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25+ stock market statistics 2022

The stock market is not just where shares of publicly listed companies trade, it’s perhaps the most vital component of the free market economy. While…

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The stock market is not just where shares of publicly listed companies trade, it’s perhaps the most vital component of the free market economy. While companies use the stock market to sell shares for the purposes of raising funds for their operations, there’s something else that is so essential to the sector. The market offers everyday investors the opportunity to buy shares and grow their investment.

However, the market is vast and it might pay for an investor to have a grasp of the broader market via access to the latest stock market news, right information, particularly knowledge of how the market works. Indeed, notable facts and statistics for key areas of the market can help one formulate important decisions before they are in stocks.

These 25+ most interesting stock market statistics for 2022 offer a great starting point heading into 2023. 

Top stock market stats for 2022

  • The global stock market capitalization is $105 trillion as of November 2022; it was $121 trillion in December 2021.
  • The United States stock market accounts for 44% of the world’s stock market capitalization.
  • The S&P 500 Index has declined nearly 17% year-to-date (November 2022) after a brutal bear market.
  • Almost 56% of American adults own stocks, while it’s 89% among the wealthiest households.
  • On average, a bear market lasts about 10 months while the average bull market takes nearly three years.

Global stock market statistics

1. The Frankfurt Stock Exchange is the oldest in the world

The world’s largest stock exchange may be in the United States, but Europe takes the mantle when it comes to the largest stock exchange by age. According to Statista, that honour goes to the Frankfurt Stock Exchange, founded in 1585 (437 years ago).

2. 11 stock exchanges were founded more than 100 years ago

The New York Stock Exchange and London Stock Exchange are second and third oldest stock exchanges in the world at 229 and 220 years old respectively. However, 11 stock exchanges have clocked 100+ years.

3. The global stock market capitalization hit a record $121 trillion

Despite the COVID-19 pandemic hit to the global equity market in 2020, the total market capitalization worldwide hit a peak of $121 trillion in late 2021. As of November 2022, the global market cap of all companies listed on stock exchanges was at $105 trillion. (Statista)

4. The United States accounts for 44% of total stock market cap

The major stock exchanges in the United States account for the greatest share of the stock market cap in 2022. As of November 2022, the total market capitalization of all publicly listed US stocks was $46.4 trillion, up from 40.7 trillion in 2020.

5. The top 5 countries account for 74% of stock market capitalization

The United States, China, Japan, Hong Kong, and Canada are the world’s largest stock markets, with the listed companies in these countries accounting for 74.43% of global market capitalization at over $92 trillion.

6. The New York Stock Exchange is the world’s largest stock exchange with over $23 trillion in market cap as of November 2022

The New York Stock Exchange in the United States is the world’s largest stock exchange. NYSE had a stock market capitalization of over $23 trillion as of November 2022. The NASDAQ and the Shanghai Stock Exchange completed the top 3 at the time with just under $20 trillion and $7 trillion respectively.

7. 19 of the world’s largest stock exchanges all have a market cap of $1 trillion or more

The New York Stock Exchange, Nasdaq Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchange and the Shenzhen Stock Exchange are the world’s top 5 markets. A total of 19 stock exchanges around the world are ranked with $1 trillion or higher worth of market capitalization.

8. Apple is valued at $2.37 trillion, the world’s company by market capitalization

US-based technology giant Apple Inc. (NASDAQ: AAPL) is the world’s largest company by market capitalisation. The iPhone maker reached a landmark $3 trillion market capitalization in January 2022, and although it’s currently set at $2.37 trillion it still ranks as the world’s largest corporation by market cap.

9. Globally, only 4 companies have a market cap exceeding $1 trillion

The global trillion-dollar club in the stock market only has five members as of November 2022. Apple leads with over $2.3 trillion in market cap, having briefly hit $3 trillion earlier in the year. The others with $1 trillion+ are:

  • Saudi Aramco – $1.955 trillion 
  • Microsoft – $1.807 trillion
  • Alphabet (Google) – $1.234 trillion

According to CompaniesMarketCap, Amazon.com, Inc. (NASDAQ: AMZN) was out of the trillion-dollar club as of November 2022 with $942 billion.

