Covid doom predictions that never happened
Five prophecies of economic ruin that thankfully didn't come to pass
Noah Smith
21 hr ago
Unfortunately, many of the bad predictions about COVID-19 came true. The people who saw cases ramping up exponentially, and warned that this was going to be a mass death event, were right, while the people who minimized the threat and waved it away were wrong. And a lot of people are dead because we didnt listen to the former.
But economic predictions are a different story. When unemployment spiked to Great Depression levels in the early days of lockdown, it seemed to me and to many, many others like this downturn was destined to turn into a decade of mass economic hardship. Fortunately, that was completely off the mark! I got it very wrong and Paul Krugman got it right with no financial crisis and no big overhang of debt, the economy simply wasnt destined for a repeat of 2008-12. Though the recovery has proven bumpy thus far, but most economists still forecast a relatively swift return to the pre-pandemic growth trend.
In fact, this was one of many predictions of economic doom that failed to materialize. Heres a quick list of a few others.
1) Suicides fell
Suicides had been rising in the U.S. for years prior to the pandemic, and many people predicted that the stress and isolation of lockdown would send the rate soaring even higher. An article in JAMA Psychiatry in April 2020 predicted:
cont'd
https://noahpinion.substack.com/p/covid-doom-predictions-that-never