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Thread ID: 116729	2011-03-17 20:59:00	Where is our future?	bk T (215)	PC World Chat

Post ID	Timestamp	Content	User
1187053	2011-03-18 08:40:00	The economies of The USA, Britain, Ireland, Italy, Spain, Portugal, Greece are sick, really sick, that is why the exchange rate for the $NZ appears to be holding up against these countries. Just because a number of nations have economic cancer to a worse degree than oneself, does not make it OK to be economically sick. A country can no more than an individual keep on borrowing more than it earns indefinitely and get away with it - the end result will be bankruptcy. Note that Ireland, Greece and Portugal are all technically bankrupt as nations, and the recent general election in Ireland reflects the anger of the average Irishman at having to live through a protracted period of austerity, when it was the Bankers and the "smart' money men who got them in this position. Don't get any ideas that our exchange rate against the Pound Sterling or the Euro is a sign of strength, both the British economy (a new austerity budget due shortly), and the bulk or the Eurozone economies are in dire trouble with unprecedented levels of public debt, and its still rising - Suggest you look at www.telegraph.co.uk - it gives a fairly good indication of how serious things are in Europe, if you can read German http: will give a good perspective on international economics from the point of view of the strongest economy in Europe	KenESmith (6287)
1187054	2011-03-18 11:00:00	We could stop buying so many LCD tvs We could stop banking with overseas owned banks We could insure with NZ owned companies . The government could start cutting back on Working for highly paid Families The government could stop giving out the ddb to new all new mothers from tomorrow . The government could start charging interest on student loans and make them pay the loans back before they leave the country . Plus about 20 other things . Not quite sure what insuring with NZ-owned insurance companies (are there any?) would actually achieve . I don't know of a single insurance company in New Zealand who would underwrite their own risk . Most, if not all, are underwritten partly or wholly by Lloyd's of London, as I understand it . A bad year for claims in China or Japan or Russia or America affects premiums all around the world . This also falls under KenESmith's family lawn mowing analogy . Insurance companies don't produce anything that is marketable in a foreign market . And the underwriting fees go offshore anyway . I agree with all your other points . . . .	johcar (6283)
1187055	2011-03-18 11:10:00	According to Bill English our current debt is 85% of what the country is worth. Link here:- www.radionz.co.nz	Snorkbox (15764)
1187056	2011-03-18 19:28:00	Never mind, I mis understood something, but I found this: www.nzherald.co.nz The deficit means foreign claims on the economy exceed New Zealand investment abroad by $166 billion or 92 per cent of GDP, a very high level by international standards. The bulk of that - $154 billion - is debt. Much of it is short term, which is problematic when wholesale credit markets overseas are not functioning smoothly. (2008 figure) So has there even been a change?	Cato (6936)
1187057	2011-03-19 00:44:00	There is really no hope...some years ago garages stopped selling "white spirit" ie the petrol type fuel for spirit stoves, now I found out this morning that the local garages don't sell kerosene from bulk any more. The garage hand suggested I went to Pak'n Save and bought it in 1 litre bottles. What is the world coming to I ask :punk	Terry Porritt (14)
1187058	2011-03-19 00:46:00	According to Bill English our current debt is 85% of what the country is worth. Link here:- www.radionz.co.nz Australia is 131% btw See we are better of than Aussie, everything is just fine en.wikipedia.org	Battleneter2 (9361)
1187059	2011-03-19 02:41:00	Our borrowings run to something along the lines of $300 per wage-earner, per week, every week. This excludes the bludging 'taxpayers' on benefits from the definition of 'wage-earners', as they are doing nothing to generate any of the money that will repay this lot. Then there is the interest on all this money to pay before we can begin to try to reduce the debts. So - how many households here believe they could part with an additional $300 for every wage-earner in the house, every week of the year in order to simply stop the rot? Not many homes I'll bet. Two questions come to mind: 1) with all this borrowing worldwide - who is providing the monies? Who are our creditors? Oil producing countries? Gadaffi? USA' billionaires? Bill Gates? 