The RBA put out its latest 'guesses' about Australian economic growth when it released its rates decision earlier this month.
It came ot with its usual optomistic range of estimates and basically downgraded any impact from the bush fires or coronavirus data known at that time.
And now with the coronavirus hitting all aspects of the Australian economy from education, travel, tourism, real estate,farming, fisheries, mining (iron ore, coal, copper), and even LNG, how will Australia even come close to having any economic growth at all?
Previous GDP reports had positive economic growth as a result of impacts from the high prices and volumes of exported resources. With falling prices and volumes that positive impact is going to now be a negative.
International service income from toursim and education is also going to subtract from economic activity.
The Chinese government is lying through their collective communist teeth when it comes to the number of infections and deaths from the virus and anyone with any intelligence can look at the smooth progression of cases and deaths reported and see that the data has been manipulated.
The activities of the Chinese government and lock downs show the real state of the virus which is totally out of control.
