Unfortunate Predictions

A reader points out this article for a year ago:

Undeterred by the credentials of those sounding warning bells, BNZ chief economist Tony Alexander said it was never difficult to find doomsayers. “So there’s nothing really new,” he said.

“And if the Iraq war and September 11 didn’t generate a recession, then it’s going to take something very special to do that.”

Alexander also said most recent global growth forecasts were being revised up, not down.

However, any global fallout would affect financial markets rather than become a fundamental economic downturn, he said.

Hindsight is a wonderful thing!