LISTEN: PAINE in the Morning — News Scoops & Analysis for Monday 5.4.20

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Here Are The Key Findings From The Bombshell Government Dossier On China’s Bat Virus Program –  A leaked dossier compiled by Western intelligence agencies concludes that China lied and deliberately suppressed or destroyed evidence during the crucial early days of the COVID-19 outbreak, and notes that Chinese researchers have been experimenting with – and creating – deadly bat coronaviruses.

Here are key findings from the 15-page report compiled by Western governments known as the ‘Five Eyes,’ according to Australia’s Daily Telegraph. – READ MORE


U.S. beef output is down way more than shutdowns suggest –American beef output is down a lot more than plant closures would have you believe — a sign that slowdowns at facilities will continue to keep meat supplies tight even when some production lines reopen.

Cattle slaughter dropped 37% this week from a year ago, U.S. Department of Agriculture data show. That far outstrips the 10% to 15% in capacity that’s been halted with meat plants closed after coronavirus outbreaks among employees. Hog slaughter was down 35%, also topping the shutdown figure of 25% to 30%. – READ MORE


Survey Finds 50 Million Americans Have Lost Their Job In Past 6 Weeks – When Thursday’s initial claims report is published at 830am on Thursday, the Dept of Labor will confirm that the current depression is unlike any seen before, with approximately 30 million Americans losing their jobs in the past 6 weeks alone. That, however, may be underestimating the full number of Americans who have lost their jobs by as much as 50%.

According to an online poll by the left-wing Economic Policy Institute, millions of Americans who have been thrown out of work during the coronavirus pandemic have been unable to register for unemployment benefits. The poll found that for every 10 people who have successfully filed unemployment claims, three or four people have been unable to register and another two people have not tried to apply at a time of acute economic crisis. – READ MORE


Public companies received $1 billion in stimulus funds meant for small businesses –Publicly traded companies have received more than $1 billion in funds meant for small businesses from the federal government’s economic stimulus package, according to data from securities filings compiled by The Washington Post.

Nearly 300 public companies have reported receiving money from the fund, called the Paycheck Protection Program, according to the data compiled by The Post. Recipients include 43 companies with more than 500 workers, the maximum typically allowed by the program. Several other recipients were prosperous enough to pay executives $2 million or more. – READ MORE


IRS mistakenly sends stimulus checks to foreign workers –Thousands of foreign workers, many living overseas, are receiving stimulus checks designated for U.S. residents due to an unforeseen glitch that funneled taxpayer dollars to other countries, according to tax consultants and the recipients themselves.

College-age workers who spent time in the U.S. in the last two years — some of whom returned home long before the coronavirus pandemic — have been surprised to find $1,200 checks deposited into their bank accounts. And with no clear guidance on how to return it, they’re holding onto the money or racing to spend it before the Internal Revenue Service realizes the mistake. – READ MORE


University Of Texas Under Investigation For Working With Wuhan Laboratory –The Department of Education is probing the University of Texas System’s dealings with an infectious diseases laboratory in Wuhan, China.

The Wuhan lab is a suspected source of the coronavirus that has infected millions of people and killed hundreds of thousands. The virus has also prompted large-scale shutdowns of the world’s economy and initiated a global recession. – READ MORE


Coronavirus: Amid New York’s unused hospital beds and ventilators, critics point to mass waste and mismanagement –While New York has weathered the brunt of coronavirus infections and deaths, the state’s apparent hoarding of medical supplies, and the millions spent on equipment that never arrived, as well as unused hospitals and beds, have some questioning what went wrong.

Early to mid-March projections of the spread of COVID-19 had the state scrambling to bolster its hospital bed capacity to more than double its 53,000 maximum status-quo. Subsequently, hospitals statewide were ordered to discharge patients to free up beds, and forced to add new ones as non-emergency procedures were canceled. – READ MORE


Association Of American Physicians Says ‘Trump-Touted’ Drug Has 90% Chance Of Helping COVID-19 Patients – In a letter to Gov. Doug Ducey of Arizona, the Association of American Physicians and Surgeons (AAPS) presents a frequently updated table of studies that report results of treating COVID-19 with the anti-malaria drugs chloroquine (CQ) and hydroxychloroquine (HCQ, Plaquenil®).

To date, the total number of reported patients treated with HCQ, with or without zinc and the widely used antibiotic azithromycin, is 2,333, writes AAPS, in observational data from China, France, South Korea, Algeria, and the U.S.

Of these, 2,137 or 91.6 percent improved clinically. – READ MORE

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