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   so here we are doing a little different  
   type of podcast delivery this week we're  
   coming to you in a video format how are  
   you doing tonight  
   everybody where we decided we would do a  
   video tonight and so Nathan will be back  
   with us next week on the radio but so we  
   but general I thought we'd do this for  
   fun wish we could just see how it goes  
   yeah we're still getting a lot of  
   questions about coronavirus and this is  
   like a topic that just continues coming  
   up and we have new things to say about  
   it and some old things to repeat and to  
   reiterate about it and just figured that  
   it would be useful to get this  
   information out in a slightly different  
   format so I think what when we think  
   about this thing the reason why I was  
   thinking about today why it is that we  
   were thinking about it all the time or  
   at least signing em and I think most  
   people are and that's because  
   essentially the whole cost benefit  
   matrix of your whole life is now got all  
   kinds of variants in it yeah your your  
   mind has to keep chewing through these  
   variables trying to figure out what this  
   all means for you  
   yep so you can make good decisions so  
   yeah trying to do is certainly Jen and I  
   hear from many people that we talked to  
   they are they're really a very uncertain  
   may be a lot of anxiety irritation anger  
   think that there's conspiracies you know  
   and don't know what the future holds and  
   so what were what we're all trying to do  
   is try to get a better estimate about  
   what we think that future does hold and  
   what the risks are for you in various  
   ways we're essentially trying to get a  
   more accurate picture of reality and  
   that's what we're gonna try to give give  
   you tonight as best we can  
   yeah yeah I think this is the the most  
   sort of destabilized and uncertain  
   people have been about how to project  
   themselves out in some kind of what  
   political scientists would call an  
   ontological II secure position in the  
   future since I would I would say  
   probably since 9/11 even I don't think  
   the 2008 crisis quite constitutes the  
   current level of of just existential  
   uncertainty that people are experiencing  
   and so it makes sense that everyone is  
   returning again and again and and sort  
   of obsessively to understanding what's  
   happening and trying to make sense of it  
   and  
   locate themselves and the hole in the  
   whole matrix of it so that's why this is  
   part part three of an ongoing discussion  
   and perhaps more to be determined but I  
   think we're well positioned to kind of  
   mention some really important things  
   today that will help people get grounded  
   with us very good well Jen what are your  
   our resident Harvard doctor you people  
   are supposed to be so smart that's the  
   reputation that we have tell us like  
   what you know as a political scientist  
   tell us what some things that you're  
   seeing and what's going through your  
   mind and just you know give us a little  
   backdrop about anything that you see  
   this administration doing or and sort of  
   the world press what what do you see  
   that's interesting to you yeah well  
   what's been interesting is you know I am  
   a political scientist first and foremost  
   and sort of a classically trained social  
   scientist and so I'm always looking at  
   things through the lens of social  
   processes and you know it's we are in a  
   major election year and so there is a  
   little bit there's been a little bit of  
   exaggeration of everything that's going  
   on in in service of strategic political  
   goals which you would expect that's  
   that's just gonna happen anytime there's  
   any kind of crisis any kind of new piece  
   of information and so I think all things  
   equal and we talked about this on the  
   podcast a little bit last week all  
   things equal you have you have the the  
   left exaggerating the degree of the  
   crisis as that as a sort of challenging  
   position to the incumbent right side of  
   the political spectrum which if anything  
   is sort of a little a little overly rosy  
   a little a little overly optimistic  
   about where we are relative to  
   everything and this is what you see  
   reflected on the non-stop news cycle and  
   this is what people are experiencing as  
   they maniacally refresh their social  
   media feeds and and sort of silo  
   themselves into one of these  
   perspectives or in others so when you  
   talk more about that later about the  
   ways in which people kind of get a  
   narrowed version of reality that is that  
   is related to some some type of  
   political agenda or other kinds of  
   but that's that it been something that  
   I've been watching just on an ongoing  
   basis over the last few weeks which is  
   not not surprising from a political  
   science point of view and I was feeling  
   a little irritated that the  
   administration was was overly optimistic  
   ie we're gonna be filling churches by  
   April 12th on Easter this is no no big  
   deal we don't have anything to worry  
   about it's all gonna be cleared up in no  
   time so it's been really interesting for  
   me just today in the last last 48 hours  
   or so is to watch Trump walk that back  
   which is something that you don't you  
   don't see that often from him you don't  
   see him admit that he was wrong about  
   something so that's that's interesting  
   enough to watch but he he is correcting  
   himself in saying that was overly  
   aspirational and that was what we were  
   hoping but that's not what it looks like  
   is going to happen after all it looks  
   like more like we're remaining in the  
