What a year it’s been.

This time last year Australia was heading into its first recession and deepest recession in decades.

Yet last week the Australian Bureau of Statistics confirmed the strength of Australia’s economic rebound. It was the fastest economic recovery from a recession in 45 years.

In fact, we are one of only three countries where our economy is ahead of where it was at the beginning of the coronavirus pandemic, but today can race and I unpack the statistics and explain what’s going on – the truth behind Australia’s economic recovery.

But don’t worry if you’re not into economics, my chat today with Ken Raiss, Australia’s leading property tax strategist, will be in plain English and we’ll unpack what’s going on so you understand what’s ahead- both the good and some of the headwinds that may slow us down, so that you’ll be able to make a better-informed investment, and financial, and business decisions.

What you’ll be hearing today is a portion of a private webinar we conducted for the attendees of Wealth Retreat to give them some insight before they join us, and while you won’t be able to see the slides, I’m sure our description will be sufficient for you to get benefit from our chat.

Australia’s impressive economic recovery from the COVID-19 recession was confirmed with the strong 1.8 percent rise in March quarter GDP.

This followed unprecedented growth of 3.2 percent in the December quarter and 3.5 percent in the September quarter of 2020.

Our economic output is now higher than it was before the COVID-19 recession hit, with easy monetary policy, booming commodity prices, demand for resources from the rampant Chinese economy, and fiscal policy stimulus all playing a part.

Back in the first three months of this year when we had JobKeeper, enhanced unemployment benefits, and no lockdowns and Australia roared out of recession.

The GDP figures released at the beginning of June, which were for the first quarter of the year up til the end of March were for the months leading up to the end of JobKeeper.

Australians spent, earned, and produced an impressive 1.8%  more than in three months to December, which was itself more 3.2% more than the three months to September, which was itself 3.5% more than the three months before that.

Our growth of more than 8% was the most over three quarters since 1968.

But it followed a collapse in gross domestic product of 7% – by far the worst since the Bureau of Statistics began compiling records in 1959.

The net result over the year to March growth of 1.1%, an extraordinary result which means that, at least until Victoria’s (just extended) lockdown, we were producing, earning, and spending more than before the COVID recession.

I today’s podcast Ken and I discuss:

• what GDP is and why so much fuss is made about it
• Why I think that having a single overriding ‘economic’ health measure such as GDP is flawed
• What’s happening to unemployment, job growth, business, and private expenditure.

Here are 7 reasons to be optimistic about the future.

• Covid vaccines will help in underpinning reopening and recovery
• Global growth is recovering rapidly — driven by vaccines enabling reopening, monetary and fiscal stimulus, and pent-up demand.
• Growth in consumer spending is well supported
• Dwelling investment will provide a strong contribution to growth — the surge in building approvals points to more upside in housing construction this year.
• Business investment is strengthening - — investment plans for the next financial year are up nearly 15% on plans for a year ago which is consistent with high levels of business confidence, excess corporate cash, and the instant asset write-off tax break.
• Fiscal stimulus will continue
• Monetary policy will remain easy
However, there are some headwinds.

Economic growth should continue this year and then could slow next year as some headwinds are revealed, the effects of the fiscal measures start to fade, and the housing market slows down a little.

• further coronavirus outbreaks
• economic ramifications of the international border closure,
• the potential for further lockdowns due to the slow vaccine rollout, and
• the geopolitical risks emanating from Australia’s “strained” relationship with China.

Provided to YouTube by Reprise

Perfect Insanity · Disturbed

Indestructible

℗ 2008 Reprise Records for the U.S. and WEA International Inc. for the world outside the U.S.

Guitar, Producer: Dan Donegan
Co- Producer: David Draiman
Lead Vocals: David Draiman
Bass Guitar: John Moyer
Background Vocals: John Moyer
Assistant Engineer: Justin Wilks
Drums, Percussion, Producer: Mike Wongren
Mixing Engineer: Neal Avron
Mixing Engineer: Nick Fournier
Engineer: Tadpole
Writer: Dan Donegan
Writer: David Draiman
Writer: John Moyer
Writer: Kevin Churko
Writer: Mike Wengren

Auto-generated by YouTube.

