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#4711 |
"TRF" Member
Join Date: Jun 2017
Real Name: Sal
Location: London
Posts: 2,496
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There’s been debate on here for dozens of pages about the human cost of the virus itself versus the human cost of the economic disaster associated with trying to deal with it. I posted a while back that whilst we have an evidential basis for making predictions about the eventual mortality associated with viral infection, we don’t have similar data for the mortality associated with an economic depression.
The article I’ve linked to below starts to try to answer the question of exactly how much economic pain is worth enduring in the battle, firstly by pointing out - again - that all “Coronavirus” deaths are not equal and therefore that the mortality statistics associated with it need to be interpreted with caution; and secondly by suggesting that a contraction of the UK economy of 6.4% - which is in the ball park of the damage done by the 2008 financial crash - would cause a reduction in average life expectancy similar to that currently predicted to be associated with COVID-19. Food for thought. https://www.bbc.co.uk/news/health-51979654
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“Never argue with idiots. They will drag you down to their level and beat you with experience." - Mark Twain |
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#4712 |
2023 Rolex DAYTONA Pledge Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 7,754
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I think that the free press is necessary to hold our leaders’ feet to the fire and to make them provide accurate information to the public.
Without being political, the President who said there were fifteen cases that will soon be zero has now said there will be 100,000 to 240,000 deaths. I think that pressure from the press forces more open discourse. They are pressing for answers. That said, I can only watch the unremitting bad news briefly. And I understand that the press can sensationalize for ratings. But we need accurate information and the press can help. |
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#4713 | |
2023 Rolex DAYTONA Pledge Member
Join Date: Oct 2011
Real Name: Seth
Location: nj
Watch: Omega
Posts: 24,196
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Quote:
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If happiness is a state of mind, why look anywhere else for it? IG: gsmotorclub IG: thesawcollection (Both mostly just car stuff) |
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#4714 | |
2023 Rolex DAYTONA Pledge Member
Join Date: Dec 2010
Real Name: PaulG
Location: Georgia
Posts: 39,183
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Quote:
I’m not offended. My suggestions were not aimed at any particular person. My treatise, as it were, called mostly for some tolerance. With all this time on our hands, I can recommend a free Harvard class on Justice to anyone who wants admission to it (just PM me). And Jean Tierney has nothing to do with constitutional rights. ![]() ![]() Just lightening it up there...couldn’t help myself... Sent from my iPhone using Tapatalk Pro
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Does anyone really know what time it is? |
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#4715 |
"TRF" Member
Join Date: Mar 2018
Real Name: Larry
Location: Finger Lakes
Posts: 6,017
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Death by slippery slope vs death by an un-bended curve? Are these really our choices?
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#4716 | |
"TRF" Member
Join Date: Oct 2015
Real Name: Brett
Location: Florida
Watch: 5205R
Posts: 5,164
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Quote:
![]() I fixed it.
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Morality does not derive from consensus. It only comes from one place. Pride goes before destruction, and haughtiness before a fall. Often times unbelief is disguised as wisdom Instagram - patton250 |
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#4717 |
"TRF" Member
Join Date: Aug 2012
Location: Chicago
Posts: 1,976
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There are two classes of numbers and I think they need to be treated differently.
1. Projections. These will continue to vary with time as more information becomes available, and as we take active and passive measures to affect those numbers. Any downward trending of the numbers is good news as these projections are based on the best data available at any given time. The nearer in the future, the better those numbers are as a projection. In reality it would probably be better to provide numbers with confidence intervals, but I'm sure that is not done as it's confusing. A fair analogy would be the cone of probability used for hurricane forecasting. The further away the timepoint, the larger the possible range of outcome X. But as time passes, the cone narrows. This is frustrating to those who think in black and white absolutes, but that's the way the math works. That said, the numbers generated using statistical techniques backed by solid underlying assumptions will ALWAYS be better than some random person's opinions on the matter. 2. Analysis of the past. This is where a person's or organization's bias can skew interpretation. There are things we know with reasonable certainty, like how many COVID-19 positive cases exist, how long they have been positive, and how many have died. We can only guess at how many have actually been infected, and changing this denominator changes the discussion. Frankly, it's almost pointless to dwell on these numbers now. The cow is out of the barn, and the wave of infection across the world will continue for weeks to months, with variable rates of death depending on measures taken to prevent the spread, and the ability to care for the infected. In poorer nations that are used to working with few resources and don't take strict measures, many will die. In wealthier nations providers will need to learn how to work with limited resources, many will die, but hopefully less if the public takes measures to limit the rate of infection. |
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#4718 | |
"TRF" Member
Join Date: Mar 2020
Location: World
Posts: 66
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#4719 | |
"TRF" Member
Join Date: Aug 2012
Location: Chicago
Posts: 1,976
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Quote:
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#4720 | |
2023 Pledge Member
Join Date: Aug 2010
Real Name: H
Location: North Carolina
Watch: M99230B-0008
Posts: 5,661
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Quote:
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#4721 | |
"TRF" Member
Join Date: Oct 2015
Real Name: Brett
Location: Florida
Watch: 5205R
Posts: 5,164
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Quote:
Anybody can say that the New England Patriots are going to beat the Tampa Bay Buccaneers 56 to 0 and then halfway through the game revise that to Tampa Bay will win by seven points and still be completely wrong at the end of the game. The difference is being wrong about a hurricane or a football game doesn’t reduce the country‘s GDP by 80% and cause people to give up their constitutional rights.
