The economy wasn’t in perfect health before bushfires and coronavirus, now it's fragile

"COVID-19 is a global health crisis, but it will also have very real and very significant economic impacts, potentially greater than the global financial crisis, especially for Australia," he said."The GFC impacts were centred on the North Atlantic, and back then China was in a position to cushion the blow for Australia."

Internationally, he said the US-China trade war had simmered down, the prospects for an orderly Brexit had risen, and there were early positive signs of manufacturing activity and trade improvements. Reserve Bank interest rate cuts will do little to keep Australia out of a deep recession if coronavirus becomes a severe pandemic, but there are some unconventional policies that could help save the economy.

They say household consumption — which makes up 56 per cent of the economy — has been on a downhill slide since the 2018 March quarter, when it was growing at 3 per cent. By the December quarter, consumption growth had fallen to a paltry annual 1.2 per cent. "We think that the widespread weakness in activity will weigh on the labour market and cause the unemployment rate to surge to 5.7 per cent before long."Westpac chief economist Bill Evans warned this week that the economy was already weak before the coronavirus outbreak.

Amid the threat of coronavirus, Scott Morrison's Government needs to keep growth going, spending enough — not too much, not too little — and choosing the right measures.

That’s what happens when you vote in successive governments since 2007 which are hostile to entrepreneurship and business in general. YouGetWhatYouVoteFor

. Australia is NOT an equal society. Wealth distribution is too skewed. Basic living expenses (health insurance, electricity, mortgages) have exponentially outpaced wages. GDP is no longer the key measure We should measure total taxable income per capita for each decile. .

The main problem with talking down the economy by ctrys leaders & MSM is that the over sensitive stock investors tend to shit themselves and prices drop dramatically. I would say that is a good reason to be more positive. And saying we will ride it out and bounce back is positive

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Expert warns of higher death rate than China as Sydney outbreak investigatedAustralia must prepare for a higher coronavirus death rate than China, a biosecurity expert says, as health authorities investigate a growing cluster of cases in north-west Sydney | Kaubo rachelclun Kaubo rachelclun This would apply here too I think. So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that Kaubo rachelclun 10 March Donald J. Trump So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that! Kaubo rachelclun Corona-virus 10 March 93 cases of Corona-virus in Australia, Deaths in Australia 3 2019 Flu killed 900 Australians Corona-virus World 110K cases, World deaths from Corona-virus 4000 World Flu killed up to 500K 2019
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