What a difference two months can make in hard-nosed, informed assessment of the state of the domestic economy:
October 4-5, editorial:
November 11:
November 15-16:
November 22-23:
December 4:
Presumably that’s why they call it the Financial “Review”, because, you know, everything’s always under consideration.
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It’s all complete bollocks of course. There was never a mining boom, we were in deficit for 72 months on trade so there is no way that we were actually making the money claimed.
Our foreign debt alone has blown out to $680 billion so how can a boom in cash possibly exist. Trouble is all our pundits feed off each other and almost none bother to actually analyse.
Howard was not a great economic manager because government’s don’t actually manage any part of the budget except doling out taxes raised to the states and welfare recipients.
During the worst drought in 100 years there were no crops much to speak of, but those farmers who had them didn’t mind the massive profits while 1 billion people had no food.
All that has happened here is that the idle rich have stopped going to the gym so much, stopped having the false nails done and cut back on stupid wasteful spending.
Gawd, anyone would think that we are all floundering around on the streets gasping for a drink and dying of starvation the way these bloviators and talking heads carry on.
The reality is that nothing much has changed, it is just that the truth has shown up what a pack of cards and fantasy land we have been living in.