tag:blogger.com,1999:blog-22517597.post5964446207521882764..comments2024-03-03T11:13:39.377+11:00Comments on Moomin Valley: Optimism Hits a Record High in AustraliamOOmhttp://www.blogger.com/profile/03440274434662150925noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-22517597.post-68654110825741182892009-09-11T09:46:49.559+10:002009-09-11T09:46:49.559+10:00The economy slowed down here and unemployment went...The economy slowed down here and unemployment went up by about 1 percentage point. Without the intervention of the government's stimulus package and the Reserve Bank cutting interest rates to 3% it probably would have been a lot worse. The Chinese stimulus program was also critical. So I don't agree that government intervention in recessions is bad (unlike the Austrian School of so-called economics). The US problem is that under Bush they were running deficits during a boom and now running even worse deficits which isn't probably sustainable in the long-term.mOOmhttps://www.blogger.com/profile/03440274434662150925noreply@blogger.comtag:blogger.com,1999:blog-22517597.post-42957555271067765492009-09-11T00:00:04.362+10:002009-09-11T00:00:04.362+10:00Are you concerned that when a recession comes (eve...Are you concerned that when a recession comes (eventually it will) that Australians will fare well? I ask because in the US, recessions that occur ever 7-10 years seem to be blamed on someone then a knee-jerk reaction from the Govt to "rescue the people" seems to slow down recovery.Cliffordhttp://www.chezcliff.comnoreply@blogger.com