Let me start with this sage piece of advice from Henry in the previous post:
No sensible purpose is served by the facile criticism of the administration that increasingly pervades the Australian media, and the equally facile questioning of the alliance that invariably accompanies it. For these issues are deadly serious; unless they are treated seriously, the consequences will be deadly too.
And then there’s this from Instapundit to bear in mind.
ADHERING TO LENIN’S “THE WORSE, THE BETTER” DICTUM: Recession Warnings Music to the Ears of Democrats.
66Posted at 2:13 pm by Stephen Green
And today from the front page of The Australian: Global recession warnings as sharemarkets sink.
Which follows on this from The Economist: Markets in an Age of Anxiety, which begins:
|Financial markets are often accused of complacency. However, the mood just now is not complacency but anxiety. And it is deepening by the day. In Germany interest rates are negative all the way from overnight deposits to 30-year bonds. In Switzerland negative yields extend right up to 50-year bonds. In America, meanwhile, interest rates on ten-year bonds are lower than on three-month bills—a harbinger of recession. Angst is evident elsewhere, too. The safe-haven dollar is up against many other currencies. Gold is at a six-year high. Copper prices, a proxy for industrial health, are down sharply. Despite Iran’s seizure of oil tankers in the Gulf, oil prices have sunk to below $60 a barrel. Plenty of people fear that these strange signals portend a global recession. Yet a recession is so far a fear, not a reality. The true problem is that firms and markets are struggling to get to grips with uncertainty. And that is the result of the trade war between America and China.|
Artificially low interest rates are as sure a way to cause an economy to stall as I can think of. That along with vast oceans of unproductive public spending.
JUST FOUND THIS TO ADD TO THE ABOVE: Drive-By Media Hell-Bent on Talking Us Into a Recession. It’s from Rush Limbaugh.
MEANWHILE: Starts about 15 minutes in.