Australia’s Econ­omy is a House of Cards

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By Matt Bar­rie & Craig Tin­dale.

I recently watched the fed­eral trea­surer, Scott Mor­ri­son, proudly pro­claim that Aus­tralia was in “sur­pris­ingly good shape”. Indeed, Aus­tralia has just snatched the world record from the Nether­lands, achiev­ing its 104th quar­ter of growth with­out a reces­sion, mak­ing this achieve­ment the longest streak for any OECD coun­try since 1970.

Aus­tralian GDP growth has been trend­ing down for over forty years
Source: 
Trad­ing Eco­nom­ics, ABS

I was pretty shocked at the com­pla­cency, because after twenty six years of eco­nomic expan­sion, the coun­try has very lit­tle to show for it.

Excel­lent Switzer inter­view on Sky News Aus­tralia

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I have just been inter­viewed by Peter Switzer on the Switzer show on Sky News Aus­tralia. Peter inter­viewed me for over 15 min­utes, which allowed plenty of time to dis­cuss such things as:

Aus­tralian Debt Update

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Click here for this post as a PDF

I’ve been work­ing on the sec­ond edi­tion of Debunk­ing Eco­nom­ics for the last three months, and I’m now flat out try­ing to fin­ish the first draft by the end of March—hence the paucity of posts recently. How­ever the lat­est Aus­tralian GDP fig­ures came out this week, and this has enabled me to update the Credit Impulse data for Aus­tralia, which has impli­ca­tions for both employ­ment and asset prices—and espe­cially house prices.