Saturday, February 16, 2013

Reality Check?

"In fact, with strong economic growth the government can simultaneously increase spending, cut taxes and boost the surplus and if you say that’s a magic pudding, it is actually what happened for the last five or six years of the Howard Government." - Tony Abbott, Address to CEDA, February 15.

"Despite continual commentary that households are very cautious, actual measures of confidence have in fact shown an upward trend since the middle of last year and are currently a bit above longer-run average levels. Admittedly, households do not feel the same ebullience they did for some years prior to the financial crisis in the major countries. But that degree of confidence, with its associated patterns of saving and increasing leverage, was unusual, and is not likely to recur." - RBA Guvnor Glenn Stevens, Statement to House of Representatives Standing Committee on Economics, February 22.

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