President Trump predicted that “Nervous Nancy” will be “overthrown” after the House speaker appeared on a Fox News show and criticized his “weak” leadership during the coronavirus crisis.
“Nervous Nancy is an inherently ‘dumb’ person. She wasted all of her time on the Impeachment Hoax. She will be overthrown, either by inside or out, just like her last time as ‘Speaker,'” the president tweeted on Sunday. “Wallace &@FoxNews are on a bad path, watch!”
He linked to a tweet from the Republican Party that accused Pelosi of playing politics by holding uprefunding a loan program for small businesses, while noting her appearance on “Fox News Sunday.”
“When the #PaycheckProtectionProgram ran out of funding, she decided playing politics was more important than saving #SmallBiz. It is time for the Democrats to be held accountable for putting millions in financial limbo,” the GOP tweet said.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Monday, April 20, 2020
The WHO Has the Audacity to Call for 'Solidarity' During Wuhan Coronavirus Pandemic
On Friday, artists from around the globe came together to hold an eight-hour-long, live-streamed concert called "Together at Home." The concert was a collaboration between the World Health Organization and Global Citizen. The funds raised from the concert, however, benefit the WHO.
"One World: Together At Home is a campaign rallying funds for the COVID-19 Solidarity Response Fund for the World Health Organization," the Global Citizen website stated. "The WHO's mission for COVID-19 is to prevent, detect, and respond to the pandemic. This Fund, powered by the UN Foundation, goes directly to WHO's rapid response to COVID-19 around the world."
To promote the concert, the WHO took to Twitter to ask people to put aside differences and come together to support the organization's "life-saving work."
"Today, we come together as one to express our common humanity, to mourn those we have lost, to salute the health workers who serve us and to say, with one voice, 'We shall not be defeated,'" WHO Director-General Tedros Adhanom Ghebreyesu said in a video. "COVID-19 has taken so much from us but it has also given us [a] unique opportunity to put aside our differences, to break down barriers and seek the best in each other and to lift our voices for health for all and to ensure this never happens again. Never again."
"The World Health Organization is proud to be part of this historic show of solidarity," he said.
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"One World: Together At Home is a campaign rallying funds for the COVID-19 Solidarity Response Fund for the World Health Organization," the Global Citizen website stated. "The WHO's mission for COVID-19 is to prevent, detect, and respond to the pandemic. This Fund, powered by the UN Foundation, goes directly to WHO's rapid response to COVID-19 around the world."
To promote the concert, the WHO took to Twitter to ask people to put aside differences and come together to support the organization's "life-saving work."
"Today, we come together as one to express our common humanity, to mourn those we have lost, to salute the health workers who serve us and to say, with one voice, 'We shall not be defeated,'" WHO Director-General Tedros Adhanom Ghebreyesu said in a video. "COVID-19 has taken so much from us but it has also given us [a] unique opportunity to put aside our differences, to break down barriers and seek the best in each other and to lift our voices for health for all and to ensure this never happens again. Never again."
"The World Health Organization is proud to be part of this historic show of solidarity," he said.
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Ilhan Omar introduces bill to cancel rent, mortgage payments during coronavirus pandemic
Rep. Ilhan Omar, D-Minn., introduced legislation last Friday that would cancel rent and mortgage payments for Americans during the coronavirus pandemic.
The option would be available to all Americans regardless of income or employment status. It also would create a fund for landlords and mortgage holders to cover losses from the canceled payments.
Other progressive members of the so-called “Squad” of House Democrats supported the bill, including Reps. Alexandria Ocasio-Cortez of New York, Rashida Tlaib of Michigan and Ayanna Pressley of Massachusetts. Still, it would fly in the face of calls from some conservative lawmakers to rein in spending; Congress’ recent phase 3 stimulus bill was valued at roughly $2 trillion.
“The coronavirus crisis is more than just a public health crisis—it’s an economic crisis. Minnesotans are losing jobs, getting their hours reduced and struggling just to put food on the table,” Omar said in a statement. “We must take major action to protect the health and economic security of the most vulnerable, including the millions of Americans currently at risk of housing instability and homelessness.”
