The Norwegian housing market is in a huge bubble about to implode, which affects everything from the labour to the stock market. Therefore, I am wary to invest locally (the only big business I see has bright prospects is salmon farming, but they are ruthlessly polluting our fjords - it's not where I want to put my money).
So paying off debt is still the route to go? I've been thinking to gamble on Russia, and I could bite myself in the a* for not jumping on the currency wobble when the rouble collapsed, only to jump 20% a couple of weeks later. That was highly predictable.
@akaD, I'm surprised that Australia is almost similarly affected. Commodity economies are hard hit by slight downturns...