Posts Tagged ‘COVID19’

Trump Haters Hate Hydroxychloroquine Too

June 4, 2020

Hate is the gift which keeps on giving to haters, and the worst it gets, the more they thrive.

It’s telling that hydroxychloroquine (HCQ) has become a political issue. Hatred has grown so much that one is considered a stupid pro-Trump racist, if one falls for HCQ. Everyday, the New York Times comes out with a new anti-Trump article accusing him of promoting hydroxychloroquine (he has “promoted” all plausible and potential COVID treatments)…. But the anti-Trump plutocrats have a good reason to hate the cheap HCQ. And it has nothing they want to crow about.

There are many other anti-Trump articles, from all sorts of angles, but the  anti-Trump-anti-HCQ article of the day is a tradition, at the New York Times. Like Goebbels they keep repeating the same lie: there is no evidence that HCQ, etc… Aldous Huxley — ‘Sixty-two thousand four hundred repetitions make one truth.

Most of the plutocratically owned press (sorry about the pleonasm) the one which hates Trump, has made that drug, HCQ, a political issue by observing that it was “promoted by President Trump and others”… Then they add that there is no evidence that it can prevent or treat Covid-19. It reminds one of priests singing the same song everyday. 

Actually there is plenty of evidence that HCQ works, the only question is how well… for no less than three classes of reasons:

a) Hydroxychloroquine is an immune moderator, that’s how it works against Lupus. The worst problem with COVID is a crazed immune system, overreacting.

b) for other reasons, HCQ hinders the virus. The effects are modest, but strong enough to be used in comparison to developing therapeutics in the world’s largest study in vitro… Stanford, part of this study published that some drugs “worked twenty times better than HCQ”. A difference between these potential drugs and HCQ, is that HCQ has been used by more than two billion people (I, and Raoult, both from Senegal, used it for years. The NYT no doubt will tell me that’s why I insist to be fair and balanced about Trump… For relaxation, they will censor ten of my pro-HCQ comments…)

c) HCQ has been demonstrated to reduce viral loads. d) In countries (Russia, India, Turkey) where HCQ is used massively, the death rates are spectacularly lower.

In Turkey Hydroxychloroquine plus AZT, the Raoult treatment, is used massively at the first symptoms. The results are spectacular. Turkey has 170,000 cases of coronavirus, for a population of 82 millions. By comparison, Great Britain has had more than 40,000 DEAD (actually final government counting turns out 40% higher after a few weeks… So expect 50K soon). The Indian research body, ICMR uses it for the healthcare workers (HCWs) who are at an elevated risk of contracting Covid-19.

The ICMR study indicates that “simply initiating HCQ prophylaxis did not reduce the odds of acquiring Covid-19 infection among HCWs. However, with the intake of four or more maintenance doses of HCQ, the protective effect started emerging. A significant reduction of about 80 per cent in the odds of Covid-19 infection in the HCWs was identified with the intake of six or more doses of HCQ prophylaxis. This dose-response relationship added strength to the study outcomes.

It goes without saying that, if HCQ plus a macrolide (antiviral) antibiotic mitigates COVID, the biotech stocks are worth much less, and they trade indeed according to fake studies on HCQ.

Many of the great priests of the Demo-Plutocratic Party are wheelers and dealers. They want those biotech stocks to go ever higher. So down with the twenty dollar treatment removing most of the problem! And Trump fixing it! They want Trump to lose so that all jobs can be sent to China again!

In the last few weeks one doctor made a BILLION dollars from investing in Biotech (yes, 10^9 dollars). I don’t doubt the august doctor hates Trump, who is all what’s between him and another billion. After he turned out that The Lancet and NEJM authors were at best greedy monkeys (the self-dealing of the study was obvious) and their anti-HCQ “study” collapsed, biotech stocks collapsed in turn 15%! (I’m tracking very closely, don’t ask…)

So the Lancet just published a “study” which was grotesquely self-dealing… But the French government full of corrupt manslaughtering idiots, immediately forbid HCQ. France has become a very fascist country recently, with even going on beaches, parks and mountains outlawed, even if they were out of your door. Everyday is about the mood and caprices of the ex-banker of M&A, the young king, Macron I.

