At last we have arrived at the point where the most conservative proponents of market economics admit that the past 30 years has resulted in a serious distortion of our tax regime.

Now the dust has settled on 'Double-Downgrade Day', it's worth looking at what it all means.

On Friday, two of the three main global "credit referees" gave New Zealand its first sovereign ratings downgrades since 1998. The reasons given by both refs were the same.

Want to know the key to greater business success? Put their shoes on.

Bernard Hickey with ten questions about the European debt mess and what it might mean for New Zealand.