10. The world’s most expensive stock is Warren Buffet’s Berkshire Hathaway

Warren Buffet’s Berkshire Hathaway Inc. (NYSE: BRK.A) is the world’s most expensive stock, valued at $477,019 as of 25th November 2022. The reason for this scenario is that the company has never done a stock split, which gives the single share that much value.

11. Over 80% of the stock market is automated

The growth in the stock market over the years has coincided with the introduction of numerous technology tweaks. One of these developments has been automation of trades, with 2022 stock market statistics showing that more than 80% of all trades on Wall Street are enhanced by advanced technological features that improve trading speed and accuracy among others.

Stock market performance statistics

12. About 86% of S&P 500 stocks traded above their 50-DMAs as of November 2022

As the tumultuous 2022 stock market moved towards its close, financial research group Bespoke Investment shared stats showing that more than 86% of S&P stocks were trading above the 50-day moving averages as of November. At the same time, 100% of S&P 500 Consumer Staples stocks had broken above their 50-DMAs.

13. The S&P 500 index has an average return of 11.8%

The S&P 500 has had an average return of 11.8% annually since 1957. The return in 2022 could however be lower given the bear market that sees the index nearly 17% down year-to-date.

14. On average, it takes 15 months for stock markets to recover from downturns of 20-40%

The average recovery time for the stock market after a 5-10% crash is historically 30 days or so. If the pullback places within 10-20%, it usually takes about four months for markets to recover. However, for a bigger sell-off in the 20-40%range, then markets have historically needed up to 15 months to recover.

15. Stocks rally an average 114% during bull markets

While stocks decline an average of 36% during bear markets, the bull market gains have averaged 114%.

16. An average bull market lasts 991 days, or about 2.7 years

Normally, bear markets are more short-lived lasting about 289 days, or approximately 9.6 months. In comparison, bull markets last an average of 991 days or about 2.7 years.

17 Recovery after a full blown market crash takes 13 years

Historically, various factors have contributed to the slow recovery of stock markets after a full blown crash as that seen in 2008. Usually, the market navigates the reversal for 151 months, or about 13 years.

18. The S&P 500 index closed at an all-time high of 4,766.18 in December 2021

The S&P 500 rose more than 26% through 2021 to 4,766.18 points in December for its highest value on record. These came amid a bull market run buoyed by easy money flowing through the economy following the COVID-19 pandemic. Historical data however shows the S&P 500 is 17% lower as of November 2022, and was oscillating around 3,976.

19. The S&P 500 rises an average of 8% one month after market correction

While stock market corrections are frequent and happen every two or so years, the S&P 500 has historically soared an average of 8% in the 30 days that follow the correction hitting a bottom. In fact, gains after the correction bottom have hit 24% or more on average just one year later.

20. The S&P 500 fell into correction territory in February 2022

In February 2022, the S&P 500 index fell into “correction” territory, declining more than 10% from its highs in December of the previous year.

21. There have been 20 stock corrections since 1980, including in 2022

Market corrections have historically occurred once every 2 years and involve declines of between 10% and 20% from a stock index’s last all-time high. There have been 20 stock market corrections since the 1980s, with only six occasions when a decline has surpassed 20% – this included the 2020 and 2022 corrections that were bearish. In 2020, the stock market declined 34% while in 2022, the S&P 500 fell more than 20% by June 2022 to enter bear market territory.

22. The third year of a US presidential term sees an average S&P 500 return of 12.8%

US stocks usually dip after the second year of a presidential term, dropping to an average of 4.8% from .5.2%. However, the third year has usually seen a huge spike, with average gains reaching 12.8%. The fourth year sees average S&P 500 returns of 5.7%.

Stocks ownership statistics

23. 89% of adults with an income of $100,000 or more own stocks

More people whose household income is $100,000 or higher invest in stocks. According to a Gallup survey of 2021, it was established that nearly 89% of adults in the above category owned stocks. In comparison, only 25% of those with a household income below $40,000 said they owned stocks.

24. 56% of Americans owned stocks in 2022

The number of Americans who reported owning stocks in 2022 was at 56% of the adult population, translating to about 145 million people. The percentage growth showed a very slight upside from the 55% of US adults who said they owned stocks in 2020. However, the numbers were still lower compared to the 63% in 2002 and 60% in 2007.

