Economics: about as scientific as astrology
We might as well put today’s “stunning” set of economic figures down to the Transit of Venus. At least we knew that was coming.
As Lucy explained to us yesterday, while rafts of economists were split three ways on what the RBA would do with interest rates: “Astrologically speaking the Transit of Venus symbolises a time of hope and optimism, and many believe will signal the end of a particularly bad patch of economic woes.”
And then today, as Venus made it’s wondrous progress across the face of the sun, Wayne Swan got to gloat about a set of economic indicators no-one foresaw.
It turns out we’re not just OK. We’re FANTASTIC!
Well, everyone except Joe Hockey, who was trying to find the dark side this afternoon in economic growth of 1.3 per cent.
As the debate immediately descended into a race to label the other side the economic bogeyman, Hockey said the “scariest thing in Australia is Wayne Swan”.
“Wayne Swan doesn’t exude confidence. He is not someone who, if you were in the trenches and he blew the whistle, that you’d readily jump over the top for.”
I wonder what Jonathan Cainer thinks the RBA will do next month?
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