It seems like it was only a week ago that Dr. Deborah Birx told us to expect 100,000 to 240,000 deaths from COVID-19. Yet here we are, with a total (as of this moment) of 10,493 deaths, hardly inconsequential, but hardly in the hundreds of thousands. Whether it was the product of exaggerated fears, a good response by government or the effectiveness of social distancing is a discussion best left to reddit, but two things happened to reflect a paradigm shift.
First, the Dow rose 7.73% yesterday, reflecting the market’s belief that the worst is in the past and we’re now looking forward. Second, the New York Times is now offering a ‘splainer about how we’ll know when it’s over. Playing the “experts say” game, the Times provides “four benchmarks.” Continue reading
