The Great Reckoning Begins

25 Feb

A must-read article by the Business Spectator and ABC finance commentator, Alan Kohler:

Ken Henry and David Gruen of Treasury should spend less time sneering at Barnaby Joyce and more time contemplating the unfolding calamity in Europe, and coming to grips with what’s really going on in Australia.

As I explain below, Australia’s debt-funded fiscal stimulus is double what was announced and is only half-spent. In other words, the government is still in stimulus mode while interest rates are going up and unemployment is falling.

If you do not wish to register with the Business Spectator’s website to read the entire article, it is reproduced in full here.

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