COVID-19 is disrupting just about every aspect of our life. Stock trading was just halted this morning due to another sell-off and our media, which generally thrives on bad news of any type, occurs to be raising the bar on its own standards of hype (Wolf Blitzer) during this horrible pandemic. Given that there is enough negative news to freely consume, I wanted to highlight some positive news.
Economy is Forecasted to Roar Back THIS YEAR
The widely publicized Goldman Sachs revised economic forecast for 2020* was picked up and broadcast by our news media for the bad news contained in the first two paragraphs. Those hard-to-read sentences predicted 0% growth in Q1 2020 and a possible slight contraction in Q2. The paragraphs following (which didn’t receive much press) predicted a roaring 3% growth rate for Q3 of 2020, which is two percentage points higher than Goldman’s pre-COVID-19 forecast. (https://www.reuters.com/article/healthcare-coronavirus-goldman-idUSL1N2B80CM)
Antibodies Discovered for COVID-19
One of the largest pharmaceutical companies in the world, Lilly announced last week a partnership with a Canadian company, AbCellera, to create antibody therapeutics for the treatment and prevention of COVID-19. Antibodies are proteins created by our bodies to destroy things our body considers alien to its system, like COVID-19. The companies announced the largest panel of antibody sequences ever reported—more than 500. They’re now in the next phase of discovering which of these are the most lethal to COVID-19 and then will mass produce it. (source: https://investor.lilly.com/news-releases/news-release-details/abcellera-and-lilly-co-develop-antibody-therapies-treatment)
COVID Cases Declining in China—to Just 11 Last Week
With nearly 100,000 cases of COVID-19 in China, it is remarkable that the country has been able to force the disease into a decline. Only 11 new cases were reported last week in the nation of more than 1 billion people. In Wuhan, the epicenter of the outbreak, 72.9 percent of patients with the virus have been discharged to date; if Wuhan were excluded from the data, the overall discharge rate being reported out of China is 97.3 percent. (source: http://www.china.org.cn/china/2020-03/14/content_75814459.htm)