This was always the great danger for the post-GFC world: that debt-laden governments, led by the US, would have to start cutting fiscal deficits before their economies reached escape velocity.
Recession fears
Gittins: Economists are crap at predicting the future
This time last year economists predicted an Australian economic meltdown. Instead we had a blink and you missed it crisis. Yet we still keep listening to economists’ forecasts. Why the clueless obsession with the future? asks Ross Gittins.
2009: The year of The Great Stabilisation
Rather than 2009 turning into the year of the Great Recession, the biggest financial news was our ability to avoid global catastrophe and stabilise our economies. But there was some collateral damage. Like, lots of unemployed people…
The fiscal massacre that laid the Rudd agenda to rest
Turns out we missed the opportunity to invest the proceeds of the mining boom and we’ll have to wait until the Rise of China and India Part II reaches these shores several years hence, writes Bernard Keane.
Talk of recession as Swan fumbles the figures
Treasurer Wayne Swan refused to rule out a brief recession in coming months in releasing Treasury’s Mid-Year Economic Forecasts this morning, writes Bernard Keane.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
