tyransyn

Considering that economic uncertainty pretty much guarantees an aggregate reduction in discretionary spending it should be almost a given that the household saving rate will increase. The issue is the circumstances and market fundamentals behind COVID are not the same as the GFC (and prior to the GFC).

Going off the trading economics data the saving rate jumped from ~1% to 10% during 2008-2009 and has steadily declined since the peak to around 4% in late 2019. How much do you think this rate will rise and how long do you think it will persist for before gradually declining like it has for the last 10 years?

Title. Also reading material/criticisms greatly appreciated.

From The Age live news feed:

$1600 on-the-spot fine for people breaching social-distancing rules

The Premier has revealed 56 new cases of coronavirus were confirmed in Victoria overnight, bringing the state's total to 821.

He said the message for Monday was simple, following Prime Minister Scott Morrison's advice on Sunday night: "Stay at home."

"Victoria has moved to stage three and that involves a ban with an on the spot fine of more than $1600 if you breach it, on gatherings with more than two peo

See title.

Given the heated discussions I had with some other posters on the sub, I am curious as to what their proposals are and I do wish for them to share it. I ask that everyone not downvote the comments or argue pointlessly but clearly ask for justifications if there are any questions. Any sources are welcome but you "must" explain what the source is trying to convey so that the general audience can understand them.

Even if you don't advocate for this model, feel free to post away ideas.

https://www.abc.net.au/news/2020-03-23/coronavirus-economic-stimulus-passes-parliament/12080388

Federal Parliament will now not sit again until August.​

Pretty bad optics don't you think?

Update: Even Borris Johnson is shutting down the UK and we are doing squat. We are truly fucked.

Now that there are lines for Centrelink services and their offices being packed, the government has effectively made a mass spreading event. Maybe look forward to case numbers skyrocketing in a few weeks?