Don't spook the horses

This morning BREE released a half -yearly document that poses some very serious questions about Australian economic prospects. It’s forecasts for a fall in the mining investment pipeline from $268 billion today to $70 billion in 2017 is, being kind, a bit of a concern.

Yet neither the AFR nor BS has even reported it, let alone discussed it, though The OZ has managed a small story. They’re busy splitting hairs over a surplus that has zero chance of ever becoming a reality.

This could be for a number of reasons:

political bias: they do not want to see any tough questions thrown at Tony’s boys
punter bias: don’t want to spook the horses
media model bias: they reckon only happy news sells
they’re inept

Take your pick.

Share

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.

Don’t spook the horses