The Capitalist Meltdown

Our PM has given one thousand dollars to pensioners and certain others. First home buyers also get a lump sum. In all, a package of 10B goes straight to the people to kick start the economy. Straight Keynesian stuff, albeit no lift in public enterprises. The government knows that the pensioners will spend the money, they have little option because of their circumstances.

The approach here has largely been bi-partisan with very little politics in it. A general recognition by all sides that they have to sing from the same hymn sheet. the stakes are too high.

Yesterday, there was another solid day's trading on the ASX. The biggest rise over two days in 33 years. My retirement plans are still tanked, but while I suspect a recession, perhaps not a depression. Ivy league business schools anywhere will cut no special recognition from me. I didn't hear their professors warning anybody. Either they did not know, or, they didn't care. Either way, their reputations have also tanked!

 

Does your city have a drive thru medical provider - if not coming soon and taking credit cards with no questions asked if you pay cash.

I love America.

MM