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Monday, April 27, 2020

Should we be thinking about returning to work?

not-fully-formed thoughts... to be cont'd...

Questions to ask:

  • What is the cost/benefit?
    • What are the benefits of returning to the office(s); what are the risks, or potential costs?
    • Do the potential gains from returning justify incurring the risks associated with returning?
  • What is different now?
    • If social distancing measures were required in March/April, what is different now [or in May or in June] that allows for those measures to be relaxed and lifted?
      • Is there a vaccine? 
      • If not, have all employees been tested? their families and co-habitants?
      • If not, can we confidently ensure prevention of transmission from employees that are asymptomatic carriers?
      • If not, how confident can we be that no employees nor their family members will be infected with the virus due to RtW


Principles to adhere to:

  • Precautionary principle / no regrets policy


Facts to consider:

  • There is still much that is unknown about this novel coronavirus and the disease COVID-19
    • e.g. complications in patients with COVID-19 have been emerging; and there has been a resurgence of cases in Asian countries 
    • these should have critical implications for how the world proceeds forward
      • Evidence is mounting that COVID-19 has potentially life-threatening complications beyond its impact on respiratory systems.
      • Clinicians worldwide are seeing evidence that the virus is also causing heart inflammation, acute kidney disease, blood clots, intestinal and liver problems, and brain damage.
  • Governments (national/regional/municipal) around the world have adopted different measures and taken different approaches
    • Clearly some of those approaches have been more judicious and more effective than others
    • Given that different governments have pursued different policies, not all decision-makers are adhering to scientifically-determined best practices
    • As such, faith in authority is less warranted at this time than scientific reasoning


Sunday, April 26, 2020

2020-04-26

COVID-19 notes

Our World in Data. Total COVID-19 tests per 1000 people. Data as of 8:00pm Sunday Apr 26

 

 

youtube, hosted by Bob Wachter, chair of UCSF Dept of Medicine: Update on Covid-19: The Next Stage of the Pandemic, Virology & Diagnostics

 

Coronavirus’s ability to mutate has been vastly underestimated, and mutations affect deadliness of strains, Chinese study finds

 

We Still Don’t Know How the Coronavirus Is Killing Us

 

How does coronavirus kill? Clinicians trace a ferocious rampage through the body, from brain to toes

 

Covid-19 causes sudden strokes in young adults, doctors say

 

Young and middle-aged people, barely sick with covid-19, are dying from strokes

Doctors sound alarm about patients in their 30s and 40s left debilitated or dead. Some didn’t even know they were infected.

 

US coronavirus study warns sick children could overwhelm health system

·        Lower risk of fatality from Covid-19 among children has led to a sense of complacency that does not add up, new research warns

·        ‘Urgent’ need to prepare for influx of paediatric cases with infants and very young most at risk

Paediatric services in the US could be overwhelmed by thousands of sick infants and young children – an overlooked group which has a higher risk of serious illness from Covid-19, the disease caused by the new coronavirus, according to a new study. While children are at a lower risk of fatality from Covid-19 compared to the elderly, the very young were most at risk of becoming seriously ill and the sheer weight of population numbers in the United States meant the need to be prepared for an influx of cases was urgent, the study said

 

Permanently damaged

After examining a small group of patients who recovered from Covid-19 6 weeks ago after only mild symptoms, the doctors reported that "The damage to the lungs is irreversible"

 

Coronavirus: Learning How to Dance. Part 1: A Dancing Masterclass, or What We Can Learn from Countries Around the World

A month ago we sounded the alarm with Coronavirus: Why You Must Act Now. After that, we asked countries to buy us time with Coronavirus: The Hammer and the Dance and looked in detail at the US situation with Coronavirus: Out of Many, One.

 

Coronavirus: The Basic Dance Steps Everybody Can Follow. Part 2 of Coronavirus: Learning How to Dance

 

We Should Be Adopting Stricter Measures, Not Loosening the Lockdown

People are growing increasingly impatient over the coronavirus lockdown, and politicians are now debating whether to loosen measures. From a scientific point of view this is a disaster. Measures should actually be tightened until we know more about the virus.

