Blacks Truly Do Hate Ni**ers - But "Black Privilege" Is As Preoposterous As "Gynocracy"

wsws |  Intended as a pilot for a potential full-length series, Black & Privileged is set in a neighborhood on Chicago’s south side. Upon its July release on Netflix, the film reached the top 10 most-viewed list on the streaming platform and has been featured prominently at a number of award ceremonies focused on African-American filmmaking.

While in reality a seriously impoverished community, the fictionalized version of Englewood in Black & Privileged is a well-off neighborhood whose residents are mostly upper-middle class African-American businessmen and women. One of the film’s central characters explains, in regard to the neighborhood’s composition, “We searched through the city of Chicago for folks who not only cared about this community, but they cared about the people. And they had to understand the value of money. So yes, we have our own schools, we have our own banks, we hired our own police force.”

In Harris’s film, the lives of Englewood’s happy residents are disrupted when a nearby housing project is torn down, causing low-income blacks to turn up in the wealthy gated community. This sets off an existential crisis among the well-heeled African Americans.

“If this happens, like, everybody’s going to leave—the doctors, the lawyers, entrepreneurs like myself … They’re all gone,” warns Eldon (Hendrix), on learning the unsettling news. The prosperous, self-deluded denizens of Engelwood ludicrously choose to interpret the influx of lower-income people as a scheme hatched by the “the [white] man” to break up their idyllic community.

Black and Privileged is at its best when it skewers the self-righteousness and hypocrisy of these layers. Another main character, Dawn (Halfkenny), initially supportive of the new neighbors, quotes W.E.B. DuBois: “To be a poor man is hard, but to be a poor race in a land of dollars is the very bottom of hardships.” She insists it is the community’s job to lend a “helping hand” to these poor souls. Her enthusiasm turns to panic and hostility overnight, however, when she discovers her new neighbors “standing in the middle of the street drinking 40-ouncers.” Dawn demands that her husband (Henderson) call the police on the new residents!

Controlaspecies: Just Let It Happen...,

alt-market |  Back in 2014 during the Ebola scare in the US I published an article warning about how a global pandemic could be used by the elites as cover for the implementation of an economic collapse as well as martial law measures in western nations. My immediate concern was the way in which a viral outbreak could be engineered or exploited as a rationale for a level of social control that the public would never accept under normal circumstances. And this could be ANY viral outbreak, not just Ebola. The point is the creation of an “invisible enemy” that the populace cannot quantify and defend itself against without constant government oversight.

I noted specifically how the government refused to apply air travel restrictions in 2014 to nations where the outbreak had taken hold when they could have stopped the spread in its tracks. This is something that was done again in 2020 as the UN's WHO and governments including our government in the US refused to stop air travel from China, pretending as if it was not a hot zone and that the virus was nothing to worry about.

This attitude of nonchalance serves a purpose. The establishment NEEDS the pandemic to spread, because then they have a rationale for strict controls of pubic activities and movements. This is the end goal. They have no care whatsoever for public health or safety. The end game is to acquire power, not save lives.  In fact, they might prefer a higher death count in the beginning as this would motivate the public to beg for more restrictions in the name of security.

Authorities went from downplaying the outbreak and telling people not to bother with preparations like purchasing N95 masks, to full blown crisis mode only weeks later. In January Trump initially claimed he "trusted" the data out of China and said that "everything was under control"; as usual only a couple months down the road and Trump flip-flopped on both assertions.  The World Health Organization refused to even label this outbreak a "pandemic" until the virus was entrenched across the globe.  The question people will ask is, was this all due to incompetence, or was it social engineering?

The Ebola event six years ago seems to have been a dry run for what is happening today.  I believe it is entirely deliberate, and I will explain why in this article, but either way, governments have proven they cannot be trusted to handle the pandemic crisis, nor can they be trusted to protect the people and their freedoms.

At the same time, the pandemic itself is tightly intertwined with economic collapse. The two events feed off one another. The pandemic provides perfect cover for the crash of the massive debt bubble central banks and international banks have created over the years. I noted in February that the global economy was crashing long before the coronavirus ever showed up.  At the same time, economic chaos increases 3^rd world conditions within each country, which means poor nutrition and health care options that cause more sickness and more deaths from the virus. As outlined in 2014:

“Who would question the event of an economic collapse in the wake of an Ebola (virus) soaked nightmare? Who would want to buy or sell? Who would want to come in contact with strangers to generate a transaction? Who would even leave their house? Ebola (viral) treatment in first world nations has advantages of finance and a cleaner overall health environment, but what if economic downturn happens simultaneously? America could experience third world status very quickly, and with it, all the unsanitary conditions that result in an exponential Ebola (pandemic) death rate. 

...Amidst even a moderate or controlled viral scenario, stocks and bonds will undoubtedly crash, a crash that was going to happen anyway. The international banks who created the mess get off blameless, while Ebola (viral outbreak), an act of nature, becomes the ultimate scapegoat for every disaster that follows.”

Is There A Single Peasant Living Who Failed To Grasp That The Odds Are In The House's Favor?

wsws |  Like every great crisis, the coronavirus pandemic has laid bare everything rotten and degenerate in capitalist society.

Nowhere is that exposure more pronounced than in the case of the stock market—that vast institutionalised mechanism through which the wealth of society, produced by the labour of the working class, is siphoned to its highest echelons at the expense of the mass of the population.

Corporations are now lining up to receive a portion of the Trump administration’s massive $2.2 trillion bailout. They are employing an army of lobbyists, lawyers and financial advisers (all taking a fat fee for their services) to maximise their gains as they plead that they are strapped for cash and must be provided with money to “save the economy.”

