We keep hearing about our rockstar economy.
Current New Zealand debt stands at $86 billion. Interest is $4b per year or $135 per second. Each man woman and child owes nearly $19,000.
In 2008, debt was 5% of GDP, now it is around 30% or an increase of 600%.
People say Bill English is a steady hand, at what is the question? He has steadily put more people into poverty so maybe he could work for the social agencies that he expects to look after his rejects.
How can we be expected to believe we have a surplus when we have so much debt?
Productivity will never improve under the current employment system where 20 hours is classed as a job. A job should be 40 hours per week as it was a few years ago. If a person is working only 20 hours they can only be classed as 50% productive. Also we can hardly expect productivity to improve when we only want to pay people the minimum for as long as we can get away with it. I have a workmate who has worked in the same company for 30 years but is paid around only $3 more than someone off the last flight from India with no skills, loyalty or experience. We will train and upskill the new New Zealander then he will leave for Australia as soon as he can get a New Zealand passport.
This is a picture of a rockstar economy.