The fact that we might have to live with this until 2022 isn’t scaremongering -- it’s a realistic scenario. That’s what Harvard professor Stephen Kissler and researchers working with him have just calculated for the United States. .. Kissler’s curves depict the catastrophic scenario of an everyday shutdown that would have to be imposed repeatedly if governments dared to relax social distancing measures. Depending on the spread of the disease, people might have to spend up to three-quarters of a year in isolation to prevent overloading the healthcare system. .. We are only at the beginning of the pandemic. And the virus has already forced the world to confront an unbearable dilemma: Living under lockdown with all its social, economic and psychological consequences versus the risk of allowing the disease to run free. It would kill millions of people -- not only the frail, but also doctors, nurses and young people. "How do we get out of this?" the people are asking, expecting answers from politicians. "How do we get out of this?" the politicians ask, expecting answers from scientists. Everyone wants quick answers, because the sun is shining and the cherry trees are blossoming and people are tired of the shutdown. Science will eventually provide these answers, but not now. It will take time, a long time. Proper science requires meticulousness, doubt and tirelessness. And sometimes it has no choice but to deliver bad news like that in Kissler’s study: Defeating the virus may take many months, perhaps even years of shutdown. But people don’t like hearing bad news like this when the sun is shining and they are fed up with the shutdown….


WHO warns that few have developed antibodies to Covid-19

Only a tiny proportion of the global population – maybe as few as 2% or 3% – appear to have antibodies in the blood showing they have been infected with Covid-19, according to the World Health Organization, a finding that bodes ill for hopes that herd immunity will ease the exit from lockdown.

 

Getting a handle on asymptomatic SARS-CoV-2 infection

 

Flattening the curve won’t lead to coronavirus turning point, study finds

·        Projections indicate South Korea and New Zealand are among the best in the global crisis at balancing economics with disease controls

·        China has been effective in suppressing the epidemic quickly but the strategy comes at too high a cost, researchers say

 

Without More Tests, America Can’t Reopen

And to make matters worse, we’re testing the wrong people.

Even as Donald Trump has delineated his plan to relax social distancing, the United States remains very much in the dark about who has the coronavirus and who does not. We have a shortage of COVID-19 tests, and we simultaneously have the highest number of confirmed cases in the world. Consequently, not every American who wants a test can get one. Not every health-care worker can get one. Not even every patient entering a hospital can get one. Because of the shortages, we are rationing tests, and medical facilities and public-health officials are prioritizing the sickest patients for them. If the goal is to restart the American economy, the United States isn’t performing anywhere near enough tests. Worse still, we are testing the wrong people. To safely reopen closed businesses and revive American social life, we need to perform many more tests—and focus them on the people most likely to spread COVID-19, not sick patients. COVID-19 testing has been an unmitigated failure in this country.

 

Antibody Test, Seen as Key to Reopening Country, Does Not Yet Deliver

The tests, many made in China without F.D.A. approval, are often inaccurate. Some doctors are misusing them. The rollout is nowhere close to the demand.

 

IDSA COVID-19 Antibody Testing Primer. Infectious Diseases Society of America.

“A ‘positive’ [antibody] test is exceptionally difficult to interpret because the performance of these tests is not well known.”

 

SARS-CoV-2 Vaccines: Status Report. PDF.

The Current Pipeline for SARS-CoV-2 Vaccines

The development of vaccines for human use can take years, especially when novel technologies are used that have not been extensively tested for safety or scaled up for mass production. Because no coronavirus vaccines are on the market and no large-scale manufacturing capacity for these vaccines exists as yet (Table 1), we will need to build these processes and capacities. Doing this for the first time can be tedious and time consuming (Figure 1). CEPI has awarded funds to several highly innovative players in the field, and many of them will likely succeed in eventually making a SARS-CoV-2 vaccine. However, none of these companies and institutions have an established pipeline to bring such a vaccine to late-stage clinical trials that allow licensure by regulatory agencies, and they do not currently have the capacity to produce the number of doses needed.

Conclusion: For SARS-CoV-2, vaccines might come too late to affect the first wave of this pandemic. However, they might be useful if additional waves occur later or in a post-pandemic scenario in which SARS-CoV-2 continues to circulate as a seasonal virus. In addition, lessons learned from handling this outbreak will allow us to be better prepared in the future. The viruses will keep coming.


Asymptomatic Transmission, the Achilles’ Heel of Current Strategies to Control Covid-19

 

Johns Hopkins; School of Public Health: Contact-Tracing Technology: A Key to Reopening

 

ACLU: Principles for Technology-Assisted Contact-Tracing. White paper. PDF.

 

Test and Trace: Explaining Test and Trace: why it's effective, who's working on it, and how you can help

 

Three Ways to Make Coronavirus Drugs in a Hurry

With no time to make treatments from scratch, researchers search for existingcompoundsthat deflect harm

… A virus is an unusual beast. Essentially it is a cluster of genetic material that integrates itself into a cell and takes over some of the cell’s molecular machinery, using it to assemble an army of viral copies. Those clones burst out of the cell, destroying it, and go on to infect nearby cells. Viruses are hard to kill off completely because of their cellular integration—they hide within their hosts. And they have explosive reproductive rates. Because total eradication is so hard, antiviral drugs instead aim to limit replication to low levels that cannot hurt the body.

