Remaining bullish

Congratulations to the Abbott government on achieving 0.2% economic growth last quarter. Thanks to the fiscal brilliance of Joe Hockey we came in just behind economic power house Greece (0.9%).

Smokin’ Joe claims this result is in line with the government's overarching expectation. Given we’re now experiencing the worst nominal growth figures since 1961 I assume he means the government’s overarching expectation of dragging this country back to the 1950’s.

Despite overseeing the worst unemployment rate in 20 years, the worst terms of trade since the 1950s and the biggest drop in the Australian dollar since the GFC, Hockey remains blissfully optimistic.

“I remain more bullish about the region and the global economy than others.”

Others in this case being economists, the Reserve Bank and anyone else who has more of a clue than Joe about how this economy thingy works.

Commenting on this Blog entry will be automatically closed on November 3, 2015.

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