Then I would ask without the market crash would they even bother to spend money on testing, etc.? Or would that be a chicken or egg argument?
I think it would be no different. It is evident most investors don’t really believe the market is more than temporarily depressed.
It seems to me there are some bottlenecks to both widespread testing and utilization of treatments. It has seemed to me both are affected by a sort of possessiveness on the part of the medical community; a bit like how a doctor will automatically reject an idea if it’s posed by a nurse.
That’s somewhat tongue in cheek, but not entirely.
I recall that the CDC kept its grip on testing, bottlenecking it through its own facilities. When it finally loosened that grip, things were pretty far along, and a dispersal of methodologies and manufactories followed. There are a number of tests, manufactured by a number of producers. I don’t see how that could fail to be wasteful and inefficient.
There are oddities. Around here, at least, if you go to a doctor to get tested, you might as well go to the bank and ask for a thousand dollar bill for free. If they don’t diagnose CV clinically themselves, they won’t do it. But if you go to the health department, they’ll test you for the asking. I’m sure that varies, but there really is a territorial aspect to this.
Add to that the mystery that surrounds Covid, and it’s difficult to get any kind of coherence out of it. Government has a lot to do with whether you can get tested or not. Government controls your potential exposures to a degree. Various government entities do not all act the same way. There are those who declare that Covid is the next thing to the Black Death. There are those who say it’s not much more than the common cold. And there are doctors on every side of it, and politicians on at least that many sides of it. We hear it asserted that 25% of the deaths in NYC are in the nursing homes. At the same time, we hear that 81% in Canada are. Obviously, somebody is wrong.
“Science” has become the new god, even when it’s wrong. And when “science” (meaning doctors of renown) changes its tune, many change tunes with it.