   quarantine default until the end of  
   April at the earliest and looking at  
   some return to normal life probably in  
   June or so so just from a political  
   science point of view that's very  
   interesting in the sense that it tells  
   me that they are narrowing in on some  
   some parameters which of course are your  
   favorite thanks Krantz but we just love  
   nothing more than some good parameters  
   and that they are they are probably a  
   little more optimistic than June or they  
   wouldn't they wouldn't be putting that  
   out there they wouldn't be taking the  
   political risk of of being being  
   distorted with that estimate twice in a  
   row and having to correct twice in a row  
   so it's one thing to sort of say oh gosh  
   you know our bad we we had that a little  
   a little bit off and it's actually this  
   is gonna require a little more sacrifice  
   than we thought it's it's bordering on a  
   political disaster to have to do that  
   again and and to repeat that process and  
   lose the trust with the polity that they  
   I don't think the administration is  
   willing to take that kind of risk and I  
   don't think any incumbent would be so  
   all of that filters through my political  
   so I put my political science hat on and  
   that tells me that they they're  
   narrowing and on some numbers that are  
   telling them that that we are we're  
   peaking in the curve or about to peak in  
   the curve and that that curve is  
   petering out by the end of May or June  
   which is which is pretty much this model  
   that you you've been talking about on  
   couple of shows and elsewhere just  
   looking at this as far as we we have any  
   reliable data which is always a big  
   question mark but I know you even have  
   some thoughts on that but does does that  
   make sense is there you do you share my  
   political science hat totally I think  
   that's uh that's very interesting that  
   the notion that that the Trump wouldn't  
   want to be wrong twice yeah expensive  
   yeah that that makes sense to me when I  
   actually think about that so Trump being  
   Trump he's got a oh I don't know he's  
   got a a barstool  
   let's just talk kind of way about him  
   yeah not not easy to get that guy  
   depressed I don't know that I've ever  
   seen him look sad and so he probably can  
   I mean under tragedy but the point is is  
   that that that's a that's an extremely  
   inherently optimistic personality yeah  
   so the April twelfth thing you know had  
   a nice ring to it Easter in churches and  
   American us out the rebirth yes yes it's  
   a very it's a night it's a lovely  
   political image and when can see why  
   they were drawn to it and wanted to  
   deploy it that if it's not plausible  
   it's not plausible right yeah I think  
   you're right that if you you make two  
   mistakes of that magnitude then you're  
   effectively untrustworthy so yeah very  
   interesting well that that is consistent  
   with something with the sort of general  
   members because I have not I'm a rookie  
   in in epidemiology I've never faced an  
   epidemiological problem before and all  
   the stuff that I'm used to is scientific  
   experiments and correlation and  
   regression and just you know basic stats  
   but not epidemiology which has its own  
   strange it has its own strange set of  
   data right so when I originally have  
   talked about this I was very concerned  
   about the big thing that one would worry  
   about would be the death rate or the  
   fatality ratio  
   the and so when I was looking at  
   everybody's numbers and actually even  
   people that are pretty close to and some  
   pretty smart people looking at fatality  
   ratios we were all very concerned and so  
   when I was looking at what looked good a  
   week or two ago in Germany looking at  
   you know somewhere around 0.3 than 0.5  
   that seemed reassuring to me but in the  
   context of all the horrendous other  
   fatality ratios that we see it was  
   daunting and so I didn't I didn't come  
   to the party until about a week ago that  
   this is all just terrible math and none  
   of this makes any sense at all to even  
   pay any attention to right oh I I'm now  
   this is a Mia culpa of somebody who's  
   very comfortable with numbers that  
   actually didn't quite understand how to  
   look at the numbers properly I'm going  
   to show this so that people can see it  
   and this is what I call I'm going to  
   start this with what I call catastrophe  
   math and catastrophe math is apparently  
   what was a major I think a guy named  
   Neil Ferguson a major model or over in  
   the UK had a big impact on Parliament  
   and basically told Parliament listen  
   we've got we could lose 500,000 people  
   in our country and 2 million Americans  
   this is what that is is that translates  
   to more or less a 1% death rate mm-hmm  
   in other words if you had 200 million  
   people in America affected the way you  
   can do this math in your own head is  
   since a thousand thousand is a million  
   two hundred million infections at a one  
   in a thousand ratio would be 200,000  
   deaths but of 1 percent ratio obviously  
   it would be 2 million big difference  
   yeah so that's uh so what I did was I  
   looked at what so many people have been  
   looking at you know and I want to share  
   this with people about where we are  
   today  
   and today is Monday evening on the 30th  
   of March this is prerecorded for a  
   couple days the this is the u.s. you'll  
   see were it we're at 3,000 deaths over  
   165  
   in Italy 11,000 over a hundred thousand  
   Germany 645 over 66,000 and worldwide  
   were at 38,000 dos over seven hundred  
   eighty-five thousand cases over all five  
   percent the u.s. running under two  
