Have XJO bottomed today, page-24

Amigos, the trigger may be the virus, but the outcome will be a devastated economy and a flattened ASX. The govt's stimulus package will do nothing. It doesn't even start until end of this month. For 12 months the govt has been totally focused on its budget surplus - and ignored the economic signals. Low interest rates and attempts to prolonge the housing boom were just bad economics. Businesses have been hanging on by their fingernails. We start this catastophe at a lower point than should have been the case. Now we are faced with a recession that will be worse than the virus. The sharemarket will be ruthless in response.