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The option would be available to all Americans regardless of income or employment status. It also would create a fund for landlords and mortgage holders to cover losses from the canceled payments.
Other progressive members of the so-called “Squad” of House Democrats supported the bill, including Reps. Alexandria Ocasio-Cortez of New York, Rashida Tlaib of Michigan and Ayanna Pressley of Massachusetts. Still, it would fly in the face of calls from some conservative lawmakers to rein in spending; Congress’ recent phase 3 stimulus bill was valued at roughly $2 trillion.
“The coronavirus crisis is more than just a public health crisis—it’s an economic crisis. Minnesotans are losing jobs, getting their hours reduced and struggling just to put food on the table,” Omar said in a statement. “We must take major action to protect the health and economic security of the most vulnerable, including the millions of Americans currently at risk of housing instability and homelessness.”
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https://www.foxnews.com/politics/ilhan-omar-coronavirus-bill-cancel-rent-mortgage-payments
MSNBC's Hot Take: 'If You Want the Government to Open, Then You Want More Black and Brown People to Die'
A panel of CNN guests accused Americans who want to see their country reopen of hating certain minority groups and wanting "more black and brown people to die." The ignorant and hateful comments were spewed on Joy Reid's Sunday episode of "AM Joy."
Renee Graham, an opinion writer for the Boston Globe, believes the protestors aren't really upset about losing their jobs and businesses or being told they no longer have the freedom to associate, buy certain products, watch sports, receive certain medical treatments (don't worry, abortion is safe), send their kids to school, attend churches, or even enjoy certain outdoor activities. What Graham thinks when she sees "a bunch of white people" protesting is that surely they must want more black and brown people to die.
"One thing I think is really interesting is how these protests have started after all the headlines last week or so about the disproportionate effect the virus is having in communities of color, and so when I look at these protests what I see are a bunch of white people essentially saying 'oh, it's affecting those people, so why do I have to change my life for them,'" said Graham.
Senior writer for The Root, Michael Harriot, then told Joy Reid that the protestors are saying "quite clearly" that they "want more black and brown people to die."
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Renee Graham, an opinion writer for the Boston Globe, believes the protestors aren't really upset about losing their jobs and businesses or being told they no longer have the freedom to associate, buy certain products, watch sports, receive certain medical treatments (don't worry, abortion is safe), send their kids to school, attend churches, or even enjoy certain outdoor activities. What Graham thinks when she sees "a bunch of white people" protesting is that surely they must want more black and brown people to die.
"One thing I think is really interesting is how these protests have started after all the headlines last week or so about the disproportionate effect the virus is having in communities of color, and so when I look at these protests what I see are a bunch of white people essentially saying 'oh, it's affecting those people, so why do I have to change my life for them,'" said Graham.
Senior writer for The Root, Michael Harriot, then told Joy Reid that the protestors are saying "quite clearly" that they "want more black and brown people to die."
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'You know, during World War II, you know, Roosevelt came up with a thing:' Joe Biden rambles and struggles for words during interview on coronavirus response
Joe Biden rambled and struggled for words during a CNN interview on Thursday about the coronavirus response, seemingly suggesting the White House should use WWII policies to deal with the pandemic.
Speaking to Anderson Cooper and Dr. Sanjay Gupta, Biden stumbled his way through the evening interview, after being asked his thoughts about President Trump's three-phase plan to reopen the country.
After a long-winded reply about a lack of testing, Biden said: 'You know, there's a uh, during World War II, uh, you know, where Roosevelt came up with a thing uh, that uh, you know, was totally different than a, than the, the, it's called, he called it the, you know, the World War II, he had the war the War Production Board.
'I don't know why we don't set up something like a pandemic production board.'
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Speaking to Anderson Cooper and Dr. Sanjay Gupta, Biden stumbled his way through the evening interview, after being asked his thoughts about President Trump's three-phase plan to reopen the country.
After a long-winded reply about a lack of testing, Biden said: 'You know, there's a uh, during World War II, uh, you know, where Roosevelt came up with a thing uh, that uh, you know, was totally different than a, than the, the, it's called, he called it the, you know, the World War II, he had the war the War Production Board.