25. Millennials own just 2.6% of all US stocks

While Millennials have been shown to have invested more in cryptocurrencies for instance, the comparative percentage who own stocks is very small. According to data by the Federal Reserve, Millennials owned just 2.6% of all US stocks by Q2 of 2022, compared to Gen X’s 26.5% and Baby Boomers’ 55%.

26. Approximately 10% of American households own international stocks

Diversification is a key trend in 2022 and data shows nearly 10% of US households have added shares of various global companies to their portfolios

27. The wealthiest 10% of Americans own 89% of all US stocks

A small number of Americans, the wealthiest 10% of the population, owned 89% of all US stocks in 2022, according research details from late 2021. The top 1% on the rich list reportedly added $6.5 trillion to their wealth in stocks during the pandemic, far more than the $1.2 trillion gained by the bottom 90% of the population that owned 11% of all US stocks.

28. 89% of Warren Buffett’s portfolio is in 12 stocks

Warren Buffet has stakes in over forty securities. However, just 12 stocks make up 89% of the Oracle of Omaha’s portfolio. As of 15 November 2022, Berkshire Hathaway’s $347.2 billion was invested in just a dozen assets, with the top three being 39.6% in Apple (NASDAQ: AAPL), 11.2% in Bank of America (NYSE: BAC), and 9.2% in Chevron (NYSE: CVX).  

The rest of the top 12 of Buffet’s portfolio as of November 2022 are:

Key Takeaway

Stock market statistics don’t tell the whole story, but they offer snippets of what and how the market is. In 2022, the bear market has the S&P 500 looking to close in the red, but as stats show, the index has gained an average of 114% every bull market and has seen about 12% in average upside movement since 1957.

All in all, the market has a lot more statistics that the best course of action is for one to do their own due diligence for every company they consider a potential investment opportunity.

The post 25+ stock market statistics 2022 appeared first on Invezz.

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Chronic stress and inflammation linked to societal and environmental impacts in new study

From anxiety about the state of the world to ongoing waves of Covid-19, the stresses we face can seem relentless and even overwhelming. Worse, these stressors…

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From anxiety about the state of the world to ongoing waves of Covid-19, the stresses we face can seem relentless and even overwhelming. Worse, these stressors can cause chronic inflammation in our bodies. Chronic inflammation is linked to serious conditions such as cardiovascular disease and cancer – and may also affect our thinking and behavior.   

Credit: Image: Vodovotz et al/Frontiers

From anxiety about the state of the world to ongoing waves of Covid-19, the stresses we face can seem relentless and even overwhelming. Worse, these stressors can cause chronic inflammation in our bodies. Chronic inflammation is linked to serious conditions such as cardiovascular disease and cancer – and may also affect our thinking and behavior.   

A new hypothesis published in Frontiers in Science suggests the negative impacts may extend far further.   

“We propose that stress, inflammation, and consequently impaired cognition in individuals can scale up to communities and populations,” explained lead author Prof Yoram Vodovotz of the University of Pittsburgh, USA.

“This could affect the decision-making and behavior of entire societies, impair our cognitive ability to address complex issues like climate change, social unrest, and infectious disease – and ultimately lead to a self-sustaining cycle of societal dysfunction and environmental degradation,” he added.

Bodily inflammation ‘mapped’ in the brain  

One central premise to the hypothesis is an association between chronic inflammation and cognitive dysfunction.  

“The cause of this well-known phenomenon is not currently known,” said Vodovotz. “We propose a mechanism, which we call the ‘central inflammation map’.”    

The authors’ novel idea is that the brain creates its own copy of bodily inflammation. Normally, this inflammation map allows the brain to manage the inflammatory response and promote healing.   

When inflammation is high or chronic, however, the response goes awry and can damage healthy tissues and organs. The authors suggest the inflammation map could similarly harm the brain and impair cognition, emotion, and behavior.   

Accelerated spread of stress and inflammation online   

A second premise is the spread of chronic inflammation from individuals to populations.  

“While inflammation is not contagious per se, it could still spread via the transmission of stress among people,” explained Vodovotz.   

The authors further suggest that stress is being transmitted faster than ever before, through social media and other digital communications.  

