ASX booms as seven million Australians collect new dole

David Llewellyn-Smith

Tuesday 31 March 2020

The Australian dollar is soft:

Bonds are still firm if off a little:

Stocks to the moon!

The mix is amusing. Big Dirt is not up much:

But Big Ponzi is through the roof:

Hoocoocoodanode that seven million Australians on welfare could lead to a stock market boom?

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.