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01-12-2020, 10:19 PM
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Coming Out of Recession?

Good news for Australia, with our economy appearing to already be on the mend from coronavirus.

The nation recorded a recession earlier this year, for the first time in almost three decades.

However, the Reserve Bank says we may be already coming out of recession, expecting the economy to have grown slightly in the September quarter.

It was feared that Victoria’s second lockdown may have worsened the state of the national economy, but yesterday’s Senate estimates hearing heard different.

The danger is that there is a double dip.

Double dip recessions are common. Europe double-dipped after the global financial crisis. America double-dipped in the early 1980s.

What do you think? Are things going to get better or worse where you live?
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01-12-2020, 11:22 PM
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Re: Coming Out of Recession?

Originally Posted by Bruce ->
Good news for Australia, with our economy appearing to already be on the mend from coronavirus.

The nation recorded a recession earlier this year, for the first time in almost three decades.

However, the Reserve Bank says we may be already coming out of recession, expecting the economy to have grown slightly in the September quarter.

It was feared that Victoria’s second lockdown may have worsened the state of the national economy, but yesterday’s Senate estimates hearing heard different.

The danger is that there is a double dip.

Double dip recessions are common. Europe double-dipped after the global financial crisis. America double-dipped in the early 1980s.

What do you think? Are things going to get better or worse where you live?

In our personal position were pretty much fire proof but the pandemic is going to play merry hell all over the show. Were not going to just emerge into life as it was and build back to something close to what was.
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01-12-2020, 11:26 PM
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Re: Coming Out of Recession?

Hype, who needs it.
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01-12-2020, 11:45 PM
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Re: Coming Out of Recession?

We need to sort out the rest of the World first before we get Britain back on track.
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02-12-2020, 03:19 AM
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Re: Coming Out of Recession?

The actual figures for the September quarter were revealed today, they are like the curate's egg.

Australia's economy grew 3.3 per cent in the September quarter, according to the latest gross domestic product (GDP) figures from the Bureau of Statistics.

But in the year to September 2020, GDP declined 3.8 per cent.

The September quarter growth came after a 7 per cent economic contraction in the three months through June — the worst fall on record, which confirmed Australia had entered a technical recession due to the coronavirus pandemic.

The return to growth follows a year of economic contraction, but with high unemployment forecast to persist for several years, the effects of the recession continue to be felt.

https://www.abc.net.au/news/2020-12-...gures/12934336
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02-12-2020, 12:37 PM
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Re: Coming Out of Recession?

Originally Posted by Longdogs ->
We need to sort out the rest of the World first before we get Britain back on track.

To hell with the rest of the world, we should concentrate on England, Wales, and Ulster.
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02-12-2020, 12:53 PM
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Re: Coming Out of Recession?

Originally Posted by The Artful Todger ->
To hell with the rest of the world, we should concentrate on England, Wales, and Ulster.


We won't though will we Todger......

I believe it's going to get a helluva lot worse yet. With lots of retail outlets and other businesses closing their doors and making tens of thousands of people unemployed, where are the new jobs going to be coming from?
I can see a situation where there will be hundreds of people applying for a benign job. Employers will only need to pay the absolute minimum to struggling hopefuls....
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02-12-2020, 01:25 PM
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Re: Coming Out of Recession?

Originally Posted by OldGreyFox ->
[/B]

We won't though will we Todger......

I believe it's going to get a helluva lot worse yet. With lots of retail outlets and other businesses closing their doors and making tens of thousands of people unemployed, where are the new jobs going to be coming from?
I can see a situation where there will be hundreds of people applying for a benign job. Employers will only need to pay the absolute minimum to struggling hopefuls....

Exactly. Though why we should give a Tinkers Cuss about other countries totally defeats me.

As for the effects on England, Wales and Ulster, the effects are going to be catastrophic. There is absolutely no doubt that the standard of living is going to tank. It's going to be the same in Europe as well as the USA. I do wonder how long the EU will remain united with the pressures coming down the pike. Not long is my hope.
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02-12-2020, 09:13 PM
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Re: Coming Out of Recession?

Originally Posted by The Artful Todger ->
Exactly. Though why we should give a Tinkers Cuss about other countries totally defeats me.

As for the effects on England, Wales and Ulster, the effects are going to be catastrophic. There is absolutely no doubt that the standard of living is going to tank. It's going to be the same in Europe as well as the USA. I do wonder how long the EU will remain united with the pressures coming down the pike. Not long is my hope.
Defeats me too Todger....
It's a good job we decided to come out of the EU when we did, otherwise we would have been pulled down with them.
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02-12-2020, 09:49 PM
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Re: Coming Out of Recession?

After 25 days without a new case of Covid the NSW Government has announced a sweeping set of changes to state COVID-19 restrictions which come into effect from next Monday.


  • The 4-square-metre (per person) rule will be replaced with a 2-square-metre rule at all venues, except at gyms and nightclubs.
  • Standing outdoors will be allowed at hospitality venues, but not indoors
  • Fifty people will be allowed on indoor dance floors
  • Up to 5,000 people will be allowed to attend outdoor ticketed events
  • There will be no upper cap on the number of people allowed to attend weddings and funerals
  • Outdoor gatherings like picnics will have their cap raised from 50 to 100 people
  • Stadiums and outdoor theatres will have a 100 per cent capacity
  • Indoor theatres will be allowed to have up to 75 per capacity

That should help revive the economy further.
 
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