The Swine Flu Epidemic Fails To Do Economic Damage

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By Douglas A. McIntyre Updated Published
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bearSwine flu vaccinations have been slow to get to those who want to be treated. The Centers for Disease Control and Prevention says that about 22 million American have contracted the disease and of those almost 4,000 have died.  The number of people who have had to go to hospitals because if the illness is less than 100,000.

It is remarkable that more thsn  7% of Americans have the flu or have had it, and the effects on the medical system and economy have been nonexistent. The death rate from the disease appears to be lower than the seasonal flu. There have been very few reports that companies have had to close large facilities or that earnings may be undermined by the spread of the H1N1 virus.

The effects of the swine flu epidemic were almost certainly overstated by government health agencies, which means the threat that the disease will cause the American economic recovery a setback is bogus.

The mild impact of an outbreak of H1N1 is extremely good news for the government. The disease has not only had little effect on businesses and healthcare facilities; those effects have been modest even with a low supply of vaccine. People who are contracting the disease are rarely sick for long and it is even more rare that the disease keeps people out of work and in emergency room in any large number.

The H1N1 warnings have turned out to be exaggerated, which in a sense is too bad. If a dangerous flu begins to spread next year or the next, people will ignore warnings from government health officials. The CDC and other agencies have used up their credibility.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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