We’re nowhere near Oh! What a Lovely War territory, but given we are now officially heading into a recession, it’s a distinctly peculiar one.
For a start, there’s the fact the Reserve Bank has deliberately scheduled it – rather in the way one might organise a world cup or a major conference – for sometime next year. It has put the economy into an induced coma with steely deliberation. If that’s ever happened before, no bank governor before Adrian Orr has had the hide to admit it, let alone trumpet it.
Then there’s the awkward fact the country is now as close to full employment as it’s
