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Badger

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Badger last won the day on April 3 2019

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  1.  Badger

    Corona Virus main thread

    Too much to deal with one one post Ron. The model is very robust and highlights the dangers of reducing aggregate demand at the wrong stage of the economic cycle. It is fashionable to denigrate economists, but the broad thrust of mainstream economics is accurate. It is quite good at predicting outcomes, but poor at predicting the timings. e.g.The trade cycle is well known, but the length of it varies. We know that when we are booming and there is a shortage of factors of production and prices are rising that a bust will come: it always does. It is timing it that is the hard thing. Ditto recoveries. I don't want to be party political so shall ignore whether particular parties have better or worse records of investment (and encouraging it) but there is an almost universal recognition at a macro level that investment leads to growth in the long term. Of course, there is variation within this: individual schemes may fail - it is the same as personal investing in that respect. If you buy individual shares you may do far better than the market as a whole or far, far worse. Many therefore "buy the market." The market is dynamic and the infrastructure to support it, is likewise but "betting the market" and encouraging a wide rage of investment would bring benefits in terms of output. I think all economists see investment as a prerequisite to growth.
  2. Thanks NN. It was one of my happiest memories of football. I was still at primary school so parts of my memory are a little blurred, but I remember the excitement of walking around and seeing so many other city fans and the excitement after the match. I couldn't believe that we were going to see George Best and Bobby Charlton next year! Happy days. Love the comments at the end of the video - I'm sure some of them are posters on here still!
  3.  Badger

    NCFC to furlough staff

    Sad to say it, but in my experience the winner in the end tends to be money Players would go and other clubs would pick them up and pay them extra because no transfer fees were involved. The club, would be liable to the outgoings that their purchase involved but have no rights over their registration.
  4.  Badger

    NCFC to furlough staff

    https://www.theguardian.com/politics/2015/apr/23/tory-candidate-julian-knight-solihull-criticised-book-tax-avoidance Read this article! Thank you Herman. It just shows the hypocrisy of some of those that have tried to jump on the moral high ground! In the same way that some of those who have criticised the club, have for years argued that we need to have richer owners, to spend more money on players and to pay them higher wages. (Not you KG, who I know comes from a very different perspective.)
  5.  Badger

    NCFC to furlough staff

    You can't cut the players wages without their consent, without running the risk of them leaving on a free and running the risk of losing tens of millions of pounds. Mihir Bose confirmed on the BBC press review last night that players have clauses in their contracts which prevents their wages from being cut and that they could leave for free if they were. I'm not saying its fair, but to act unilaterally and without consent would be foolhardy.
  6.  Badger

    Corona Virus main thread

    I'm not sure that many are saying that. I think the main points have been 1. That years of enforced (and unnecessary) austerity have left the NHS less able to deal with the crisis than it might other have been. (e.g. massive staff shortages) 2. Staff who have been denigrated for the sin of being non British, have been vilified by some (not you) yet are now heroes. The question is asked as to why their contribution was not recognised earlier. 3. The govt was slow to respond in critical areas. The lack of provision of PPE for NHS staff and key workers being a case in point. It is a world crisis, and nobody knows what is going to happen. What is clear though that some of the people who have been almost criminally under-recognised for their contributions in the past are crucial to our efforts to maintain society. Some are understandably imo, irritated that their contribution is only being recognised now.
  7.  Badger

    Corona Virus main thread

    Some of the govt's actions and that if its predecessors is inexcusable. The "magic money tree" argument was of course deeply flawed and recognised by many at the time, but exploited a lack of economic understanding of many of the electorate. Similarly the treatment of NHS staff and other "unskilled" staff has been deplorable. My point here was a very specific one about the way that Johnson and Cummings seemed to trying to centralise government, away from the traditional power centres within the civil service. As illustrated by de facto sacking of the Chancellor, they wanted to by-pass the machinery of govt that might provide a differing opinion. It is likely therefore that information that and opinions thatmight have come their way was unavailable because of the way that they had chosen to try to organise govt.
  8.  Badger

    Corona Virus main thread

    IMO, he is constructing a straw man argument. I don't think anyone thinks that ventilators are a "panacea". Rather they believe that they may be a tool on the armoury that might help. Therefore if there is a shortage of this tool, we should address it. he gives some figures in the article that I thin k are illustrative: "New England Journal of Medicine published a case series of very ill Covid-19 patients in Seattle with data up to March 23: of the twenty patients who went on a ventilator, only four had so far escaped the hospital alive. Nine had died. Three remained in suspended animation, going on three or four weeks of ventilation. Four escaped the ventilator but remained in hospital." So out of 20 - 4 escaped hospital alive and 4 are now in hospital but off ventilation. 4 remain on ventilation after 3-4 weeks. Nine died. Of course we don't know how many would have survived without ventilation but the fact 8 seem significantly improved and 3 remain alive with some hope is surely better than not being able to ventilate people at all? I don't think that ventilators are a panacea, but if I catch it very badly and ventilation might help, I would want there to be a ventilator available.
  9.  Badger

    Corona Virus main thread

    Thank you for the link Bill - you are right it is something that I should have read before. It really is a depressing thought that the current virus may follow anything like the same pattern.
  10.  Badger

    Corona Virus main thread

    I know it's the New Statesman, which will put off some people from the start, but I think this article gives a pretty fair account of the evolution of the policy. The govt was slow in reacting, perhaps for understandable reasons. I can, to some extent, understand the delay in moving to more extreme measures, but I do find it indefensible that we don't have the PPE and testing equipment that is necessary. I cannot think of any justifiable reason why we should be so short of pretty basic material given that we knew what was coming. The precise timing of the most extreme action might have been quite a complex decision, but to obtain basic protective equipment seems to me to be a "no-brainer." My guess, and it is only that, is that the "upflow" of information to decision-makers was defective. https://www.newstatesman.com/politics/uk/2020/04/real-reason-uk-government-pursued-herd-immunity-and-why-it-was-abandoned
  11.  Badger

    Corona Virus main thread

    I don't know tbh. I'm sort of giving the govt the benefit of the doubt over ventilators as I believe their manufacture can be quite a complex process. However, not having quite basic protective equipment and sufficient testing kits after a 2 month lead time seems very difficult to excuse. It just seems fundamentally wrong that we cannot provide basic equipment to key workers having known that this crisis was coming in January.
  12.  Badger

    NCFC to furlough staff

    "Norwich City’s squad, manager Daniel Falke and the executive committee agreed to donate a percentage of their salaries to buy and distribute food and essential toiletry packages in the community."
  13.  Badger

    Corona Virus main thread

    Agree. It cannot be justified that key workers and NHS staff do not have the protective equipment they need. As to the rest, which approach is best, it's too early to say. We don't have the full data yet - nor do we know whether the outbreak will revisit once it appears to have gone.
  14.  Badger

    Corona Virus main thread

    She also says, "The government says we are “unskilled”, but one thing I know for sure is that care work is highly skilled. It is unacceptable that the government does not understand what social care is and what we, as care workers, do every day. We are responsible for peoples’ lives, mobility, medication, and diet; we manage catheters, PEG feeds, stoma bags, and hoists, and collaborate closely with many other professionals. Our jobs and responsibilities are complex and they require diligence, insight, and attention to detail. The new regulations confuse, wrongly, low pay with low skill."
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