Australia is in economic recession. A 0.3% contraction in economic activity measured in GDP terms.
I remember when I was 16, having to get up in June at 5:00am for work start at 7:30, to have breakfast, shower, shave, etcetera, then catch a bus – I was 16 remember – It was ferking cold. I distinctly remember standing at the bus stop, shivering. I remember the winds in July-August howling through the concrete canyons of the city, bitterly cold. That was 1973, so 47 years ago. I wonder these days where those winters have gone. I have vivid memories of living in Cairns, 1976 to 1979. Wonderful place, much smaller than it is today. […]
I don’t write much here anymore basically because I feel that my voice is just another of the many whispers lost in the rabble of overtly right-wing conservative shouting about neo-liberalistic idealism. What’s the point, right? However, once in a while I get a bee under my bonnet. The current bee has been disturbed & set a-buzz by coverage on the ABC – that’s the AUSTRALIAN Broadcasting Corporation, myABC if you will – about this piece of legislation currently in the Senate. The Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018. This legislation seeks, according to government propaganda, to […]
Have a read of this article on the ABC news site, and ask yourself just why the RBA cut the cash rate today to 2.25%, an historical low.
I will rarely promote the works of another blogger, basically because there are very few pieces of writing in the ‘sphere I regard as worth promoting. This piece, however, runs counter to my usually jaundiced opinion of the amateur journalist cadre. Glenn Murray may consider his tome to be just his ramblings, but I find this particular ramble well worth supporting. Kudos, Mr Murray!
How is it possible for a nation’s economic structure and four year outlook to fall off a cliff in six months?