Wednesday 24 April 2013

Herndon, Colbert and Abbott.

or, the Recession we Didn't Have to Have

h/t Mike Norman Economics
link to the same video 

These guys may have spoken about Reinhart and Rogoff, but I'll have to admit, they never said a word about the Grattan report in the Colbert Report...


One who never fails to mention the important things is the next Australian prime minister, Tony Abbott.

Speaking last night with Leigh Sales (7.30 Report, ABC), the Liberal/National Coalition leader (conservative, centre-right, libertarian) made sure the viewers understood his stance about the surplus and that he is up-to-date with S&P expert assessments of the Australian economy:

"Our triple A credit rating is at risk if there's not a path back to surplus, and frankly, everything right now, Leigh, has to be tested against that framework: how is it going to help us get back to surplus? How is it gonna make our economy more productive?" (See here, my translation from Australian)
In a 13 minute interview, Abbott mentioned "SORE-plus" eight times... Phew! I feel better now that I know "good" economic management is on its way...


Incidentally, according to this site, the Moon is currently 99% full.


Are we heading to the recession we didn't have to have? The Abbott Recession?

05-05-2013 As the video originally linked to here was removed by its poster, I added a link to the same video, but posted under a different account.

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