tag:blogger.com,1999:blog-2197051945822486684.post6569168884908730902..comments2024-03-29T18:17:34.956+11:00Comments on Thinking Out Aloud: Don't mention the A-wordLorenzohttp://www.blogger.com/profile/00305933404442191098noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2197051945822486684.post-29391106854813944562012-05-19T18:42:35.457+10:002012-05-19T18:42:35.457+10:00Yes, I did. (Have been travelling, hence delay in...Yes, I did. (Have been travelling, hence delay in responding.)Lorenzohttps://www.blogger.com/profile/00305933404442191098noreply@blogger.comtag:blogger.com,1999:blog-2197051945822486684.post-90779141038684024952012-05-13T12:15:39.963+10:002012-05-13T12:15:39.963+10:00Lorenzo
As you know, back in 1997 I got interested...Lorenzo<br />As you know, back in 1997 I got interested in Australia, especially how it performed relative to NZ following the Asia crisis and the ensuing plunge in commodity prices. <br />At the time I wrote a piece in portuguese (that more recently I adapted as a post (which you´ve seen)). But Brazilians are too hard headed and just dismiss Australia as a model.<br />In the past few years we "surfed the China/commodity wave" but stopped doing the sort of structural (microeconomic) reforms that sustain higher levels of growth over time. Last year growth was a meager 2.7% and will likely repeat that this year.<br />BTW, did you see my post on Brazil from 2 weeks ago?<br />Cheers<br />MarcusJoão Marcushttps://www.blogger.com/profile/13658264244033012660noreply@blogger.comtag:blogger.com,1999:blog-2197051945822486684.post-48008823153398425452012-05-07T07:47:51.310+10:002012-05-07T07:47:51.310+10:00Basically yes. There are some other issues about ...Basically yes. There are some other issues about debt -- Japan and the UK have gone on public debt binges, but they are outliers.Lorenzohttps://www.blogger.com/profile/00305933404442191098noreply@blogger.comtag:blogger.com,1999:blog-2197051945822486684.post-61087580861195214182012-05-06T23:45:32.419+10:002012-05-06T23:45:32.419+10:00Like Australia, Sweden (the only other rich countr...Like Australia, Sweden (the only other rich country performing anywhere near Oz these days) has high private sector debts and low government debts. <br /><br />Debt ratios don't seem to say much about the future path of the economy so long as nominal growth is stable. Indeed we might say the opposite, a long history of nominal income stability begets high debt. A Recently minted MD has a massive 'debt to GDP' ratio too, but few would say that debt was 'unsustainable'.Anonymousnoreply@blogger.com