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The ScoMo Government

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So Morrison has gone to the states to hide behind and blame share with the vaccine roll out.

The States have all had a different approach to COVID with some common methods all have had great success so why wouldn't you?

I think the states will sort it out as long as there is supply and I suspect they will sort that as well.

One thing the states wont tolerate is anyone trying to off load blame so watch Morrison being our best mate while the states do the heavy lifting...again.
 
Gutting the public service and using your mates in business to roll out the vaccine is working a treat lol
 
IFocus said:
So Morrison has gone to the states to hide behind and blame share with the vaccine roll out.

The States have all had a different approach to COVID with some common methods all have had great success so why wouldn't you?

I think the states will sort it out as long as there is supply and I suspect they will sort that as well.

One thing the states wont tolerate is anyone trying to off load blame so watch Morrison being our best mate while the states do the heavy lifting...again.
Click to expand...
I suppose the other thing is, the Feds don't actually have any hospitals, the States run their own.
 
moXJO said:
Low jobless rate, general public had a year off, plenty of cash. Yeah that's a real vote losing combination.
Click to expand...
Another article, along the same lines, that doom and gloom was going to prevail and has been proven wrong. Well that is up until now, who knows what the future holds, but ATM the splash of cash by the Governments around the World seems to have avoided a disaster.
www.smh.com.au

An invasion of corporate zombies may still be on the horizon

When the pandemic hit there was expected to be a wave of corporate failures. It hasn’t eventuated, but there are grave fears over what the future holds.
www.smh.com.au www.smh.com.au
From the article, the Australia specific component:

Last month it issued a research paper that looked at a “bankruptcy gap” that has emerged globally. The number of bankruptcies since the start of the pandemic has fallen well short of the tidal wave expected.
We’ve seen that here. At their peak the major Australian banks had more than $250 billion of loans to small businesses and households where principal repayments and interest charges were being deferred. More than 90 per cent of those loans have now resumed normal repayments.

While the Reserve Bank has said business insolvencies started to rise towards the end of last year they were still occurring at well under half their rate of the pre-COVID years despite the pandemic.
The fiscal response and access to credit on remarkably cheap terms from banks that can borrow from the RBA at 0.1 per cent are the obvious explanations for the absence of the anticipated corporate blood-letting.
 
sptrawler said:
I suppose the other thing is, the Feds don't actually have any hospitals, the States run their own.
Click to expand...

Hospitals run at full tilt now vaccinations need to be dispensed outside of that system hence the vaccination hubs but really it should have been handed to the states anyway
 
IFocus said:
Hospitals run at full tilt now vaccinations need to be dispensed outside of that system hence the vaccination hubs but really it should have been handed to the states anyway
Click to expand...
Definitely, the logistics lend itself to a State run roll out, they have the resources, the venues and the people to do it. The Feds really haven't got anything, other than the money to pay for the vaccine.
 
Can travel to NZ now without 14 days in quarantine. Oh our covid response is such a mess.
 
As I said, sooner or later the economy has to start and hit the media, even if they don't want to talk about it.
Even the ABC has to talk about it.
IMO Albo is going to have to start his run in the next couple of months, or I think this will run away from him.
The other issue is, there is a budget due soon and if the splash of cash coincides with more opening of borders, it will lift people's spirits.

www.abc.net.au

Massive government spending has supported the economy — and the banks are benefiting

Loose monetary policy and government spending have supported the economy during the coronavirus pandemic and the banks are smiling.
www.abc.net.au www.abc.net.au
From the article:
Australia's economy is growing so strongly at the moment because of massive amounts of government spending (fiscal policy) and exceptionally low interest rates (monetary policy).

Our Commonwealth, state and territory governments spent hundreds of billions of dollars to support the economy through the pandemic, and we're seeing the results.
In July, in the middle of the lockdowns, the national unemployment rate hit 7.5 per cent.

But the latest figures show the unemployment rate has already fallen back to 5.6 per cent.

As we speak, more people are employed than ever before.

Before the coronavirus pandemic, the previous peak was 13,008,700 people in paid employment.

Last month, there were 13,077,600 people in paid employment.
This has occurred while international borders have been closed, so the rate of population growth has pulled back sharply.

The participation rate is now sitting at a record high of 66.3 per cent.

That means the size of the labour force, as a proportion of the working-age population, has never been larger.

Business conditions are at a record high. Consumer confidence is at an 11-year high.

All of these things are linked to massive government spending (both here and abroad) and health measures that prevented the virus getting out of control last year.

The mistakes the federal government has made with the vaccine rollout could disrupt the recovery and cost the economy dearly.

But at the moment, job vacancies are high and employers are reporting difficulties finding workers with suitable skills.

Property prices an issue, again​

Here are some of their current views on broad dynamics in the property market:
CBA thinks property prices will grow by 10 per cent this year.

Mr Comyn said owner-occupiers and first home buyers were accounting for a much larger share of the demand this time around.

Roughly 75 per cent of the demand was coming from owner-occupiers (and 15 per cent of that belonged to first home buyers). The remaining 25 per cent belonged to investors.

"That's quite different to what we've seen previously," Mr Comyn said.

"These factors are positive, not the least because it means more Australians are buying their first home, but also because they point to greater stability in the market."
None of the bank bosses expressed concern about property price growth at the moment.

However, Mr Comyn said if regulators did step in at some stage, they should consider using measures that won't make it harder for first home buyers to enter the market.

He said restrictions could be targeted towards investors, for example, while leaving new entrants to the market alone.

"No measure that we can take is perfect, whether that be [to cap] investor interest only, whether that be to cap higher loan-to-value ratios, or to restrict the maximum that people can borrow as a function of their income," he said.

"Typically those measures tend to impact first home buyers who are younger, typically, and borrowing higher proportions of their incomes with fewer savings to be able to provide a larger deposit.

"We could look for ways to sort of bifurcate or target those measures to have as few unintended consequences as possible."
 
Last edited:
Humid said:
Would be worse if it wasnt for the states but your right.
Click to expand...
All the labor states were authoritarian dicks about it. The majority of deaths were from Labor land.

Fighting libs on this front is a losing strategy imo
 
moXJO said:
All the labor states were authoritarian dicks about it. The majority of deaths were from Labor land.

Fighting libs on this front is a losing strategy imo
Click to expand...
Really? was pretty casual in WA ask the Libs all 2 of them
 

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