Professor John Hearn
@jbhearn
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Economist, author and university Professor on programmes in economics, banking and finance. YOUTUBE Lectures at johnhearn (free to subscribe)
Essex/City of London
Joined October 2009
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Interested in learning from introductory university modules in economics or banking and finance. 20 introductory lectures 10 advanced + chats and controversial articles.
All free at
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Please correct me if I am wrong.
A vaccine passport means that if you have been double jabbed and have Covid you can go to events, but if you have not been double jabbed and don’t have Covid you cannot go to events.
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Do you remember how false claims about a fuel crisis created a fuel crisis?
As I passed long queues at vaccination centres yesterday it made me think.
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BBC just reported 616 died of the virus yesterday.
This is not correct. 616 people died yesterday after having a positive Covid test in the last 28 days.
We really do want to know how many died of the virus yesterday.
Anyone know?
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BBC says a further 205 people have died from Covid
This is incorrect as 205 people have died within 28 days of having a positive Covid test.
We need to be told how many died from Covid & then if it was 205 or if it was 0 then we could more clearly agree or disagree with policy
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BBC definitely working under direction from the government.
This is the first time in 2 years that the 6.00pm news announced deaths within 28 days of a positive test then added …..
NOT ALL THESE DEATHS WILL HAVE BEEN FROM COVID.
Shocking that we have been misled for 2 yrs.
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Exceptionally high Covid infections suggest that our policy to suppress, lockdown, vaccinate, stop transmission were wrong. We have done enormous damage to economies around the world & the only winners have been the pharma companies. Let’s hope we have learnt an expensive lesson!
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BBC is still referring to Covid deaths (207) within 28 days of a positive test.
It is about time this number is disaggregated to show who died
- of Covid
- of underlying conditions
- after a double jab
- after an unrelated accident
- with no vac’s
We can cope with the truth
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In 1968 the Hong Kong flu had the same profile as Covid if you look at percentages rather than totals. After a year it almost disappeared with no action at all.
A big difference was no social media.
Have we wasted billions & done untold damage to the economy for no good reason?
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Whitty said “unvaccinated young people will still be spreading the virus”
Can anyone explain why this “may” be a problem?
Those who are vulnerable have been given the vaccination option that will save their life. Most others will have mild symptoms and can protect themselves.
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I am not an expert, but given all the information I cannot help but conclude that we should all be trying to catch the common Covid cold as quickly as possible and give up all testing and isolation which is slowing the process of getting rid of Covid.
Please correct me.
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SAGE has warned of a 4th wave next winter.
It now has plenty of time to make sure the economy is protected, the NHS is ready and every vulnerable person is given all the information they need to make up their own mind about how to act.
With that done we can shutdown SAGE.
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Have you noticed that Modern Monetary Theorists seem to be very quiet these days?
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Will the BBC be investigating its misreporting & misrepresentation of coronavirus and explain why it did it?
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Yesterday SAGE & Chris Whitty showed us that almost everyone who has died with Covid is retired.
We now need to know about the underlying conditions.
We then need SAGE to put up their hands & apologise for getting this wrong.
Protect the above & let everyone else live & work.
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At the height of the pandemic there were 1,445 deaths in one day and a number of days consistently above 1,000.
Today there were 65 deaths and this is described as reaching a tipping point.
Is this just scaremongering as we are being readied for more draconian restrictions?
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Most politicians don’t want Brexit as the EU was their gravy train. Most politicians are trying to enforce their will rather than respect the electorate. One way to do this is pretend the problems caused by their mismanagement of the pandemic are Brexit problems when they are not
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House prices rise by 8%.
Another big ticket item hidden from the inflation statistics.
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A no-deal Brexit means cheaper food & wine from around the world, better and cheaper cars and motor cycles, cheaper clothes and electrical appliances, unemployed bureaucrats, politicians and administrators: what is there not to like if the EU force a no-deal upon us?
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Does anyone think that the Met Office has joined forces with MSM in an attempt to frighten us all with its weather warnings about things that seem like normal weather conditions to most of us oldies?
