Coronavirus: 'Very significant' resurgences in Europe alarm WHO
Europe has seen an increase in weekly cases of Covid-19 for the first time in months as restrictions are eased, the World Health Organization (WHO) says. In 11 places, which include Armenia, Sweden, Moldova and North Macedonia, accelerated transmission has led to "very significant resurgence", said Regional Director Dr Hans Henri Kluge. His warnings about the risk of resurgence had become reality, he said. If left unchecked, he warned health systems would be "pushed to the brink". More than 2.6 million cases of Covid-19 and 195,000 deaths have been reported in the WHO's European region, which is expansive, covering 54 countries and seven territories across Europe, the Middle East and Central Asia.
Newspaper in Pocatello, Idaho
Justice Department: Helicopter hounded trail building crew
A low-flying helicopter last weekend harassed a work crew building a public trail on an easement crossing private land that connects the popular tourist destinations of Redfish Lake and Stanley in central Idaho, the U.S. Department of Justice said. The department on Wednesday asked a judge to prohibit future harassment during work on the trail that’s at the center of a federal lawsuit.
from HumanProgress.org
Education Website
This week our heroes are Raymond Damadian, Paul Lauterbur and Sir Peter Mansfield–three scientists who created and refined the magnetic resonance imaging (MRI) machine. Damadian created the world’s first MRI scanner after he realized that cancerous cells would produce different magnetic resonance signals when compared to normal, non-cancerous cells. Prompted by Damadian’s discoveries, Lauterbur developed a way for MRI machines to visualize these cells' signal differences and produce a clear image of inside a patient’s body. Finally, Mansfield created a technique for MRI scans to be conducted in just seconds, rather than hours, and for the image that the scanners produced to be significantly clearer, and therefore more accurate. Each year, hundreds of millions of MRI scans take place. Thanks to their use, untold millions of lives have been extended or saved.
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from Mises Institute
RIGHT-CENTER BIAS, MIXED
A Never-Ending Story of Bailouts, Moral Hazard, and Low Economic Growth
The recent economic downturn has created the environment for a new round of bailouts by the government and the Fed. Last time they did this they told us it would be the last one, but anyone who knows our history knew that was not going to stand. Now we are told again that this is an exceptional situation and we must bail out businesses in trouble so that the economy can restart again as quickly as possible. But this is the same argument the government has always made when pushing for a bailout. What is more, every time the government has bailed out businesses, they have promised us that this will not create moral hazard.
The Corona Crisis Could Bring a New Era of Decline for American Core Cities
Manufacturing company 7-Sigma made headlines when it decided to leave Minneapolis as a result of the company's plant being burned by rioters. "They don’t care about my business,” 7-Sigma owner Kris Wyrobek old the Star-Tribune. After more than thirty years in the city, the company isn't staying, nor are any of the company's fifty jobs.
Why Central Banks Are a Threat to Our Savings
The US personal savings rate jumped to 33 percent in April from 12.7 percent in March and 8 percent in April last year. An increase in savings is regarded by popular economics as less expenditure on consumption. Since consumption expenditure is considered as the main driving force of the economy, obviously a rebound in savings, which implies less consumption, cannot be good for economic activity, so it is held. Saving and wealth—what is the relation? Contrary to what many modern economists say, increased saving is not a problem for the economy. The real problem stems from declines in production and saving, and these often result from central banks' monetary policy.