   percent Germany running right around a  
   little bit under one percent Italy at  
   eleven percent the those are to any  
   honest person looking at that you would  
   be terrified and so this is what has  
   riveted you know if you can't do math  
   then you're just listening to the news  
   and crossing your fingers but our people  
   are smarter and so I've got many calls  
   from beach or jeans folks saying what's  
   up and I've been trying to get my head  
   around this and the truth of the matter  
   is these numbers folks are totally  
   meaningless meaningless  
   that's our utter really mean word yeah  
   meaning okay they are they are not worth  
   looking at you don't take out the  
   calculator you don't look at world  
   ohmmeters case counts and then do the  
   math for yourself because they are  
   utterly they mean nothing okay so let me  
   explain what what the only legitimate  
   mouth is the legitimate math is the  
   total death rate divided not by the  
   cases that they have seen and that they  
   can identify but all cases of the virus  
   that have occurred in the population and  
   have closed including a symptomatic  
   cases being asymptomatic cases so in  
   other words this is this is the proper  
   way to do the math the proper way to do  
   the math is that you have 3,000 deaths  
   in the United States today divided by  
   165 thousand known cases plus all of the  
   other closed cases that have taken place  
   that you haven't seen so the question is  
   obviously how many cases have we not  
   seen and in order to do that we have to  
   say well how many have we seen and the  
   number that we've seen is as of today we  
   have tested  
   million people and that's how we got the  
   165 thousand people that identified is  
   that we've tested now a million well if  
   you tested a million people in a country  
   of 350 million people you've tested one  
   third of 1% of the individuals in the  
   country so an honest statistician would  
   say well we have to multiply 165  
   thousand by 350 mm-hmm that's the only  
   rigidity do this mm-hmm or to to do that  
   if we were to do that man out that comes  
   up with I can't I can't he I didn't know  
   what that is  
   50 million a much bigger number yeah now  
   so obviously the people that we tested  
   the test is 16 and a half percent out of  
   100 the tested positive those are not a  
   representative sample right so clearly  
   we we might want to look at another  
   country and see what their rates of  
   positive testing are that have better  
   testing than we have in other words  
   they've covered far more of the  
   population that country would be Germany  
   and the reason why Germany would be a  
   very good facsimile for the United  
   States is because Germany has had about  
   1/4 of the fatalities that we've had  
   almost exactly I've had about 650  
   fatalities we've had about 3,000 so  
   we're basically a perfect ratio relative  
   to the two populations of the countries  
   so Germany has about 80 million people  
   we have 350 or so we're right in there 4  
   to 1 so it looks like these two  
   populations are in lockstep as of this  
   time and so Germany's testing because  
   they're the Germans have been so  
   sophisticated and and fast about getting  
   their testing off the ground shockingly  
   Sermons efficient does it make sense  
   Germans I actually talked to a client in  
   Germany who's over there overseas with a  
   in the service  
   and she said oh it's very organized here  
   Doug yeah sir yeah  
   so the Germany has has had about a  
   million tests as well and they have  
   identified about 65,000 people I think  
   so they're running at about six and a  
   half percent more or less hmm now we  
   realize that the US isn't at 16 percent  
   positives so we don't have to worry  
   about the fact that we have 50 million  
   people infected right now we realize  
   that it's much closer that six and a  
   half percent in Germany would be the  
   upper boundary because obviously the  
   Germans are testing more people that are  
   sick more people are going to their  
   drive-by thing and getting tested if  
   they're a little sick than if they're  
   well but they're grabbing so many people  
   that it wouldn't be a surprise at all if  
   that rate was three to five probably is  
   the reason why I say that is I'm not  
   pulling that out of the air in Italy in  
   the small town in Italy though that was  
   where they they quickly recognized that  
   they had cases they this is in late  
   February but they tested everybody in  
   the town 3,000 people and they came back  
   with a 2.7 positive rate  
   now this virus doubles about every three  
   days where does in the early in the  
   early stages of the epidemic so that  
   would mean by early March Italy was at  
   six percent and by mid-march Italy was  
   at ten percent 12 so it means the  
   Germany is probably not too far behind  
   is somewhat behind probably a week  
   behind and so the Germany is is unlikely  
   to not have not be a three or four or  
   five percent now with three or four or  
   five percent we are probably a three or  
   four or five percent which means that  
   America is probably sitting today on  
   call it four percent a case for Bastogne  
   population which would take us to about  
   15 million right now those numbers are  
   important to know so for various reasons  
   but one of the reasons is is that  
   if the if the death rate from this virus  
   is 1% then the existing cases that we  
   that are already out there ie 15 million  
   we would be looking at 1% which would be  
   150,000 deaths those hundred fifty  
   thousand deaths doesn't even remotely  
   resemble the three thousand that we see  
   today right so we know that of these  
