Daily Digest 12/8 – Coral Recovery During a Prolonged Heatwave Offers New Hope, U.S. suffers deadliest week from coronavirus

Economy

He Thought Day Trading Would Be A Thrill. He Ended Up Losing $127,000

YouTube is filled with videos promising to teach you how to make big bucks trading stocks on your home computer. Matthew’s videos tell you how to lose money.

A real estate agent and amateur investor, Matthew, who prefers his last name not be used because of how it might affect his career, made thousands of dollars trading stocks over the years, only to lose most of it day trading.

Now, in his YouTube videos, he cautions others about the perils of day trading at a time when stay-at-home measures have led millions to buy — and sell — stocks for the first time.

San Francisco’s 35% Plunge in Rents Shows Effects of Tech Fleeing City

Tech stocks are soaring and high-profile initial public offerings are set to mint millionaires. Yet in San Francisco, the boom times are over.

The resurgent coronavirus has thrust the tech hub back into lockdown. Offices sit empty as work-from-home policies stretch indefinitely. While this week’s share sales of hometown companies Airbnb Inc. and DoorDash Inc. would typically have the city girding for a flood of wealth, many workers have already fled for the suburbs, Lake Tahoe or beyond.

U.S. suffers deadliest week from coronavirus since pandemic broke out

The U.S. has set another grim milestone in the coronavirus pandemic, averaging the most deaths from COVID-19 in a week since the start of the outbreak, as cases continue to rise across the country and hospitals fill with patients.

The U.S. averaged 201,756 cases a day in the last week and a record of 2,249 deaths a day, beating the previous seven-day average death toll of 2,232 set on April 17, the New York Times reported.

Why French Protests Pivoted to Police Power and Abuse

Thousands of people have taken to French streets over the past three years to express anger over rising social and economic inequalities. The outrage is now centered on tougher new security laws and police abuses. Large demonstrations were held in major cities across the country at the end of November.

How Effective Are Antibody Treatments For COVID-19?

The FDA has given emergency use authorization to two monoclonal antibody treatments for COVID-19 – bamlanivimab, produced by Eli Lilly, and a two-antibody combination developed by Regeneron. As science correspondent Richard Harris explains, emergency use authorization doesn’t assure that these new drugs are effective, but that their potential benefits are likely to outweigh the risks. On today’s episode, we look at how they work and why their impact on the pandemic could be limited.

Energy

Federal appeals court rejects Trump administration permit for offshore oil project in Arctic Alaska

A federal appeals court panel on Monday ruled that the Trump administration violated environmental requirements when it issued conditional approval of Hilcorp’s Liberty oil drilling project in federal Arctic waters off Alaska in 2018.

The Bureau of Ocean Energy Management “acted arbitrarily and capriciously by failing to quantify the emissions resulting from foreign oil consumption,” or at least by properly explaining its failure to do so, a three-judge panel of the U.S. Ninth Circuit Court of Appeals said in the decision.

Environment

Coral Recovery During a Prolonged Heatwave Offers New Hope

University of Victoria biologists have discovered how some corals managed to survive a globally unprecedented heatwave, in a first-ever study that provides new hope for the long-term survival of coral reefs in the face of climate change.

“The devastating effects of climate change on coral reefs are well known. Finding ways to boost coral survival through marine heatwaves is crucial if coral reefs are to endure the coming decades of climate change,” says UVic marine biologist Julia Baum, the study’s senior author.

The Arctic continued its unwavering shift toward a new climate in 2020, as the effects of near-record warming surged across the region, shrinking ice and snow cover and fueling extreme wildfires, scientists said Tuesday in an annual assessment of the region.

Rick Thoman, a climate specialist at the University of Alaska and one of the editors of the assessment, said it “describes an Arctic region that continues along a path that is warmer, less frozen and biologically changed in ways that were scarcely imaginable even a generation ago.”

Gold & Silver

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