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from the lockdowns-were-supposed-to-be-just-one-part-of-defense-at-depth dept.
Economists warn of 'widespread costs' from lockdown:
Blanket restrictions on economic activity should be lifted and replaced with measures targeted specifically at groups most at risk, say economists.
[...] They argue that while the extent to which the lockdown contributed to a subsequent slowing in the rate of new infections and deaths is not easy to estimate precisely, it seems clear that it did contribute to these public health objectives.
However, they say it is "very far from clear" whether keeping such tight restrictions in place for three months until the end of June when they began to be lifted was warranted, given the large costs. They say that the costs of carrying on with such a lockdown are likely to have become significantly greater than its benefits.
Debate over the global dilemma continues.
(Score: 2) by c0lo on Thursday July 30 2020, @03:29PM (12 children)
Of course it's not. Of course it will be paid for. In 30 years - that's the term of the bonds that were issued
Of course it helps the Australian govt doesn't need to feed a MIC, so it can afford to borrow money.
Of course it's even more helpful that those money are paid to the people, not to the corporations - they can afford to buy things and keep the economy afloat until a treatment or a vaccine becomes available.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by The Mighty Buzzard on Thursday July 30 2020, @03:36PM (11 children)
That's not how that works. Printing bonds doesn't decrease currency value when the bonds mature, it does so immediately.
My rights don't end where your fear begins.
(Score: 2) by c0lo on Thursday July 30 2020, @04:22PM (10 children)
How marvelously genital theory.
Can this theory explain how come 2 months after the Australian govt magically printed AUD1.3T, the inflation dropped into the biggest deflation in 72 years [9news.com.au]?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by The Mighty Buzzard on Thursday July 30 2020, @04:41PM (9 children)
Yes, in fact it can. It's basically a Dead Cat Bounce. Perceived value accompanying a change being completely out of line with actual value leading to short term gains. Keeping that bounce going is like playing Jenga by yourself though; that shit's going to fall no matter how careful and skilled you are.
My rights don't end where your fear begins.
(Score: 2) by c0lo on Thursday July 30 2020, @05:05PM (8 children)
Except you extracted that from your ass. Nothing to do with the stock market (Dead Cat Bounce being a term used there), but even accepting the extension by continuation outside the domain for the meaning, the deflation came after 11 years of ever-shrinking inflation [companydirectors.com.au].
Those 11 years saw almost stagnant wage growth [abc.net.au] (growth adjusted to inflation is practically zero), the sudden deflation is a sign the population has too little money for buying what's already on the market.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by The Mighty Buzzard on Thursday July 30 2020, @05:19PM (7 children)
Doesn't matter if you're trading stocks or currency. The good in question is irrelevant.
My rights don't end where your fear begins.
(Score: 2) by c0lo on Thursday July 30 2020, @05:26PM (6 children)
Ok.
So you have 11 years of "appreciating currency" (decreasing inflation) followed by a sudden spike in the same "appreciating currency" (inflation got into negative territory). That's not the definition of a Dead Cat Bounce in any extension of the term.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by The Mighty Buzzard on Thursday July 30 2020, @11:42PM (5 children)
No, it's not. And it's also not what you were making a claim on. You were saying "Spending this buttload of money we didn't have this particular year did this wonderful thing" while you're now saying that shit had been trending that way for quite some time and can no longer claim any utility on that particular spending.
My rights don't end where your fear begins.
(Score: 2) by c0lo on Friday July 31 2020, @05:36AM (4 children)
It negates you claim of "immediate currency devaluation", tho', letting you with your economic theory still owing the explanation (because it's clearly not a Dead Cat bounce, since there's no bounce). For your convenience, here's what you said:
Yet, in spite of $1.3T injected in the market starting 2 months ago, we now experience deflation: if this is not "increase in currency value" on the local market (same money buys more), I don't know what else is.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by The Mighty Buzzard on Friday July 31 2020, @11:04AM (3 children)
No, it doesn't. The currency was devalued immediately. If that was hidden by other larger and more flashy factors, it is what it is but value was still lost. If you don't start understanding that soon you're going to have a lot of pain headed your way in the medium term and completely fuck yourselves in the long term.
My rights don't end where your fear begins.
(Score: 2) by c0lo on Friday July 31 2020, @11:17AM
Right. We're getting to matters of faith here, because the evidence don't show such a thing.
Assuming those money were never issued on the market, what would be their value?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by dry on Monday August 03 2020, @02:11AM (1 child)
Is this like the enormous debt from WWII? Economy grew enough afterwards that the debt kind of vanished.
(Score: 2) by The Mighty Buzzard on Tuesday August 04 2020, @03:29AM
Yup, very much. If OZ wants to devalue their shit and expect the devaluation to be made trivial by growth, more power to them. I personally don't like betting the rent money though.
My rights don't end where your fear begins.