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1. After I have had my coronavirus jab can I ignore all tier and lockdown restrictions?
2. Two weeks after I have had my coronavirus jab can I ignore all tier and lockdown restrictions?
If the answer to both questions is no please can you explain why.
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More than a year ago I said it would be interesting if Sweden comes out of Covid better as they are doing it differently & it looks like…..
Sweden got it right and the U.K./SAGE, US got it wrong.
& New Zealand , Australia and Thailand are getting it wrong now.
@ProfSteveKeen
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I hear JVT say that at present we do not all have the same level of Covid protection so it is only fair that we all continue to suffer lockdown and further damage to the economy.
I find it difficult not to see this as anything other than remarkably unfair and amazingly stupid.
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We seem to have realised that Covid is a highly infectious mild case of the “flu”. After 15 months we are recognising that suppression and lockdown do not work & we need our experts to manage herd immunity not say we need more of the same that only kicks the can down the road
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“Vaccinate pupils, don’t test them” says Professor Andrew Pollard Head of the Oxford Jabs Programme
I would say “don’t vaccinate pupils and don’t test them”.
Time to let this go and return to the days when you stayed at home if you did not feel well.
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Spoke to a person at the gym today whose son is finding difficulty getting a job. In phone interviews he has been asked if he is white and told on one occasion that the firm would like to employ him but they need to fill a diversity quota.
Is this racism in the work place?
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Does the ruling against Boris open the door to a ruling on Theresa May extending the Brexit deadline and whether it was an illegal attempt to stop Brexit?
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Am I correct in thinking that there have been no recorded cases of flu this winter?
Can PCR & lateral flow tests tell the difference betweenCovid & flu?
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Just chatted with a former colleague who attended a talk given by Mervyn King and she said he was very relaxed about a no deal Brexit and saw significant benefits in leaving.I wondered why we not hearing from this well respected former Governor of the B of E on TV or in the press
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As an economist I am concerned about efficient resource allocation
I find this difficult to understand
Each year we give flu vaccinations to the old and vulnerable who are at risk
Covid has exactly the same medical profile yet we are insisting on vaccinating everybody
Why?
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Leaked SAGE committee document states that OMICRON may require a stringent response.
Why leak this as it contradicts all the evidence coming out?
Is it an attempt to push the fear button when there is nothing to fear?
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Inflation is caused by the government & Central Bank.
Price caps on energy and food has no effect on inflation and just distorts resource allocation and discourages an expansion in output of these essential items.
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Eight & a half billion pounds on PPE has been wasted by government and they want us to trust them to spend money wisely on levelling up, growing the economy, greening the economy etc.
One billion is £1,000,000,000
It all seems to be a sick joke !
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Did I hear correctly that SAGE has estimated that after June 21st,when we remove all restrictions, we will return to a third wave as high as previous waves?
Is this because they have assumed vaccinations are ineffective?
It all seems that herd immunity is their only option.
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Mad decision by Sunak to make maths compulsory up to 18.
Let us separate children into artists and scientists.
Scientists will choose maths to help their studies.
Artists need words, ideas and their creativity stirred, not mathematics.
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Now that Covid is much lower than the other main causes of death should the BBC not be announcing statistics from the main causes of death each day?
Why are the BBC still reporting the relatively low Covid death count?
Alternatively let us not have any death counts in the news.
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BBC reporting riots in Zimbabwe, but not across Europe. Any reason why?
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A year ago I said that we will eventually know whether Sweden & Florida or the U.K. & California got it right.
If you peer through the fog created by so-called experts it is becoming clear that the U.K. & California got it wrong.
A pity we are preparing to get it wrong again.
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Unvaccinated children are back at school with no increase in Covid infections.
All vulnerable people have been vaccinated.
Can anyone offer any reason to continue with this farce of Covid restrictions?
3 strange statements from the BBC Covid Doctor
We are nearly there June 21st is not far away (only £bs of damage to go)
It would not be fair to let all those who have had their vaccines to be free ( or unfair not to free them)
We must be wary about Covid in India (why?)
