MasterFeeds: May 2020

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May 26, 2020

#Quarantine High: #Cannabis Sales Surged in #Canada During the Lockdown

 
Cannabis sales in March 2020 totaled CAD 181.1MM, a nearly 200% increase from March 2019 sales of CAD 60.9MM! 

Retail sales of regulated cannabis in Canada surged by 19% in March, reaching a record CAD 181.1MM. The spike in cannabis sales in March came even as overall monthly retail sales in Canada declined 10%.

Retail cannabis sales grew month-over-month in every province except Prince Edward Island, which is a very small province on the east coast of Canada, where cannabis stores closed March 19, then reopened on May 22. 

On an annual basis, the CAD 181.1MM. sold in March represents a nearly 200% increase from March 2019 sales of CAD 60.9MM.

May 19, 2020

Jesus Christ was also misunderstood, #Softbank’s Masayoshi Son tells investors

No comment.....  just a lot of laughs. 

No one has lost more money betting on "Tech" than Masayoshi Son. First in the dot com bust and now with his "Vision" Fund... He always ends up drinking his own Kool Aid...

"As analysts pressed him on its poor performance so far during an investor call on Monday, Mr Son noted that Jesus was also misunderstood and criticised...

"Mr Son, who has in the past quoted Yoda from the Star Wars films and urged investors to "listen to the Force", also suggested the Beatles had not been popular when they first started."

Jesus Christ was also misunderstood, Masayoshi Son tells investors

SoftBank founder defends $13bn annual loss by comparing himself to the Son of God

     Masayoshi Son also suggested the Beatles had not been popular when they first started © Bloomberg

Masayoshi Son compared himself to Jesus Christ while defending his investment strategy, after disclosing that SoftBank had run up a record $13bn annual loss on Monday.

The 62-year-old founder and chief executive of the Japanese technology conglomerate has vowed that his $100bn Vision Fund will tackle "the biggest challenges and risks facing humanity today".

Read the whole story here: https://www.ft.com/content/d01fe70a-598f-4e6f-becc-2a002d6187b8 


May 14, 2020

US #Jobless Claims Just Under 3 Million, Higher Than Expected

This brings the total US jobless claims in last 2 months to +36 Million


U.S. Jobless Claims in Millions Again, Higher Than Expected

https://www.bloomberg.com/news/articles/2020-05-14/u-s-jobless-claims-remain-in-millions-for-eighth-straight-week

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May 7, 2020

What Will #China’s Relations with the Rest of the World Be Like After the #Coronacrisis?


China After the Pandemic, is the subject of the latest issue of Strategika  (https://www.hoover.org/publications/strategika ), the Hoover Institution's International Security focused publication. It provides some excellent analysis on the future of China's relationships with the rest of the world in the wake of its actions during the coronavirus pandemic. 


Here is the first thought piece from the latest issue. 

The Coronacrisis Will Simply Exacerbate The Geo-Strategic Competition Between Beijing And Washington


Poster CC 194, Poster collection, Hoover Institution Archives.
Even before the outbreak of the novel coronavirus in Wuhan, China late last year, the Sino-U.S. relationship had been in a period of flux. Since coming to office in 2017, President Trump made rebalancing ties with China the centerpiece of his foreign policy. Claiming that it would no longer be business as usual with Beijing, Trump began to respond more forcefully to what he had long claimed were unfair Chinese trade practices, cyberespionage, military intimidation, and global propaganda campaigns. Yet the COVID-19 pandemic raised even more fundamental questions about the state of U.S.-China relations and how the two appear to be locked into a more antagonistic dynamic for the foreseeable future.
Unlike in the early months of the pandemic, it is now increasingly accepted that the Chinese Communist Party (CCP) and its local officials ordered a cover-up of what was happening in Wuhan. From intimidating whistleblowing doctors to a silencing of social media, and from destroying laboratory samples to buying up billions of pieces of personal protective equipment such as masks and gloves from around the world, the common wisdom now sees that the CCP prioritized protecting its own reputation and forestalling any domestic or international criticism of the kind that damaged it during the 2003 SARS cover-up. Most egregiously, Beijing lied to the World Health Organization about the nature of the virus in Wuhan, falsely claiming that there was no evidence of human-to-human transmission. This, and the decision not to restrict Chinese travel abroad during the Lunar New Year, destroyed any meaningful attempts to contain the virus inside China, and instead allowed it to ravage the globe.
As the scale of the catastrophe became clear, the party-state orchestrated a worldwide propaganda campaign to portray Beijing as successful in its battle against the coronavirus and as having selflessly helped the rest of the world, from "donating" medical supplies to sharing scientific information. Indeed, Chinese officials went so far as to claim that the United States created the disease and planted it in China.
Beijing's propaganda campaign, while designed to divert any criticism of the regime, has poisoned relations with Washington, not to mention other countries, and is likely to result in an intensified bout of counter-campaigning from the United States. As Beijing steadfastly refuses to acknowledge any shortcomings in its response to the coronacrisis, voices across the globe are understandably questioning how it can be trusted as an international actor. The new dynamic in China's relations with the world will be a deep-seated distrust of Beijing's statements.
Moreover, Beijing is slowly reaping the fruits of its decision to denude the world of needed medical supplies and then sell defective masks and virus tests to numerous countries. Across Europe and Asia, governments are returning shoddy equipment and useless tests, sometimes after having paid tens of millions of dollars for them, as in the case of Spain, which bought $497 million dollars-worth of items that it declared were unusable. In the case of Great Britain, all 3.5 million antibody test kits the government ordered failed to work properly, and were returned. The ill-will that Beijing has engendered by selling back items that were sometimes donated by countries, as in the case of Italy, or providing defective equipment will further drive a wedge between China and those countries that now see it as an untrusty partner with whom a buyer must beware when doing business.

May 5, 2020

The longer the world has to endure a 90% economy, the less likely it is to snap back after the #pandemic.

Leaving lockdown is a process, not an event.  

"Government schemes will save businesses in the short term, which is welcome. But those designed to preserve jobs risk eventually creating zombie firms that neither thrive nor go bankrupt, slowing the recycling of labour and capital."

Read The 90% economy from The Economist here: https://www.economist.com/leaders/2020/04/30/life-after-lockdowns?frsc=dg%7Ce

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