'I don't know why we don't set up something like a pandemic production board.'
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U.S. lawmakers make push to assist local newspapers, broadcasters
A bipartisan group of U.S. lawmakers called on Sunday for expanding payroll assistance to struggling local newspapers and broadcast stations that have seen advertising revenue plummet during the coronavirus pandemic.
Democrat Senators Maria Cantwell and Amy Klobuchar and Republicans John Kennedy and John Boozman urged Senate leaders to revise the rules to make thousands of local newspapers, TV and radio stations eligible for assistance under the Paycheck Protection Program.
Many local outlets are ineligible because they are owned by parent companies too large to qualify.
"Ensuring that local news outlets remain viable at this critical time is not only a matter of fairness, but is essential to public health," the senators wrote in a letter.
On Sunday, officials said U.S. lawmakers were close to an agreement on approving extra money to help small businesses hurt by the coronavirus pandemic and could seal a deal soon.
The four senators said local newspapers had lost as much as 50% of advertising revenue, while the National Association of Broadcasters (NAB) says some local broadcasters have reported as much as a 90% loss in advertising revenues.
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Democrat Senators Maria Cantwell and Amy Klobuchar and Republicans John Kennedy and John Boozman urged Senate leaders to revise the rules to make thousands of local newspapers, TV and radio stations eligible for assistance under the Paycheck Protection Program.
Many local outlets are ineligible because they are owned by parent companies too large to qualify.
"Ensuring that local news outlets remain viable at this critical time is not only a matter of fairness, but is essential to public health," the senators wrote in a letter.
On Sunday, officials said U.S. lawmakers were close to an agreement on approving extra money to help small businesses hurt by the coronavirus pandemic and could seal a deal soon.
The four senators said local newspapers had lost as much as 50% of advertising revenue, while the National Association of Broadcasters (NAB) says some local broadcasters have reported as much as a 90% loss in advertising revenues.
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Nunes: GOP investigators 'laser-focused' on information CIA gave to FBI in 2016
House Intelligence Committee Republicans are "laser-focused" on investigating information the CIA gave to the FBI in 2016, according to ranking member Devin Nunes.
For the first time, the California congressman described in great detail the next steps of a broad congressional inquiry into possible misconduct during the Russia investigation, which he said includes scrutiny of three "dossiers" and questions about three Russian Americans. All of this follows the declassification of key documents over the past couple weeks, including footnotes showing the FBI was warned British ex-spy Christopher Steele’s anti-Trump dossier was likely influenced by Russian disinformation and yet continued to use it, and Nunes's pledge to send more criminal referrals to the Justice Department.
During a Fox News interview on Sunday, Nunes brought up the CIA at the end of a list of issues he and his colleagues are examining and credited the investigative work of his former Republican colleague, South Carolina's Trey Gowdy, with providing a road map for that facet of the effort.
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For the first time, the California congressman described in great detail the next steps of a broad congressional inquiry into possible misconduct during the Russia investigation, which he said includes scrutiny of three "dossiers" and questions about three Russian Americans. All of this follows the declassification of key documents over the past couple weeks, including footnotes showing the FBI was warned British ex-spy Christopher Steele’s anti-Trump dossier was likely influenced by Russian disinformation and yet continued to use it, and Nunes's pledge to send more criminal referrals to the Justice Department.
During a Fox News interview on Sunday, Nunes brought up the CIA at the end of a list of issues he and his colleagues are examining and credited the investigative work of his former Republican colleague, South Carolina's Trey Gowdy, with providing a road map for that facet of the effort.
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Sweden sees jump in coronavirus deaths with less restrictive guidelines under scrutiny
Sweden is seeing an unsettling rise in coronavirus deaths, as comparatively lax restrictions across the country are coming under scrutiny.
The Nordic country had reported 1,540 deaths tied to the coronavirus pandemic, an increase of 29 from Saturday. Last week, the Public Health Agency of Sweden said1,333 people had died of COVID-19.
Sweden’s figures are considerably more than in the rest of Scandinavia. While its population of over 10 million nearly doubles those of Denmark, Norway and Finland individually, its COVID-19 death toll was up to 17 times higher than those countries, according to reports.
