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Ausnomics #1: Fool's Paradise was published in ExposAsia No 7/2010.
In ExposAsia No 7, Fool's Paradise, Justin Pyvis of Ausnomics examines the credit conditions in Australia and the response of the banks to the global credit crunch. He finds that through government stimulus measures and central bank support the banking system has fuelled yet another leg of the Australian housing bubble. In turn, the avoidance of technical recession in Australia has come about because of low quality, unproductive sector growth related to housing and construction.
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Posted on Feb 19, 2010 by Justin