News Coronavirus Thread

[Masked Avenger]

We're pretty well placed. Largely because we DIDN'T suffer much in 2008.

Imbeciles claim money was wasted by Rudd/Swan then but what they did was hailed globally as the world's best response, and it was. They kept unemployment down below 10 per cent which is critical. It takes so much longer to get that rate down than it does for it to go up.

We have enormous advantages though. The first is super. We have an enormous pile of cash and assets that we can use to get through this.

We can thank Paul Keating for that. It is a generationally defining policy achievement and it will save us here.

We also have vast amounts of raw materials of every sort. Some will be in less demand in a global slowdown, but we also have stuff like lithium that will be in high demand.

We have great human capital as well. Our medical research is world leading, and we have hugely important soft power cultural production.

Most importantly though, we have very strong political and governance institutions. Our system will hold up in ways that other countries don't have.

Take Britain. The 2008 crash led directly to the Brexit vote. Even by the Brexiteers own admission leaving the EU will cost 5-10 per cent of GDP. Add that to what is happening and British living standards are going to be below where they were in 2007 well into the 2030s.

Australian living standards in the 2030s will be well ahead of where they are now (presuming the climate effects aren't too bad)

All positive points. However, what we also have is one of the highest private debt to income ratios in the world. We can thank greed and short term government policies for that.

On Keating, while Super is a positive legacy, he also introduced negative gearing. That policy has more than anything led to a ramping up of property prices which has blunted the full potential of Super and has contributed to our current vulnerability to excessive debt.

 

[Del191229]

I was referring to the f-35 ‘leak’, rather then the nighthawk.

If the Chinese didn’t rate us stealth technology, then they wouldn’t have done this:
Australian and U.S. officials confirmed this week that an unnamed Australian defense firm involved in developing the F-35 fighter jet was hacked in November of 2016. The attackers, who may have been Chinese, stole large amounts of data on the F-35 and other vehicles and munitions.

It was later confirmed by defence sources that it was likely the Chinese who hacked in.

Nations having been stealing military intelligence off each other since one tribe worked out how to make fire hardened spears.

The F-22 is great, the F-35 is a boondoggle.

 

[Del191229]

All positive points. However, what we also have is one of the highest private debt to income ratios in the world. We can thank greed and short term government policies for that.

On Keating, while Super is a positive legacy, he also introduced negative gearing. That policy has more than anything led to a ramping up of property prices which has blunted the full potential of Super and has contributed to our current vulnerability to excessive debt.

Agreed on both, especially the private debt ratio. Is why it will get rapidly shit here if govt doesn't do something that is all but a UBI or mortgage freeze.

 

[Del191229]

So looks like the "self-isolating" is not really working in Italy?

It is in theory, but it happened too late.

 

[Del191229]

US is screwed ...

 

[Del191229]

The whole "Chinese Virus" thing is terrifying.

 

[Masked Avenger]

US is crewed ...

A Republican?

 

[Del191229]

A Republican?

A dumb kid, dumb kids are everywhere.

 

[TennisPlayerAndy]

As expected weddings off.
I have never despised the federal government to the point it hits a high extreme but without a doubt this current mob is the worst thing to happen to Australia.
Allowing the Grand Prix to half go ahead and then the decision to accept 30,000 international students being held in third countries on Feb 16 was the pinnacle.
All cause of the dollar. Greedy scum.

I’m lucky my job won’t be hit by the virus pandemic but god I wish politicians would suffer someway.
Small business owners and casual employees should not have to endure a sleepless night whereas Morrison and Andrews would drop two loads on their wives belly before nodding off like toddlers.

When was it booked for taz?

 

[Snake_Baker]

A punk prophecy

 

[Pykie]

18/3/20 - +116 = +25.83%
17/3/20 - +77 = +20.37%
16/3/20 - +77 = +25.75%
15/3/20 - +49 = +19.60%
14/3/20 - +42 = +20.10%
13/3/20 - +50 = +31.45%
12/3/20 - +24 = +17.78%
11/3/20 = +20 = +18.69%
10/3/20 = +14 = +15.05%

 

[Caracas]

We're pretty well placed. Largely because we DIDN'T suffer much in 2008.

