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Ryan Bridge: When will our economy come out of its hangover? · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: The US economy is just humming along at the moment,
• 0:02
  Speaker 1: isn't it. Two point eight percent? As I mentioned earlier
• 0:04
  Speaker 1: in the program, two point eight percent is their lucky
• 0:07
  Speaker 1: number this morning. Two point eight percent annualized GDP for
• 0:10
  Speaker 1: the September quarter, better than the Eurozone, better than the UK,
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  Speaker 1: much better than US. We're still going backwards. Twenty twenty
• 0:17
  Speaker 1: four has basically been a write off. But then we
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  Speaker 1: went balls to the wall with interest rate hikes post COVID,
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  Speaker 1: and we were the first out the gate to do
• 0:26
  Speaker 1: it as well. We've held higher for longer, and the
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  Speaker 1: hangover is hitting like a forty ounces Smirnoff in the morning.
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  Speaker 1: It's not pretty, is it. Sure the rates are coming down,
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  Speaker 1: we saw more of that yesterday, but boy, the mess
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  Speaker 1: that that wrecking ball has left behind. What's interesting about
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  Speaker 1: the Americans, even though their consumer confidence was low as
• 0:48
  Speaker 1: ours has been as well, they would still go out
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  Speaker 1: and use the credit card to buy stuff. In other words,
• 0:53
  Speaker 1: the sentiment there didn't match the reality, which is what
• 0:56
  Speaker 1: we're seeing in the GDP number that's been announced this morning,
• 0:59
  Speaker 1: which should and do envy. Of course, they're a country
• 1:03
  Speaker 1: that's run on domestic consumption. We run on trade and
• 1:06
  Speaker 1: we haven't been helped by the likes of China where
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  Speaker 1: there's been the slow down, Europe, etc. There are the
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  Speaker 1: markets that we must sell to to make a buck.
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  Speaker 1: But there is a question here for Nicola Willis, now
• 1:16
  Speaker 1: that inflation is beat, how much further will you go
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  Speaker 1: with the belt tightening? Is a return to surplus at
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  Speaker 1: all costs, at any costs worth it? She's repeatedly said
• 1:28
  Speaker 1: not how much? Does she mean that? I guess we'll
• 1:31
  Speaker 1: find out when we get the HAIFU numbers for December
• 1:34
  Speaker 1: on the seventeenth, or when the Minister comes on the
• 1:37
  Speaker 1: show in twenty minutes. We'll ask you then too. For
• 1:40
  Speaker 1: more from Early Edition with Ryan Bridge. Listen live to
• 1:43
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