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Today’s Top Stories: May 5, 2020

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The Lede

Models Project Sharp Rise in Deaths as States Reopen

An internal Trump administration report expects about 200,000 daily cases by June. The White House bars coronavirus task force officials from testifying to Congress without approval.

A Trump administration projection and a public model predict rising death tolls.

As President Trump presses for states to reopen their economies, his administration is privately projecting a steady rise in the number of coronavirus cases and deaths over the next several weeks. The daily death toll will reach about 3,000 on June 1, according to an internal document obtained by The New York Times, a 70 percent increase from the current number of about 1,750.

The projections, based on government modeling pulled together by the Federal Emergency Management Agency, forecast about 200,000 new cases each day by the end of the month, up from about 25,000 cases a day currently.

The numbers underscore a sobering reality: The United States has been hunkered down for the past seven weeks to try slowing the spread of the virus, but reopening the economy will make matters worse.

“There remains a large number of counties whose burden continues to grow,” the Centers for Disease Control and Prevention warned.


Coronavirus update:

3,606,038 confirmed infections, up from 3,529,408 yesterday.
252,151 confirmed deaths, up from 248,025 yesterday.

US stats:
1,180,634 confirmed infections, up from 1,159,245 yesterday.
68,934 confirmed deaths, up from 67,710 yesterday.

May 5, 2020 COVID-19 pandemic map
Source

Relevant COVID-19 stories:


Politics:

Watch: Senate Considers Intelligence Director Nomination Amid COVID-19 Disaster

Relevant Politics stories:


Economy Update:

Treasury plans to borrow $3 trillion from April through June as enormous coronavirus costs pile up

The Dow is up over 350 points, rising again into the 24k range.

May 5, 2020 DJIA stock chart
Source

Upcoming economic reports this week:

  • Last Friday – Motor vehicle sales (annual rate) 8.6 million, up from 7.3 million last month
  • Tuesday – Trade deficit – $44.4 billion (March), slightly up from $39.8 billion in February.
  • Wednesday – ADP employment report – more bad news? Yes.
  • Thursday – Jobless claims, Productivity – expect gruesome numbers
  • Friday – Unemployment rate – expect the unexpected

Source: https://www.marketwatch.com/tools/calendars/economic

Relevant Economy stories:

Learn how to turn your hobbies into hustles – check out Gig Economics.


Offbeat Story of the Day:

Florida Woman, 56, Busted After Allowing Her Breasts To Break Quarantine | The Smoking Gun

A Florida Woman who insisted to cops that she was allowed to go topless while cleaning out her garage–in full view of her neighbors–was arrested for indecent exposure, according to a police report.

Sponsored by the Drive Thru Jesus Show.


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Why Scientists Think The Novel Coronavirus Developed Naturally — Not In A Chinese Lab

Why Scientists Think The Novel Coronavirus Developed Naturally — Not In A Chinese Lab 1You could be forgiven for wondering how a disease as fast-moving and deadly as COVID-19 could just appear naturally, out of nowhere, seemingly overnight. President Trump expressed doubt, saying that “a lot of people” were looking at the possibility that a Chinese lab was responsible for the COVID-19 pandemic. Earlier that week, Fox News ran a story in which unnamed sources suggested that the COVID-19 outbreak originated in a Wuhan laboratory — the Wuhan Institute of Virology, which studies coronaviruses with a number of international collaborators. The New York Times reported that spy agencies are being pressured to find evidence blaming the lab, and at the end of April, the National Institutes of Health withdrew funding from a research consortium that had collaborated with the lab. As recently as this weekend, Secretary of State Mike Pompeo, despite saying there was no reason to disbelieve the intelligence community’s assessment that the virus was neither manmade nor genetically modified, claimed there was “enormous evidence” connecting the virus to the WIV.

Source: Why Scientists Think The Novel Coronavirus Developed Naturally — Not In A Chinese Lab

WSJ News Exclusive | Coronavirus Strikes at Least 2,100 Senior Facilities Across U.S., Killing 2,300 People

WSJ News Exclusive | Coronavirus Strikes at Least 2,100 Senior Facilities Across U.S., Killing 2,300 People 4The new coronavirus has hit more than 2,100 nursing homes and other senior facilities around the U.S., killing over 2,300 people, according to a survey by The Wall Street Journal, an indication the pandemic’s toll in these facilities has been greater than the federal government has reported.

Source: WSJ News Exclusive | Coronavirus Strikes at Least 2,100 Senior Facilities Across U.S., Killing 2,300 People

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