Thread: Coronavirus
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Old 06-11-2020, 22:48   #798
1andrew1
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Re: Coronavirus
Great Tweet thread from Ed Conway "Numbers guy" of Sky News. Includes the following:
Quote:
Just yday BoE announced it was printing £150bn of cash. This is a MASSIVE deal, yet there was little shock in markets. Part of the explanation: BoE was v transparent abt what it was doing, so no surprises. Agree with them or not, at least everyone could see their workings.

Now imagine BoE did said: "We're printing money because the economy is doing worse than our worst-case scenario," but then refused to publish the worst-case scenario. There would be uproar. Markets wld be all over the place as people speculated what on earth was going on.

Well, that's precisely what @10DowningStreet has done with the English lockdown. Recall PM press conference on sat. His explanation for this lockdown? "The virus is spreading even faster than the reasonable worst case scenario of our scientific advisers"

But here's the thing: Downing St had NEVER PUBLISHED THE RELEVANT REASONABLE WORST CASE SCENARIO (RWC). As far as I can see they still haven't. Indeed, the latest RWC on the Sage site dates back from May. This is an extraordinary lack of transparency.
https://twitter.com/EdConwaySky/stat...19551335403520
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