Here is a rejigged cartoon I did awhile back - nothing much has changed since National took power. As a country, we have been spending more than we earn and National has been borrowing to pay for reducing taxes for the rich, impoverishing low income earners and creating the appearance of prosperity. But as Greece discovered, debt is debt and so we and the coming generations are unnecessarily being saddled with the burden. To see what I mean, check out this link - http://www.nationaldebtclocks.org/debtclock/newzealand - if true, Kiwis owe over $19,000 per head and rising.
Tuesday, May 19, 2015
The National Government continues to timidly tinker with measures to control an overheated housing market. Many New Zealanders are wondering why he does not support restricting overseas buyers (and capital) and reduce immigration to choke off excess demand. The USA and Ireland had a similar to problem NZ and suffered when the house price bubble burst and plunged them into a bitter recession. Sadly, recessions affect the whole economy and it seems John Key is blind to the experience of other nations and even our own history!