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The Nordic country had reported 1,540 deaths tied to the coronavirus pandemic, an increase of 29 from Saturday. Last week, the Public Health Agency of Sweden said1,333 people had died of COVID-19.
Sweden’s figures are considerably more than in the rest of Scandinavia. While its population of over 10 million nearly doubles those of Denmark, Norway and Finland individually, its COVID-19 death toll was up to 17 times higher than those countries, according to reports.
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https://www.foxnews.com/world/sweden-coronavirus-deaths-rise-guidelines
WOW! Chris Wallace CALLS OUT a Stunned Pelosi for Pushing Tourism to Chinatown in Late February
Back in late February, 4 weeks after President Trump banned flights from China from entering the US, Speaker Pelosi was out urging tourists to hit San Francisco’s Chinatown.
Jan 31 — President Trump banned flights from China.
Feb. 5 — Democrats blasted President Trump for his China travel ban.
Feb 24 — Pelosi was pushing tourism to Chinatown.
March 13 — NY Mayor DeBlasio encourages New Yorkers to go about their daily lives as usual.
Last week Pelosi deleted a video of herself on Twitter walking around in Chinatown on February 24 downplaying the Coronavirus and urging people to “come to Chinatown.”
On Sunday Chris Wallace gave Nancy Pelosi the first difficult question she has faced in years. Wallace called out Pelosi for pushing tourism in Chinatown — WEEKS AFTER President Trump’s travel ban.
More/Video
Jan 31 — President Trump banned flights from China.
Feb. 5 — Democrats blasted President Trump for his China travel ban.
Feb 24 — Pelosi was pushing tourism to Chinatown.
March 13 — NY Mayor DeBlasio encourages New Yorkers to go about their daily lives as usual.
Last week Pelosi deleted a video of herself on Twitter walking around in Chinatown on February 24 downplaying the Coronavirus and urging people to “come to Chinatown.”
On Sunday Chris Wallace gave Nancy Pelosi the first difficult question she has faced in years. Wallace called out Pelosi for pushing tourism in Chinatown — WEEKS AFTER President Trump’s travel ban.
More/Video
Trump to CBS Reporter Weijia Jiang as She Argues, Lectures and Repeatedly Interrupts Him at Coronavirus Briefing: “Keep Your Voice Down”
CBS White House reporter Weijia Jiang argued, lectured and repeatedly interrupted President Trump at Sunday’s White House coronavirus task force briefing during an over two-minute back and forth about Jiang’s accusation that Trump failed to warn Americans about the virus durung the month of February. Jiang falsely claimed the COVID-19 Chinese coronavirus was “spreading like wildfire” in the country in February.
A check shows there 15 cases in the U.S. on February 15 and 60 cases on February 27. Only 20 cases as of March 1 were by domestic spread. The rest were from those repatriated and Diamond Princess passengers. The virus was not spreading like wildfire in February. During February leading Democrats like Speaker of the House Nancy Pelosi (CA) were encouraging people to stop being racists and visit Chinatown and dine at Chinese restaurants.
Jiang argued with and corrected Trump throughout. Toward the end a fed up Trump told her to “keep your voice down” and demanded of her how many Americans had died from the virus at the time he issued the China travel ban at the end of January. She could not answer when Trump turned the tables on her and repeatedly demanded an answer from her. Trump asked Jiang about eight times how many cases and how many deaths and she could not answer. There seven cases of domestic spread on January 31 when Trump issued the China travel ban. The first death was reported on February 29.
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A check shows there 15 cases in the U.S. on February 15 and 60 cases on February 27. Only 20 cases as of March 1 were by domestic spread. The rest were from those repatriated and Diamond Princess passengers. The virus was not spreading like wildfire in February. During February leading Democrats like Speaker of the House Nancy Pelosi (CA) were encouraging people to stop being racists and visit Chinatown and dine at Chinese restaurants.
Jiang argued with and corrected Trump throughout. Toward the end a fed up Trump told her to “keep your voice down” and demanded of her how many Americans had died from the virus at the time he issued the China travel ban at the end of January. She could not answer when Trump turned the tables on her and repeatedly demanded an answer from her. Trump asked Jiang about eight times how many cases and how many deaths and she could not answer. There seven cases of domestic spread on January 31 when Trump issued the China travel ban. The first death was reported on February 29.
