Australia is entering its third recession in thirty years

Thursday 6 December 2018

Not the stupid recession that the pet shop galahs love so much. The real kind. Growth per capita and income per capita.

Yesterday’s GDP was awful. Household income is getting killed:

We’ve been in the income recession almost continuously for six years and it is intensifying. This is despite the what used to thought of as the be all and end all of national income, the terms of trade, soaring:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.