Imbeciles claim money was wasted by Rudd/Swan then but what they did was hailed globally as the world's best response, and it was. They kept unemployment down below 10 per cent which is critical. It takes so much longer to get that rate down than it does for it to go up.

We have enormous advantages though. The first is super. We have an enormous pile of cash and assets that we can use to get through this.

We can thank Paul Keating for that. It is a generationally defining policy achievement and it will save us here.

We also have vast amounts of raw materials of every sort. Some will be in less demand in a global slowdown, but we also have stuff like lithium that will be in high demand.

We have great human capital as well. Our medical research is world leading, and we have hugely important soft power cultural production.

Most importantly though, we have very strong political and governance institutions. Our system will hold up in ways that other countries don't have.

Take Britain. The 2008 crash led directly to the Brexit vote. Even by the Brexiteers own admission leaving the EU will cost 5-10 per cent of GDP. Add that to what is happening and British living standards are going to be below where they were in 2007 well into the 2030s.

Australian living standards in the 2030s will be well ahead of where they are now (presuming the climate effects aren't too bad)

Good heavens , JLG, you’ve taken a huge lurch to the positive view of things there. I hope you’re right - for Australia, at least.


On iPhone using BigFooty.com mobile app

 

[ferball]

Humanity has become so pathetic so quickly. Maybe this is just a chinese precursor to war, to ascertain our readiness. We are ripe for the picking

Why would they do that when they are on track to be the most powerful nation I the world anyway, (well were till this started)?

 

[ferball]

Nations having been stealing military intelligence off each other since one tribe worked out how to make fire hardened spears.

The F-22 is great, the F-35 is a boondoggle.

We'd be better off rebuilding F 111s

 

[Del191229]

Good heavens , JLG, you’ve taken a huge lurch to the positive view of things there. I hope you’re right - for Australia, at least.


On iPhone using BigFooty.com mobile app

I'm negative how the average ******* responds, positive in the longer term structural.

A good way to raise revenue and cut costs in this time would be complete decriminalisation of all drugs, and legalisation and taxation of the sale of cannabis.

 

[ferball]

A punk prophecy

Believe it or not that song is sposed to be:

A/ a magical working
B/ a form of brainwashing for people who hear it

 

[Kangaroos4eva]

We'd be better off rebuilding F 111s

Got a shovel and a spare few months?

 

[Tectonic]

Got a shovel and a spare few months?

I know a few people that recently came to fit your criteria

They probably can't afford the shovel though

 

[ferball]

The whole "Chinese Virus" thing is terrifying.

While some mad Chinese warmonger Chinese General reckons it's a US bioweapon...

Idiots on both sides of the Pacific.

 

[Snake_Baker]

Believe it or not that song is sposed to be:

A/ a magical working
B/ a form of brainwashing for people who hear it

or

C/ a song

 

[Val Keating]

Qantas have stood down 20,000 staff. Told them to take unpaid leave. Ouch

 

[Del191229]

While some mad Chinese warmonger Chinese General reckons it's a US bioweapon...

Idiots on both sides of the Pacific.

The Chinese didn't just pick an 18 month long trade fight though.

 

[The Nostradamus]

Qantas have stood down 20,000 staff. Told them to take unpaid leave. Ouch

Inevitable all airline staff will take major hits
It might even end up getting to a point where domestic travel is banned in which case their whole workforce is redundant

 

[ferball]

I'm negative how the average ******* responds, positive in the longer term structural.

A good way to raise revenue and cut costs in this time would be complete decriminalisation of all drugs, and legalisation and taxation of the sale of cannabis.

It worked for parts of the USA in the GFC.

Its probably a really bad time to be selling weed. I know a couple of people who are. Next time I see them I'll ask them if they plan on sterilising the the cash they they get. I'll bet no one washes their hands before or after they hand over gear and money.

Legalisation might slow the spread by removing the need for cash.

 

[Del191229]