Unlimited monetary issuance: the new liquidity trap

The world’s major central banks are trapped in a reality that only looks “more or less good” if they do not run away from this permanent monetary injection, with reference rates at zero or even negative and curves of yields in the long part collapsed at levels absolutely unthinkable.

Almost all curves for European sovereigns today are in negative territory. What was novel at some point, “Bernanke’s QE1”, is today a global monetary trend that is even called “the new monetary policy”, As if broadcasting to infinity had something new.

It has been writing a dangerous chapter in monetary policy, which has reached historic levels with respect to its formidable distortion capacity that has even affected basic correlations between gold, US Treasury bonds and stocks.

The new liquidity trap

The Federal Reserve and now several central banks of the world are caught up in their own creation, which would appear to be the “new version of the liquidity trap”, a much more perverse one in which any central bank that decides to be orthodox risks the end of the reflation and therefore, the potential onset of systematic chaos related to collapse in financial asset prices.

If they “run” from so much monetary lightness the market corners them by selling strong with a VIX in the clouds and again an almost endless sequence of Free Puts implicitly issued by the main G10 central banks.

Long ago, when the US economy was showing symptoms of a very slow recovery, it was debated whether the Federal Reserve had reached its stimulus limit. Recall that at that time its reference rate was at 0% so “technically” it could not go down any further from that level. At the time, it was thought that the real economy should find its course alone and without further help from the Fed since it “had no more bullets.”

However, since then the Federal Reserve of Ben Bernanke and now from Jerome Powell, embarked on non-traditional and ultra-expansionary monetary policy and via his four QEs he took care of continue to stimulate an asset market that seems to have no limits to reflation.

The QEs of the 2008/2014 crisis have preferably gone to buy long bonds with the aim of collapsing long-term rates in an attempt to stimulate home financing. However, with QE4 implemented months ago by Powell, given that the yields of the bonds are almost zero, the market this time, decided to reflate almost entirely by the markets of equity, especially technological actions and even after the fierce correction that they exhibited these days.

Literally, the Federal Reserve wiped out the risk-free bond market by eliminating a classic investment alternative for the saver. Now said saver is forced to position himself in a totally different monster: equity, with all the volatility and insanity that this implies.

The 2008/2014 strategy and “the mother of all traps”

Previous rounds of QE implemented between 2008/2014 attempted to impact the real economy in three fronts:

  • a) yields long declines stimulated investment,
  • b) dollar weakness North American competitiveness increased via exports,
  • c) wealth effect via reflation of financial assets It made you feel “nominally” richer, stimulating consumption.

As the S&P and Nasdaq broke records time and time again, the global economy had been exhibiting a performance pretty mediocre forcing a generalization of the measures originally adopted by the Federal Reserve.

And after all this appeared the Covid-19 and erased with a stroke what until then was conceived as “aggressive” monetarily speaking. The monetary decisions adopted since then far exceed in magnitude and speed what was done in the previous crisis.

Therefore, it could be conjectured that previous QEs allowed the Fed to escape the liquidity trap the one it had reached when its benchmark rate hit 0%. The QEs were arguably the way out of the original “zero rate” trap.

But the interesting thing is that The Fed may have dodged a short liquidity trap to enter another long liquidity trap, exacerbated by multiples now given what acted on by the pandemic.

This last trap, “The mother of all traps” may be bubbly schizophrenic, even more so because this way of doing monetary policy became general worldwide, facing us today situations at risk of deflation and quasi-recessions.

The second trap

The Fed in particular he knows that if he goes just a little bit of the thread, the steepening in the long part of the curve can be aggressive enough to challenge everything advanced at the collapse level in global risk.

Precisely here is the second trap, now in the dimension of heterodox monetary policy, a trap in which not only is the Fed now but also an increasing sequence of centrals oriented by preserve scarce employment that tries to survive the impacts of coronavirus.

We can be watching a group of central banks that, although they managed to escape the liquidity trap of 2008, may well begin to get caught up in their second and magnanimous creation: huge QEs and everywhere in the G10.

