Because a couple million dead and hospitals attempting to treat 20x their capacity wouldnât cause an economic disaster either⌠:person_facepalming:
Leave it to a options trader to only see the short term economic impact. Literally every point he makes is misrepresented and twisted to suit his message.
It is the nature of an exponential curve that, at any point on it, the rate of change earlier appears flat and the rate of change after that appears to skyrocket.
Weâre seeing that effect at work.
â It uses whatâs called a logarithmic scale â exponential growth at different rates will appear as straight lines of different steepness. The steeper the line, the faster the total number of coronavirus deaths is doubling.
The number of deaths from the illness known as Covid-19 provide one of the most reliable measurements of the pandemicâs impact around the worldâŚ.
Then also consider that a tests result must be interpreted correctly to be useful. Taking it as-is will surely be misleading. eg. a test has a probability of showing positive given that a person is truly sick, but that is not the same as the probability of a person being sick given that the test shows positive. The latter is what weâre ultimately interested in, and that depends on the prevalence of the disease and Bayesâ Theorem.
References would be helpful for any reports of test accuracy. Also keep in mind there are several Covid-19 tests, not just one, which undoubtedly have differing âaccuraciesâ.
It is a good question though, and the answer to the spirit of the question is that confidence is increased by multiple tests. I believe it is in the guidelines. This also means that the number of tests performed is not equal to the number of people tested.
It is incredible how many things are wrong with that article. I donât feel like addressing it all, but a common thread among those denying the seriousness of the situation is a focus on current absolute numbers of deaths, compared to influenza or other diseases, instead of rates, and completely missing the concept of the prevalence of a disease.
Given the higher fatality rate of Covid-19 than influenza, it will be worse if/when the prevalence becomes similar. That is what we want to avoid. Surely thatâs not hard to understand?
And even if the fatality rate were the same, the impact would be additive, not the same. Saying that there are similar or worse diseases is really no argument at all. It boggles my mind that it is mentioned at all, much less how often it is repeated.
Itâs interesting that Iâm not the only one who noticed that author is an options trader. What I donât get is why heâs complaining. Sure this terrible for the economy overall, but it has spiked volatility, which is great for trading.
Mine is still intact, the trouble is some people donât get jokes (even if they are funny ) before the big crisis hit them, My advice is to just carry on regardless,itâs almost funny watching some people going round like headless chickens. Itâs also quite sad.
Very comprehensive and nuanced, addressing many misconceptions and common/potential errors. Itâs a long page but I highly recommend the full (easy) read. The pop-out table of contents can be helpful for the time-constrained.
I got the (repeated) joke, and just didnât find it funny. Humor is a funny thingâŚ