Joe Hockey’s ‘clowns’ comment may come back to haunt him as defence and housing sector were the only bright spots in a gloomy picture of the economy

The latest gross domestic product (GDP) figures show just how dependent Australia is on exports, and that when they fall away, so too do any hopes of strong (or even average) economic growth.

Three months ago, when the March GDP figures showed surprisingly strong growth, Joe Hockey suggested that those who believed there were “dark clouds on the horizon” were “clowns”.

Continue reading…
Source: The Guardian Circular Economy RSS