The Warp Speed Push for Coronavirus Vaccines | New Eastern Outlook


18-05-20 08:40:00,


The US White House has appointed a coronavirus “Vaccine Czar” from Big Pharma to oversee something dubbed Operation Warp Speed. The goal is to create and produce 300 million doses of a new vaccine to supposedly immunize the entire US population by year-end against COVID-19. To be sure that Big Pharma companies give their all to the medical Manhattan Project, they have been fully indemnified by the US government against liabilities should vaccine recipients die or develop serious disease as a result of the rushed vaccine. The FDA and NIH have waived standard pre-testing on animals in the situation. The US military, according to recent remarks by the US President, is being trained to administer the yet-to-be unveiled vaccine in record time. Surely nothing could go wrong here?

Warp speed is a term out of the sci-fi Star Trek media, defined as a speed faster than the speed of light. In recent weeks billions of dollars have been pledged from governments, from the Bill and Melinda Gates Foundation and others to fast-track a vaccine as well as test medical treatments to combat the VODIV19 illness said to originate from a novel coronavirus first discovered late 2019 in Wuhan China. This rush to create a “miracle” vaccine is ominous and suggests some hidden agenda.

The Conflicted Czar

Washington’s Operation Warp Speed is reportedly the brainchild of Presidential Adviser and son-in-law Jared Kushner. It is being formally run by the Health and Human Services Secretary Alex Azar and Defense Secretary Mark Esper who will work with a new Vaccine Czar. The Vaccine Czar selected for Kushner’s Operation Warp Speed is former GlaxoSmithKline Chairman of its Vaccines Division, Morrocan-born US citizen, Dr. Moncef Slaoui. From 2006 through 2017 Slaoui was Chairman of Global R&D and Vaccines at GlaxoSmithKline and sat on the company’s Executive team and Board of Directors.

While at GSK Slaoui headed the development of Cervarix. Its Cervarix HPV cervical cancer vaccine was reported tied to multiple deaths or severe crippling effects in many recipients. A 2017 WHO monitoring report revealed that serious adverse effects from Moncef Slaoui’s HPV vaccine included complex regional pain syndrome (CRPS), postural orthostatic tachycardia syndrome (POTS) and chronic fatigue syndrome (CFS) that “exceeds any other vaccine.” That is not reassuring in terms of the new Czar of a rushed coronavirus vaccine.

 » Lees verder

“The Speed Of Business Erosion Is Unprecedented”: Goldman Sees S&P Dropping To 2,000, Cuts EPS By 33%


23-03-20 11:20:00,

We were curious what Goldman’s hilariously optimistic market strategist David Kostin, who until Friday was confident that the S&P would still end the year at 3,200, would do with the news from his economist team that GDP in Q2 would fall by a depressionary 24%. We got the answer late on Friday when after two consecutive EPS cuts, Kostin published his latest Weekly Kickstart note with the appropriate title “The third cut is the deepest” in which he said that he is now “Slicing 2020 S&P 500 EPS forecast to $110, a 33% decline from last year.”

Some more details on Goldman taking the proverbial machete to its EPS outlook:

We now forecast S&P 500 EPS of $110 in 2020, a decline of 33% from 2019. On a quarterly basis, this reflects year/year growth of -15%, -123%, -21% and +27% (Exhibit 1).

We have cut our 2020 earnings forecast three times in 30 days (-37% in total) as the magnitude of the economic slowdown has become increasingly apparent. Our economists have incorporated similar expectations into their revised annual average US GDP growth forecast of -4% in 2020, including –24% annualized growth in 2Q. At the sector level, we expect large declines in Energy, Consumer Discretionary (e.g., Cruises, Hotels, Restaurants), and Industrials (e.g., Airlines). On the other hand, stockpiling may partially insulate Consumer Staples EPS.

Of course, it is easy to mock Goldman’s chronic optimism – which for the past decade has failed to aknowledge the explicit role of central banks in keeping this historic asset bubble inflated – what we find even more amusing is Kostin’s shock at how quickly market, and for that matter society, appears to be unwinding:

It is incredible how much can change in one month. On February 19th, the S&P 500 reached an all-time high of 3386, Senator Bernie Sanders was the front-runner to win the 2020 Democratic nomination, and investors were evaluating the extent to which the novel coronavirus would create supply chain disruptions. One month and one day later, the S&P 500 sits 32% lower, former Vice President Joe Biden has a large delegate lead, and people around the world are now isolated in their homes.

Each day contains a month’s worth of market news.

 » Lees verder