Australia is about to find out "what it is like to have a proper recession," according to InvestSMART chief economist Evan Lucas. Australia's domestic market slumped five per cent on Friday to finish the session at 5,245.90 points. Mr Lucas said the sharp-sell off is a sign the strong results on the ASX in April was a "false dawn." "What we normally see in stereotypical bear markets, which I think we are absolutely in, we see bull runs," he said.
"I think May will basically tell you what is likely to happen with regards to the overall economic impacts finally coming through to earnings. "Bank earnings are telling us this is going to be a very, very sharp strong recession and very much something we haven't actually ever experienced in Australia. "We got through the GFC much better than most other nations and I think we are about to find out exactly what it is like to have a proper recession.
InvestSMART_AU EvanLucas_INV Anyone buying a house at the moment deserves to have there property slashed by half it’s value!
InvestSMART_AU EvanLucas_INV Australia and the rest is the world are headed for a huge boom! Once these restrictions are lifted it's game on. All these held up jobs and works are going to explode. Who's not going on a holiday after this as soon as they can.. Correct.. EVERYONE!
InvestSMART_AU EvanLucas_INV Been on the cards for a while this just open the floodgates
InvestSMART_AU EvanLucas_INV Another one we have to have I suppose....
InvestSMART_AU EvanLucas_INV 😩😢😭
EvanLucas_INV InvestSMART_AU Sure we are going to have a recession, but will be reflected in a fall on the stock market. 1% interest rates, money printing, fiscal spending ... probably not
InvestSMART_AU EvanLucas_INV Rubbish 90% still in wrk and if can open shouldn’t be much other than the debt we now need to pay for stupid decisions
InvestSMART_AU EvanLucas_INV in a depression you mean
InvestSMART_AU EvanLucas_INV Like 1978
InvestSMART_AU EvanLucas_INV Yep and the young will not know what hit them because they have never experienced hardship. Terribly concerned that this will last for a number of years.
InvestSMART_AU EvanLucas_INV You know what would fix this? Letting people go back to work. But no, we have to continue to bend over for the virus fearmongers.
markc01 InvestSMART_AU EvanLucas_INV *Depression
InvestSMART_AU EvanLucas_INV
InvestSMART_AU EvanLucas_INV They lie, it would be nice if you could trust them, but you can’t 👍
InvestSMART_AU EvanLucas_INV Politicians and capitalists banked everything on the hope that an authoritarian dictatorship would 'see the light' and become more democratic. The stakes were 'our freedom', and they lost. A recession may be inevitable, but the public must now be AWARE instead of being sheep!
InvestSMART_AU EvanLucas_INV Immigrants, tourist and students are backbone off Australian economy and some dumb ppl on drugs keep blaming thm .
InvestSMART_AU EvanLucas_INV Try 'depression'. And don't blame it on some boogeyman 'virus' aka exosomes. Blame it on treasonous, parasitic-politicians and their central banking paymasters. Plandemic Scamdemic Event201 ControlledEconomicDemolition GovernmentIsTheVirus Agenda2030
InvestSMART_AU EvanLucas_INV Looks like the tax breaks for billionaires and conglomerates was an unmitigated disaster.
InvestSMART_AU EvanLucas_INV Enough with your sensational fake news.
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Source: SkyNewsAust - 🏆 7. / 78 Read more »