January 1, CDC: No Events of More than 50 People for 8 Weeks

This Day in History | 2008

85 year old investment bank Bear Stearns collapses and narrowly avoids bankruptcy through a sale to J.P. Morgan Chase. 

Good morning Middle Americans, 

It’s time to settle in and get comfortable. It looks like we won’t be going any where for a while. The CDC has come out and recommended some of the strictest restrictions we’ve see yet. The hope is that we can blunt the spread of the coronavirus and keep our hospitals from being overrun with patients.

We just want to let you know that we will be here for you. We’re not going to sensationalize this, but we are not going to shy away from the cold hard truth either. Make sure you are getting this email every morning for the most relevant information out there. Right now, trying to stay ahead of the info curve can feel like drinking from a firehose. But that’s where we come in. We’re here to turn down the noise and point you in the right direction. 

In addition to a few stories about the novel coronavirus and it’s impact on the country, we also have a great round up of last night’s debate, and another look a the cold dark soul of Rep. Rashida Tlaib. 

Read all about it. 

CDC Recommends No Events of More than 50 People for Next Eight Weeks

(The Hill) – The Centers for Disease Control and Prevention (CDC) on Sunday called for the cancellation of in-person events of 50 or more people for the next eight weeks to try to prevent the spread of the coronavirus.

The agency issued new guidance as governors across the country directed bars and restaurants to close down with the exception of carryout or delivery business. Arizona, Ohio and other states have shuttered schools for weeks to try to limit transmission of the virus.

“Events of any size should only be continued if they can be carried out with adherence to guidelines for protecting vulnerable populations, hand hygiene, and social distancing,” the CDC said. “When feasible, organizers could modify events to be virtual.”

Read more here

What Went Down At The First Biden vs. Sanders Debate

(Fivethrityeight) – Much of tonight’s debate, understandably, centered on the coronavirus as more than 3,000 people have reported having the virus in the U.S. and 65 have already died.

Perhaps unsurprisingly then, not a lot of new ground was covered — although Biden did make news by saying he would pick a woman to be his running mate. Rather, much of tonight focused on the two men on stage reiterating their big talking points and rehashing what bills they had — or hadn’t — voted for in the Senate.

Multiple times throughout the evening, Sanders returned to the question of “where the power is in America,” pushing Biden to answer how his administration would challenge the status quo. It seemed, in many ways, like a final adieu from Sanders, although this primary is far from over. Four more states vote on Tuesday, but it’s hard to see tonight’s debate altering the trajectory of the race, and tomorrow’s headlines will likely have more to do with the ongoing coronavirus epidemic than the primary.

See more here

Obama’s Medicare Boss Issues Dire Warning: America’s hospitals Will Be Overrun in EIGHT DAYS

(The Daily Mail) – America’s hospitals will be overrun with coronavirus patients in just eight days and face months of strain, according to Obama’s former Medicare boss.

Andy Slavitt, former Acting Administrator of the Centers for Medicare and Medicaid Services, issued the dire warning on Twitter on Saturday along with a string of advice for the public, governments and health workers. 

‘Last night I was on with state & local officials around the US well into the night. 

‘By March 23 many of our largest cities & hospitals are on course to be overrun with cases,’ he wrote. 

lavitt then listed highlights from the memo he had prepared which included telling people to self-isolate now, closing bars and restaurants, frantically sourcing medical supplies ‘even from the black market’ if necessary and gearing up for the ‘tsunami’ of patients that will soon arrive at hospitals.  

Read more here

Fed Cuts Rates to Zero, Launches Massive $700 billion Quantitative Easing Program

(CNBC) – The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus.

The new fed funds rate, used as a benchmark both for short-term lending for financial institutions and as a peg to many consumer rates, will now be targeted at 0% to 0.25% down from a previous target range of 1% to 1.25%.

Facing highly disrupted financial markets, the Fed also slashed the rate of emergency lending at the discount window for banks by 125 basis points to 0.25%, and lengthened the term of loans to 90 days.

‘The stakes are higher than any most of us have ever experienced: wars, 9/11, whatever,’ he later added.

Learn more here 

Andrew Yang: Coronavirus Fallout Could ‘Be Worse’ Than 2008 Financial Crisis

(Newsweek) – Former Democratic presidential candidate Andrew Yang warned on Sunday that economic fallout from coronavirus (COVID-19) could “be worse” than the financial crisis of 2008, as many have begun urging for at least a temporary version of his signature proposal of universal basic income.

The stock market experienced its steepest one-day slump since 1987 last week amid growing economic uncertainty. As fears surrounding the coronavirus outbreak have spread, air lines have canceled flights, people have been urged to avoid cruises or travel in general, many large events have been canceled and people have been cautioned against going to bars and restaurants, as well as any unnecessary public outings.

“This threatens to be worse than the financial collapse of 2008. The meltdown didn’t cause people to stay home, cancel mass gatherings and travel and shut down schools for weeks/months,” Yang tweeted on Sunday. “There needs to be a stimulus at an economy-wide scale to avoid the real chance of a depression.”

In a follow-up tweet, the entrepreneur added: “Treating this as a pandemic is one thing. Treating this as an imminent economic depression and societal catastrophe spurred by a pandemic is another. You should flood the zone with buying power and a sense of personal financial security as fast as possible.”

Read more here

Rep. Tlaib Retweets: ‘F**k a National Day of Prayer’

(CNSNews) – Rep. Rashida Tlaib (D-Mich.) at the weekend retweeted a post on Twitter which said in part “F**k a National day of prayer,” in relation to President Trump’s call for Americans of all faiths to pray for all those affected by the coronavirus outbreak.

Late Saturday, anti-gun activist David Hogg posted a tweet, saying, “Don’t let this administration address COVID-19 like our national gun violence epidemic. F**k a National day of prayer, we need immediate comprehensive action.”

Tlaib, a Palestinian-American and one of the first two Muslim women to be elected to the U.S. Congress, retweeted it, without comment.

Hogg’s tweet linked to a video clip from Saturday’s briefing of the White House coronavirus taskforce.

In that clip, Housing and Urban Development Secretary Ben Carson said, “Now, President Trump is going to be recommending a National Day of Prayer.  And, you know, we’ve gotten away from prayer and faith a lot in this country.”

Find out more here