Its now officially a recession

Obviously lockdowns don’t work

 

The amount of people on Jobseeker/Youth Allowance has been over 1.6 million since May 2020, which is essentially double what it was in the years prior to the pandemic.



1.6 million unemployed whilst the amount of job vacancies was around 131k in June 2020.

 

Government imposed recession

 

And the government thinks it's a good idea to give high income earners a generous tax cut that scales up nicely for the minority earning up to 200k pa and are less likely to circulate it through the economy. Phase 3 which has still has some time before introduction but still

 

Report - Mainstream Australians Smashed As Lockdowns Disfigure Economy

'The third key finding is that between 14 March and 5 September 19,700 new public servants were hired, while 607,000 private sector workers have lost their job. This means that for each public servant hired 30 private sector workers lost their job.'

 

It's just about votes. No Government will do what is best for the people if that means losing an election. Even if this means creating a recession.

 

Yep. And it's the first recession in the history of the world whereby regional property is skyrocketing and thus leaving the capitals in it's wake.

DYOR...

 

Stocks are rocketing as well (ex financials and energy) insert rocket emojis.

 

@MTR I see your recession and I raise you a nationwide boom!

 

Yep, a lot of talk of a recession, even rumours of a depression.....
Amazing what printing money and a pandemic can do !
We "seasonally adjusted" our way out

 

Whatever it takes to make markets move, I couldnt care less. As long as they move and money is made. That's why I invest, to build wealth. Period.

 

Scotty's recession lol

 

The precedent was set with the Rudd stimulus.
They said at the time that 3-400 Billion debt was ok, so they didn't have a eg to stand on and got outplayed by Scomo at their own game as the debt is now ove 600B and 45% of GDP.

So once again the can gets kicked down the road.
It creates a sort of equality as all other developed nations do the same.
Although the glaring precedent of japan is still there, though it may be mitigated.

Hyperinflation at negative interest rates. Used to be an oxymoron.