Australia heads into pro-cyclical accident

Wednesday, 29 September 2021

I have been warning about this for the last six months or so. 2022 is not shaping well for the Australian economy.

We’ll be reopening and that’s a big positive but it will be troubled as it takes time for households to adjust to the new normal of endemic illness.

Moreover, a series of shocks this way comes.

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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.