Corona Virus: the true damage

Heathrow Airport 6 March 2020 - Emptiness where usually thousands travel

Much more than the virus, the fear of it hurts. 

We at @EurObsIT deal every day professionally with the conflicting area between reality and fake news, fake products and their effects. The psychological factor is always to be thought along. People buy intentionally fake products and endanger themselves with it, just because they want to carry a famous brand name which does not fit to their social status – because they cannot afford it. So some people are willing to deliberately endanger themselves just to show off. This price is hardly too high for the show. What you save in money, you invest in health.

So, the situation around Corona seems to be even more crazy. According to the World Health Organization, around 3000 people have died of the corona virus so far. By comparison: in a normal year, according to the World Health Organization, every year around 3-5 million people fall ill with the flu globally. It is estimated that 250-500,000 people die from this disease every year. Even though no disease should be underestimated, it is also important to put a stop to those who exaggerate and manifest excessive fear. According to data, the death rate for corona is at 3.5 percent. That seems to be a high value. However, due to the relatively small number of cases of less than 100,000 known diseases, it is not realistically possible to estimate with evidence how high the mortality rate will be. Even if the lowest value of annual flu cases (30,000,000) is assumed, currently only about 3 percent of these diseases are corona diseases. 

At the same time, the entire global economy is paralysed as a precautionary measure. Empty airports, cancelled mass events, sold out disinfectants, hamster purchases in supermarkets. The damage to the global economy is immense. We at @EurObsIT also like to paint this picture of how organised crime is damaging the global economy. The same applies to Corona: jobs are lost, livelihoods are destroyed, companies go bankrupt. The difference is, however, that the organised crime is a realistic threat, while the economic damage caused by Corona is based only on the fear of the virus, not on its actual illnesses. At the International Motor Show no one will be infected with Corona, because the event will not take place. But equally, no contract will be signed, not a single car will be sold. However, while the suspected corona disease is a conjecture, the loss of business is a reality. Anyone who postpones or even cancels business activities out of prudence should be aware that the damage caused by this is based on a hypothesis. 

This can be done. But in normal life, no one would act like that. The media and politics play an unfortunate role here. Through actionism and constant presence in the media, they create hysteria that may be based on facts but is not proportionate. Every year, an average of 1.25 million people die in car accidents. If we were to apply the same standards as Corona, the car would have been abolished long ago and could only be viewed in museums. So this is an appeal to put aside the unrealistic fear and stop hiding behind face masks. Let’s focus again on real threats.