   millions of cases that are in the United  
   States that some significant percentage  
   of them have walked their way through  
   the first couple to three weeks where  
   they've been  
   which would be lethal and so as a result  
   it seems inconceivable that that we are  
   looking at something like 1% what does  
   it look like well frankly it looks a lot  
   more like 0.1 so it looks like if we are  
   facing out of the first 15 million that  
   we probably have right now in our  
   country that we would be facing 15  
   thousand deaths  
   given the fact that we have about three  
   right now that would make sense that we  
   would go up by a factor of five here in  
   the next two or three weeks and that  
   would be essentially closing out those  
   15 million cases that now exist now  
   those 15 million cases are are spawning  
   another 15 million cases so but at some  
   point it slows down it slows down  
   because the virus starts running into  
   itself we're also doing a lot of the  
   social distancing that we're doing in  
   other words I wouldn't expect the next  
   15 million to happen in the next three  
   days not at all so I think this is now  
   starting we should see a lowering of the  
   pace but we still believe this is this  
   is interesting that that you're talking  
   about the administration and and some of  
   the things that they've been talking  
   about what a fiasco that we're not  
   having intelligent discussions about the  
   death rate yeah I'm just astounded at  
   this know where are you having  
   intelligent conversations about the  
   death rate you're having poorly informed  
   conversations to begin with because  
   people are looking at the wrong the  
   wrong ratio on your first chart you're a  
   very fancy chart that you presented  
   so that that is that's their starting  
   with that data and then they are  
   inferring wild notions about why their  
   death rates vary across different  
   countries and so this is like the worst  
   of my subfield in political science is  
   called comparative politics and and  
   people will hitch these theories to  
   these observations that are their two  
   rooted and bad data like this one is and  
   then they make up stories about why they  
   see the variation that they see so oh  
   well your death rate is 16% and ours is  
   five because we've in gate we have  
   better quality care or we've engaged in  
   different kinds of social distancing  
   practices or we've done this or we've  
   done that and these make for very  
   compelling headlines for a country ie  
   the u.s. that is living in the state of  
   great agitation in fear and uncertainty  
   and once understandably to do the right  
   things to mitigate its risk and for the  
   fewest people to die and so all it can  
   do is look around comparatively and  
   who's who's the most successful what  
   have they done how can we mimic that and  
   and also ensure a better outcome for  
   ourselves but it's all based on bad data  
   it's like trying to win an election  
   based on early reporting precinct data  
   that comes in where it's like 1% of  
   precincts reporting and and trying to  
   infer who won the election from that and  
   saying oh well they're gonna win the  
   election so we should do what they did  
   last time this is like you can't make  
   those sorts of inferences based on that  
   sort of poor information but that's what  
   people are doing all over the globe  
   right now and it's insane it's truly  
   it's it's yes watch it's very disturbing  
   to people understandably right well  
   that's why we called this podcast March  
   Madness March Madness this is the this  
   is the ultimate March Madness I mean  
   usually I'm looking at you know betting  
   pools and percentages it's got a six  
   foot nine inch guy that can score yeah  
   Final Four but the truth of the matter  
   is is that you know these are the  
   numbers were running this March and I as  
   a rookie in this math I've been quite  
   frustrated at the of the lack of acute  
   discussion about what's really important  
   is there's really two things which is  
   what's your death rate and how many  
   cases are you likely to wind up with  
   and so the I I read something today Jen  
   from some smart fancy Brit who said well  
   there could be 1.6 million cases in the  
   UK yeah  
   what dope are you smoking yeah you've  
   got I don't know how many how big the UK  
   is 60 70 million people yes there's  
   there's no doubt they've got you know  
   four or five percent there's of course  
   they've got 1.6 million it's not a it's  
   not a hypothesis it's a it's almost a  
   near certainty that you're many times  
   besa the same screaming headlines about  
   the u.s. yesterday where Oh Trump  
   acknowledges we may have millions of  
   cases and are looking at a hundred to  
   two hundred thousand deaths like  
   terrifying numbers very very scary  
   numbers very tapping into huge social  
   fears but it's it's those are actually  
   very statistically grounded numbers and  
   they are not they're not infinitely  
   increasing in this out-of-control  
   chaotic way that we can't we can't  
   predict or that we don't have an  
   understanding of why it's going that  
   direction or when it's going to peak and  
   so people need to develop a different  
   sort of relationship to these big scary  
   numbers because millions of cases most  
   of those are asymptomatic and and the  
   vast majority of them are not requiring  
   any hospitalization let alone a fatality  
   rate and so it's it's really that  
   there's there's missing perspective on  
   all of this yeah I I certainly as you  
   and I both do we we respect the the the  
   catastrophic theory and yeah when you  
   don't know what's happening when you you  
