Owen Raskovich

speaker

6,765 appearances 21 recordings 1 series first heard Mar 2019 last heard May 2020

Owen Raskovich’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Season 2: Coronavirus and prepping finances for... a recession? · 12 Mar 2020 podcast

So 4%, you can count that on one hand, of GDP for the world.

So gross domestic product.

Think about everything that's created in the world.

They accounted for about 4% of it.

right?

But now it's over 16%.

So 2020, 2019, 2020, China is 16% of the global economy.

And it is where this problem started.

And as of the date of this recording, which is early to mid-March, it is still the most deeply affected country and place on the planet for coronavirus.

So naturally, you're going to have a flow on effect, right?

We're going to have

um these manufacturing sites in china saying we're going to halt production of x y and z uh widgets so it might be you know we're not going to create any more uh phones or we're not going to create any more cups or plates or lamps or whatever it is that they make at their factories they're not going to do that because they need to keep everyone quarantined and in a safe space so we might not see this immediately here in australia although arguably we are seeing this already

you might still be able to go to the supermarket and buy something because there's inventory on those shelves or there were ships already sailing by the time this broke out, right?

So it may take a few months.

So what we're seeing now might not be necessarily the worst of the shortage in supply of these types of inputs to our lives.

Another thing that we've come across is we've already started to see things like travel being restricted, right?

Qantas is a company that's listed on the stock exchange, so you can go in and you can read their media releases and their files on your brokerage account.

And I read one update from Qantas this week, which said that they're cutting international flights for the next six months.

So they've already seen a significant drop

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