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Are We Doing The Right Thing?  

An increasing number of countries around the world are closing borders and locking down cities to stem the spread of the Wuhan COVID-19 coronavirus, but this approach simply isn’t sustainable and could send dozens of countries over the economic cliff.  The stakes are huge and power politics, nationally and globally, are at play like never before.

In Canada just last month, we had an excellent example of a situation that was allowed to get crazily out of control due to inept governments (federal and provincial), the power of social media and the cheerleading of an agenda-driven mainstream media.  A handful of anarchist “hereditary chiefs” – a bunch of bad actors who are also climate change extremists – and a relatively small contingent of anti-capitalist professional protestors (some of them foreign-funded) stirred up a frenzy and shut down large parts of our national rail system and other critical infrastructure over an already-approved $6 billion jobs-rich LNG Project.  These individuals were highly skilled at social media, and many members of the mainstream media eagerly helped pour gas on their fire.

The same federal government that tripped over its own feet and allowed significant economic damage to be inflicted upon Canada during those few weeks in February is now telling us what we need to do to win the war against an invisible enemy known (except among the politically correct left) as the Wuhan virus.  Our Prime Minister is so astute about these matters of standing up for Canada, and protecting Canadians’ health and the Canadian economy, he refused to impose a travel ban on China, the source of the virus, in late January/early February.  “There is no place in our country for discrimination driven by fear or misinformation,” Trudeau actually said, though his decision not to act in the best interests of Canadians was driven by fear of retaliation by communist China.

A growing chorus of people are coming to the conclusion that the current “remedy” for the Wuhan COVID-19 virus is actually worse than the “disease”, which for the vast majority of individuals resembles the common cold or flu. Ordinary people, medical experts, business and political leaders are starting to question the idea of a self-imposed shutdown of economies and unprecedented government spending (record deficits and debt) and intrusion into our daily lives.

Vancouver grocery store, March 23.

How much economic cost can we bear, how much government debt can we rack up, and how many people’s livelihoods are we prepared to destroy, all in a bid to save an unknowable number of lives infected by the Wuhan virus? The virus must be taken seriously but a more targeted approach – one that efficiently tests far more people, isolates those with the virus, and protects society’s most vulnerable – is the only sustainable path forward.

Latest developments:

• Total number of confirmed Wuhan virus cases across Canada now stands at 2,792 while the death total has climbed to 26;
• After hours of tense negotiations, the government and opposition parties in the House of Commons are nearing a deal on a massive $82 billion aid package for the tumbling Canadian economy.  Trudeau has faced stiff backlash over his incredible original proposal to grant cabinet extraordinary powers to borrow and spend without Parliamentary approval;
• Non-essential businesses in Ontario have been ordered to close.  Ontario’s inept testing for the Wuhan virus is coming under increasing attack – people are waiting up to a week to receive results, and only 3,000 tests are being conducted each day;
• The Wuhan virus is driving the natural instinct of British Columbia’s NDP socialist government to spend money it doesn’t have.  The NDP has announced $5 billion worth of initiatives ($2.8 billion on people and services, and $2.2 billion on businesses and “economic recovery in the future”) to combat the virus.  B.C. officially has more than 600 confirmed cases.  However, the limited number of people in ICU for the virus roughly approximates the number of people in ICU for the regular seasonal flu.  Health Minister Adrian Dix has said provincial health orders in response to the pandemic would remain in place until at least the end of April. Those orders include the closure of bars, restaurants and personal service businesses, as well as a ban on gatherings of more than 50 people.  People are required to keep 2 meters apart when out in public;
• Around the globe, Singapore has announced more lockdown measures tonight – its most stringent so far. Bars, clubs, cinemas and other entertainment outlets will be shut from Thursday until April 30.  The government also ordered malls and restaurants to reduce crowds if they were to stay open.  All religious services have also been suspended.  Despite being one of the earliest countries to report the outbreak, Singapore has not imposed a full shutdown, with schools, offices and shops staying open.  The number of cases in the city-state started climbing last week.  There are now 558 cases in Singapore;
• New Zealand has declared a state of emergency and prepared to go into complete lockdown starting at midnight for a month.  People are encouraged to self-isolate as all non-essential services close.  In neighboring Australia, officials have warned that the surging number of cases could start overwhelming the country’s intensive care units.  Australia has just announced new restrictions this evening which limit the number of people at weddings to 5 and capped funeral attendance at 10.  More non-essential businesses will also be shut;
• The White House and Senate leaders reached a deal late tonight on a massive $2 trillion coronavirus stimulus bill to combat the economic impact of the outbreak;
• In a Fox News virtual town hall this morning, President Trump expressed concern that the country could see an uptick in suicides should the coordinated economic slowdown aimed at preventing the spread of the virus continues much longer, citing Americans’ desire to get back to work.  “You’re going to lose a number of people to the flu, but you’re going to lose more people by putting a country into a massive recession or depression,” Trump said.  “You’re gonna lose people.  You’re gonna have suicides by the thousands.”  In the latest Gallup poll just released, Trump’s approval rating has hit 49%, matching his best performance ever in that poll;
• Brazilian President Jair Bolsonaro is a breath of fresh air with a dissenting opinion on draconian government measures to combat the Wuhan virus.  In a televised address this evening, he took aim at the “hysteria” over the coronavirus and urged that life must continue and jobs be preserved.  “We must return to normality,” he said. “The few states and city halls should abandon their scorched-earth policies.” Coronavirus deaths in Brazil have climbed to 46 from 34 with the number of total cases at 2,201, up from 1,891.

Sona Nanotech (SONA, CSE) 

In the midst of a national and global pandemic, also creating economic upheaval, Sona Nanotech (SONA, CSE) and its partners including GE Healthcare Life Sciences (a subsidiary of GE Electric – GE, NYSE) are urgently taking a working prototype of the world’s most advanced lateral flow Rapid Response Test for the Wuhan COVID-19 virus to the manufacturing stage, with the first pre-orders expected any day now.

We are in a war against the Wuhan virus.  How we fight this war is critical.  SONA, GE and their partners have the weaponry to help us win this war in the smartest and most efficient ways possible.

The SONA-led consortium is a classic example of how entrepreneurship and the private sector are integral to pulling us out of a nightmare scenario that has become reality for North Americans and billions of people elsewhere in the world.

GE, of course, is the only company that has been part of the Dow since the 19th century.  The players involved in this mission – SONA, GE, Bond Digital Health, The Native Antigen Co., and individuals such as SONA CEO Darren Rowles and scientific advisers Fiona Marshall and Sandy Morrison – are the best at what they do, and their project is already being labelled a “major milestone” by health agencies across the world.  These agencies are scrambling to find creative ways to test for a highly infectious virus while reducing the severe stress on frontline healthcare systems.

SONA has been one of the best performing stocks in the world over the past 6 weeks, initially uncovered by BMR when it was trading at just 30 cents.  We’ll have a subscriber update pre-market tomorrow.

Note:  John and Jon hold share positions in SONA.