In a recent editorial the Herald stated “[the economy’s] remarkable performance has made a mockery of the most gloomy economic commentary in the past year”. This was under the heading “too good to be true – and we know it”.
In the same issue your Thomas Coughlan says that the Government’s books are in “curiously” good shape. This term is telling. Again, “too good to be true”?
In a similar vein BusinessNZ stated in your Friday issue “… current historically low levels of unemployment, modest Crown debt by international standards, and commodity prices still holding up ..”. This under the headline “storm clouds building”.
In the same issue an item on the Business Finance Guarantee Scheme states “… of banks’ business lending as at November, only 0.4 per cent was non-performing … This is a very low portion by historical standards”. This under the headline “Govt underwrite … wasn’t entirely necessary”.
It seems we just cannot bring ourselves to celebrate our good fortune, even in our Christmas season!
Peter Davis, Kingsland