4 days in, Morrison stimulus redrawn

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That’s how crap the first attempt was, via AFR. The next one looks to be better focussed on what is needed:

The federal government is working on a second coronavirus stimulus package that could be rolled out within days.

Less than a week after unveiling a $17.6 billion package to try to save business and boost consumption, the crisis has worsened to such an extent that a second round is deemed to be urgent.

It is understood the new economic measures will be more about support than stimulus and will target both business and households.

At least it only took four days to figure out how dumb they are. “Support” is much better than “stimulus” given it is all about keeping people liquid while they quarantine versus last week’s ludicours attempt to get them to consume and catch the virus.

A couple more years of this and Buffoonberg might actually become a decent Treasurer.

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How’s it hangin’ on that superb stimulus, Chris Richardson?

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.