If former US Treasury Secretary Larry Summers is right, then the unmistakable implication is that the RBA should probably cut rates -- perhaps twice -- later this year.
Treasurer Scott Morrison says Australia will "grow into growth". Global economic conditions suggest otherwise.
House prices in Sydney and Melbourne are cooling, housing approvals are up, and everyone's wondering if Australian banks have been lending too much.
In the lead-up to the federal budget, the government has made a number of significant and sometimes surprising policy announcements.
Wages are sluggish, underemployment seems stubbornly high, and there is a continued push to part-time rather than full-time employment.
Negative gearing plus inadequate supply plus low wage growth equals financial distress.
Australia's central bank is still trying to walk a delicate tightrope.
It is a puzzle as to why businesses are reasonably confident but not willing to invest.
Investor loans are on the increase again, causing pause for the regulators.
Brexit and Trump pave the way for more financial market uncertainty.
My Christmas fiscal wish is that in 2017 both sides of politics treat the Australian public like adults.
The US Fed meets expectations for a rate cut, Australia's unemployment rate heads upwards again, and all eyes look to the mid year budget update.
US GDP data points to a US rate rise in December, and Australia's housing affordability problem won't be helped by current declining building approvals.
Construction slumps to its lowest level since 2010, and the US Fed remains divided on its next interest rate hike.
Global markets are spooked - and with good reason.
The Australian economy continues to show some positive signs, but there are pockets of weakness and cause for concern every month.
The odds are the Fed will raise rates once and the RBA will cut once before the end of the year.
The Australian economy continues to deliver mixed, but on the whole positive, signals.
The RBA leaves rates on hold, Australia gets a GDP growth spurt from pre-election spending, and the IMF lays the groundwork for a lowering of global growth expectations.
All in all this was a fairly positive week for global economies.