Welcome to the COVID-19 Financial Crisis (CFC)

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Economic forecasters are amusingly trying to pay catch-up, via Domain:

Mr Morrison said the government was preparing to help the areas of the economy most at risk from the breakdown of supply chains and the absence of tourists and university students.

“It’s a health crisis, not a financial crisis. But it’s a health crisis with very real economic impacts and the government is extremely mindful of that and we want to be able to get our responses right,” he said.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.