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Well I think history shows us it will still bounce back fast mate after we hit the bottom, look at Coles for example advertising 2 x 5k jobs. Maybe there won’t be as many small businesses there might be a shift toward PAYG but the government has already announced the first round of stimulus packages and we haven’t got to the worst yet. The government still has a few leavers to pull.This will be different from previous downturns. Many small businesses, and people who lost their jobs, won't have the money to just bounce back, and this will slow the recovery. Money will only be spent on essentials while people wait for things to recover, and look for jobs that will be harder to find with fewer companies surviving.
Much depends on what money the government will give to welfare to get things up and running quickly - otherwise, we are looking at a dreary economy for a long time.
I think there will be plenty of money floating around mainly due to government grants and the issue then will be inflation as the value of the dollar will drop.
This is not the first pandemic I encourage you to read a bit more around the Spanish flu in the 1920s if you are worried the economy won’t bounce back. There is the Great Depression and also more recently the GFC.
One thing that will happen undoubtedly is some industries will shrink and others will get bigger, Australia will place greater emphasis on localisation and you will see the growth of some emerging economies around the world as other countries move away from relying on China where possible.
Look I’m not an economist I just read a lot and that’s my opinion.