Meanwhile, Germany, next door, by reacting intelligently and locally rather than by being led by a corrupt young fascist banker-Fuhrer, had a death rate 20% of that of France. See, the Germans have become five times more intelligent than the French, as measured by COVID! It took a while, but there is hope! The German situation is a consequence of being led by a physicist, and local democracy (regional governments took the best decisions).

Meanwhile, the New York Times will keep on wishing with all its might that as many US citizens as possible die from COVID, as long as Trump goes down too… That’s because they want the return of their gilded age, with all jobs in the Chinese dictatorship… That’s why they support the New Jim Crow laws author that much (those laws date from 1994, when Senator Biden led the charge… Black Lives Matter is officially against them, so I don’t see how they could support their author).

People go around and ponder human nature. How come? Lincoln! Definition of goodness! Killed only a million Americans! OK, not his fault! Better Angels, come around! Let’s celebrate the intrinsic goodness of man, and of its butchers in particular, as long as they are our butchers! And what of the worst angels? When do they come around? What if hatred was an exponential phenomenon? Last night a 22 year old white youth was killed in Vallejo, California. He was unarmed, kneeling, hands up, a youth advocate from San Francisco. When the looting is alleged, the shooting starts (that statement is viewed as racist by the haters, by the way, that’s why I use it). The police officer shot five times, through his windshield: death can’t wait. Black lives matter! Do white lives matter too? Or do people have to be painted particular to be worth of racial considerations?

Hate is the gift which keeps on giving, and the worst it gets, the happier the haters.

Patrice Ayme

P/S: There has been a whole slew of anti-HCQ papers. Those I read were grossly incompetent, violating blatantly the “scientific method”. For example by comparing HCQ patients with non-HCQ patients… For just two days. After these two days, the non-HCQ were switched to HCQ, and the conclusion was that HCQ had no advantage… The data of two enormous studies published in the New England Journal of Medicine and The Lancet, came from a private company called Surgisphere, which claims to have granular patient-level information shared by 1,200 hospitals and health facilities on six continents (list not available). The founder and chief executive of Surgisphere, Dr. Sapan Desai, was listed as an author on both papers… Oops.

SURVIVAL IS BEST & DEFINES SUPERIOR CIVILIZATION… With A Little Help From The Dark Side (Thus, Cruelty).

April 3, 2020

Centuries Of Continuous Wars, And Apparent “Cruelty” Created What The Franks, Rescuing Civilization, Called “Europe”:

When the empire of the Romans collapsed, their closest Federates, the Franks, took over, conquering Gallia, then Germania, Lombardia, and basically all of Europe, “renovating the Empire of the Romans”, as they put it. Then the Franks pushed away the invading Muslims out of southern France, northern Spain. Later France and her Angevins and Normans conquered England, and freed Italy, Sicily and other islands from the occupying Muslims. Then, for a millennium, the superpowers of Europe were squabbling France and her subsidiary and colony, Britain. For a while, all too Catholic and Inquisition wrecked Spain became all too wealthy and uppity, having conquered the Americas. Spain then fought France (in Italy) and then France and Britain all over, resulting in the creation of the Netherlands.


Part of The Problem Was That The Concept of Progress Changed:

The fanatical Christians, put in charge by Roman emperor Theodosius I, were of the opinion, as Augustine put it around 410 CE, that collapsing the City of Rome was the key to fostering the City of God. The City of God against the pagans… Latin: Dē cīvitāte Deī contrā pāgānōs. That was a declaration of war against most of the population, as most of the population was “pagan” (which meant “peasant”).

