LISTEN: PAINE in the Morning — News Scoops & Analysis for Thursday 5.28.20

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Democrats Are Actively Rooting For Economic Collapse – Democrats are actively hoping for the economy to continue to collapse so that presumptive Democrat presidential nominee Joe Biden and beat President Donald Trump in November.

In an article titled, “The general election scenario that Democrats are dreading,” Politico reported that multiple Biden campaign officials and Democratic strategists are dismayed at the possibility of an economic boom in the months before the presidential election. The coronavirus pandemic caused much of the country to shut down, which has led to the highest number of people filing for unemployment since the Great Depression. – READ MORE


Taxpayers paid to develop remdesivir but will have no say when Gilead sets price – The drug that buoyed expectations for a coronavirus treatment and drew international attention for Gilead Sciences, remdesivir, started as a reject, an also-ran in the search for antiviral drugs. Its path to relevance did not begin until Robert Jordan cleared it.

A Gilead scientist at the time, Jordan convinced the company seven years ago to let him assemble a library of 1,000 castoff molecules in a search for medicines to treat emerging viruses. Many viral illnesses threaten human health but do not attract commercial interest, because they lack potential for huge drug sales. – READ MORE


Fed: Many workers don’t want to come back to their jobs – Mass unemployment that has accompanied the coronavirus pandemic has been compounded by people who don’t want to come back to work, the Federal Reserve said Wednesday in its periodic summary of the national economy.

With the unemployment rate through April at a post-World War II record 14.7% and 20.5 million layoffs during the month, workers are reluctant to head back to their jobs for a number of reasons, the central bank noted in its “Beige Book” report. – READ MORE


New study: Lockdowns destroy nearly twice as many years of life as the coronavirus –Four professors with backgrounds ranging from medicine to economics attempted to quantify the number of lives lost from the devastation of the lockdown itself

Using health and labor data as well as various actuarial tables, they projected 65,000 lives lost per month of lockdown in the U.S. – greater than the loss from the virus. That number was calculated by dividing the estimated $1.1 trillion lost from economic productivity per month of lockdown by $17 million because the best estimates predict one life lost from suicide, alcohol or drug abuse, or stress-induced illnesses per $17 million lost. – READ MORE


Twitter exec in charge of effort to fact-check Trump has history of anti-Trump posts, called McConnell a ‘bag of farts’ – Twitter’s “Head of Site Integrity” Yoel Roth boasts on his LinkedIn that he is in charge of “developing and enforcing Twitter’s rules,” like the one that led Twitter to slap a new “misleading” warning label on two of President Trump’s tweets concerning nationwide mail-in balloting on Tuesday.

However, Roth’s own barrage of anti-Trump, politically charged tweets seemingly calls into question whether he should be creating guidelines for the president and other Twitter users, especially when Twitter is under fire for its alleged left-wing bias. – READ MORE

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