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23-05-2020, 12:22 AM
11

Re: The Cost of the Epidemic.

I reckon

1. a lot of money is being needlessly wasted.
2. the recession won't be as bad as expected. There will be pragmatism.
3. there will be long term changes to the way we live and work.
4. those changes will lead to a better way of doing things

But some people will see big changes in their lifestyle. Particularly the very wealthy. While some may make short term financial gains playing the markets, those gains will evaporate following a revolution in financial systems the like we have never seen. By that I mean drawing of baselines. Have to wonder whether this is Bitcoin's moment.
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23-05-2020, 12:24 AM
12

Re: The Cost of the Epidemic.

Originally Posted by Morticia ->
I think we can safely say one thing ...

If the R number gets to 1 again ... or there is a second wave (which is highly likely) .. the government won't call another lockdown after seeing how damaging and costly the first one is ..
They'll regretfully, but probably out of necessity allow it to rip through the population, do it's worst and have done.
Or I'm just plain cynical.

If that happens I will stay in lock down. We don't even know if people who got it fairly mildly are immune after. It could wipe out the whole population.
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23-05-2020, 12:37 AM
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Re: The Cost of the Epidemic.

Originally Posted by AnnieS ->
I reckon

1. a lot of money is being needlessly wasted.
2. the recession won't be as bad as expected. There will be pragmatism.
3. there will be long term changes to the way we live and work.
4. those changes will lead to a better way of doing things

But some people will see big changes in their lifestyle. Particularly the very wealthy. While some may make short term financial gains playing the markets, those gains will evaporate following a revolution in financial systems the like we have never seen. By that I mean drawing of baselines. Have to wonder whether this is Bitcoin's moment.

Some wealthy people are showing their despicable colours by taking the governments furlough for their employees.
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23-05-2020, 05:11 AM
14

Re: The Cost of the Epidemic.

Originally Posted by Muddy ->
Some wealthy people are showing their despicable colours by taking the governments furlough for their employees.
I suspect it's not just the high profile cases. The system is open to abuse but then on the other hand those who really need it cannot access funds. So some are far better off than they might have been were it not for the virus. Others have nothing to live on.
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23-05-2020, 05:14 AM
15

Re: The Cost of the Epidemic.

There was an interesting article by two economics professors which calculated the real cost/benefit of the pandemic lockdown. Basically they found that the benefits of the lockdown far out weighed those of letting the virus rip to create herd immunity.

As Australia begins to relax its COVID-19 restrictions there is understandable debate about how quickly that should proceed, and whether lockdowns even made sense in Australia in the first place.

The sceptics arguing for more rapid relaxation of containment measures point to the economic costs of lockdowns and appeal to the cold calculus of cost-benefit analysis to conclude that the lives saved by lockdowns donít justify the economic costs incurred to do so.

Their numbers donít stack up.

To be able to weigh the value of a life against the economic costs of forgone output from lost jobs and business closures, requires placing a dollar value on one personís life. This number is called the value of a statistical life.
It really is worth reading.

https://theconversation.com/the-cost...benefit-138303
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23-05-2020, 09:40 AM
16

Re: The Cost of the Epidemic.

As an aside, I think it's time to stop using the word "Billion".

It, sort of makes it sound a lot less than it is.

For example, if we say that we owe the EU 30 Billion (not accurate!), it doesn't seem to be anything much, but the number £30,000,000,000 gives a very different perception (IMO).

p.s. Glad we're out!

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23-05-2020, 10:42 AM
17

Re: The Cost of the Epidemic.

Hi

There is a cost to pay, nobody will be exempt.

Pensions have not been affected so far.

Those who pay for them, the working population,have been seriously hit.

Tax revenues are down massively and these are what pay for our State Pensions.

Those who have Private Pensions, these are paid out of Company Profits and Dividends.

These are disappearing at an amazing rate.

We will all be affected.

The value of Pension Funds has been hugely affected, even so called safe investments like BT and Rolls Royce have fallen heavily.
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23-05-2020, 11:47 AM
18

Re: The Cost of the Epidemic.

Originally Posted by The Artful Todger ->
Who are "they" - and whoever "they" are they're very wrong.
https://www.independent.co.uk/news/u...-a9514231.html
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23-05-2020, 11:59 AM
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Re: The Cost of the Epidemic.

They are very wrong.
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23-05-2020, 12:06 PM
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Re: The Cost of the Epidemic.

Originally Posted by The Artful Todger ->
They are very wrong.
In your opinion.
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