Adam Carr – “even the English are referring to Australians as ‘whinging Aussies’.”

Brilliant article from Adam Carr highlighting the disparate nature of our sound economy and the morbid need for gloom. While an interest rate cut could well see overall confidence drop further once again we wonder just how long and how much larger an event will it be to trigger a change of leadership in government consequently allowing the turn of sentiment, something so many are crying out for. More…

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Dragonomics

Glenn Stevens comments yesterday, issued from an investor’s conference in Hong Kong, provide confirmation of Adam Carr’s growing awareness of excessive pessimism in the Australian Economy. As pointed out by Glenn Stevens a “sense of concern in some parts of the Australian community, and the tendency to focus on the difficulties, rather than the opportunities”.

Of further interest was his comments relating to the much publicised revised Chinese growth figure, as pointed out ”Even at the new growth target of 7.5 per cent, a lower target than in the past five years (all of which were, of course, exceeded) Chinese GDP [gross domestic product] will equal that of the United States, in purchasing power parity terms, in about a decade. It will exceed that of the euro area within the next few years.” More…

Imports UP = Good

Adam Carr from Business Spectator has been keen to cut through the mainstream perceptions on our economy and in this article he clarifies some basic truth. We have been suffering a similar malaise to the US with the impact of high import figures on overall GDP. “Prospects are, needless to say in my opinion, fantastic and you only need to look over at the acceleration in US growth to see why some of the pessimism here is probably unwarranted.” We look forward to this weeks RBA releases to support the theory of optimism. More.