Depressionberg upsells his depression

He’s done OK, led by Labor on the stimulus that mattered, so why lie about it? Via the AFR:

Only three countries in the world experienced a less severe June quarter economic downturn than Australia’s record 7 per cent hit, according to Treasury analysis.

South Korea, Finland and Denmark recorded economic contractions in the June quarter of 3.2 per cent, 4.5 per cent and 6.9 per cent respectively. All three countries imposed strict COVID-19 lockdowns.

But those countries also all recorded bigger hits to their economies in the previous quarter than Australia did. In March, Australia’s economy shrank 0.3 per cent while Korea’s contracted 1.3 per cent, Finland’s 1.9 per cent and Denmark’s 2 per cent.

Balderdash:

China 11.5 -10
Bolivia 6.1 -0.9
Kuwait 2.6 -1
Uganda 2.5 0.8
Trinidad And Tobago 2.2 -1.8
Ghana 1.2 1.9
Ireland 1.2 0.4
Saudi Arabia 1.2 0.3
Kenya 1.1 1.4
Algeria 0.8 1.4
India 0.7 0.9
Moldova 0.5 -1.2
Paraguay 0.4 1.4
Bosnia and Herzegovina 0.3 -0.1
Russia 0.3 0.5
Hong Kong -0.1 -5.3
Albania -0.3 -0.6
Senegal -0.5 4
El Salvador -0.8 0.5
Belize -0.9 -1.2
Botswana -0.9 1.7
Qatar -1.4 -1.4
Taiwan -1.4 -1.03
Costa Rica -1.6 1
Greece -1.6 -0.7
New Zealand -1.6 0.5
Uruguay -1.6 -0.7
Jamaica -1.7 -0.5
South Africa -2 -1.4
Ecuador -2.11 -0.68
Bahrain -2.24 -1.4
Malta -2.3 1.1
Namibia -2.59 0.59
Honduras -2.6 0.7
Luxembourg -2.9 0.4
South Korea -3.2 -1.3
Mauritius -3.6 1.5
Indonesia -4.19 -2.41
Rwanda -4.2 1
Finland -4.5 -1.9
Argentina -4.8 -0.9
Norway -5.1 -1.7
Lithuania -5.5 -0.3
Estonia -5.6 -2.2
Dominican Republic -6.5 5.8
Latvia -6.5 -2.9
Denmark -6.9 -2
Australia -7 -0.3
Japan -7.8 -0.6
Israel -8.1 -1.7
Switzerland -8.2 -2.5
Slovakia -8.3 -5.2
Sweden -8.3 0.2
Netherlands -8.5 -1.5
Czech Republic -8.7 -3.3
Poland -8.9 -0.4
Iceland -9.1 -5.7
Serbia -9.2 -0.5
Slovenia -9.6 -4.5
Brazil -9.7 -2.5
Germany -9.7 -2
Thailand -9.7 -2.5
Bulgaria -9.8 0.3
Ukraine -9.9 -0.7
Austria -10.4 -2.4
Turkey -11 -0.1
Canada -11.5 -2.1
Cyprus -11.6 -2.1
European Union -11.9 -3.5
Belgium -12.1 -3.5
Euro Area -12.1 -3.6
Romania -12.3 0.3
Italy -12.8 -5.5
Chile -13.2 3
France -13.8 -5.9
Portugal -13.9 -3.8
Nigeria -14.3 -5
Hungary -14.5 -0.4
Colombia -14.9 -2.4
Croatia -14.9 -1.3
Philippines -15.2 -5.1
Malaysia -16.5 -2
Mexico -17.1 -1.2
Spain -18.5 -5.2
Tunisia -20.4 -2
United Kingdom -20.4 -2.2
Peru -27.2 -6.3
United States -31.7 -5
Singapore -42.9 -3.3

I’m pretty sure that I’m the world’s fastest short, fat bloke named David Llewellyn-Smith but that doesn’t mean I should get a medal for it.

David Llewellyn-Smith
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Comments

  1. happy valleyMEMBER

    “… so why lie about it?”

    Because the LNP is the LNP. And just think, if it weren’t for Victoria, Josh would have got the gold medal. It’s all Labor’s and Victoria’s fault.

  2. Arthur Schopenhauer

    The genius of the ‘service economy’. Right up there with the second invasion of Iraq.
    (If 50% of the Australian economy wasn’t digging dirt out of the ground, we’d really be toast. It’s a shame the ‘productive’ part of the economy only employs ~1.5% of the population.)

  3. Arthur Schopenhauer

    Australian supply chains for specialist manufactured goods are starting to run very thin. The shortages in PPE earlier in the year are starting to run through other goods, especially with parts made in SE Asia and North America. Things like basic tools, wire, etc.

    The third order effects of Covid are starting, The Federal Government appears blind to the problem.

    It’s hard to have a nation of shop keepers if no-one can stock their store.

    Who coulda…

    • Yes, shortages of stuff.
      – buying cotton blankets( hard to get)
      – mattress toppers, hard to get natural fibres in sizes I’m looking for.
      – bought chook food yesterday( layer mix, seeds). Been buying it for a decade.
      Opened a pack this morning and it’s full of grass, virtually no seeds.
      Normally no problems in finding ranges of all that sort of stuff.

      • Wait until chocolate rations increase from 35gm to 22gm a week per person. And the people will cheer it, Friday arvos will be 2 minutes of hate toward to Labor Party.

  4. Joshy and Scummo clearly think that they’ve got this one beat and it’s just the Victorian ‘commies’ dragging the chain. Smugness all round, but they may have fallen into the same complacency trap as the Texan republicans did when ‘liberal’ states like NY and NJ were being ravaged in March.

    The moment summer arrived in cities like Dallas and Houston, the numbers exploded. In warmer climates, air conditioned homes and buildings become refuges from the oppressive heat. Those who think Sydney can’t be compared to the US South should think again. It reached a record 48°C in Western Sydney last summer.

  5. This morning I noted that on the ABC website, there were a grand total of zero stories about the recession.

    The same absences were also noted on the News Ltd page and The Age website.

    One would think that as the biggest economic news story of the time, this would be front and centre. Unfortunately consistent with previous government scandals, our media are taking direct instructions from the government – it’s almost like believe if they don’t talk about it, it won’t register with the public.

    DLS should get a medal for not being a government suckup.

  6. I think he has picked developed/OECD countries only given South Korea, Finland and Denmark were particularly compared.