American public conversation about Covid-19 has become haunted by prominent voices who propose “sacrificing the old and weak at the altar of the global economy”. Republican officials, conservative economists, unqualified pundits and even the 73-year-old president of the United States (who has since changed his view) have suggested that the economic pain caused by lockdowns to protect the vulnerable might be too great.

However, positing this problem, anywhere in the world, as a trade-off between the economic interests of the young and the lifespan of the old is a terrible error. The global economic depression unleashed by the deaths of millions is beyond imagining. Trade would grind to a half because of mourning, fear of infection, society-wide trauma and social unrest. And, of course, even healthy children can die from Covid-19.

Saying that it is morally unacceptable to trade lives for GDP is missing the point. Setting aside the act that policymakers frequently do put a price on human life (the National Institute for Clinical Excellence, which decides which drugs and medical procedures to fund, says we should be spending no more than £30,000 to add one year of perfect health to one person), these high-sounding pronouncements ignore the fact that economic downturns cost lives.

The choice politicians are making is not between saving lives and economic growth, but between sacrificing lives now (visibly) and sacrificing them in the future (less visibly).

When economies shrink, poverty, violent crime and suicide rise and life expectancy declines. The Depression proved as much. Moreover, life expectancy among some deprived groups had, pre-pandemic, stalled in the UK, and gone backwards in America. If the UK’s GDP falls more than 6.4% per person as a result of the lockdown, more years of life will be lost than saved.

Currently, however, it looks more likely that we will get a deep, short recession, not a lengthy one and if businesses can struggle through, consumer demand and investment will rebound, without a significant impact on life expectancy. Possibly, but by some estimates GDP will be down 15% this quarter; the longer the lockdown – and the signs are that it could last until June – the deeper this slump could get. That’s why testing is key.

A team at Oxford University think that 50% of the UK population may already have been infected. If true, suppression measures could probably be safely relaxed. Data is crucial, because for now there are too many unknowns. But we will arrive at a time when the cost of containment measures, in terms of human welfare and even of fatalities, outweighs the cost of the virus. Refusing to face this grim calculation is not an act of high-mindedness, but of dereliction.

The Great Toilet-Roll Shortage

We all know who’s to blame for the great toilet-roll shortage: irrational hoarders and greedy panic buyers. Or are they?

Actually, we don’t need to assume that most consumers are greedy or irrational to understand why shelves are emptying. It’s all to do with supply chains.

The toiletpaper industry is split into two, largely separate, markets: commercial and consumer. Consumers are not making more trips to the bathroom, but are doing so more often at home than elsewhere due to lockdowns.

That means the average household will use 40% more toilet paper than usual if all its members are staying at home. That’s a huge leap in demand for a product whose supply chain is predicated on the assumption that demand is essentially constant.

So if you’re wondering where all the toilet roll went, mystery solved – it’s at the office. Couldn’t industrial processes and supply chains change to solve the problem? Perhaps, but then we’ll face the same problem in reverse once people head back to work again. Knowing this, we can at least stop looking down on the “idiocy” of our fellow shoppers.

Even a modest, reasonable amount of stocking up by millions of people in preparation for staying at home would be enough to deplete many store shelves of everyday items.

Today’s National Day

NATIONAL SENIOR HEALTH AND FITNESS DAY!

PUBLISHERS NOTICE

Dear Streetwise Customer 

I hope that you and your family are well. 

I don’t have to tell you that the Coronavirus outbreak has changed everything, and nowhere more so than in the world of sports betting. With almost all our regular ‘go to’ profit makers like European football, horse racing and golf on hold, you might be excused for thinking that the opportunity to make a lucrative extra income from sports betting was gone – at least for now. 

That’s what we thought until we heard from a guy called Craig Russell and how
he was… 

Making an extra £150-£250 a week exploiting the ‘invisible’ betting opportunities exposed by the Coronavirus mayhem.

 You see Craig isn’t your typical sports bettor. Long before anyone had heard of coronavirus, he was shunning the sort of events most of us bet on in favour of little-known sports, events and fixtures taking place in obscure locations. 

Why did he concentrate on those? 

Because he figured that the less ‘pro’s’  there  were  looking  at  these  obscure markets, and the more time he spent studying them, the greater edge he’d have over the competition. 

Obvious when you think about it. 

So why this message? 

Because it seems like now is the perfect time to bring this to a wider audience…but not much wider! 

You see, in conjunction with Craig we’ve put together a totally unique service which is tailor-made for the times we find ourselves in. But there will only be 100 places available. Ever.

For full details on what’s involved and why the limit, take a LOOK NOW.If an extra couple of hundred pounds tax-free income would be worthwhile to you right now, I’d urge you to get in touch without delay. These places are really going to go fast.  

  For full details CLICK HERE

  Very Best Wishes, 

  John Harrison
  Streetwise Publications 

  P.S   Almost forgot…you can get started with this for just £9.95.  I’m pretty sure that makes it our cheapest service ever. Why? Well take a look now  and all will be revealed. 

www.streetwisenews.com/LP