Sunday, November 30, 2008

Two more excellent quotes from Tim Colebatch

"Treasury's latest forecast, released on November 5, implied that the worst financial meltdown since the Great Depression will do no more damage to Australia than the introduction of the GST. Sure, guys, whatever you say."

"It's the job of central banks to keep economies growing and on track. It's the job of commentators to tell the truth, to give readers information that is accurate, timely and relevant."

It's here.


Anonymous said...

I do not understand how Aust can go into recession.

There are 330,000 plus credit card wheelding immigrants entering the country in the next 12 months plus an unspecified number of overseas students who will line up for onshore visa application.

That is a lot of demand - clothes, cars, petrol, rental or home purchases, holidays and food, services and utilities.

How can GDP not increase?

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