Cuomo Warns “More People Are Going To Die”, New Jersey Lowers Flags To Half-Mast, As US Cases Top 250K

Live Updates: 4/3/2020 @ 3:00 PM CST–Goldman Sachs Buys 2 Luxury Private Jets While Main Street On Verge Of Collapse, and Most American Homes are in Ruin…

Summary:

• US nonfarm payroll was an unmitigated disaster.
• Russia reports drop in cases after extending quarantine
• NY COVID-19 cases top 100k
• Bolsonaro urges the country to “go back to work” as Brazil’s governors say the opposite
• Brazil says first COVID-19 case and death in South American happened 1 month earlier
• Beijing says more than half of foreign diplomats identified as close contacts of COVID-19 patients
• NJ reports jump in new cases, deaths
• Number of recovered patients tops 250k globally
• Japan sees a resurgence of cases continue
• Navy hospital ship in NY only treating 20 patients
• CNN’s Brooke Baldwin tests positive
• The Netherlands reports another 148 deaths
• UK reports biggest daily jump in deaths
• Thousands of small business owners excluded from ‘Paycheck Protection Program’
• Spain, Germany report encouraging deceleration in new cases
• Singapore launches strict 14-day lockdown to fight virus resurgence
• Trump slams 3M on twitter
• 400M in loans doled out
• Bank of America becomes the first big bank to issue loans via the plan
• Mnuchin confirms ‘Paycheck Protection Plan’ is a go
• Tokyo mayor warns about the resurgence of cases on CNN

Update (12:10ET): New Jersey Gov. Phil Murphy has started his latest daily press conference.

LIVE @NBCNewsNow coverage: NJ Gov. Murphy provides the latest coronavirus updates.

https://www.pscp.tv/w/1OdKrqyWEXlxX NBC News @NBCNewsLIVE: @NBCNewsNow coverage: NJ Gov. Murphy provides latest coronavirus updatespscp.tv

Gov. Murphy reported 4,372 new COVID-19 cases and 113 new deaths, bringing the statewide total to 29,895 cases and 646 deaths. He also announced he would be signing an Executive Order directing that all flags across NJ be lowered to half-mast indefinitely in honor of those who have died from the virus around the world.

“This is one of the greatest tragedies to ever hit our state. We must have a constant and visible memorial,” he said.

If these latest data make you depressed, here’s one reason not to despair: the number of patients who have recovered from COVID-19 around the world has passed 250,000, many multiples of the 55,781 deaths recorded so far by Johns Hopkins.

Taken together, the cases announced this afternoon by NJ & NY pushed the US case total north of 250k.

Pentagon Orders 100,000 Body Bags As FEMA Braces For Onslaught Of COVID-19 Deaths

After President Trump’s talk of up to 240k coronavirus-related deaths rattled markets on Wednesday, Bloomberg reported Wednesday evening that the Pentagon is seeking up to 100,000 body bags for FEMA, lending the federal coronavirus response a real natural-disaster feel.

Per BBG, the Federal Emergency Management Agency has requested 100,000 body bags, known in the business as “Human Remains Pouches”, via an interagency group that directed the request to the Pentagon. The Pentagon is looking into sourcing more bags, but will initially provide 50k from a stockpile of 50,000 HRP they have…probably languishing in some underground bunker in Virginia.

Bloomberg described the anxiety-provoking headline as “a somber counterpoint to the Pentagon’s highly-praised deployment of two hospital ships to New York and Los Angeles to help alleviate pressure on regional hospitals overburdened by the pandemic.”

The Defense Logistics Agency’s Troop Support unit manages the Pentagon’s stockpile of the HRPs, which consist of green nylon, 94-inch by 38-inch body bags that are typically distributed to war zones. The unit has been in talks with a contractor about their production capabilities, but the agency has yet to place official order.

President Trump said last night that he’s preparing for between 100k and 240k deaths, as per the official White House projections, but some of the more alarming projections have called for as many as 1 million deaths, without the ‘mitigation’ efforts being enacted by millions of Americans, who are working from home or otherwise staying inside.

FEMA hasn’t requested a formal delivery date from the DLA, according to the report, but the agency has purportedly told the contractor that it wants the bags ready ASAP.

A spokesman for FEMA told BBG that the bags are part of the “prudent planning” process for any potential future needs. The bags specifically apply to any “mortuary contingencies” from US states that might occur.

Earlier this week, the director for the Joint Chiefs laid out the liaison process for working with FEMA and explained how the JC is working “in close partnership” to make sure all needs are addressed.

Meanwhile, the Netherlands reported 1,026 new cases of coronavirus and 148 new deaths, for a total of 15,723 cases and 1,487 deaths. Additionally, joining Chris Cuomo in the CNN quarantine, Brooke Baldwin has announced that she has tested positive.