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Should we ever trust the modellers or should we use logic & common sense? It was clear from the start in S Africa that Omicron was relatively mild and I suggested at the time it would be better to let the infection go through the population rather than try to suppress & lockdown
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I shared my concern about a walkout in Parliament which was a refusal to debate question arising from the latest office statistics regarding relative risk of Covid and vaccination boosters. One MP replied & repeated the official narrative.
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Dangerous times. The government has realised that they can spend and print and there is no immediate impact on inflation. The reason for this is that lockdown slows velocity temporarily. Inflation is lagged by one or two years.
Watch for all these spending promises and be worried
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The fact that government has continually over recorded Covid deaths, by conflating dying of Covid & dying for any reason having had a positive Covid test, may be coming back to bite them now
Trying to frighten us with overestimates is now being seen as SAGE/Gov incompetence
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All ten lectures available now covering an introduction to economics.
Economics 101 via
@YouTube
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A further ten lectures have been added to introduce Money, Banking & Finance (johnhearn:YouTube) to undergraduates as well as additional miscellaneous lectures.
All free to subscribe.
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126k have died with Covid, a much smaller proportion died of Covid
If the distribution of deaths had been even across the age range & indiscriminate then lockdown may have been correct
However the vulnerable group is very small & easy to identify & lockdown was wrong
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Omicron was expected to be mild. The evidence coming out is that it is mild.
We therefore need many people to catch it and build immunity.
As before it is a big mistake to try and suppress it.
When it did not work before why are we doing the same again around the world ?
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Again please correct me if I am wrong.
If I am asymptomatic, had a positive Covid test 27 days ago and I fell down the stairs and broke my neck today I would be classed in Government statistics as a Covid death.
This information is very difficult for a rational person to manage
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The Chief Medical Officer has said that we can & will have to learn to live with Covid just like the flu
That should have been our policy before the first lockdown if we had looked at the data, identified who was vulnerable & offered them protection
Oh what damage we have done!
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Sweden is not showing a second wave. I continue to think they got their policies right by keeping the economy going while we got it wrong trying to suppress the virus. As soon as we return to normal it will reappear again and this will go on ad infinitem. No more lockdowns please
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Inflation at 7% (CPI, the lower measure)
The Bank of England caused this inflation
They tell us which prices have gone up the most and hope we will think they have caused inflation rather than just symptoms of excessive money creation
Watch media reinforce the Bank’s deception
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This problem is being described today.
Omicron is like a winter cold it is so mild that it will spread rapidly as many people will not even realise they have it.
From this background is there any logic for imposing any restrictions?
I welcome your explanation.
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The Bank of England has issued the £50 note ready for the forthcoming inflation.
How long before £50 will buy what £5 buys today?
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Rishi says inflation is a global problem.
He is wrong, inflation is a problem across the globe as Central Banks are all printing money and devaluing their currencies.
Each country must accept responsibility for the inflation it is causing by mismanaging its currency.
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If Covid vaccinations reduce the severity of symptoms then there is a very good reason for certain groups to be vaccinated.
If vaccinations do not reduce transmission then there is no good reason to be vaccinated to benefit anyone else other than yourself.
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To ensure success on July 19th we need to:
Repeal Coronavirus Act
Stop all tracking and tracing.
Stop all reporting of the number of infections & deaths.
Ask the BBC to report real news.
Trust the public’s common sense, desire to stay alive & respect & love for each other.
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I suppose you begin to realise how short life is when you look back at two wasted years of Covid mismanagement and look forward to more years of bureaucrats trying to banish those winter viruses that come and go every year.
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You’d think the Bank of England would ask those economists who predicted inflation correctly how they did it rather than bring in another failed Central Banker to tell them they did everything right and no one could have predicted unexpected events
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BBC still fuelling misinformation as their master’s require.
Today the are explaining to all of us that wages are still rising slower than inflation & falling in real terms but describing it as if it is going to fuel more inflation.