“People are constantly bombarded with high levels of distressing information, be it the news, negative online comments, or a feeling of inadequacy when viewing social media feeds,” said Vodovotz. “We hypothesize that this new dimension of human experience, from which it is difficult to escape, is driving stress, chronic inflammation, and cognitive impairment across global societies.”   

Inflammation as a driver of social and planetary disruption  

These ideas shift our view of inflammation as a biological process restricted to an individual. Instead, the authors see it as a multiscale process linking molecular, cellular, and physiological interactions in each of us to altered decision-making and behavior in populations – and ultimately to large-scale societal and environmental impacts.  

“Stress-impaired judgment could explain the chaotic and counter-intuitive responses of large parts of the global population to stressful events such as climate change and the Covid-19 pandemic,” explained Vodovotz.  

“An inability to address these and other stressors may propagate a self-fulfilling sense of pervasive danger, causing further stress, inflammation, and impaired cognition in a runaway, positive feedback loop,” he added.  

The fact that current levels of global stress have not led to widespread societal disorder could indicate an equally strong stabilizing effect from “controllers” such as trust in laws, science, and multinational organizations like the United Nations.   

“However, societal norms and institutions are increasingly being questioned, at times rightly so as relics of a foregone era,” said Prof Paul Verschure of Radboud University, the Netherlands, and a co-author of the article. “The challenge today is how we can ward off a new adversarial era of instability due to global stress caused by a multi-scale combination of geopolitical fragmentation, conflicts, and ecological collapse amplified by existential angst, cognitive overload, and runaway disinformation.”    

Reducing social media exposure as part of the solution  

The authors developed a mathematical model to test their ideas and explore ways to reduce stress and build resilience.  

“Preliminary results highlight the need for interventions at multiple levels and scales,” commented co-author Prof Julia Arciero of Indiana University, USA.  

“While anti-inflammatory drugs are sometimes used to treat medical conditions associated with inflammation, we do not believe these are the whole answer for individuals,” said Dr David Katz, co-author and a specialist in preventive and lifestyle medicine based in the US. “Lifestyle changes such as healthy nutrition, exercise, and reducing exposure to stressful online content could also be important.”  

“The dawning new era of precision and personalized therapeutics could also offer enormous potential,” he added.  

At the societal level, the authors suggest creating calm public spaces and providing education on the norms and institutions that keep our societies stable and functioning.  

“While our ‘inflammation map’ hypothesis and corresponding mathematical model are a start, a coordinated and interdisciplinary research effort is needed to define interventions that would improve the lives of individuals and the resilience of communities to stress. We hope our article stimulates scientists around the world to take up this challenge,” Vodovotz concluded.  

The article is part of the Frontiers in Science multimedia article hub ‘A multiscale map of inflammatory stress’. The hub features a video, an explainer, a version of the article written for kids, and an editorial, viewpoints, and policy outlook from other eminent experts: Prof David Almeida (Penn State University, USA), Prof Pietro Ghezzi (University of Urbino Carlo Bo, Italy), and Dr Ioannis P Androulakis (Rutgers, The State University of New Jersey, USA). 


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Acadia’s Nuplazid fails PhIII study due to higher-than-expected placebo effect

After years of trying to expand the market territory for Nuplazid, Acadia Pharmaceuticals might have hit a dead end, with a Phase III fail in schizophrenia…

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After years of trying to expand the market territory for Nuplazid, Acadia Pharmaceuticals might have hit a dead end, with a Phase III fail in schizophrenia due to the placebo arm performing better than expected.

Steve Davis

“We will continue to analyze these data with our scientific advisors, but we do not intend to conduct any further clinical trials with pimavanserin,” CEO Steve Davis said in a Monday press release. Acadia’s stock $ACAD dropped by 17.41% before the market opened Tuesday.

Pimavanserin, a serotonin inverse agonist and also a 5-HT2A receptor antagonist, is already in the market with the brand name Nuplazid for Parkinson’s disease psychosis. Efforts to expand into other indications such as Alzheimer’s-related psychosis and major depression have been unsuccessful, and previous trials in schizophrenia have yielded mixed data at best. Its February presentation does not list other pimavanserin studies in progress.

