Bernard does an excellent teardown of Luxon's doom loop. Aotearoa's net public debt is one of the lowest in the OECD and the Crown has a solid balance sheet.
It's the private sector that's leverage...
I’ve been reading Ray Dalio’s book on debt cycles and he describes the different effects that various government interventions have on the economy. Austerity is the worst and due to the negative effects on the entire country is usually reversed quickly, like within months. This bloody coalition have been forcing austerity on us for three years and grinding us to dust.
We’re 30% of the way to post-Brexit UK and they’re doing very poorly.
https://youtu.be/SoKr0QVCLPA
@nprofile1q... #NZpol
We’re 30% of the way to post-Brexit UK and they’re doing very poorly.
https://youtu.be/SoKr0QVCLPA
@nprofile1q... #NZpol