RBA Governor, Glenn Stevens’, interview with The AFR contained the below tidbit whereby he slammed those of us who argued Australia is suffering from an “income recession”, claiming that we are painting an incorrect picture of the Australian economy:
AFR: Is there a sense that, with nominal GDP not growing and the income measures so weak, that the pie here is – notwithstanding what happens to the exchange rate and any substitution – not growing here any more? And that people now are squabbling over a pie that’s not growing?