Yesterday was a pretty boring day. I have spent it on reading and chilling. Didn’t even go for a walk. I did some exercises at home towards the end of the day once the little one was in bed.
I have read an article in The Guardian which nicely corresponds with what I wrote yesterday in regard to labour needed to help with British farming.
There’s also a lot to think about while you’re harvesting fruit, it’s not as simple as walking along and collecting everything in your path. When picking apples, you need to consider the size, the colour, whether they’re damaged, how firm they are (different for each variety) – and making sure that you don’t accidentally pick the pollinator tree with a different variety on it, thereby ruining the entire box of fruit. Pick poor-quality fruit, and it won’t count towards your pay.
Also as mentioned before, we are struggling with the supply chains and don’t have all that we want. The government claims more science is needed whether the public should be covering their faces. Well, science and common sense are already there. What we don’t have is enough masks and the government worries there won’t be enough for the NHS staff. Although that’s understandable my concern is that the government is retail buying PPE, meaning the same supply chain will supply the public and the NHS staff. As a sixth economy in the world, we look poorly and it is quite clear that when it comes to trade we don’t really have any preferential purchasing power. Is the Brexit bubble going burst? But I have mentioned science, didn’t I? Here’s the research on face masks published in the current Nature Medicine issue.
We also demonstrated the efficacy of surgical masks to reduce coronavirus detection and viral copies in large respiratory droplets and in aerosols. This has important implications for control of COVID-19, suggesting that surgical face masks could be used by ill people to reduce onward transmission.
I sort of got used to waking up to welcome the new world of coronavirus pandemic now. What keeps me awake though is the financial state of everything afterwards. Not just mine but the whole world. We take so many things for granted it is going to be a huge shock when the dust will settle and we can’t recognise the world we live in anymore. I consider myself economics literate, not an expert, but I have been practising it for long enough to get proficient enough through experience. This also is one of those sectors of science where being solely a theoretician is not going to work. Economics involves so many factors and is being affected by twice as many making it impossible to create a plan that works. We, therefore, work within established principles of economics. Kind of foundations that currently started to crack. The reason I mention this is because I can’t believe that we firefighting this. We literally throwing buckets of water trying to put a nuclear plant fire down after an explosion. I can’t believe we still trying to save the economy like that. In financial trading, this is called ‘catching a falling knife’. This is literally what we do. This is not to blame the UK response. Here, it’s one of the best in the world actually. But the measures put in are as good as pandemic ending in 3 months time. Exactly, no pandemic ever ended in 3 months time!
My today’s thoughts about economics are not accidental. Friend of mine asked me a few questions about trading platforms and the way of buying oil as it’s cheap at the moment and he believes it will be back at $70. That optimism surprised me. Although he is not a trader or an economist he is a pretty switched on bloke, who can think outside the box. So I look it up. I see the future of oil from a different perspective and thanks to him I am seriously considering shortening it. Perhaps gloomy but I don’t think it’s cheap. What’s the worth of something you don’t need? So unless there’s going to be a war I don’t believe the demand is going to sky-rocket. I don’t think it is the end of the oil, although, I would like this to be a trigger strong enough for governments to make a constructive decision to invest in renewable energy and set up a policy that the gain in the fight with the climate change that we so far had because of the pandemic will be reinforced not wasted. I know this is my wishful thinking. Conservatism will be pushing for the economic bounce back and will argue because of the pandemic we had already made progress in the fight with the climate change and this is not the most pressing issue for now. The problem with such approach is, that as a pandemic was on the horizon for long enough to get prepared, so is the climate crisis. We won’t be ready for that crisis either.