Well we are a cranky bunch this afternoon. I'm just back from an unfair suspension and clearly the trench warfare continues. The retailers loved the stimulus package. They will lobby for something similar again by producing selective figures from the pre-Christmas splurge to support it. My Fosters shares are holding up particularly well (thanks Kevvie and all those people who chose to spend their bonus on domestically produced grog). Just about everyone else, upon reflection, sees the stimulus package are a panicky, lazy response with virtually no flow on (multiplier) effect. Why? Economics 101: the leakage of imports and savings (debt reduction).
