- Let’s start with coronavirus. Imagine that within 18 months, 2% of humanity might have died from it. Exaggeration? Try this sober analysis from Richard Hatcher. Attack rates could be between 50 and 70% of global population. Death rates, even if low, may not mean that much if we all have to go into our cells and stay there.
Meetings are being cancelled, people are working from home, supply chains are being disrupted, businesses harmed, and things are not being done because of the epidemic. High rates of illness may be the more important aspect than the actual deaths that ensue. The disruption occurs when public assembly points are shut down: schools, theatres, shopping centres. The social isolation that people use to protect themselves generates most of the disruption. The combination of infectiousness and lethality has not been seen since the Spanish flu of 1918, which killed 50 million.
20% of people who are infected show no symptoms, hence they can roam freely. We have no built-up resistance to it, so the disease is new and may become endemic, meaning it will become a permanent feature of existence.
We may be experiencing something akin to the waves of plague and disease of the latter Roman Empire, when smallpox and other new diseases came out of Africa and killed large portions of the population. Kyle Harper’s The Fate of Rome must be read to appreciate that Rome fell under a series of blows of plague, and barbarian invasions driven by agricultural collapse caused by sudden global cooling around AD 400. It did not fall from one thing, but a combination of things. We may be at the start of a series of hammer blows that could disturb all the benign predictions ever made by Steven Pinker about the golden age we have been living in, or we may by contrast be at the start of a minor perturbation in the long run of history. Either way we are in for a tough year.
The nature of exponential increase is explained in this youtube from 3blue1brown.com. Watch it for the mathematical truths that are explained.
Aside: I am not the first to observe that, when people believe there is a real risk, they act on that belief. When people are not persuaded there is a real risk, then no matter what they actually profess to believe, they act as if there were no risk. Think of Obama buying an 15 million dollar house six or ten feet above sea level at Martha’s Vineyard. Does Obama believe glaciers are melting? With one part of his mind he does. Does he believe his house will become unlivable as a consequence? Obviously not.
2. Then there is the collapse of investment in Canadian energy projects. This is not an act if God. It is a deliberate policy pursued by Gerry Butts and the Prime Minister. I need not write more about it here, you have seen the details in the papers.
3. The Indians of Canada have been deceived into thinking that they now hold the reins on economic development of natural resources, and perhaps they are right in that opinion. This is another man-made disaster of the federal Liberal party and its feckless leader, Justin Trudeau. The Indians, aided, abetted and driven on by anti-development leftists among Canadian whites, have not been resisted at any stage by the governments of Canada from an arrogant usurpation of the rights of their fellow Indians and ordinary Canadian citizens who favour economic development.
4. Oil price collapse. Russia is feuding with Saudi Arabia over oil production. The effect on US oil production, which has become highly dependent on shale oil, may turn out to be disastrous. Lower gas prices may not mean much when your schools are closed or when factories operate at far less than capacity because of supply chain disruptions caused by coronavirus. The effect on other oil producing countries like Iran or those in Africa, whose costs of production are high, will be severe.
The breakeven price for Canadian oil sands is $70/barrel, according to the graph above. It is questionable whether the figure for shale oil is correct in terms of today’s technology. 96% of Canadian oil reserves are in the form of tar sands.
It has not been a good week, and it has not been a good month, and it is going to get worse.