massive spending cuts are good ..because it means lower interest rates. That fact that rates being lowered is a sign of a stalling economy is apparently meaningless. Just ask the US if they are enjoying their low interest rates?
Of course if interest rates go up that is also good because it is a sign of a 'robust' economy.
Swan can't lose.
The fact that we are in this economic mire is particularly frustrating given the absolute predictability of this. Swan bet the surplus on the very industry he then white anted and knee capped.
