Comments by "John Woodrow" (@johnwoodrow8769) on "Australia to experience 'its worst recession in history'" video.

The unemployment rate is NOT 10%, it's currently about 15% and will easily go to 20%. The Job Keeper program is nothing other than a scheme to fudge the unemployment figures. If you're in the private sector and paid by the Government YOU ARE ON THE DOLE. As simple as that. The USA took 9 years to regain the same level of employment as it had prior to the GFC. These elites with high paid secure jobs who are doing it 'tough' because their favorite expensive restaurant is closed saying keep current controls in place and when it comes time the economy will simply 'bounce back' are either clueless or lying (probably a bit of both).
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Brett Mitchell Not for young first time home buyers who have saved hard and purchased something in the past 3 or 4 years. They'll be effectively financially ruined owing more to the banks than the house is worth.
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@Tan Le Man The biggest rort will come from self employed contractors in the building industry. They qualify for Job Keeper. That's right they are the sole employee of their own business. For the past 5? years in the building boom they have been working for $60-100 an hour, cash in hand, paying next to no tax. Now because they can fudge up another set of books to demonstrate their business turnover had dropped 30%, an additional $1500 a fortnight will be given to them (on top of their cash in hand jobs) courtesy of future Australian's who actually pay tax.
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The Premier is the problem. No police commissioner would dare do anything that didn't have the full support or directive of his/her political masters.
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Old saying..... A recession is when your neighbor looses his job, a depression is when you loose yours.
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And coal and nuclear. We have massively more of that.
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The problem is overseas owned companies. Australian owned companies such as the big 4 banks actually paid a LOT of company tax. That's why their dividends paid to shareholders (which you are most likely one even thought may no know it) are fully franked at 30 cents in the dollar. It is actually VERY easy for an overseas owned company to legally transfer profits back to head office and pay any tax in their own country. It is only natural that if say a US company is going to pay tax, they want it paid to the US Government not the Australian government. People flocking to overseas owned Aldi instead of Woolies or Coles, that's an example of the real problem.
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@Tan Le Man They got you fooled on that one. How can being paid by the Government when there is insufficient work to justify your job be anything other than unemployment benefits.
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I'm actually optimistic the Government will quickly be forced to restart the economy, no matter what they say or want. Donald trump is already getting a working party of business people and politicians together to start that process for the US. When the US starts cranking the economy back up the pathetic Australian Federal and State governments will look more stupid than present (if that's possible) and be forced to follow. That's all they've been doing this whole time, just following other countries without a single original thought. That's probably good because whenever they have been required to make an original decision e.g Ruby Princess, they have completely stuffed it up.
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