It really could be a downward spiral. We will know by September if Australia is in an official recession (though for what it's worth, we've been in a per capita recession for a long time now so people actually have been getting poorer).
If the bad news escalates around the world, companies will start laying people off in anticipation of a downturn (though if you read headlines many have already commenced). Government stimulus won't work, neither will printing money.
It really could be a downward spiral. We will know by September...
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