Central Planning Failure?

April 19, 2020

Get ready to hear even MOAR panic than we have been hearing up until now. I thought we were about to go over the top of the curve?

OK, so what has changed? Random testing of people for anti-bodies has begun and I suspect the CENTRAL PLANNERS will be shocked, I tell you, shocked.

Before becoming alarmed I recommend that you watch this video of an interview with Dr. Jay Bhattacharya.

If the test results obtained by Dr. Bhattacharya are accurate, the virus has infected far MOAR people than previously thought. If you listen at about 12:20, Dr. Bhattacharya said that a lot of people who had it, probably never knew they had it. Dr. Bhattacharya admitted the error rate of the testing has not been solidly quantified.

Now this type of test has been conducted elsewhere. See here and here.

I think Dr. Bhattacharya interpreted his results as positive. His tentative conclusion is the virus mortality rate is far less than previously thought and that it may be safe to “lift the caps” in some areas.

My fear is this will be seen negatively and we will double down on the current policy, because it appears the virus is MOAR widespread than thought. If we keep on this course, we might run out of food.

I think that we are seeing the parable of the broken window playing out before us.

The parable seeks to show how opportunity costs, as well as the law of unintended consequences, affect economic activity in ways that are unseen or ignored. The belief that destruction is good for the economy is consequently known as the broken window fallacy or glazier’s fallacy.

In the broken window parable, people only focus on what they can see (naturally). They do not consider the costs they cannot see. Our response to the virus has led to all sorts of consequences that won’t be seen. An example is the Mayo clinic is anticipating a big revenue shortfall (32:40) because elective surgeries have been postponed. Peter Robinson talked about the lack of a cost/benefit analysis (31:49). He also talked about the cancers that would go undiagnosed because of the shut-down. There are many costs that are not seen. At about 34:02 Dr. Bhattacharya spoke about the health effects of a depressed economy. A depressed economy destroys people’s health. The first victims are the poor.

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