Peter Martin quoting Governor Glenn Stevens on 8th June 2012:
"According to data published this week by the Australian Statistician, real GDP rose by over 4 per cent over the past year. This outcome includes the recovery from the effects of flooding a year ago, so the underlying pace of growth is probably not quite that fast, but it is quite respectable – something close to trend. Unemployment is about 5 per cent. Core inflation is a bit above 2 per cent. The financial system is sound. Our government is one among only a small number rated AAA, with manageable debt. We have received a truly enormous boost in national income courtesy of the high terms of trade. This, in turn, has engendered one of the biggest resource investment upswings in our history, which will see business capital spending rise by another 2 percentage points of GDP over 2012/13, to reach a 50-year high."
Of course that didn't stop a privileged blowin like South African-Israeli-Australian Ivan teh Grate from spouting this nonsense, from atop the dizzying peak of his 'on paper' fortune, to the Herald Sun on the very same day:
"IVAN Glasenberg, the nation's second wealthiest person, says Australia is a less attractive place to invest than the world's poorest country, the Congo.
Mr Glasenberg, pictured, the South-African-born head of commodities giant Glencore, said the carbon tax and mining resources rent tax had damaged Australia's reputation.
He told an industry dinner in London that mining companies were disadvantaged in Australia as they had less leverage.
"At least in the Congo they need you, they want you there, and if they start changing the rules you may not continue investing," said Mr Glasenberg, an Australian citizen whose wealth is estimated at more than $7 billion.
The war-torn Democratic Republic of Congo this year was named by The Richest magazine as the world's poorest nation."
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