Quote:
Originally Posted by asagaai
Not my view- what I perceived Professor Swan to be saying.
Just thought I would post the article which provides another perspective. I also do not agree that covid 19 is a mild or innocuous pandemic, but next year will be the acid test for our economy in terms of housing, homelessness, and business wind ups.
There are so many zombie companies that are insolvent and dead, but do not know it yet due to jobkeeper etc.
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My opinion of dealing with this virus is similar to Alan Jones perspective, that is, as per what the PM said in March or April, 99% of people will get over this with minor to mild symptoms. We need to get this country opened up to get the economy going.
We can be in furious agreement though regarding the economic outlook for next year and the year after. We're going to see the consequence of government protecting the 1 percenters next year. Job Keeper and Seeker has artificially kept some sectors of the economy going, the party ends March 2021. It's going to be interesting indeed.
I'm following what the banks are warning about, not the hype perpetrated by the real estate sector and the FOMO mini housing boom going on in WA.