All Things COVID-19

Discussion in 'General Open Forum' started by Sotally Tober, Mar 5, 2020.

  1. walleyes

    walleyes Crew Member

    Not to mention the chart is in regards to “percent” of GDP so it’s mute what it’s measured in, trillions or billions.
     
  2. GLG

    GLG Well-Known Member

    Yup my mistake I should have said deficit but it still stands correct.
     
  3. GLG

    GLG Well-Known Member

    Almost correct the chart is a measure of change, expressed as a percent, in deficit to GDP. Pre covid to after covid. Canada had one of the best balance sheets of all the G7 countries that allowed us to support companies and people through this pandemic. We had one of the lowest Debt to GDP ratios of the G20 so we had room to support everyone as we should. We don't want people and companies going bankrupt, that would be bad.

    There are some really good economists in BC and Alberta that take the time to write in the newspapers that explain all this and what to watch out for. One that comes to mind is Trevor Tombe.
    https://twitter.com/trevortombe

    https://financialpost.com/opinion/o...=Social&utm_source=Twitter#Echobox=1602599326

    Look I'm all for being prudent with government finance and spending but we should focus on what's important and recognise when people are spinning nonsense.

    What Nog posted "Canada has the biggest deficit in the G20 & the highest unemployment in the G7. The highest cost for the worst result." was not correct. This came from a politician that frankly should know better unless his objective was to deceive just to crank things up.

    I'm not going to even check if Canada has the highest unemployment of the G7 as that probably has caveates there too.

    One last note:
    Here is where the graph came from.
    https://www.huffingtonpost.ca/entry/budget-deficit-canada_ca_5f89a94fc5b62dbe71c23326
     
    Last edited: Oct 18, 2020
    Dogbreath likes this.
  4. SpringVelocity

    SpringVelocity Well-Known Member

    I wasn't going to post on here. This thread has gone really sideways last few months.

    I just wanted to say if you own a business it's really important to prepare yourself again. My feeling is more pain is coming. Across Canada provinces are starting to go to stage 2 lockdowns.

    Even Sweden has announced they are doing some controlled lockdowns to limit spreading over next few weeks.

    I am watching the news over last few days and it doesn't look good. This is not Canada it is worldwide. Not to scare everyone but don't put that head in sand. Watch your finances and be cautious. Better to be prepared than not.

    I hate this virus. Enough already.
     
    wildmanyeah and lazylump like this.
  5. IronNoggin

    IronNoggin Well-Known Member

    Nonsense. Due to the liberals wild spending habits, we were already headed on a massive downward spiral. Budgets actually don't balance themselves, and this particular party has zero economic sense whatsoever. Remind us just how far your hero young Justin had built up the deficit (and debt) prior to to Covid coming around...

    Canada does currently have the highest unemployment among the G-7. Easily determined.

    Canada has also spent more "discretionary funds" as a ratio of GDP than any in the G-20 through this pandemic.
    And continues to do so today.

    Even the article you quote notes:

    Canada’s government deficit has ballooned by the most of any major country during the COVID-19 pandemic by a wide margin

    Canada’s deficit this year will amount to nearly one-fifth (19.6 per cent) of the country’s economic output, according to an analysis at National Bank Financial. That’s well ahead of the second-place United Kingdom, which is on track for a deficit equal to 14.6 per cent of its economy.

    Still, they noted, if you add household and business debt, Canada as a whole has one of the heaviest debt burdens in the G20, behind only Japan and France.


    Look, I get it. You support the liberals and their massive spending habits. Many are beginning to question that. And many are beginning to recognize just what that burgeoning load will mean for Canadians down the road. I count myself among the latter.

    Sadly,
    Nog
     
    Last edited: Oct 18, 2020
  6. Admin

    Admin Admin Staff Member

    This is getting off track. This thread was for updates on what is happening with the virus and not getting into the politics of it.
     
    Pineapple Express and Dogbreath like this.
  7. Whole in the Water

    Whole in the Water Well-Known Member

    Thanks admin - as this post was turning into a forum for posting endless covid fake news and baseless, paranoid conspiracy theories that do more harm than good and just confuse folks about the real issues of trying to contain the spread of a global pandemic.
     
