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73 comments Let me think for asecond………………….hmmmm. The US [The Obamanator especially] early this year was crowingabout "the4 job numbers"; today they are falling off acliff. The EU every second week crows it has solved the EU "debtCrisis then to find another genii pops out of the bottle. Two years ago we were all being told The GFC is over but today weare seeing it everywhere. ……………….hmmmmmm!!! Let"s get this right as early as mid last year it was beingreported that The Big Miners were all under margin pressure fromChina and India and were reassessing capital Expenditure. China hasbeen stock piling at its docks for 12months. China has more emptyhousing stock in Beijing than the entire USA. Hmmmmmmm!!!!!!!! Is there a pattern here? Are dots joining? Something is not makingsense. If this GDP print is wrong then Swanee is going to have putthe final nail in the coffin of this Government. If they are rightthen in reality they will not mean anything. Why as the money goingthrough the system is all marginalised as it is becomingincreasingly gross margin poor. Swan confuses by his own words GDPwith Prosperity and as I have been pointing out for a few weeks nowthey are not the same. Australians are not feeling prosperous. For me this is very worrying when those that should know appear notto as they were all surprised yesterday. Further they have noproper understanding of what any small business person learns dayone; cash flow and margin rule and you cannot spend more than youearn!!! Oh dear another day of gratuitous rubbish from Canberra!!! Commenter blizzard Location Sydney Date and time June 07, 2012, 7:45AM A little bit of deja vu going here. Didn't I just read this post onanother article? Cut and paste? Run out of ideas? Or is this howthe LNP media stooges work -- one big lie, repeated often enough,will eventually persuade the average simpleton voter that ourgovernment is doing a bad job DESPITE all the cold, hard evidenceto the contrary? Reminds me a little of the letterbox-drop scandalthat enveloped the LNP in the Lindsay electorate not so long ago.Despite being caught utterly redhanded, a good third of thepopulation still voted LNP!!? I despair. Maybe Australia deservesthe Abominable No-man. Commenter kp Location Sydney Date and time June 07, 2012, 11:54AM @ blizzard "For me this is very worrying when those that should knowappear not to as they were all surprised yesterday." Dou you mean: Tony (AKA Dr No) Abbott - said it was hardly surprising that theReserve Bank would cut rates this month because the decisionreflected weak economic conditions, not strong economic managementby the Government. Joe (eat workchoices and learn to love it) Hockey - 'Imagine howwell our country could do if we had a good government'??? Imagine if the good Labor government had two more votes in thelower house." Commenter my voice Location Date and time June 07, 2012, 12:52PM my voice if you can explain to me how Australia having the goodluck to have a surfeit of minerals in the grounds conflates toCanberra [either house] providing good economic management thenplease do as I am interested to be enlightened. All I can see is 20 years of Government wasting the windfall asthey crow about their wonderful stewardship and rusted ons like youechoing the spin. All I see is your politics [again either side]providing the backdrop for this 20 years of Government giving us aserious dose of Dutch Disease. Lazy populations allow for lazy Governments and ours are nowcompletely indolent!!! Commenter blizzard Location Sydney Date and time June 07, 2012, 1:34PM I wonder if we will hear Swanny bragging about the unemploymentrate going up? Commenter liklik Location sydney Date and time June 07, 2012, 2:45PM Whether the figures are right or wrong the obvious observation isthat the mining boom is by far the biggest egg in a small basket.Commodity prices being paid by China are bankrolling this show andanyone who wants to whats going to happen only has to track thedemand. Commenter SteveH. Location Date and time June 07, 2012, 7:46AM No, consumer spending is "bankrolling" the show. Mining investment is bankrolling the US, Korea and Japan where theheavy machinery comes from. Consumer spending largely stays in Australia creating employemnetin retail and small businesses. Commenter Steve Location Date and time June 07, 2012, 9:34AM Steve don"t you ever give up? Your insistent shilling orspinning of "B grade"" interpretations of realityis mind boggling. Did you get what SteveH was drifting? No youobviously didn"t. Sometimes less is more which is what SteveH was opining but notwith you you just lead with your chin throwing up simplisticrubbish! Commenter blizzard Location Sydney Date and time June 07, 2012, 10:36AM Steve, you really should do basic research, or at least think aboutthings beyond what you're told by those who do it for you. If we subtracted the export income and investment flowing in fromthis China mining boom, taking in each others washing would notmake up the difference, not by along shot. As it is the south eastern states are only now just scrapping abovea recession, and BTW that is where the bulk of the populationlives. Commenter SteveH. Location Date and time June 07, 2012, 11:16AM SteveH 2% growth is still far from a recession. That is still higher thanAustralia's growth for any of the Howard years. Commenter Steve Location Date and time June 07, 2012, 11:48AM More comments Comments are now closed. 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