Oh dear, is it just me, or did I wake up today and sentiment is following what I have been saying for quite some time. It makes for some entertaining, possibly depressing if you have had your head in the sand like an emu and are not prepared, reading.
Let me see:
Let me see:
- 'The recession we're already in' by ABC business reporter David Taylor: http://www.abc.net.au/news/2016-12-13/the-recession-we-are-already-in/8113052
- 'The day the Australian economy ran out of luck' by The Guardian's Greg Jericho written a few days ago, after a dip in GDP: https://www.theguardian.com/business/grogonomics/2016/dec/08/the-day-the-australian-economy-ran-out-of-luck-if-only-temporarily
- If you check, after I publish this in a few minutes, you will find the article headlining The Age online 'Drop in consumer confidence "raises concern" ' An understated headline if ever I saw it, published minutes ago.
- Headlines in the business section of the SMH online include 'CBA lifts variable rates for property investors' and 'Business conditions drop, consumer confidence dives'
- Six days ago, Reuters published this cheery missive, 'Australian economy slams into reverse' with this excerpt telling you the basics, :"Australia's economy shrank last quarter as businesses, consumers and government all cut back on spending, a shock result that threatens both the first recession in a quarter of a century and the country's vaunted triple-A credit rating." For more reading the article can be found here: http://in.reuters.com/article/australia-economy-gdp- it INKBN13W0BO
Like I said yesterday, it's all good news until it isn't. Once the evidence is overwhelming and can be ignored no longer sentiment appears to change overnight.