There was a flurry in American money markets this week when, briefly, 2-year yields exceeded 10-year yields. This “inverted yield curve” frequently signals recession. Watch this space.
Apparently, another surge in the number of people testing positive for Covid is already upon us. Will the political decision makers realise that this is irrefutable evidence that pretty much everything that they have insisted we do to “flatten the curve” these past 2 years has not worked? At least not in the way we were assured it would. It is therefore alarming to watch them now adopt laws that will equip them with the very powers we are at last discarding by the long overdue termination of the State of Disaster. There is scant evidence that the vindictive and hugely disruptive and economy destroying intrusive interventions such as bans on the sale of booze and tobacco, lockdowns, ad hoc quarantine programs, masks, body temperature checks and the sanitisation of facilities and surfaces, has had any effect in controlling who might next be unfortunate enough to suffer the sometimes severe and alarming symptoms of the “novel respiratory infection”. And why can’t the world develop and agree upon a suitable palliative treatment? One really is tempted to give the so-called conspiracy theories some credence.
The most contentious intervention has been the vaccination program where the strategy of simply prescribing more boosters every few months is undeniable evidence that the vaccine has not worked as designed and promised. Even President Biden has just received a 4th jab. He reported afterwards that he felt great -- a side effect not widely recorded! Reportedly many South Africans are refusing to play this game ad infinitum. So much so that the nation has just had to destroy many unused and expired doses of the disappointing elixir. Yet another case of wasted money in a two-year story of value destruction we can ill afford. The reported response to this reluctance to believe and obey the official insistence that the vaccines are safe and effective is to create a law which will allow the authorities to use force and detain unbelievers. Wow! And we can’t put the mega crooks in jail?
The headline is on this occasion probably correct. It says that stakeholders are concerned that South Africa could see an exodus of doctors and other key medical personnel ahead of the planned introduction of the National Health Insurance (NHI) scheme. This emigration is presumably a response to the reported NHI plan to take on the task of deciding who should practice what, and where! The government is surely aware that many doctors and nurses are real people who have chosen where they want to live! Consider the Durban specialist who, before a harrowing day of doctoring, chooses to swim a mile in the sea. This won’t happen when the NHI sends him to Joburg or Joubertina, so he might just move to Jacksonville!
Our postal service is undoubtably tottering and in the absence of everyone having an address to which snail mail can be delivered (BTW what happened to the Census?) the government is going to provide everyone with an email address. It would be fascinating to get a glimpse of the notes that were jotted down when this plan was being hatched. Does the name Google appear anywhere? Did anyone at that meeting mention that mobile phone penetration in our country is already astonishingly high and provided the user has a suitable cell phone and can afford a data link to that phone, the Gmail address is already free. So obviously this gesture is just about improving and extending affordable broad band coverage. Yay. Oh yes and handing out smart phones to all.
I’m not a biologist but Lieutenant-General Sehlahle Fannie Masemola, South Africa’s new national police commissioner, is not a woman. Just a heads up for loyal readers who depend on Tidemarks for honest facts. He is a great mate of the prat in the hat, police minister Bheki Cele so it may be premature to welcome his appointment at this stage.
It’s the time of year to complain about what an ancient university regards as the colour “light blue”. It’s Boat Race weekend and notwithstanding the gripe above, may Cambridge win.
James Greener
April Fool’s Day 2022
