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Kohler: Fiscal cliff dead ahead

David Llewellyn-Smith
Monday, 31 August 2020
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More nice work from Alan Kolher today:

As things stand the temporary lifting of the ban on trading while insolvent is due to end on September 27 and loan repayment deferrals were due to end at the same time but have been extended… up to a point.

…The JobSeeker coronavirus supplement goes to 1.6 million people and will be cut from $550 per fortnight to $250 on September 24 and then to zero on December 31. That is, unemployed people on the dole are set to go back to living on $40 a day from January 1.

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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.