Monday, 1 October 2012

two quotes for today on living standards

Two quotes in my piece tomorrow on the Drum
They are food for thought

Ross Garnaut in the AFR (30th September 2012);

“I think we're going to have a very difficult time adapting to the decline in living standards that's going to be a necessary part to the adjustment to the end of phase one and two of the boom".

And in today’s AFR (1 October 2012)

“Merrill Lynch forecasts GDI to grow 1.1 per cent for the 2012-13 financial year, below population growth of 1.5 per cent a year, indicating a fall in real income per capita.

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