It’s Been Over… Now It’s All Political Kabuki Theater
We all agree that the data is a mess but based on what the CDC is reporting, COVID-19 peaked in April this year and has been going down ever since.
The CDC reported data as of the middle of August related to COVID-19 and pneumonia deaths year to date.
What we clearly see from the current data is that both COVID and pneumonia peaked in April. The increase of reported deaths in July was minor and certainly not a material event. Also, what is apparent from the data is that there are more pneumonia deaths to date this year (159,990) than COVID deaths (153,727). This is apparent in the chart as COVID deaths were not reported until March while pneumonia deaths started earlier in the year.
President Trump held a press conference Saturday night and he shared the following:
- Eighty-five percent of reporting jurisdictions report a steep decline in Wuhan virus cases, despite almost 70 million tests. This number of tests is greater than those administered in all of Europe combined.
- Nationwide, cases declined by 6%.
- Test positivity is 6.5%, which is a 71% reduction from April and a 15% reduction from mid-July.
- Hospitalizations have been halved since April.
- Nursing home and long-term care facilities have 1% of the U.S. population but account for almost 50% of fatalities.
- Retail spending is at an all-time high, with auto production alone surging 28%.
- The stock market is peaking again, and the NASDAQ is at an all-time high.
- China is struggling and has been buying massive amounts of corn, soybeans, and cattle from America.
- The administration continues to cut regulations.
- Small business optimism is higher than at any month in the Obama administration.
- Industrial production is increasing at the fastest rate ever recorded.