But a report published in the Wall Street Journal at the weekend reveals that one of the main reasons for the cash shortage is the trillions of dollars spent by major corporations on share buybacks, particularly over the decade since the global financial crisis.

According to Brian Reynolds, the chief market analyst at the research firm Reynolds Strategy, upon whose research the article is based, corporate buybacks have been the “only net source of money entering the stock market” since 2008.

The sole purpose of buyback programs is to enhance the wealth of the executives who sit atop the major corporations as well as hedge funds and other traders in shares. By cutting the number of shares on issue, the stock of the corporation rises. Executives and others can then exercise their stock options to make a killing while hedge funds strike at the opportune time and rake in billions.

The buybacks are financed by using the accumulated profits of the company or, in some cases, by the raising of debt, taking advantage of the ultra-low interest rate policies of the US Federal Reserve.

According to the economist William O. Lazonick, the proportion of corporate buybacks funded through the issuing of bonds went as high as 30 percent in both 2016 and 2017.

By Reynolds’ calculations, since the beginning of 2009, buybacks have added a net $4 trillion to the stock market, an amount equivalent to one-fifth of the total $20.9 trillion market value of the companies in the S&P 500 index.

Calculations by Lazonick put share buybacks as equivalent to 52 percent of all corporate profits, with dividends on shares accounting for another $3.3 trillion.

Father Of Neoliberalism Says U.S. Needs To Unclinch Buttcheeks With China And Just Let It Happen...,

project-syndicate |  Trump’s 2017 National Security Strategy focused on great power competition with China. Many Americans of both major political parties agree that Trump was correct to punish China for cybertheft of intellectual property, coerced intellectual property transfer, and unfair trade practices such as subsidized credit to state-owned enterprises.

Reciprocity does need to be enforced. If China can ban Google and Facebook from its market for security reasons, the US can take similar steps against Huawei or ZTE. 

Anger and mistrust festers in both countries’ capitals.But what the COVID-19 crisis teaches us is that this competitive approach to national security is inadequate. And COVID-19 is not the only example. The information revolution and globalization are changing world politics dramatically.

While trade wars have set back economic globalization, environmental globalization, reflected in pandemics and climate change, obeys the laws of biology and physics, not politics. In a world where borders are becoming more porous to everything from drugs and illicit financial flows to infectious diseases and cyber terrorism, countries must use their soft power of attraction to develop networks and institutions that address the new threats.

As technology expert Richard Danzig points out, “Pathogens, AI systems, computer viruses, and radiation that others may accidentally release could become as much our problem as theirs. Agreed reporting systems, shared controls, common contingency plans, norms, and treaties must be pursued as means of moderating our numerous mutual risks.” Tariffs and border walls cannot solve these problems.

On transnational issues like COVID-19 and climate change, power becomes a positive-sum game. It is not enough to think of power over others; one must also consider power with others. On many transnational issues, empowering others helps a country accomplish its own goals. For example, all can benefit if others improve their energy efficiency, or improve their public health systems.

All leaders have a responsibility to put their country’s interests first, but the important moral question is how broadly or narrowly they choose to define those interests. Both China and the US are responding to COVID-19 with an inclination toward short-term, zero-sum, competitive approaches, and too little attention to international institutions and cooperation.

Great Britain Seeking £351Billion In Reparations From China

thesun |  CHINA owes Britain £351billion in coronavirus compensation and the government should pursue it through the international courts, a study has concluded.

An investigation into the crisis has claimed the horrific impacts of coronavirus could have been mitigated if China had just been more honest about the outbreak.

The report, to be published tomorrow by the Henry Jackson Society (HJS), a British foreign policy think-tank, claims China directly breached international healthcare treaty responsibilities.

It also argues there are ten legal avenues major nations - such as Britain - could take to pursue damages from Beijing.

Experts calculated the G7, the world’s leading economies, face a bill of £3.2trillion.

And they said this could have been avoided if the Communist Party was more open about coronavirus, reports The Mail on Sunday.

Britain’s slice of the compensation would be used to cover the full costs of the treasury’s economic bailout plan and the hike in NHS spending to manage the crisis.

World governments have been forced to inject huge sums of cash into their economies to keep them going, helping to prop up businesses and support laid off or furloughed workers.

HJS experts concluded the Communist Party “sought to conceal bad news at the top” and to “conceal bad news from the outside world”.

It comes as British ministers are now reportedly not discounting the theory that coronavirus actually came from a leak from a Chinese lab in Wuhan.

And meanwhile, the report has spurred a group of 15 top Tories to call on Prime Minister Boris Johnson to “rethink and reset” the United Kingdom’s relationship with China.

In a joint letter, the four former Cabinet ministers and 11 MPs said they are worried about the “damage to the rules-based system caused by China’s non-compliance with international treaties”.

Downing Street Says China Faces A Reckoning

dailymail |  Boris Johnson’s allies turned on China over the coronavirus crisis yesterday, as Britain’s death toll from the epidemic reached four figures.

Ministers and senior Downing Street officials said the Communist state now faces a ‘reckoning’ over its handling of the outbreak and risks becoming a ‘pariah state’.

They are furious over China’s campaign of misinformation, attempts to exploit the pandemic for economic gain and atrocious animal rights record.