There is an entire market dependent on QEs, very used to not “hedgear” nothing and very ready to cum at the slightest lack of monetary complacency.

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Bond, investing around the world with a thousand euros, earning even 16% The Economy today for free

Savings on the go

Bond yields are increasingly stingy. And the efforts of central banks to help the world out of the pandemic will keep them low for much longer. But the tour of the world with the bonds of supranational issuers also reserves various opportunities at 4-5% and in one case it even flies to 16%. As long as you can and want to face the exchange risk of the South African rand or the rupee.Or the even greater unknown of the Turkish lira. Do not be surprised, therefore, if, by scrolling through the names of the bond issues placed on the globe, you will encounter international debtors several times. The EIB but also two banks created to facilitate economic development in Asia and Africa. Finally, alongside the World Bank, an organization that is part of it, albeit autonomous: Ifc, International Finance Corporation.

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How competitors are squeezing Intel – Vedomosti

Intel CEO is confident that his company, which is constantly late with the release of new processors, will still catch up with competitors

In 2018, Intel was looking for a new CEO. The main task that was set before the newcomer, Bob Swan, was to prevent competitors from catching up and overtaking the company. Two years have passed. Intel is still struggling to pick up the pace in a race in which companies reduce processor size and increase power. The CEO is just setting up production of 10-nanometer chips. The company released its Q2 report on July 24 and acknowledged that the transition to the 7nm process technology was postponed for another six months. The first GPU will not ship until late 2021, and the first desktop chip no earlier than late 2022. Taking into account past delays, it is already a year behind the original plan.

After the news, Intel shares plunged nearly 16%.

And the quotes of competitors’ shares are growing. For the first time in history, shares of the most dangerous of them, AMD, on July 24 at the close of trading cost more than Intel. AMD released 7nm Zen 2 processors a year ago, and recently announced a 7nm desktop processor. But the jump in quotations is still a purely symbolic event: Intel’s capitalization – more than $ 200 billion – is almost four times more than AMD’s. Intel was among the winners of the pandemic. The massive shift to remote work has increased the demand for its products. Profit in the second quarter rose 22% year-over-year to $ 5.11 billion, beating analysts’ expectations.

Intel has found the culprit for the next generation chip development gap. At the end of July, the board of directors fired the technical director, Murti Renducintalu. Once he was lured into the company for huge money almost simultaneously with Swan, and he was considered the second person in it. The engineering department, for which Renducintala was in charge, will now be divided into five parts: the technical development department; production; engineering design; architecture, software and graphics; supply chain.

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it raises the number of infections among young people – Telemundo San Diego (20)

According to the count of NBC News, the US reached early this morning of Saturday, the number of 2,467,147 confirmed cases of COVID-19 and 125,547 deceased.

Texas and Florida backtracked on Friday, and adopted new measures against the bars, while the daily number of confirmed infections of coronaviruses throughout the united States reached an unprecedented 40,000.

The governor of Texas, Greg Abbott, ordered the closure of all the bars, while Florida banned the consumption of alcohol in those establishments. Both states joined a small but growing list of entities that have been suspended, a greater re-opening of their economies due to flare-ups, mainly in the south and the west of the country.

On Wednesday, the number of new cases of coronavirus by day in the united States, exceeded the peak reached at the end of April, recording more than 45,000 new cases of COVID-19, more than the maximum 36,400 reached on the 24th of April, according to NBC News.

This according to data compiled Wednesday by NBC.

The state most affected by the pandemic remains New York with 395,703 confirmed cases 32,169 deceased.

New York will continue to the neighboring New Jersey with 173,640 confirmed cases and 14,872 deceased, the state of Illinois, with 138,540 infections and 6,847 deaths, and Massachusetts, which has been reported 107,837 positive for coronavirus and 8,013 dead.

Other states with a large number of deaths are Michigan (6,133), Pennsylvania (6,630), California (5,814), and Connecticut, with 4,307.

Health experts have said that it is seeing an alarmingly high number of infections among young people who are coming out again, often without masks and without follow other social distancing measures.

