I’ve been enjoying watching the New Zealand stock market fall over the last two weeks. It’s been really quite a pleasure to watch the NZX50 drop just a bit more every day, refreshing my browser every so often. And today I had the pleasure to watch the sharemarket plummet by as much as 4% at one point.

In just 3 weeks the NZX50 has dropped almost 600 points, partly as a result of the credit collapse and the price of oil. The latter, of course, will shortly (in the next 5 years) be past the point of return and be rising irrevocably in price, and declining in supply, likely triggering a global recession without end.

To be honest, I can’t wait. It’s gonna be absolutely terrible, of course. And I imagine New Zealand will slip from the margins of first world status to third world, and most of us here will be pretty screwed (cost of food, especially). But the sad thing is, I’d rather that than this perpetual continuation of the status quo, which is at least as destructive. At least a break in the status quo opens up fissures.

Advertisements