In another dramatic day:

• The UK death toll soared to 1,019 – up 260 in 24 hours, including the first surgeon to die from Covid-19;
• NHS medical chief Stephen Powis said ‘every one of us has a part to play’ if deaths were to be kept below 20,000;
• As No 10 released pictures of Mr Johnson at work, a poll found Chancellor Rishi Sunak is the voters’ favourite to be interim Prime Minister if Mr Johnson cannot perform his duties;
• Tracking by this newspaper suggested the virus sweeping Whitehall may have originated with the EU’s chief Brexit negotiator Michel Barnier;
• The first images emerged from inside London’s ExCel Centre as it is being transformed into a 4,000-bed makeshift hospital;
• Deaths across Europe exceeded 20,000, with Italy suffering 10,023 fatalities and Spain seeing its biggest daily rise of 889 to reach 5,690;
• Global infections hit 600,000;
• Ministers were considering using the RAF to airlift Britons stranded abroad after Opposition pressure;
• A front line NHS doctor gave a harrowing account to this newspaper about how medics are having to ‘play God’ due to equipment shortages;
• Amid fear of more domestic abuse cases, Home Secretary Priti Patel warned culprits they would be ‘brought to justice’;
• Police risked fresh claims of snooping by tracking motorists’ cars to check how far they have travelled;
• Panic buyers provoked anger by throwing away excess food – some of it unopened;
• US President Donald Trump suggested he may try to put New York in quarantine;
• Wuhan, the Chinese epicentre of the crisis, partially reopened after more than two months in isolation;

The latest British victims of the epidemic to be named include the first surgeon to die from the virus. 

Transplant consultant Dr Adil El Tayar, 63, who died on Wednesday, is thought to have become infected while was working at a hospital in the Midlands.

His cousin, the BBC presenter Zeinab Badawi, said: ‘Adil was a stoic and an optimist and thought he would soon recover. This virus is unforgiving, indiscriminate and it can be brutal.’

Whole Burrows Full Of Uselessly Eating Oxygen Thieves And Their Nubile Labile Wymyn...,

nypost |  When the going gets tough, the rich get going … to luxurious underground bunkers. Suddenly, heading six feet under doesn’t sound so bad, especially when the new digs often include pre-stocked food and blast-proof doors.

Helicopters are on standby “if that moment comes,” says one bunker specialist, to whisk elites into subterranean palaces with below-ground swimming pools, tennis courts and gourmet food rations in spaces you’d never know were originally designed for the military, both American and Soviet.

If you’re not in the 1 percent, no problem, there are modest bunkers available, as well, and even some reasonably-priced getaways above ground.

Fast-talking entrepreneurs, boutique hotel owners and survivalists are hoping to profit from the coronavirus pandemic by giving people a route out of despair — and boredom — with varying degrees of success.

Real estate salesman Robert Vicino is literally sitting pretty when it comes to his business — selling underground bunkers from the Black Hills of South Dakota to a remote underground city in Rothenstein, Germany. Unlike the millennial owner of a Manhattan startup who had to pull the plug on his luxe, mask-free spa last week, Vicino says business is booming in what survivalists call the “bug-out” business.

His company, Vivos, also sells bunkers in Indiana and is planning new bunkers in Asia and Marbella, Spain. He said sales are up 400% this year although his cheaper properties (35,000 euros for a big bunker in South Dakota) are selling faster than the 2 million euros, five-star Vivos Europa One underground apartments carved into a German mountain, part of a facility originally used by the Soviets to store munitions in case they invaded western Europe.

Vicino has been at the doomsday game since 2007 and it’s paying off after a slight blip when a Mayan-predicted apocalypse in 2012 never materialized and he had to dump plans for a 5,000-person bunker in Atchison, Kansas.

This Aristocratic Nutlessness Is Why Celebrities Pretend To Be On Your Side

dailymail |  New York's 'one percent' are hiring armed guards to protect them from a feared 'zombie apocalypse' - stationing former cops outside their luxury properties in Manhattan and the Hamptons in preparation for a coronavirus doomsday where criminals come breaking down their doors. 

Two leading private investigative agencies in Manhattan, Sage Intelligence and Beau Dietl & Associates, tell the DailyMail.com that business is booming from rich New Yorkers who worry they'll become prime targets if the coronavirus spirals out of control. 

Clients are citing potential red flags - thousands of police officers are getting sick, stores are running out of basic supplies, millions of families are losing their livelihoods, and hundreds of potentially violent inmates are being released from Rikers Island and other jails - all due to the pandemic. 

'These people are fearful of anarchy, that crime is going to spike and that people will get desperate and steal to feed their families,' said Mike Ciravolo, a retired NYPD detective who serves as president of Dietl. 

'They fear they will become targets if this thing really ramps up. These are very affluent people, with very, very expensive units.' Ciravolo said he's assigned guards, round-the-clock, to secure an upscale co-op in Soho and two luxury apartment buildings on the Upper East Side, and is getting more calls every day. 

Herman Weisberg, of Sage, said he started receiving Covid-19 business two weeks ago. 

At first, it was clients who wanted security guards to accompany them on errands to their banks, so they could withdraw stockpiles of cash in the event of a run on banks. 

Another client, a business executive in Soho, called him in a panic, saying he was seeking to acquire a firearm to protect himself, but couldn't find one because all the stores he contacted were sold out.

'That moved up his decision to hire me,' Weisberg said. 

Another Manhattan power couple called Weisberg from their summer home in the Hamptons, where they were hunkered down with their kids. 'They got on the phone and explained they have an alarm system that they almost never turned on,' Weisberg said. 

'Now they're turning it on, but the husband was still stressed, saying, 'What good is an alarm if nobody's around to respond?' 