Governor Greg Abbott took the decision to the spike in cases of COVID-19.

“It is evident that the increase in cases is driven primarily by a certain type of activities, as the assistance of texans in the bars,” stated Abbott.

Abbott had undertaken one of the calendarizaciones most dynamic of reopening in the country. The republican had stood up to the demands of that order the use of facemasks and also had refused until last week to allow local governments to impose such a measure.

“The doctors told us at the time, and what is said to who will listen, that this would be a disaster. And what has been”, stated the judge, democrat Clay Jenkins, the authority of highest rank in the county of Dallas. “Once again, the governor acts with slowness. Now you are forced to do the things that you require to do so in the last month and a half”.

Texas reported more than 17,000 new cases in the last three days, and on Thursday reached a record high of nearly 6,000. The second most populous state has also registered daily record of hospitalizations, and Friday surpassed for the first time the 5,000 patients of coronavirus boarding schools.

The couple also has a daughter of 1 year, who also tested positive to the virus.

In Florida, on the instruction of the governor-republican Ron DeSantis, the agency that regulates bars took action after the daily number of new confirmed cases is closer to 9,000, nearly double the record from just two days ago.

Colleen Corbett, a maid of 30 years who works at two facilities in Tampa, was said to be upset and worried to stay again without a job, but pointed out that the restrictions are the correct size. Most customers were not using masks, he said.

“It seems as if they have forgotten that there is a pandemic or just left to worry,” said Corbett.

Several of the states most affected, such as Arizona and Arkansas, have republican governors who have resisted efforts to legislate mandatory use of facemasks and have reiterated the president’s desire to Donald Trump to revive the economy quickly, despite warnings that there could be new outbreaks of coronavirus.

The experts of the federal government estimate that they would be more than 20 million infected with the virus in the US. To see more of Telemundo, visit now.telemundo.com

The number of deaths from coronavirus in the united States has been around 600 per day recently, compared with about 2,200 in the peak reached in April. Some experts doubt that it will reach that level again due to advances in treatment and prevention.

The virus has caused some 125,000 deaths and has infected almost 2.5 million people in the united States, according to a tally by the Johns Hopkins University. But health authorities believe that the number of cases is 10 times higher. At the global level, the virus has claimed close to half a million lives.

Louisiana reported its second day with more than 1,300 confirmed cases, a number that made the democratic governor, John Bel Edwards to suspend a greater lifting of restrictions on mobility. The republican governor of Arizona, Doug Ducey, did the same thing, since the new cases in your state exceed the 3,000 per day, and 85% of hospital beds are occupied.

For the second time in a week, Tennessee reported its biggest daily increase in confirmed infections, with more than 1,400, but the republican governor Bill Lee has been reluctant to re-impose restrictions or require the use of masks.

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experts say looming disaster – Telemundo Denver

Hospital administrators and health experts warned on Wednesday that some parts of the united States are on the verge of being overwhelmed by a resurgence of the coronavirus, and expressed regret that politicians and the public weary of closures are leaving that disaster to happen.

The united states recorded a total of 34,700 new cases of COVID-19 in a day, the highest figure in two months, from the peak of 36,400 registered in mid-April, according to the count maintained by the Johns Hopkins University.

Even though new confirmed cases have been declining steadily in sites with outbreaks early in the united States, such as New York and New Jersey, several other states set records for one day this week, including Arizona, California, Mississippi, Nevada and Texas. Some of them broke in addition to records of hospital admissions, as it happened in North Carolina and South Carolina.

The united states reached this Wednesday the number of 2,385,348 confirmed cases of COVID-19 and the of 122,450 deceased, in accordance with the count independent of NBC News.

New York remains the state hardest hit by the pandemic with 398,105 confirmed cases and 32,079 dead.

New York will continue to the neighboring New Jersey (173,475 cases and 13,004 deceased), Massachusetts (107,611 infections and 7,938 deaths) and Illinois (138,540 positive and 6,770 dead).

