| Liberals united in attack on PM's economic policy, divided on election ...
Speaking of which, I wonder if Mr Harper now has any regrets about that stupid GST cut? Pretty expensive voter candy at a time when the treasury will probably really need the money. Posted 22/01/08 at 4:54 AM EST | Alert an Editor | Link to Comment .
The Economy Is Fine (Really)
Industrial production fell 1.1% during the six months ending February 2007, while new orders for durable goods fell 3.9% at an annual rate during the six months ending in November 2006. Real GDP grew just 0.6% in the first quarter of 2007 and retail sales fell in January and again in April. But the economy came back and roared in the middle of the year -- real GDP expanded 4.4% at an annual rate between April and September. With housing so weak, the recent softness in production and durable goods orders is understandable. But housing is now a small share of GDP (4.5%). And it has fallen so much already that it is highly unlikely to drive the economy into recession all by itself. Exports are 12% of the economy, and are growing at a 13.6% rate. The boom in exports is overwhelming the loss from housing.
Ledger memorials planned for New York, LA
The family of Heath Ledger will hold a private memorial in New York today to mourn the 28-year-old actor who died on Tuesday, Australia's Foreign Minister Stephen Smith said today. A public remembrance has also been proposed for Los Angeles in the coming days, Mr Smith told reporters in New York where he was visiting the United Nations. "I understand there's a private memorial service today for family members. I also understand it's proposed there will be a public memorial service in Los Angeles later this week," Mr Smith said, adding that Australian consular officials have offered to help the family repatriate the body. He provided no details of a Los Angeles memorial, and said any tributes in Australia would be up to the family. "Certainly in Australia, in my own home town of Perth (where Ledger was from), there's been public expressions of grief and sadness at the passing of Heath," Mr Smith said.
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