Fear can be a powerful motivator but it eventually wanes, unless you can find a new bogeyman.
Take Australia’s retail sector, where it is fast becoming clear that we have a case of too many shops and not enough customers.
Despite our solid growth, there’s been a structural shift in behaviour away from debt-fuelled demand towards frugalism. The change has exposed a lot of small and medium businesses and if RBA Governor Glenn Stevens is right, the old days will not be back.
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That there are still unexplained and magical elements every day in this deep and complex world is mostly wonderful.
It is wonderful, for example, that doctors still cannot tell precisely when a woman will go into labour.
The world held its breath early this week, wondering when our own Princess Mary would give birth to twins.
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