Thursday, November 27, 2008
Last night in my Bill English post, I touched upon our worsening economic situation.
The OECD clearly highlights the failings of the Helengrad years with a couple of clear statements.
New Zealand has entered recession ahead of other OECD countries, a victim of simultaneous domestic and foreign shocks," it said.
Oh! I wonder why we entered recession ahead of others? Who was to blame for these domestic shocks. Some answers to follow:
"The outlook remains subdued because the large macro-economic imbalances which have built up over the past decade - inflation, housing overvaluation, high household debt and a huge current account deficit - will take some time to unwind."
And who was responsible for that? who was in office then?, but Uncle Helen and her Fiscal Fool!
Posted by FAIRFACTS MEDIA at 8:17 AM