by Caitlin Kenney

We'll be taking a look at global recession outrage on the podcast today with reports from Sweden, Shanghai and Egypt. We've received many letters from listeners around the world telling us who they are angry with, but today we got a letter from a listener in New Zealand, who says people in his country aren't mad at anyone.

Troy writes:

New Zealand has decided not to participate in the "financial crisis". If anything the crisis has helped the NZ economy galvanize. There are a few losers that were around the margins and some hard luck stories, but even the Prime Minister has decided not the participate as illustrated in this WSJ interview.

The real winners have been the exporters. The lower Kiwi dollar has helped pushed exports up. Also, Importers are not hurting as bad as you might think. People are just saving a little more and putting off buy big ticket items. Real estate is down, and will probably fall another 8% until it reaches the classic 3-1 ratio with earnings, but interest rates have stabilized.

Overall, it's been very positive.