Australia’s ability to “flatten the curve” amidst this once-in-a-century pandemic appears extraordinary. Against numerous epidemiological forecasts of a healthcare calamity, including overflowing ICUs and thousands of deaths, it appears the spread of COVID-19 has been largely contained. The economic cost, however, has been extraordinarily large and continues to grow. The true unemployment rate may already be in the double-digits and many tens of thousands of small businesses will likely close when all is said and done.
Some are asking was it all worth it? If COVID-19 was not as bad as the forecasters led us to believe, did we need to impair the economy the way we did?
Read the full article on Montaka's website here.
Andrew Macken is a 2019 Conference Fund Manager