The husband was insistent on hiring 24-7 security, despite his wife's hesitation and the fact the East Hampton police department is still fully operational, with just one officer reportedly testing positive for the coronavirus.

Controlavirus Theme Song For The Real Ones

forbes |  Gun sales have soared in the wake of the coronavirus outbreak, with background checks by Americans attempting to purchase firearms jumping 41% to 3.7 million last month, according to recent FBI data. While Bass Pro is privately held and doesn’t disclose how much of its $8 billion in revenue is from firearm sales, its website lists 880 guns for sale, starting at $129.99 for a semi-automatic rifle.

Ultimately, it is up to states and cities whether gun stores can remain open. The federal government emphasized that its list is advisory in nature and is not intended to be a directive or standard that must be complied with. State and local governments have the freedom to “add or subtract essential workforce categories based on their own requirements and discretion,” according to the guidance.

After the updated federal guidance was issued, Massachusetts revised its list of essential businesses in lockstep to include firearm retailers. However, several hours later, the governor changed his mind and took them off the list once again, underscoring the fluidity of the situation. Bass Pro swiftly moved to close a store outside of Boston on Thursday, which had remained open in apparent defiance of the original ban. The company declined to comment on individual store closures.

In states like Missouri, Alabama and Florida, which resisted issuing statewide shelter-in-place orders until recent days, chaos has reigned for weeks as decisions remained in the hands of dozens of local government officials.

 

For instance, Bass Pro closed a store Gainesville, Florida last weekend after a shelter-in-place order from Alachua County excluded firearm retailers from a list of essential businesses. When Gov. Ron DeSantis finally stepped in with a statewide shelter-in-place order this week, he permitted gun stores to be open. For many counties, it marked a reversal in policy. Bass Pro’s store in Gainesville remained closed on Saturday, although it was legally permitted to reopen.

In some cases, Bass Pro has been classified as an essential business in one town but not another. Take the company’s home state of Missouri, where John Morris started out in 1972 by selling fish tackle from the back of his father’s liquor store. Bass Pro has been allowed to remain open in the St. Louis area but forced to curtail its operations elsewhere in the state. After residents in Kansas City and the college town of Columbia complained to local government officials that stores were open despite local shelter-in-place orders, the counties notified Bass Pro that it must close because it was considered a non-essential business, according to government spokespeople.

Bass Pro Shops appealed the decision and cited a state statute that prohibits the state, county or any municipality from restricting gun sales during an “emergency,” according to Kayla Parker, an official with the Jackson County Health Department. It received permission from both counties to continue selling firearms and ammunition, but was required to cease the sale of all other items. At its store in a suburb of Kansas City, Missouri, it was instructed to sell via appointment only, which must be at least 15 minutes apart.

It’s a different picture across state lines in Kansas City, Kansas, where its store remains open. The state issued guidelines last weekend that declare any companies that manufacture or sell firearms, firearm accessories or ammunition to be essential businesses because they protect a constitutional or legal right. “While I left these decisions to local health departments as long as possible, the reality is that the patchwork approach that has developed is inconsistent and is a recipe for chaos,” said Gov. Laura Kelly in a statement.

We Fail Because Our Elites Are Decadent, Parasitic, Ignoble Frauds

ianwelsh |  Let’s chalk this up to aristocratic elites. Aristocrats, unlike nobles, are decadent, but don’t stop with that word; understand what it means.

Elites who are not aligned with the actual productive activities of society and are engaged primarily in activities which are contrary to production, are decadent. This was true in Ancien Regime France (and deliberately fostered by Louis XIV as a way of emasculating the nobility). It is true today of most Western elites; they concentrate on financial numbers, and not on actual production. Even those who are somewhat competent tend not to be truly productive: see the Waltons, who made their money as distributers–merchants.

The techies have mostly outsourced production; they don’t make things, they design them. That didn’t work out for England in the late 19th and early 20th centuries and it hasn’t worked well for the US, though thanks to Covid-19 and US fears surrounding China, the US may re-shore their production capacity before it is too late.

We also have a situation where Western elites are far removed from the actual creation of the systems they run. This is most true in in the US, and to a lesser extent in the UK, which did not suffer the massive bombing and destruction of most of the rest of Europe (the Blitz was minor compared to the bombs dropped on Germany, for example). Of course, reconstructing bombed societies is not the same as pulling oneself out of poverty.

The best handling of the coronavirus crisis in the world was possibly Vietnam, who are run by a generation that just pulled themselves out of poverty. Other excellent handling has happened in societies which still remember times of poverty or which were conquered and set free (Japan/Germany). China’s Xi, probably the most incompetent, also managed the crisis badly, but still better than the US/UK: Once he got serious, he got really serious. Xi, while a princeling, had a hard early life and was forced to work on the communes and so on.

This is all standard three-generation stuff: The first generation builds, the second generation manages, and the third generation wastes and takes it for granted because they’ve never known anything else. Sometimes that extends to four generations or more, but that requires a system which properly inculcates its elites, plus something to force the elites into at least some of the same experiences as the peons. We do not have that kind of a system.

Nobles, as Stirling Newberry explained to me years ago, are elites who make a point of being better than the people below them: better fighters, better farmers, and so on. Aristocrats are people who play court games, which is what financialized economies supported by central banks and bought politicians are. These people aren’t even good at finance. They were actually wiped out in 2008, but used politics to restore their losses and they were/are wiped out by this crisis, but are using politics (the Fed/Congress/the presidency) to restore their losses. The Fed is doing one trillion of operations a day.

