Looking at the government’s current plan, I interpret it as this:
- We can’t stop the spread, we can only slow it down so health services can cope
- Do not go to complete shutdown, it would only delay the spread and cause further issues to the economy
- Pump the economy with money to keep it going – we cant have a recession and deal with this virus. Worry about how to pay this back later
Other thoughts:
- Vaccines would take 12 months best case scenario and that doesn’t including manufacturing and distributing a billion doses
- A large majority of our population would need to develop immunity (either from recovering from virus or vaccine), before restrictions could be lifted – this will take ages, we are at 0.016% of the population in Australia
- We don’t know how we are going to pay back the debt, when our economy is going to be so fragile for so many years. Can they increase business tax? Increase GST? Income Tax? Tax miners? I can’t see how our economy could handle this
- Current infrastructure projects would have to be delayed for years (jobs), until some of the debt is paid back
- How can people say this virus is only going to be around for 3 months or 6 months. I know some people are using China as a form of measurement, but how do we know if their numbers are accurate?
- Have we seen the worst of it, or is the worst yet to come – seems like it’s only starting here and its escalating very quickly
- If the worlds largest countries are in economic troubles, this would have to have an impact on the demand of our resources
- I’ve heard from a couple of our largest builders that no one is signing building contracts at the moment? What happens to the building industry if this continues - note construction is a significant driver of our economic activity
This will take years and years to recover from - whats your thoughts on how long it would take to get back to all time highs?