WAGE RISES DO NOT FUEL INFLATION
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Last month the government borrowed £18,5000,000,000, the third highest requirement since records began
The fact that the OBR estimated it would be £7.5b higher produces the ridiculous statement that Jeremy Hunt has a £7.5b budget boost
How irresponsible and misleading is that ?
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I continually read about excess deaths currently being recorded around the world and no one investigating or trying to explain why.
Any thoughts?
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BBC reported a record number of Covid infections today and continued on for 5 minutes about the problems. There was only one very brief mention of the fall in deaths to 18.
Is this manipulation of information to push towards more restrictions?
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The £ was $1.09 when the government announced its mini budget. It is now $1.13,
Kwasi & Liz are being castigated because of the effect of the budget on the value of the £.
Politicians need to be realistic not head hunting.
Announce cuts in G spending and we are back on track.
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I feel so ashamed of my generation.
Apologies youngsters for putting your lives on hold for a year & more with no end in sight for something that will hardly affect you & all because a few old fogeys were not prepared to take the necessary precautions to protect themselves.
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We are driven by the data, say government, and the data is really great, but we are not going to change the dates.
Anyone make sense of this?
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With unemployment at its lowest,it is time to release a large proportion of underemployed & pointless public sector bureaucrats, administrators & non-frontline workers in health & education, to be reemployed in the productive sector of the economy
An opportunity not to be missed
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Help please
I have 8.8k followers & my tweets were liked & reposted by 1k & now by less than 10
I have been controversial on Brexit/Pandemic/Vaccinations/B of E/Inflation etc. So either my posts are restricted or I have become boring
Please let me know if you see this by a repost
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Boris say’s inflation is inevitable because of labour shortages.
See how easy it is for the Bank of England to pull the wool over the eyes of the PM and most of the country.
Inflation is inevitable because of the Bank of England’s monetary policy.
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ALL GOVERNMENT SPENDING IS FINANCED BY TAXATION
Government earns no income so:
1. They tax incomes
2. They borrow from incomes
3. They create new money: the inflation tax
1 is the current taxpayer
2 is current & future taxpayers
3 the inflation tax is paid after 12-18months
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6 years now. We are just about to go into our 15th lockdown. It’s a bit like a scene from Mad Max outside my isolation window. We are all employed by the state now on minimum wages. Thank goodness for the ration book as rampant inflation exists.
Good news a vaccine is coming
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BBC have announced the record rise in mild infections but forgot to mention the fall in deaths and they never explain that they were for any reason after a positive test.
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Putting the record straight.
The rise in inflation was not driven by food prices.
The inflation was caused by The B of E’s monetary policy in 2021/2 & it was food prices that rose the most last month.
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You can’t believe it, but apparently Lagarde has announced that if you remove the prices that are going up most from the basket then inflation is very low.
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EU & UK will remain in deadlock because neither will give in. The UK want what is best for the UK economy and the EU do not care about individual economies they want to secure their political power base which makes it essential to offer the UK what they will not accept.
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Just back from the gym where I was watching Al Jazeera. There were 20+ important news stories from around the world & a brief mention of Covid in India.
Listen to the BBC where Covid and India is the main story to the exclusion of anywhere else.
Still trying to frighten us?
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All of these do NOT cause inflation
Pandemic
Brexit
Shortage of drivers
Petrol prices
Food shortages
Building supplies
There is only one cause of inflation which is the BofE mismanaging monetary demand
QE & money printing last year is fuelling inflation this year
THE END.
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“How can we reduce the economic & social damage caused by Covid” was a question on social media today.
Stop track & trace, stop reporting virus statistics, remove all restrictions, repeal the Coronavirus Act.
Expand the NHS & make it fit for purpose by removing bureaucracy
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The Bank’s Governor says we need to get use to being poorer.
This is not correct. Inflation indiscriminately makes some people better off and others worse off.
