billy blog ... some alternative economic thinking

The credit-fuelled household spending spree that has helped the Australian economy continue to achieve economic growth in the face of the massive fiscal drag (negative contribution) from the Federal Budget surpluses is starting to slow. The latest ABS data for September released today shows that retail trade increased by just 0.1 per cent. The August figure has been revised downward to 0.2 per cent. The markets apparently were not expecting this (having factored in 0.5).

What does it mean? Well with households straining under record levels of indebtedness and their major asset now  More ...