BC ECONOMY

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Lewis Goodall
@lewis_goodall 5 years, 6 months ago 801 views

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Hancock: "It's your actions now which can make a difference."

Plays down prospect of immediate introduction of new restrictions.

Few doubt the public must play its part. But legitimate questions about whether the govt has made/is making public's task harder in two key respects:

1) For some there's still a major economic disincentive apropos self isolation. Sick pay still poor. Savings for many exhausted.

Imminent prospect of Universal Credit cut would make this worse. Some people have fallen through the gaps of government support throughout. Though government support for (effectively) laid off people, a full economic bargain to universally support self isolation still...

...does not exist. Rishi Sunak just made a statement to the House which offered nothing new on any of these fronts.

And 2) The job for individuals is now made harder as a result of prevalence as a result of the delay in full lockdown in most of the country between the...

...point ministers were informed that the new variant had greater transmissibility (December 18th) and full lockdown (early January). We can't interrogate the micro decisions of the public alone, we must look at the macro decisions of ministers too.

And many argue that the pattern we've seen on three occasions is one of delay in introducing measures til nearly or at the last possible moment, which adds to prevalence, means test and trace is yielded useless and makes the task of the public all the more difficult.

The focus on compliance then, though important, is a bit of a futile (and potentially counterproductive) one when it's divorced from the overall context (economic and virological) that individuals are making those decisions in.

In other words, though Matt Hancock is right when he says 'It's your actions now which can make a difference', it applies just as much (if not more) to ministers in the decisions they're making now and in the past too.

Hancock hints to this idea, saying "the new variant makes everything so much harder"

This is presumably why SAGE recommended national lockdown on 22nd December- but that wasn't enacted by ministers (in England) until last week.

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Lewis Goodall
@lewis_goodall

Trump’s doctor: “This morning, the President is doing very well.”

Conley: “the team and I are extremely pleased with how the President is doing.” Says that Trump’s symptoms are now improving.

Second doctor says that President’s kidney function, heart function are both normal. Says that he’s not on oxygen and in “exceptionally good spirits.” Says that Trump said “it feels I could walk out of this today.” Says he’s walking around the medical unit.

Doctor is repeatedly asked about whether Trump is on oxygen. Says he’s not on oxygen “now” or “today”. Sidesteps question about whether he’s received it up to now.

Doctor says “since Friday morning” Trump hasn’t had a fever

Lewis Goodall
@lewis_goodall

Overheard in a Newcastle cafe, two very despondent students, clearly not long arrived in the city: “I might as well just go home. What is the point in being here? I told my Mum last night, I just feel so lonely. Wish I’d taken a gap year.” The other nodded, in sad agreement.

More cafe conversations-a woman who has recently gone back to work and is now facing down the barrel of imminent unemployment again with the hospitality shutdown which is prob coming here: “I was so buzzing to get back to work. I can’t believe it’s back. Don’t know what I’ll do.”

A local bar owner who has popped in for a coffee: “up to now we’ve just about been making enough money on Saturday to survive and make it through the rest of the week. Depends what the government does. But we’re on the edge.”

And the cafe owner, been here 19 years: “things had been a bit better but this week trade has fallen off a cliff. I came in yesterday and the day before and I just closed because there was no point. Whatever they announce I’m praying it isn’t for long or they extend furlough.”

This cafe btw is a cracker, when I lived in Newcastle came all the time. If you’re ever in the area (restrictions permitting) @QuayIngredient is where you need to go.

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Lewis Goodall
@lewis_goodall

More study aids and generous grade boundaries for 2021's exams will be welcomed by many teachers and students. But doesn't address a fundamental problem of the next exam season: equity. Because there's great variation in how different schools have been affected by self-isolation.

Let's take the most recent attendance stats which I still don't think have really registered.

Most recent data- attendance rate across England of 83%

In secondary schools it's 78% (!)

So more than 1 in 5 secondary pupils are off school, largely for Covid related reasons.

But that’s just an average. Some schools’ attendance are at levels where they can’t really function, or certainly provide the quality of education they normally do.