A pity Andrew does not add an apology or admit the Bank caused the inflation
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In no particular order congratulations to
Yardley Yeadon,
Reiner Fuellmich,
Martin Kulldorff,
Sunetra Gupta,
Jay Bhattacharya,
Ivor Cummins,
Vernon Coleman,
Tim Price,
Paul Rodriguez,
Nick Hudson,
James Delingpole
for opening up the debate on the efficacy of lockdowns
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@iskandrah
@EmoryUniversity
Also as a Professor of Economics Caroline I applaud your support for your students and I am very sorry that the police feel that they can be that heavy-handed in response to a sensible enquiry.
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Can anyone see a way out or are we doomed?
Each day there’s another political promise to spend more of our income. Soon the spending on government debt servicing & repayment will be the single biggest spend.
Where is the politician who will stand up & tell the truth?
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One for the experts.
Apart from underlying conditions are there any “good” reasons why anyone under the age of 50 should be offered a vaccination?
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NHS are saying that their workers have a responsibility to get vaccinated.
The evidence seems to be that vaccinations reduce symptoms and do not stop you catching or transmitting Covid.
If correct this means that no one has a responsibility to anyone else except themselves.
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I agree with Stephen Glover that “the bumbling & inept Governor of the Bank” should resign. The same should also apply to the bumbling and inept PM & Chancellor of the Exchequer
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SAGE predicted a Covid surge when unvaccinated children went to school.
The FACT is that this was wrong so why are we imposing more restrictions on vaccinated adults meeting indoors for the next two months?
Are we driven by the data?
My flabber could not be more ghasted !
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The BBC seem to have stopped reporting U.K. coronavirus as it would highlight how few problems there are.
So why are we waiting another 68 days before we get back to normal
The damage done to the economy each day x 68 shows stupendous incompetence on the part of government
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I must congratulate my wife. She has continually supported the Daily Mail for the quality of its investigative reporting & columnists.
Today is worth a read dispelling Covid myths, identifying public sector waste & exposing Magic Money Trees.
Time to give up the BBC & read the DM
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Interesting that Andrew Bridgen MP, who highlighted concerns about mRNA vaccines, has been suspended from The House of Commons for financial irregularities in his declared accounts.
It does make one wonder about who is pulling the strings.
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As each and every country in the EU can veto a deal it is quite clear there will never be a deal. We just need to stand up and say that these are our free trade terms that we expect you to reciprocate and if you cannot then there will be equal and opposite restrictions.
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Imposing more restrictions on the U.K. economy now will create more & sustained inflation in 2023, yes 2023 !
Not easy to understand until you realise that the current inflation was caused early in 2020.
Trust me I am a monetarist economist
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It does seem that the BBC has been asked to find bad news Covid stories from around the world and not report all the good news in the U.K. as that will make it more difficult to keep everyone under restrictions until June 21st
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I worry that we are creating a world where we produce less goods and services and create more bureaucracy to distribute lees.
Can you see the logical outcome?
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For 2 years I have not understood why all the media outlets say the same thing irrespective of whether it is right or wrong.
I then came across the Trusted News Initiative (TNI) which sets the rules & I now see how you can turn a free argumentative media into a State Media
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The inflation culprits
Federal Reserve
European Central Bank
Bank of England
Inflation takes 18 months to manifest itself
Ask them questions don’t let them hide behind current events
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How to solve the problem of queuing at petrol stations.
Do NOT have a maximum spend of £30.
Have a minimum spend of £70 no matter how much petrol you put in your car.
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@SpeechUnion
Over lunch 2 weeks ago a former student of mine who has had the ear of Bill Clinton & Tony Blair said:
“We are now in a situation where 1% of the population are trying to determine what 99% can think, say and do”
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Another day of misinformation regarding inflation.
It has fallen to 2% as the result of slow monetary growth last year & was easy to predict.
It is nothing to do with current government policy, falling costs, holding wages down, raising interest rates, lower import prices.
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Inflation down to 6.8%. As I explained last year it is likely to reach 3% by the end of this year. That was long before the B of E even thought inflation would fall.
Trust the monetarists not the Bank or government statisticians.
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The government continually announces it is going to spend more money on this and more money on that, but never tells us where this money is coming from.
Does anyone know?
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