For the Christian bishops in power around 400 CE, “progress” was to outlaw the death penalty (and free, or secular thinking). Thus brigands knew they would not be punished (enough) to stop them. The highways became completely unsafe, and trade collapsed. The army couldn’t be paid anymore. This was the result:

Dark Side failure: Rome proximally collapsed because its Dark, Most Cynical Side collapsed. When superstitious Do-Goodism, known as Christianism took over, in 381 CE, cruelty, the Dark Side and the tough edge to human inquiry were outlawed, under the penalty of death. As it turned out, catastrophic, most cruel calamity followed: CIVILIZATION COLLAPSED. Invasions followed the establishment of the Catholic dictatorship, to the point that the same individuals, for example the Visigoth king Alaric, were in charge. Alaric defeated the secular forces in 394 CE, under Theodosius nominal command. The same Alaric sieged and took the city of Rome in 410 CE.


Concepts Like “Civilization” and “Progress”, Even “Common Sense” Fell, When The USA Took Over:

So France and Britain ruled for (most of) nine centuries. Then in the Twentieth Century, fascist, uppity Germany made attempts to take over Western Europe by force. The child of France and Britain, the USA, was all too friendly to Germany… in part because not only was there money to be made, but also parents to be replaced. 

The end result is that the USA won the Second World War, even pushing its cynicism to use its dog, Stalin, to watch over half of Europe. US master minds made sure that, in countries such as France, influencers would be on the payroll. Hence an entire generation of European thinkers appeared, who brainwashed We The People that progress, education, instruction, independance, common sense, basic decency were all notions so relative, than “superior” or “inferior”, or even “civilization”, or “better”, were not absolute.


Kathleen Hawes Watkins And in the absence of consensus on “progress” and “common good” – – we live in a pluralistic/multi-polity reality – – our prime directive is/should always be to avoid cruelty. 

Cruelty is taking pleasure in applying the Dark Side. But the fact is, sometimes, the Dark Side needs to be applied (see the war against Nazi Germany). And it would be difficult, ethologically speaking, to feel inclined to apply it, from duty alone. 

As I explained above, banning cruelty is very close to banning the Dark Side, our main servant to destroy bad tribes like the Nazis, or bad ideas, such as Stalinism or Theodosius’ Catholicism. 

Kathleen gave a link to Aeon, a Pluto financed site (which has blocked some of my comments, and now all comments, apparently):

Shklar defined “liberalism”[0]: something crucial to the established US order, the plutocratic elite in charge for more than a century now. US pseudo-leftists define themselves as “liberal“. 

Shklar is a Harvard professor… Need I say more? That means the establishment established that she was a positive contribution to… the establishment. Indeed Shklar obsesses about something called “liberalism“, defined as no fear (to outrage common sense), no favor (to We The People). “Liberalism” became the ideology of global plutocracy, starting way back with US plutocrats financing and helping Hitler, and blossomed with global plutocrats instrumentalizing the Chinese dictatorship… whose latest export is seen to be a carefully, and secretly nurtured virus..

In Shklar, we are contemplating a buttress of the establishment here, not a thinker throwing light on obscure yet crucial subjects. Comparing her to Montaigne, as some have done, is silly: Montaigne was NOT a university professor. If he had been, he would have had to make a career of only thinking about pleasing the establishment, and thus would not have been Montaigne [1]. That doesn’t mean Montaigne was a saint. Far from it: he was a Catholic… But a Catholic very friendly and tight with two of the greatest thinkers and benefactors of humanity: feminist author and Queen of France Marguerite de Navarre, and her husband, king of Navarre, and, after a while, of France.

So the establishment tells us that the ultimate evil, the summum malum, the sum of mal, is… cruelty? [2] What is cruelty? The pleasure provided by the deliberate infliction of pain and suffering? What is more human? Humanity has been the ultimate predator for millions of years. That means, humanity evolved in an ecology where the greatest danger to a human being was other human beings not in their own tribe. Also, human life, in part as a result of this, but also to bring down cattle and overawe lions was most optimal when tribal. Hence tribalism is part of the inherent mental organization of human, just as much as the love (the tribe)-hate (the other tribe) nature of human ethology.

