Morrison in for a rude shock on post-pandemic economics

In theory, recovery from the coronacession will be easier than recoveries usually are. In practice, however, it’s likely to much harder than usual – something Scott Morrison’s evident reluctance to provide sufficient budgetary stimulus suggests he’s still to realise.

Because this recession has been so short but sweet, it’s reasonable to expect an early and significant bounce-back in the September quarter. Just how big it is, we shall see. But, in any case, there’s more to a recovery than the size of the bounce-back in the first quarter after the end of the contraction.

Third, we’re used to our floating exchange rate acting as an effective shock absorber, floating down when our stressed industries could use more international price competitiveness, and floating up when we need help constraining inflation pressures – as happened during most of the resources boom.

1RossGittins You're assuming he cares. He doesn't.

1RossGittins Just don’t think he cares at all.

1RossGittins Useless lump of lard, not worth his salary.

1RossGittins C'mon! I reckon there's not more than a handful of people who think the recovery is going to be a walk in the park.

1RossGittins The economy was a fragile, population ponzi machine before and it is now exposed. Time to build back better with real competitive productive industries, cheap gas, water , agriculture and real business. Further mal investment and mass immigration are not going to work.

1RossGittins gov bailout is just a series of superficial prop up Imagine all businesses n tradies r all being floated by gov fund Even in bush towns shops r hanging on bailouts

1RossGittins This recession wasn’t caused by the corona pandemic. Sped up, sure. This recession has been on the horizon for a decade. Look at housing, cost of living and lack of wage growth. Stop making this about corona!!

1RossGittins I fear ScottyFromMarketing is a simpleton

1RossGittins The only issue is they LNP can't claw the money to themselves if it given to someone else, mind you many announcements have been without dollars to back it up, line $2B bushfire-support. It's plenty of evidence and research to what will work, they just wanna keep it to themselves

1RossGittins Does he even care? The main thing he needs to work on is getting rid of China. Bring back Australian manufacturing and helping out farmers on the land. Stop selling our country out.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What should life look like after this? Our top writers share their hopes for post-COVID AustraliaWe haven't beaten this yet, but as things begin to return to semi-normalcy, we ask our top writers about the kind of country they want to live in post-pandemic. The taxpayer-funded ABC would do better to report the facts. Let other platforms run with these social agendas. I don't want my tax dollars spent promoting political fantasies. All looks much the same to me. The end.
Source: abcnews - 🏆 5. / 83 Read more »

Coronavirus updates LIVE: Global cases pass 9 million, Australian death toll stands at 104Victoria’s Deputy Chief Health Officer, Dr Annaliese van Diemen, is due to provide an update on coronavirus at 2.30pm. You can watch her press conference live in our blog. She’ll just confirm what we all know: that she doesn’t know what to do. There was always going to be cases silently moving through the population. But I really think the question now is, is it still a dangerous strain or is it mild? If we are continuing to get rising numbers simply from random testing, is it posing a risk? How's it effecting people? I'm not too sure we can trust her, after her expressions of distrust and contempt for our society.
Source: theage - 🏆 8. / 77 Read more »

Dole payments to rise by $75 per week | Sky News AustraliaUnemployment payments are set to rise by $75 a week as part of reforms to the post-pandemic economy.\n\nThe permanent boost will take the base rate from $565 dollars to $715 dollars each fortnight. \n\nTreasurer Josh Frydenberg is expected to unveil the changes when he hands down the government's mini-budget in July. \n\nThe budget will mark the next phase of the government's economic response to the coronavirus crisis.\n\nImage: News Corp Australia What about Austudy payments Work experience kid wrote this tweet. Where’s your normal invective? Still Not enough to give those recipients respect or the ability to find employment, whilst putting food on the table and a roof over their heads. The PM will have hundreds of thousands living on the streets.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Chileans prepare to fly home after months stranded in AustraliaHundreds of Chileans stranded in Australia appear to be on their way home after long-awaited flights were made possible in part by Australians returning from Latin America
Source: smh - 🏆 6. / 80 Read more »

Banks promise to help customers after Government stimulus packages end in SeptemberAustralia's major banks have assured the Morrison government they will continue supporting customers affected by the coronavirus pandemic. 9News So they should with all the money they have made us ..... ripping people off with fees for this and fees for that ...... by supporting they mean ripping off
Source: 9NewsAUS - 🏆 10. / 72 Read more »

US coronavirus cases reach biggest single-day increase of pandemicThe United States records at least 40,870 new cases of COVID-19 in 24 hours, eclipsing the mark set during one of the deadliest stretches in late April. Thank you BLM protesters 👏. so when you don't make an article about the pandemic, you make an article about Race. Disgraceful journalism
Source: abcnews - 🏆 5. / 83 Read more »