The economic consequences of Covid

Voters on the left are only slightly more stupid than the people they vote for. Ten months of lockdown and look what happens:

World witnessing greatest rise in inequality on record... Billionaires thriving as poor suffer...
Sharpest Rise in Poverty Rate in More Than 50 Years...

If you stop production [ie enforce lockdowns on our economies] you stop consumption, and that is the order in which things happen. And this is just the start of it.

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40 Responses to The economic consequences of Covid

  1. steve says:

    As ye sow, so shall ye reap!

    We allowed the Universities to indoctrinate the young and now the chickens start to come home to roost.

  2. Gorilla Dance Party says:

    That was the plan.

    The lockdowns were harshest on small business and the big corps were able to make a killing. This is one time when I’d be for corporations being fleeced to pay back all the small business owners who got wrecked. I would be in favour of it that is if I didn’t know how little would actually get to them if the gov did.

  3. nb says:

    Is it stupid to destroy liberal democratic capitalism if your entire life has been devoted to destroying liberal democratic capitalism?

  4. Jannie says:

    The evil Orange man did it.

  5. Australia Day address at today’s cermoany in my town:
    “Australian people endured the Covid-19 & have now come back stronger & more secure”

  6. Turtle says:

    Warming leads CO2
    Production leads consumption

    If those two truths were accepted the benefits would be enormous.

  7. stackja says:

    CCP virus helped billionaires, at expense of the less well off.
    Win-win for both.

  8. Crossie says:

    Ten months of lockdown and look what happens:

    According to our politicians, we are not done yet. ScoMo has an election to win so he needs us locked down until then.

  9. Alan says:

    OXFAM on Inequality: a Marxist organisation masquerading as a poverty-relief charity – actually said that capitalism is a “crime against humanity”.

    You only need to look at their current Blogs.
    Young Heads Filled With Green Mush.

  10. Mark M says:

    Quite so it is the beginning …Trump downplayed the costs of carbon pollution. That’s about to change –

    On 20 January, its first day in office, the Biden administration recreated an interagency working group (IWG) and ordered it to update the social cost of carbon within 30 days.

    Many economists believe the cost, set as low as $1 during the Trump administration, will rise as high as $125 in the next month—and higher still come January 2022, when the IWG is due to provide a final number.

  11. Dot says:

    I find the labour force data difficult to swallow.

    How many people are still on zero hours for job keeper?

  12. Mark M says:

    The Australian LNP is rolling out its Chinese flu vaccine advertising campaign:

    But, the vaccine doesn’t stop transmission:

    Mean while, I’ll have what he (President Trump) had …

    Germany to use corona meds that helped Trump

    “Spahn did not name the manufacturer that will be supplying the drugs but confirmed it was the same medicine given to then-US president Trump when he fell ill with COVID last October.

    “They work like a passive vaccination.
    Administering these antibodies in the early stages can help high-risk patients avoid a more serious progression,” Spahn said.”

  13. Dot says:

    Interesting to see if it is Regeneron or Bamlanivimab.

  14. Rohan says:

    We can’t have the upity African American and hispanic demographic self sufficient and elevated to the middle class now, can we.


  15. Dot says:

    The negra must be nurtured like my orchids, Mr Tibbs.

  16. Damon says:

    I think it was obvious, even to the economically illiterate, that if you close a business for a sufficient period, a proportion of the customers are not going to come back.

  17. a happy little debunker says:

    Mark M @ 7:28 am
    Australia’s ‘vaccine of choice’ in clinical trials achieved only a 62.5% effectiveness (after the required 2 full shots).
    ‘Experts’ reckon we will only achieve herd immunity once we reach immunity rates of 80%+.

    This suggests that even in the event 100% of Australians are vaccinated – social distancing, masks and lockdowns are here to stay…

  18. MACK says:

    Good graphic here: “Lockdowns are fine for people who make the rules, much tougher on others…”

  19. Pyrmonter says:

    And, at the risk of sounding like a journalist recently graduated from Economics 1, if you stop consumption, you’ll end production. Which is exactly what failing to suppress Covid has brought about. Suppression works – look around you. In Europe, education and hospitality are pretty much closed. Here, they’re trading better than almost anywhere.