To bemoan it, while being part of the mighty Harvard tribe, or any other established tribe, is hypocritical. A philosopher, the genuine article, civilization class, is a tribe of one (this dismisses Plato and Aristotle, nota bene, as Plato was Athenian aristocracy and Aristotle Macedonian plutocrat… Not to say Aristotle is not important and not a good historian of science, or good observationalist).

I am always beyond uneasy when I come across Jews who bemoan cruelty and the Dark Side: they understood nothing from The Holocaust. The Holocaust happened precisely because all too many Jews claimed that, to be a fair and decent human being, one had to deny the existence of cruelty and the Dark Side. They exist, instead, and are intrinsic, one may as well deny death… to which they are closely related. Cruelty and the Dark Side are part of the architecture of death, as managed by humanity. Claiming no architecture is needed is denying the essence of humanity.

Watch the civilized doing triage during COVID 19, for further instruction.


One third of European Jews survived, because starting with the French and followed by the British, bombers were sent over German cities to kill German babies. Among other cruel objectives. The Germans didn’t like that. When the Germans invaded France in May 1940, their army consisted of more than six million soldiers, fueled by Soviet oil. 

Later, when the Nazis invaded and then struggled in the Soviet Union, the attacking army consisted of just three millions. It didn’t work out so well, unsurprisingly: the Nazis had too little oil and soldiers to tackle the USSR. Why so few men attacking the USSR? 

Another million German soldiers were manning the giant German anti-aircraft defence system against British bomber streams coming at night. At some point, defeating Nazi radar, British raid after British raid burned to a crisp in a deliberately set firestorm, the city of Hamburg. The fire storm was made so that civilians in underground shelters would die too.

This is how Auschwitz was liberated, by killing lots of German babies, and this is why not all Jews were not killed. The Soviets, who marched into Auschwitz, profited from absolutely gigantic US aid, given to them, free of charge; so Americans are often under the impression that to fight a war, one just needs to be industrious. No. First, one needs to be cruel. Cruel against oneself, first of all as one goes to destroy evil, la fleur au fusil.

Patrice Ayme



[0] Judith N. Shklar defining “liberalism” (in other words, Bushism, Reaganism, Clintonism, Obamaism; I put “Bush” first as dynasty founder Prescott Bush served Hitler in the 1920s, 1930s, 1940s…):“Every adult should be able to make as many effective decisions without fear or favor about as many aspects of her or his life as is compatible with the like freedom of every other adult. That belief is the original and only defensible meaning of liberalism.”

It’s of course a lie, Shklar is a liar, or incompetent, or both. Dynasties are all over the USA, especially where Shklar taught… So “favor” rules… And “fear” too: thousands of my comments were banned over the years, I was banned from sites, and even got government threats, just for my cogent discourses, where the guiding light is truth, and nothing but the truth, in full… People banned from academia for not respecting the guideline of respecting the establishment. The establishment even tried to do this to professor Raoult, for daring to say all too many truths about the COVID 19 pandemic.


[1] So what of Buridan, Rabelais, and Galileo? They were famous thinkers, iconoclasts, and still extremely famous university professors, all with great philosophical dimension? Doesn’t that disprove my theory that, to be a famous philosopher, one needs to be out of the university system? The answer is simple: Buridan, circa 1350 CE was adviser to four French kings, head of the university and lover to the queen, That gave him mental freedom. The situation of Rabelais was somewhat similar: a most famous professor of surgery, top of tops in Paris. And Galileo was childhood friend to the Pope (Galileo’s travails came in part of his bad character and arrogance; he didn’t understand tides, but make sure to tell his friend the Pope that his tide theory was wrong; he also got into astronomical fights with Jesuits)


[2] “It seems to me that liberal and humane people, of whom there are many among us, would, if they were asked to rank the vices, put cruelty first. Intuitively they would choose cruelty as the worst thing we do.”

