Financial markets have been extremely turbulent, with particularly volatile trading in the foreign exchange market and some equity markets. Where is the world economy going, and how will New Zealand be affected? It is always risky being too definitive in answer to questions of this kind, because in reality nobody can know the answers with any confidence.
But it is particularly dangerous to give answers at this time. If one suggests that the world economy is in for a very rough ride, and New Zealand with it, one is accused of undermining confidence and making the situation worse. If one points out some of the positive aspects of New Zealand’s situation, one is accused of being hopelessly unrealistic.