On Tuesday, April 28, 2020 at 12:17:47 PM UTC-6, Brent wrote: > > > > 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 >
Handing money to people, perhaps in the form of a guaranteed income, will prevent the demise of small businesses, which employ tens of millions of Americans. AG -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/d8352dea-812e-4e43-871c-3f1fc46075d3%40googlegroups.com.