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Update (12:10ET): Italy’s Civil Protection agency just released the latest coronavirus numbers for Friday, and while there were some bright spots, the 766 deaths recorded across Italy over the last day is the biggest jump since the outbreak started.

But more encouragingly, the 4,585 new cases amounted to about a 4% raise, bringing the nationwide total to 119,827, up from 115,242 a day earlier. The death toll, meanwhile, climbed to 14,681, up from 13,915, still the highest death toll in the world. The mortality rate climbed slightly to 12.2%, as the number of deaths continues to climb, while new cases reported continued to drop.

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Meanwhile, back in NY, CNN just reported that the USNS Comfort, the Navy hospital ship deployed to NYC to help with the hospital overflow, is only holding about 20 patients so far.

Update (11:50ET): As thousands of small and medium-sized businesses ohttps://www.homeoanimal.com/?rfsn=3922622.e70699wners find out that they aren’t eligible for the ‘Paycheck Protection Program’ bailouts, Mnuchin has opted to continue tweeting dollar amount updates to show that loans are indeed being processed.

Steven Mnuchin✔@stevenmnuchin1

UPDATE #PPPloan now over $875,000,000 processed almost all from community banks! Big banks taking applications and will submit them shortly. @SBAgov @USTreasury #CARESAct #SmallBizRelief2,50310:40 AM – Apr 3, 2020Twitter Ads info and privacy1,758 people are talking about this

The market is paying close attention now, so let’s keep those bullish headlines coming, Steve.

Update (1110ET): NY Gov. Andrew Cuomo kicked off Friday morning’s press conference with some somber news: the number of positive coronavirus cases confirmed in the state of New York has surpassed 100k. He went on to explain that NY has been so badly impacted because so many foreign visitors travel there, meaning that before Trump finally barred all foreign travelers, many little outbreaks were likely started by travelers from Europe and elsewhere.

Meanwhile, Cuomo reported another 562 deaths over the last 24 hours, bringing the statewide total to 2,935. That’s the largest jump in deaths yet.

Watch Cuomo live below:

Andrew Cuomo✔@NYGovCuomo

In Albany giving the latest updates on #Coronavirus. WATCH: https://www.pscp.tv/w/cVX2SjIyNjcxMDN8MUJSS2pRV1ZPbmR4dy9EyYCv6unCLxOMTOIcK5IT9abrq4EiMNby9W1XKM1N …Andrew Cuomo @NYGovCuomoIn Albany giving the latest updates on #Coronavirus. WATCH:pscp.tv1,36810:03 AM – Apr 3, 2020Twitter Ads info and privacy716 people are talking about this

As NYC hospitals reach maximum capacity on both ICU and regular hospital beds, forcing Cuomo to move COVID-19 patients to the Javits Center, which had initially been designated as an ‘overflow’ facility, Cuomo reiterated gripes about the inability of states to purchase vital medical equipment from China (though China has selectively allowed some orders to leave through the red tape they’ve suddenly thrown up). Though Cuomo said he is working with Alibaba to procure supplies for the state.

Using some of his most strident languages yet, Cuomo warned that “people are going to die” if New York State doesn’t get the ventilators and other vital medical equipment that it needs and that the state is willing to pay up for this equipment. As for the federal stockpile, Cuomo reiterated that the doesn’t believe there’s enough to help all the states.

That said, Cuomo acknowledged that there are private businesses in the state that have ventilators that they still haven’t turned over to the public effort. Cuomo promised that either the equipment would be returned, or the lenders would be reimbursed.

“I’m not going to be in a position where people are dying and we have several hundred ventilators in our own state somewhere else,” Cuomo said.

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Update (1053ET): As PM Johnson tries to guide his government through an unprecedented crisis while struggling with the brutal flu-on-steroids symptoms of COVID-19, UK Health Secretary Matt Hancock, who has also tested positive for COVID, has confirmed that the UK saw its biggest jump in deaths over the last day.

As the latest data throw cold water on the hopes for a “flattening” in the UK curve, Hancock suggested to a terrified public that deaths could peak on April 12 – Easter Sunday – as some models have shown, according to the FT. 

Meanwhile, here are the latest numbers.

Department of Health and Social Care✔@DHSCgovuk

UPDATE on coronavirus (#COVID19) testing in the UK:

As of 9 am on 3 April, a total of 173,784 people have been tested of which 38,168 tested positive.

As of 5 pm on 2 April, of those hospitalized in the UK who tested positive for coronavirus, 3,605 have sadly died.

1,5668:03 AM – Apr 3, 2020Twitter Ads info and privacy1,521 people are talking about this

Department of Health and Social Care✔@DHSCgovukReplying to @DHSCgovuk

Testing update for England from Public Health England (@PHE_uk):

11,764 tests were carried out yesterday in England.

Testing capacity for inpatient care in England currently stands at 12,799 tests per day.

