Wednesday, May 6, 2020

Let's Stop the Economic Suicide, and Get Back to Work

From RealClearMarkets:
A global study published in Israel by Professor Isaac Ben-Israel, chairman of the Israeli Space Agency and Council on Research and Development, shows that “the spread of the coronavirus declines to almost zero after 70 days—no matter where it strikes, and no matter what measures governments impose to try to thwart it.”
In fact, by impeding herd immunity, particularly among students and other non-susceptible young people, the lockdown in the U.S. has prolonged and exacerbated the medical problem. As Briggs concludes, “People need to get out into virus-killing sunshine and germicidal air.”
This flu like all previous viral flues will give way only to herd immunity, whether through natural propagation of an extremely infectious pathogen, or through the success of one of the hundreds of vaccine projects. No evidence indicates that this flu was exceptionally dangerous. On March 20th, the French published a major controlled study that shows no excess mortality at all from coronavirus compared to other flues. SARS and Mers were both much more lethal and did not occasion what Briggs’ reader “Uncle Dave” described as “taking a hammer and sickle to the economy.”
We now know that the crisis was a comedy of errors. The Chinese let it get going in the raw bat markets of Wuhan. But together with the Koreans, the Chinese dithered and demurred and allowed six weeks of rampant propagation to create herd immunity before they began locking everyone up. Therefore, the Chinese and Koreans were among the first to recover.
The Italians scared everybody with their haphazard health system and smoking fogies. Crammed together in subways and tenements, the New Yorkers registered a brief blip of extreme cases. Intubations and ventilators turned out not to help (80 percent died). This sowed fear and frustration among medical personnel slow to see that the problem was impaired hemogloblin in the blood rather than lung damage.
The New York media piled on with panic, with bogus reports of rising deaths. “Coronavirus deaths” soared by assuming that people dying with the virus were dying from it and then by ascribing to the coronavirus other deaths among people with symptoms of pulmonary distress, even without being tested. (Read more.)
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