Whatever today's economic data shows about how close Australia is to recession the truth is we are already experiencing the biggest dive in living standards in half a century β and have been for two years, writes Peter Martin.
We have been in a per capita recession for ages. The govt avoids a technical recession with mass immigration.
Think of "the economy" as "rich people's yachts" next time you hear a politician or bobble headed reporter talking about something (like immigration) being good for the economy.