Well, that's a relief. Thanks Joe! Let's all go out and borrow borrow borrow 'cause the good times are just around the corner!
So, to summarise; We recognise tough times ahead.. yet the policy changes required to weather the storm are political death for any politician that implements them. Ergo, this train is going to keep going down its current track. We know what the future holds, our sister exporting nations Brazil & Canada are already in recession... jeez... I mean, even cavemen accepted and prepared for winter. As a species have we really lost these basic survival instincts?
Don't worry - it is different here. House prices will keep rising forever and we will become the wealthiest nation in the world.
I don't have the article in front of me, but the Future Fund has been cashing up. About 20% of its 160 billion I believe. They must also be anticipating a giant crash.
They're too shit scared to stay we are in a recession because it will put us in a worse position than we already are!