Can Grant Robertson and Adrian Orr avert the train wreck or will they make it worse? OPINION: Imagine our economy is a train, hurtling forward across a rickety wooden bridge weakened by woodworm, rust and neglect. The US economy had been focused on producing tanks, not refrigerators, and the consequent economic boom meant that their GDP exploded, dwarfing the debt. Staying in the US, private debt is now higher than during the GFC and increasingly rapidly. Spending is running well ahead of tax revenue despite the fact we are at the peak of the economic cycle.

Source: Stuff June 25, 2022 20:06 UTC