| Sacrificing the Economy to Prevent the Worst Case  Dear Daily Prophecy Reader,
While Dr. Anthony Fauci was warning the Senate of the possibility of "suffering and death" if the US ended its lockdowns too soon, William Briggs, statistician and philosopher supreme, was tabulating the global data on the effects of lockdowns. Fauci has already explained his position in a New Yorker interview. He wants to prevent the "worst case." Denying that economics is within his purview, he is effectively willing to sacrifice the economy to prevent the worst case. This is a familiar position of specialists, satirized by Tom Lehrer's missile expert: "Once the rockets are up, where they come down is not my department said Werner von Braun." Fauci is upholding what is called the "cautionary principle." To prevent an ultimate disaster, any expenditures are justified. Espoused by the environmental movement with regard to climate change, the cautionary principle is incoherent amid myriad possible disasters. Still fervently supported by Democratic advocates of the lockdown, the so–called Green New Deal would close down the US energy economy in the name of a putative peril of climate. Dr. Fauci would close it down for COVID–19 and any other possible plague. Jared Diamond regards overpopulation as the ultimate threat and would halt population growth and thus emperil economic expansion and support for the aged. Many specialists would devote vast expenditures to fend off possible meteors hitting the earth or Electromagnetic Pulse Attacks on the power grid. Addressing all possibly extreme threats at once would cripple the economy that is the source of the wealth necessary to remedy any actual threat that occurs. Dictating a repeated dictatorial response to speculative perils, the cautionary principle is a death sentence for the capitalism and freedom that has made it possible for the planet to support a global population of eight billion people. Today, lockdowns threaten starvation for an estimated 260 million people in the third world and untold dangers in the west. Fauci's "Suffering and death" may be the human condition, but according the Briggs' global research, lockdowns are no remedy. You can read the full rundown here. Regards, 
George Gilder
Editor, Gilder's Daily Prophecy P.S. The central banks have opened up a Pandora's box of opportunity. My colleague Graham Summers has discovered what he believes to be a flaw in the currency markets. With this breakthrough, his research might explain why some people have the potential to get richer every time the Fed takes action. No one has ever seen a strategy quite like this for income generation before. You need to check out this brief video Graham has created to find out what's going on. | 
To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, 
No comments:
Post a Comment