Apparently our confirmed case numbers are using tests that take 3 days whereas other places are on 4 hour testing ?
As far as I understand this isn't true e.g South Korea uses a fast test for the drive through stations, but it isn't anywhere near as accurate as the proper test, and thus if you test positive you then get funnelled into having the gold standard test.
AFAIK, nobody has a 4hr test that is as accurate as the gold standard test.
Apparently our confirmed case numbers are using tests that take 3 days whereas other places are on 4 hour testing ?
We'll be doing all sorts of testing soon.
I can imagine there will be a test before flying. At least until a vaccine has been introduced. I wonder if it's better of to have had it and have the antibodies? Maybe that'll be a requirement for international travel in the future.
Calling all PB economists - is my thinking right here?:
1. The government is going to spend a £gazillion in getting us through this crisis. 2. It can pay for that by simply printing (or rather electronically creating) money. 3. The net effect of that is to reduce the real value of each £. 4. Normally that would lead to inflation because imports would become more expensive... but... 5. Every other major economy (and certainly the EU and the US) is going to have to do the same so: 6. The net effect will be neutral.
Is that right?
If not how is this going to be paid for? (I'm assuming wacking up taxes would be a bad idea at the moment because it would supress demand.)
They said in the press conference it would all be financed through the gilts market, so no printing of money.
Given the interest rate on gilts at the moment that is the next best thing to free. But it is also misleading because the BoE is committed to buying £200bn of gilts in the market so it is really still QE.
The government wants to pretend that there is still a market for UK gilts and is willing to pay the market makers a turn for helping them. So the market makers will buy the gilts from the government in the knowledge that the BoE will buy them from them at a slightly higher price. It’s the sort of thing Labour might get angry about if they understood it.
Because it's effectively a free gift to the market makers?
Yes. Or supporting their rich banker friends as it is normally characterised.
Comments
I spoke to someone else....coughing.,...
My sister...coughing.....
Her son...fever and coughing......
AFAIK, nobody has a 4hr test that is as accurate as the gold standard test.
https://leadership.ng/2020/03/20/coronavirus-scare-consumption-of-overdose-of-chloroquine-lands-scores-in-lagos-hospitals/
https://www.aljazeera.com/news/2020/03/emergencies-closures-states-handling-coronavirus-200317213356419.html
https://www.dailymail.co.uk/news/article-8136757/Drinkers-enjoy-final-pint-start-panic-buying-alcohol-UK-WIDE-pub-lockdown.html
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So much gets spent finding out whether we like Corbyn's tie or beard. Ring people up and ask whether they have symptoms?