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First responder opens up on emotional toll of coronavirus from front lines: 'It hasn't gotten easier'
A spokesman for the International Association of EMTs and Paramedics warned Sunday that it's been tough for first responders to adjust to their new way of life on the front lines of the battle against the coronavirus crisis.
"It hasn't really gotten easier yet," the group's national representative Frank Wagner told Fox News' Arthel Neville on "America's News HQ." "The call volume is up 200, 300 percent. You have to assume that everyone has it. You go to a facility or nursing home, you to take extra precautions in addition to what we are normally doing."
Asked whether he had the necessary protective equipment to treat the influx of highly contagious patients, Wagner said his supply was "dwindling" slowly.
"I just don't understand why we don't have a six-month or a year-supply stockpile for an emergency like this," he said. "We are conserving, we're rationing the equipment. Everyone does have equipment but it's not what we should have, and once again, we got caught with our pants down."
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"It hasn't really gotten easier yet," the group's national representative Frank Wagner told Fox News' Arthel Neville on "America's News HQ." "The call volume is up 200, 300 percent. You have to assume that everyone has it. You go to a facility or nursing home, you to take extra precautions in addition to what we are normally doing."
Asked whether he had the necessary protective equipment to treat the influx of highly contagious patients, Wagner said his supply was "dwindling" slowly.
"I just don't understand why we don't have a six-month or a year-supply stockpile for an emergency like this," he said. "We are conserving, we're rationing the equipment. Everyone does have equipment but it's not what we should have, and once again, we got caught with our pants down."
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https://www.foxnews.com/media/coronavirus-first-responder-emotional-frank-wagner
Peter Navarro: China 'cornered' the personal protective equipment market and 'is profiteering' during coronavirus outbreak
White House Trade Adviser Peter Navarro said during an exclusive interview on “Sunday Morning Futures” that China "cornered" the personal protective equipment (PPE) market during the coronavirus outbreak and “is profiteering.”
Navarro, who is also the National Defense Production Act policy coordinator, made the comment on Sunday reacting to a recent Fox News report, which cited multiple sources, that there is increasing confidence that the COVID-19 outbreak likely originated in a Wuhan laboratory, though not as a bioweapon but as part of China's attempt to demonstrate that its efforts to identify and combat viruses are equal to or greater than the capabilities of the United States.
Navarro, who was one of the first to warn about the novel coronavirus, noted “China did [several things] over the course of this thing,” which, he said, “led to the deaths of many people worldwide.”
“First of all, the virus was spawned in China. Second of all, they hid the virus behind the shield of the World Health Organization. The third thing they did was basically hoardpersonal protective equipment and now they’re profiteering from it,” Navarro told hostMaria Bartiromo, referencing the fact that many states have been dealing with a shortage of PPE for health care workers during the coronavirus crisis.
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Navarro, who is also the National Defense Production Act policy coordinator, made the comment on Sunday reacting to a recent Fox News report, which cited multiple sources, that there is increasing confidence that the COVID-19 outbreak likely originated in a Wuhan laboratory, though not as a bioweapon but as part of China's attempt to demonstrate that its efforts to identify and combat viruses are equal to or greater than the capabilities of the United States.
Navarro, who was one of the first to warn about the novel coronavirus, noted “China did [several things] over the course of this thing,” which, he said, “led to the deaths of many people worldwide.”
“First of all, the virus was spawned in China. Second of all, they hid the virus behind the shield of the World Health Organization. The third thing they did was basically hoardpersonal protective equipment and now they’re profiteering from it,” Navarro told hostMaria Bartiromo, referencing the fact that many states have been dealing with a shortage of PPE for health care workers during the coronavirus crisis.
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Guest on Chinese-produced Arabic-language program claimed US may be to blame for coronavirus pandemic
A newly uncovered claim, from a Chinese-produced program broadcast to the Arab world last month, suggested the U.S. may be responsible for the COVID-19 pandemic, according to a transcript released Friday from a media research group.
