Economic weather report: Bollard on Monetary Policy

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New Zealands budget showed a cash deficit for the first time in nine years in the 12 months through June, and Finance Minister Bill English has projected five years of deficits as debt increases. Tax receipts fell and government welfare spending increased last year as New Zealand faced its worst recession in three decades.

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Another iceberg ahoy!!(cut's 'n pastes.Sorry)After Standard & Poors yesterday lowered its sovereign credit rating outlook on Japan, Roubini said he was worried about the worlds second-largest economy as its debt mounts, deflation returns and population ages. While it can currently finance itself thanks to domestic savers, at some point they may flee the yen, pushing up borrowing costs and crippling the economy, he said.

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I see an iceberg!OMG!! Standard + Poors' has downgraded Britains banks(29/1/10) and says it might give the Brits a sovereign downgrade ...but don't tell Bernard ..Shhhhh

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Ok KhmerDog..It is and so are icebergs from Antarctica now approaching the South Island which my put a hole in t and drag the Nth Is and Australia down ..

[navtel]

the economy recovered because some people were bargain hunting but like in the US will be caught when prices drop again as the world economy drops into the tank.

[bookbinder66]

is was the free money that gave them a dead cat bonce

[KhmerD0g]

come on hickey, world wide depression is coming.

say it, say it.