R ≤ 1 = (ERM)

I've been thinking about the whole "r must be equal to or less than 1" thing. The so-called "R rate". This is the mechanism governments are using to deal with Covid, where the "R" (rate of infection) must be kept below one. Meaning each person infected must be infecting less than 1.0 people on average (if I'm understanding it correctly). If the number is over this we move to more lock down. If the number is below this we can open more things up.

It reminds me a little bit of the Exchange Rate Mechanism (ERM), which eventually led to the famous "Black Wednesday" in 1992. Where Britain crashed out under the weight of the economic damage it was causing to the country.

This could be a little bit similar. If we assume everything is as it is portrayed in the mainstream media, and forget for a moment any questions about the wider overall narrative. Then we (and other countries) are effectively pegging our entire economy to a single number. A single number we may have little real control over. Of course, once politicians commit to staying within this numerical parameter it then becomes very hard to u-turn and throw this commitment out. As was the situation with the ERM. They've nailed their colours to the mast and any deviation from it will be viewed as going back on their own words. Breaking their own rules. No matter how bad the economic damage caused.

It'll be interesting to watch, both here and in other countries.