Here is a pretty thorough dissection of the challenges faced by New Zealand.
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3 comments:
I would be interested in what you make of the surprisingly strong GDP numbers
My oh my, I didn't know NZ had those problems. I thought all countries aimed for a max of around 45% but that must be just the EU. Oh, looking at some figures I see it's just northern Europe at those levels, Spain's is 36%, France's 62% and Italy's 106% !
After such a long expansion phase you'd think most countries would be making a surplus each year (those not at war), if this downturn gathers pace there could be real trouble on the horizon with countries defaulting.
So who lends all this money? It must be in the hundreds of trillions of dollars now.
Oh forget that question, here's a good answer:
http://www.mckinsey.com/mgi/mginews/why_debt_hasnt_killed_us_yet.asp
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