Welcome to the last bender for the great Australian current account deficit growth model. Our hosts for the year are DJs Glenn and Tony and they are on it!
DJ Glenn made it clear on Friday that he’ll be pouring the punch until the bowl is empty:
Reserve Bank of Australia governor Glenn Stevens has conceded he is worried by the Sydney property market, but opted to ignore that risk by cutting the official cash rate last week because the economy’s recovery is “unconvincing.”
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.