In Pennsylvania there are 87,733 cases, of which 6,573 have resulted in deaths. Meanwhile, in Michigan, have been confirmed 68,555 infections and 6,114 deaths.

California currently has 192,537 infections and 5,677 deaths, while in Connecticut there are 45,899 infected and 4,277 deceased. Florida reached 109,014 cases and 3,281 deceased, at the time that Louisiana collects 52,477 infections and 3,152 deaths.

“People became complacent,” said dr. Marc Boom, director general of the hospital system Houston Methodist. “And the virus is returning and golpeándonos, frankly”.

The stock market plunged considerably on Wednesday after the resurgence of the virus cast a shadow over hopes for a quick economic recovery. The virus has been blamed for more than 122,000 deaths in the united States and more than 2.3 million of confirmed infections.

California, the most populous state, reported more than 7,100 new cases. The count in Florida grew by 5,500 in a day, an increase of 25% compared to the record of the previous week and three times the level just two weeks ago.

In Texas, which began to lift the restrictions of the confinement may 1, the hospital admissions have doubled, and the new cases to triple in two weeks.

Governor Greg Abbott told the channel KFDA-TV that the state goes through a “massive outbreak” and may require new local restrictions to preserve space for hospitalizations in some places.

In the eight hospitals of Houston Methodist in Texas, the count of patients with COVID-19 has increased threefold in the last month, at 312. Approximately 20% of the testing of coronavirus that are now the hospitals are positive, compared with between 2% and 4% in mid-may.

If that trend doesn’t change, the chain of hospitals with 2,000 beds would be 600 patients with coronavirus in the next three weeks and would be forced to cancel surgeries not essential, said Boom.

“We need everyone to behave perfectly and work together perfectly,” to slow down the rate of infections, said Boom. “When I see a restaurant or a business in which the people are not following the guidelines, where they are abandoning the caution, that makes me mad”.

In Arizona, the cases will likely exceed the capacity of beds in the hospitals of the state in the coming weeks if the trend continues, said dr. Joseph Gerald, a professor of political of public health of the University of Arizona.

“We are in serious trouble,” said Gerald, who called the state to impose new restrictions on business, something that the republican governor Doug Ducey has refused to do. Without such measures, says Gerald, the balance of deaths will occur at levels “unprecedented”.

Dr. Peter Hotez, an expert in infectious diseases, said that he is concerned that the states wasted the time they have left to prevent a crisis much greater.

“We are still speaking of subtleties, we are discussing if we should wear masks or not, and we still do not understand that a vaccine is not going to rescue,” said Hotez, of the School of Medicine, Baylor, Texas.

Initially, governor Abbott, also a republican, forbade local officials penalized or multaran people for not wearing masks when he began to be reopened by the state. After cases are fired, Abbott said last week that cities and counties could allow the business would require masks.

In Florida, several counties and cities have recently begun to require face masks in public places and penalizing businesses that do comply with the regulations of estrangement public.

In an indication of the change of the outbreak in the country, New York, Connecticut and New Jersey, announced that it will require visitors from states with high rates of infection must be quarantined for 14 days. It is a change from march, when the governor of Florida Ron DeSantis issued a similar order for the visitors to the New York area, where then were an increase in cases.

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experts say looming disaster – Telemundo Bay Area 48

Hospital administrators and health experts warned on Wednesday that some parts of the united States are on the verge of being overwhelmed by a resurgence of the coronavirus, and expressed regret that politicians and the public weary of closures are leaving that disaster to happen.

The united states recorded a total of 34,700 new cases of COVID-19 in a day, the highest figure in two months, from the peak of 36,400 registered in mid-April, according to the count maintained by the Johns Hopkins University.

Even though new confirmed cases have been declining steadily in sites with outbreaks early in the united States, such as New York and New Jersey, several other states set records for one day this week, including Arizona, California, Mississippi, Nevada and Texas. Some of them broke in addition to records of hospital admissions, as it happened in North Carolina and South Carolina.

The united states reached this Wednesday the number of 2,385,348 confirmed cases of COVID-19 and the of 122,450 deceased, in accordance with the count independent of NBC News.

