It is of trivial consequence on the world stage.
We have been slow to recover from 2007 compared, in particular, with the USA.
There has been no real growth for years.
The economy has been artificially kept from technical recession by excessive immigration.
We have been in a real (GDP per capita) recession for some time.
We have been in drought for years.
The government has done nothing, relying on shrinking interest rates to stimulate the economy.
Shrinking interest rates have not worked but they keep dropping them.
No capital works stimulus (dams and power stations).
Low returns from interest has been forcing people to move into the share market thus increasing demand.
Our local share market is a very shallow pool with few quality assets.
Many of our productive assets have been sold for a song to foreigners.
We have excessive debt.
When the bubble bursts it will be spectacular.
It will happen, but no one will call it except by accident.
