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We won't know the full long-term consequences for some time, but the evidence thus far mostly supports Trump's conclusion here.
First, Sweden's current death rate is significantly above their neighbors. It also is not showing signs of slowing.

Whole argument to justify that is that they would reach herd immunity quickly, but that's an assumption unsupported by evidence thus far.

nationalreview.com/corner/coronav…
If you applied that to the United States, it would likely mean hundreds of thousands more deaths in the first wave based on the possibility those deaths would have occurred anyways later, but that is not assured at all.
The second justification is that would be the right thing to do bc the economic benefits would be worth the risk of those additional deaths, but new data from Sweden suggests their economy is going to be hit as hard as neighbors who had lockdown policies.

cnbc.com/2020/04/30/cor…
& btw the biggest advocates for taking these risks based on questionable predictions are people who have gotten things wrong every step of the way and keep moving the goal posts without any self-reflection.

Go look at @BadCOVID19Takes to see what those same people said in March.
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