New research from JP Morgan shows a decline in infection rates of coronavirus in US states that have ended their lockdown measures.
Carl Quintanilla, CNBC anchor, tweeted the results of the research.
“JPMorgan has a devastating piece arguing that infection rates have declined — not increased — in states where lockdowns have ended, ‘even after allowing for an appropriate measurement lag.’ (Kolonavic)”
According to the report, coronavirus infection rates decreased after lockdowns ended, even after factoring in a 7-day delay due to testing lags.
The current global coronavirus statistics from John Hopkins University place the number of total confirmed cases at 5,047,377, the number of global deaths at 329,816, and the global recovery number at 1,918,938.
JP Morgan researchers argue that although the lockdowns may have been justified at first, they might now not only cause economic devastation but also potentially more deaths than Covid-19 itself.
The report contradicts government officials who fear that infections will surge once lockdowns are lifted.
According to Quintanilla’s thread, JP Morgan also cited the poor performance of the Trump administration in managing the initial outbreak and then responding inappropriately by forecasting a larger negative impact.
“The initial response of the administration was to downplay the risk of the COVID-19 epidemic. However, since then, this simplistic thesis changed significantly. The administration shifted to forecasting a larger negative impact (setting the stage for them to ‘outperform’) … shifting the pandemic blame to China and the WHO, and shifting the blame for economic pain to large blue states that are perceived to be slowing down the reopening of the economy. Indeed, allowed economic activity across the country is now largely following partisan lines.”
You can check out the full thread here.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Ivan Marc
