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When will there be a coronavirus vaccine? 5 questions answered

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When will there be a coronavirus vaccine? 5 questions answered

A security guard wears a mask as she keeps watch at arriving passengers at Manila’s international airport in the Philippines on Jan. 23, 2020, as part of efforts to contain the coronavirus. Aaron Favila/AP Photo

Courtesy of Aubree Gordon, University of Michigan and Florian Krammer, Icahn School of Medicine at Mount Sinai

Editor’s note: The coronavirus that started in Wuhan has sickened more than 4,000 people and killed at least 100 in China as of Jan. 27, 2020. Thailand and Hong Kong each have reported eight confirmed cases, and five people in the U.S. have been diagnosed with the illness. People are hoping for a vaccine to slow the spread of the disease.

Is there a vaccine under development for the coronavirus?

Work has begun at multiple organizations, including the National Institutes of Health, to develop a vaccine for this new strain of coronavirus, known among scientists as 2019-nCoV.

Scientists are just getting started working, but their vaccine development strategy will benefit both from work that has been done on closely related viruses, such as SARS and MERS, as well as advances that have been made in vaccine technologies, such as nucleic acid vaccines, which are DNA- and RNA-based vaccines that produce the vaccine antigen in your own body.

Was work underway on this particular strain?

No, but work was ongoing for other closely related coronaviruses that have caused severe disease in humans, namely MERS and SARS. Scientists had not been concerned about this particular strain, as we did not know that it existed and could cause disease in humans until it started causing this outbreak.

How do scientists know when to work on a vaccine for a coronavirus?

Work on vaccines for severe coronaviruses has historically begun once the viruses start infecting humans.

Given that this is the third major outbreak of a new coronavirus that we have had in the past two decades and also…
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A secret reason Rx drugs cost so much: A global web of patent laws protects Big Pharma

 

A secret reason Rx drugs cost so much: A global web of patent laws protects Big Pharma

Advocates for lower drug prices held a vigil on Sept. 5, 2019 outside of Eli Lilly in New York City, honoring those who have lost their lives due to the high cost of insulin. Eric McGregor/LightRocket via Getty Images

Courtesy of Faisal Chaudhry, University of Dayton

The high price of insulin, which has reached as much as US$450 per month, has raised outrage across the country. Sen. Bernie Sanders (I-Vt.) has called it a national embarrassment, wondering why U.S. residents should have to drive to Canada to buy cheaper insulin.

As a legal scholar who focuses on the contradictory role of property rights on economic well-being, including through the role of intellectual property rights, my research makes it clear that drug pricing is far more complicated than any candidate on the debate stage has time to explain.

To fully understand these complexities requires looking at a web of international patent law and trade agreements.

Insulin was discovered almost 100 years ago, saving the lives of many people with diabetes. Its soaring costs in recent years has brought outcries from patients and politicians. John Fredricks/NurPhoto via Getty Images

Why no generic insulin?

Scientists working in Canada’s public sector discovered insulin nearly a century ago. The first techniques for synthesizing the compound, which should have more readily allowed for the production of generic versions, emerged some four decades ago. Yet today insulin remains unavailable in any significant generic version.

One of the three companies that control 90% of the world insulin market, Eli Lilly, recently did bow to public pressure by announcing a forthcoming “authorized generic” version called Lispro. But that could still run some people $140 per prescription.

U.S. consumers are not alone in facing high prices of insulin and other life-saving drugs. For the last two decades, intense controversy has raged around multinational pharmaceutical giants being able to monopolize access to vital medicines the world over.…
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What Long Term Investors Can Learn From Traders

 

What Long Term Investors Can Learn From Traders

Courtesy of 

 

 

Josh recently met up with Scott Redler at the New York Stock Exchange to discuss moving averages, and trading vs investing. Scott is the Chief Strategic Officer at T3 Live.

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After the trial’s over, President Trump’s impeachment battles could determine who holds real power in the US government

 

After the trial's over, President Trump's impeachment battles could determine who holds real power in the US government

Cases related to the Trump impeachment may end up at the Supreme Court. ZACH GIBSON/AFP via Getty Images

Courtesy of Barbara L. McQuade, University of Michigan

The legal and constitutional battles sparked by President Trump’s behavior could affect how the U.S. government works for generations, long after the impeachment trial is over.

After the last Senate staffer turns out the lights, major questions remain to be decided outside of the Capitol about the limits of presidential power, the willingness of courts to decide political questions and the ability of Congress to exercise effective oversight and hold a president accountable.

Here are three of those questions.

What are the limits of presidential power?

First, the aggressive exercise of executive power by Trump has put this power under court scrutiny.

Trump’s vow to “fight all the subpoenas” breaks from the traditional process – negotiation and accommodation – that previous presidents have used to resolve disputes between branches of the government.