New York remains the state hardest hit by the pandemic with 398,105 confirmed cases and 32,079 dead.

New York will continue to the neighboring New Jersey (173,475 cases and 13,004 deceased), Massachusetts (107,611 infections and 7,938 deaths) and Illinois (138,540 positive and 6,770 dead).

In Pennsylvania there are 87,733 cases, of which 6,573 have resulted in deaths. Meanwhile, in Michigan, have been confirmed 68,555 infections and 6,114 deaths.

California currently has 192,537 infections and 5,677 deaths, while in Connecticut there are 45,899 infected and 4,277 deceased. Florida reached 109,014 cases and 3,281 deceased, at the time that Louisiana collects 52,477 infections and 3,152 deaths.

“People became complacent,” said dr. Marc Boom, director general of the hospital system Houston Methodist. “And the virus is returning and golpeándonos, frankly”.

The stock market plunged considerably on Wednesday after the resurgence of the virus cast a shadow over hopes for a quick economic recovery. The virus has been blamed for more than 122,000 deaths in the united States and more than 2.3 million of confirmed infections.

California, the most populous state, reported more than 7,100 new cases. The count in Florida grew by 5,500 in a day, an increase of 25% compared to the record of the previous week and three times the level just two weeks ago.

In Texas, which began to lift the restrictions of the confinement may 1, the hospital admissions have doubled, and the new cases to triple in two weeks.

Governor Greg Abbott told the channel KFDA-TV that the state goes through a “massive outbreak” and may require new local restrictions to preserve space for hospitalizations in some places.

In the eight hospitals of Houston Methodist in Texas, the count of patients with COVID-19 has increased threefold in the last month, at 312. Approximately 20% of the testing of coronavirus that are now the hospitals are positive, compared with between 2% and 4% in mid-may.

If that trend doesn’t change, the chain of hospitals with 2,000 beds would be 600 patients with coronavirus in the next three weeks and would be forced to cancel surgeries not essential, said Boom.

“We need everyone to behave perfectly and work together perfectly,” to slow down the rate of infections, said Boom. “When I see a restaurant or a business in which the people are not following the guidelines, where they are abandoning the caution, that makes me mad”.

In Arizona, the cases will likely exceed the capacity of beds in the hospitals of the state in the coming weeks if the trend continues, said dr. Joseph Gerald, a professor of political of public health of the University of Arizona.

“We are in serious trouble,” said Gerald, who called the state to impose new restrictions on business, something that the republican governor Doug Ducey has refused to do. Without such measures, says Gerald, the balance of deaths will occur at levels “unprecedented”.

Dr. Peter Hotez, an expert in infectious diseases, said that he is concerned that the states wasted the time they have left to prevent a crisis much greater.

“We are still speaking of subtleties, we are discussing if we should wear masks or not, and we still do not understand that a vaccine is not going to rescue,” said Hotez, of the School of Medicine, Baylor, Texas.

Initially, governor Abbott, also a republican, forbade local officials penalized or multaran people for not wearing masks when he began to be reopened by the state. After cases are fired, Abbott said last week that cities and counties could allow the business would require masks.

In Florida, several counties and cities have recently begun to require face masks in public places and penalizing businesses that do comply with the regulations of estrangement public.

In an indication of the change of the outbreak in the country, New York, Connecticut and New Jersey, announced that it will require visitors from states with high rates of infection must be quarantined for 14 days. It is a change from march, when the governor of Florida Ron DeSantis issued a similar order for the visitors to the New York area, where then were an increase in cases.

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the communities of the municipality, the other issue

On 28 June, voters will elect not only the councillors but also the community councils of municipalities, cities or agglomerations.

→ FIND the 28th of June the results of the second round of the municipal elections 2020

Today, there are about 1 250 public Establishments of intermunicipal cooperation (EPCI) which comprise a little more than 33 000 communes in France. When the municipal councils of all the municipalities members have been elected in the first round, the community councils were able to be installed at the end of may.

