Last week’s national accounts release for the December quarter confirmed that Australia’s FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – continues bleeding its host, with its share of the Australian economy rebounding to an equal record high 11.8%:
Since financial markets were first deregulated in the mid-1980s, the FIRE sector has grown at roughly twice the pace of the rest of the economy, sucking the life out of the productive sector:
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