Opinion | Restart the Economy? Let Trump Lead the Way. - POLITICO | Canada News Media
Connect with us

Economy

Opinion | Restart the Economy? Let Trump Lead the Way. – POLITICO

Published

 on


.cms-textAlign-lefttext-align:left;.cms-textAlign-centertext-align:center;.cms-textAlign-righttext-align:right;.cms-magazineStyles-smallCapsfont-variant:small-caps;

In a Monday evening briefing, President Donald Trump stupefied the White House press corps and the nation with a dramatic about-face decision. He said he was ready to overrule the advice of administration doctors like Anthony Fauci, scientists, public health officials and others about tamping down the coronavirus pandemic by maintaining social distancing and keeping businesses shuttered. Then he kept going on Tuesday: “We have to go back to work, much sooner than people thought,” Trump said during a Fox News Channel interview, adding that he was looking toward Easter, April 12.

Arguing that the economy could not endure an extended lockdown, Trump said on Monday that we “cannot” let the cure be worse than the problem itself.” He added that when the 15-day period of social distancing he originally ordered expired on March 30, he would make a decision about “essentially reopening the country.”

Trump floated this balloon even though the speed with which the contagion is ripping through the U.S. population rivals what Italy, Iran, France and other exposed developed countries have experienced. Should Trump execute this move, the spike in cases could deluge hospitals well beyond their capacity and push the U.S. death toll beyond the 2.2 million predicted in the widely cited Imperial College coronavirus model. To fill the streets with sick people, overload the hospitals with patients it can’t treat, and feed the cemeteries with a bumper crop of corpses will only damage the economy more than the current containment policies, say the health professionals.

What on earth is the president doing? One possibility is that he’s not really serious about lifting the restrictions, and is just blowing hot air to make sure the stock markets don’t get scared downward any further. Trump is known for his short-term thinking, responding to even complex issues with improvised day-to-day or minute-by-minute antics. Maybe that’s what’s happening here, too.

But maybe he’s serious. If so, here’s a modest proposal: As an example to his followers, Trump and his entire White House team can go first.

To really boost confidence, Trump could go big and bold, temporarily relocating White House operations and personnel to the hottest coronavirus spot in the country, New York City, and relax restrictions in a place where all can see. He could move his Resolute desk into his Trump Tower office and could instruct his White House staff to take the elevator down at lunchtime to patronize food carts and restaurants, take the subway and buses to work, and play pick-up games of basketball.

To further demonstrate his sincerity, Trump should also order his entire family to break out of their life-support cocoons to take jobs as cashiers, deliverymen, nursing home janitors, bus drivers, EMT assistants and other positions that require regular contact with potentially infected people.

Of course, Trump won’t do any such thing. He’s a germaphobe whose prize possession is his family. But his love of family makes it fair to ask why he seems so eager to sacrifice other people’s families while offering no corresponding sacrifice of his own. (Is he really advocating getting-coronavirus-to-own-the libs?)

There’s also something exploitative about how he has relied on his loyal followers at Fox News Channel to downplay the danger of the coronavirus outbreak. Fox, whose virus commentaries were cavalier until recent days, obviously knew better weeks ago. Even as Fox anchors were dismissing the virus as an unnecessary panic, the people who own and control the network were acting differently. As the New York Times columnist Ben Smith reported Tuesday, the big 89th birthday party planned for Fox chairman Rupert Murdoch was canceled on March 8 because such a large gathering posed a threat to his health.

To be fair to Trump, he isn’t the only one talking about lifting restrictions. America’s shadow president, New York Governor Andrew Cuomo, who, unlike Trump, has been serving accurate medical information in his pressers, likewise conceded on Monday that the economy can’t remain on shutdown forever. But heeding scientific advice instead of rejecting, Cuomo doesn’t anticipate opening the window for many weeks or months, favoring the “surgical” approach of restarting parts of the economy in stages while protecting the vulnerable.