The Rich Expect Isht To Go Sideways In The Big Cities

dailymail |  High-end stores throughout New York such as Louis Vuitton and Dolce & Gabbana are boarding up their windows in anticipation of civil unrest as the death toll in the city reached 1,867 on Friday with 305 new deaths.

The wealthy businesses had already been ordered closed along with bars and restaurants as part of the shelter in place protections but they are now taking further steps to secure their property and products as the city's police department suffers high numbers of officers calling in sick with the coronavirus raging through its ranks.  

New York City cases spiked to 57,159 on Friday night with 5,350 new cases, as the national total rose to 277,999 confirmed cases and 7,164 deaths.  

Boarded up windows and empty streets have transformed the city that never sleeps into a war zone with city officials sending out on an emergency alert to New Yorkers' cellphones on Friday calling on health workers to present themselves for battle against the coronavirus outbreak on the front lines in the city's overstretched, overwhelmed and under resourced hospitals.   

The alert came amid warnings that New York City will run out of crucial supplies by the end of next week and that Sunday will be 'D-Day' in terms of assessing what is needed for the weeks going forward. 

Dolce & Gabbana, Jimmy Choo and Louis Vuitton were among the Manhattan stores to cover up their windows with plywood in the past week as the crisis in the city worsened despite streets being empty of customers or even passersby. 

The rows of boarded up buildings create a stark reminder of the newly unemployed workers who lost their jobs after the scale of the outbreak caused stores, bars and restaurants to shut their doors for the foreseeable future.  

Some businesses attempted to light the mood on the closures, despite the rows of plywood covering their entrance, painting messages of support and encouragement that the coronavirus will be beaten. 

Throughout Manhattan, the unsightly coverings are offset with the words of motivation.  

'We are all in this together,' one reads. 'Stay save. Save lives.' 

Louis Vuitton in Soho was among the storefronts to leave its customers a messages on the wooden boards guarding its property reading: 'The journey that was paused will eventually start again, Louis Vuitton wishes you & your loved ones health & safety.’ 

And Not A Single American Physician In This Bailed-Out Beezie....?

Prospect |  On March 22, the Steward hospital chain sent a letter to Pennsylvania Governor Tom Wolf, saying it would close Easton Hospital, in the state’s Lehigh Valley, on March 27 unless it received a government bailout to keep it operating.

Steward’s letter read: “If the Commonwealth has no interest in assuming all operating expenses and liabilities of Easton Hospital, Steward Health Care will proceed immediately on planning to close the facility.” The threat paid off: On the 27th, the state guaranteed Easton $8 million for April and a likely $24 million through the month of June. The bulk of the funds, Wolf said, would be covered by the federal bailout package that President Trump had signed into law that very day.

How Easton had descended to such dire straits is a good question, inasmuch as its owner—the private equity firm Cerberus Capital Management—is hardly a candidate for taxpayer-funded assistance, and is responsible for loading down the hospital with an unpayable level of debt.

The Easton story is likely to be just the first of many. After compelling hospitals to take on huge piles of debt through leveraged buyouts, private equity firms—currently sitting on $1.5 trillion in uninvested cash from investors—are poised to line up for taxpayer bailouts.

Steward has claimed that Easton Hospital has been financially distressed for months, that competition from other larger hospitals is fierce, and that the postponement of all elective surgeries has further cut into revenues. It had worked out a deal to sell the hospital to St. Luke’s University Network, but the deal has slowed down due to the COVID-19 crisis.

But why is Easton Hospital struggling so much more than other hospitals?

After compelling hospitals to take on huge piles of debt through leveraged buyouts, private equity firms are poised to line up for taxpayer bailouts.

Size matters, but its private equity buyout history matters more. In March 2017, Cerberus acquired Easton, along with seven other hospitals, in a leveraged buyout for an undisclosed amount from Community Health Systems (CHS). While we don’t know how much debt Steward took on in order to buy out Easton, the typical private equity buyout includes debt financing in the range of 50 percent to 70 percent of the purchase price, which the acquisition, in this case Easton Hospital, is expected to repay. We do know that at the time of the sale, Steward sold the property of all eight hospitals to a real-estate investment trust, Medical Properties Trust (MPT), and pocketed $304 million in return.

Since then, Easton Hospital has had to pay rent on property it had owned for the 127 years of its existence. How much of Easton’s revenues have been used to pay down debt Steward incurred to acquire it and to pay rent on its facilities—revenues that could have been used to financially stabilize the hospital?

How Private Equity Drives Surprise Billing

Prospect |  Surprise medical billing has quickly become a small but critical flashpoint in health care reform. Because doctors and hospitals negotiate separately with insurance companies over reimbursement rates, it's possible for a patient's insurance to cover hospital charges while failing to cover the fees of some doctors in the hospital who are “out of network.” Patients who visit an emergency room (ER) or are admitted to an in-network hospital by an in-network doctor may find that some of the professionals who treat them are not covered by their insurance. That is because hospitals have outsourced ER, anesthesiology, radiology, or other specialized services to outside physician practices or staffing firms. Patients often find themselves on the hook for thousands, or even tens of thousands of dollars in surprise medical bills.

Twenty-five states have passed laws with limited protection for patients from out-of-network bills, usually for emergency room or urgent-care services; 20 more states are considering legislation. But these laws do not cover self-insured employer plans, which can only be regulated by the federal government. These plans cover an estimated 61 percent of workers who have private insurance, up from 44 percent 20 years ago. That means Congress must step in to protect insured patients from unfair and unexpected medical charges.

