Hockey slams “recession clowns”

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From our mighty Treasurer via The Guardian, I might as well get the obligatory boots into MB over with:

I’m not going to give commentary on commentary. We’ve had a terrific set of numbers that came out today and those numbers have proven that there are some clowns out there that are talking about recession and dark clouds on the horizon. There have been proven to be looking foolish, those people, and we should be focussing on what is before us which is raw data that says the Australian economy is in the last quarter one of the fastest growing economies in the developed world. How good is that?

It’s good except GDP is a very tepid 2.3%, we’re in an income recession and standards of living are falling. But thanks for reading, Joe, hopefully you’ll take something in soon.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.