  20. Indolent says:

    And they are hard at work to make it even wider.

    Nations have a “shrinking window of opportunity” to build a fair, green recovery, according to “The Inequality Virus” report, published as global leaders tune in for the World Economic Forum’s virtual “Davos Dialogue” meeting.

    The great reset.

  21. Gavin R Putland says:

    If you stop production [e.g. tax income and payrolls] you stop consumption, and that is the order in which things happen. And we’ve been doing it continuously for about a century.

  22. Mark M says:

    Davos 2021: to achieve a ‘great reset’, we can’t count on the same old globalists to lead the way

    “This recognises that the effects of the pandemic are likely to be increasingly compounded by other major global threats, including the climate crisis, financial crises, and social and economic inequality.

    The WEF’s vision of a “great reset” recognises that what is needed to tackle these crises goes far beyond economic reforms, or climate measures, or tackling a pandemic – it is all of these combined, and more.

    It is the idea that global action needs to be underpinned by a mission to change society, to make it more inclusive and cohesive; to match environmental sustainability with social sustainability.

    It follows their call to “build back better”one echoed by many around the world.

  23. Roger says:

    This suggests that even in the event 100% of Australians are vaccinated – social distancing, masks and lockdowns are here to stay…

    I believe the CMO has already indicated that will be the case.

  24. Bela Bartok says:

    Why does the bleeding obvious results from such a stupid lockdown surprise so many, many people?
    Especially those who *ought* to know better?

  25. min says:

    Because the average Joe blow does not think of anyone else outside his immediate circle and then only if he can get past himself.

  26. Mark M says:

    I went down that WEF rabbit hole …

    24 Jan, 2021: Davos Agenda: What you need to know about the global economy

    “In May, the world’s top risk professionals identified “prolonged recession of the global economy” as the most feared risk of COVID-19.”

  27. Roger says:

    “We should build an open world economy … discard discriminatory and exclusionary standards, rules and systems, and take down barriers to trade, investment and technological exchanges,” Mr Xi said in a 25-minute speech” at the virtual Davos.

    He kept a straight face while saying it too.

  28. Forester says:

    Come on man!

    Their ABC news this morning announced how well the ACT ‘economy’ was going.

    Highest per capita income, lowest rate of unemployment.

    And they are zero carbon emissions.

  29. a happy little debunker says:

    Highest per capita income, lowest rate of unemployment.

    When almost all your income and employment is paid for by the rest of Australia and both are at record highs in your select locality – it simply shows ‘we are not all in this together’.

  30. Mr Anderson says:

    Steven, while “Progressives” continues building Canceldom with endless free stuff, money printing & gaslighting, those of us who have not lost our sanity are asking some pretty important questions:

  31. John Comnenus says:

    Clearly that lady isn’t addressing the inflation question to anyone in government. Government understands it can create money, it can borrow money and it can spend money. But it doesn’t know anything about money.

  32. Bazinga says:

    Covid lockdowns are too Lord of the Flies.

  33. MatrixTransform says:

    economic effects of covid?

    consider commercial real estate
    valuations are in part, correlated to yield

    nobody in the office
    rental holidays
    business closures
    leases broken

    whaddya reckon happens to valuations
    whaddya reckon that means to your super fund

    look out below

  34. Kim says:

    Kates going all Picketty on us. What next? Back to Marxism in a full circle?

  35. Rex Anger says:

    Kates going all Picketty on us. What next? Back to Marxism in a full circle?

    I don’t know about any of that.

    But I do know EllenG is an incoherent squit with less understanding and more bile…

  36. Lee says:

    Kates going all Picketty on us. What next? Back to Marxism in a full circle?

    Oh, the irony!

  37. Squirrel says:

    “Oh look, billionaires are getting even richer – so let’s tax the middle class to help the battlers”

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