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All that is happening is that the slower growth, inflicted on the US economy by Fed tightening, is now having a slowing effect on US operating earnings per share growth.
History shows that a much smaller population could indeed survive in Australia without using mineral hydrocarbons, but life with zero man-made emissions would be grim.
The IPCC summarises: estimates of global annual economic losses for an additional temperature increase of 2°C are between 0.2 and 2.0 per cent of income.
By 1934, Joseph Schumpeter and Wesley Mitchell had written that the business cycle contained a self-correcting normal rhythm which should be left to itself to do its work.
The HILDA report, released this week, showed that median disposable income in Australia dropped by $542 from 2009 to 2017, despite the fact that Australia has had the highest population growth rate in the developed world.
Nasr's move to stabilize the market is praiseworthy but should be seen as an attempt to quell fears of traders and financial analysts, especially just before the OPEC+ meeting in Vienna next week.
Abbott blocked good policy; It wasn't without reason that he earned the nickname 'Dr No'. Now Labor has a right to block sweeping tax cuts that will indirectly hurt millions of its constituents.
