Tuesday, April 28, 2009

The Language that hampers an Economy

The inimitable language of Treasurer Swan

On economic growth, it will “slow dramatically.”

On unemployment and effect on Government revenues, it will have a “dramatic impact.”

On need to cushion economies from the recession the meeting, (G20) “underscored the importance of coordinated international action and also underscored the importance of domestic governments putting in place economic stimulus to cushion their economies from this very, very sharp global contraction.”

On the recession,” it's pretty clear that this recession is deep and it will probably go for longer than many had anticipated only a short time ago … “

Both the PM’s and the Treasurers repeated pessimistic and downbeat commentary about the economy only serves to validate the excessive stimulus packages that will in turn hamper any future recovery. Hence, our recession may exactly be as protracted as the treasurer suggests. With Rudd and co its nothing but doom and gloom. We’re inundated with the language of impending economic calamity. Coincidentally it all began in Nov 07, and thanks to an easy to fleece biased media, the doom and gloom rhetoric will continue for the time being.

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