   you have to we've had horrendous  
   diseases they've gotten loose and most  
   of them are have been probably quite  
   stuff limiting because they're so deadly  
   this thing this thing doesn't look like  
   it's going to be limited because it's  
   it's gonna it's going all over the globe  
   it's gone incredibly quickly partially  
   because it's not killing off the hosts  
   right though as a result it's you know  
   the the catastrophic view  
   has been a loud shout saying don't call  
   the flow okay job minimize this and you  
   know what I understand their frustration  
   that we don't want to blow it off like  
   it's nothing this is a major tragedy  
   however it probably is about like the  
   flow may be twice as bad but but twice  
   is that the flu is still just twice as  
   bad the flu which doesn't warrant a  
   single headline in any given year as it  
   kills 50,000 people it's it's astounding  
   the lack of perspective if you had  
   screaming ticker tapes and counters  
   going on the evening news cycle with the  
   flu every flu season you would you would  
   see a similar level of social hysteria  
   but you don't see it because it's very  
   normalized even though the numbers the  
   number of cases like one thing we don't  
   know what the case fatality would rate  
   with the flu in any given year is how  
   many people would test positive for it  
   if you if you were systematically  
   randomly testing the population for the  
   flu which we don't we only we're only  
   dealing with symptomatic people so we  
   know the case fatality rate for  
   symptomatic people but we don't we don't  
   actually know how many people have the  
   flu at any given time and are not  
   presenting with it and are just  
   developing immunity and contributing to  
   the herd immunity of it and and shaping  
   the curve of that contagion every year  
   but again it's not it's not the source  
   of endless endless news cycle and social  
   media drum beats it's just nice yeah  
   let's keep let's take the camera back  
   for a second everybody and realize that  
   right now I think as of tonight there's  
   maybe 40,000 deaths worldwide that the  
   flu every year kills about 650,000  
   people worldwide so right now in the  
   United States you have 3,000 deaths  
   usually in the United States every year  
   we have about 50,000 deaths on the float  
   yes though is this gonna get worse is  
   this gonna rival the flu yes and it's  
   nastier it's nastier than the flu if you  
   do get it and certainly if you get it  
   and you're in a vulnerable group and you  
   do need to be hospitalized it is a  
   gnarlier disease then a typical bout  
   with the flu is so we don't want to  
   understate that either no no I mean I've  
   talked there's doctors that have seen it  
   and they'll say when you're looking at  
   one of the bad cases which understand  
   what we're looking at we're looking at  
   you know the bad cases are 1 in 500 1 in  
   300 1 in 1 and 150 in other words but  
   they're looking at you know if you're in  
   an ICU and you're looking at these cases  
   they say they're awful cases to look at  
   and and of course this is this is we've  
   now you know gotten too close to the  
   animals again and some nasty animal has  
   now I mean some animal and it's virus  
   has jumped to human and now we've you  
   know this is part of the price of human  
   world domination of the earth and the  
   fact that we've got billions of us and  
   we also raised phenomenal amounts of  
   animals when we eat them and you know  
   this is it's actually remarkable to me  
   that that we're generally as safe as we  
   are yeah really  
   now we're facing a situation where it's  
   it's probably down here in the ranges of  
   one in a thousand that would mean that's  
   interesting that the administration was  
   talking today in some very interesting  
   numbers that that's what perked my years  
   of Jen and I one not past you which is  
   then so dr. Burks was talking about how  
   you know it could have been two million  
   but now if we do everything right it  
   looks like it may be two hundred  
   thousand right know that this is  
   pricking my ears yeah so I'm hearing  
   that of course the catastrophic position  
   even a week ago was legitimately not  
   knowing the numbers was saying this  
   could be one percent and if it is one  
   percent and you have two hundred million  
   infections in the United States then it  
   would be two million and you're looking  
   at from my perspective of any adjective  
   this is an utter catastrophe you know to  
   two million Cheerilee yeah did people  
   some numbers so that they can put this  
   in a little bit of perspective in the  
   United States we have about 2.8 million  
   deaths a year that's about what it is  
   and as people get to 80 years old and  
   they die that they're about you know 1%  
   of the population we have 350 million  
   people  
   they they're not quite 1 percent of the  
   population in other words because  
   there's more young people than there are  
   elderly people so in the long long short  
   of it is 2.8 million people die every  
   year that means you've got about 230 240  
   thousand people die a month this month  
   another 3,000 died of this disease so  
   right now if you didn't know that there  
   was a worldwide epidemic this would be  
   utterly unnoticeable it's such an  
   important point it wouldn't it wouldn't  
   be a blip in the data you would not it  
   would not register a single eyelash  
   flutter it would it would just be lost  
   in the noise of the confidence interval  
   around the expected death rate CDC  
   wouldn't even have its eye open no  
   totally so that's actually where you are  
   and you would if we didn't have  
