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  • so Britain is now on course to suffer the second deepest recession in Europe.

  • The GDP is gonna shrink by over 10% this year.

  • We're expecting unemployment to be 7.3% next year.

  • And yet the government still just announced that it's gonna pump £150 billion back into the economy.

  • And look, I spoke with Professor David Miles yesterday on London Rio.

  • He is a professor at Imperial College, former Bank of England Monetary Policy Committee, chief economist for Morgan Stanley and Merrill Lynch.

  • And he said, Brian.

  • He said the last lock down lasted too long, he said, from a cost benefit ratio.

  • From an economics point of view, it was the wrong decision to make.

  • And he said, This one is also wrong.

  • And he said, If this goes any longer than 30 days, we're gonna have to open up the economy because the cost benefit is just not there.

  • And it's a conversation that no one wants tohave.

  • But if you look at the loss of life, if you try to quantify that from an economic sense and then look what's happening in the bigger picture, the two just don't make sense when we've got this economy locked down right now, £1.8 billion we're losing every single day.

  • And loss of life is in the hundreds right now.

  • And while every life life is tragic when we lose it, that is also a part of life.

  • And so again, this all comes down to this argument of control versus elimination.

  • The government is selling you this narrative that we can eliminate the virus and we can't.

  • We have to find a way toe live with it.

  • We have to find a way to get people who are healthy under 65 who could get back out there and continue, uh, to build the economy so we can have something strong to take care of those that are vulnerable and also protect our elderly.

  • But we've got to start making rational decisions.

  • And speaking with the Professor yesterday it was really clear to me and clear to him that this just does not make sense and it's literally untenable, you know, we're literally going thio, eat ourselves up from the inside if we continue these lock down measures and it makes no economic sense, whatever whatsoever, I asked him How come we don't have an economist on the sage committee of Scientific Advisers?

  • It's just a Zim Porton as an epidemiologist and he said, Brian, I don't know.

  • I think we should have someone on that board.

  • So it was a powerful idea.

  • Andi was something we really need to talk about here, because unless we get London back toe work, unless we get this country back toe work well, literally have nothing left to even run the NHS, even protect our people.

  • Every single day that we are locked down, it's going to take 2 to 3 weeks to recover.

  • That's according Toa Lord Rose, former chairman of Marks and Spencer, so every single day is crucial.

  • If we're locked down for one month, two months, three months, do the math.

  • That's years and years of recovery that we can't afford.

  • So leave your comments below.

  • Let me know if you think we should get back to work.

  • If we should protect those vulnerable but start making a proportionate response to the virus again, I'm frustrated.

  • Total lack of leadership, lack of science based decision making.

so Britain is now on course to suffer the second deepest recession in Europe.

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    林宜悉 posted on 2020/11/06
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