The Kouk puts lipstick on Aussie pig economy

Advertisement

In the Bizarro World of Stephen Koukoulas (‘The Kouk’), the Australian economy was “verging on strong” prior to the bushfires and “when the smoke clears, the Australian economy will be looking strong”:

From the second half of 2020, the net effect on GDP from the fires will be positive as the rebuilding of dwellings, commercial real estate, infrastructure and the replacement of durable items (furniture, white goods, cars, and the like) feed into additional spending.

After a lull, tourists are certain to visit their favourite destinations, even those impacted so badly by the fires.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.