billy blog ... some alternative economic thinking

Today the ABS released the June quarter National Accounts data for Australia and confirmed that the Government's attempt to hard sell the proposition tha they are sound economic managers is falling apart. The data reveals a sharp contraction in economic activity with an annual June-June growth rate of 1.9 per cent (0.3 per cent in June quarter 2006), almost half the rate expected by the markets which have been spoon fed too much mis-placed optimism by the Federal Government.

In the June quarter businesses have been running down inventory rather than producing such is the state  More ...