Australia’s economy has slumped into a per capita recession which is bad for the Morrison government.  It’s only one month way from treasurer Josh Frydenberg delivering an early budget which is hoped to reset the election criteria for the Morrison government and propel them for victory with news of a return to surplus.

The market didn’t see that yesterday as the dollar dropped sharply which saw economist slashing the odds for official interest rates to reach record lows of 1% by September.

Michael is joined by Leith Van Onselen from Macrobusiness - the 'Unconventional Economist' to discuss how the only thing stopping Australia from tipping into an official recession has been rapid population growth.