The debunked charges were made by a “Ms. V,” a Chinese vlogger, during an episode of “China View,” broadcast on CGTN Arabic TV, a subsidiary of a state-owned media organization in China. The channel has had at least 14 million viewers.
On the March 17 episode, Ms. V told Arab audiences that COVID-19, which has infected more than 2.4 million and killed at least 165,000 globally, did not come from a seafood market in Wuhan as originally thought.
“Chinese researchers reported in a new research that the transmission of the new coronavirus had started since last December outside this market,” she said, according to the Middle East Media Research Institute (MEMRI), which has monitored TV and social media throughout the Arab world.
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The debunked charges were made by a “Ms. V,” a Chinese vlogger, during an episode of “China View,” broadcast on CGTN Arabic TV, a subsidiary of a state-owned media organization in China. The channel has had at least 14 million viewers.
On the March 17 episode, Ms. V told Arab audiences that COVID-19, which has infected more than 2.4 million and killed at least 165,000 globally, did not come from a seafood market in Wuhan as originally thought.
“Chinese researchers reported in a new research that the transmission of the new coronavirus had started since last December outside this market,” she said, according to the Middle East Media Research Institute (MEMRI), which has monitored TV and social media throughout the Arab world.
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https://www.foxnews.com/world/chinese-arabic-language-program-us-coronavirus-pandemic
Port business owner facing charges for Sunday crowds
However the owner of the business, Dave Carey, said he was following Gov. Larry Hogan's regulations for social distancing and crowd size "to the letter of the law" and is troubled that 15 uniformed officers from 4 different law enforcement agencies responded to Lee's Landing Sunday.
Greg Shipley, spokesman for MSP, said police were at Lee's Landing at Rowland Drive in Port Deposit Sunday around 2:30.
"Responding troopers estimated the crowd upon their arrival to be about 70 people who were on the ‘boardwalk’ portion of the business. Individuals were seen eating and drinking," Shipley said via email.
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OC Air Show will be rescheduled for later this summer
The OC Air Show will be rescheduled for later this summer. OC Air Show officials are currently working with representatives from the military to identify a date. Once event officials receive guidance on this, a new date for the event will be announced.
“The OC Air Show is one of the top annual economic impact generating events in Ocean City” said Bryan Lilley, chairman of the OC Air Show. With the distress that COVID-19 is causing to the local economy we are making a tremendous effort to reschedule the event and do our part to help all the local businesses that prosper every year on air show weekend.”
Tickets that have already been purchased for the VIP Penthouse, Skybox, Flight Line Club and Drop Zone Beach will be honored on the rescheduled date.
Source
“The OC Air Show is one of the top annual economic impact generating events in Ocean City” said Bryan Lilley, chairman of the OC Air Show. With the distress that COVID-19 is causing to the local economy we are making a tremendous effort to reschedule the event and do our part to help all the local businesses that prosper every year on air show weekend.”
Tickets that have already been purchased for the VIP Penthouse, Skybox, Flight Line Club and Drop Zone Beach will be honored on the rescheduled date.
Source
Navarro: China Went from a Net Exporter of PPE to a Large Net Importer
During an interview with Fox News Channel’s Maria Bartiromo that aired on Sunday, White House economic adviser Peter Navarro laid out reasons as to why he saw China’s role in the coronavirus pandemic as a bad actor.
Navarro noted communist nation went from being a net exporter of personal protective equipment, as it is the largest producer in the world, to a net importer. According to Navarro, that suggested something went awry.
“My focus here at the White House is making sure that the people of America are safe from this virus and getting things like personal protective equipment, masks, ventilators and things like that,” Navarro said. “But here is what I can tell you about China. If you think about what China did over the course of this thing, they did four things that led to the deaths of many people worldwide. I mean, first of all, the virus was spawned in China. Second of all, they hid the virus behind the shield of the World Health Organization. The third thing they did was basically hoard personal protective equipment, and now they are profiteering from it. And if you walk through that, you were one of the first in the media to raise the question of whether that P4 lab was involved. That’s an interesting issue.”
“What we know is that the ground zero for this virus was within a few miles of that lab,” he continued.
