FIVE PART THREAD ON SITUATION IN #VENEZUELA:
The crisis inside the country has taken a rapid & catastrophic turn over the last 72 hours. As bad as the humanitarian crisis was before,since Thursday it has become increasingly horrific.
1/5
2/5
We are approaching 72 hours of a nationwide electrical blackout. Already facing growing food shortages,remaining food is spoiling & the prospect starvation is many is now real.
3/5 Already facing severe fuel shortages,generator use has further depleted supplies. In the next few hours more generators will stop at hospitals because fuel is running out. Making matters even worse is that internet & cell service makes communications increasingly difficult.
4/5 As of 8:30pm last night 17 deaths have been reported in hospitals due to lack of electricity. The true number is higher.
Patients on life support,in neonatal ICU have died & more will die in coming hours. Dialysis patients face certain death if they don’t get services soon.
5/5 Experts warned for months that years of #MaduroRegime negligence would lead to this collapse of electricity system. And regime does not have the expertise to fix it.
If massive amounts of aid isn’t delivered very soon, I fear we are headed for an unprecedented catastrophe.
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1. Goal of lockdown wasn’t to stop virus,it was to “flatten the curve”& buy time to improve testing & treatment & to increase hospital capacity
2. Couldn’t lockdown forever & always knew reopening would lead to case increase (cont) 1/5
3. The real issue isn’t the big spike in cases,it’s whether the spike is higher than we expected & whether this subsequently results in a big spike in the death rate
4. So far the growth rate of new cases is up 17% but the daily death rate is down over 60%,BUT.....(cont)2/5
5. There is a 3 to 4 week lag time between infections & death
6. The numbers provide us both insight into what would lead to a death rate surge & guidance on what we should be doing RIGHT NOW to prevent that from happening.(cont)3/5
-We have clear reasons to believe Antifa is responsible for violence at protests
-And we should be concerned about anti-govt extremists who are online calling for attacks on police
Because both aim to destroy America
2/4: Yes, ANTIFA is a real collection of autonomous & violent radical groups & at multiple protests the violence comes from organized groups dressed & equipped like ANTIFA & using the same tactics as ANTIFA
Those being arrested often post bond with help of celebrities
3/4:Loosely organized groups who hate the police & want a 2nd Civil War is also real
During the last week some are on private social media chats calling for attacks against police
They are described as “far-right”. But they are really anti-govt/anti-American insurrectionists
1/7: Despite challenges that come from being a massive new program less than 3 weeks old #PPP has:
-1.6 million #PPPloans averaging $206000
-74% for less than $150000
-Has helped save approximately 30 MILLION jobs
#PPP UPDATE 1/7:
I continue to see lots of misinformation reported & repeated on PPP.
This program is new to everyone,so not claiming its intentional.
But we can’t address the problems if we don’t understand how to distinguish between what WAS a problem & what IS a problem.
#PPP UPDATE 2/7:
1st: Yes lots of confusion early on . Because no one on earth had ever done a #PPPloan until 11 days ago.
But lenders received clear guidance on the most important open questions last Thursday from Treasury & last Friday from Federal Reserve.
#PPP UPDATE 3/7:
2nd:Main reason some #smallbusiness having trouble getting into PPP is banks are overwhelmed with applications. Even the biggest banks are struggling with the level of demand.
One of the characteristics of crisis is that demand is greater than initial capacity.
#PPP UPDATE 1/7:
As of 2:30pm yesterday we had:
=Over 480000 #PPPloans made
=Over $124 billion approved
=Covers an estimated 12 million jobs
Despite early challenges over 35% of funds have been committed in first 5 days.
Why we need more 💴 for PPP ASAP
#PPP UPDATE 2/7:
Status of issues still being reported in the media.
Banks Only Lending To Existing Customers:Treasury released non-bank lender application to approve new non-bank lenders into PPP. Will allow businesses without existing customer relationships to access PPP
#PPP UPDATE 3/7:
Lender Liquidity:
-@federalreserve announced further details for its lending facility to create a secondary market for #PPPloans on Thursday
-@FDICgov relaxed regulations on banks’ leverage ratio for all PPP loans on Thursday.
UPDATE on #PPP in thread below:
1/7: Several large FinTech companies are ready to join as lenders as soon as @USTreasury releases their nonbank lender form. This is very important as it will expand lending capacity dramatically especially for #SmallBusinesses locked out by bank
#PPP UPDATE 2/7: Still waiting for @SBAgov & @USTreasury to release a program guide for #PPPloans which would provide clarity on a number of questions still holding back some lenders. We need this NOW.
#PPP UPDATE 3/7: @federalreserve announced today it will help clear up more space on lender balance sheets to issue #PPPloans by either making #PPP more attractive to secondary market buyers, or by buying #PPP loans from lenders directly. Details this week.