The numbers portray a strengthening Australian economy. Unfortunately, the truth is far darker than the GDP fiction…
It is productivity that makes a worker’s time valuable. Everything else — including high walls and trade war bamboozles — is claptrap.
Fantasy Island is a paradise in the Pacific Ocean. The island’s GDP output is $500k. There is no debt. One day, a fellow calling himself Charles arrived on the shores of Fantasy Island.
Last week, we gave you two reasons why the government’s GDP numbers are fraudulent. They pretend to track real growth and prosperity. But IMF chief Christine Lagarde pointed out that you could raise GDP by…
Make-believe employment numbers create a make-believe world. One that deludes us into thinking our economy is a miracle…when in fact it’s a mirage.
At some point, investors must realise that without continued debt accumulation, the illusion will be over. When that happens, markets will cannibalise themselves. The bursting of the greatest credit bubble in history is going to…
When people earn less, they pass less in taxes. A decline in tax receipts means that something real is happening in the economy.
Whether the Aussie dollar is on the verge of bursting through to new highs, or merely flitting higher before a catastrophic fall, comes down to two things.
Apparently tacking on an extra $5.3 million in debt every hour isn’t sufficient. At least not according to RBA governor Philip Lowe.
The Dow Jones is up 20 times since 1980. So is the US national debt. Debt feeds the stock market and the swamp.
Australians have simply gone deeper and deeper into debt. The combination of rising wages and falling interest rates is the ‘secret’ of our economic success.
A man who recycles tobacco sticks — and spends no money in the process — is a sinner; he is practically committing an act of economic sabotage.
The stock market will only collapse when inflation gets out of hand and central banks belatedly try to raise interest rates quickly to bring things under control.
Like water sifting through a hole in a dam, debt levels to GDP around the world have been increasing exponentially.