
The Government is actively causing a private debt crisis
As the economy tanks, the Government is actively shifting debt from the public to working New Zealanders. Big business will continue to syphon up competition as regular people are pushed further and further into crushing debt.
Interest rates are likely to go up, as is electricity as it peaks in winter and all the Government has to offer are job cuts.
This is all political. Economics is not a science. Capitalism is cooked and we are for dinner.
"Hospitality closures up 49%, more than 130,000 people have mortgage over $1m https://www.rnz.co.nz/news/personal-finance/597059/hospitality-closures-up-49-percent-more-than-130-000-people-have-mortgage-over-1m"