Clown Carr trumpets “shadow” boom!

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By Leith van Onselen

The circus troupe has well and truly rolled into town, with Dad’s Army’s “Mad” Adam Carr joining forces with Treasurer Joe Hockey to attack us “simpleton” doomsayers:

As good as it was to see a strong quarter of growth in the GDP numbers, the fact remains that on an annual basis growth was still a measly 2.3 per cent. Detractors point to that and the alleged drop in national income to paint a predictably negative picture of the economy and how it’s still weak, which would be a huge worry if it wasn’t the stuff of pure fantasy.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.