All Ords To Hit 1,250 Low Prediction., page-22

The second wave in Australia (the initial unemployment impact) maybe muted due to targeted Government assistance.

In countries such as the US it's another story. I understand that retrenched workers in the US only get a one-off payment and must then apply for the dole. Notwithstanding what ScoMo may do, we must accept that the global unemployment impact is catastrophic. We can certainly get by if our plans prove to be effective but we will be much poorer.

The immediate risk for Australia now is the China trade. A second wave of infections coming into China via airports and the Russian border is one issue. The elephant in the room is the impact of all of this on trade between China and the US and between China and other key regions such as the EU and Russia.

People still feel OK when they have money in their accounts and they aren't spending much.