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I've also pointed out that I think the Government should do as much as it can to support businesses during what is essentially only a pause in the economy. There's no reason it will not recover, providing the Government (and worldwide governments) use the macroeconomic levers they can to plug the gap for everyone for a few short months. Where will the money come from? You ask. What you haven't grasped is that at macroeconomic level trillions of dollars, pounds and euro of debt doesn't really exist in any meaningful way if there's a co-ordinated step by the major economies to exploit quantitative easing and low interest rates. You've been reading far too much right wing nonsense if you assume that such steps automatically makes us Venezuela. It didn't in 2008 when we bailed out the banks, and it wouldn't now. Yes, naturally GDP will fall during this pause, however that's only one economic measure and not particularly useful when you know that it is intentional to support dealing with the health crisis. It doesn't measure the wealth of the country, for example. |
Re: Coronavirus
Was thinking at weekend (it was the barbie that smelled of smoke) about the different strains of the virus and the longer term impact on immunity.
One reason for the common cold returning is that it doesn't make the patient ill enough to produce a strong immune response. Mutations are another but this could combine with the former. Asia and western US have predominantly been infected with strain A that is less virulent or causes less extreme symptoms than strain C that has been the main form in Europe and eastern US. If a more extreme symptom can lead to a better immune response and the reverse is true -
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Additionally, we will have run out of money well before even another three more months of this, so anyone who thinks this will carry on until we have a vaccine is going to be disappointed. Back to work sooner rather than later, chaps. |
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You've put up a nice straw man there of a lockdown for 18 months - a situation nobody expects and nobody advocates. The UK Government position, based on medical advice, is for social distancing measures to remain and adjusting to a new normal. Can you evidence that we will run out of money within three months? Or is that merely your own hyperbole. |
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What 2008 did for us was 10 years of austerity. We are already in a worse position than in 2008 due to the lockdown. I'm not sure what economic theory you are using to reassure yourself that everything is actually OK. It most certainly is not OK. |
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No one except you has mentioned lockdown for 18 months.
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However, I will be most interested to know how that will work in practice with our overcrowded public transport systems. |
Re: Coronavirus
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Meanwhile, even allowing for the 'rally to the flag' effect, Boris is ridiculously popular at the moment. He's outstripping the whole G7. In the chart of 9 major economies here: https://morningconsult.com/form/appr...amid-pandemic/ he's pipped only slightly, by the president of Mexico. Where approval increases have occurred, they have tended to level off - except in Johnson's case, which as of right now is still rising steeply (though I admit I can't see how it can possibly go much higher, because that would require him to make serious inroads into the 'i always vote for der laber, my dad voted for der laber, my grandad voted for der laber, we all vote for der laber in mi house, i hate torees.' territory).
https://www.cableforum.uk/board/atta...1&d=1587982405 |
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Some will point out that testing is the answer, but none of them are reliable. They may give a false sense of security, but they are not a solution. As I said before, social distancing is not practical. I mentioned public transport, which is obvious, but what about hairdressers, dentists and all those other workers who have no choice but to get close to their customers? Are we going to stop them working for 18 months? We'd better hope that the theory I mentioned some posts back that the virus will die out naturally (as did previous coronaviruses) is correct, because that is the best solution of all, but it is out of our hands. |
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You warn, almost gleefully, of the dangerous second wave coming for other countries yet ignore the fact we are at precarious risk of it here. There's plenty of economic theories that demonstrate state intervention can kickstart economies following a slump. We made our way out the Great Depression with Keynesian economics and similarly could do so again. I understand it goes against your views ideologically, fundamentally essentially it demonstrates market failure and relies upon state intervention, however that's never been a valid reason to not do anything. |
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