Italy may not be a good comparison for a few reasons. First, Italy has been a rather popular destination for Chinese tourists; i.e., they may have had a disproportionate number of visitors with the infection versus other countries. Second, Italy has demographically aged (susceptible) population. Third, they have had a very large number of 'ordinary' flu deaths for at least the past five years. Note the 68,000 flu deaths in the three year study period; not sure where you are getting, "Far beyond what they see for a normal year from flu deaths."
Here's an excerpt from the journal study (https://www.ijidonline.com/article/S1201-9712(19)30328-5/fulltext):
Results
We estimated excess deaths of 7,027, 20,259, 15,801 and 24,981 attributable to influenza epidemics in the 2013/14, 2014/15, 2015/16 and 2016/17, respectively, using the Goldstein index. The average annual mortality excess rate per 100,000 ranged from 11.6 to 41.2 with most of the influenza-associated deaths per year registered among the elderly. However children less than 5 years old also reported a relevant influenza attributable excess death rate in the 2014/15 and 2016/17 seasons (1.05/100,000 and 1.54/100,000 respectively).
Conclusions
Over 68,000 deaths were attributable to influenza epidemics in the study period. The observed excess of deaths is not completely unexpected, given the high number of fragile very old subjects living in Italy. In conclusion, the unpredictability of the influenza virus continues to present a major challenge to health professionals and policy makers.
Don't misunderstand me. I am NOT saying we should do nothing. I am saying we should look closely at whether we are overreacting and causing unrecoverable damage to our economy.
I think we should be paying attention to the points raised by the likes of the Stanford professor I quoted earlier.
It troubles me that it has already become politically incorrect to even question this. (Take a look at aviatoreb's response to my post)