#AustraliaHasFallen

Our economy was fucked before Covid, 9 straight months of - GDP right up until they started handing out Covid welfare cheques for 18 months.

You know the bit when you said you dont read or understand anything past the headline results when you google “Australia bad” 30 times a day? well okay you didnt but allow me to;

"The RBA has a government guarantee against its liabilities, meaning “there are no going concern issues with a central bank in a country like Australia,” she says by way of reassurance. And of course the central bank can simply print more money, so “the Bank can continue to meet its obligations as they become due and so is not insolvent. The negative equity position will, therefore, not affect the ability of the Reserve Bank to do its job.”

Our economy suffered less through covid than any other country, same during the 2008 GFC we hardly noticed the fucking thing

Oh right, they can always print more money.

For a second I thought they didn’t have any viable options.

Read the bit before that, you get the print money comment was tongue in cheek?

Australian Government > Reserve Bank of Australia

Nom sayin?

I agree with you champ but during both the GFC and this shitty Pandemic the economy was stable.

At the moment it is anything but and if,as predicted, 2023 brings a global recession then i feel we’re in for a very rough ride

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Im old enough to remember the predictions pre gfc and obviously the pandemic and they were dire, whats different now? Im actually not following that closely i just like rattle FreightTrains cage ( hes a good bloke) so thats an honest question

Its certainly a very very interesting time. Anyone whos followed the global economy would concede it feels like we’re on the edge of a precipice. Europe tinkering, North America tinkering, Asia (despite the b.s China report) not travelling well and the rest of the world doesnt matter.

Me and my mates left school just prior to the commencement of the last proper Australian recession (1991). If you didnt go to Uni these were very grim times. ABC ran a short doco years later on the impact of this recession on people aged 50 and over in that a great number of them never worked again.

Im hoping im wrong but the current situation has the same air about it…

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Had nothing to do with inflated welfare cheques though did it? Shut the country down, force a large percentage to not work and then pay them double the normal welfare from the earnings those that can still work taxes? All whilst we were 2 months away from a financial depression in the beginning? I know people that quit full time jobs to cop the Covid welfare. Our economy was fucking done before Covid, the government just found a way to push money to donors and buy out the smooth brains and postpone it for a few more years. The RBA sold all the non cash up peasants down the river. The writing was on the wall well before Covid, sorry.

If 6053 is your postcode in WA than you are being 100% disingenuous about the economy being “smooth” during the GFC.

Whilst i sit here in awe at your incredible investigative work in concluding 6053 is indeed my postcode i still dont know what youre on about.

Care to expand ?

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What does this mean?

Oh political donors? Gotcha