"Smart sentiment of the day: When billionaires start planting potatoes, it's time to take notice. The wealthy elite are starting to invest heavily in tangible assets like real estate and commodities. Citibank predicts Bitcoin might experience significant growth in the coming year.
Food insecurity remains a pressing issue in the US, exacerbated by the pandemic. Over a quarter of households with children are struggling with food insecurity this year. Long lines for food assistance programs are becoming a regular sight:
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Tens of millions of Americans face the loss of unemployment benefits just after Christmas as more CARES Act programs expire. Last week saw nearly 750,000 new unemployment claims. For eight consecutive months, weekly initial jobless claims have been worse than the worst figures during the Great Depression.
The global tally of COVID-19 cases has surpassed 57.1 million, with over 4.1 million new cases reported since last Thursday. The US accounts for over 12 million cases, adding over a million in just a week. Over 258,000 Americans have died—almost 2,000 in the past 24 hours. The US continues to lead the world in case growth.
Despite travel restrictions, air traffic in the US is still down by about half compared to pre-pandemic levels. People seem unfazed by current case numbers when it comes to holiday travel, similar to trends seen in the summer and spring.
The transition process for the incoming administration isn't progressing, and consequently, vaccine distribution planning remains stalled:
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A home-use COVID test has been approved by the FDA:
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Pfizer’s vaccine efficacy has risen to 95% in final trials. They plan to apply for FDA authorization soon. The vaccine also shows promising results in the elderly population, with efficacy at 94%.
If you're having trouble finding toilet paper and other essentials again, you're not alone:
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Los Alamos National Laboratories is experiencing a major outbreak.
The Oxford/AstraZeneca vaccine appears effective in people over 70 as well.
Hospitals across the US are grappling with severe staffing shortages. Currently, 25 states are affected, and this number will likely rise as cases increase and more healthcare workers fall ill. At the Mayo Clinic Health System, nearly 1,000 employees have contracted the virus in a short span of time:
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Our estimates of the case fatality rate have improved with better testing, but many cases remain undetected. Based on a model factoring in symptom and reporting delays, we predict that 1,800 out of every 100,000 cases will result in death. With over a million new cases weekly, the potential for fatalities is alarming. Hospital systems are nearing capacity, and this projection might be conservative.
California has implemented a partial lockdown and a month-long curfew starting at 10 PM:
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As cases surge, we must remain vigilant and follow public health guidelines to protect ourselves and our communities."
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