Teachers’ are split between trying to run online lessons and those in schools.

Whole year groups are off.

Some students are in isolation, return to school and within days are in isolation again.

As I’ve reported before, IT provision is still patchy. Lots of reports of kids not doing work at home either because they get of the swing of it or they don’t have the IT resources.

And that’s before we get on to staff isolation, which is also proving a nightmare in many places.

In other words, you have to have everything go right for your education not to be impacted by Covid right now. And that’s affecting some places more than others.

Lewis Goodall
@lewis_goodall

Weird feeling. After 10.5 years and roughly £21,000 of debt- I finally paid off the last instalment of my student loan today.

Next month, for the first time- I’ll receive my full post tax salary, for the first time since I graduated.

Sharing as an example of how the system works in practice. In truth I only seriously started paying off the capital in the last few years, when I started to earn a good salary, paying roughly £400 a month off. I suspect many will never significantly eat into the capital.

That’s especially the case for those those under the new regime, who have over £50k of debt. I was lucky in a) lower fees (3k not 9k) and maintenance grant (not loan) still existed.

Indeed IFS forecasts that 83% of students from PST 2012 reforms won’t fully pay back their loan.

Of course those who don’t pay off their fees, the cost will eventually have to be absorbed by the Treasury. Having 17% pay back all and the rest some will still be cheaper for HMT than no loans at all. But we should recognise the a) odd conceit that we have a system of loans...

...which the vast maj will never pay back and that instead b) that graduates are paying in effect a topped up rate of income tax for many, many years.

Lewis Goodall
@lewis_goodall

Charles Walker, Vice Chair of the 1922 Tory backbench committee in the Commons tells TWTW that he thinks the government knew it intended to “cancel” Christmas on Wednesday or Thursday but waited for Parliament to rise to do it. Says many of his colleagues find this “egregious.”

When put to Walker that Matt Hancock said this morning that wasn’t the case, it was the briefing on Friday which prompted the decision, Walker says: “Hmm yeah...well I’d have to disagree with the SoS on that.” So he’s either saying Hancock isn’t being truthful or is misinformed.

Walker: “Surely at some stage a senior government minister has say I’ve offered my resignation to the Prime Minister and the Prime Minister has to say- very early I’ve had to accept this.”

Reminder- Charles Walker is Vice Chair of the Tory backbench committee.

Walker heavily implies it’s Matt Hancock he wants to see resign: “I’m not asking for the government to collapse. I’m asking for a Secretary of State to take some responsibility.”

The Charles Walker interview is extraordinary in what he is inferring. A senior Conservative MP is essentially accusing his govt and ministers of deceit about what they knew about the new strain and when and by implication the timing of the new lockdown.

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Emnet Negash
@emnet_negash

What happens with the limited volumes of food aid that are sent to Tigray?

Testimonies on aid to the war-affected Tigray &

Shire: 7 kg of wheat were required to sign for 15 kg. If they refused to sign for 15 kg they were denied the 7 kg

IDPs in Shire: Currently around 80 000 displaced Tigrayans in Shire, spread across three different schools

Addi Da’iro: “Residents were denied food aid after the inhabitants refused to appoint PP officials as administrators. The residents demanded the evacuation of Eritrean soldiers instead.”

Aksum: "I heard there have been food aid of 15 kg of grain per family, and only once. Neither I, nor my relatives have received aid. No idea about how many families received that 15 kg of food aid. How many days would that last? Who takes the rest? Of course, the Eritreans?”

Adwa: “Last time, they made us sign 15 kg while giving only 7 kg”.

TraderLion
@TraderLion_

Why do we track institutional footprints? 🐘 (Thread)

Large institutions like mutual funds, hedge funds, banks, insurance companies, trusts, etc. amount for over 75% of all volume. These institutions move the market, not you and I.

It makes sense that if these guys are moving the markets, we would ideally want to buy the same stocks they are buying, but before they buy them? Right?

So, let’s get a clear understanding of how and why this is so important and what this might look like behind the scenes.

