29 March 2024
1300 794 893
AAP Image/Erik Anderson

5 things you need to know today

Switzer Daily
27 October 2020

1. “What are Victorians smoking?”

That has to be the question from Australians from other states with the latest Ipsos poll leading to The Age’s Jewel Topsfield writing: “Support for Premier Daniel Andrews remains solid, with just over half of Victorians backing his handling of the coronavirus pandemic despite months of tough lockdown restrictions and criticism over the failed hotel quarantine program.”

But how do they ignore the deaths in their state shown on this table?

Andrews supporters blame Federal failures in aged care but you have to ask why that ‘failed policy’ worked OK in every other state? Hmmm.

2. Biden is a Tweeter too

Bloomberg is underlining Joe Biden’s perception with a story picked up by the AFR which says: “A tweet sent by US Democratic presidential nominee Joe Biden warning about a pandemic was trending on Twitter on Sunday US time, the one-year anniversary of the post.” "We are not prepared for a pandemic," Biden tweeted on October 25, last year, saying the country needs leadership that "mobilizes the world to stop outbreaks before they reach our shores".

This was before COVID-19 raised its ugly head in Wuhan, which seems like a big call by Joe. I suspect Joe’s hitherto unseen greatness is bound to come to the fore over the next week and many media outlets will do as Bob Dylan sang in his huge hit Hurricane “and the newspapers, they all went along for the ride.”

3. A Shecession Shock

The BBC says the Poms are in a ‘shecession’ with the country in the worst recession since the Great Depression. “One of the unique aspects of the current recession is the way it’s impacting women: though men are more likely to die of COVID-19, the pandemic’s toll on employment is heavier for women,” the broadcaster’s Christine Ro reports. “Unlike other modern recessions, the pandemic recession has to more job losses for women than men.’

Why? The lockdowns and restrictions effect hits hospitality and retail sectors the most, which has a higher proportion of women employed.

Albo called it a “pink recession” but linking pink to women looks a little sexist nowadays! How Labor missed this is surprising.

4. ASIC boss on death row

The Australian’s Richard Gluyas says the “ASIC chairman James Shipton is hanging on to his job by a thread…” The boss of the organisation that has the job to make sure companies behave in relation to shareholders and customers has been accused of using taxpayers money for what should have been covered by his own money.

The SMH says “Taxpayers paid almost $120,000 to cover his tax affairs despite the initial approved cost being just over $4000.”

Mr Shipton claimed $118,557 for two years' worth of tax returns in 2017 and 2018. He has since agreed to repay the amount. His deputy recently resigned after being accused of a problem with his compensation for  expenses.

5. Down day for the Dow

The Dow Jones has begun the week 650.19 points or 2.29% lower to close at 27,685.38, the worst day for the index since September 3 according to CNBC. The S&P 500 dropped 64.42 points or 1.86% to 3,400.97 and the Nasdaq fell 189.34 points or 1.64% to 11,358.94.

Comments
Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
Subscribe
1300 794 893
© 2006-2021 Switzer. All Rights Reserved. Australian Financial Services Licence Number 286531. 
shopping-cartphoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram