On 4/28/2020 6:46 AM, smitra wrote:
On 28-04-2020 02:30, Alan Grayson wrote:
On Monday, April 27, 2020 at 2:01:48 PM UTC-6, Alan Grayson wrote:
On Monday, April 27, 2020 at 1:31:36 PM UTC-6, John Clark wrote:
A lab in Briton has used genetic engineering to jump ahead of
everybody else and has developed a COVID-19 vaccine in record
time. It seems safe in humans and has been shown to work with
rhesus macaque monkeys. Six of the animals were given one shot of
the vaccine and then exposed to very high levels of COVID-19.
Animals that didn't get the vaccine consistently got sick, but
after 28 days all 6 vaccinated monkeys remained healthy. Last week
a Phase 1 clinical trial involving 1,100 humans started and next
month a combined Phase 2 and Phase 3 trial involving 6,000 people
will start, it will be the first time any COVID-19 vaccine is
tested for effectiveness and not just safety. If it works in
humans as well as it does in monkeys (a big IF) we could
manufacture several million doses of the vaccine by September,
much earlier than previously thought.
Keep your fingers crossed, I don't believe that superstition helps
but they say it works even if you don't believe it.
In Race for a Coronavirus Vaccine, an Oxford Group Leaps Ahead [1]
John K Clark.
Supposing the most optimistic outcome becomes a reality, will it
come soon enough to avoid an economic depression? West Texas
Intermediate, a quoted grade of crude oil, is now trading around $13
per barrel, way too low for US shale, fracking, and crude producers
to avoid bankruptcy. And given the dire effects on small businesses,
apartment renters and those holding mortgages, the combined effects
of bad debt implies a full blown banking crisis is an ominous near
term threat. AG
WTI crude now around $12/barrel, compared to its average price during
2019 of about $54/barrel, way too low for any producer, by any method,
can make a profit, SA being the only exception. I see a major banking
crisis by summer, or possibly earlier. AG
An economic depression is rather simple to prevent, precisely because
the while World is affected by this problem. Everyone essentially owes
a debt to everyone else, so you can at least in principle just ignore
all the debts and restart all the business as usual. This then
requires another system to absorb the debts and settle the bills
later, this is essentially what government borrowing to keep business
running and handing out money to people to buy food, achieves.
It's not only a matter of paying debts. The basis of an economy is
production. If people are not working then things are not being
produced. Handing out money doesn't make food or movies or clothes or
toilet paper appear.
Brent
Saibal
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