For starters, let’s discuss what we mean by a large institution. In this case, we are referring to the many funds, pensions, trusts, etc. that are responsible for managing tens, if not hundreds of billions of dollars.

Hence, they easily attract and can afford to retain the planet’s top talent, not to mention, their research budgets are enormous.

They have access to information and resources that the retail crowd simply does not, and if they did, it would likely be extremely unaffordable.

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Rohan Grey
@rohangrey

🚨🚨🚨 ANNOUNCEMENT 🚨🚨🚨

@AyannaPressley Unveils Historic Federal Job Guarantee

The resolution draws on historical Civil Rights leaders like Coretta Scott King & economists like Sadie Alexander, & is supported by a wide coalition including @policylink, @NatlJobsForAll, @thepublicmoney, @SEIU, @sunrisemvmt, @CPDAction, @ACREcampaigns, @ourmoneyus, @NelpNews

“It’s time to establish a legal right to a job for all people in America. For years, we have legislated hate, harm & injustice ... It’s long past time to pursue bold, intentional policies that affirm equity & recognize the dignity & humanity of all people.”

"A federal job guarantee is an important investment in the American people, our communities, & an equitable economy that works for all. It affirms the right to meaningful, dignified work & a living wage."

"I’m proud to build upon & honor the legacy & work of generations of Black women Civil Rights leaders by introducing this historic resolution.”

$Timoth\xe9e Parrique$

Timothée Parrique
@timparrique

What a year: 203 essays about degrowth in English since the beginning of March. Here is a selection of some of my favourites. Thank you @fem_degrowth, @beth_stratford, @thedownshifters, @corbinkbarthold, @degrowth_info for these brilliant texts.

THREAD/

https://t.co/1lFaJM52RX

https://t.co/i5HOfZ19r7

https://t.co/DuPSrrqnzz

https://t.co/0ANveWdvFO

Jawwad Farid
@rebootdude

1/ Unit economic for founders thread.

Despite being a founder and a student of the subject, I missed out on a key point growing up.

Length of relationship with your customers, order frequency, product usage and utility matter.

They didn't teach me this in business school.

2/ Structured right, products used daily vs weekly vs monthly vs yearly lead to different profitability and scalability paths.

Quiz. Which business would you pick?

a) Enterprise software - US$ 250k one time license
b) Enterprise software - US$ 30k/month recurring subscription

3/ Sound's obvious? Which one did you pick?

Twice in my life I picked A. They were both great businesses, but they didn't compare to B. Especially in the long run.

Looking back, with hindsight, I know I should have picked B.

Why?

4/ Bringing in customers is hard.

When those customers leave after a few orders, your investment in that relationship is written off.

But it is not just about the relationship or investment. It is also about scale.

What are the easiest ways to scale a business?

5/ Think about it?

a) Get more customers - acquire
b) Get existing customers to order again - retain
c) Increase order size - up sell
d) Increase order frequency - cross sell / new use case
e) Get existing customers to get you new customers - referral

(b) to (e) are free.

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George Mack
@george__mack

THREAD: 15 of the most useful razors and rules I've found.

Rules of thumb that simplify decisions.

Bezos' Razors:

• If unsure what action to take, let your 80-year-old self make it.

• If unsure who to work with, pick the person that has the best chances of breaking you out of a 3rd world prison.

Skinner's Law:

• If procrastinating on an item, you only have 2 options:

1. Make the pain of not doing it greater than the pain of doing it.

2. Make the pleasure of doing it greater than the pleasure of not doing it.

Luck Razor:

• If stuck with 2 equal options, pick the one that feels like it will produce the most luck later down the line.

I used this razor to go for drinks with a stranger rather than watch Netflix.

In hindsight, it was the highest ROI decision I've ever made.

Bragging Razor:

• If someone brags about their success or happiness, assume it’s half what they claim.

• If someone downplays their success or happiness, assume it’s double what they claim.

The map is not the terrain.

