Peter Dutton stokes fear of recession in response to Trump tariffs

“The treasurer is talking about a reduction of 50 points of interest rates, which obviously means that it sees an incoming recession for our economy.”

With that performance, Dutton has disqualified from the Alto Office. He was a minister of the cabinet for decades, but he has not yet learned-o he does not interest people at the top do not use the word r until the numbers actually on the Council leave them choice.

He doesn’t know; While the individual commentators like me can say what they want without anyone taking a lot of notice, when people in the office have speculated on the probability of recession, the trust is further damaged, which risks making their predictions that self -test.

Despite his Bachelor of Economics, Anthony Albanese has taken little interest in the economy, but at least he knows what not to say. Dutton’s problem is its Superman complex. It is seen as responsible for the rescue from the growing tide of crime and pestilence that besiege us.

His powers allow him to see what we cannot: the African bands in roaming holding the melburians trapped in their homes; Women in supermarkets with Machete are kept in the throat.

This is how he knows he can make an agreement with Trump that the Albanians cannot; It can save us from the recession that is inevitable under Albanian. He doesn’t need to know the details of the economy because he has Kryptonite to do his heavy lifting.

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Note that the shadow treasurer of Dutton, Angus Taylor, did not join him in his fear. Taylor is a qualified economist of good reputation. His problem is that, having not served an apprenticeship in a minister’s office, he cannot play politics at a professional standard. He cannot say lies with a serious face.

He would not have resorted to the confused Dutton thought used to justify the band of the word R. Dutton thinks that the selfish forecast of chalmers of imminent cuts at the interest rate is proof that a recession is coming. It does not occur to Superman that, if the rates were cut abruptly, the goal would be to prevent a recession. Are you insinuating that it could prevent the recession without cutting the rates?

It is true that, thanks in part to high rates (but also a previous decrease in real wages and a huge criminal creep), consumer spending was weak, therefore only a strong growth in the population has maintained the gross domestic product to fight. Many said this means that we suffered from “Recession per person” In the last two years.

But we become real. And we do not hurt the monetary market and the absurdities promoted by the media that two subsequent quarterly falls in the real GDP are a “technical” recession. Why do sensible people live in the fear of recessions and responsible political leaders never use the word r until they have to?

Well, it’s not because GDP has decreased back for a couple of quarters. What can take a little more time to appear is the consequence of a significant drop in economic activity: drop in employment and increasing unemployment. It is the sight of thousands of people who lose their jobs, the fear you could be the next and the awareness that it would take weeks or months to find a new job, which scares the pants from normal people.

So if we were in “recession in person” for two years, what happened to the labor market at that moment? Total employment has increased by over 750,000, the percentage of people in the worker age with jobs is almost the highest it has ever been and the unemployment rate has increased only 0.5 percentage points to an even more skilled 4 %.

It sounds like a recession? It is the complete antithesis of a recession, which is why the reserve was thus reluctant to reduce interest rates.

In this campaign, there were too read about the cost of living with almost no recognition of a fact that should all have to thank our lucky stars: our labor market has never been better. Almost all those who want a job can find one – or more than one.

In all Dutton’s efforts to convince the United States, life is unbearable, and it is only Albanians’ fault, there was no mention of our labor market. In all our self -pity, we have allowed a man who has no interest in the economy and little knowledge of the economy, to outline us.

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