Coronavirus Second Wave and Voluntary Step Back to Phase 1

James West
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Yesterday I decided to move my organization back into a Stage 1 mode in the context of the virus. The office remains closed, and all team members are encouraged to work from home and avoid social gatherings including bars and restaurants, and especially parties.

Travel for business reasons is closed. In person meetings are out. And there will be no Christmas party this year, virtual or otherwise.

This is a no-brainer for me.

The government, in response to the populist pressure of anti-maskers and those who believe the pandemic is some kind of a hoax, refuses to demonstrate leadership by ignoring the inevitable criticism and getting ahead of the rising infection rate through an economic shutdown.

And is therefore, in my opinion, unqualified to advise me or my team members and our families on what steps are appropriate to prevent infection.

With gyms, bars, restaurants, clubs, casinos, schools and just about every other most intensely social institution open for business, it is utterly laughable that government messaging does not support a return to at least Stage 2 precautions immediately.

“We aren’t rolling back today, not saying that’s never going to happen, but that’s not the conversation we are going to have today,” said Ontario Premier Doug Ford on September 30th.

Since then, there have been another 1,000 infections in Ontario, but less than 10 deaths. It is important to remember that the death rate will not reflect the rising infection rate until those newly infected have become increasingly ill or increasingly convalescent.

We are fortunate, in that working from home does not present any barrier to business as usual, virtually.

A pandemic such as the one we see ramping up into the autumn flu season is a challenge that does not provide any obvious answer. Especially when we are still in the dark about so many of its effects and mechanisms.

What we have learned is that this virus is not like a normal flu, that infects and subsides within a predictable timeframe and pattern.

We now know that there are changes being made by this virus to our immune response that converts that natural defense into an inadvertent ally to the evil plague.

There is increasing evidence that these physiological changes are in fact slowly festering medical blights that can render heart, lungs, kidneys and other organs into time bombs that will shorten victims’ lives dramatically.

And most sadly, we know that the loud human ignorance that characterizes so much national character these days is sufficiently abundant to influence government policy and messaging.

So returning to Stage 1 measures voluntarily, is to me, the only responsible move.

James West

James West

Editor and Publisher

James West founded Midas Letter in 2008 and has since been covering the best of Canadian and US small cap companies. He covers global economics, monetary policy, geopolitical evolution, political corruption, commodities, cannabis and cryptocurrencies. As an active market participant, James is not a journalist and is invariably discussing markets...
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