By V F - The Chicago Economist
March 17, 2020 "Information
Clearing House" - I’m beginning to
believe the current “pandemic” is perhaps just the
latest contrived “enemy of the state”. An
opportunity taken by western governments that have,
over the past 20 or 30 years, gotten bolder in their
willingness to fabricate fear to secure a political
end. Political ends are always about greater
control, corruption, and ultimately, cover ups.
In the age where air has become second to digital
noise in terms of ubiquity, and hyperbole has
replaced truth as the journalistic objective,
governments’ ability to leverage misinformation
(i.e. propaganda) has become a precision tool. Like
it or not, society has become confused by the amount
of information thrown at us and that makes us
susceptible.
But if this is contrived political hysteria, what is
the objective?
I’ve heard people on either side of the aisle
suggest it is to help or hurt Trump. And perhaps, it
is that simple. However, given equally good points
on both sides of that argument I am skeptical. So
then what? Well, I think back to 9/11 and whether
you believe it was an act of terrorism by our own
government or some other group, the end result was
the same - The Patriot Act, and a truckload of
knock-on legislation that quietly edged out our
individual rights and freedoms. All in the name of
keeping us safe from harm.
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Ok, but do we see any of that happening
as a result of this current narrative? Of
course. Right now a bill is making its way
through Congress that most legislators, have
admittedly, not read but are ready to
approve. And perhaps the most glaring action
is the $5 trillion financial bail out that
took place over the weekend. This is by far,
the biggest financial industry bailout ever
to take place, at least on this planet. Most
Americans have no idea a bailout is taking
place and those that do will never come to
know that the bailout began in early
September. On September 2nd, the Fed began
its second epic “bank bailout”. That is, it
has nothing to do with the virus.
And it isn’t just banks but the entire sport
of speculation that require a bailout. The
leverage inherent in the sport of
speculation, across all asset classes, has
created an aggregate risk position so large
there is no longer enough cash to cover the
margin call.
And this is where we’ve run into trouble. In
2008, we had levered specific collateral
instruments up using nonsensical economics.
At the time I was studying financial
engineering at Chicago Booth. I graduated in
December 2008, after spending 2 years
studying the models that were proving, in
real time, to be absolutely wrong and
creating massive pain for the bottom half of
the economic food chain. To crawl out of
that mess we printed trillions of dollars to
bail out the large risk positions that had
earlier created immense wealth for those on
the top of the economic food chain.
This past weekend, once again the Fed
announced a $5 trillion bailout and it went
completely unnoticed by the public because
we are distracted by a “world ending virus”.
The largest financial bailout in the history
of the world and nobody knows it happened
because the focus is on a virus that to
date, has resulted in 50 deaths in America
(at the same time 8,000 deaths have resulted
from the flu in America).
I am constantly having Italy being thrown at
me as evidence the virus is going to wipe
out humanity. So I decided to look into
Italy, specifically. What I found is that
Italy has about 16K flu related deaths each
year. That’s a little over 2K flu related
each month of the 7 month flu season. And
here are Italy’s Covid figures.
The new cases are in decline and the total death
count in the 2 months since the outbreak began
there, is at 2158, so about 1K per month (half
that of the flu during the same period). And
Italy is the worst case scenario in terms of
mortality rate (fatality to recorded infections
- yes this is a less than ideal statistic in
terms of meaningfulness). Germany, for instance
has an incredibly low mortality rate.
And let me be clear, I’m not saying we
shouldn’t take this seriously. My point is
whether or not the severe response from
western governments is a reasonable response
given the “threat”.
In 2009, the Swine Flu hit America’s shores.
Let’s look at the spread and mortality
figures of the Swine Flu outbreak that went
almost unnoticed by the public and media. In
fact, I had no idea Swine Flu hit our shores
until the writing of this article. As of
mid-March 2010, the U.S. Centers for Disease
Control and Prevention (CDC) estimated that
about 59 million Americans contracted the
H1N1 virus, 265,000 were hospitalized as a
result (0.4% of the estimated total number
of people who contracted it), and 12,000
died (0.02%).
Now let’s compare the US Covid outbreak to
date.
"Source"
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