idbkiwi: Wellington Is Running Out of Rocks

I’m titillated by the term ‘technical recession’ being bandied about the state of the economy. It’s a bit like ‘technical pregnancy’: you either are or are not experiencing one. We are. We’re in a recession and it behoves those with a public voice to speak to that fact. To say it loud and clear: the economy is shrinking, our trade balances are worsening, there is no magic pot of money to pretend it away – and yet they do not. They prevaricate – ‘technical recession’ – as if it’s not really happening.