But it was enough that one community member is submitted to the second round for this installation to be postponed. Sunday, a number of elected mayors from 15 march guetteront the results of the ballot, may 28, to be mounted on the majority that will emerge at inter-communal level.

The seats of community advisors of an EPCIS are distributed between the lists having obtained at least 5 % of the vote. The list first gets half of the seats, the others are distributed proportionally.

The conquest of the cities more difficult for the environmentalists

The inter-communal groups, whose skills have continued to increase in recent years have budgets that far exceed those of the member cities. Their role will be critical to the economic recovery following the health crisis, the territorial communities, representing approximately 70 % of public investment, particularly in the CONSTRUCTION sector.

Intercommunal cooperation is also the place of strategic power for certain public policies such as transport or treatment of water or the environment.

In this regard, the challenge is particularly very important to the environmentalists. Following the good results obtained in the first round in major cities, EELV can expect a number of victories in cities such as Besançon (Doubs) and impose itself as a central force to the left.

But to prevail in the metropolitan areas, the case promises to be more difficult. The good scores achieved in the city centres are not as easy to replicate in the suburbs and peri-urban areas where the battle against the car is not necessarily a priority.

Negotiations in regional capitals

In the regional capitals, the question of metropolises has been the subject of negotiations, intense. In Strasbourg, socialist Catherine Trautmann hoped to condition his rallying to the candidate ecologist, release on 15 march, to the presidency of the group urban. In the Face of the refusal of the EELV, the socialists remained in the second round. Same scenario in Toulouse.

In Bordeaux, the outgoing mayor LR, Nicolas Florian threatened by the challenger and ecologist will be in case of victory in the town hall and will give the metropolis its new ally, the LREM Thomas Cazenave.

→ TO READ. Municipal 2020 : the candidates in Lyon for the second round

In Lyon, this is yet another case. The metropolis is the only association that has the status of a local community for a full year (since the merger of the city and of the department). On may 28, the citizens will proceed to the double election of municipal councilors, and those of the greater Lyon.

Maneuvers until 18 July

The ex-LREM Gérard Collomb, is an ally of the right. It was to allow his runner-up Yann Cucherat keep the municipality and dispose of in exchange for the seat of president of the metropolis in the event of victory to the candidate LR François-Noël Buffet. But, if Yann Cucherat clearly seems to be distanced by the environmentalists, it is impossible to know what majority will come out of the polls for the Grand Lyon.

After 28 June, the maneuvers, and reports of forces will be so far from being ended. On the 18th of July at the latest, the advice of all the groupings of communes will need to be renewed and installed, marking the end of the cycle municipal.

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what is the real issue for catholics ?

Due to a global pandemic, we are experiencing a time of totally unprecedented and a common experience of magnitude universal. For several weeks, we have all been deprived of the most precious, freedom. We even have experience with this deprivation with a docility almost eerily, the health seeming to now the horizon indépassable to lives confined in the dead-ends of consumerism.

This loss of freedom has affected all the realities of the society. It has also been given to the religions. The freedom of public worship has been reduced, limited to the strict necessary. In France, this area is sensitive and over-determined by our particular history in the past two centuries. In the field of religion and cults, the tensions rise quickly, the suspicion is almost permanent.

However, it should be noted that our country has benefited from a similar scheme to that of neighbouring countries such as Germany or Italy. Even more, the churches were only among the establishments receiving the public (ERP) open during the time of confinement. We could gather, celebrate the funeral. It should be remembered that the Holy Father presided at a prayer time simple and profound about a place St-Pierre empty ? That St Peter’s basilica has been reopened to the public for a few years, just like the Holy Sepulchre in Jerusalem ?

An action before the Council of State has enabled it to gain a few days on the calendar

The inability to celebrate publicly the cult has been a painful lack. Lack of the eucharistic body to the faithful ; the lack of the ecclesial body to the celebrants. When déconfinement, the conference of bishops, in regular link with the public authorities, and in spite of the tensions and negotiations inevitable on the occasion of a negotiation calendar on a delicate subject, prepared to be able to celebrate again with the approach of Pentecost.

