Is Australia headed for a recession? I hope not - but the RBA should be more worried | Greg Jericho

In backing down on his threats to destroy Iranian civilisation, Donald Trump has lessened concerns of a recession in Australia – at least for now Get our breaking news email, free app or daily news podcast As I write this, I sigh and realise that despite the president of the United States dropping his threats to commit war crimes and destroy Iranian civilisation, he is always a chance to set the world on fire because it’s been more than 20 minutes since he had a Diet Coke. This, of course, is hyperbolic. I think. Economies are tough enough to predict without having to deal with the erratic actions of one man. The past week has seen an increase in concerns of a recession in the coming months. Various media outlets are polling economists and getting them to place odds. At this point I am required to cite the old joke that economists have predicted 30 of the past five recessions. But on this I can at least stand aside from my peers. I don’t mean to brag, but I am a bit of a savant at such things. After all, I was the bloke who in early February 2020 wrote an article titled “Bushfires and the coronavirus will hit Australia’s economy – but they won’t knock it out”. So when I say we won’