For 18 months now we have warned that L-plate Treasurer Josh Recessionberg is much more at home on the tennis court than he is at the controls of an economy. Now the consequences of his misshapen economic backhand are clear.
The key blunder of Treasurer Recessionberg has been to choke public investment hard during a private sector deleveraging that has staggered domestic demand.
This became apparent yesterday with the release of December quarter construction numbers that show public investment falling away just as private does so (note that enigeeering is dominated by public):
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