The Phase III ADVANCE-2 trial investigated 34 mg pimavanserin versus placebo in 454 patients who have negative symptoms of schizophrenia. The study used the negative symptom assessment-16 (NSA-16) total score as a primary endpoint and followed participants up to week 26. Study participants have control of positive symptoms due to antipsychotic therapies.

The company said that the change from baseline in this measure for the treatment arm was similar between the Phase II ADVANCE-1 study and ADVANCE-2 at -11.6 and -11.8, respectively. However, the placebo was higher in ADVANCE-2 at -11.1, when this was -8.5 in ADVANCE-1. The p-value in ADVANCE-2 was 0.4825.

In July last year, another Phase III schizophrenia trial — by Sumitomo and Otsuka — also reported negative results due to what the company noted as Covid-19 induced placebo effect.

According to Mizuho Securities analysts, ADVANCE-2 data were disappointing considering the company applied what it learned from ADVANCE-1, such as recruiting patients outside the US to alleviate a high placebo effect. The Phase III recruited participants in Argentina and Europe.

Analysts at Cowen added that the placebo effect has been a “notorious headwind” in US-based trials, which appears to “now extend” to ex-US studies. But they also noted ADVANCE-1 reported a “modest effect” from the drug anyway.

Nonetheless, pimavanserin’s safety profile in the late-stage study “was consistent with previous clinical trials,” with the drug having an adverse event rate of 30.4% versus 40.3% with placebo, the company said. Back in 2018, even with the FDA approval for Parkinson’s psychosis, there was an intense spotlight on Nuplazid’s safety profile.

Acadia previously aimed to get Nuplazid approved for Alzheimer’s-related psychosis but had many hurdles. The drug faced an adcomm in June 2022 that voted 9-3 noting that the drug is unlikely to be effective in this setting, culminating in a CRL a few months later.

As for the company’s next R&D milestones, Mizuho analysts said it won’t be anytime soon: There is the Phase III study for ACP-101 in Prader-Willi syndrome with data expected late next year and a Phase II trial for ACP-204 in Alzheimer’s disease psychosis with results anticipated in 2026.

Acadia collected $549.2 million in full-year 2023 revenues for Nuplazid, with $143.9 million in the fourth quarter.

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Four Years Ago This Week, Freedom Was Torched

Four Years Ago This Week, Freedom Was Torched

Authored by Jeffrey Tucker via The Brownstone Institute,

"Beware the Ides of March,” Shakespeare…

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Four Years Ago This Week, Freedom Was Torched

Authored by Jeffrey Tucker via The Brownstone Institute,

"Beware the Ides of March,” Shakespeare quotes the soothsayer’s warning Julius Caesar about what turned out to be an impending assassination on March 15. The death of American liberty happened around the same time four years ago, when the orders went out from all levels of government to close all indoor and outdoor venues where people gather. 

It was not quite a law and it was never voted on by anyone. Seemingly out of nowhere, people who the public had largely ignored, the public health bureaucrats, all united to tell the executives in charge – mayors, governors, and the president – that the only way to deal with a respiratory virus was to scrap freedom and the Bill of Rights. 

And they did, not only in the US but all over the world. 

The forced closures in the US began on March 6 when the mayor of Austin, Texas, announced the shutdown of the technology and arts festival South by Southwest. Hundreds of thousands of contracts, of attendees and vendors, were instantly scrapped. The mayor said he was acting on the advice of his health experts and they in turn pointed to the CDC, which in turn pointed to the World Health Organization, which in turn pointed to member states and so on. 

There was no record of Covid in Austin, Texas, that day but they were sure they were doing their part to stop the spread. It was the first deployment of the “Zero Covid” strategy that became, for a time, official US policy, just as in China. 

It was never clear precisely who to blame or who would take responsibility, legal or otherwise. 

This Friday evening press conference in Austin was just the beginning. By the next Thursday evening, the lockdown mania reached a full crescendo. Donald Trump went on nationwide television to announce that everything was under control but that he was stopping all travel in and out of US borders, from Europe, the UK, Australia, and New Zealand. American citizens would need to return by Monday or be stuck. 

Americans abroad panicked while spending on tickets home and crowded into international airports with waits up to 8 hours standing shoulder to shoulder. It was the first clear sign: there would be no consistency in the deployment of these edicts. 