Navarro noted communist nation went from being a net exporter of personal protective equipment, as it is the largest producer in the world, to a net importer. According to Navarro, that suggested something went awry.
“My focus here at the White House is making sure that the people of America are safe from this virus and getting things like personal protective equipment, masks, ventilators and things like that,” Navarro said. “But here is what I can tell you about China. If you think about what China did over the course of this thing, they did four things that led to the deaths of many people worldwide. I mean, first of all, the virus was spawned in China. Second of all, they hid the virus behind the shield of the World Health Organization. The third thing they did was basically hoard personal protective equipment, and now they are profiteering from it. And if you walk through that, you were one of the first in the media to raise the question of whether that P4 lab was involved. That’s an interesting issue.”
“What we know is that the ground zero for this virus was within a few miles of that lab,” he continued.
U.S. Oil Prices Fall To $11 Per Barrel In Historic Crash
The front-month WTI crude contract crashed by 37 percent early on Monday as the May contract expires on Tuesday and the market fears there is not much storage left in the United States amid collapsing demand in the coronavirus pandemic.
At 8:54 a.m. EDT on Monday, the front-month WTI Crude price was plummeting by 37.22 percent at $11.47. The Brent Crude front-month contract was also under pressure, trading down 6.02 percent at $26.39.
The U.S. oil prices are now at their lowest levels since early 1999. Analysts warn that investors and speculators have already moved to the June contract with the May contract expiring on Tuesday, but they are also cautioning that the weakness in the May contract is indicative of the shrinking storage across the U.S. threatening to be filled up within weeks.
“The expiring contract is now mostly in the hands of physical oil traders and the behavior of the contract confirms what we already feared: That the U.S. is running out of storage at Cushing, Oklahoma, the delivery hub for WTI crude oil futures traded in New York,” saidOle Hansen, Head of Commodity Strategy at Saxo Bank.
“Speculators having bought the June contract now risks that it could get pulled lower over the coming weeks towards where the May is currently trading. Only a major change in the fundamental outlook through lower production, due to producers being forced out of business or leave wells idle, or improved demand for fuel can prevent,” Hansen noted.
The new OPEC+ production cut deal is not expected to alleviate the glut in the coming weeks, as global demand is falling by 30 million bpd these days—down 30 percent from the typical consumption of oil in the world.
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At 8:54 a.m. EDT on Monday, the front-month WTI Crude price was plummeting by 37.22 percent at $11.47. The Brent Crude front-month contract was also under pressure, trading down 6.02 percent at $26.39.
The U.S. oil prices are now at their lowest levels since early 1999. Analysts warn that investors and speculators have already moved to the June contract with the May contract expiring on Tuesday, but they are also cautioning that the weakness in the May contract is indicative of the shrinking storage across the U.S. threatening to be filled up within weeks.
“The expiring contract is now mostly in the hands of physical oil traders and the behavior of the contract confirms what we already feared: That the U.S. is running out of storage at Cushing, Oklahoma, the delivery hub for WTI crude oil futures traded in New York,” saidOle Hansen, Head of Commodity Strategy at Saxo Bank.
“Speculators having bought the June contract now risks that it could get pulled lower over the coming weeks towards where the May is currently trading. Only a major change in the fundamental outlook through lower production, due to producers being forced out of business or leave wells idle, or improved demand for fuel can prevent,” Hansen noted.
The new OPEC+ production cut deal is not expected to alleviate the glut in the coming weeks, as global demand is falling by 30 million bpd these days—down 30 percent from the typical consumption of oil in the world.
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| WTI Crude | -35.000 | -291.57% |
|---|---|---|
| Brent Crude | 26.21 | -6.66% |
| Natural Gas | 1.951 | +11.29% |
| Mars US •22 hours | 19.67 | -5.30% |
| Opec Basket | 17.73 | +1.26% |
Dover cancels Fourth of July Celebration due to COVID-19
DOVER – Boom! Goes yet another event by the wayside due to the coronavirus (COVID-19) pandemic.
The city of Dover’s Fourth of July celebration has been postponed for this summer due to concerns with social distancing to help to stem the spread of COVID -19, along with difficulties in being able to generate donations and sponsors for the fireworks themselves with so many small businesses closed and employees out of work.
