174 - Hitting the wall
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Description
"Australia's economy hit the wall in the September quarter," according to Westpac economist Andrew Hanlan. Disposable incomes have declined steeply and consumer spending is weak. Have the rate cuts done their job now? Could the next move be down rather than up? Plus, Venezualan revanchism and Guyana's oil and gas boom.
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This week on the Dismal Science, Mark and Raph take a look at the latest Australian labour market figures and what it means for Mark's increasingly shaky call for a February rate cut.
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