What the Media Can’t See About COVID-19
If it causes a genuine economic collapse, they don’t get to keep their stuff.
by David Catron
April 13, 2020, 12:08 AM
The disappointment was palpable in every syllable of the headline: “Everything Is Awful. So Why Is the Stock Market Booming?†The author of this New York Times “analysis,†Neil Irwin, was clearly confused by the refusal of investors to head for the life boats: “Death and despair are all around,†he wrote, “Yet at Thursday’s close, the S&P 500 was up 25 percent from its recent low on March 23.†Last week’s rally should not, however, have come as a surprise to a professional market watcher. It was obviously the result of good news concerning the COVID-19 pandemic and a commitment by the Federal Reserve to keep the economy afloat.
There really is good news concerning COVID-19, and it isn’t limited to the dramatic downward revision in the fatality projections produced by the University of Washington’s vaunted IHME model or even that the daily death rate will peak far earlier than previously projected. While the Fourth Estate indulges its ghoulish fixation on “death and despair,†the most reliable indicator of the pandemic’s future trajectory — daily hospital utilization — suggests that the states hardest hit by the virus may well be on the road to recovery. In New York, COVID-19 hospitalizations and ICU admissions have plummeted:
Just 85 COVID-19 hospitalizations were reported Saturday — the lowest since at least March 16.… New ICU admissions and ventilator intubations are hovering in the 100-patients-per day range, just a third of the rate from a week prior — with a record low 56 patients admitted to intensive care wards.
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https://spectator.org/what-the-media-cant-see-about-covid-19/
