ACT and the financial crisis
With all the coverage of the financial contagion which centres on the United States, it’s sobering to recall that it is New Zealand, not the US, which has moved into a “technical recession” in the past week, having suffered two consecutive quarters of negative growth. The last time this happened was in 1998 – a fact which should give ACT pause for thought. While financial troubles are not normally something to be embraced with glee, ACT should actually profit electorally from the economic uncertainty. In 1998, the year of the last recession (which took place amidst the Asian Crisis), the...