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Morality does not derive from consensus. It only comes from one place. Pride goes before destruction, and haughtiness before a fall. Often times unbelief is disguised as wisdom Instagram - patton250 |
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#4722 | |
2023 Pledge Member
Join Date: Feb 2007
Location: Japan
Watch: ing your back.
Posts: 16,048
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Quote:
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#4723 |
"TRF" Member
Join Date: Mar 2019
Location: North Carolina
Posts: 228
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Coast Guard: Cruise ships must stay at sea with sick onboard
https://www.yahoo.com/lifestyle/coas...122752320.html Wow... Surprised they won't let them dock. It seems that a ship would be worse than shore. Sent from my moto z4 using Tapatalk |
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#4724 |
"TRF" Member
Join Date: Dec 2009
Location: Wales
Watch: 16610, SD4K, Exp 1
Posts: 1,098
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I think we also need to keep in mind whilst analysing different countries approaches is that not one of the countries in the northern hemisphere have covered themselves in glory.
Every one of them watched the wave roll in until it was through the front door and then reacted. If I’m wrong on that please name one that did, happy to be wrong. So any league table or debate of countries tactics is really a case of who messed it up the least. Sent from my iPhone using Tapatalk |
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#4725 | |
"TRF" Member
Join Date: Aug 2012
Location: Chicago
Posts: 1,976
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Quote:
And whether you personally trust the predictions being made by scientists, and presented by physicians and epidemiologists does not matter. They are the best we've got to go on and thankfully many of those in leadership roles are heeding the numbers and basing decisions on those numbers appropriately. |
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#4726 |
"TRF" Member
Join Date: Sep 2011
Real Name: Fabio
Location: Como - Italy
Posts: 4,712
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I'm curious about this. This is a medical emergency: do you prefer to be directed in this case by a unelected doctor expert in the matter of by an elected former lawyer or farmer of whatever? (Please note that I don't have anyone in mind, of course, I barely know two or three American politicians).
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#4727 | |
2023 Pledge Member
Join Date: Aug 2010
Real Name: H
Location: North Carolina
Watch: M99230B-0008
Posts: 5,661
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Quote:
Second, I disagree when you say hurricane predictions don't cause people to give up their constitutional rights. What do you call mandatory evacuation orders and curfews? Stay safe. ![]()
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#4728 | |
"TRF" Member
Join Date: Aug 2014
Location: U.K.
Posts: 708
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Quote:
Just as if you’re running a business. Sales look as if they’ll be a little light in the quarter? Run a promotion. Experience will tell you the best promotions to run. You know their cost, you project the profit. It really is no different, just different variables, different models. I’m sure you understand really!! ![]() |
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#4729 |
"TRF" Member
Join Date: May 2013
Location: Vain
Posts: 5,659
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"University of Bristol researchers say the benefit of a long-term lockdown in reducing premature deaths is outweighed by the lost life expectancy from a prolonged economic dip".
I don't agree with that in this case. In the 2008 crisis, sure, the cause was a bunch of bad large scale financial decisions that created an economic crisis that led to a downturn in health..not a massively contagious and lethal virus to compare it against. "There is no functioning economy unless we control the virus" I feel like it's magical thinking to believe that letting the virus run amok and stop the restrictions will allow the economy to just go back to the way it was...there will be an abundance of people too sick to spend money and work anyway.. Then, talk about financial ruin...the people who are unfortunate to catch this and spend 3weeks in a hospital without health insurance??? Huge money. Without control we will have a lot more of that. |
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#4730 |
2023 Rolex DAYTONA Pledge Member
Join Date: Dec 2007
Real Name: Dave
Location: England.
