Remember Keanu Reeves in “The Matrix” and those great scenes where he dodged bullets? If I were any good on Adobe Photoshop I’d touch up this photo and put Kevin Rudd’s photo on the face of Keanu. Today Australia dodged a bigger, nastier bullet - recession.

Based on the volume of exports, Australia avoided recession. I know, I know - that’s unbelievable. In today’s global meltdown for Australia NOT to be in recession is a miracle.

But before we all race along George Street planting “High Fives” on fellow Australians, let’s pause and consider. Unemployment is up. Stores are shuttered. Confidence is shaky.

There used to be a non-alcoholic whisky called Claytons (”The drink you have when you’re not having a drink”). This may not be a recession in pure technical terms - but it’s a Claytons recession.