Friday, October 5, 2007

The Kiwi economy- down she goes!!!!!!!!!!!!!

Hat tip to Lindsay Mitchell today for publishing an indepth assessment of the New Zealand economy from businessman Rod Deane.
His "State of the Nation" shows how badly we have fared under Helengrad
as the bureaucrats in Wellington gobble up greater shares of our economy at the expense of the productive, weath creating sector.
The 'failed policies' of the 1990s looks quite successful by comparison.
The CIA World Factbook, which is surprising matter-of-fact and neutral in tone , also notes our slump in exports, down from 33% of the to just 24%.

Like many, I have noted the relative economic decline of New Zealand, noting how on my first stay here in 1995-96 I was richer here than I was in Britain, with the country apparantly having higher living standards.
By 1998 we were about equal but by 2000, Britain was ahead and from 2002 onwards the gulf was significant.
A similar gulf in wealth is now increasingly noticeable from my regular visits over the Tasman.
But what does New Zealand and its government intend doing about our slumping economy?
I recall around 2000 , Liarbour talked about 'knolwledge waves' and 'new economies' and getting New Zealand back in the top half of the OECD league table of developed economies.
Yet, such talk has disappeared and we keep on dropping and will do so further as we slip behind the fast growing economies of Eastern Europe. But yet we have no debate, thanks to a feeble media and Helengrad's iron grip on public debate. If the best the Sunday papers can offer on economics is Rod Oram and his neo-socialism, no wonder we are stuffed.
Somehow to talk about wealth and economic growth is seen as heartless, yet as Crusader Rabbit notes here, presenting a story on an Australian programme to help those with Autism (something I guess would be of great interest to Russell Brown of Public Address and David Cohen), you have to earn it before you can spend it.
New Zealand has done little earning, but it has been spending, which bodes ill for the future.
In the meantime, enjoy today's news of strife in the finance sector and a stalling housing market, which shows what economic growth we have had has been on very shaky foundations.
Thank heavens for our farmers!

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