Judith N. Shklar wrote.

OK, so what do we get from that? Shklar is cruel: that’s the worst thing she and her kind do. That’s her problem. I would define myself as potentially cruel, but would not say that “cruelty is the worst thing we do”, because, although I have seen cruelty applied to me (like in having my young uncle assassinated, or throwing a bomb or fatwa my way)… I do not know of a case where I exhibited cruelty much greater than smashing mosquitoes or using soap against viruses… But I have no doubt that, to become part of the establishment one has to partake in serious cruelty, so, indeed, Shklar has got to be cruel, as she readily admits. But then how come does she believe she is in position to teach us that we do it too? Who taught her that? Jesus Christ, the hero of Anglo-Saxon “liberalism”.

Patrice Ayme


What Democracies Should To Do With COVID Right Now (April 1)

April 1, 2020

But this is not a joke…

Concentrate doctors from other provinces onto the province of Hubei enabled China to jugulate the epidemic. So concentrate doctors from unaffected states of the US into the most affected areas. This has to be done, in combination with very tough confinement to block the Coronavirus from exploding in these (so far) safer states… especially as many of their doctors will be sent away to save lives in tragic, severely affected places such as New York City!

In other words, learn from what worked in China, Korea, Hong Kong. To block the virus, one will need to test all, and track all the contacts of the COVIDs, then reinforce considerably the social distancing of these unfortunate souls (as in Singapore). Meanwhile, social confinement should be toughened up right away, precisely because that can be done right away (within hours). That means a much more restrictive notion of “essential services”.

The testing and tracking will take longer to roll out, especially in the most affected areas… Hence testing and tracking should be deployed, first, paradoxically, in the less affected areas, where it will be easier to deploy, and more crucial to deploy, as doctors will be sent away to deal with the most affected zones. 

Yes, all this is tough. But just aiming at flattening the curve will not work. Only trying to suppress the Coronavirus completely will work.

Beautifully Dreadful Exponentials, Or How Representative Democracy Failed

And remember, the reassuring mortality rate given is unsupported by hard evidence. This below is all the hard evidence we have. Speculating that 90% of the cases are undetected (thus lowering the death rate to 1.9%) is PURE SPECULATION. As Trump said, paraphrasing what he really meant:”I am trying to be optimistic, and thus make people calm, in this war. People need to be calm. However if I tried to be pessimistic, I could be more terrible than you reporters can possibly imagine…


Cases which had an outcome: 178,125 (81%)
Recovered / Discharged
DEATHS: 42,334 (19%)
Once again, this 19% is interpreted as less than 1%. That maybe true with a fully functional medical system, just as HIV is no problem with a fully functional immune system. But SARS2 attacks the medical system, just as HIV the immune system…

Felix Pepper, New Zealand @Patrice Ayme: Yes, yes, yes. These are the lessons of what needs to be done. 

It also needs to be done right now, and its not happening. The earlier the changes the bigger the beneficial effects down the road.


@Felix Pepper Agreed Felix, thanks. Why it’s not happening is a case of unreasoned belief in the inherent superiority of the “Representative Democracy” system too much by half. All too many “Westerners” feel superior, from their concept of freedom, to all these Asians who, presumably, are perceived as being dismissive of democracy, just because they don’t enjoy the same time-honored vision of freedom at all and any cost. 

However, the cost benefit analysis has not been made as carefully as it should have been made, should one cling to the highest ethics: is the freedom of NOT tracking the viral infection worth hundreds of thousands dead, and as many with scarred lungs and other chronic ailments? This is the choice Europe and the US have made so far, for all to see. Thus this cultural racism may exact an unbearable price for those who hold it. Precisely because it’s unbearable, it is futile. Indeed, in the end,testing, tracking and strictly confining the COVIDs and their contacts will happen: it’s the only way. And then people will say: too little, too late…

The hubris of the system of governance “our” global plutocracy has installed leaves little room for decency or common sense. This is illustrated by the very fact of this pandemic (it would have been avoided by sustained and sustainable research in fundamental biology), and the way we dealt with it (the isle of Taiwan reacted in December, implementing safeguards before the PRC… and the WHO doesn’t want to talk about it, to its eternal shame…).

