$1.1 Trillion Lost & 7,200 Dead – Looking Into The Consequences Of A COVID Shutdown

The Hill put out an interesting article regarding the severe consequences resulting from governmental shutdowns and restrictions.

The CCP virus has been exhausting for all of us. From confusing regulations, shutdowns, loss of jobs, and inability to attend church, we all have been gritting our teeth and getting through it. We hear about the importance of staying home, slowing the spread, and flattening the curve. We follow the rules because we believe this short period of time will pay-off in the long run. It’s the sacrifice we must make to ensure a better future (we hope).

But, at some point, we should look at the unintended consequences these lockdowns are having, and ask our selves, “is this really the best way?”

Shutting down entire economies has been, according to The Hill, “the greatest global economic disruption in history, with trillions of dollars of lost economic output.” But this isn’t just an economic issue. It’s life-issue.

Statistically, every $10 million to $24 million lost in U.S. incomes results in one additional death. One portion of this effect is through unemployment, which leads to an average increase in mortality of at least 60 percent. That translates into 7,200 lives lost per month among the 36 million newly unemployed Americans, over 40 percent of whom are not expected to regain their jobs.  – Scott W. Atlas, a fellow at Stanford University’s Hoover Institution

Saying there is a reduction in our GDP sounds very academic and impersonal. It’s almost like it’s a far-off concern that doesn’t have a very real impact on our day-to-day lives. But, the impact is very real. When the GDP constricts, pay is decreased, jobs are cut and business opportunities start to dry up. To put it bluntly, unemployment goes up, and that creates a whole new set of problems:

Effects of unemployment:

  • Increases mortality by at least 60%
  • Increases alcohol abuse
  • Increases risk of suicide
  • Decreases access to preventative and needed healthcare
    • Stroke screenings
    • Chemotherapy
    • Illnesses not being discovered or treated
    • Fewer donors
    • Fewer childhood vaccinations

The consequences don’t just stop there. What about education? What impact will virtual learning have on our children in years to come? What about those trying to enter the workforce? How will the contractions in GDP hinder those trying to get their career started? Divorce? Assault? Drug Abuse? This list goes one.

We must start moving the conversation toward how these lockdowns are impacting the financial well-being of the average American household.

Is the solution worse than the problem?

The article asserts, for every $10-$24 million that is lost, there is one death in America. The American economy is losing $1.1 trillion every month these lockdowns occur. This means, each month, we lose 7,200 lives per month. Lockdowns are hurting real Americans in unintended ways. We can reopen in a smart way. But the longer we keep this up, the bigger the problems we’ll have to deal with down the road.

Is shutting down the economy really the best way?