    BCRingo likes this.
  8. SpringVelocity

    SpringVelocity Well-Known Member

    Agreed
     
  9. ryanb

    ryanb Well-Known Member

    Economic policy of our elected officials as it pertains to COVID is certainly part of the larger picture. Trying to separate the two by saying one is politics (and unimportant)and the other is facts amounts to burying your head in the sand.
     
  10. GLG

    GLG Well-Known Member

    Monday Oct 19 update
    Starts around the 6:24 minute mark

     
  11. Admin

    Admin Admin Staff Member

    This was what we posted back in March. Nothing has changed.

    We have merged a couple of threads into this one so we limit the conversation around the Corona Virus to one area. We also edited the thread title slightly to acknowledge what the content reflects. Any discussion of politics that will derail the main focus of the thread will be deleted immediately as it always ends in an endless debate that solves nothing.
     
  12. wildmanyeah

    wildmanyeah Crew Member

  13. SpringVelocity

    SpringVelocity Well-Known Member

  14. GLG

    GLG Well-Known Member

    Thursday Oct 22 update
    Starts around the 5:11 minute mark

     
  15. GLG

    GLG Well-Known Member

  16. lazylump

    lazylump Active Member

  17. SpringVelocity

    SpringVelocity Well-Known Member

  18. absolon

    absolon Member

    Dig a bit deeper and turns out a lot of those stores were already in trouble either because of overcapacity in their sector, online competition or poor business plans. Covid might have accelerated the demise, but it isn't the exclusive reason in most cases. We've been overdue for a retail shakeout.
     
  19. GLG

    GLG Well-Known Member

    Rochelle P. Walensky, MD, MPH of Harvard Medical School and Massachusetts General Hospital returns to JAMA's COVID-19 Q&A to provide an update on developments in the pandemic. She is a signatory of the recent John Snow Memorandum emphasizing the importance of public health interventions to managing spread of COVID-19. See https://www.johnsnowmemo.com/. Recorded October 22, 2020.

     
  20. GLG

    GLG Well-Known Member

    British Columbia (BC) COVID-19 Situation Report Week 42:
    October 11 – October 17, 2020

    Elevated COVID-19 incidence during second provincial wave

    To the end of week 42, there have been 11,875 COVID-19 cases, 894 hospitalizations, and 253 deaths in BC. Of all COVID-19 associated deaths, 85% were adults 70+ years.

    To date during this current second wave, incidence has peaked in week 37 (18 per 100,000), remaining elevated through weeks 38-41 (avg. 16 per 100,000) and the current report week 42 (15 per 100,000). Increasing trend is most evident in Fraser Health Authority, whereas recent activity levels appear more stable in other regions. In week 42, there were 37 hospitalizations and 3 deaths, lower than week 41 (54 and 6).

    The number of SARS-CoV-2 tests in BC steadily increased from >20,000 in week 33 to >65,000 in weeks 40 and 41, falling just below 60,000 in week 42. Conversely, percent positivity showed general decline from week 33 (2.40%) to week 41 (1.36%), increasing above 2.0% in week 42 (2.13%). Percent positivity varied regionally, being highest in Fraser Health Authority and lowest in Vancouver Island Health Authority.

    Compared to Phase 3a, testing of children surged with the start of the new school year in Phase 3b. In week 42, testing rates decreased in children <15 years old but increased in all other age groups. Percent positivity in week 42 was <2% in children <15 years but >2% in other age groups, being highest in 15-19 and 80+ year olds (>2.5%).

    Adults 20-39 years old comprised fewer of the cases in week 42 (42%) and Phase 3b (42%) than Phase 3a (53%). Adults 40-69 years comprised a slightly greater share in week 42 (35%) and Phase 3b (37%) than Phase 3a (30%).

    Although the number of care facility outbreaks prior to Phase 3a is equal to that from Phase 3a onwards (each 48), the number of associated cases among residents (386 vs. 151) and staff/visitors (231 vs. 163) is lower.

    http://www.bccdc.ca/Health-Info-Sit.../BC_COVID_19_Situation_Report_Oct_23_2020.pdf
     

Share This Page