Why retailers need two budget deficits

In his song Trouble Man, Marvin Gaye sings about taxes, death, and trouble. Today, the chorus of media commentators, politicians, economists and the Reserve Bank sing a similar tune – one about interest rates, sluggish economic growth, and the deficit. The quartet mostly agrees that economic growth is slowing, and the primary factor preventing it from dropping to zero by mid-next year are the big natural gas export contracts we have in place for the next 18 months. But, this buffer will not la

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