When people die, when millions could die, the matter is serious. And because it was entirely avoidable, the system should be more than punished. It should be changed. This is what, pushed by the winds of fate, Trump and his frenemies are doing [1]…

Patrice Ayme



[1] Pelosi and Trump are talking about “Phase 4” stimulus… Another 2 trillion dollars, for infrastructure this time. Stalin and FDR, here we come… and leave you in the dust.

Trump $6.2 TRILLION Fight Against COVID Is Economically Responsible 

March 28, 2020

Finance is a convenient servant to the economy. Finance is not even necessary to the economy, and no economy, no money.  The six trillion dollars signed and negotiated by Trump do two things: 1) and most important, sustain and amplify the essential economy. 2) keep alive the non-essential economy, which would otherwise stop existing (… we can gently ease it out later…) 

The 2.2 Trillion Dollars Coronavirus Aid, Relief, and Economic Security (CARES) Act passed the US Senate 96 to zero (4 Senators were COVID or quarantined). Two days later the US Congress passed it, and Trump, who had helped to negotiate the details, signed it immediately. There were no hearing: all gt together, including Trump, who agreed to much Democratic ideas…

This was the largest financial intervention act of a state in the history of humanity.

The same day, Trump used the Defense Procurement Act, forcing General Motors to produce respirators. Trump added he may use the FPA again, as “we have a couple of little problem children… two companies which are NOT doing what they said they would be doing.  

Some anti-Trumpers screamed to high heavens that Trump was exploding the national debt, and bringing financial ruin to the US. Critics of the 6.2 trillion dollar intervention do not understand how the economy works. In particular, they do not understand the essence of the economy, which is GOVERNMENTALISM. Let me explain.


Big US debt procurement during World War Two was highly profitable to the US… and WORLD, economy… Let alone those who wanted to smash Nazism and other fascisms…

National debt, in a sovereign country acts, potentially, like a future tax, on those wealthy enough to have lent the money, or, potentially, as a future tax on those who received the money… I say debt is a “potential tax”, because reimbursement conditions can, and often, will vary. For example, if money is lent, but not reimbursed, it acts as gift, or theft, depending if one is on the receiving, or donating end. Europeans have acted stupid, ever since the EU was founded, as if they didn’t understand that (but the UK understood it, explaining partly its better economic performance.)

Let me add that this is not the case here; the 6.2 trillions are no augmentation of the national debt (explanation another time). 

What Trump is doing is putting the US economy on life support, while providing massive financing for research and development… and health care: 150 billion dollars for hospitals alone.

Here is an example: CDC Dr. Fauci said industrial fabrication of vaccines will be launched, even while one can’t know yet if those vaccines will work, or even if those vaccines do not launch the dreared “IMMUNE ENHANCEMENT”… that is during Phase 2 trials; that will be costly as perhaps two dozen vaccines are being developed (using sometimes extremely different methods: the Pasteur institute is using its usual method to see if its hybrid coronavirus-brucellosis is safe on mice and soon primates… While Sanofi will further push a 2017 “prototype” SARS vaccine using recombinant tech; several RNA vaccines are already in human trials, testing for basic safety…)     

A nominal increase in national debt acts as real free money for now.. And a potential, just potential, tax. I say potential, because, for a country of Argentina and if the money has been lent by foreigners, one may have to pay back part of it… But if one is the USA, one doesn’t have to pay any of one’s debt. Especially to foreigners. If foreigners don’t like it, they should feel happy to have lend so much money to such a superpower

One of the reason the European economy has stagnated is that it has insisted to inflict high taxes on citizens, instead of much more forgiving debt (which growth can erase; so debt enables and incites a sovereign country to grow faster…)

As it is, moreover, Trump’s two trillion is not necessarily a debt. And it’s actually six trillion dollars. 

