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Henry's upside-down economics : Comments
By Alan Moran, published 27/5/2009The Treasury chief, Ken Henry, simply doesn't understand how the economy works.
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Unfortunately for the Labor government, neither they nor their advisers have a lot of experience out in the real world, with the exception of the PM's spouse and one suspects that she would have had a minimal input into the budget. Treasury forcasts, to me, seem way out in the realm of fantasy, but it the punters who buy shares all believe them, so that the present rise in the market may be short lived when reality sets in. The key to it all is unemployment which is rising steadily, both here and in China which Rudd and Henry think is going to be our salvation.