 

 

 

Regular Related Fare:

Hussman: Containing the Crisis.

There are three important topics in this comment.

One addresses public health, extends the discussion of SARS-CoV2 (COVID-19) that I began on February 2, when the U.S. had only 5 cases, and the continuing need for crisis response.

One addresses financial market conditions, the implications of recent Federal Reserve actions – partly appropriate, partly misguided, illegal, and unlikely to survive challenge from Congress – and the appropriate investment decision-tree in any event.

One addresses the U.S. economic situation, prospects for recovery, and the structure of economic policies that would be most supportive of families, businesses, and near-term resilience.

 

ECRI: The Three D’s and High-Frequency Leading Indicators

In terms of depth, this recession is extraordinarily deep….  In terms of diffusion, this recession is certainly severe…. But on the third “D,” duration, this recession could be among the shortest on record.

 

Five threats to US food supply chains

 

Coronavirus pandemic 'will cause famine of biblical proportions'

Governments must act now to stop 265 million starving, warns World Food Programme boss

 

Unemployment To Soar As Small Business Firings Start

 

Americans prioritize staying home and worry restrictions will lift too fast

 


Forget 100yr bonds!... Soros: The EU Should Issue Perpetual Bonds

 

BofA: The End Of The Lockdown Will Be The Catalyst That Ends The Stock Rally



Regular Fare:

David Graeber: The truth is out: money is just an IOU, and the banks are rolling in it

 

L. Randall Wray: The Myth of “Helicopter Money”

 

The track record of macro forecasts has been atrocious; don’t expect it to be better after covid-19.


Fiscal Monitor - April 2020

 

 

(not just) for the ESG crowd:

Why CO2 Isn’t Falling More During a Global Lockdown

 

No Warming, No War: How Militarism Fuels the Climate Crisis—and Vice Versa. Pdf

 

David Murrin calls himself a global forecaster; seems to have some interesting insights; subscription seems reasonably cheap; might be worth following. Here are his 2012 notes on Climate Change, including:


Big Thoughts:

Revolts and revolutions: how history reveals the ways coronavirus could change our world forever

From the Plague of Justinian to the Black Death, history shows epidemics don't just change our lives. They can fundamentally change the way the world works

 

TECHNO-TYRANNY: How the US National Security State is Using Coronavirus to Fulfill an Orwellian Vision.

 

 

Long Read:

A PLANETARY PANDEMIC

This number of nlr opens with a set of texts on the covid-19 crisis. Coursing round the world, the virus plays the role of an etching acid that reveals the lineaments—political, economic, social, cultural—of the uneven landscape beneath. Less lethal than such zoonotic forerunners as sars or mers, as Mike Davis spells out below, it is highly infectious, ripping through our 7-billion-strong species in a matter of months. It is this speed that motivates the lockdowns of public activity which have transformed the covid-19 outbreak into a socio-economic disaster. Famously, the initial vectors of contagion were the networks of globalization, cultural and economic: manufacturing supply chains, tourism, international evangelical gatherings and overseas students scattered its microbes from Wuhan to Qom and greater Milan; pilgrims and ski resorts helped to disperse it. Proselytizing Muslims (the Tablighi Jamaat) and Christians (the Seoul-based Shincheonji Church of Jesus), with their fellow-worshippers in Mulhouse and Rio, were mega-spreaders. Students from Wuhan’s giant university complex travelled back to their homes in South and Southeast Asia. As nlr goes to press, the pandemic is making its way across the us, from nyc to Detroit and New Orleans, and seeding itself through Latin America and Africa, where the impact of co-infection with endemic deadly diseases like tb, malaria and hiv is still unknown.

Yet contra these global networks, the political agencies taking charge, one by one, are nation-states, summoned back from the secondary status to which laissez-faire ideology had consigned them—and now resuming, as if in war time, their foundational responsibility for public safety. The virus has been a Rorschach test for ruling parties and national-political cultures alike. In the US, a bellowing hypochondriac in the White House, ambitious state governors honing their profiles, a bi-partisan Congressional bail-out for big business and tougher sanctions on Iran. In the uk, Churchillian sentiment plastering over critical shortages and medics’ deaths. In the EU, assorted neoliberal regimes squabbling over how to press home their prior political agendas. Below, contributions from Mumbai, Surabaya and São Paulo illuminate the particular character of the unfolding crises in Modi’s India, Jokowi’s Indonesia and Bolsonaro’s Brazil; an Iranian scholar of public health details her country’s struggles to combat the virus under geopolitical lockdown; and Taggart Murphy reflects on the relevance of deep-structural geo-cultural contrasts between East and West.