Vibhu Vashisth
@VIBHU_Tweet

Did you know?
Ahilyabai Holkar was one of India's
greatest women rulers of all time.

Ahilyabai was Born on May 31,1725 in the village of Chondi,Jamkhed distt,Maharashtra to a man named Mankoji Shinde,who was the Patil(Chief) of a village and a member of proud Dhangar Community.

Despite the fact that girls' education was a farther dream in those days, Ahilyabai was homeschooled by her father.
Ahilya didn't belong to any royal family but in a twist of fate she is still remembered as one of the most revered Queen in the history.

While they were living their humdrum lives, one day Malhar Rao Holkar, commander of the Peshwa Bajirao & Lord of the Malwa stopped in Chondi on his way to Pune, where he couldn't help but notice a young 8yrs old Ahilyabai in the temple service feeding the poor & hungry.

He was so impressed by the sheer innocence&beauty with simplicity character of Ahilyabai dat he asked her hand in marriage for his son Khanderao Holkar.Just like that she got married to Khanderao in 1733 at a tender age of 8&became a bride of esteemed Maratha community of Holkars

But destiny had something else in store for her as her husband died in the Battle of Kumbher in 1754 leaving her widow at 29.Distressed Ahilyabai was to commit Sati when her father-in-law Malhar Rao refused to let it happen.

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Emma Hilton
@FondOfBeetles

This is Kuinini ‘Nini’ Manumua, the woman who was ultimately displaced by inclusion of Laurel Hubbard.

She’s 21, and it would have been her first Olympics.

$Anu Satheesh \U0001f1ee\U0001f1f3$

Anu Satheesh 🇮🇳...
@AnuSatheesh5

Nanganallur Anjaneya Temple
#Chennai
#Tamilnadutemples 🚩

Bhaktha Anjaneya temple at Nanganallur in Chennai is one among tallest Anjaneyar Vigraham. Here Anjaneyar blesses with relief to all illness. Vigraham is about 32 feet height made of single stone.
Anjaneyar here is 👇

Sri Vishwaroopa Aadhivyathihara Baktha Anjaneya Swamy.

Sthala Puranam says that, this is the place where Indra Deva hit Hanuman on the cheek by his Vajrastram. Sri Raghavendra Swami and Sri Kanchi Paramacharyar were behind in building this temple. Temple is constructed to

Realize power of Anjaneyar who is seen both in Ramayana and Mahabharatha.
Vadamalai is important offering to Anjaneyar here. It is believed that vigraham contain powers to heal any disease. Shri Ramanavami is celebrated here.

Jai Sri Ram
Jai Hanuman
🙏🕉🙏

Jaya_Upadhyaya
@Jayalko1

ADI SHANKAR AND SRI TOTAKACHARYA

Adi Shankaracharya chose his disciple Totakacharya to be the first head of the Math at Joshimath.
The Narsingh Mandir (Mandir of Sri Narasimha) in Joshimath is one of the 108 Divyadesams and also the home of Badrinath during the winter months.

Totakacharya was earlier a boy named ‘Giri’ and a devout disciple of Adi Shankaracharya. Unlike others, he was not known to be an expert in Shastras but his dedication to his Guru was complete and he used to listen to His discourses with utmost faith and devotion.
@SriRamya21

One morning as Adi Shankara and his disciples were getting ready for the discourse, Giri was delayed. The other disciples urged their Guru to commence the lesson on Bramhsutra Bhashya telling him that Giri would anyway not be able to comprehend its deep meaning.
@RajeAiyer

Adi Shankar responded “नायमात्मा प्रवचनेन लभ्यो न मेधया” – Atman cannot be attained through discourses or mere intellect.
He,then, awakened the supreme knowledge in Giri.
Giri spontaneously composed: श्री शङ्करदेशिकाष्टकम् extolling his Guru’s grace.

Adi Shankaracharya granted sanyasa to Giri and gave him the name Totakacharya.
The story of how Giri became Totakacharya is a great example of the importance of faith and devotion in your Guru and not the mere knowledge of the Shastras.
@DetheEsha