this post was submitted on 03 Jul 2024
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Retail spending slump nearly surpassing '80s sharemarket crash (www.rnz.co.nz)
submitted 4 months ago by deadbeef79000 to c/newzealand
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Oh, is that the sound of a free market correction?

Is NZ oversupplied for retail? No, it's the consumers who are wrong.

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[–] Xcf456 3 points 4 months ago

Oh, is that the sound of a free market correction?

I get where you're coming from, Retail NZ and the sector they represent (which is not all retailers of course) always come off as incredibly self absorbed and uncaring imo, particularly when they comment on employment stuff. Bunch of small business tyrants.

But that lets the govt off the hook a bit I think. A lot of the article is Wellington focused, and talks about the link to the job cuts in the public sector and the way that's been done. They've actively cratered things on top of a downturn that was already happening.