Across this landscape, covid-19 has laid bare the vertiginous social divides—notoriously, New York’s: laden SUVs heading for the Hamptons, while overwhelmed hospitals in Queens fill unmarked graves on Hart Island—even as these are deepened by the economic fall-out of the lockdowns. In the rich world, it reveals the shallow nature of the post-2008 recoveries: the growth in low-paid service-sector jobs has been catastrophically reversed, with 10 million jobless Americans scrambling to register for benefits in the first two weeks of the shutdown, and estimates of between 15 per cent (Goldman Sachs) and 30 per cent (St Louis Federal Reserve) for the coming rise in unemployment and economic inactivity. The negative-demand shock may cut firms’ revenues by 50–90 per cent, and whole sectors—retail, hospitality, sport, live entertainment—have zero earnings. How much of the G20’s promised $8 trillion in loans and credit guarantees percolates down to small businesses and laid-off workers remains to be seen. The demand shock from the West hammers a world economy still struggling to recover from the end of the commodities super-cycle and burdened by debt, much of it denominated in strengthening dollars. Oil has sunk below $35 a barrel; remittances and tourism revenues have been slashed. Welfare is minimal across most of Sub-Saharan Africa, the Indian Subcontinent and Southeast Asia, where lockdowns are enforced with lathis and sjamboks. With further waves of the virus expected over the next six to eighteen months, global supply shocks have yet to kick in.

In an intervention from the philosophers’ debate in Italy, Marco D’Eramo’s contribution here discusses the consequences of the ‘states of exception’ now imposed across 170 countries. The cultural response to the coronavirus—the myriad personal and political reflections, of which we publish an outstanding example in an extract from film-maker Ai Xiaoming’s ‘Wuhan Diary’, a multi-media record from the epicentre of the pandemic—was born online, entangled with the data harvests reaped from our laptops and phones by capital and the state. The world after covid-19 seems set to be one of heavily indebted, austerity-prone states, bailed-out corporations, hungry, impoverished working classes and expanded personal-data surveillance. Yet two things may have changed for the better. First: albeit in authoritarian fashion, governments for the first time in generations have had to put public health above profit-making; if that can happen once, it can happen again. Second: for many, the crisis has provided a rare experience of thinking globally, beyond the walls of our own cultures. It has become ordinary to conceive our species as a whole, under external threat; but also to feel for doctors and nurses in Italy or Iran, to have a sense of the distance from Wuhan to Qom, to ask how they do things in Sweden or Korea. Hopefully, some of that will last. …


Other Fare: 

I, for one, will attest to this: Insomnia and Vivid Dreams on the Rise With COVID-19 Anxiety

 

How COVID-19 Has Impacted Media Consumption, by Generation

 

What Can Daniel Defoe’s “Plague Year” Teach Us About Coronavirus?

A novel written in 1722 offers a surprisingly relevant blueprint to navigating a 2020 pandemic

 

What the Great Pandemic Novels Teach Us

 

 

Quotes of the Week:

From Chris Whalen: "Fannie and Freddie have a 0.25% reserve against their portfolios which now have forbearance on 4.9% of their loans.  The math is not looking good here."

 

Jimmy Dore: re: Pelosi, “When you’re so oblivious & outta touch that even Trump lampoons you for it.”

 

The Real Reason to Wear a Mask

Much of the confusion around masks stems from the conflation of two very different uses.

Masks can be worn to protect the wearer from getting infected or masks can be worn to protect others from being infected by the wearer. Protecting the wearer is difficult: It requires medical-grade respirator masks, a proper fit, and careful putting on and taking off. But masks can also be worn to prevent transmission to others, and this is their most important use for society. If we lower the likelihood of one person’s infecting another, the impact is exponential, so even a small reduction in those odds results in a huge decrease in deaths. Luckily, blocking transmission outward at the source is much easier. It can be accomplished with something as simple as a cloth mask

 

 

Fun Ironic(?) Fare:

as of January 27th: The Countries Best And Worst Prepared For An Epidemic. Forbes, not The Onion.

 

 

Tweets of the Week: 

Trailer (2 minute) for the new horror movie coming this spring, Corona Man.

 

 

Pic of the Week:

the leaders of the countries with the best performing #COVID19 pandemic response