Lockdowns: based on dead-wrong model from Imperial College. Economic and personal disasters. @davidrhenderson @HooverInst

Jun 24, 02:22 AM
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David Henderson, Hoover and WSJ, in re: The lockdown: how was the calculation made of the expected benefits of $7.9 trillion?  The Imperial College of London analysis was filled with analytic and coding errors, and concerned mitigation, only; estimated that we’d save 1.76 million lives within months. Wrong.   Economists figure that there’s a value of a statistical life. Early on, Trump used the Imperial College numbers, product of a mistaken algorithm.  All the calculations have gone lower, incl the number of lives thought to be saved. Best study is from Berkeley: saved 76,000 lives.  Quarterly GDP estimate:  maybe 40% fall [diminution] for second quarter. I opposed the lockdowns from the start because it was all based on a model, not data. To reduce economic freedom for a few hundred million people for months based on a model is bad.  Cuomo issued an executive order in March requiring nursing homes to take in Covid-positive elders; 40% of the deaths were from there