Watch: Various
Posts: 7,271
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I have come to the conclusion that my solution of "go to bed and in the morning it will have all gone away," could very well be argued to be slightly off the mark and a slightly "laid back" approach.
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KINDEST REGARDS DAVE |
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#4731 | |
"TRF" Member
Join Date: Oct 2015
Real Name: Brett
Location: Florida
Watch: 5205R
Posts: 5,164
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Quote:
I really don’t have the time to go back and look up every hurricane. Just goggle some of the big ones yourself and see how wrong they were as to where they were going to land. And when I say wrong I mean 500-1000 miles off. That didn’t stop them from bringing different sections of the economy in the southeast to a complete stop for one to three weeks while the news media went into complete panic mode and sensationalized it. Sound familiar?
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Morality does not derive from consensus. It only comes from one place. Pride goes before destruction, and haughtiness before a fall. Often times unbelief is disguised as wisdom Instagram - patton250 |
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#4732 | |
"TRF" Member
Join Date: Aug 2012
Location: Chicago
Posts: 1,976
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Quote:
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#4733 | |
"TRF" Member
Join Date: Mar 2020
Location: World
Posts: 66
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Quote:
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#4734 | |
"TRF" Member
Join Date: Jun 2017
Real Name: Sal
Location: London
Posts: 2,496
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Quote:
There is though a legitimate debate to be had about the risks and benefits of any given level of intervention. I say that as someone who agrees with the effective lockdown measures being implemented here and which are likely to be in place for several months.
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“Never argue with idiots. They will drag you down to their level and beat you with experience." - Mark Twain |
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#4735 | |
"TRF" Member
Join Date: May 2013
Location: Vain
Posts: 5,659
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Quote:
We are actually lucky they are that accurate. Countless variables mother nature throws our way that only supercomputers can deal with. Same with this virus. Lots of variables that will affect the projections. Of course they will change over time. |
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#4736 | |
"TRF" Member
Join Date: May 2013
Location: Vain
Posts: 5,659
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Quote:
Look at our current situation in the US. Some states have a stay at home directive, others do not, with travel allowed freely between all regions. What good is that? |
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#4737 |
"TRF" Member
Join Date: Jul 2015
Location: Arlington, TX
Posts: 394
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I heard a professor say, one time, “You use models; you don’t believe them”.
100-200k dead in the US. That’s a much better number than 1-2 million (doing nothing and hospitals overwhelmed nationally). It’s much worse than a bad flu. If it comes in at 80k or 220k, will you feel like they screwed it up? I won’t. |
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#4738 |
"TRF" Member
Join Date: Mar 2020
Location: World
Posts: 66
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Agree with you 100%. The expected unemployment for this scenario is going to have an impact that is far longer lasting than the short amount of time folks have to shelter in place. Just in my country, we are expecting two quarters worth of impact from an economic perspective. The longer the virus stays, the longer the duration of the after effects and the longer it will take to jump start the economy. We are past the point of people "just going back to work" which is a finer point you failed to call out in your simplistic response although implode may well describe it at a high level.
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#4739 |
"TRF" Member
Join Date: Mar 2018
Real Name: Larry
Location: Finger Lakes
Posts: 6,017
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Even if we are inclined to ease restrictions, it seems to me they cannot be eased any more than our hospitals' capacities to care for the population, or risk collapse. Will that amount of folks going back to work really help matters, given the risks involved in these sort of calculations?
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#4740 |
2023 Pledge Member
Join Date: Feb 2013
Location: swmnpoolsmovie*
Posts: 8,498
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I would appreciate if the death toll would be less sensationalized and more "professional" in it's depiction of the health of the people before their contracting the virus.
I realize this is difficult but it would make for a far better analysis of when and how we lift restrictions on movements. Now it's just xx died and we have no idea the ages, general previous health and complications they have pre-existing. We do know that smoking in China and Italy is a real thing. So did a large number of deaths have compromised lung issues previously. An actor died a couple of days ago and there was no indication he was already sick when he contracted the virus but someone on a messaged board that knew him indicated he was. Obviously anecdotal but it would be nice to have more in depth reporting on this stuff. Then we have the Tom Hanks stuff where he and his wife pretty much sailed through the virus much like getting the flu. Bottom line is how previously compromised are the patients that are dying when they show up in hospitals. Stay safe everyone. |
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