Recessionberg: My economic plan is stupid

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If it didn’t matter so much it would be amusing watching L-plate Treasurer Josh Recessionberg make no sense, via the AFR:

Treasurer John Frydenberg has endorsed Future Fund chairman Peter Costello’s call that further interest rates cuts won’t boost the economy all that much and insisted the government is developing a productivity agenda.

“Peter Costello is absolutely right that it’s a law of diminishing returns once you start to reduce interest rates below a certain amount, the impact on the economy is reduced,” Mr Frydenberg said on Friday.

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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.