The Conversation

Australia must prepare for the mother of all hangovers

12-02-2015 Author: The Conversation

Partied too hard?Julian Smith/AAP

You know Australia’s in trouble when the Reserve Bank cuts interest rates.

Last week, the central bank did precisely that, in belated recognition of the income recession that has struck. Gross domestic income (GDI) fell by 0.3% in the June quarter of 2014, followed by a further 0.4% slump in the September...

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