The economy's reckless drive

Article Abstract:

Australia's strong economic growth and its supporting policies are actually doing harm to the economy. The high growth rate of 4-5%, spurred by a loose monetary policy aimed at having the lowest possible interest rates, may leave Australia vulnerable to another recession. The economy has a credit-driven stimulus, and households are already in trouble, with a debt-to-income increase of 100%, while the savings ratio dropped since 1997 from 6% to 0%. Because of zero savings, the consumption growth has been fueled by borrowing and an increase in the current-account deficit.

Australia, Statistical Data Included, Finance, Influence, Economic development, Consumption (Economics), Monetary policy, Debt, Households

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Unproductive nonsense

Article Abstract:

Issues are presented concerning the influence of productivity growth on the ideology of politics and on economic policy. The effectiveness of the policy agenda of the Productivity Commission is discussed.

Political aspects, Industrial productivity, Ideology

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Sticking to the CPI is a recipe for disaster

Article Abstract:

Issues are discussed concerning US and Australian monetary and economic policy, focusing on CPI (consumer price index) inflation.

Column, Consumer price indexes

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