On the 6th December 2012 I wrote:
"Finally the truth is out about the Australian economy: it is in recession. The real world has been telling us this for a year, but the Australian Government and much of the media has been hiding behind mining activity skewed aggregate GDP data. Could be good for some borrowers, but those that are worried about security of employment will not want to become even more indebted. Add to this the fiscal contraction from governments at all levels, and 2013 will be horrible for many people".
I copped considerable criticism for this view actually.
Interesting then that in the Australian Financial Review of the 22nd May 2013, the Secretary to the Australian Treasury Dr Martin Parkinson finally states "conditions in the non-resources sector have been not much better than the recessionary days of the early 1990's".
Hallelujah! Although he is wrong. They are worse. I was there and founded my previous business in 1991. That became very successful over its 19 year lifespan.
It is a tragedy that the leaders of the country are not being open and honest with the people, and when they are, then they are very late in admitting it. Probably the real truth will come out after the September election in Australia. The damage is already being done.
Dr Parkinson used to run the Australian Department of Climate Change.
Its an informative topic. It help me very much to the best! I am very much! Looking forward to another great blog. Its an informative topic. dissertation consulting services
ReplyDeleteIt help all the best! I am very much! Looking forward to solve some problems. Its opportunity are so speedy. I am very much! Looking forward to solve some problems. Its opportunity are so speedy. I am very enjoyed for enjoying this beauty blog with me. I think it very enjoyed for enjoying this blog. Good luck to another great blog. Its an informative topic.