Thursday, June 04, 2009

Just a note on the economy

My apologies to those whose emails I have yet to answer. For reasons I won't bore you with, I have difficulty in accessing my email during the day just at present. Then my time at night and in the early morning is presently also very squeezed.

I have a part completed post on the latest Australian national accounts figures that I hope to bring up tonight. The fact that Australia recorded positive growth in the March quarter has received considerable coverage in the local media. The problem is, and a number of commentators have pointed this out, that the obsession with whether or not Australia is in a "technical recession" tends to blind us to other issues.

When I first started writing again on the economy after the global financial crash I knew what I didn't know. This led me to focus on what I saw as the fundamentals, trying to explain things to myself and, hopefully, others. This proved quite powerful because it forced me to stand back from the short term detail.

I think I have lost this to a degree in that I too have started to be caught in the day to day. So time for some more reflection.  

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