On Thu, 02 Feb 2006 21:22:56 +1100, B J Foster
You're telling me the sun rises in the east.
The Hawke-Keating-Walsh program has nearly run its course.The economy has filled back up with poo and its comming out in the productivity growth numbers.If you replace the mbuttaged hedonics figures and a few other over-abused methodologies, inflation and GDP growth arent a poo hot set of figures either.That's why the Reserve and any serious economist that doesnt work for ticket clippers are worried.Its certainly not the end of the world, but its a f***ed up position to be in when we're staring down the barrel of labour shortages, while in the middle of a commodity boom AND facing the end of an era of unusally low global interest rates.Let alone a sharemarket that will be chasing yields because of demographics and the inevitable rebalancing of housing stock in the face of more normal pricing of debt.
Anyway, I think we're both preaching to the converted here.
This government has been little more than a decade of missed opportunities and counterproductive long term economic policy.
It always comes out in the wash.Last time it took 25 years to do that.This time, it wont take that long.
