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| Thread ID: 104030 | 2009-10-14 17:48:00 | Bill English is going to borrow 250 mil a week ! | Digby (677) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 820539 | 2009-10-14 22:08:00 | Pretty much every country has to borrow money on the open market, even if they are running a surplus because a country usually does not have enough cash on hand to operate (Taxes only come in at selected times of the year so its not constant). Besides, if you can borrow money at a cheaper rate from another country/institution and then use your money for more lucrative purposes, doesn't that make sense? |
beeswax34 (63) | ||
| 820540 | 2009-10-14 23:22:00 | Yes that is true, but there was a global depression when National was in, then things picked up and Labour were able to pay the debt back, but then they did nothing to build NZ up. You sense a trend here? National in power, global depression? :rolleyes: |
the_bogan (9949) | ||
| 820541 | 2009-10-14 23:38:00 | No | prefect (6291) | ||
| 820542 | 2009-10-15 00:12:00 | Fixed that for you Jimm... EDIT: And then you changed your post completely!! Yeah I read it and decided to change it. |
convair (13650) | ||
| 820543 | 2009-10-15 18:10:00 | What is truely scary about this borrowing is the burden that will go onto wage earners and businesses to pay it all back eventually (plus interest). Factor in that this $250M per week is for every NZer, but more than half of those people do not generate a taxable income with which to repay the debt (ignoring the pseudo-tax 'paid' by beneficiaries, which is really paid by workers). So that $250M per person is more than $500 per worker per week, coz the school kids aren't gonna pay off their share of it, neither will the unemployed, DPB, retired masses. So for some workers the amount of debt being racked up against them far exceeds their weekly pay, and is many many times higher than their weekly tax contribution. So a year of this generates $25,000 of debt per person, and more than $50,000 that each money generating worker has to generate (and lose to taxes). This is way beyond sustainable or wise borrowing. It's time to tighten the purse strings. Stop funding $25,000 surgeries via the public health system for a start. |
Paul.Cov (425) | ||
| 820544 | 2009-10-15 21:23:00 | Well said Paul. Cov. I think Bill should be looking at building up the economy, that way there will be less dole, and more tax etc. |
Digby (677) | ||
| 820545 | 2009-10-17 00:46:00 | Well said Paul. Cov. I think Bill should be looking at building up the economy, that way there will be less dole, and more tax etc. Exporting is the only way for NZ to make money, and become rich. However current policies mean exporters are struggling/failing |
robbyp (2751) | ||
| 820546 | 2009-10-17 02:26:00 | Exporting is the only way for NZ to make money, and become rich. However current policies mean exporters are struggling/failing Yes it makes me laugh when politicians and economists say that if the dollar drops exports will pick up! (as if by magic) What if they closed or went broke or could not be bothered taking the risk of exporting cos of the high dollar. Companies don't just sit there or exist to export and create jobs for us. They exist to make profits for their owners. Overseas govts seem to offer exporters incentives. |
Digby (677) | ||
| 820547 | 2009-10-17 23:07:00 | So...$250 Mill X 52 weeks =13,000,000,000 a year. Mmmm I think I could live on that, Bill. But can NZ ever pay it back? Still I suppose there is voluntary bankruptcy.Did the Labour Party ever borrow this much money? Another thing I saw on TV last evening news. Himself advising the Rugby Board to be careful how they spent the taxpayers money!! Right...good one Bill...now about that house you are renting!!!!! PJ:(:confused: |
Poppa John (284) | ||
| 820548 | 2009-10-17 23:52:00 | Let us remember these are unusual times,they don't borrow by choice. | Cicero (40) | ||
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