<iframe src="//www.googletagmanager.com/ns.html?id=GTM-K3L4M3" height="0" width="0" style="display:none;visibility:hidden">

Flat White

Yes, there’s a by-election on, but this baseless optimism about the economy needs to stop

3 July 2020

11:45 AM

3 July 2020

11:45 AM

Since the coronavirus economic crisis began, there has been a great deal of rhetoric from the Morrison government that the economy would “snap back” to the way it was pre-COVID19, that their policies would “bridge” the crisis allowing for a rapid economic recovery.

This view has been supported by rosy forecasts from the RBA and Treasury, promising a recovery that can only be described as fantastical compared with those of the past decades.

After the release of the May unemployment figures, analysts concluded that the ‘real unemployment rate’ was approximately 11.3%,

Already a subscriber? Log in

Subscribe for just $2 a week

Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.

  • Unlimited access to spectator.com.au and app
  • The weekly edition on the Spectator Australia app
  • Spectator podcasts and newsletters
  • Full access to spectator.co.uk
Or

Unlock this article

REGISTER