Don't make the rest of us worry, Rob!

All the warnings over the years about a possible Australian recession are getting a tad wearisome.

The unemployment rate of 20% predicted by Steve Keen is actually only at 5.7% and basically fairly low unless you are in Tasmania (and his house price crash predictions were even worse).

For all the never-ending predictions of a bust, house prices have moved up to all-time highs and share markets have been on a fabulous run for the past year.

The iron ore price which was set to ruin Australia by falling to US$70/tonne is actually at double that level when considered in A$ terms thanks to the correction in the currency.

The Reserve Bank of Australia, with all of its army of economists sees GDP growth continuing at 2.5% to 4% over the next couple of years.

Of course, some bloggers will continue to forecast an Australian recession, a massive property crash, a mining investment cliff, a commodity price crash or chronic levels of unemployment...they've been doing that for years with no joy, and they'll never go away. So what? I'll go with the Reserve Bank economists any day and get on with living life.

Interest rates at a stimulatory 2.50% are set to keep the Aussie economy growing...


{warning: contains expletives}

(probably not the best idea posting this video - it ends with England getting dusted by Holland - hopefully the Aussie economy will fare a little better than poor old Graham Taylor!)

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