Lyrics-

What has come over me?
What madness taken hold of my heart,
To run away
The only answer!
Pulling me away,
To fall upon the night!
The source of my recovery!
Sweet shadow taking hold of the light,
Another day, has been devoured!
Calling me away,
Bringing a question why!

For saving me from all theyve taken,
Let my armor fall again,
Giving me the strength to face them,
Feeling it taking over, now
On a path to take it all away!
There can be no better way of knowing,

In a world beyond controlling,
Are you gonna deny the savior, in front of your eyes?
Stare into the night!
Power beyond containing,
Are you going to remain a slave for,
The rest of your life?
Give into the night!

This self discovery,
Redemption taking hold of my mind,
A serenade of haunting voices,
Calling me away,
To feast upon the night!
The source of my felicity,
Dark maiden taking hold of my hand,
Lead me away,
From hibernation,
Strong and unafraid,
Never a question why!

For saving me from all theyve taken,
Let my armor fall again,
Giving me the strength to face them,
Feeling it taking over, now
On a path to take it all away!
There can be no better way of knowing,

In a world beyond controlling,
Are you gonna deny the savior, in front of your eyes?
Stare into the night!
Power beyond containing,
Are you going to remain a slave for,
The rest of your life?
Give into the night!

Give into the night!

In a world beyond controlling,
Are you gonna deny the savior, in front of your eyes?
Stare into the night!
Power beyond containing,
Are you going to remain a slave for,
The rest of your life?
Give into the night!

Night, night, night,
Give into the night!
Night, night, night,
Give into the night!
Give into the night

*COPYRIGHT*
i am not the owner of this song
this song is from Disturbed's album: Indestructible

Bee Gees
Alone

#BeeGees #Alone

It’s been 24 years since the release of Céline Dion’s “That’s The Way It Is”! ✨

Here’s Céline Dion and *NSYNC performing the song on Céline Dion’s 1999 TV special—“All The Way... A Decade of Song”!


—

#CélineDion #NSYNC #ThatsTheWayItIs

From our 1st Season of Paramount's hit 80s TV series, "SOLID GOLD", enjoy our host, DIONNE WARWICK and BARRY WHITE singing his hit, "NEVER NEVER GONNA GIVE YOU UP", arranged and produced by myself (Solid Gold's musical director and theme composer, Michael Miller - aka "Mickle"). And be sure to enjoy the background vocal stylings of Dionne Warwick, Darlene Love and Eunice Washington! This aired on May 30, 1981.

The members of my band for this clip were:

Joe Kloess - keyboards
Stewart Levin - keyboards
Leaky Valentine - guitar
Harold Alexander - percussion
Wade Short - bass
Greg Warner - drums

Background singers:
Dionne Warwick
Darlene Love
Eunice Peterson

"I'm Coming Out" is a hit single released by Motown singer Diana Ross in 1980, written and produced by Chic members Bernard Edwards and Nile Rodgers for her album diana (1980).

The song was a hit, peaking at number five on the U.S. Pop Singles chart. It is also notable for being the first song usually performed at Ross' performances and concerts since 1980.



**********Lyrics**********

I'm coming out
I'm coming
I'm coming out
I'm coming out
I'm coming out
I'm coming out

I'm coming out
I want the world to know
Got to let it show
I'm coming out
I want the world to know
I got to let it show

There's a new me coming out
And I just had to live
And I wanna give
I'm completely positive
I think this time around
I am gonna do it
Like you never do it
Like you never knew it
Ooh, I'll make it through

The time has come for me
To break out of the shell
I have to shout
That I'm coming out

I'm coming out
I want the world to know
Got to let it show
I'm coming out
I want the world to know
I got to let it show

I'm coming out
I want the world to know
Got to let it show
I'm coming out
I want the world to know
I got to let it show

I've got to show the world
All that I wanna be
And all my billities
Ther's so much more to me
Somehow, I have to make them
Just understand
I got it well in hand
And, oh, how I've planned
I'm spreadin' love
There's no need to fear
And I just feel so glad
Everytime I hear:

I'm coming out
I want the world to know
Got to let it show
I'm coming out
I want the world to know
I got to let it show