   international communication if I was was  
   in our own silo being you would  
   literally we have doctors starting to  
   report  
   hey the strange thing pretty bad flu  
   season you know it's like particularly  
   rough flu season and it seems to have a  
   this is this strain is kind of can be  
   nasty in some cases but it would not be  
   that would be it that way it would be  
   like a rarefied conversation among  
   epidemiology nerds and it would not it  
   would not make a single headline or a  
   single Facebook post no one would be  
   aware there would be there'd be no  
   change in everyone's daily life  
   whatsoever and it was to say that hasn't  
   happened before that that may have  
   absolutely happened before where we're  
   looking at a situation like this but we  
   just didn't know it yes situation like  
   this what that was ultimately probably  
   milder than this is going to be right  
   this now we now know I think we got  
   enough deaths around that I think we can  
   I think we can see that we are probably  
   looking in something like effectively a  
   novel flu mm-hmm a novel flu that's  
   visiting populations that has no  
   immunity it's gonna race its way through  
   the flu stops at 50 million people a  
   year because there's all kinds of  
   immunity around this may not this this  
   could speed right up to 2  
   million Americans maybe more but  
   probably not and that's what Burks is  
   signaling uh-huh I think she is she is  
   tapping to us in Morse code that that  
   they can sniff out that it's a tenth of  
   a percent yeah  
   therefore the upper probably upper  
   boundary limit is two hundred thousand  
   cases but those cases are gonna come  
   probably in the next four months yeah  
   so now you're gonna see an additional  
   fifty thousand deaths a month on top of  
   the 235 that you usually get that's a  
   big change three new months here we are  
   in for incredibly rough weather that's  
   assuming there's zero seasonal break and  
   there could be a significant seasonal  
   break because we go into springtime and  
   summer and we may not find two hundred  
   million cases yeah and and yet so it's  
   it's very possible that that we wind up  
   with seventy five million cases or 100  
   million cases etc and so it may wind and  
   it may wind up that it's not point one  
   it's point it point oh eight weren't  
   horse okay right now I I guess what I  
   would want to summarize to people is  
   that there's actually no evidence at  
   present to suggest that the fatality  
   rate on this is worse than the flu  
   it may be certainly could be it could be  
   not quite as bad yet it's unlikely to be  
   catastrophic ly worse based on the  
   evidence that I see right now and I also  
   am heartened by the administration  
   signaling one of the things that I of  
   course a frustrated chen is that why  
   isn't anybody out here giving me the  
   numbers right like yeah yeah well they  
   don't they don't deal in numbers okay  
   yeah yeah the the thing is folks is that  
   it doesn't take a genius to realize that  
   all this all that with all that it takes  
   to get a fatality ratio you don't have  
   to look at how many deaths and how many  
   infections and estimate the infection  
   rate of the population all you have to  
   do is follow one cohort just just go  
   Endemol II find a cohort that's big  
   enough and and follow them through time  
   and see what happens to them it doesn't  
   it has nothing to do with whether  
   they've tested positive or not that's  
   the point it shouldn't have anything to  
   do with that you just go into the  
   population you test it you you grab a  
   bunch of people and you follow them  
   through time and and watch what happens  
   and then you know everything that you  
   need to know about the the pattern of  
   the disease or anything else about that  
   group yes they the problem with with  
   this is on understanding is that the  
   early in one of these epidemics you the  
   rates are so low the net is gonna catch  
   no fish right ah yeah sure goes so fast  
   and so they kind of tried to do this in  
   Iceland just so that people understand  
   how why I'm confident about the fact  
   that we probably got somewhere between 2  
   & 5 percent of our people infected ie  
   we're somewhere between 5 and 15 or 25  
   million cases so it's it's not 200  
   thousand cases folks and it's not even a  
   million cases it's not even close  
   right he knew an Iceland that has a  
   beautifully sequestered population that  
   they're extremely careful and keeping  
   people out of there that they did one of  
   the only random tests in a population  
   and they came back at over 1 percent  
   even on that island so there's no way  
   that America and that was days ago that  
   was that test was done and remember it  
   doubles every three days right though  
   the America raced through 1% 2% 4% you  
   know undoubtedly  
   we're up here in 15 million cases the  
   the most sophisticated testing place in  
   the world is Germany  
   yeah because we can tell the Germans  
   have tested a huge amount of people that  
   are pretty healthy that's why they only  
   have a 6 or 6 percent positive take rate  
   you know a crate of 16 percent we're  
   testing the sick people so our tests are  
   not representative therefore if we did a  
   if we did a cohort analysis and watch  
   10,000 Americans that have been positive  
   over the next 3-4 weeks they would give  
   us a bad data  
   they're too inherently sick see we were  
   to go back three weeks Gramp take German  
   case number 10,000 I wouldn't take the  
   first 10,000 because those were the sick  
   people the sickest people that they  
   tested right away sure even as they got  
   their act together and the Germans were  
