the economics of the situation are scary indeed, key words being any rise in interest rates at any stage in the near future having a large negative effect upon the monetary system, I suppose the cost of realestate and lenders with little or no collateral being the catalyst with the pandemic and lock down like you are saying.
But it reminds me of the situation of the years after the 1929 depression and more so in 1933 when Roosevelt implemented massive infrastructure projects as a form of stimulus, it took some time, but time but it was what was needed in such dire humanic situation, it is any governments nightmare to be in power i guess and have such a national emergency, but it is different however these days, as due to technology achievements effecting outcomes in industries and a movement away from fossil fuels and a move to renewables is staging a form of natural new technology infrastructure stimulus.
This requires re education and new learning sectors that opens up new lines of professions for young and older generations of Australians, which in turn will be a boost to employment and over time have an effect upon our GDP, Farming is a sector that comes to mind for this change as climatic conditions in the rest rest of the world are becoming more evident. And geographical favourability of our Continent and condition made be a natural godsend.
Add to it demand because of population increase over the last 20 years in Australia, and a building industry being fed by Smart in house technologies and demand for new housing and commercial living units, and you have a concede of sorts, of which without it is more likely that Australia would of faced a depression of some sorts Probably resulting in high unemployment and poverty. without this new technology over the last 20 years.
I think that Australian economic strength is becoming more evident as we are also mentioned as being one of the countries on the planet that is dealing with the pandemic and economic situation in a more resilient manner in comparison to our oversea's counterparts.
That being said it doesn't take away from the fact that our economic future is tied in ways to foreign trade markets and currencies, We are part of the crazy jigsaw puzzle, But i see education and re education and re training for new work industries particularly IT and computer advancement as part of new era.
