Josh Frydenberg has declared the economic shock of COVID-19 has dwarfed what the world saw during the Global Financial Crisis. In address to the National Press Club, the Treasurer warned the economy will only get worse before it gets better.
"Notwithstanding Australia’s success to date on the health front, and the unprecedented scale and scope of our economic response, our economic indicators are going to get considerably worse in the period ahead before they get better,” Mr Frydenberg said. "The economic shock of the world dwarfs what we have seen during the GFC. During the GFC the global economy contracted by just 0.1 per cent in 2009.
JoshFrydenberg Downplaying the GFC is an interesting one. Maybe it has something to do with the fact that the US were responsible for the GFC
JoshFrydenberg Because we never recovered from the GFC. Central banks only made the problem bigger (ie. kicked the can down the road), thus the crisis that is unfolding before our very eyes.
JoshFrydenberg Then. OPEN. UP. THE. ECONOMY. Dumbass. More will die from economic starvation than the virus.
JoshFrydenberg Der!
JoshFrydenberg Yeah it was COVID-19 that caused Australia's massive debt bubble and not deliberate Liberal Party policy.
JoshFrydenberg And that is exactly what China wants.
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Increased immigration flagged as a way through coronavirus economic crisis | Sky News AustraliaMacquarie Bank CEO Shemara Wikramanayake says increasing immigration would be a viable way to help Australia cope with the economic fallout of the novel coronavirus. \n\nShe said the solutions for the current economic crisis would be a focus point of Macquarie Bank’s Australia 2020 Conference .\n\nShe said boosting the population would provide opportunities for economic growth in a variety of sectors. \n\nThe comments come after the government predicted net overseas migration will fall to just 36,000 in 2020-21 - down from 239,600 the year prior.\n\nImage: AP potentially importing more cases from countries less anal about lockdown Vested interest. No thanks.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia about to experience a 'very sharp, strong recession' | Sky News AustraliaAustralia is about to find out 'what it is like to have a proper recession,' according to InvestSMART chief economist Evan Lucas.\n\nAustralia's domestic market slumped five per cent on Friday to finish the session at 5,245.90 points.\n\nMr Lucas said the sharp-sell off is a sign the strong results on the ASX in April was a 'false dawn.'\n\n'What we normally see in stereotypical bear markets, which I think we are absolutely in, we see bull runs,' he said.\n\n'I think May will basically tell you what is likely to happen with regards to the overall economic impacts finally coming through to earnings.\n\n'Bank earnings are telling us this is going to be a very, very sharp strong recession and very much something we haven't actually ever experienced in Australia.\n\n'We got through the (2008) GFC much better than most other nations and I think we are about to find out exactly what it is like to have a proper recession.'\n InvestSMART_AU EvanLucas_INV Enough with your sensational fake news. InvestSMART_AU EvanLucas_INV Try 'depression'. And don't blame it on some boogeyman 'virus' aka exosomes. Blame it on treasonous, parasitic-politicians and their central banking paymasters. Plandemic Scamdemic Event201 ControlledEconomicDemolition GovernmentIsTheVirus Agenda2030 InvestSMART_AU EvanLucas_INV Looks like the tax breaks for billionaires and conglomerates was an unmitigated disaster.
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South Australia appoints committee to navigate exit strategy | Sky News AustraliaSouth Australia has appointed a transition committee to navigate the state’s exit from the coronavirus emergency.\n\nThe committee is made up of the police commissioner, the chief public health officer, and the chief executives of the premier, health, treasury and trade departments.\n\nPremier Steven Marshall said the exit plan will come by the end of the week as some restrictions could be lifted as soon as Friday. Yes throw more money around that you don’t have No Govt then in Australia either.
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Jacinda Ardern ‘can’t push over the top COVID caution’ to Australia’s leaders | Sky News AustraliaSky News host Chris Kenny says he hopes New Zealand Prime Minister Jacinda Ardern doesn’t promote “overdone lockdowns and exaggerated caution” during her National Cabinet hookup with Australia's political leaders on Tuesday. \n\nMs Ardern will be part of the National Cabinet meeting where the discussion of a ‘Trans-Tasman bubble’ will reportedly take place with Prime Minister Scott Morrison and our state and territory leaders. \n\nMr Kenny said now is the “time for loosening” of restrictions and the “time for business to be freed up”. \n\nHe said the meeting with Ms Ardern does “make sense” given the connection between the two nations and our efforts to combat COVID-19. \n\nImage: Getty jacindaardern She's embarrassing. jacindaardern He only says that shit because he has to display the “shock jock” persona. It shows that he understands that’s the way to keep his job on your news network. jacindaardern Let’s be frank. We taje no notice of Chris and Jacinda has far too much intelligence to.
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Australia pledges $350 million toward global COVID-19 vaccine fund | Sky News AustraliaThe federal government has announced it will contribute $350 million toward COVID-19 vaccine research and development as part of a $12 billion pledge to the cause.\n\nAustralia has joined a number of other countries – including Japan, Italy and Canada – in the move, while the United States has refused to contribute. \n\nImage: Getty I won't take a vaccine!! I hope it wont be mandatory What so they can put more animal tissue in it? To see how much gain of function and more lethal they can make it? We are proud Aus govt but it is peanuts 🥜 - Wipro founder Premji donated 150M and that is a single company.
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Trans-Tasman travel bubble 'has an enormous amount going for it' | Sky News AustraliaTourism and Transport Forum CEO Margy Osmond says the idea of a trans-Tasman travel bubble “has an enormous amount going for it”. \n\nA trans-Tasman bubble allowing Australians and Kiwis to travel between countries will be on the agenda when New Zealand's Prime Minister joins today's national cabinet teleconference.\n\nThe Tourism and Transport Forum CEO told Sky News there was an enormous amount of work being done to facilitate the plan. \n\n“I think it’s important to understand that New Zealand is still our second biggest market, in fact it’s only in the last 12 to 18 months that China beat New Zealand as being our biggest group of inbound,” Ms Osmond said. \n\nMs Osmond said it was especially important following a horror year for the industry which was already devastated by the bushfires. \n\n“Essentially from the tourism industry’s perspective, we’ve had the ultimate perfect storm, the double whammy to end them all,” she said. No. Its opening up the back door round Australia's borders. NZ is already hiding illegal immigrants. E.g Behrouz Boochani.
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