However, Dover Mayor Robinson Christiansen, who also chairs the Dover Fourth of July Celebration Committee, said there will eventually be a celebration – one that will celebrate not only the country, but the many other heroes who have risen to the healthcare challenges of 2020.
“Well, as can be expected, I’m really disappointed, because I’m sort of a Yankee Doodle guy,” Mayor Christiansen said. “Having said that, as mayor I promise when this is all over and we can gather safely we are going to have one hell of a celebration honoring all of our heroes that have brought us through this nightmare.
“We will honor doctors, nurses, medical support staff, police officers, firefighters, EMS personnel, paramedics, store clerks, teachers, daycare personnel, city workers, pastors, and anyone else I may have forgotten … and lastly, but by no means the least, we will celebrate the American spirit of our citizens young and old for the bravery and commitment to keep our country strong.”
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The city of Dover’s Fourth of July celebration has been postponed for this summer due to concerns with social distancing to help to stem the spread of COVID -19, along with difficulties in being able to generate donations and sponsors for the fireworks themselves with so many small businesses closed and employees out of work.
However, Dover Mayor Robinson Christiansen, who also chairs the Dover Fourth of July Celebration Committee, said there will eventually be a celebration – one that will celebrate not only the country, but the many other heroes who have risen to the healthcare challenges of 2020.
“Well, as can be expected, I’m really disappointed, because I’m sort of a Yankee Doodle guy,” Mayor Christiansen said. “Having said that, as mayor I promise when this is all over and we can gather safely we are going to have one hell of a celebration honoring all of our heroes that have brought us through this nightmare.
“We will honor doctors, nurses, medical support staff, police officers, firefighters, EMS personnel, paramedics, store clerks, teachers, daycare personnel, city workers, pastors, and anyone else I may have forgotten … and lastly, but by no means the least, we will celebrate the American spirit of our citizens young and old for the bravery and commitment to keep our country strong.”
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Coronavirus Could Be The End Of China As A Global Manufacturing Hub
The new coronavirus Covid-19 will end up being the final curtain on China’s nearly 30 year role as the world’s leading manufacturer.
“Using China as a hub...that model died this week, I think,” says Vladimir Signorelli, head of Bretton Woods Research, a macro investment research firm.
China’s economy is getting hit much harder by the coronavirus outbreak than markets currently recognize. Wall Street appeared to be the last to realize this last week. The S&P 500 fell over 8%, the worst performing market of all the big coronavirus infected nations. Even Italy, which has over a thousand cases now, did better last week than the U.S.
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“Using China as a hub...that model died this week, I think,” says Vladimir Signorelli, head of Bretton Woods Research, a macro investment research firm.
China’s economy is getting hit much harder by the coronavirus outbreak than markets currently recognize. Wall Street appeared to be the last to realize this last week. The S&P 500 fell over 8%, the worst performing market of all the big coronavirus infected nations. Even Italy, which has over a thousand cases now, did better last week than the U.S.
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Gov. Carney continues to weigh closing schools for rest of academic year
While admitting Thursday that Delaware schools will likely stay closed for the remainder of the academic year, Gov. JohnCarney says it’s not an easy call to make.
Right now, all Delaware schools are closed until May 15 and students are learning remotely from home.
Should that continue through June, Carney says there will be consequences.
"We're going to need to think about what kind of activities, what kind of instructional programs they can activate over the summer,' said Carney. "What are they going to do at the beginning of next year with respect to the need for remediation in some of their math curriculum that they didn't get to or they're going to have to help the children and students catch up."
And Carney acknowledges considering how to plan for such things is one argument for making the decision sooner rather than later.
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Right now, all Delaware schools are closed until May 15 and students are learning remotely from home.
Should that continue through June, Carney says there will be consequences.
"We're going to need to think about what kind of activities, what kind of instructional programs they can activate over the summer,' said Carney. "What are they going to do at the beginning of next year with respect to the need for remediation in some of their math curriculum that they didn't get to or they're going to have to help the children and students catch up."
And Carney acknowledges considering how to plan for such things is one argument for making the decision sooner rather than later.
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