Thursday, 1 October 2020

Economies Bounce Back, Grandparents Not So Much

 If Capitalism has taught us anything, it is that at least once a decade everything will come crashing down around our ears and the finances of nations will plummet, businesses will fail and people will lose their jobs but as the people who run things profit so happily from the awful system, they keep with it and over time it builds and things return to normal before it all comes crashing down again but the point is that economies always come back.
The current Coronavirus has hit almost every Global economy to varying degrees, the Office for Budget Responsibility puts the UK's current Covid-19 tab at £300 billion which is huge but dwarfed by the £7 trillion the 2008 credit crisis cost the UK according to the Bank of England and after over a decade of austerity and cut backs and all manner of Conservative Party nonsense, we finally managed to drag ourselves back into the black and then the global pandemic hit and it's back into the red we went.
I am hearing more and more the reasoning that the lock-down that most Governments undertook has destroyed their economies and another lock-down shouldbe avoided at all costs but the flipside to that which never seems to get mentioned is that staying 'open' and saving the economy would result in the widely dismissed 'herd immunity' where more people contract, and either gain immunity or die, from the disease currently rampaging around the Globe.
I always found it strange when Boris Johnson would say that the most important aspect of this pandemic is not overwhelming the NHS because i always thought the most important aspect was people not dying needlessly but i decided to take it that he meant an overwhelmed NHS would mean less people able to be treated and therefore dying so it's the same same objective, just that the Government took two steps to get to where i was with my one.   
Now with a Resurgence of Coronavirus and the UK numbers rapidly heading the wrong way, local lock-downs are being enforced in a growing number of regions and the straw blowing in the wind seems to indicate that whether we get there in a series of local steps or by the Government making a UK wide ruling, another lock-down is coming and the call to avoid a devastating all encompassing lock-down is growing.
It is true that lock-downs will not rid us of Coronavirus but it was never designed to do that, it is to buy us time and save lives until we develop the vaccine that gains us all the immunity we need and the smart money is on that arriving sometime in mid 2021.
Economies bounce back, it may take a while but they do come back finally as the spate of booms and busts under the undependable Capitalist system has shown but if they catch Coronavirus because some people were more concerned with keeping the economy going because of threats to their financial situation, the only bouncing Grandpa Joe and Grandma will be doing is when their coffin hits the ground.

1 comment:

Falling on a bruise said...

Don’t forget the 40,000 gun deaths that could be eliminated by banning guns. Weird how you try to make it a left v right thing, only in America.