   testing even early in march 125,000  
   people a week that's five six seven  
   percent it's it's child's Flemming at  
   that point identify ten thousand and  
   then three weeks later we have a really  
   good count about how many of those  
   10,000 people died yeah listen folks  
   this is I know that there are people  
   arguing and frustrated and you know I've  
   had you know very negative email come to  
   me like how dare you downplay this me  
   too yeah and this is that know what  
   we're trying to do here is just deal  
   with the facts and really estimate the  
   parameters and understand what we're  
   really dealing with and this would this  
   is child's play now to look at those  
   10,000 cases and today we know how many  
   of those people have died and you might  
   say well is it a thousand and the answer  
   is it can't be because all of Germany  
   only has 645 death so so tonight so of  
   those 10,000 people remember we've got  
   three million Germans infected so of  
   those tiny little 10,000 people how many  
   of those people are in the 645 I don't  
   know but let's look at a few numbers to  
   give us a notion of how to test two  
   opposing hypothesis one is one percent  
   and one is 1/10 if it's one percent and  
   they followed this 10,000 people we're  
   gonna look at a hundred deaths give or  
   take whatever it is if if it's about a  
   tenth of a percent like I'm hoping and I  
   expect then we're gonna have about ten  
   of those people it's not gonna be close  
   you can't turns out it's 50 then it's  
   right in the middle and it's a lot worse  
   than I think but it's it's not the  
   catastrophe of a 1% but it's a big  
   catastrophe trust me half a percent is  
   really really bad that's bad that's a  
   lot think so  
   Nancy back that's you've got an awful  
   lot of people in Germany that must have  
   this disease  
   and many people had to have had this  
   disease three weeks ago or four weeks  
   ago so that 6:45  
   times a thousand with the six hundred  
   forty five thousand that's how many  
   cases we needed to have seen three or  
   four weeks ago in order to account for  
   the six hundred forty five people dead  
   today on a one in a thousand basis do I  
   think it was six hundred forty five  
   thousand people in Germany ill three  
   weeks ago  
   well since three percent of Italy was  
   ill at the beginning of March if that's  
   true then certainly one percent of  
   Germany was ill by March seventh yeah  
   that was true on March seventh in  
   Germany that would have been eight  
   hundred thousand cases in Germany which  
   would give rise to 800 cases dead today  
   which is the six forty-five that we see  
   today  
   yes I think that the numbers are  
   triangulating on 0.1 yeah let's hope  
   that and what I was get back to Jen is I  
   think they know I think they absolutely  
   know I think that that is between the  
   lines in the way that they're  
   communicating about it I think they  
   would be much more they would you'd see  
   a whole different flavor of rhetoric if  
   they didn't know or if they thought this  
   was going to be a lot worse I ie above  
   1% or 5% or 10% or any of the numbers  
   that people throw around today they even  
   even this administration would be cool  
   in its Jets and and be very very careful  
   about the rhetoric it would not be  
   talking about open for business in June  
   and so so and it would not be talking  
   about how we're peaking in two weeks  
   which it looks like we are it's like  
   according to this model that's also what  
   you and I would would be anticipating  
   and that's what they're echoing so  
   they're there talking to pointy-headed  
   epidemiologists who are doing the math  
   just like we're doing it yes looking at  
   the cases just like just like we are and  
   coming to very similar conclusions and I  
   want to also to add that you know we're  
   you and I are both getting kind of  
   critical and occasionally nasty emails  
   about this is really interesting like  
   it's the it's the one topic that I've  
   gotten that kind of pushback on you know  
   I'll do I'll do q and A's and get really  
   nasty comments I'll get you  
   about how irresponsible it is and we're  
   doing this you know not not for  
   entertainment or for fun or for you know  
   for its own sake but because from a  
   psychological point of view it's so  
   important to understand what's really  
   going on so you're not getting caught up  
   in in an overly hysterical view of  
   reality that is distorted so we talk  
   endlessly on the podcast about  
   distortion and how it affects your life  
   experience and how you have to control  
   your environment this is your  
   environment information that you're  
   letting into your world to affect your  
   cost-benefit analysis of how to how to  
   move forward and make choices for  
   yourself that is the kind of environment  
   that we're always talking about and the  
   only thing over which you have any  
   meaningful control and so if you're  
   being exposed to bad information that is  
   that is giving you bad or incorrect  
   conclusions about what you're facing  
   you're going to make incorrect  
   inferences and an incorrect cost-benefit  
   analyses for how to use your time and  
   energy and you're particularly if you  
   have a personality that is wired to be a  
   little more anxious a little more  
   unstable a little more a little more  
   concerned or you're being directly  
   impacted because you're your livelihood  
   has been affected more directly or your  
   living circumstances have been like this  
   is this is unnecessarily turbulent for  
   people if they don't understand what's  
   really going on so we're doing this  
