The trivial detail upon which Lunatic RBA optimism hangs

Here it is from Luci Ellis as she spruiks the new dart-throwing forecast:

Closure of international borders to most movements of people is affecting Australia’s international trade and will continue to do so over the forecast period. International tourism will be infeasible until borders reopen, and will probably only recover slowly. This will affect both services exports and imports; before the pandemic, tourism imports – spending by Australians travelling overseas – substantially exceeded tourism exports.

Education exports are also an important component of Australia’s international trade. This includes spending by foreign students when they are in Australia, as well as direct revenues such as university fees. Many students did manage to get to Australia before the borders closed. So, unlike tourism, this component of services exports will not fall to essentially zero, but it has fallen significantly. We project that education exports will remain broadly stable over the next year. This expectation is predicated on the assumption that allowances will be made for some international students to arrive for the start of the 2021 academic year.

Let me translate:

“to supress the virus, Australians won’t be able to move between states or internationally, but we’re going to parachute tens of thousands of infected students into VIC and NSW to boost house prices and crush wages”.

David Llewellyn-Smith
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Comments

  1. erutangisMEMBER

    I hope more understanding of the implications of getting COVID become more widely understood .. like the brain damage one you posted this morning.

    I hope allowing this type of crud will be electoral suicide.

  2. Jumping jack flash

    Hooray!

    First the students, and then the 3rd world slaves soon to follow as COVID “refugees” or something like that. Being a fairly low incident country, it is our duty to extend ourselves to welcome these slaves, err, workers, err, refugees.

    Fire up the restaurants and cafes, the recovery is here!

  3. Have they not realised that if Australians can’t leave the country, the same will likely apply to any immigrants coming in? A prospective foreign student would have rocks in their head if they make the trip not knowing if they could get out and not having any guarantee of any paid work or government support.

    • Oh they will come if we let them.

      The ONE thing going for us is that the economy will be shot to bit and so there won’t be the same need for slave labour. If there aren’t wages to be illegally worked for then the hoops of the fake student visa won’t be jumped by as many.

  4. The government will struggle with this politically, the university sectors reputation has been totally trashed by their arrogant, greedy, dishonest administrations over many years now.

    • I don’t think that worries Scummo. He has a totally compliant media that enables his already corrupt government.
      Scummo will do it anyway