Breakfast

The share market plunged yesterday to below half the level it was at just one year ago. The outlook for growth is worsening with another survey this week suggesting Australia could follow the rest of the world into a recession next year. Yet the Reserve Bank governor, Glenn Stevens, says we are all being too gloomy. He says the biggest mistake we can make right now is to talk ourselves into a recession. Well is he right? Are commentators and the media being too negative about the prospects for the Australian economy? Is that gloom and doom putting our economy more at risk? Or is Glenn Stevens just whistling in the wind?

Guests

Hugh Mackay
Social researcher and writer

Craig James
Chief economist with CommSec

Gerry Harvey
Founder and chairman, Harvey Norman

Reporter

Sheryle Bagwell

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