Then came an action before the Council of State for a restoration of freedom of worship. The great interest of this initiative is to have given us a judgment of said Board, very important about worship. Another interest, especially a symbolic one : it has enabled it to gain a few days on the calendar, which was trading already.

One can then wonder about the effects of this action. It has, of course, product satisfaction is quite general. The sign given by Jesus in communion with Him and among the baptized was to be accessible again. But this sign of communion is, paradoxically, become the pattern of behaviours that challenge. Satisfaction has sometimes become immodestie, or even disdain, especially on social networks. At the beginning of Lent, Jesus called on us yet for the conversion, and the quiet and modest for the joy of the Father. And Pentecost has reminded us of the event authentic of the Spirit, among others, by the peace, the gentleness, the kindness. Some analysts observe that this action sign the marginalization of the catholic Church in society. When one uses methods of trade unions or political parties, it agrees in a certain way to be a (1).

To face death in solitude

But most of all, you may wonder about the issues of the mobilization of energy for the return of the cult and the little investment in what could seem to be an issue far more fundamental. Indeed, what is fasting, the eucharist next to the drama of so many people who, in spite of the dedication of the caregivers, have had to face death in solitude, without the support of their family, their Church, in hospitals, long-term care Facility ? What is the dehumanization of the death so that the way of treating the dead is one of the major signs that founds and characterizes humanity ? The ” whole health “, legitimized by a scientific discourse and technocratic which we are able to observe the wanderings, becomes the horizon indépassable of the new humanity that allows the restriction of freedoms and basic human rights ?

On this question of death, ” fly “, a person to excite social networks, person to mobilize lawyers, little world, evoking the abandonment of those who have gone without noise. If we do not want a new decommissioning of humanity, does it not there a real cause to defend ?

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Plastics, an issue became secondary under the effect of the Covid

It can be found already everywhere. In the streets, on the sidewalks, the lawns. “Sometimes within a metre of the bin “, laments Didier Tournoux, chief of service, cleanliness of the city of Besançon (Doubs). It recognises “between 30 and 50 surgical masks” picked up every day by its officers. “Psychologically, it’s not easy having to clean up potentially contaminated items “, he adds, disappointed of this lack of civility, after weeks to to recognize the work of garbage collectors.

→ INVESTIGATION. The mask is recyclable is not for tomorrow

To attempt to break the phenomenon, Brune Poirson, secretary of State for the ecological transition, has announced that all of jet masks, gloves, cigarette butts, as well as the deposits of wild garbage would expose him now to a fine of 135 € (compared to 68 €). Increased repression hailed by Didier Tournoux, as defenders of the environment, who worry about the impact of the crisis of the Covid on the waste and the proliferation of plastics (number of masks are made of polypropylene).

“The health challenge outweighs any “

The legitimacy of the actions barriers is not in question, but some behaviors are a challenge. The incivility, of course, while the ministerial recommendations are clear (after use masks, gloves, or handkerchiefs should be thrown in a bag securely closed, and himself disposed of with household waste residual). But not only that. “We see some drift, which is related to the fact that the health challenge outweighs everything, even some common sense “, note Laura Châtel, in Zero Waste France.

The head of the advocacy cited several examples. “The systematic use of wipes for the household, the return of plastic bottles in companies to the place of the water fountains company, the refusal of the containers personal in stores, etc “. In some dental offices, in addition to gestures barriers conventional, patients are invited to place their personal belongings in a trash bag… that will be discarded a few minutes later, after the consultation.

A delicate balance to find

Difficult to find the right balance between protecting health and the planet. But for Laura, Châtel, it should be “reconcile various imperatives, by being more clear on some of the recommendations. The blur enhances the excess on the outside packaging or the use of single-use in the restoration. Of course, she continues, the health risk immediate is real, but the ecological risk is also… “. Threats to the fauna, the flora, but also human health, since the microplastics scattered on a large scale can be found everywhere, including in our food chain.