Japan has a national (“Federal”) debt in excess of 200% of GDP. On March 27, it had only 49 deaths from Coronavirus, out of 1,700 cases, with a (so far) completely flattened curve, and a death rate per million not even one tenth that of the USA. In general the Japanese economy had not been doing badly with that debt… maintaining, for example a first class universal health system…. At a time when the USA is demonstrating, for the whole world to see, that a profit guided health system is a colossal disaster. Indeed, soon the USA may have much more than a million Coronavirus cases, and that will be imputable in part to not have been willing to spend more on healthcare (instead of spending on the billionaires who profit from US healthcare).  

The Federal government created two trillion dollars as direct help with CARES. To this one has to add 4 trillions of the US Federal Reserve at the disposal of banks through leverage (to start with; the Fed has said it will create whatever money is needed). None of this money is really debt. At most it means part of the US economy is getting nationalized (the average citizen becomes a shareholder).


Take four cases I personally know of:

Picture a 500 rooms/apartments hotel/resort without any revenue for the rest of the year. It’s a “family business”. It has employees, pays their healthcare 100%. It’s at 7,000 feet, it has large fixed cost in heating, security, maintenance. And revenue is now zero. And will stay so for many months. What to do? A bank loan! But where does the bank get the money from? The Federal Reserve, which lends it at zero interest!

Picture my climbing gym. Actually a company with a dozen climbing gyms, with course setters, maintenance, staff, and paying 100% health care. Same story as the preceding.

Third example: a research institute in AI getting its money from corporations with now zero revenue. They said they were firing all their scientists, effective in June. The Trump administration is stepping in.   

Fourth example: Several science museums I know. There is money for them in the two trillions. Trump himself explained the Kennedy Center for the Arts needed 25 millions to pay salaries, maintenance (the Dems wanted 35 millions initially). 



What is important is that expertise not be lost. OK, a bit of expertise lost in completely useless parts of the economy will be OK… But futuristically essential services should be maintained. For example in teaching, research, industrial base. 

The mightiest states are always living with fiat money. The Inca were using knots on ropes. The very fact a state can impose fiat money is an expression of its power. As it is, there is going to be a hole of one third of GDP, because one third of all transactions in one year will not happen. So the state making it so that it will appear these transactions did happen… Even if they didn’t. 

Debt, left unpaid, means some people with excess capital may be cheated on. But debt, left unpaid, can save an economy. What is it not to like? I always said that Trump, as his chronology and behavior indicates, was truly a real Democrat (aka a “populist”… despised by the haves). TARP, organized by Obama, was truly a Transfer of Assets to Rich People. Whereas CARES has tight oversight, and pays the average family (which TARP didn’t do). CARES is the right thing to do. The alternative was a depression worse than 1929.

This virus crisis is an excellent occasion to find out how the economy works. First, one can see that 90% of the economy, or so, is useless. One can also see that the essential part of the economy, including scientific research, advanced, life saving technology, is underfinanced.

In Italy, some medical workers get paid less than $1,000 a month. Yes, less than a thousand dollars, and now the opportunity to die. But then they were honored by watching on TV brainless muscle guys paid more than one hundred million a year, just to hit a ball with their foot.

Ironically enough, the USA, and the world, is lucky that the US President is a specialist of saving (his won!) value through bankruptcy (ironically yours truly saw this, at the time, as corruption… Meanwhile, though, we have seen much bigger corruption than that…

CARES is bringing in money, as needed. Trump is ordering around General Motors, as, unfortunately, needed. This is a war. War can be good.  Universal health care systems in Europe were created thanks to the shock of World War Two. Coronavirus is the bellicose occasion we needed to reorganize the world economy in a more essential way.

Patrice Ayme