How fucked are australians?

abc.net.au/news/2020-06-12/australia-100-days-out-from-economic-cliff-coronavirus-supports/12345710

Attached: 8157242-3x2-xlarge.jpg (862x575, 57.04K)

I'd move back to England but we are stuck here even though the government knows there killing families.

It's going to be interesting to see what happens when the new poor find out how centrelink really works.

Anyone else thinking long dated puts on the AUD?

How many of these people are just casual cafe workers though? people will get over not being about to eat muffins every morning, the economy will go on.

more than just cafes are being affected

Attached: unnamed.png (630x400, 57.16K)

Even with the rise in welfare payments, the stock market hasn't made a V-shaped recovery. I'm assuming it just put a pause on how bad the lockdown actually affected the economy and when the payments stop, everything will continue crashing. Is this logic flawed in any way, am I missing something?

ASX is cucked, the culture of investors is "cautious" and bearish. I put cautious in air quotes because it's unreasonably cautious. Same thing with the "economic cliff". People with legit, value creating jobs didn't stop working. Business has been booming this whole time. When we realise this, our market will respond sensibly, positively, and see us at the correct value- which is max 10 percent lower than pre covid.

These stats don't represent the situation at all. Company reports suggest decent sales with a few small losers.

I work in FX options in Sydney, the currency trades too closely to global risk sentiment for it to be a viable play on economic underperformance at the moment. We could see another test down to the low 60s but I can’t see a situation where we go below 60. I think there’s value in an ATM straddle - if JPow continues his brrrr and Biden gets in there should be widespread USD weakness - AUD could be at 80+ by EOY.

This of course assumes you just want to play direction and aren’t delta hedging.

>Business has been booming this whole time
can you name an example? I can only imagine essential businesses would be "booming"

once job keeper payments and double doll is cut its gonna dump hard, unemployment is sky rocketing.

what if unemployment goes down before the job keeper and double dole payments are cut?

Still can't believe how fucked we get with mining royalties, our country is one giant scam to sell houses and dig rocks

Talk to people with 80k+ paying jobs.

I don't know anyone who's lost work and the majority of my acquaintances have increased or steadied their productivity. You, and most vocal people, have a bias because you're in the low income bracket. The middle class and above are a silent, productive majority throughout all this. My specific line of work is engine equipment supplying resources, marine, defence and energy sector. It's fucking BOoming.

But it's low wage unemployment. We're not America. Low wage people aren't 50 percent of workers here. They're much more insignificant than you realise.

There are lay-offs at big 4 consulting but yeah I think most places have held up ok

Everyone in the education sector is pissing their pants right now. Highly educated people on $70k+ for full time admin and $120k+ for full time academics. Around 60 billions out of the economy if we can’t keep milking the international students.

well it's more than just lower class vocal minority, entire industries have been made illegal to open, so how do you explain that away by just saying that "productive businesses have been booming"?
is the tourism sector really that unimportant in the whole grande scheme of things?

It wont, job keeper payments get cut in 3 months, unemployment rate is gonna moon when that happens

are everyone on crack!? the programs are obviously not gonna end, if the economy react poorly to the removal of the stimuli packages, then they will just turn them back on.

It's insane to believe that anything the government is doing is gonna stop. As long as the market just threatens to crash, they will continue indefinitely with their stimuli programs.

False.

A family member works at a top 10 uni and has zero fear. He works in the business side of things. They're re structuring and laying off unproductive members of the work force, ie professors (who are cheap anyway, 120k for full time academics haha cool lie bro), going online, they're gonna be pretty sweet.

"Entire industries".. the smallest, most expendable, and by definition, non essential. Legit if you actually have money in this either hold or buy.

Also yes, tourism really is unimportant in the Grand scheme of things

When housing crash lads

Attached: 7512972-3x4-large.jpg (317x424, 30.31K)

probably correct, but its sad the can will keep getting kicked down the road
we need to take the hit, deal with 20% drop for house prices, and work through the recovery

I for one can't wait until the day . We're going down hill fast boys, better buckle up while you still can
Soon minimum wage jobs will be your only option Nikhil
Not long after September 1st passes

It's not happening bro. Take steps to improve your life.

Imagine using Centrelink child support to buy a scam coin.

Yes it is happening.

Attached: Screenshot_6.png (300x196, 14.32K)

honestly does anyone see a future in aus after corona
-still super high prices fro everything
-unaffordable property everywhere
-working options are limited and wages not rising
-suburbia forever
-nanny state

give me one good reason why anyone would stay here long term lmao
my plan is cash out crypto and savings after a decade mid 30s and buy a luxury 2-3 bed apartment in south east asia for 300k to skip the banking jews

i have no fucking idea what you just said so i bought more chainlink

The majority of the economy is service sector bullshit, and it doesnt make much of a difference whether those people work for their money, or are given handouts from the government and do nothing, it will only make the QOL a bit worse for those providing australias useful exports: Iron, coal, agriculture, education for chinks and selling overpriced houses overseas.

tl;dr It depends on China