Recessions are capitalism’s ways of correcting the imbalances that expanding economies ferment. Australia’s 25-year expansion has allowed two debt-based distortions to fest. These debt blowouts will be paramount in deciding how Australia’s economy performs in coming years. The threat posed by these imbalances, however, is contentious. One way to express how these debt excesses might hamper Australia’s economy is to frame their likely jolt in a mighty understatement. We discuss the potential implications in “A massive understatement about Australia’s economic outlook”. (VIEW LINK)
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