Bullhawks retreat into fantasy

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He’s cut his “two more two more rate hikes” outlook but bullhawk Warren Hogan continues to screech.

At the always backward looking AFR.

To repeat the analysis that I have shared before – the economy has fundamentally changed over the last five years. The underlying balance of supply and demand has shifted. After 50 years of rising relative labour supply, the demographic cycle has turned 180 degrees, and we now have excess demand.

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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.