As of December 1, 2020, the coronavirus pandemic is in an uncontrollable spread in 49 out of 50 states. Our country has over 10 million confirmed cases and over 270,000 deaths. With more than 100,000 new cases a day, hospitalizations and deaths will grow exponentially. Today over 1000 deaths are happening each day. The death rate, even with improved treatments since March, will likely grow significantly as hospitals and health care workers are already becoming overwhelmed. That is the best-case scenario in the large cities. Rural areas are entirely unprepared, lacking equipment and knowledge of the most up-to-date treatment protocols. Our country’s political and economic system has failed, and it has failed working people the most. While the wealthy and powerful ride stock market gains, secure in country homes and in the knowledge that they will be able to buy access to ICUs and limited and expensive experimental medications.
New York, NY -This past week reports poured in as New York City opened and built several new medical support structures to aid the overwhelmed city hospital network. Over the weekend, pictures of the converted Javits Center, a huge convention center in Midtown, were circling around, boasting 1200 new hospital beds.
Minneapolis, MN – The world is the midst of a once-in-a-century disease pandemic. COVID-19 is a natural phenomenon that is quickly becoming a human disaster.
Saint Paul, MN – In one of the first known protests organized since the widespread implementation of ‘social distancing’ and ‘shelter-in-place’ with the spread of the COVID-19 coronavirus, a car caravan lined Summit Avenue outside Governor Tim Walz’s mansion in Saint Paul to demand immediate release of all immigrant detainees in Minnesota jails.
An in-depth look at two very different responses to the COVID-19 outbreak in the United States and China
Guangdong, China – There is chaos in America right now surrounding COVID-19. Americans are receiving conflicting information every day about the virus, with no direction from the Trump administration. The Trump administration has decided that the best course of action is to do nothing, with Trump himself declaring “I don’t take responsibility at all.” When the Center for Disease Control (CDC) releases a report, Trump will directly contradict their findings in an attempt to downplay COVID-19’s immediate threat and bolster his own image. The resulting pandemonium has left Americans without guidance on how they should protect themselves and their families against this very deadly disease.
Minneapolis, MN – Worldwide, cases of COVID-19 have broken the 100,000 mark. There are more than 400 cases in the United States, a number that is rising every day. That number is likely much higher, but test kits remain in short supply.
San José, CA – On Friday, March 6, the Labor Department reported that 273,000 new jobs were created in January, driving the unemployment down to 3.5%. But despite this strong job report, U.S. stocks fell again; the broadest S&P 500 was down 50 points or about 1.75%. The Dow Jones Industrial Average, which is made up of 30 large companies, fell less than 1% as investors may have felt larger companies are safer havens. But the real flight was to bonds, with the ten-year U.S. Treasury Bond interest rate falling to another record low of 0.75%.
Coronavirus fear strikes back after a day of gains
San José, CA – On Thursday, March 5, the day after U.S. stocks soared on hopes that a Biden presidency would be better for Wall Street, economic worries about the new Coronavirus (COVID-19) drove down stocks again. The Dow Jones Industrial Average fell almost 1000 points, or 3.5%, with other averages falling a bit less. Interest rates on the ten-year U.S. Treasury Bonds fell to another record low of less than 0.92%, showing both fear among U.S. investors and expectations of weaker economic growth.
Minneapolis, MN – Freedom Road Socialist Organization’s Political Secretary Steff Yorek stated today, March 4, “As COVID-19 spreads here in the United States, the potential exists for the corporate health care system to be overwhelmed. American capitalism has developed a health care system that’s poorly equipped to do basic public health. There is no profit in disease prevention.”
Minneapolis, MN – As COVID-19 spreads in the United States, the potential exists for the corporate health care system to be overwhelmed. American capitalism has developed a health care system well-equipped with fancy technologies and expensive medical devices, but poorly-equipped to do basic public health. There is no profit in the basics of health care and disease prevention.
_Trump administration tries to calm financial markets instead of preparing for outbreak _
San José, CA – By Friday, February 28, the U.S. stock markets had their worst week since the financial crisis in 2008. Stocks closed down 15% on average from their record highs just the week before. The Dow Jones Industrial Average had lost 1000 points during the day but ended down 350 points on hopes that the Federal Reserve would cut interest rates at their next meeting in mid-March.
Trump tweets while novel Coronavirus infections surge outside China
San José, CA – For a second day in a row, U.S. stock prices fell about 3% Tuesday, February 25. After a 1000-point drop on Monday, the Dow Jones Industrial Average fell almost 900 points, or more than 3%, while the broader S&P 500 fell 3%. Investors fled to buy bonds, pushing their prices up and their interest rate down to all-time record lows, with the ten-year U.S. government bond interest rate falling to 1.35%. Typically falling interest rates show fear of slower economic growth or even a recession ahead.
