by Doug Noland
Credit Bubble Bulletin
We’re now only a few days from the most pivotal of elections. Meanwhile, new U.S. Covid infections have surged to pandemic highs (Friday surpassing 100,000 on worldometers), with the virus running rampant throughout the country. The early-winter season spike in European cases is nothing short of shocking. Across the continent, governments are being forced to move swiftly to impose restrictions and limited lockdowns.
A few data points: Daily infections in France averaged about 550 during June. They had surged to 13,970 by the first day of October. A record 52,013 infections were reported last Sunday and 49,000 on Friday. Daily Italian infections peaked at 6,557 on March 21st and then averaged below 300 for much of the summer. Infections jumped to 2,548 on October 1st and were a record 31,084 Friday.