Economic weather report: NZ's rapidly expanding foreign debt
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2:51
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50 years ago NZ was one of the wealthiest countries in the world. Then along came a brain dead Australian called Michael Savage. We were all brain dead too, we voted him in as Prime Minister. He introduced social welfare. Now we have a bankrupt broken country. We hold out a begging cup to foreign banks.
We work and pay our taxes for a secure future, not to have it spent now on those that don't work, or don't want to work, or can't work, or don't know the meaning of "work". No welfare No debt.
j0n52 2 years ago
Must have another look at them ...Currrent account deficit is 7-9 per cent GDP 140 ...per cent >why was the government allowed to aencourage that last boom ...They should be charged with treason or something ..scurvy knoaves tghrough NZ to the sharks and now Culklen `n Clark have hurriedly jumped in a life boat and are goiing to save all those poor starving Africans..etc ...What a world
bellpawt 2 years ago
140 percent of GDP ...I thought that it was seven per cent -or nine ..
bellpawt 2 years ago
How much is too much? Having just bought a house, we now owe 200% of what we earn in a year and the bank thinks we are wonderful and desirable customers. We'' pay that off in 4-5 years at most.
linuxluver 2 years ago
Gdp will decline, therefore dept to gdp will rise.
and the increase in borrowing at the same time as the decline in gdp.
keithholden 2 years ago