Right to Life
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Official Report on the Pandemic - V
The Economics of Covid
Despite the lies, the deceit, and the fact that the so-called “experts” were on multiple occasions making up policies on the fly with no scientific grounding, the US government (and many others) went forward with radical lockdowns that saw the global economy grind to a screeching halt. The economic consequences were as predictable as they were disastrous. Stores shuttered, markets crashed, and supply chains became incapable of delivering sometimes basic items as store shelves rapidly emptied.
Unwilling to consider alternatives, and having too long ignored the warning cry of Taiwan that a dangerous new disease was raging in Communist China (pp. 173-175), the US government then proposed to alleviate the very economic catastrophe it was causing by introducing stimulus packages and financial aid. To fund these two initiatives our government turned to the money-press, and soon more dollars had been printed in the course of a few years than the rest of American history combined. More than doubling the monetary supply inevitably led to spiraling inflation, a problem we are still struggling with to this day.
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The House Subcommittee led by Col. Brad Wenstrup that issued the Official Report we are analyzing did not confine its investigation to policy, official lies and health outcomes. Investigation into the economic ramifications of the Pandemic policies and lockdowns identified major consequences stemming from the corruption, mismanagement and rampant fraud that stymied the government’s attempts to avert the very recession caused by its own policies.
Even when officials were first declaring that we needed to lock down for just 15 days to “flatten the curve,” behind the scenes they were already preparing for long haul lockdowns that would end up lasting years (p. 214). Such lies guaranteed that both individuals and businesses would be unprepared for how long the crisis would truly last.
Goodbye small business
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The Official Report observed that the American trend of small businesses being out-competed by large corporations vastly accelerated during the Covid lockdowns (p. 377). Foot traffic evaporated, supply chains were massively disrupted, and companies not large enough to have ample assets to survive the struggle were shuttered. By August of 2020 alone 163,735 businesses had closed due to the Pandemic, with 60% of these becoming permanent closures (ibid).
Though the government promised much needed financial relief, much of it ended up being funneled into the hands of big business, leaving the small and family owned business out in the cold. Many small businesses did not even apply for aid, citing that the application was either too confusing to navigate or that the government would reject their plea anyway (p. 378). Rural and low-income areas were particularly affected, with unemployment rising to rates that rivaled the Great Depression (ibid).
Fraud
As with all things governmental, the financial assistance touted to address the crisis of lockdowns was riddled with rampant fraud.
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Of the fraud uncovered by the Official Report, a staggering loss of $191 billion due to fraud is recorded. Fraudulent unemployment claims jumped by an estimated 11-15%, with resulting losses estimated up to $135 billion. The vast majority of this money was unable to be recovered (pp. 153-156).
Further analysis indicates more long term economic damage. The Official Report concludes that due to loss of work and closed businesses, 25% of the entire workforce will have to undergo additional training by 2030 (p. 396).
The emergence of AI
With the artificially mandated closure of schools and businesses came a sudden and artificial need for technology to bridge the gap of forced isolation and social distancing. Suddenly everyone needed to have a computer, camera and microphone to hold long distance conversations that previously would have taken place in person. With this jump in technological demand came an additional surge in the development of Artificial Intelligence.
AI began to be used for widespread applications first during the Pandemic years and its use has only expanded since. Two-thirds of executives queried as part of the investigation on economic impact admitted they are now looking to automate low wage jobs and replace workers with AI. This trend has only accelerated since the Pandemic (p. 396).
Nobody knows how or when it will end. The lockdown policies of the Pandemic spurred the innovation of AI in ways that humanity may come to deeply regret.
The problem with aid
In addition to the rampant fraud that consumed billions meant to aid those who lost their jobs, further criminal activities siphoned money intended to aid businesses.
The Official Report concludes that the actions taken by the government could have been executed much more effectively. With little oversight, few restrictions, reliance on self reporting, and massive reliance on lockdowns and policies that demonstrably neither worked nor were grounded on science, our nation and many others were needlessly thrown into economic turmoil in ways from which we have yet to recover.
Supply chain disruptions, inflation from printing money, even the accelerated pace of AI and automation replacing humans and putting people out of work all has its roots in the failed and frantic Covid-19 government response.
Surely they were stressful times, and the government could not be idle, but the simple yet damning conclusion of the Official Report is that it had the options to do much better.
To be continued
For the full 520 page After Action Review of the Covid-19 Pandemic: The Lessons Learned and a Path Forward, click here.
Unwilling to consider alternatives, and having too long ignored the warning cry of Taiwan that a dangerous new disease was raging in Communist China (pp. 173-175), the US government then proposed to alleviate the very economic catastrophe it was causing by introducing stimulus packages and financial aid. To fund these two initiatives our government turned to the money-press, and soon more dollars had been printed in the course of a few years than the rest of American history combined. More than doubling the monetary supply inevitably led to spiraling inflation, a problem we are still struggling with to this day.
The US money supply was doubled during Covid, leading to inflation
Even when officials were first declaring that we needed to lock down for just 15 days to “flatten the curve,” behind the scenes they were already preparing for long haul lockdowns that would end up lasting years (p. 214). Such lies guaranteed that both individuals and businesses would be unprepared for how long the crisis would truly last.
Goodbye small business
Lockdowns shuttered economies worldwide
Though the government promised much needed financial relief, much of it ended up being funneled into the hands of big business, leaving the small and family owned business out in the cold. Many small businesses did not even apply for aid, citing that the application was either too confusing to navigate or that the government would reject their plea anyway (p. 378). Rural and low-income areas were particularly affected, with unemployment rising to rates that rivaled the Great Depression (ibid).
Fraud
As with all things governmental, the financial assistance touted to address the crisis of lockdowns was riddled with rampant fraud.
Billions were lost in fraudulent unemployment claims alone
Further analysis indicates more long term economic damage. The Official Report concludes that due to loss of work and closed businesses, 25% of the entire workforce will have to undergo additional training by 2030 (p. 396).
The emergence of AI
With the artificially mandated closure of schools and businesses came a sudden and artificial need for technology to bridge the gap of forced isolation and social distancing. Suddenly everyone needed to have a computer, camera and microphone to hold long distance conversations that previously would have taken place in person. With this jump in technological demand came an additional surge in the development of Artificial Intelligence.
AI began to be used for widespread applications first during the Pandemic years and its use has only expanded since. Two-thirds of executives queried as part of the investigation on economic impact admitted they are now looking to automate low wage jobs and replace workers with AI. This trend has only accelerated since the Pandemic (p. 396).
Nobody knows how or when it will end. The lockdown policies of the Pandemic spurred the innovation of AI in ways that humanity may come to deeply regret.
The problem with aid
In addition to the rampant fraud that consumed billions meant to aid those who lost their jobs, further criminal activities siphoned money intended to aid businesses.
The Official Report concludes that the actions taken by the government could have been executed much more effectively. With little oversight, few restrictions, reliance on self reporting, and massive reliance on lockdowns and policies that demonstrably neither worked nor were grounded on science, our nation and many others were needlessly thrown into economic turmoil in ways from which we have yet to recover.
Supply chain disruptions, inflation from printing money, even the accelerated pace of AI and automation replacing humans and putting people out of work all has its roots in the failed and frantic Covid-19 government response.
Surely they were stressful times, and the government could not be idle, but the simple yet damning conclusion of the Official Report is that it had the options to do much better.
To be continued
Posted June 23, 2025
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