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Covidiots

https://townhall.com/political-cartoons/robertariail

Eight Phases of Crisis: COVID-19 Edition

I really do want to talk about COVID-19 and get to the bottom of how the issue will progress in the coming months.  While each crisis is different, they are all sort-of-predictable because in the end, people don’t change all that much, even though circumstances do.  Certainly we want to get this all behind us, in the rear view, so to speak.

But what is this pattern I mentioned?  Here are, as near as I can determine, Eight Stages of a Crisis™, a level at which each crisis can be evaluated compared to the other – this is my modification of work originally done by Zunin and Myers.  This is like the Kübler-Ross five stages of grief, but with the apocalypse in mind…CLICK for complete article

Canada’s Economy is Beginning to Collapse

Canada’s economy is bracing for its steepest decline on record in the coming months, with unemployment set to rise to its highest in nearly a quarter of a century. Almost 1 million Canadians applied for jobless claims last week, representing almost 5% of the labor force, this does not include the thousands of claims filed over the weekend.

The speed of the jobless claims is record-breaking, the previous record for an entire month was 499,200 which happened in 1957, according to Statistics Canada data. We anticipate the unemployment in Canada will eventually spike higher than where it was in the early 1990s which, was 11.3%.

One of our greatest concerns with regards to the Canadian economy is its banking system even though its balance sheets are much stronger than 2008.

With this being a major business and consumer recession, timing could never be worse. There is extreme corporate and consumer leverage presently persisting throughout Canada, with debt levels in all tiers nearing all time highs….CLICK for complete article

One Theme Is Popping Up Among These Chinese Companies: Fraud

Three months after Muddy Waters Research sounded the alarm on Luckin Coffee Inc – ADR NASDAQLK, the firm is now accusing popular Chinese online video platform IQIYI Inc of overstating 2019 revenue numbers.

If the allegations prove true, it would be the third high-profile Chinese stock that Muddy Waters has helped expose in 2020.

The Latest Short Seller Allegations

iQiyi is often compared to Netflix, Inc. Parent company Baidu Inc holds a 56% stake in iQiyi.

In a Tuesday report, short sellers Muddy Waters and Wolfpack Research said iQiyi’s 2019 revenue numbers are inflated by at least $1.13 billion.

In a statement, iQiyi said the short report is filled with errors and misleading conclusions…CLICK for complete article

Bernie Sanders suspends 2020 Democratic presidential campaign

WASHINGTON (Reuters) – Democratic presidential candidate Bernie Sanders suspended his campaign on Wednesday, making former Vice President Joe Biden the presumptive nominee to face Republican President Donald Trump in the Nov. 3 election.

“The path toward victory is virtually impossible,” Sanders said in a livestreamed speech to supporters from his hometown of Burlington, Vermont.

“I have concluded that this battle for the Democratic nomination will not be…Click to read full article.