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Old 18th Aug 2021, 02:34
  #7507 (permalink)  
43Inches
 
Join Date: Oct 2007
Location: Aus
Posts: 2,792
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Everything is open--- Aus - well cranking up the debt- A billion per week? I don''t know the numbers but that per capita spread you mentioned is gonna close pretty quickly.
Not entirely true, USA is still down 30% closure on SMEs. Some result of permanent closure, some closed by choice to avoid the virus and others waiting for the economy to pick up. While things may be open, there is a general fear of the virus subduing travel and trade among some populations. This will continue for a while. The reason the US economy is doing ok at the moment is that Biden pumped a few thousand bucks into every household 3-4 months ago. If something is not done relatively soon about the financial situation in the US there is going to be some severe pain for them coming.

Britain opened and growth has since stalled slightly due to similar reasons. A big drag on the UK economy is isolation of affected workers not being able to be productive. You still can't work while infected, which means all those positive cases, plus their families and close contacts are non productive, effectively like a lockdown.

We have a completely different economy to the USA. Comparing the two is borderline irrelevant. We have different challenges and vulnerabilities going ahead. How responsible you think the COVID fiscal response is for this country, is dependant upon your view of how quickly these challenges and vulnerabilities can present. Soft, selfish and lacking national cohesion. Not great for future generations.
Balance of trade is all that matters, how the economy produces it, who cares, if you spend more than you make like the UK and US, you eventually have to face your debtors. US is already seeing inflation creep up, this is not ideal. Your claim is that our children will be worse off than the rest of the world. There's absolutely no proof of that, in fact the complete opposite is true. And if you think we lack social cohesion, well you need to look at the rest of the world more closely.

Last edited by 43Inches; 18th Aug 2021 at 02:46.
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