By Randy Rossi -
The recent dramatic stock market plunges which have cost the 52% of Americans who invest in their IRAs billions of dollars are a perfect example of the massive cost of a hysterical “Fake News Media”. Despite a booming economy with the lowest unemployment in 51 years, the hysterical media’s reaction to the Coronavirus has caused the stock market to drop dramatically because the media has over reacted to that virus before it had the facts. So far, approximately 100 Americans have gotten that virus and roughly 10 Americans have died. The news media has been whipping up this virus and created the incorrect perception that the Coronavirus is far more dangerous than the normal flu which has trashed the stock market, international travel, and even global supply chains as people around the world over react to their hysteria.
Here are the hard facts. According to the CDC, 29 million American have already caught the normal annual flu this year and 16,000 have died from it. That is old news and roughly 50% of Americans don’t bother to even get flu shots. That’s because we are used to it. Yet everybody is freaking out because of a new flu which so far only about 100 Americans have caught and roughly 10 have died from it. The media is ramping up concerns that the Coronavirus fatality rate is roughly 3% versus the 0.1% fatality rate for the annual flu. But according to the CDC, that is overestimating the Coronavirus fatality rate. Just last night, the highest levels of the CDC announced that the Coronavirus fatality rate is actually about 0.1 to 0.15%, which is slightly higher than the annual flu. As they said, we “have a denominator problem”. You see, while we know the number of deaths caused by the Coronavirus and the rough rate of people who go to the doctor or hospital because of it, that incorrectly raises the fatality rate because not baked into those numbers is the high percentage of people that get the Coronavirus and have no symptoms or don’t need to go to the doctor and think that they just have a common cold. The bottom line is the math is wrong and the Coronavirus is not as lethal as the “Fake News Media” is reporting.
Let’s take China as an example. Roughly 90,000 people got the Coronavirus in China and needed medical treatment and roughly 3,000 died from it in China. That would calculate a 3.3% mortality rate. But according to the CDC, in reality on top of the 90,000 Chinese that needed medical attention, 270,000 caught the Coronavirus but didn’t know that they had it or didn’t need medical attention and they weren’t included in the calculations. Suddenly a total of 360,000 Chinese caught the Coronavirus and only 3,000 died from it. That indicates a fatality rate of 0.8%, slightly higher than the annual flu. The vast majority of people who get the Coronavirus either don’t know they have it or just have a minor cold. Only older people who have other medical problems are at risk. Children and healthy people under 50 usually have either no symptoms or just a minor cold. Is that worth shutting down global travel, shutting down international business, or destroying the investments of millions of people in the stock market? No rational person would think so if they knew the facts. Shouldn’t the “Fake News Media” be more careful on this and give us the facts instead of hysteria given the high cost of this uninformed hysteria?
Another perfect example of the incredibly high cost of the hysterical “Fake News Media” is the national chaos created by their irresponsible coverage of the “Russian Collusion Hoax”. For three years the “Fake News Media” has been whipping up hysteria by selling the idea that Trump beat Hillary because of collusion with Russia. Thanks to the Mueller Report and the IG Report, we now know that is bunk and the “Russian Collusion Hoax” was created by the “Phony Russian Dossier” which was paid for by Hillary Clinton and the DNC. Then it was illegally and fraudulently used by high level Democrats in the FBI, DOJ, and CIA to launch the “Russian Collusion Hoax” which split America and caused massive damage at a critical time.
The “Fake News Media” needs to pay a high price for their hysterical and biased reporting for either political reasons or to make more profits by getting more public attention. But part of the problem is “We the people”. We should know that the “Fake News Media” can’t be trusted and we need to take everything they say “with a grain of salt”. First, our economy is roaring and we just saw a massive job increase of 273,000 jobs in February which was far above expectations which brings us back to the lowest unemployment rate in 50 years of 3.5%. Plus the average American just saw a 3% wage increase and that’s great news and should be celebrated! If Americans listen to the CDC instead of the “Fake News Media”, we should also understand that the Coronavirus is not much more dangerous than the normal flu we face every year. It is time for Americans to “Keep calm and carry on” and let logic and facts rule instead of letting the “Fake News Media” take control of our lives and turn us into hysterical sheep.
