Wednesday, April 15, 2020

THE ECONOMIC SHUTDOWN could will kill more Americans than the coronavirus.
The academics and public health officials who have concocted models of the virus's spread are telling us that we have to continue the shutdown to save thousands of lives. But none of their models considers the deaths that will be caused by unemployment.

Before the virus hit, America's unemployment rate was 3.5%, the lowest in 50 years. Now Goldman Sachs predicts unemployment could spike to 15% by midyear. A St. Louis Federal Reserve economist grimly predicts 32% unemployment -- worse than during the Great Depression.

No model or guesswork is required to foresee the deadly impact. Job losses cause extreme suffering. Every 1% hike in the unemployment rate will likely produce a 3.3% increase in drug overdose deaths and a 0.99% increase in suicides according to data provided by the National Bureau of Economic Research and the medical journal Lancet. These are facts based on experience, not models. If unemployment hits 32%, some 77,000 Americans are likely to die from suicide and drug overdoses as a result of layoffs. Scientists call these fatalities deaths of despair.
Only we'll never be told by our ruling class. Read it all anyway.

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