Originally Posted by
dr dre
On an Australian domestic front we were bound to be in trouble sooner or later anyway. Before corona retail was in recession, GDP was in per capita recession, wage growth had flat lined, employment figures were masked by high levels of casualisation and underemployment, interest rates were on a path towards zero, personal debt was almost the world’s highest paying off millions for poorly built shoebox apartments, the bushfires harmed the economy and now corona will officially put it in a recession.
I have noticed a lot of government figures are starting to play up the “China lied, our countries suffered” position, IMO to distract from what was their poor handling of the economy to begin with.
From VA’s point of view was their ever any need for two full service airline groups in a nation of 25 million when plenty of much larger nations only have one? Especially when one hasn’t been profitable for a decade?
Absolutely. Before this, the economies of many western countries, Australia included, were on their knees. CV-19 simply delivered the final coup de gras.