OH WOW –
For 12 years the Coalition has spent its time denying that there was ever such a thing as the GFC. In fact it ran election campaigns and Royal Commissions into the actions the ALP took to overcome the threat the GFC posed to our national economy.
The standard line from abbott/Hockey, Turnbull/Morrison and the incumbents has been that the ALP over-spent and destroyed the economy for no apparent reason.
Now the Morrison/Fraudenberg Ministry for Distributing Taxpayer Money to Their Mates aka the Treasury has suddenly begun comparing COVID-19 with the previously non-existent GFC!
Even the evil Rudd cash-splash is on the table in an attempt to stimulate an economy this series of ‘Liberal’ Governments has trashed. Remember when we were 1st in the world?
Is this Government so bereft of policy and ideas that it must suddenly go to a solution which they have decried for more than a decade?
And it won’t work!
Rudd/Swann spent $52 Billion and took 4% off the cash rate.
Now the cash rate is 0.75% and $52 Billion is enough to give Fraudenburg conniptions!
Last time we had a recession, Paul Keating labelled it the ‘Recession Australia had to have.’
Now, after that recession put us on a path to nearly three decades of growth, this Government has, in their IPA-promoted wisdom, set us on the path to an inevitable recession we did NOT have to have!