2) If half the country jump the ditch to Aus in order to dodge our debt (and there's nothing to stop them doing so) - then the debt per person in NZ doubles, and becomes insurmountable. So... should emigrating Kiwis be levied a tax for their share of the NZ debt burden that they will no longer be supporting? If someone owed you $40,000 would you be happy to see them leave the country, possibly never to return? Getting a free education and free health care should justify some form of recompense to NZ as a whole. As for saving money - well for starters, our international broadband provision should be 100% government owned - coz we're getting ripped off terribly. New electronic devices (tech toys such as phones, computers, TVs, audio gear) should have an extra tax attached - particularly if their likely service life is less than a decade - to discourage disposal and replacement when not really necessary. Toys and other cheap-as imports should be better quality controlled. Crappy products should not be the majority of the retail sectors business. Petrol (oil) sourced from overseas should be taxed even higher. Tax on locally sourced fuels could possibly be reduced. We could get stuck into re-establishing our forest plantation rate. And yes, all timber leaving the wharf should already be milled to suit the target market(s)	Paul.Cov (425)
1187060	2011-03-19 05:03:00	Have a look at nationaldebtclocks.com National Debt ( ie Combined Government, ) New Zealand - Approx $NZ183 Billion or $41,805 per citizen Australia - Aprox $A121 Billion or $5428 per citizen Ireland - Euro 97 Billion or Euro 27,750 per citizen but It is The level Govt and Banking Debt that has driven Ireland into the IMF and EU Rescue Package Greece - Approx Euro 324 Billion or Euro 28750 per citizen. Italy - approx Euro 1.86 Trillion or Euro 30850 per person Spain - approx euro 569 Billion or Euro 12377 per person Portugal - approx Euro 145 Billion or euro 13512 per person Germany - approx 1.86 Trillion Euros or Euro 22327 per person UK - Pds Stg 1 Trillion or Pds Stg 16168 USA - US$ 14.28 Trillion or US$45,957 How serious is the debt, for most very, if the economy is not sufficiently strong enough to pay the interest and clear the debt over time - for many Governments it is revolving credit, ie debt is not cleared it is recycled. The Euro is weak because of PIGS ( Portugal, Ireland Greece and Spain), with the Portugal Ireland and Greece Economies now under EU management with appropriate austerity measures. Germany's debt is high, but they have the strongest economy in Europe, and it is the German and French Economies that are holding up the Euro. Britain's economy is in serious danger due to a total lack of fiscal proberty by the Blair and Brown Labour Governments, and major cuts in public spending have been implemented,( eg Police funding cut by 20%) and there is a very tough austerity budget to be released shortly. The US economy is continuing to stagger along with little or no improvement under the guidance of the worst president in a century. Australia has a very strong economy, and due to the financial probity of the Howard Government, Labour inherited a 90 Billion Surplus, which they managed to turn into a 141 Billion deficit by the end of their first term ,and Labour in Australia are showing no inclination to curb in. The bulk of the international corporate debt is for the development of Mining industry to take full advantage of the minerals boom that Australia has enjoyed for the last 2 decades. While NZ's figures relatively speaking are not as bad many as others, especially in the Euro zone, the critical matter is the ability of the economy to service the debt. The Christchurch earthquake has merely compounded the problem.	KenESmith (6287)
1187061	2011-03-19 07:24:00	Well here’s my version of what’s wrong with the country . :2cents: It’s bogged down with B…l S…T! We have more Public Servants (that’s a misnomer) and Bureaucrats holding up production than probably anywhere in the world . Here’s an example . In Tauranga the local Council will charge you $19,000 in fees just to build an average three bedroom home . Then, after all their approvals, it leaks like a sieve, the drains block, or whatever, they don’t want to know about it . Now, this is just one example which is multiplied a thousands of times countrywide . And for a bonus, think about the effect of all these Health & Safety zealots who believe that getting out of bed in the morning could be dangerous . What do they cost industry without producing a $ themselves . My thinking entirely, interesting that things work at all in spite of all the dross .	Cicero (40)
1187062	2011-03-19 08:31:00	Have a look at . com/newzealand . htm" target="_blank">nationaldebtclocks . com National Debt ( ie Combined Government, ) New Zealand - Approx $NZ183 Billion or $41,805 per citizen . That is absolutely horrifying . That is $41K for every single resident -every child, every pensioner, every beneficiary . So it adds up to about twice that amount for every worker . How does it feel having $80K added to your debt burden? You didn't ask for it, but you're gonna have to pay it off . Oh yeah, and pay of Christchurch while you're at it . You're made of money after all . Enjoy!	Paul.Cov (425)
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