这个总结的可以,奥体啊路啊这次没有什么FTA来救了
The crash is coming because: - Higher rates in NZ do actually suppress demand (unlike in the US)
- Labour (and now National) Govt throttled spending
- We are running a trade deficit, which drives offshore savings in NZD / NZ bonds
When net bank lending + deficit spending slows for any length of time, we go into a recession. It's the same for any country with a trade deficit. We will now see unemployment climb and welfare spending increase but that won't be enough to stop continued job losses and escalating pain
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