COVID-19: who’s going full doomsday prep on this?

mas2 said:
I can understand it to a degree though. If they are getting money then they will be spending money on a range of stuff. If I got money I would just be paying rent and food for the family...
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Except we are all going to have repay it with higher taxes and the like down the track. It will take a decade to repair this.. Proper benefits should be paid for the people that need them rather than watering the payments down..
 
Kerplunk said:
Except we are all going to have repay it with higher taxes and the like down the track. It will take a decade to repair this.. Proper benefits should be paid for the people that need them rather than watering the payments down..
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Oh I am pretty sure I will be perfectly eligible for those higher taxes.
 
hifiandmtb said:
Repair is likely not possible. A new economy will spawn from this - won't be the same as that from a few months ago.
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We can only hope.. I highly doubt it. Nothing changed post gfc, and now they will just print more money.
One thing I do wish for is more high value manufacturing to come back to Australia, we have been caught out and hopefully learn from it..
 
hifiandmtb said:
Repair is likely not possible. A new economy will spawn from this - won't be the same as that from a few months ago.
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Which they will still make the employed tax payer pay for the next 10 years.

Feeling that we should not have a whinge as its hasn't happened yet and those of us with 100% safe jobs should count ourselves fortunate in the scheme of things.

.... But you can see it coming a mile away, those who have worked, educated themselves and paid tax for 30yrs and never got a cent from the system... be prepared to be shafted.

I scrape to break even every tax-time and I am a PAYE employee with no investments, shares or anything else to scam/claim.
 
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johnny said:
Here you go, macro-economist and supply line specialist from Perth USAsia centre:
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I saw a few questions getting shot a Coorey what the link was between supplies and firb.. No response. I assume it was to illustrate what could possibly happen if state interest companies got hold of a lot of our assets for cheap.. Someone was pushing this agenda and it worked really quickly. Be nice if other stuff changed this quick..
 
mas2 said:
Worked 14 years at one place and just 2 months ago got a new job so my employer doesnt get the bonus for me so guess who would be on the chopping block first. And because centrelink arent asset testing that means I am in the same boat as the dude with 4 houses and a Lambo when I lose my job.
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You are not in the same boat. That dude will still have 4 houses and a lambo...

Not sure, but word is despite not asset testing there will still be an income test. So perhaps the income derived from those 4 houses will preclude such a person from receiving assistance.
 
pink poodle said:
You are not in the same boat. That dude will still have 4 houses and a lambo...

Not sure, but word is despite not asset testing there will still be an income test. So perhaps the income derived from those 4 houses will preclude such a person from receiving assistance.
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Then he merely drops rent, suddenly income is reduced or the places require "repairs" etc. Always a loop hole..
 
hifiandmtb said:
Repair is likely not possible. A new economy will spawn from this - won't be the same as that from a few months ago.
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Serfdom isn't exactly a new economic model though.

Kerplunk said:
But old mate with 4 houses won’t, he has assets he will get a tax reduction...
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It's not the assets that deliver the tax deductions, it's his liabilities...owning those houses is really risky business.


Sethius said:
Then he merely drops rent, suddenly income is reduced or the places require "repairs" etc. Always a loop hole..
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Will be interesting to learn how their income from rent vs cost of mortgage plays out with Centrelink.
 
hifiandmtb said:
Read this, so much change can happen from this:

https://www.politico.com/news/magaz...ct-economy-life-society-analysis-covid-135579

Another good local article:

https://www.abc.net.au/news/2020-03-30/why-stocks-have-further-to-fall-coronavirus-covid-19/12101376



Unfortunately, I feel the rich-poor divide will only increase...
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I'm not betting on a wholesale expansion of public health after a vaccine is introduced and the pandemic finishes.

Maybe, but I think the universal basic income might get some more support after this.

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Oddjob said:
Maybe, but I think the universal basic income might get some more support after this.

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I can see Scomo, Dutton, and frydburger jumping at the chance to push for an improved standard of living...



I wanted some eggs tonight so I made a lady minute slip into the supermarket. There was a lot of people from a low socioeconomic scenario in there as well. The panic and confusion that some of these guys were going through to find basic items amongst what was left over on the shelves was painful. With a lot of the grocery staples cleared out and certainly no toilet paper or suitable substitute available plenty of this part of our community are hitting struggle street a bit more frequently than usual.
 
I agree that asset testing is needed.

Doesn't seem right that people with jobs, regardless of what they're earning aren't entitled whole those without work but sitting on huge wealth are eligible.

I've been stuck renting trying and trying to save a deposit, as a result I just pay and pay taxes and never get any relief... Now I'll probably pay higher taxes down the road...

I have no issues whatsoever supporting those that need it... but for people who could borrow from the bank against the equity in their ridiculously valuable houses, or sell a fancy car, I think that should be the first gauge... not your weekly income.

I'll never get ahead...
 
Interesting that the discussion regarding Covid19 is mainly regarding class wars and the unfairness of economic support.
The other social media I comment on is ski.com where it must be a wealthier demographic?
Mountain bikers are an underclass ?
I hope we can keep riding ?
 
Just read this article about a family in quarantine.

I set off on March 7 from our home in regional Victoria, embarking on a trip Chile and Peru for a family wedding with my partner and our four-year-old daughter.
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Are you insane? Do you live in a cave? Apparently not:

Jarrod Whittaker is a journalist in the ABC's Gippsland newsroom.
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Well done is all I can say. Now staying at the Intercontinental with harbour views.

www.abc.net.au

My five-star coronavirus quarantine hotel has great views, but it's not a holiday

ABC journalist Jarrod Whittaker's family trip to a wedding was derailed when Peru closed its borders — now he's back in Australia, and living in a gilded prison at Sydney's InterContinental hotel.
www.abc.net.au www.abc.net.au
 
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