A healthy economy, New Zealand-style, comes at a cost – especially for unfortunates with big home mortgages.
Wednesday, September 15th 2004, 4:10PM
by The Landlord
The economy is enjoying probably its most protracted period of sustained growth and health since 1840. That was the consensus view of a group of economists, farming observers and a former senior central banker at a gathering recently.
I'm sure the group would be happy to be corrected by an economic historian with the resources to compare relevant data.
The view was formed after discussing the usually short periods of prosperity New Zealand enjoyed during the mid to late 19th century, the 1920s, the late 1940s, the early 1950s, up to the 1980s. Usually these ended rapidly because of balance-of-payments shocks, rocketing overseas debt and the like.
