Fear Economics - Wuhan Crisis

 Fear Economics - Wuhan Crisis

What value would the insurance industry put on the life of a person 80 to 100 years old, retired, in-firmed and/or living in a nursing home. Ask any insurer what value he would put on the life of a person during this Covid crisis that is classified as “vulnerable,“ not working, and susceptible to outside health scares.   It might surprise you as to how low the figure would be.  Today the loss of personal annual income amounts to between $30 million and $50 million per Covid death, the vast majority of which are elderly or vulnerable, most not working anyway.  Something to consider. 

What is going on during this coronavirus pandemic? Who is directing this painful lockdown? There are factions seeing a ‘falling sky’ and power mongers that want to slow everything down so the do-it-there-way agenda can progress. These people I would call ‘economy subversives.’ Their thinking is that the use of less energy, less consumerism, less travel, less population, less industrial production, less construction and less growth, is good for the world. These are the climate control, or global warming, personalities. They do not want growth in an economy. They live with fear, and readily proclaim their fears to whomever will listen, and publicize. . A typical example would be as the population continues to grow there will be food and water shortages. This has not happened. Innovation is such that as the numbers grow so increases the productivity of crops to enable us to feed the people. It may be a God thing.  Properly incentivized people will find a way.  In fact history has shown that populations have grown and with innovation we’ve actually achieved levels of food to the extent that there were significant surpluses.  

Which side is the ‘no-growth side,’ is it the liberal left, or the conservative right? I think you know the answer. But here is an important issue. In societies where there is economic growth, prosperity, there is a desire to have clean water, clean air, minimal pollution, and surroundings which are conducive to good health. Thus productive economies are healthier. 

I am all for prosperity. I am also aware when precautions need to be taken.  But we must live not on fear, but on an understanding of facts, getting the facts, and finding solutions as necessary to be able to continue to progress. We need to be alert to locations when the fear mongers appear and improperly address issues in their effort to scare us. In this Coronavirus climate the scare was so great that the world economy was shut down. 

The Main Stream Media  (MSM) is consumed by the ‘sky-is-falling’ Koolade and is doing more harm than good. They seem to subject their constituents to panic, their words having an effect, more opinion than fact, failing the country with their distorted journalism, and fake news. Are many in the MSM doing research or simply relying on talking points provided freely by bias driven supporters.  It is more their views that actual news. Will they achieve their ends? Will it be clean or less water?  Will there be less pollution? Will there be less poverty?  I doubt it. 

We do not need lazy populations; we need energetic populations that want to go out and prosper for themselves. We need leaders, optimistic, realistic, to encourage citizens to want to work, and to feel it is safe to work. Coaches do not call their players losers. Winning must become part of a person’s DNA to make the world better for all. We want the opportunity for the poor to lift themselves up from their status to achieve. That is what opportunity provides.  That is what has made and will continue to make America great

Stephen Moore in an article written for the Washington Examiner, April 21, 2020, entitled “Beware the left ‘degrowth’ movement,” wrote, “environmental protection is the ultimate ‘superior good.’ The richer a society becomes, the more it spends on clean air, clean water, and nature preservation.“

Let us get back to work, resist the ‘fear,’ and continue to grow our economies. It will make everyone healthier in the long run. The need is to have people purchasing again, clothes, cars, furniture, and other stuff. Why? Economic growth is about consumption, consumerism, not production. Demand is the driver of supply. We are experiencing during this crisis how the lack of demand for energy has caused the supply of oil to far exceed the capacity to store that which is not being purchased.

Fear economics generated by the political left, the no-growth socialists, is wrong headed. We have recently discovered how easily the left can deceive and lie. They do so boldly; the objective often contrary to the success of our Nation.  The world needs ‘confidence’ driven economics. Be aware of surroundings, anticipate, and prepare, but always keep moving forward. As the capital markets have shown the dips are followed but higher highs in the future.  Most Americans are optimists. The others, the pessimists, use too much protection and may never see the sunlight.  There is a balance.  It is the responsibility of the MSM to provide equal weight to perspective.  They have not played this role well.

Be independent, be confident, be objective, fight for peace, there is always tomorrow. Hope will win out.  Trump is making every effort to rekindle the fire of America’s greatness.  He is exhibiting confidence and hope.  He has proven he can achieve good things for us all.  Let us not forget that.  Let not the fabric of our great nation be shredded by malcontents. 

Keep the good guys in office.  When you vote, vote for America, not against America.