And that puts lawmakers up against the powerful and influential private equity industry, which plays a major role in supplying hospitals with physicians. They have aggressively bought up large national staffing firms or “physician practice management” (PPM) companies, as well as emergency providers that hospitals and other health organizations have outsourced, such as ground and air ambulance companies. And they are using the typical tools to protect their investments from a legislative onslaught: lobbying cash, dark-money front groups, and allies in Congress pushing loopholes and half measures.

The Role of Private Equity: Driving Market Concentration

Private equity funds use substantial debt to acquire doctors' practices through leveraged buyouts, and to finance mergers of practices into large staffing firms. Emergency medical and specialist practices are a prime buyout target, because patients who need emergency care cannot haggle over price, and third-party payers guarantee payment. This satisfies the private equity business model of promising “outsized returns” to investors.

Private equity firms buy up small specialty physician practices that have begun to consolidate and “roll them up” into umbrella organizations to gain local, regional, and ultimately national market power. Researchers at the Kellogg School of Management found that most individual acquisitions were below the dollar threshold that would have required the transaction to be reported to antitrust regulators.

Do Healthcare Professional Staffing Firms Specialize In Pimping H1-B Replacement Negroe Physicians?

laprogressive |  About a third of hospital emergency rooms are staffed by doctors on the payrolls of two physician staffing companies—TeamHealth and Envision Health—owned by Wall Street investment firms. Envision Healthcare employs 69,000 healthcare workers nationwide while TeamHealth employs 20,000. Private equity firm Blackstone Group owns TeamHealth, Kravis Kohlberg Roberts (KKR) owns Envision.

Care of the sick is not the mission of these companies; their mission is to make outsized profits for the private equity firms and its investors. Overcharging patients and insurance companies for providing urgent and desperately needed emergency medical care is bad enough. But it is unconscionable to muzzle doctors who speak out to advocate for the health of their patients and co-workers during the global pandemic that is rapidly spreading across the US.

Yet, that is what Blackstone-owned TeamHealth just did. Why would an experienced ER doctor be fired in the middle of a pandemic? One clue may be that Blackstone’s CEO, Stephen A. Schwarzman, is part of President Trump’s inner circle. He may not want to risk that relationship by allowing TeamHealth’s doctors to inform the public about Washington’s mishandling of the allocation of supplies and protective gear. The President might conclude that TeamHealth doctors didn’t appreciate him enough, and where would that leave Schwartzman?

PeaceHealth St. Joseph Medical Center may have the distinction of being the first hospital to have a doctor outsourced from a physician staffing firm unceremoniously fired for telling the public the truth. But it won’t be the last. Hospitals are now telling doctors treating coronavirus patients they will be fired if they speak to the press.

Shi Zhengli's Student Huang Yan Ling Mysteriously Disappeared

WaPo | The story of how the novel coronavirus emerged in Wuhan, China, has produced a nasty propaganda battle between the United States and China. The two sides have traded some of the sharpest charges made between two nations since the Soviet Union in 1985 falsely accused the CIA of manufacturing AIDS.

U.S. intelligence officials don’t think the pandemic was caused by deliberate wrongdoing. The outbreak that has now swept the world instead began with a simpler story, albeit one with tragic consequences: The prime suspect is “natural” transmission from bats to humans, perhaps through unsanitary markets. But scientists don’t rule out that an accident at a research laboratory in Wuhan might have spread a deadly bat virus that had been collected for scientific study.

“Good science, bad safety” is how Sen. Tom Cotton (R-Ark.) put this theory in a Feb. 16 tweet. He ranked such a breach (or natural transmission) as more likely than two extreme possibilities: an accidental leak of an “engineered bioweapon” or a “deliberate release.” Cotton’s earlier loose talk about bioweapons set off a furor, back when he first raised it in late January and called the outbreak “worse than Chernobyl.”

President Trump and Secretary of State Mike Pompeo added to the bile last month by describing the coronavirus as the “Chinese virus” and the “Wuhan virus,” respectively.

China dished wild, irresponsible allegations of its own. On March 12, Chinese foreign ministry spokesman Lijian Zhao charged in a tweet: “It might be [the] US army who brought the epidemic to Wuhan.” He retweeted an article that claimed, without evidence, that U.S. troops might have spread the virus when they attended the World Military Games in Wuhan in October 2019.

China retreated on March 22, when Ambassador to the United States Cui Tiankai told “Axios on HBO” that such rumors were “crazy” on both sides. A State Department spokesman said Cui’s comment was “welcome,” and Trump and Chinese President Xi Jinping pledged in a March 27 phone call to “focus on cooperative behavior,” a senior administration official told me.

Weinstein's Revenge: The New Geometric Quantum

edge |  The modern theory of the quantum has only recently come to be understood to be even more exquisitely geometric than Einstein's General Relativity. How this realization unfolded over the last 40 years is a fascinating story that has, to the best of my knowledge, never been fully told as it is not particularly popular with some of the very people responsible for this stunning achievement.

To set the stage, recall that fundamental physics can be divided into two sectors with separate but maddeningly incompatible advantages. The gravitational force has, since Einstein's theory of general relativity, been admired for its four dimensional geometric elegance. The quantum, on the other hand encompasses the remaining phenomena, and is lauded instead for its unparalleled precision, and infinite dimensional analytic depth.

The story of the geometric quantum begins at some point around 1973-1974, when our consensus picture of fundamental particle theory stopped advancing. This stasis, known as the 'Standard Model', seemed initially like little more than a temporary resting spot on the relentless path towards progress in fundamental physics, and theorists of the era wasted little time proposing new theories in the expectation that they would be quickly confirmed by experimentalists looking for novel phenomena. But that expected entry into the promised land of new physics turned into a 40-year period of half-mad tribal wandering in an arid desert, all but devoid of new phenomena.

