If you were an alien that landed in Australia you could be forgiven for thinking that we were in the midst of a terrible recession or major disaster by the ‘doom and gloom’ sentiment that seems to be hanging over our economy like a wet blanket.
Of course, it is natural for all economies to go through ups and downs, but after 22 years of continuous economic growth we seem to have forgotten how to deal with the down swing. But how much of a down swing are we actually experiencing right now? Our current economic growth rate is still 3.5%. Even with the GFC we managed to get through relatively unscathed. Sure there were various sectors that rose and fell, however overall there was still growth. And those of you who don’t believe me still take a look at the last reporting season for … read more by subscribing.
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