Coronavirus (COVID-19) Discussion Thread

[JRPGfan]

Pemalite said:

Australia's first recession in almost 30 years... All thanks to COVID. 7% hit.
Wonder how much more that would have been if the Government didn't inject 300~ billion back into the economy...



The bright side is... We have taken a significantly less hit than say the United States who didn't bother to lock down like we did. - So we saved lives and took less of an economic hit... Makes you wonder how American conservatives can place economic output above lives when they have blatantly failed at both.

the UK still has brexit comeing 1st of jan 2021, when the transition periode ends.
Its gonna have another 5-10% drop, caused by that as well, at a time when other countries economies will be recovering and growing again.

Plus the UK seems opposed to the methode of spending your way out of it.
Ie. borrow money, spend it on projects = creates jobs = pays taxes = returns on that borrowed money (which in turn lesses the impact of all these crisis).

Conservative thinking, isnt good for dealing with situations like this.
Cutting spending to the bone, as a means of dealing with things, just doesn't do the job well, and often comes with suffering ontop of it.
Its painfull and slow, for recovery.