Economic implications of a SARS/Coronavirus outbreak

[Joe90]

This forum is absolutely lovely compared to the one I've frequented in the past. If you want to experience real douchebags, head on over to the career/education/finance section of overclockers australia.

A bigger group of f**kwits you will never find.

I looked for that forum out of interest's sake but couldn't find it. Did they close it after you left ???

 

[over9k]

It's not publicly viewable, you have to get an account before you can see it.

 

[sptrawler]

Slowly we turn the ship, one small step at a time.

https://au.news.yahoo.com/woolworths-little-ones-nappies-made-australia-not-china-055000845.html

 

[sptrawler]

Well @wayneL, your prediction GST will be high on the agenda, is playing out.

https://www.abc.net.au/news/2020-07-01/gst-20-years-old-is-it-time-to-increase-the-tax-rate/12407258

https://www.smh.com.au/politics/nsw...ys-key-tax-reform-review-20200630-p557qn.html

 

[wayneL]

Well @wayneL, your prediction GST will be high on the agenda, is playing out.

https://www.abc.net.au/news/2020-07-01/gst-20-years-old-is-it-time-to-increase-the-tax-rate/12407258

https://www.smh.com.au/politics/nsw...ys-key-tax-reform-review-20200630-p557qn.html

It will be a two pronged push, GST to 15 or possibly even 20%, plus a renewed push for the cash ban legislation.

initially $10,000 but very quickly adjusted via regulation down to probably around $2,000

Then complete AUD digitisation, possibly with some sort of attempt to outlaw cryptocurrencies.

IMHO

 

[Chronos-Plutus]

US healthcare costs a shocker for Covid stay

https://www.seattletimes.com/seattl...omes-with-a-1-1-million-dollar-hospital-bill/

$1,112 million , thanks very much. At least he survived.

And international travel is going to kick back up, just like before? With a side dish of Mickey Mouse Insurance, please.

Good luck trying to get COVID coverage into your travel insurance package.

 

[sptrawler]

It will be a two pronged push, GST to 15 or possibly even 20%, plus a renewed push for the cash ban legislation.

initially $10,000 but very quickly adjusted via regulation down to probably around $2,000

Then complete AUD digitisation, possibly with some sort of attempt to outlaw cryptocurrencies.

IMHO

I agree 100%, I think with 5-10 years the largest note will be $5, then eventually all electronic.
The world governments have to move on with digital for several reasons, tracking, tax avoidance and as you say they can't let a sub currency take hold, very hard to control monetary policy when you don't control the currency.
GST has to go up, you can't have company tax returns dropping, income tax returns dropping and welfare payments going up.
The tax(money) has to come from somewhere.

 

[wayneL]

It will be a two pronged push, GST to 15 or possibly even 20%, plus a renewed push for the cash ban legislation.

initially $10,000 but very quickly adjusted via regulation down to probably around $2,000

Then complete AUD digitisation, possibly with some sort of attempt to outlaw cryptocurrencies.

IMHO

Which is actually turning me into a cryptocurrency and gold/silver megabull.

 

[wayneL]

I agree 100%, I think with 5-10 years the largest note will be $5, then eventually all electronic.
The world governments have to move on with digital for several reasons, tracking, tax avoidance and as you say they can't let a sub currency take hold, very hard to control monetary policy when you don't control the currency.
GST has to go up, you can't have company tax returns dropping, income tax returns dropping and welfare payments going up.
The tax(money) has to come from somewhere.

Which, once again, screws the lower and middle income sector, perennial cash cow for profligate governments.

I have some other predictions which might be a little bit too controversial for here, for now.

Suffice to say "we live in interesting times".

 

[SirRumpole]

GST has to go up, you can't have company tax returns dropping, income tax returns dropping and welfare payments going up.
The tax(money) has to come from somewhere.

Here's an idea, what's sauce for the goose...

Why don't we say that we will drop business tax to 20% providing they can't claim deductions for GST they have paid ?

That's the trick they played on consumers, why not businesses as well ?

We're all in this together after all.

 

[sptrawler]

Here's an idea, what's sauce for the goose...

Why don't we say that we will drop business tax to 20% providing they can't claim deductions for GST they have paid ?

That's the trick they played on consumers, why not businesses as well ?

We're all in this together after all.

Even if mining companies paid pump prices for diesel it would help.

 

[wayneL]

First cab off the rank

 

[sptrawler]

First cab off the rank

I'm not convinced gold is a safe haven, just can't see it being involved in a digital currency.

 

[jbocker]

First cab off the rank

Caronavirus is a catalyst. The Saudis don't have a future plan beyond selling oil.

 

[over9k]

And shale's absolutely f***ed them, hence them pumping it like nobody's business trying to send all the other producers bust.

 

[Smurf1976]

NAB are mothballing an entire major office building in Melbourne:

https://www.smh.com.au/business/com...oria-locks-down-20200701-p557zi.html#comments

NAB will "mothball" two major office towers for the foreseeable future, including its Melbourne Docklands headquarters

If they're able to carry on business as usual without the cost of major CBD office buildings the the logical question is why would they or anyone else go back to having them in future?

All that rent, cost of cleaning, utilities etc plus staff are going to be absent due to illness far more often in a major building than if they're working from home.

 

[over9k]

Yeah, a lot of businesses are realising just how easy working from home has become. Same with employees.

I can see a lot of commercial real estate hitting the market soon - if it sits empty or yielding nothing then maybe we'll see calls for much of it to be rezoned residential or something.

 

[Dona Ferentes]

Yeah, a lot of businesses are realising just how easy working from home has become. Same with employees.

I can see a lot of commercial real estate hitting the market soon - if it sits empty or yielding nothing then maybe we'll see calls for much of it to be rezoned residential or something.

So what's the point of having our cities organised on hub & spoke arrangements. All those transport lines, congestion. Why concentrate in large expensive locations; what about some decentralisation?

Exciting times.

 

[sptrawler]

So what's the point of having our cities organised on hub & spoke arrangements. All those transport lines, congestion. Why concentrate in large expensive locations; what about some decentralisation?

Exciting times.

The main reason cities are organised the way they are is because people want to live there, more amenity more services, bigger market place.
So service companies locate there, their workforce locate there, major company head offices locate there because their management want to live there and the ponzi system grows and grows.

 

[sptrawler]

Yeah, a lot of businesses are realising just how easy working from home has become. Same with employees.

I can see a lot of commercial real estate hitting the market soon - if it sits empty or yielding nothing then maybe we'll see calls for much of it to be rezoned residential or something.

A friend who owns a travel agency has set up everything on line due to the virus, the business is really struggling but she is adapting, organising tours inside W.A, now she is trying to get out of her lease of the shop it is killing her financially.
So as you say 9k, there must be heaps of businesses that are in the same boat.
Imagine small travel agents in Victoria, it must be a nightmare for them.
As Rumpy has said humans adapt, so the accelerated changes to the way we do business will happen quickly, the interesting bit will be who are the winners and who are the runners up.
It is a bit like at the shopping centre the other day the Uni Qlo shop was packed, I asked the wife why, she said they sell nice plain clothing, not everyone wants to loud and proud.
Maybe the world is changing.