Yet just as particle theory was failing to advance in the mid 1970s, something amazing was quietly happening over lunch at the State University of New York at Stony Brook. There, Nobel physics laureate CN Yang and geometer (and soon to billionaire) Jim Simons had started an informal seminar to understand what, if anything, modern geometry had to do with quantum field theory. The shocking discovery that emerged from these talks was that both geometers and quantum theorists had independently gotten hold of different collections of insights into a common structure that each group had independently discovered for themselves. A Rosetta stone of sorts called the Wu-Yang dictionary was quickly assembled by the physicists, and Isadore Singer of MIT took these results from Stony Brook to his collaborator Michael Atiyah in Oxford where their research with Nigel Hitchin began a geometric renaissance in physics inspired geometry that continues to this day.

While the Stony Brook history may be less discussed by some of today's younger mathematicians and physicists, it is not a point of contention between the various members of the community. The more controversial part of this story, however, is that a hoped for golden era of theoretical physics did not emerge in the aftermath to produce a new consensus theory of elementary particles. Instead the interaction highlighted the strange idea that, just possibly, Quantum theory was actually a natural and elegant self-assembling body of pure geometry that had fallen into an abysmal state of pedagogy putting it beyond mathematical recognition. By this reasoning, the mathematical basket case of quantum field theory was able to cling to life and survive numerous near death experiences in its confrontations with mathematical rigor only because it was being underpinned by a natural infinite dimensional geometry, which is to this day still only partially understood.

In short, most physicists were trying and failing to quantize Einstein's geometric theory of gravity because they were first meant to go in the opposite and less glamorous direction of geometrizing the quantum instead. Unfortunately for Physics, mathematicians had somewhat dropped the ball by not sufficiently developing the geometry of infinite dimensional systems (such as the Standard Model), which would have been analogous to the 4-dimensional Riemannian geometry appropriated from mathematics by Einstein.

This reversal could well be thought of as Einstein's revenge upon the excesses of quantum triumphalism, served ice cold decades after his death: the more researchers dreamed of becoming the Nobel winning physicists to quantize gravity, the more they were rewarded only as mathematicians for what some saw as the relatively remedial task of geometrizing the quantum. The more they claimed that the 'power and glory' of string theory (a failed piece of 1970s sub-atomic physics which has mysteriously lingered into the 21^st century) was the 'only game in town', the more it suggested that it was the string theory-based unification claims that, in the absence of testable predictions, were themselves sinking with a glug to the bottom of the sea.

What we learned from this episode was profound. Increasingly, the structure of Quantum Field Theory appears to be a purely mathematical input-output machine where our physical world is but one of many natural inputs that the machine is able to unpack from initial data. In much the way that a simple one-celled human embryo self-assembles into a trillion celled infant of inconceivable elegance, the humble act of putting a function (called an 'action' by physicists) on a space of geometric waves appears to trigger a self-assembling mathematical Rube-Goldberg process which recovers the seemingly intricate features of the formidable quantum as it inexorably unfolds. It also appears that the more geometric the input given to the machine, the more the unpacking process conspires to steer clear of the pathologies which famously afflict less grounded quantum theories. It is even conceivable that sufficiently natural geometric input could ultimately reveal the recent emphasis on 'quantizing gravity' as an extravagant mathematical misadventure distracting from Einstein's dream of a unified physical field. Like genius itself, with the right natural physical input, the new geometric quantum now appears to many mathematicians and physicists to be the proverbial fire that lights itself.

Yet, if the physicists of this era failed to advance the standard model, it was only in their own terms that they went down to defeat. Just as in an earlier era in which physicists retooled to become the first generation of molecular biologists, their viewpoints came to dominate much of modern geometry in the last four decades, scoring numerous mathematical successes that will stand the tests of time.

Likewise their quest to quantize gravity may well have backfired, but only in the most romantic and elegant way possible by instead geometrizing the venerable quantum as a positive externality.

But the most important lesson is that, at a minimum, Einstein's minor dream of a world of pure geometry has largely been realized as the result of a large group effort. All known physical phenomena can now be recognized as fashioned from the pure, if still heterogeneous, marble of geometry through the efforts of a new pantheon of giants. Their achievements, while still incomplete, explain in advance of unification that the source code of the universe is overwhelmingly likely to determine a purely geometric operating system written in a uniform programming language. While that leaves Einstein's greater quest for the unifying physics unfinished, and the marble something of a disappointing patchwork of motley colors, it suggests that the leaders during the years of the Standard Model stasis have put this period to good use for the benefit of those who hope to follow.

Weinstein Discussion Resources

reddit | Discord Server for discussion of The Portal

Fan-made Content

https://discord.gg/h6TXEu4

I've created a Discord server for anyone who would like to discuss The Portal in real time.  And with Eric's recent discussions of community building, I thought this may also have the possibility of becoming a useful place.

ericweinstein.org | 

Gov. Gretchen Whitmer Reverses Her Politically Motivated Hydroxychloroquine Ban

Last week, I told you about some political butter biscuit chasing in Michigan - what a difference a week makes...,

washingtontimes |  Michigan Gov. Gretchen Whitmer has asked the federal government for hydroxychloroquine and chloroquine, days after her administration came under criticism for a statewide crackdown on the drugs touted by President Trump for the novel coronavirus.

