Argus' grim warning to Australia

Four graphs from Don Argus sound a frightening warning for the Australian economy: that serious productivity declines are set to hit growth, inflation and interest rates.

If you want to believe that all is well with the Australian economy do not read this commentary. Its inspiration comes from former NAB chief executive and BHP chairman Don Argus, who, fresh from setting out a blueprint which is already revitalising Australian cricket, has turned to the Australian economy.

He has produced a set of graphs that are truly scary and show we have a deep underlying problem. Next time you hear a government politician say that, deep down, Australia is in good shape, understand that it’s pure spin.

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