Game, set and match. Recessionberg’s disaster is at hand

Thursday, 27 February 2020

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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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.