The request from the Michigan Health and Human Services Department was made after the U.S. Food and Drug Administration (FDA) issued an emergency-use authorization Monday for the drugs, which have long been approved for treating malaria, lupus and rheumatoid arthritis.

“Based on the FDA’s Emergency Use Authorization to allow the use of hydroxychloroquine sulfate and chloroquine phosphate products donated to the Strategic National Stockpile (SNS) for certain patients with COVID-19, we are pursuing a request for hydroxychloroquine/chloroquine from SNS,” said Lynn Sutphin, Michigan HHS spokesperson, in an email.

The request, first reported by the nonprofit Bridge Michigan, came after the state Department of Licensing and Regulatory Affairs warned doctors against prescribing the drugs, citing lack of evidence about their efficacy against COVID-19 and reports of stockpiling, adding that reports of such conduct “may be further investigated for administrative action.”

Pharmacists were also instructed not to fill prescriptions if they believed they could be used for reasons “other than legitimate medical purposes” or “cause harm to a patient,” adding that medical providers had an obligation to report “inappropriate prescribing practices.”

washingtontimes |  Michigan Gov. Gretchen Whitmer has come under criticism for a statewide order cracking down on prescriptions of hydroxychloroquine, a drug touted by President Trump to treat the novel coronavirus.

The Michigan Department of Licensing and Regulatory Affairs issued an order Wednesday warning physicians against writing prescriptions “without a legitimate medical purpose” and instructing pharmacists to evaluate the “legitimacy” of hydroxychloroquine or chloroquine prescriptions.

The department cited concerns about stockpiling amid “multiple allegations” of doctors writing prescriptions for family and friends, adding that reports of such conduct “may be further investigated for administrative action” and that other health professionals are required to report “inappropriate prescribing practices.”

Michigan isn’t the first state to restrict the use of the drug — Nevada Gov. Steve Sisolak issued an emergency order last week over concerns about “bad actors” creating a shortage — but the moves have fueled allegations on the right that Democrats and media outlets are seeking to play politics with the drug.

Kathy Hoekstra, who previously worked for Republican businessman Herman Cain, accused Ms. Whitmer of putting patients at risk with her administration’s “knee-jerk scare tactics.”

Big Papi Weinstein Fitna Buss Some GUT...,

Elite Establishment Joins MSM Villifying China For Controlavirus

foreignpolicy |  While the novel coronavirus is changing the world, China is trying to do the same. Already a serious strategic rival of the United States with considerable international clout, it’s now moving into a new field—health.

After initial denials and cover-ups, China successfully contained the COVID-19 outbreak—but not before it had exported many cases to the rest of the world. Today, despite the falsehoods it initially passed on, which played a critical role in delaying global response, it’s trying to leverage its reputed success story into a stronger position on international health bodies.

Most critically, Beijing succeeded from the start in steering the World Health Organization (WHO), which both receives funding from China and is dependent on the regime of the Communist Party on many levels. Its international experts didn’t get access to the country until Director-General Tedros Adhanom visited President Xi Jinping at the end of January. Before then, WHO was uncritically repeating information from the Chinese authorities, ignoring warnings from Taiwanese doctors—unrepresented in WHO, which is a United Nations body—and reluctant to declare a “public health emergency of international concern,” denying after a meeting Jan. 22 that there was any need to do so.

After the Beijing visit, though, WHO said in a statement that it appreciated “especially the commitment from top leadership, and the transparency they have demonstrated.” Only after the meeting did it declared, on Jan. 30, a public health emergency of international concern. And after China reported only a few new cases each day, WHO declared the coronavirus a pandemic March 11—even though it had spread globally weeks before.

WHO was keen to broadcast Beijing’s message. “In the face of a previously unknown virus, China has rolled out perhaps the most ambitious, agile and aggressive disease containment effort in history,” WHO experts said in their February report on the mission to China. The country had gained “invaluable time for the response” in an “all-of-government and all-of society approach” that has averted or delayed hundreds of thousands of cases, protecting the global community and “creating a stronger first line of defense against international spread.”

China’s “uncompromising and rigorous use of non-pharmaceutical measures” provides vital lessons for the global response, the WHO report said. Beijing’s strategy “demonstrated that containment can be adapted and successfully operationalized in a wide range of settings.” However, while recommending China’s epidemic control policy to the world, WHO neglected the negative externalities—from economic damage to the failure to treat many non-coronavirus patients, psychological woes, and human rights costs.

It’s not surprising that China’s containment strategy was effective, said Richard Neher, virologist at the University of Basel. “The big lockdown, centralized quarantine, and contact tracing for sure accelerated the decline,” Neher said. Lawrence O. Gostin, director of the WHO Collaborating Center on National and Global Health Law at Georgetown University, points to “major human rights” concerns with the lockdown techniques pioneered in China and now—to a different degree—adopted in many nations. Gostin recommends standard public health measures like testing, treatment, contact tracing, and isolation or quarantine “as scientifically justified.”

While the rising number of cases elsewhere shows that China isn’t alone in failing in the initial stages of an outbreak, the full story of the Chinese loss will probably never be known—and certainly not recognized by WHO or other bodies.

One reason is that official data from China is often highly dubious—which can lead to ill-advised health policies in other countries, since studies based on information from China are the first used to understand COVID-19. Countless cases of people dying at home in Wuhan—some being described in social media posts—will probably never go into the statistics. And while a report by Caixin on the Chinese province of Heilongjiang said that a considerable percentage of asymptomatic cases has not been reported—which amounts to about 50 percent more known infections in China, according to a South China Morning Post report on classified government data—WHO takes numbers reported by Beijing at face value.