Pemalite said:
crissindahouse said:
The lockdowns have been the right decisions but many people will definitely not have the same life the next years as they had before. Even in Australia because of the global situation.
The real economical problems which will destroy many existences aren't there, yet.
Just look at Italy. A country which was already in huge trouble before. Now you have much more the government has to pay while getting much less in taxes. Countries won't be able to save every company even with them pumping money they don't even have into these companies.
Suicides will also increase a lot the next year(s).
But I'm still with you that the lockdowns had to happen
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Government has enacted some smart fiscal policy choices.
There is going to be an economic hit, no doubt, but the people are protected by a robust welfare system to weather the storm.
But we will get back to economic growth sooner rather than later... Sooner than most countries because we have successfully beaten COVID 19.
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Well, Australia is very strong in exports. Especially with raw materials. Even if the domestic market wouldn't suffer much, your exports could and if people working in an exporting industry will suffer, they will also spend less on the domestic market. Maybe not even because of a definite job loss but because of the fear to lose the job.
It's not fun to buy a new car, furniture or whatever with an uncertain future.
I guess most exports go to China because you have what they need but if they need less from you because as example Europe needs less from China then it will still hit Australia.
Sure, many other countries will be in much bigger trouble but with such a connected world economy, it won't be a fun time for any country.
I just hope that not too many will give up and take their own life.
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