Graham Neary Profile picture
Aug 24, 2020 11 tweets 5 min read Read on X
Time for another quick look at Irish mortality. This time, I'm going all the way back to 1989.

Do you remember the 1990s? Remember Oasis, Green Day and Blink-182?

Do you remember being afraid of death back then?

Thread.
I need to use estimates and assumptions, but I'll be upfront about them. Let me know what errors I've made. The picture for 2020 is still emerging and uncertain.

Sources - CSO (provisional from 2017), GRO (provisional for 2020), HIQA estimates for April-May 2020.

Let's begin!
Below are GRO death registrations as of end-July 2020.

Comparing the end-July and end-June GRO tables, I think total deaths from Jan to May 2020 were probably around 14,400.

HIQA's April-May estimates are a little higher than mine (a different data source, and also uncertain). ImageImage
Let's naively annualise my January to May total without making any seasonal adjustment.

This naive estimate lets us compare 2020 mortality versus all years to 1989.

Conclusion: 2020 is more dangerous than the 2010s, about the same as 2004-2005.

Less dangerous than the 1990s. ImageImage
Now let's do crude seasonal adjustment.

January to May (GRO) are on average c. 45% of annual CSO totals (cold weather, flu).

Applying an average seasonal effect gives a full-year 2020 estimate of 32,186 deaths.

Hopefully an over-estimate (if Jan to May are >45% of 2020 total). Image
Now let's draw those charts again.

Result:

At this early stage and using highly provisional data, it looks like 2020 is shaping up to be the most dangerous year since... 2016.

If true, does it matter? How many people realise that overall mortality this year is so normal? ImageImage
Now for a long-term perspective - let's compare 2020 vs. the average of prior decades.

Results:

The 2010s were, on average, just 2% safer than the 2020 estimate.

The 2000s were 9% more dangerous.

The 1990s were a massive 36% more dangerous.

Despite Covid-19 in 2020. Amazing! Image
Many people will take this as proof that lockdown, social distancing and masks have been very effective.

If there was no national catastrophe, it must be because we prevented it.

Why would we have been so afraid, if the threat wasn't real? We are safe because of actions taken.
My question is: were you afraid in the 1990s?

Suppose we had simply returned to the 1990s, instead of having lockdown/Covid-19 (1,072 excess deaths over 97 days).

How many excess deaths would there be, in 2020, at the 1990s mortality rate?

You sure you want to know?

12,102. ImageImage
In other words, the 1990s saw more than TEN TIMES as many extra deaths, year in and year out, as seen during lockdown/Covid-19.

If 100 days of lockdown/peak Covid-19 were replaced by 100 days in the 90s, it would have been three times more dangerous than what actually happened. Image
Conclusions:

2020 mortality is likely to be within the range of the 2010s, e.g. lower than 2016.

Progress since the 1990s/2000s in reducing mortality has been maintained.

If it didn't make sense to live in fear in the 1990s, it doesn't make much sense to live in fear in 2020.

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More from @GrahamNeary

Feb 22, 2023
I've been learning from the personal finance experts at @ynab @RamseyShow @moneyguyshow in recent months.

These are the most important things I've learned, and which I apply in my day-to-day routine.

If everyone did these things, their lifestyles would be transformed:
1) assign every dollar (or pound, or euro) a specific job. Like a person, if money is left idle, it will get up to no good.

Do this every month with a written budget, preferably using an app that links to your bank accounts so that your transactions automatically show up there.
2) plan for your major expenses such as cars, holidays, and household improvements.

Putting cash aside for them every single month means not having to go into debt for them later (or liquidating your long-term investments, which is almost as bad).
Read 8 tweets
Jan 30, 2023
To my Irish followers:

FIVE THINGS I WOULD CHANGE ABOUT THE TAXATION OF INVESTMENTS IN IRELAND

Internationally, Ireland is thought of a business-friendly, low-tax environment.

This is true for businesses and funds who choose to operate or domicile themselves here.
However, it is certainly not true for individual investors living in Ireland, who face a tax code that is in bad need of reform.

Here are five things I would change immediately.
1. Taxation of ETFs and other funds

Ireland is known as a great country in which to domicile funds.

But ironically, the government applies a special punitive tax rate of 41% ("exit tax") to Irish people who buy funds.

This tax is applied regardless of your income tax band.
Read 22 tweets
Oct 7, 2022
The incoming auto-enrolment system in Ireland sounds horrible:

- a quasi-mandatory system, reducing take-home pay even more for employees.
- even higher costs for employers.
- a huge new govt subsidy for pensions (how can they afford to do this but not to cut income tax?)

1/5
- govt subsidies are applied equally regardless of tax bracket, so a pension becomes another form of income redistribution.
- money gets locked up in the system for 40+ years.
- new central processing authority to administer it, creating more unnecessary civil servant jobs.

2/5
- the existing PRSI deduction was already supposed to provide a decent pension. But there will be no change to PRSI.
- there will only be FOUR investment funds to choose from, for the entire country! An amazing lack of choice. Maybe let people invest their own money?

3/5
Read 5 tweets
Sep 12, 2022
Ireland's "Commission on Taxation and Welfare" has triggered outrage with alleged proposals to reduce inheritance tax relief, raise diesel duty, etc.

As with NPHET, the likely purpose of COTW is to float bad ideas, so that government can see which ones are viable.

A short🧵.
Media reports have disclosed the alleged proposals from COTW, but have said almost nothing about who or what COTW is. The ordinary reader is left wondering who to blame for all of the bad ideas.

This is where I come in with a relevant link and a summary.

gov.ie/en/publication…
Out of 13 members, there is only one entrepreneur.

There is one person from the lobby group representing large businesses.

There are two tax advisors (sadly, it is not in the interests of those who provide tax advice for taxes to be simplified).

And the other nine members?
Read 5 tweets
Jun 8, 2022
Hotel prices in Dublin are causing widespread shock and anger.

So let's take a look at some of the Dublin hotels that have been leased by the State and made unavailable for private bookings.

Here's a list.

1. Citywest: 756 rooms, 2,000 beds.
2. Travelodge Townsend Street: 393 beds.

The second-biggest hotel in the city centre, it is also the newest hotel and cost an estimated €100 million to build. Now leased by the State:
3. Holiday Inn Express Dublin Airport, 214 beds.

4. Crowne Plaza Dublin Airport, 209 beds.

5. Travelodge Dublin Airport, 125 beds.

6. Airport Manor Hotel, 80 beds.

600 airport beds taken off the market. And people are shocked that prices at airport hotels have increased!
Read 6 tweets
Jun 2, 2022
🚨 Latest CSO data 🚨

We can now calculate Ireland's death rates for every age group and for every year up to and including 2021, with the help of freshly released CSO figures and the CSO's population estimates.

I've done this. Some interesting results:

👇👇👇
Firstly, Covid-19 coincided with Ireland's 85+ population achieving their lowest ever death rates in each of the past two years.

An amazing result in the circumstances: Image
The results are only slightly less positive for the grey-haired 65-84 cohort.

Three out of the four categories here had a small increase in 2021 over the prior year.

But 2021 was still safer for every category in this cohort compared to 2018: Image
Read 7 tweets

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