Grenville: Ignore ratings agencies and spend!

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At the AFR, monetary curmudgeon Stephen Grneville is making sense:

Rating agency Standard and Poors has just issued its usual finger-wagging warning to Australia about the dangers of budget deficits.

…The issue of the moment, however, is what to do about an economy which is performing well enough, but growing just a little too slowly to get unemployment down to its full-employment level, or to push inflation up to the RBA target.

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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.