President Trump in the Roosevelt Room of the White House on Jan. 9, 2020. Drew Angerer/Getty Images

As a result, several cases are currently pending, including a legal challenge brought by the House Judiciary Committee to compel the testimony of Don McGahn, Trump’s former White House counsel. The House had sought McGahn’s testimony about Trump’s alleged obstruction of justice in the investigation of special counsel Robert Mueller into Russian election interference.

McGahn challenged the subpoena issued by the Judiciary Committee on the grounds of absolute immunity, arguing that he – a close aide to the president, and a member of the co-equal executive branch – need not appear before Congress to answer questions at all.

U.S. District Judge Ketanji Brown Jackson rejected this argument, saying that while McGahn could possibly assert executive privilege about individual questions, he could not refuse to appear altogether.

Executive privilege is not specified in the Constitution. But the Supreme Court…
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Citizens United: The Court Ruling That Sold Our Democracy

 

Citizens United: The Court Ruling That Sold Our Democracy

Ten years after Citizens United, the damage is broad and deep—but we can still fix it.

 
With so many politicians in the pockets of their big donors, it’s been even harder to make progress on issues like gun safety, health care costs, or climate change. (Photo: DonkeyHotey/Flickr)

With so many politicians in the pockets of their big donors, it’s been even harder to make progress on issues like gun safety, health care costs, or climate change. (Photo: DonkeyHotey/Flickr)

Ten years ago, in January 2010, the Supreme Court released its disastrous Citizens United decision. The court, either through remarkable naivety or sheer malevolence, essentially married the terrible idea that “money is speech” to the terrible idea that “corporations are people.”

The ruling put a for sale sign on our democracy, opening up a flood of corporate, special interest, and even foreign money into our politics.

Through Citizens United and related decisions, the Court made a bad situation worse. We saw the proliferation of super PACs, which can accept and spend unlimited amounts of money to influence elections, and the rise of dark money, which is undisclosed political spending that can come from any special interest, including foreign countries.

One-fifth of all super PAC donations in the past 10 years have come from just 11 people.

In the 10 years since the decision, there’s been $4.5 billion in political spending by outside interest groups, compared to $750 million spent in the 20 years prior to the case.

From 2000-2008, there were only 15 federal races where outside spending exceeded candidate spending. In the same amount of time following Citizens United, this occurred in 126 races. Now, almost half of all outside spending is dark money that has no or limited disclosure of its donors.

That money isn’t coming from the farmers suffering through Donald Trump’s trade war or the fast-food workers fighting for a living wage. It’s coming from the wealthiest donors, people often with very different


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“Smart Money”? – Hollywood Celebs And Sports Icons Got Crushed In Mattress-Maker Casper

Courtesy of ZeroHedge

"Smart money" investors, such as some Hollywood actors and sports icons, are linked up with top VC firms and investment banks, have been stung by the VC bubble of overinflated unicorns that see a valuation collapse right before IPO. 

Think WeWork, and what happened to the office-sharing space company last fall, it's valuation plunged as it attempted to IPO. The company then ran out of money and was bailed out by its largest shareholder, SoftBank. 

Leonardo DiCaprio and rapper 50 Cent have been the latest "smart money" investors to feel the pain of plunging valuations, after their investments in Casper Sleep Inc., an online mattress retailer, saw valuations fall as it attempts to IPO. 

Reuters notes that the unicorn mattress company will issue 9.6 million shares between the $17 to $19 level, which is at the top part of the range, giving the company $182.4 million in IPO proceeds. Such a level would also give the company a $768 million valuation, or about a -23% drop in book value from its latest funding round. 

In 1Q19, the money-losing company was valued at $1.1 billion, which is a -30% decline in today's valuation versus what was seen early last year. 

We noted since WeWork imploded last fall, investors' risk appetite for money-losing companies has collapsed. This has also marked the top of not just the VC bubble, but also the IPO bubble

"Valuations in the private market are currently under the microscope, especially with unicorns, as they attempt to tap the public markets," said Jeff Zell, a senior research analyst at IPO Boutique.

"The biggest hurdle that Casper Sleep is going to have during the roadshow process is proving to investors a viable path to profitability while competing in a highly competitive industry," Zell said. 

Even "smart money" in Hollywood is feeling the pressure as the bubble of everything deflates. 





Citibank, Which Foreclosed on Homes Under an Alias, Illegally Held Homes Off the Market for More than Five Years Says Regulator

Courtesy of Pam Martens

Michael Corbat, CEO of Citigroup Since 2012

Michael Corbat, CEO of Citigroup Since 2012

On October 11 of last year, in a bland press release that drew little mainstream media attention, the Federal regulator of national banks, the Office of the Comptroller of the Currency, announced that Citibank had agreed to pay a $30 million fine over charges that it held homes on which it had foreclosed off the market for more than the statutory holding period of five years. Citibank is the federally-insured, deposit-taking bank that is part of the serially-miscreant Wall Street mega bank, Citigroup.

