After RBA, Recessionberg puts stimulus cue in the rack

Several weeks ago I wrote:

The formulation of the gathering catastrophe is simple. Coronavirus is loose in China. The Chinese Communist Party has declared war upon it and must win lest it jeopardise itself. As the virus explodes, the base case for that is now to progessively shut the country down for six-to-nine months. There is still an upside risk case that the CCP succeeds in choking the virus sooner, or a miracle drug appears, but with each passing day material economic harm well beyond SARS is being done to China. And there is an even higher probability risk case that the CCP fails and the world succumbs to a pandemic unseen since the Spanish Flu of 1918.

The second component is that Australia has the worst government in living memory. Morrison’s administration is much worse than that of Tony Abbott or Malcolm Turnbull. It is stupid, corrupt and entirely absent policy process. It can’t manage good times and it is fantastically inept in the bad.

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