There is no historical record of any American president ever issuing global travel restrictions like this without a declaration of war. Until then, and since the age of travel began, every American had taken it for granted that he could buy a ticket and board a plane. That was no longer possible. Very quickly it became even difficult to travel state to state, as most states eventually implemented a two-week quarantine rule. 

The next day, Friday March 13, Broadway closed and New York City began to empty out as any residents who could went to summer homes or out of state. 

On that day, the Trump administration declared the national emergency by invoking the Stafford Act which triggers new powers and resources to the Federal Emergency Management Administration. 

In addition, the Department of Health and Human Services issued a classified document, only to be released to the public months later. The document initiated the lockdowns. It still does not exist on any government website.

The White House Coronavirus Response Task Force, led by the Vice President, will coordinate a whole-of-government approach, including governors, state and local officials, and members of Congress, to develop the best options for the safety, well-being, and health of the American people. HHS is the LFA [Lead Federal Agency] for coordinating the federal response to COVID-19.

Closures were guaranteed:

Recommend significantly limiting public gatherings and cancellation of almost all sporting events, performances, and public and private meetings that cannot be convened by phone. Consider school closures. Issue widespread ‘stay at home’ directives for public and private organizations, with nearly 100% telework for some, although critical public services and infrastructure may need to retain skeleton crews. Law enforcement could shift to focus more on crime prevention, as routine monitoring of storefronts could be important.

In this vision of turnkey totalitarian control of society, the vaccine was pre-approved: “Partner with pharmaceutical industry to produce anti-virals and vaccine.”

The National Security Council was put in charge of policy making. The CDC was just the marketing operation. That’s why it felt like martial law. Without using those words, that’s what was being declared. It even urged information management, with censorship strongly implied.

The timing here is fascinating. This document came out on a Friday. But according to every autobiographical account – from Mike Pence and Scott Gottlieb to Deborah Birx and Jared Kushner – the gathered team did not meet with Trump himself until the weekend of the 14th and 15th, Saturday and Sunday. 

According to their account, this was his first real encounter with the urge that he lock down the whole country. He reluctantly agreed to 15 days to flatten the curve. He announced this on Monday the 16th with the famous line: “All public and private venues where people gather should be closed.”

This makes no sense. The decision had already been made and all enabling documents were already in circulation. 

There are only two possibilities. 

One: the Department of Homeland Security issued this March 13 HHS document without Trump’s knowledge or authority. That seems unlikely. 

Two: Kushner, Birx, Pence, and Gottlieb are lying. They decided on a story and they are sticking to it. 

Trump himself has never explained the timeline or precisely when he decided to greenlight the lockdowns. To this day, he avoids the issue beyond his constant claim that he doesn’t get enough credit for his handling of the pandemic.

With Nixon, the famous question was always what did he know and when did he know it? When it comes to Trump and insofar as concerns Covid lockdowns – unlike the fake allegations of collusion with Russia – we have no investigations. To this day, no one in the corporate media seems even slightly interested in why, how, or when human rights got abolished by bureaucratic edict. 

As part of the lockdowns, the Cybersecurity and Infrastructure Security Agency, which was and is part of the Department of Homeland Security, as set up in 2018, broke the entire American labor force into essential and nonessential.

They also set up and enforced censorship protocols, which is why it seemed like so few objected. In addition, CISA was tasked with overseeing mail-in ballots. 

Only 8 days into the 15, Trump announced that he wanted to open the country by Easter, which was on April 12. His announcement on March 24 was treated as outrageous and irresponsible by the national press but keep in mind: Easter would already take us beyond the initial two-week lockdown. What seemed to be an opening was an extension of closing. 

This announcement by Trump encouraged Birx and Fauci to ask for an additional 30 days of lockdown, which Trump granted. Even on April 23, Trump told Georgia and Florida, which had made noises about reopening, that “It’s too soon.” He publicly fought with the governor of Georgia, who was first to open his state. 

Before the 15 days was over, Congress passed and the president signed the 880-page CARES Act, which authorized the distribution of $2 trillion to states, businesses, and individuals, thus guaranteeing that lockdowns would continue for the duration. 

