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Flat White

ScoMo and Josh’s irrational exuberance

1 June 2021

4:00 AM

1 June 2021

4:00 AM

Last week the Australian Bureau of Statistics released figures showing new private capital expenditure rose 6.3 per cent in the March quarter. 

Treasurer Josh Frydenberg told parliament, “Manufacturing investments had the biggest jump for 16 years. This is the product of our policies.”  

Well, yes.  There are lies, damned lies and statistics.  

If the increase in manufacturing investment was to be welcomed, it also has to be recognised as a cherry on a paper maché ice cream. 

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