New Zealand Herald 8 July 2011 has the above as the lead headline on page 2. The article continues with " Generous pensions wrong while children are living in poverty, medical trio say".
New Zealanders are locked into a "them or us" mentality, instead of a "If we can afford it for them, we can afford it for us as well".
Logic suggests that if New Zealanders desire particular outcomes i.e. to provide super to those over 65 years and to spend up on kids health or on any other desired outcome, then the financial system should enable those outcomes to be financially possible - subject only to the availability of people with the necessary skills, technology, resources and that all projects are also environmentally sustainable.
New Zealand's Central Reserve Bank is STATE owned. Despite that, instead of being used for the benefit of its owners, the people of New Zealand, successive Governments have: Allowed the foreign-owned trading banks to create and issue nearly all of the nation's money supply and claim it as their own. Notes and coins make up less than three percent of the money in circulation. Ninety seven percent of our money supply is on loan to us at interest from those banks. Actively encouraged banks to charge "rental" for this money at some of the highest interest rates in the developed world. Used high interest rates as a blunt lever to control inflation, while agreeing to exclude the resultant costs from the Price Index, so that their cost-inflationary effects do not allow pensions and awards to compensate for these. Deliberately used interest rate fluctuations to maintain an unemployed "pool" of about four percent of the workforce in order to hold down wage rates. Fa...
Comments