Over 17,000 Views Australian Economy Article: Rolling Crises

This article was sent out two weeks ago, and the very high readership shows the high level of anxiety being experienced by business and professional people. Appropriately.

AUSTRALIAN ECONOMY: ROLLING CRISES FOR THE NEXT 1-2 YEARS AS THE NEWS OF THE CLOSURE OF THE NSW VICTORIA BORDER SHOWS. VICTORIA IS BEING FENCED OFF. Interrurptions to supply chains, personal income streams and corporate revenues will continue. A vaccine is not a sure thing, the now dominant strain is not what the research for a vaccine has been working on, there are all kinds of problems and economic impact still to come. PROTECT YOUR NEST EGG. It is delusional, believing what we all wish and want, but not accepting reality to even begin to think things will be back to normal anytime soon. Australia has done well to date, but is not out of the woods by a large margin. Economically. un-employment will be rising, spending and investment will be going down, following the first initial euphoria of things having opened up a little. After that it gets worse for 6-18 months before then you can consider buying a proper recovery. GDP will not contract 3% this year as some are saying, Think more in the range of 5% to 8%. Perhaps worse. Meanwhile the USA is in complete disarray with the worst most divisive 4 July speech ever combined with a completely OUT OF CONTROL virus situation The US economy will be on its knees in the second half of this year, NOT rebounding strongly.


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