If Trump were to conduct a coronavirus experiment on himself, he wouldn’t be the first medical thinker to expose himself to danger to prove a theory. There’s a long tradition of self-experimentation by doctors and researchers who have made themselves guinea pigs. If Trump is as medically savvy as he claimed to be while touring the Centers for Disease Control and Prevention in Atlanta earlier this month—“I like this stuff. I really get it,” he said—and it’s as epidemiologically sound as he makes it out to be to abandon the current restrictions, Trump can show us the way. All we should request in return is his promise to refuse a ventilatior should he get sick enough to need one.

Your move, Mr. President.

******

I made a home ventilator out of a Mighty Mite vacuum cleaner and a long length of garden hose. Send your disaster blueprints to [email protected]. My email alerts tried to kill my Twitter feed for drinking the last beer in the refrigerator. My RSS feed promises all who subscribe to it everlasting life.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

A timeline of events in the bread price-fixing scandal

Published

 on

 

Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite up more than 250 points, U.S. stock markets also higher

Published

 on

 

TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.

The S&P/TSX composite index was up 254.62 points at 23,847.22.

In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.

The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.

The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.

The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Construction wraps on indoor supervised site for people who inhale drugs in Vancouver

Published

 on

 

VANCOUVER – Supervised injection sites are saving the lives of drug users everyday, but the same support is not being offered to people who inhale illicit drugs, the head of the BC Centre for Excellence in HIV/AIDS says.

Dr. Julio Montaner said the construction of Vancouver’s first indoor supervised site for people who inhale drugs comes as the percentage of people who die from smoking drugs continues to climb.

The location in the Downtown Eastside at the Hope to Health Research and Innovation Centre was unveiled Wednesday after construction was complete, and Montaner said people could start using the specialized rooms in a matter of weeks after final approvals from the city and federal government.

“If we don’t create mechanisms for these individuals to be able to use safely and engage with the medical system, and generate points of entry into the medical system, we will never be able to solve the problem,” he said.

“Now, I’m not here to tell you that we will fix it tomorrow, but denying it or ignoring it, or throw it under the bus, or under the carpet is no way to fix it, so we need to take proactive action.”

Nearly two-thirds of overdose deaths in British Columbia in 2023 came after smoking illicit drugs, yet only 40 per cent of supervised consumption sites in the province offer a safe place to smoke, often outdoors, in a tent.

The centre has been running a supervised injection site for years which sees more than a thousand people monthly and last month resuscitated five people who were overdosing.

The new facilities offer indoor, individual, negative-pressure rooms that allow fresh air to circulate and can clear out smoke in 30 to 60 seconds while users are monitored by trained nurses.

Advocates calling for more supervised inhalation sites have previously said the rules for setting up sites are overly complicated at a time when the province is facing an overdose crisis.

More than 15,000 people have died of overdoses since the public health emergency was declared in B.C. in April 2016.

Kate Salters, a senior researcher at the centre, said they worked with mechanical and chemical engineers to make sure the site is up to code and abidies by the highest standard of occupational health and safety.

“This is just another tool in our tool box to make sure that we’re offering life-saving services to those who are using drugs,” she said.

Montaner acknowledged the process to get the site up and running took “an inordinate amount of time,” but said the centre worked hard to follow all regulations.

“We feel that doing this right, with appropriate scientific background, in a medically supervised environment, etc, etc, allows us to derive the data that ultimately will be sufficiently convincing for not just our leaders, but also the leaders across the country and across the world, to embrace the strategies that we are trying to develop.” he said.

Montaner said building the facility was possible thanks to a single $4-million donation from a longtime supporter.

Construction finished with less than a week before the launch of the next provincial election campaign and within a year of the next federal election.

Montaner said he is concerned about “some of the things that have been said publicly by some of the political leaders in the province and in the country.”

“We want to bring awareness to the people that this is a serious undertaking. This is a very massive investment, and we need to protect it for the benefit of people who are unfortunately drug dependent.” he said.

This report by The Canadian Press was first published Sept. 18, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version