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Last year was the first time in 20 years that there were fewer cafes than the year before.\xa0

If that isn't a reality check on the state of our economy, then nothing is.\xa0

Yes, we are starting to see some light. There is some confidence here and an interest rate cut there.\xa0

But the tail end, well I hope it\u2019s the tail end, of what is likely three recessions in two years has taken a catastrophic chunk out of our economy.\xa0

I read a piece on an international site over the weekend about the quote-unquote, "economic refugees who are fleeing New Zealand in record numbers".\xa0

The most depressing stories about this country are the ones written by offshore operators.\xa0

We only make the news for exceptional stuff; exceptionally good or, in this case, exceptionally bad.\xa0

Let's do a piece on a basketcase. Who can we find? Good old New Zealand.\xa0

Pandoro announced Friday they are closing in Wellington. They aren't the first obviously. There has been a growing business lately on stories about closing hospitality in the capital.\xa0

The owner was interesting. It seems it\u2019s a mix of Covid as people went home and not everyone came back, but also of cycleways and bus lanes killing traffic and road cones and construction closing roads and therefore access.\xa0

Obviously, the economy is in there too. So the question then becomes, just how badly do you want to hobble your city's prospects?\xa0

In Wellington they are laying them off left, right and centre as well. So a lot of people at home, a lot of people losing their jobs, a lot of places you can't get to and an economy going backwards. Good luck selling ciabatta.\xa0

On the hospitality scene, a lot of people come and go, as they always have, just like construction.\xa0

But when the names are a bit well known that always catches you a bit, doesn\u2019t it?\xa0

Smith & Caughey's, or in Wellington's case you've got Kirkcaldie & Stains and Pandoro, they're names that have been around, survived a lot and seen hard times.\xa0

Yet this time they can't do it.\xa0

What's that tell you about how badly this place has been wrecked?\xa0

So badly, that we make international headlines for it.\xa0

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