Dear Reader, You may not know the name Grigory Potemkin. I can’t blame you, really. This isn’t 18th Century Russia, after all. But his story seems to be a major influence on our economy right now. And not in a good way. The story goes like this: In 1787, Empress Catherine the Great came to visit Crimea. Hoping to make a good impression, military leader Grigory Potemkin had the villages create false facades. Like set pieces from a stage show, he was hoping to impress Catherine with the prosperity of the townspeople. And it worked. At least, it worked for Potemkin. But for the villagers, nothing changed. They continued to struggle as they had been. Australia is shaping up in a similar way. We’re hiding behind our proud 28-year record without a technical recession. An obvious display of our success, right? Or perhaps… Australia’s own Potemkin Complex. But I’m not happy to hide behind the facade. Are you? If not, I may be able to help. Australian leaders might be happy to hide behind false prosperity. But I’ve found economic leaders that are happy to help. Click here to join me. Cheers, | Selva Freigedo, Editor, Markets & Money |
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