Honestly, it seems like the cat is already out of the bag on this one. Most scare episodes have been based on whether it actually gets out and starts spreading and it seems like that has already happened.
However, as of now it seems like just a very virulent flu but not extremely deadly (other than in Mexico for some reason where healthy people have died).
The real issue is how it mutates now that it is out. A second wave could prove deadly or it could just fizzle out. There is no way to know.
Quite a bit of blame has to be put on Mexico and they seem to have waited over a month before implementing the proper control protocols. If they followed the proper techniques, this would have never have reached this point.
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