The R word is more frequently being used in day-to-day commentary, an indication that we might just be heading for just that, a recession.
Those in business in the late 1980s and early 1990s would remember Paul Keating’s infamous statement shortly before the recession, “the recession we had to have.”
The big problem is that governments are currently receiving record taxation at a time when the economy is struggling.
There’s no such thing as governments taxing themselves (ourselves) out of a recession successfully.
In the end, record tax takes combined with record spending spells a disaster for our economy.
