3 conclusions Australia is not a one trick pony. One could be forgiven for thinking it is a three trick pony, at least in so far as the economy is concerned. A report in the business media suggested yesterday that following the fall off in mining and the recent peaking in home building economic health […]

3 conclusions Australia is not a one trick pony. One could be forgiven for thinking it is a three trick pony, at least in so far as the economy is concerned. A report in the business media suggested yesterday that following the fall off in mining and the recent peaking in home building economic health in Australia is now dependent on retailing. Clearly this ignores the importance of agriculture, education and other key sectors but it does point to just how narrow and limited the Australian economy is. To me it suggests three things: The Australian economy is at best mediocre Builders will need to become less mediocre Retailers can get away with mediocre for a while The Australian economy is mediocre because it is so narrow and it is a reflection on our mediocre politicians that the Australian economy is not more diverse, complex and suited to our high…