The action comes at a time when rents are rising dramatically across the U.S. as a result of a shortage of affordable homes to purchase.

What is extremely troublesome about the OCC’s action, and which continues a trend among federal bank regulators in the Trump administration, is just how little the regulators are willing to share with the American people in terms of facts about the continuing illegal conduct of these mega Wall Street banks. That obfuscation comes simultaneously with the Trump administration’s efforts to further deregulate these serially-charged behemoths.

The OCC Consent Order in this case says only that it involved “over 200 violations alone between April 4, 2017 and August 14, 2019.” But Citigroup/Citibank foreclosed on thousands of homes during and after the financial crash in 2008, often using an alias of Liquidation Properties, Inc., which it hid its connections to. The OCC Consent Order suggests that the bank only held hundreds of homes illegally off the market. But if the OCC had gone back further in time, would the number be in the thousands? And just how long were the homes kept off the market after Citibank foreclosed? Was it six years or ten years or 15 years? The OCC is silent on these critical points.

We broke the story in 2009 about how Citigroup/Citibank was conducting its foreclosures during the financial crisis under the alias of Liquidation Properties, Inc. (LPI). While LPI had made filings in U.S. District Courts and with Secretaries of State attesting that it was not a “party, a parent, a subsidiary or other affiliate of a publicly owned corporation,” Citigroup’s December 31,…
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Coronavirus outbreak: WHO’s decision to not declare a global public health emergency explained

 

Coronavirus outbreak: WHO's decision to not declare a global public health emergency explained

Masks are selling out in Singapore amid concerns about the Wuhan virus. Ng Sor Luan/EPA

Courtesy of Tom Solomon, University of Liverpool

The World Health Organization’s decision to not declare the novel coronavirus outbreak in China a public health emergency of international concern, or PHEIC, will surprise many. The number of reported cases and deaths is doubling every couple of days, and patients have now been reported from many Asian countries, as well as the Middle East, Europe, Australia and the US.

You might wonder how bad things have to get before this is deemed to be a global public health emergency. But such declarations by the WHO are not taken lightly, as Tedros Adhanom Ghebreyesus, director general of the World Health Organization (WHO) explained in the press conference.

The concept of the WHO declaring global public health emergencies first arose after the 2003 Sars coronavirus outbreak. As with the current outbreak, it started in a live animal market where the spread of infected excrement to humans allowed the virus to cross the species barrier. But unlike the current situation, the Sars epidemic was growing for many months in China before authorities admitted they had a problem. By the time the Sars outbreak was brought under control, there were over 8,000 cases and 700 deaths in 37 countries.

The WHO decided that declaring a PHEIC, introduced as part of the 2005 International Health Regulations, would help manage these situations.

Previously, under legislation that was 150 years old, cholera, plague and yellow fever were contained by quarantine and embargoes at a country’s borders. The 2005 legal framework focuses on containing an outbreak at its source, with an emphasis on preparedness. It requires countries to maintain necessary “core capacities”, such as the ability to diagnose infections and isolate infected patients. And rather than only being able to report specific known diseases, they can report unusual public health patterns, for example an unexpected increase in patients with severe respiratory symptoms.

A PHEIC is declared when there is “an extraordinary event which is determined … to constitute a…
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Animal Spirits: Short Squeeze

 

Animal Spirits: Short Squeeze

Courtesy of 

(This article was originally posted on 1-22-20.)

Today’s Animal Spirits is brought to you by YCharts. Mention Animal Spirits to receive 20% off (*New YCharts users only)

On today’s show we discuss:

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How CEOs, experts and philosophers see the world’s biggest risks differently

 

How CEOs, experts and philosophers see the world's biggest risks differently

Activist Greta Thunberg was among attendees who want the world’s leaders to prioritize fighting climate change. AP Photo/Michael Probst

Courtesy of Christopher Michaelson, University of St. Thomas

We live in a world threatened by numerous existential risks that no country or organization can resolve alone, such as climate change, extreme weather and the coronavirus.

But in order to adequately address them, we need agreement on which are priorities – and which aren’t.

As it happens, the policymakers and business leaders who largely determine which risks become global priorities spent a week in January mingling in the mountainous resort of Davos for an annual meeting of the world’s elite.

I participated in a global risk assessment survey that informed those at the Davos summit on what they should be paying the most attention to. The results, drawn from experts in a broad range of disciplines including business, happen to be very different from what company CEOs specifically see as the biggest threats they face.

As a philosopher, I found the differences curious. They highlight two contrasting ways of seeing the world – with significant consequences for our ability to address societal risks.