   we're going through this over and over  
   again and really trying to make it very  
   clear because we want to understand for  
   ourselves because we're going through  
   the same process everybody else is weird  
   sitting here in our little respective  
   social isolation pods and run in math  
   and trying to understand so we can make  
   good choices and understand but also  
   because we're talking to clients  
   constantly who are who are suffering  
   needlessly because they don't have good  
   information so we just want good  
   information to be summarized and  
   available for people so they can they  
   can understand and move forward  
   meaningfully absolutely I think one of  
   the things you and I talked about must  
   air so was that this is a you know  
   obviously this is a horrendous process  
   and however I think at the end of it  
   we're gonna find we're gonna find lives  
   lost and and you know certainly a  
   tragedy but it's not going to be even  
   close to what we were fearing right  
   and as a result we talked about how this  
   is a great dry run yes it's a rehearsal  
   for a true a true disaster true 5% 10%  
   1% massive contagion Ebola type  
   situation which you know is always sort  
   of at the at the gates like that's  
   always possible it's certainly been a  
   recurring theme in Hollywood yes yeah  
   but yeah even 1% even 1% of something  
   like this is sufficiently truly  
   catastrophic to to derail institutions  
   and and really destroy the healthcare  
   system as we know it in the way in the  
   ways that you see these headlines and  
   and a lot of the the rhetoric that is  
   leaning in this direction but we don't  
   think that this is that disease for all  
   of the reasons that we're talking about  
   here but we are learning such important  
   things from it and you said you said  
   last week the the great John Wooden  
   quote you know if when you lose don't  
   lose the lesson and so this is I mean  
   there's so many lessons here about how  
   we've we've been in the an informational  
   vacuum for too long and looking looking  
   in the wrong places for how to  
   understand what we're dealing with and  
   and now it's like okay now we now we  
   understand how to get a real proper case  
   fatality ratio and and and look at the  
   the presence of this an entire  
   population and not to make these  
   mistakes again  
   sure yeah next time I want these people  
   the geniuses that are supposed to know  
   to grab a cohort very quickly yeah that  
   number in your calculator as fast as you  
   can so you can inform actually all the  
   world so that the world doesn't miss  
   manage its resources in a crisis okay  
   all we can do in a crisis is to to  
   manage the resources base because  
   intelligently as possible and that that  
   requires the most precise data that we  
   can get our hands on and this the great  
   uncertainty of what this is I I I call  
   it you know it's a it's an order of  
   magnitude or more but it's it's an order  
   of magnitude question yeah why  
   you know if you  
   No and some investment if you're gonna  
   lose you know five percent of your  
   fortune or 50 percent of your fortune  
   that's very scary oh sure it's like huge  
   that's too big of a difference yeah huge  
   difference that's why I'm sniffing from  
   what you're from what you're saying and  
   what I heard I'm sniffing that they know  
   yeah I think that I'm heartened by this  
   and we're in for an extremely messy and  
   heart-wrenching couple of months but I  
   think that's I think that's what it  
   looks like yeah yeah yeah well the I  
   think I think that's pretty much what I  
   have to say any any final thoughts I  
   know I think that I covered most of them  
   in my last rant that just I think you  
   know there was that there was that  
   headline today about the the German  
   financial minister who committed suicide  
   because of because of his sort of  
   concern about this looking at this and  
   inferring again a bad cost-benefit  
   analysis from bad information and  
   thinking that he was up against a an  
   intractable disaster that he could not  
   do anything about and and running a CV  
   through through a filtered personality  
   that led him to decide to commit suicide  
   and so this is this is the kind of thing  
   that we're having this conversation  
   because we want to avoid that outcome we  
   want people to understand what they're  
   really dealing with and to D distort the  
   information environment so they can make  
   the best possible choices and the best  
   possible inferences it's just there's  
   nothing more important than that in any  
   area of life that's the whole it's what  
   we're up to all the time that is  
   literally what we're doing we are D  
   distorting that is the whole purpose of  
   evolutionary psychology therapy and so  
   this this is when you're dealing with  
   something that is this disruptive and  
   this is contributing to so much  
   uncertainty it's never more important to  
   D distort and to get clear on the  
   information and to you know we're not  
   we're not trying to be unreasonably  
   optimistic for the sake of just being  
   optimistic or for staking out some kind  
   of claim and a grand debate we're really  
   trying to get get the truth the capital  
   T truth on this situation so people can  
   can just live their best lives  
   Paul I would add to that that well we  
   may talk about this more if questions  
   warrant or if people have other specific  
   questions that we didn't cover or if  
   they want to they want to hear more  
   maths claiming from the great dr. Lyle  
   and I can always come back to it and  
   cover a couple more next week  
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