A sobering message from CIS. Wake up Australia!

Our economy has been described as “the wonder down under” but complacency rules and chaos beckons under Green/CFMEU administration.

A glance at the table of economic and financial indicators at the back of The Economist shows Australia leading the pack of advanced countries in GDP growth, and this has been the case for many years. However, our population growth is also leading the pack, and in per capita terms our growth rate is now unexceptional.

GDP is also an overarching indicator that conceals as much as it reveals. For example: household consumption spending is robust, but how long can this continue on the back of a falling saving rate and world-beating household debt levels? Meanwhile, business investment is weak.

The reality is that Australia’s performance looks good in the rear view mirror, but there are good reasons to be concerned about the road ahead.

The careless reference to gross GDP rather than GDP per capita is particularly stupid or deliberately misleading. GDP as an indicator is fragile at the best of times, for example the extra petrol burned by cars stuck bumper to bumper in traffic jams counts as an addition to the GDP as does expenditure on electricity.

As for our prime position on the Economic Freedom Index, recall the piece by William Coleman in (possibly) the last Policy savaging the rating with his perception of the state of business affairs in the nation.

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5 Responses to A sobering message from CIS. Wake up Australia!

  1. max

    Government Spending in Australia increased to 85568 AUD Million in the second quarter of 2018 from 9294 AUD Million in the second quarter of 1960.
    https://tradingeconomics.com/australia/government-spending

    External Debt in Australia increased to 2 045 588 AUD Million in the second quarter of 2018 from a 147 312 AUD Million in the third quarter of 1988.
    https://tradingeconomics.com/australia/external-debt

    Household Debt:
    1.9 trillion
    http://www.australiandebtclock.com.au/

  2. Bruce of Newcastle

    The Economist is full on green-left now.

    The Oz has a reprinted Economist article today titled on their main webpage “Why whiteness is a winner”. It is such a pack of utterly repulsive and disgusting lies that I feel soiled to have read it. Here’s the original, which is accessible without paywall.

    It’s damning that The Australian chose to reprint this vile and mendacious article.

    Sorry, somewhat OT, but entirely illustrative of the foul hole that The Economist has fallen into. I hope they go bankrupt.

  3. Critical Mass

    Hi Bruce of Newcastle

    Have just read the article in “The Economist” to which you refer. You are spot on.

    My only quibble with your comment is that I think you are being too generous in ascribing a notion of ethics to the writer of this article, with the use of such words as “mendacious” and “lies”.

    The article is loony and bizarre and so detached from actuality that it is insane.

    Here we are in the Twilight Zone.

  4. md

    As soon as you read anything about the so-called ‘wonder down under’ that doesn’t attribute the economy’s overall performance (not individual financial well-being, note) to the mass immigration Ponzi scheme and to digging up dirt and shipping it overseas, you know that it doesn’t warrant any further consideration.

  5. Squirrel

    “The reality is that Australia’s performance looks good in the rear view mirror, but there are good reasons to be concerned about the road ahead. ”

    Precisely – the next one might be a good election to lose.

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