Econo-colypse or econo-collapse!
Adolf and I have tended to be more pessimistic than the mainstream with the impending recession, that judging by today's news is already with us.
I blogged some sad tidings earlier today.
Now, Bruce Sheppard of the NZ Shareholders Association, who previously warned of financial collapses in our banking sector, now warns of economic collapse.
In a disturbing entry, Sheppard says, thanks to our high debt levels, New Zealand faces property and financial meltdown, the OCR will be 3.5% by Christmas, not that it will matter much, the Kiwi will drop below US50c and A70c, petrol will hit $3 a lire, there will be inflation, stagflation and a depression.
By election time, there would be so much civil unrest, it won't be worth whoever winning such an election, and foreign merceneries might be drated in to restore order, as we don't have sufficient troops ourselves.
A bankrupt country will have to sell off state'assets' , Universal super will go, as will Kyoto, the free trade agreement with China, and state benefits will be means tested.
Eventually, Australia will give us "an offer we can't refuse, and Tasmania gets a promotion."
Oh dear! Seems Adolf and I were the optimists!!