Wildfires in Australia have destroyed more than 3,000 homes and razed more than 10.6 million hectares since September. AP Photo/Noah Berger

Two perspectives on the biggest risks

The World Economic Forum’s Global Risk Report consolidates the perceptions of about 800 experts in business, government and civil society to rank “the world’s most pressing challenges” for the coming year by likelihood and impact.

In 2020, extreme weather, a failure to act on climate change and natural disasters topped the list of risks in terms of likelihood of occurrence. In terms of impact, the top three were climate action failure, weapons of mass destruction and a loss of biodiversity.

The specific perspective of corporate leaders, however, is captured in another survey that highlights what they perceive as the biggest risks to their…
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Kimble Charting Solutions

Will Junk Bonds Continue To Send A Positive Message To Stocks?

Courtesy of Chris Kimble

If the saying “So goes Junk Bonds, So goes stocks” is true, what Junk bonds do in the next couple of weeks could send an important message to stocks!

Junk bond ETF (JNK) has created a series of higher lows since June of last year. When JNK moves higher like this, historically it sends a positive message to stocks.

JNK has declined a very small percentage in the past two weeks, which has it testing rising support at (1).

So far JNK is not sending a negative divergence to stocks.

If JNK holds at support and rallies off (1), they continue to send a ...



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Zero Hedge

Could The Coronavirus Epidemic Be The Tipping Point In Supply Chain Leaving China?

Courtesy of ZeroHedge View original post here.

Authored by Charles Hugh Smith via OfTwoMinds blog,

Everyone expecting a quick resolution to the epidemic and a rapid return to pre-epidemic conditions would be well-served by looking beyond first-order effects.

So the media's focus is the first-order consequences: the number of infecte...



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Insider Scoop

A Peek Into The Markets: US Stock Futures Up; Fed Decision In Focus

Courtesy of Benzinga

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from McDonald's Corporation (NYSE: MCD), General Electric Company (NYSE: GE), AT&T Inc. (NYSE: T) and Th...



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Phil's Favorites

When will there be a coronavirus vaccine? 5 questions answered

Reminder: We are available to chat with Members, comments are found below each post.

 

When will there be a coronavirus vaccine? 5 questions answered

A security guard wears a mask as she keeps watch at arriving passengers at Manila’s international airport in the Philippines on Jan. 23, 2020, as part of efforts to contain the coronavirus. Aaron Favila/AP Photo

Courtesy of Aubree Gordon, University of Michigan and Florian Krammer, ...



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Biotech

When will there be a coronavirus vaccine? 5 questions answered

Reminder: We are available to chat with Members, comments are found below each post.

 

When will there be a coronavirus vaccine? 5 questions answered

A security guard wears a mask as she keeps watch at arriving passengers at Manila’s international airport in the Philippines on Jan. 23, 2020, as part of efforts to contain the coronavirus. Aaron Favila/AP Photo

Courtesy of Aubree Gordon, University of Michigan and Florian Krammer, ...



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Chart School

Top Patterns for Retail Investors

Courtesy of Read the Ticker

Retail investors are last in line for market leading research, no matter, the retail investor can profit from these secret sauce patterns..

Well not so secret now, the main point is you do not have to climb Mount Everest to be called a mountain climber, there are many other hills to climb to make your mark. Just like stocks.

You do not have to battle with the high frequency traders to win in the markets, there are long and slow methods to do just as well.  

More from RTT Tv







Some charts from the video


...

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The Technical Traders

The Wuhan Wipeout - Could It Happen?

Courtesy of Technical Traders

News is traveling fast about the Corona Virus that originated in Wuhan, China. Two new confirmed cases in the US, one in Europe and hundreds in China. As we learn more about thispotential pandemic outbreak, we are learning that China did very little to contain this problem from the start. Now, quarantining two cities and trying to control the potential
outbreak, may become a futile effort.

In most of Asia, the Chinese New Year is already in full swing.  Hong Kong, China, Singapore, Malaysia, India and a host of other countries are already starting to celebrate the 7 to 10 day long New Year.  Millions of people have already traveled hundreds of thousands of miles to visit family...



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Members' Corner

The War on All Fact People

 

David Brin shares an excerpt from his new book on the relentless war against democracy and how we can fight back. You can also read the first, second and final chapters of Polemical Judo at David's blog Contrary Brin.

The War on All Fact People 

Excerpted from David Brin's new book, the beginning of chapter 5, Polemical Judo: Memes...



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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Digital Currencies

Cryptos Have Surged Since Soleimani Death, Bitcoin Tops $8,000

Courtesy of ZeroHedge View original post here.

Bitcoin is up over 15% since the assassination of Iran General Soleimani...

Source: Bloomberg

...topping $8,000 for the first time since before Thanksgiving...

Source: Bloomberg

Testing its key 100-day moving-average for the first time since October...

...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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