The Coronavirus (COVID-19) Con That Fooled the World (Update)

Updated from the original story, The Coronavirus (COVID-19) Con That Fooled the World 

Various bureaucratic organizations continue to fuel the Coronavirus hysteria. And the media is eating it up while cashing in on advertisement revenues. This ensures the positive feedback loop of propaganda persists even though there are no signs that the outbreak will be as problematic as the seasonal flu. 

Everywhere you turn you're seeing and hearing something about the Coronavirus. And it's all panic based.

Several media firms have even created special categories to focus on pumping out content on the Coronavirus. 

Take a look at the stock quote page on Yahoo Finance for Walt Disney (DIS) shown below. The page was saved just as it appeared. Nearly even article is about the Coronavirus.

And all I wanted was to read some news about Disney's business. 

Boiler room news outfit Yahoo has even added a Coronavirus category in order to hype the drama even more. 

The establishment has been responsible for creating this highly unnecessary panic. It's been the public's reaction to endless Coronavirus fear mongering that's actually made the situation far more dire than a worst-case scenario for the outbreak.

And I haven't even discussed any of the bat shit crazy conspiracy theories and fake news narratives being pumped out on the Coronavirus. One of the more popular nut job rumors floating around social media and YouTube is that the virus has been engineered by China to contain HIV as a weapon to combat the west. Advocates of these ridiculous claim are likely to be spotted posting comments on flat earth videos as well. 

It is indeed mind boggling that the Coronavirus drama continues to grow at an alarming rate in absence of a commensurate degree of severity. Alas, the Coronavirus propaganda campaign has now boosted the chances of a global recession over the next twelve months.

Previously, we attached a 20% chance of recession in the US. But based on the panic response to the Coronavirus, we have now raised the odds to 35%. These odds could quickly rise depending on how US officials handle the inevitable growth in new cases.  

It's important to understand that under normal circumstances, the number of Coronavirus cases in the US should be expected to explode in coming months. This is a normal outcome for any new virus which enters the human population in a new region for the first time. But when you have every government body and media outlet putting the spotlight on every new case, it distorts the reality of the situation.

In some ways I understand why the public has added to the hysteria. After all, what's a person supposed to think when major cities declare a state of emergency after the first case has been detected?

In that situation how can you expect people to not react as if the virus is some crazy killing machine?

It gets even worse. Some cities are declaring a state of emergency without even having a single case. 

What kind of message is that sending to the general population?

It's as if officials are intentionally trying to destroy economic activity. 

At the very least one would think these same bureaucrats would try to educate the public about the normal course of infection of flu-like viruses, as well as expected morbidity and mortality stats.

As a first step, responsible officials should have educated the public as to the data on the seasonal flu in order to provide the public with some kind of perspective. But officials have not even explained that the infection is in its infancy, especially in the US, and is expected to...