When the economy is toast
‘If your costs are the same but your revenue is rising, times aren’t too bad’
“What’s going on with the sharemarket? The economy is toast and we have a 7% rise?!” That WhatsApp message came through to me in late March from a friend who’s no dummy. He’s had a successful career in finance and now runs a small business. Or, at least, he did until it was recently closed, a victim of the Covid-19 recession.
I use the term “recession” with confidence, despite the economic measures that will make it official not being available yet. Two consecutive quarters of economic shrinkage (the technical definition) seem all but impossible for Australia to avoid in
