- The Australian economy rose 0.7% in seasonally adjusted chain volume measures
- GDP rose 1.4% in 2020-21
- The terms of trade rose 7.0%
- Household saving ratio decreased to 9.7% from 11.6%
So I’m no economist and there’s people around these parts more in the know than me. But figured with all the satire it would be good to have some talk around the economy rather than sign up for another fake username at that other website.
Australia dodges recession and how good is iron ore! These numbers don’t take in Sydney lockdown so next quarter is going to be interesting. With a federal election looming will our fearless leader Scotty call it early? What levers will they pull next to steer us away from a dreaded double dip recession?
Frydenborg has had a recent shift in narrative to “we must open up” and it’s clear they are worried about the budget. Do you think we will go to NIRP? The surviving small businesses that have lasted 6 lockdowns are really feeling the pinch. I don’t know how a lot of them are surviving especially hospo or tourism. I’m surprised they haven’t had another raid on super yet.
What other levers do you think they will pull? and what are you doing with investments?