The handwaving arguments in this letter are not convincing (especially the "You do also understand that, as long as the rate of increase is exponential, no linear solution to contrast it will work (I.e. increasing x times the number of ICU machines, etc.)" nonsense). The stats in this very letter indicate that 10% of patients require ventilators, which cost about $4000. So even if the entire population were sick at the same time, would need population * 0.1 ventilators, at a cost of $400 per resident.

The fact that we haven't spent $400 per resident to stockpile ventilators is a failure of society and a failure of government. The economic damage over these next few weeks will be far, far greater than $400 per resident.