→ ANALYSIS. Waste, the consumer facing his responsibilities

The situation is all the more frustrating that significant progress had been made : european directive of 2018 on single-use objects, the law on circular economy of February 2020 in France, awareness campaigns, etc, However, the environmental consultant Christian Zelosi shows himself reassuring. “We are in a strong trend, with long-term strategies and heavy investments for industrial, notes the specialist in consumer products. There will be no retreat on the single-use. “

It is also the analysis of Matthew de Chanaleilles, the president of Tri-o Greenwishes, accompanying large groups in the management of their waste. “In business, good habits will not be challenged “, believes the latter. It ensures that the quality of sorting among its clients “has not been started since the beginning of the crisis “ – and if the masks are found in the bins yellow, the phenomenon remains “marginal “according to him. On his side, Laura Buxton is pleased that the european Commission as the French government have “good view “ in the face of various pressures to amend or repel the environmental regulations, in particular in the field of circular economy.

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Several politicians of the ruling CDU defend the issuance of eurobonds to combat the coronavirus crisis

The President of the European Commission, Ursula von der Leyen, has spoken in favor of massive investments in community budgets. “We need a Marshall Plan for Europe,” says von der Leyen in an article that his own pen published on Sunday Welt am Sonntag. The EU budgets are accepted in all member countries as an instrument of solidarity balance and must be adequately adapted to the crisis. The European leader is convinced that the continent will soon recover. “The many billions that must be invested today to avoid a major catastrophe will unite the generations,” says Von der Leyen, for whom the crisis can also renew the feeling of community among the nations of Europe.

Several prominent politicians from the ruling German Christian Democratic Union (CDU) defend in the Sunday Frankfurter Allgemeinen Sonntagszeitung the issuance of common debt by the European Union, the so-called eurobonds, as an instrument to combat the coronavirus crisis. In view of the high death toll in southern Europe, one can imagine what “is happening in the souls of Italians, Spanish and French,” said Olmar Brok, a member of the CDU executive, in that newspaper. Due to the catastrophe affecting these countries, the issuance of “clearly defined and limited corona debt” as part of an aid package is “inevitable”. The Berlin government has so far rejected that possibility.

A broad conjunctural program and extensive tax cuts have called for the Bavarian Prime Minister, Christian Social Leader (CSU) Markus Söder, to revive the German economy after the coronavirus crisis. “When the first phase of immediate aid and credits has been completed, we also need a vital economic program for a similar amount,” Söder told Bild am Sonntag Sunday. Because the German export industry will suffer for a long time, it is necessary to encourage domestic consumption «And that means, not a single tax increase, on the contrary, tax cuts. The solidarity tax must disappear more quickly and for everyone, “said the president of the CSU, who noted that” we should also lower personal income tax so that as many workers as possible have more money in their pockets. ” Söder also calls for a separate program for the automotive industry in which the state encourages the purchase of green vehicles with a premium on innovation.

As a consequence of the coronavirus crisis, the German Industry Confederation (BDI) expects serious consequences for the German and international economy. “For Germany you have to count on a drop in GDP from 3% to 6%, said the manager of the BDI, Joachim Lang in the Sunday Welt am Sonntag. For this assumption, the industrial organization has a stop of economic activities of no more than six weeks. A “strong recession” will be inevitable in both Europe and the United States. According to BDI calculations, the economic contraction in the Eurozone will be from 3% to 5% and in the United States from 2% to 4%, while China, on the contrary, will register a growth of up to 2%.

German virologist Alexander Kekulé has warned football fans that not one more meeting with the public will be held for the remainder of the year due to the coronavirus epidemic. “From the current point of view I would not make plans for the remainder of the year for meetings with the public,” Kekulé said in remarks to the public television station ZDF. However, he commented that “it is virologically possible” to hold matches in the Bundesliga or the German Cup from May with empty stadiums and behind closed doors. “Everything is possible, but it would be necessary to reflect on how to explain to people that soccer receives special treatment,” said the doctor. For these parties, professionals should be isolated and regularly undergo Covid-19 analysis. In addition, all players should go out onto the field with masks.

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