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from DW News (Deutsche Welle)
Broadcasting & Media Production Company in Bonn, Germany
Coronavirus confusion about safety of ibuprofen
First it was called fake news, then the WHO issued a warning about ibuprofen, only to retract it two days later. What’s behind the confusion over ibuprofen and SARS-CoV-19?
Coronavirus confusion about safety of ibuprofen
First it was called fake news, then the WHO issued a warning about ibuprofen, only to retract it two days later. What’s behind the confusion over ibuprofen and SARS-CoV-19?
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from FEE (Foundation for Economic Education)
RIGHT-CENTER BIAS, HIGH, non-profit organization
Anyone who’s seen the movie Ferris Beuller’s Day Off probably remembers the scene where Ferris’s economics teacher (Ben Stein) explains the Smoot-Hawley Tariff Act to a roomful of bored, sleeping students. The scene is brilliant for many reasons, perhaps most so because it perfectly demonstrated how some of the most boring things in history are also the most important. Smoot-Hawley was, of course, one of the great blunders in history. Passed in 1930 over the objection of more than a thousand economists, the legislation increased tariffs (which were already high) on imports to protect US industries and farmers, sparking a trade war that deepened the Great Depression. It’s a perfect example of authorities taking decisive action to alleviate a crisis—and making things much worse. What many forget is that Smoot-Hawley didn’t cause the Depression. It was a response to the Depression. Indeed, it may never have passed at all without the catalyst—the Stock Market Crash of 1929—that sent the nation into a frenzy. Senate Republicans had defeated the GOP-controlled House bill the previous year, but trade restrictionists found a convenient crisis in Black Tuesday, which triggered widespread hysteria, allowing the law to squeak through. (President Hoover opposed the bill but signed it anyway because of political pressure, which included resignation threats from several Cabinet members.) Designed to protect Americans during the economic crisis, Smoot-Hawley proved disastrous. Imports fell from $1,334M in 1929 to just $390M in 1932. Global trade fell by roughly 66 percent, government data show. By 1933 unemployment was 25 percent, the highest in US history. To “correct” things, Americans elected Franklin D. Roosevelt, who launched a series of federal programs—which made the crisis even worse. The rest, as they say, is history.
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from First Things
R. R. Reno: The extraordinary shutdown, if continued, will have harmful consequences that go far beyond the economy. A short period of decisive action to buy time to prepare may be prudent. But ongoing measures of mass mobilization are likely to do severe damage to our society. ... As Warren Buffet says, when the tide goes out, you discover who has been swimming naked. He meant to capture an economic truth. When credit tightens in a down market, the indebted and improvident are exposed. But the quip holds true more broadly. The shutdown puts stress on our economic system, to be sure, but it can damage our political and social systems as well. In the end, the latter are more important.
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from The Heritage Foundation
RIGHT BIAS, MIXED American conservative think tank based in Washington, D.C.
RIGHT BIAS, MIXED American conservative think tank based in Washington, D.C.
Coronavirus Pandemic Highlights Importance of Economic Freedom
The mysterious coronavirus, which originated from Wuhan, China, in December 2019, has engulfed countries across the globe. The link between economic freedom and human wellbeing is undeniable. People in economically free societies live longer, have better health, and take better care of the environment. They also tend to have greater capacity to counter infectious diseases that know no borders, such as the current coronavirus pandemic. Now is the time to take decisive yet targeted prudent policy actions to minimize human cost and mitigate the economic effects associated with the coronavirus.
We Need to Be Vigilant to Beat Coronavirus
It is unlikely that we will realize the 2.2 million deaths that the study projects, but that doesn’t mean that we can rest easy. With mitigation efforts, policies designed to slow the spread of infection rather than fully prevent infection, the study projects half the number of deaths due to the infection. That would be tremendous progress, except that it means that 1.1 million Americans would die. Americans can defy the projections by taking responsible actions to prevent the spread of COVID-19.
The Legacy of Americans in a Time of Crisis
It is in a time of crisis that Americans are at their very best. Leadership matters. Community matters. Truth matters. We shall come through this crisis as we have other challenges in our 241-year history.
Saving the World’s International Organizations
Setting up international organizations to bring countries together for discussing and dealing with common concerns is an intuitively good idea. Unfortunately, like an unsupervised kindergarten class, the U.N. and many other international organizations have gotten off track. Undisciplined, unaccountable, and unconstrained international organizations threaten popular sovereignty. Fortunately, we now have an administration that’s willing to push back against this sort of nonsense.
The Senate’s Coronavirus Bill: Bailouts, Missed Opportunities, and Positive Reforms
Any action that Congress takes should be targeted, temporary, and linked directly to the coronavirus epidemic in order to address the source of the economic shock while limiting any political abuse that can develop in a moment of crisis. Unfortunately, the Senate’s coronavirus bill, the Coronavirus Aid, Relief, and Economic Security (CARES) Act misses this mark by including special benefits to specific industries that will exceed $200 billion. We have specified a number of proposals in other papers that would do more to help workers continue to receive paychecks while mitigating the economic effects associated with the coronavirus pandemic. Congress must resist the urge to provide special benefits to select industries and give the robust fiscal and monetary policy response that has already been enacted time to work.
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from London Evening Standard (UK)
Tower of London among six iconic sites being closed by Historic Royal Palaces in battle against coronavirus
The Tower of London, as of Friday evening, will be one of six historical sites run by Historic Royal Palaces that close in light of the coronavirus crisis. "In light of recent govt advice the Tower will close from Friday evening. This extraordinary building has withstood a great deal in its 1,000 year history, and we'll bounce back from this too. Stay tuned, and stay safe." The other sites closing are Hampton Court, Kensington Palace, Kew Palace, the Banqueting Hall, and Hillsborough Castle.
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from NBC News (& affiliates)
LEFT-CENTER BIAS
Kenny Rogers, the country musician behind such hits as "The Gambler" and "Lady" over a six-decade career, has died at the age of 81, his family announced early Saturday. "Rogers passed away peacefully at home from natural causes under the care of hospice and surrounded by his family," according to a statement from his management firm, SKH Music.
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from The Spokesman-Review
Newspaper in Spokane, Washington
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Anxious Oregonians Head for the Woods, Creating a Traffic Jam in the Columbia River Gorge
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from Willamette Week
Anxious Oregonians Head for the Woods, Creating a Traffic Jam in the Columbia River Gorge
Looking for respite from a pandemic by escaping to the woods? You're not alone. Oregon transportation officials say car traffic in the Columbia River Gorge has jumped to midsummer levels as anxious, recently jobless Portlanders look for solitude at the region's most popular waterfalls. "The Historic Highway is seeing midsummer traffic volumes this week, with a number of people choosing to social distance in the great outdoors because of COVID-19," the Oregon Department of Transportation said March 20 in a press release. "Parking lots and roadside parking overflowed this week, with cars parking in ditches and blocking intersections."
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