There was never a stated exit plan beyond Birx’s public statements that she wanted zero cases of Covid in the country. That was never going to happen. It is very likely that the virus had already been circulating in the US and Canada from October 2019. A famous seroprevalence study by Jay Bhattacharya came out in May 2020 discerning that infections and immunity were already widespread in the California county they examined. 

What that implied was two crucial points: there was zero hope for the Zero Covid mission and this pandemic would end as they all did, through endemicity via exposure, not from a vaccine as such. That was certainly not the message that was being broadcast from Washington. The growing sense at the time was that we all had to sit tight and just wait for the inoculation on which pharmaceutical companies were working. 

By summer 2020, you recall what happened. A restless generation of kids fed up with this stay-at-home nonsense seized on the opportunity to protest racial injustice in the killing of George Floyd. Public health officials approved of these gatherings – unlike protests against lockdowns – on grounds that racism was a virus even more serious than Covid. Some of these protests got out of hand and became violent and destructive. 

Meanwhile, substance abuse rage – the liquor and weed stores never closed – and immune systems were being degraded by lack of normal exposure, exactly as the Bakersfield doctors had predicted. Millions of small businesses had closed. The learning losses from school closures were mounting, as it turned out that Zoom school was near worthless. 

It was about this time that Trump seemed to figure out – thanks to the wise council of Dr. Scott Atlas – that he had been played and started urging states to reopen. But it was strange: he seemed to be less in the position of being a president in charge and more of a public pundit, Tweeting out his wishes until his account was banned. He was unable to put the worms back in the can that he had approved opening. 

By that time, and by all accounts, Trump was convinced that the whole effort was a mistake, that he had been trolled into wrecking the country he promised to make great. It was too late. Mail-in ballots had been widely approved, the country was in shambles, the media and public health bureaucrats were ruling the airwaves, and his final months of the campaign failed even to come to grips with the reality on the ground. 

At the time, many people had predicted that once Biden took office and the vaccine was released, Covid would be declared to have been beaten. But that didn’t happen and mainly for one reason: resistance to the vaccine was more intense than anyone had predicted. The Biden administration attempted to impose mandates on the entire US workforce. Thanks to a Supreme Court ruling, that effort was thwarted but not before HR departments around the country had already implemented them. 

As the months rolled on – and four major cities closed all public accommodations to the unvaccinated, who were being demonized for prolonging the pandemic – it became clear that the vaccine could not and would not stop infection or transmission, which means that this shot could not be classified as a public health benefit. Even as a private benefit, the evidence was mixed. Any protection it provided was short-lived and reports of vaccine injury began to mount. Even now, we cannot gain full clarity on the scale of the problem because essential data and documentation remains classified. 

After four years, we find ourselves in a strange position. We still do not know precisely what unfolded in mid-March 2020: who made what decisions, when, and why. There has been no serious attempt at any high level to provide a clear accounting much less assign blame. 

Not even Tucker Carlson, who reportedly played a crucial role in getting Trump to panic over the virus, will tell us the source of his own information or what his source told him. There have been a series of valuable hearings in the House and Senate but they have received little to no press attention, and none have focus on the lockdown orders themselves. 

The prevailing attitude in public life is just to forget the whole thing. And yet we live now in a country very different from the one we inhabited five years ago. Our media is captured. Social media is widely censored in violation of the First Amendment, a problem being taken up by the Supreme Court this month with no certainty of the outcome. The administrative state that seized control has not given up power. Crime has been normalized. Art and music institutions are on the rocks. Public trust in all official institutions is at rock bottom. We don’t even know if we can trust the elections anymore. 

In the early days of lockdown, Henry Kissinger warned that if the mitigation plan does not go well, the world will find itself set “on fire.” He died in 2023. Meanwhile, the world is indeed on fire. The essential struggle in every country on earth today concerns the battle between the authority and power of permanent administration apparatus of the state – the very one that took total control in lockdowns – and the enlightenment ideal of a government that is responsible to the will of the people and the moral demand for freedom and rights. 

How this struggle turns out is the essential story of our times. 

CODA: I’m embedding a copy of PanCAP Adapted, as annotated by Debbie Lerman. You might need to download the whole thing to see the annotations. If you can help with research, please do.

*  *  *

Jeffrey Tucker is the author of the excellent new book 'Life After Lock-Down'

Tyler Durden Mon, 03/11/2024 - 23:40

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