Strangling the economy to protect against the
coronavirus causes shortage of money, additional debt, untreated illnesses, loneliness,
inactivity, overeating, alcoholism, domestic violence, and other problems that
can result in depression, deaths, and even suicides.
Also, the constraint of supply, coupled
with government’s massive stimulation of demand, will cause higher prices.
For older people, isolated care is fine.
But for most others, the best defense is to develop immunity by modest exposure
to the virus. Otherwise, when people again co-mingle, a second wave of the
disease is likely.
California has far fewer coronavirus
deaths than New York, probably because California had many visitors from China
from December on and developed immunity.
Sweden remains open. It is using a
laissez-faire, targeted approach and not decimating the economy. Influenced by
frequent expert advice, the people themselves decide what they’ll do. Sweden’s coronavirus
deaths, divided by the total population, are higher than that of the U.S. (.0047%
versus .0029%). But the percentages for both countries, as you can see, are infinitesimal.
Italy has Europe’s oldest population and
the most smokers. Also having the highest rate of coronavirus deaths is no
coincidence. Worldwide, deaths with the
coronavirus are far more numerous than deaths caused by it.
At this writing on April 6, U.S. coronavirus
deaths, according to worldometers, number 9,624. Eventual reported deaths will
likely fit into the yearly range of panic-free influenza deaths, namely,
30,000-to-45,000. Imprudent Fed projections, currently up to 240,000 deaths,
result only in panic.
Widespread lockdowns are unwise.
