Depressionberg Unstimulus sucks employment into black hole

A close look at the NAB business survey from yesterday using Westpac charts, which are more readable than NABs. First, as expected, the Depressionberg Unstimulus has done the reverse of any Keynesian counter-cyclical spending’s intended purpose. It has dislocated employment from the recovery:

There is no end in sight to this given capacity utilisation is terrible and the budget incentivises business to sack workers and replace them with robots, as well as part-timers:

Even as Victoria reopens:

Once the Victorian catch-up phase passes, the national economy is going slump into the Depressionberg Unstimulus demand black hole with workers and wages at the heart of the singularity.

Better hope that vaccine arrives pronto!