Here’s more Monday entertainment from The Pascometer who today offers a pretty decent summary of things despite his nuclear smugness. I only disagree on one point. There is no Budget emergency but there is a directive from ratings agencies that the government must aim for surplus “across the cycle”. The straight jacket of budget spending is real, whatever you want to call it, and deficit reduction is not therefore all politics.
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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.
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