I think the RBA’s done the right thing – yes, GDP (output or “suuply” only rose 1.5% over 2004 but demand rose 4.1%. The gov’t has been busily stoking demand whilst ignoring the supply side, and now it (and borrowers) will pay the price.Did you notice from today’s data that productivity growth turned negative during 2004?
Has the RBA done the right thing?
I think the RBA’s done the right thing – yes, GDP (output or “suuply” only rose 1.5% over 2004 but demand rose 4.1%. The gov’t has been busily stoking demand whilst ignoring the supply side, and now it (and borrowers) will pay the price.Did you notice from today’s data that productivity growth turned negative during […]
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