberus is usury, one of the most destructive forces known to humanity. Its exponential growth function will always lead to the depletion of natural resources because all the resources that would be of use to humans do not grow in that same manner and many of them are finite in the sense of people being able to obtain them in an economical way (e.g. metal ores and energy). Other natural resources like fisheries and forests can only be harvested at certain levels at certain times or they will collapse to a nonviable state.

Usury also always leads to massive wealth disparities that destabilize societies. Over time, the interest on the outstanding debt, especially if the money is debt-based, will find its way to those with assets, who end up buying more assets that get them more interest that enables them to buy yet more assets, etc.

If the Federal Reserve System was simply a decentralized clearing house for financial transactions and it was not allowed to buy government debt and we had a currency that was not based upon usury, would it be evil? It’s fair to say that the Fed has become more and more evil, because it had fundamental flaws (features?) from its inception or it has been changed by evil actors over the years. Either way, we must end its current incarnation, before it leads our country down the road to perdition.

P.S. We were warned of some of this evil by our forefathers; see the Democratic Platform from 1900. Please note how they referred to our country as a republic.

Thank you, Chad, for succinctly summarizing all that we must call by their real names: predatory, parasitic, false, evil.

*  *  *

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Tyler Durden

Tue, 01/21/2020 – 13:40

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Stocks, Bond Yields Tumble As CDC Confirms Coronavirus Case In Seattle

Stocks, Bond Yields Tumble As CDC Confirms Coronavirus Case In Seattle

Update (1335ET): The CDC has confirmed that a traveler from China has been diagnosed in Seattle with the Wuhan Coronavirus.

The patient, who was hospitalized with pneumonia last week, recently had traveled to Wuhan, China, where the outbreak appears to have originated, federal officials have found.

Officials declined to identify the patient, who was said to be quite ill.

The outbreak began at a market in China and now has spread to at least four other countries, and  has killed at least six people and sickened hundreds more in Asia.

*  *  *

CNN’s AnneClaire Stapleton (@AnneClaireCNN) tweeted an ominous warning:

“The US Centers for Disease Control and Prevention is expected to announce this afternoon that the first case of Wuhan coronavirus has been reported in the United States, in Washington state, a federal source outside the CDC tells CNN.”

And the market reacted rapidly…

Transports are the worst hit on the day, already suffering from coronavirus fears overnight…

Can The Fed just print up some anti-virus?

As we detailed earlier, the global risk-off wave had started in the overnight hours of Monday as the full extent of the Chinese coronavirus scare became apparent to traders, has rolled into the cash session Tuesday with airline, casino and gaming, hotel, and travel stocks, taking a leg lower.

Delta Air -3.50%, United Airlines Holdings -3.20%, Southwest Airlines -1.5%, and American Airlines Group -2.50%, were all sold as the outbreak may crimp global air travel during the upcoming Lunar New Year holiday period.

Investors dumped Wynn Resorts -4.45%, Las Vegas Sands Corp -4%, and MGM Resorts International -3%, as the virus threatens to decrease foot traffic. 

Hotels were also sold, Wyndham Hotels and Resorts -1%, Choice Hotels International -1%, and Extended Stay America -1%.

Travel stocks were dumped, Expedia Group -1%, Booking Holdings -2.20%, TripAdvisor Inc -1%, and Trip.com -10%.

Investors are unloading sensitive travel stocks because confirmed cases of coronavirus have tripled since Monday and spread to other countries around China with the risk of spreading across the world. 

Fears of a 2002-03 outbreak of SARs has been on everyone’s mind to start the week – and with a Lunar New Year holiday fast approaching – the spread of the virus could broaden in the days ahead.

Travel sensitive stocks have taken a beating in Asia, Europe, and the US – basically across the world on Tuesday, as investors brace for new cases of the virus that is quickly spreading.

Could this mean world stocks are due for a pullback? 

There is one silver lining however, prices for flu-shot manufacturers are soaring: Nanovaricides +75%, Novavax +44%, Inovio Pharma +11%, and Vaxart +11%.


Tyler Durden

Tue, 01/21/2020 – 13:22

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Localism in the 2020s (Part 3) – Scaling Politics

Today’s post will outline a framework through which I’ve come to view politics, as well as life in general. It will identify and examine various units of sovereignty as they exist in the contemporary U.S., since that’s the political system I’m most familiar with. Nevertheless, the overall framework should prove useful to people living all over the world.

Let’s start from the beginning. The most basic and meaningful unit of sovereignty is the individual, followed by the family, the municipality/county, the state (California, New York, Texas, etc) and finally the federal government (Washington D.C.). It’s my view that within a healthy society the scope of governance should decline as you add more and more individuals to the mix. It’s at the most basic unit of sovereignty (the individual), where authority over most of life’s decisions should reside. This runs the gamut from the really big decisions, such as what sort of work to do, who to marry, what religion (if any) to believe in; to the completely mundane, such as what to eat for breakfast.

continue reading

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