Morgan’s chief economist, Michael Knox, recently wrote a great piece on one of the dumbest pieces of economics news stories I’ve seen in a long time. Uneducated and biased media people loved the idea of recession per capita but in all my years of writing and teaching economics at places like the University of New South Wales, we never dealt with such rubbish.
So I loved it when Knoxy, who often appears on my TV program, came up with: “Aussie’s per capita recession & other children’s stories” headline.
Michael is a smart guy and sometimes doesn’t know what normal people find easy to digest. But as you’re an investor and can be affected by what you read is happening to the Aussie and global economies, I’ll try and bring his sophisticated analysis down a peg or two so it’s more digestible.