1738:03 AM – Apr 3, 2020Twitter Ads info and privacy110 people are talking about this

Downing Street has said it will next review the UK’s lockdown conditions after Easter. In the meantime, Hancock and Johnson have their hands full trying to get tests to frontline workers, while trying to stave out an all-out collapse of the NHS.

Update (1038ET): Just as yet another reputable scientist declares that the theory that COVID-19 may have leaked out of a Chinese biolab shouldn’t be dismissed, Beijing is cranking up its propaganda machine and doubling down on its blaming of “foreign visitors” for igniting the second wave of COVID-19 infections.

The Global Times just reported that out of 84 foreign diplomats who recently returned to China, 66% were traced as close contacts of confirmed patients.

This statement, if accurate, offers a glimpse into the depth and complexity of China’s surveillance network, which it has marshaled to help trace the contacts of confirmed COVID-19 patients. It also sets up the foreign ministry to propagate another round of conspiracies that blame the US and the West for the outbreak.

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Update (0944ET): Is Mnuchin going to keep a running ticker of loan figures? It’s starting to look that way:

Steven Mnuchin✔@stevenmnuchin1

#PPPloan UPDATE $400,000,000 originated. Thank you

#communitybank #largebanks @SBAgov @USTreasury #CARESAct #SmallBusinessRelief1,3588:39 AM – Apr 3, 2020Twitter Ads info and privacy710 people are talking about this

This Pestilent Is Revealing to All What Many of Us Have Known for a Long Time: This Godless Nation Was Designed by the Un-Godly to Fail and so Its Failure Was Not Just Predictable but Inevitable

Goldman Sachs Buys 2 Luxury Private Jets As Main Street On Verge Of Collapse

This is definitely not a good look.

At a time when the federal government is struggling to manage its $2 trillion bailouts for main street and SMEs, a handful of Goldman Sachs insiders (probably high-ranking executives) have apparently decided to sandbag CEO David Solomon, who is already reeling from the blowback to his latest raise, the highest among his peers despite $GS’s lagging performance.

BBG reported Friday that Solomon recently OK’d the purchase of two private jets, breaking with a longstanding corporate tradition.

For years, there was an allergy inside Goldman Sachs to owning a private corporate jet. Top bankers had access to rides on planes shared with others, but didn’t want to erode their less-than-stellar image on Main Street with the unnecessary extravagance of having their own.

Until David Solomon took over.

The CEO has ordered up a pair of top-of-the-line Gulfstreams for the firm, according to people with knowledge of the matter. The firm chose a G700 model that sells for about $75 million each, is powered by Rolls-Royce engines and offers cabins so long and wide they contain a master suite with shower.

Understanding why Solomon’s decision might have rankled so many within Goldman requires some knowledge of the firm’s recent history. The bank has long used the fact that it didn’t own a private jet for its executives to travel in as a PR bulwark against liberal Democrats and other critics. Instead of owning a jet outright, Goldman allowed its executives access to chartered planes via an arrangement with NetJets, the Berkshire subsidiary that brokers part ownerships in business aircraft.

Of course, as BBG points out, at the highest levels of Wall Street power, private jets are an expected perk. Goldman is an outlier for not owning one, or even several, and rivals like JPM and MS have had theirs for years.  Looking forward, it’s also possible that the use of private jets becomes more accepted in the age of coronavirus as flights become vectors for spreading disease.

Not only did Solomon buy two jets, but he and the firm chose a G700 model that sells for about $75 million each, is powered by Rolls-Royce engines and offers cabins so long and wide they contain a master suite with shower. According to BBG, marketing material for the G700 advertises a speakerless surround sound and “the industry’s only ultra-high-definition circadian lighting system.”

It’s exactly the kind of unwanted attention that might draw public scrutiny or outrage, or even possibly prompt the Feds to reconsider certain legal agreements struck between the bank and the DoJ over its handling of 1MDB.

As Bloomberg reminds us, when Congress dragged the CEOs of the big Wall Street banks to Capitol Hill in the aftermath of the crisis, they were asked which of them arrived in a private, company-owned aircraft.

All raised their hands – except Goldman’s then-CEO, Lloyd Blankfein.

“Let the record show,” said LA’s Democratic Congressman Brad Sherman, that “all the hands went up except for the gentleman from Goldman Sachs.”

It was a rare PR win for the firm and a moment that actually resonated with the public. Though as we’ve learned, Goldman’s lack of a private jet is merely a ruse, and nothing more. It is in no way indicative of the culture at the firm, which was recently described by a former banker who turned against the bank to cooperate with the Justice Department in the 1MDB investigation, as “a culture of secrecy” where bankers were encouraged to bring in big deals and ignore compliance’s misgivings.

At least when GE had its private jet scandal, John Flannery was able to at least blame it all on his predecessor. This is one of the first Goldman scandals where Solomon distinctly does not have that luxury.

Source: HNewsWire CensoredNews ZeroHedge

StevieRay Hansen
Editor, HNewsWire.com
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