Ed Conway Profile picture
Jul 12, 2021 10 tweets 4 min read Read on X
Quick Covid data update. Cases heading higher, so too admissions. But the link between them is weaker than in previous waves.
In short, the coming months will be nerve-wracking.
Cases will get v v high. This will feel like a wave in that respect. But in other respects v different
Same data but on a log axis - now you can see that hospital admissions are now growing at almost the same rate as cases.
Roughly doubling every 11 days.
V unsettling. Especially given cases have further to rise. So what next?
Here’s a simple extrapolation of cases and hospitalisations (second chart is same data with log axes).
Extrapolate current growth rates and you’re talking abt 100k cases by late July.
Hospital admissions up to 1000 by 19 July, possibly touching 2000 by end July.
The question is where and when that growth rate runs out of steam. It has to at some point, but no-one really knows where. Was struck by how wide the uncertainty bands in today’s SPI-M models were. No-one knows! But presumably opening up will mean an acceleration in cases
Consider what happened when the Netherlands opened up nightclubs late last month. After that there was a MASSIVE increase in cases, to the extent that it had to reverse the reopening less than two weeks later. Will that happen in the UK too?
Quite hard to be sure. On one hand, Delta variant has already established itself in UK (whereas it’s only now getting a foothold in much of Europe). Plus UK has higher vaccination levels than most other countries. And school holidays will help too (less classroom transmission)
However, because UK has prioritised vaccinating older, more vulnerable people, upshot is Covid could spread more freely among younger age groups than in other countries where vaccinations were distributed more evenly among age groups. Eg: high case growth, slower hospitalisations
Every other time cases were rising like this govt response was to put foot on brake. Now it’s putting its foot on the accelerator.
& even if you assume lower hospitalisations, still big questions abt other consequences, eg Long Covid.
But (big but) something important has shifted
Even after u account for the usual lag, the link between cases & deaths seems to have weakened considerably.
Thank goodness.
There are many consequences of Covid that shouldn’t be taken lightly. But fact that far fewer people are dying is some welcome good news.
In coming weeks cases will mount further.
So will hospitalisations & deaths.
There will be lots of shouting (esp here on Twitter).
But this is a nuanced situation.
We at @skynews will try to help you navigate this.
Because we take data seriously skygroup.sky/skynews

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More from @EdConwaySky

Dec 19
If you're even half interested in energy, I bet you've seen this chart. I call it The Most Hopeful Chart in the World.
The point? We're embracing renewable power MUCH faster than expected.
Hurrah!
Only problem is, this chart has an evil twin. A chart we really need to discuss
🧵 Image
The Most Hopeful Chart in the World shows how each year the @IEA predicted that the amount of solar output around the world would plateau or rise v slowly in the following years. But instead solar output defied all expectations, rising exponentially.
That's great news.
But making solar panels is an energy-intensive exercise.
You need a lot of coal to smelt down the silicon and a lot of power to turn metallurgical silicon into polysilicon, let alone the monocrystalline boules you really need for a decent solar module (read my book for more 📖)
Read 11 tweets
Dec 14
🚜FARMAGEDDON🌾
The story of what's REALLY going on in farming. A story far more complex than the conventional wisdom.
This isn't just (or even mainly) about inheritance tax. It's about a cascade of challenges & crises that may ultimately threaten food security.
📽️5 min primer👇
Let's begin with that big, overarching issue: food security.
For most of the past century, farmers have been encouraged to grow as much food as possible. The story here goes back to WWII and its aftermath, when the conventional wisdom was the UK needed to be more self sufficient Image
Encouraged by the govt, the UK's domestic food production, which before WWII had dropped to just 35% of what we ate, rose rapidly to over 60%.
Some economists say self sufficiency is overrated. But it's one of those post-war principles that stuck.
By accident as much as design. Image
Read 30 tweets
Dec 6
🚗What's happening to Europe's car industry is one of the biggest stories in the world right now, & prob the biggest story of next year too.
A slow motion implosion driven by multiple factors (esp Chinese competition).
Watch my primer on what's going on👇
What makes this moment so dangerous, so destructive for legacy carmakers, is that this is a perfect storm. Three main issues:
1. The shift from conventional engines to batteries is a DISRUPTIVE innovation. The kind of thing Clay Christensen wrote about.
This is a MASSIVE deal...
Think about a combustion engine.
An assembly of HUNDREDS of pieces of metal, all perfectly honed to turn fuel into motion.
Making these things is REALLY hard. Which is why:
a) that's where most of the value/jobs are
b) other countries have struggled to compete making them Image
Read 17 tweets
Nov 28
Today we learnt the no of people flowing into the UK hit an all-time high last yr: an influx we've NEVER seen before either as a total or as a share of the population.
So... why is the @ONS (and some news organisations) reporting this as a FALL in migration?!
Let's dig deeper
🧵
The ONS publishes immigration figures every six months. There's a lot of data, with plenty of provisos all over it.
But as is often the case the story gets simplified in the telling.
Consider the story the last time the data came out. This is how the chart looked 👇 Image
And here's how most people reported the numbers: immigration was going down. Yes, from unprecedented highs - but even so. Down by 10%. A success story, as far as the then govt was concerned. Image
Read 12 tweets
Nov 19
🧵SALT🧵
It's been snowing in the UK and the road gritters are out in force, begging the question:
Have you ever wondered where that grit actually COMES from?
The answer is more magical, beautiful and fascinating than you probably realised.
1/14 Image
Because that dirty-looking salt being spread by trucks on our roads is actually the remains of an ancient ocean (actually two ancient oceans), buried deep beneath our feet.
Most of the stuff being spread in London comes from a single mine in Cheshire - at Winsford.
2/14 Image
Here, about 20 to 40m beneath the meadows of Cheshire, is an enormous slab of halite, rock salt, the remains of an ancient inland sea a couple of hundred million years ago.
This is where most of our salt comes from.
3/14 Image
Read 14 tweets
Oct 31
🧵How worried should we (and @RachelReevesMP) be about the slightly nervy reaction from financial markets towards her first Budget?
Short answer: certainly a bit worried.
But perhaps not for the reasons you might expect...
Worth saying at the outset: these markets are volatile.
Trying to interpret movements in govt bonds is v tricky.
They're moved by all sorts of factors - fiscal, monetary, economic and structural - from all over the world.
So yesterday's Budget is only one of many factors here...
Even so, there has been a marked rise in UK bond yields following the Budget which is greater than what we're seeing in other markets.
This morning the UK 10 year bond yield hit the highest level in nearly a year. It's up 1.7% since yday - far more than US or German equivalents Image
Read 9 tweets

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