New Zealand government is borrowing on our behalf to pay the interest on the debts they’ve already accumulated.
Watching this “debt clock” you don’t have to be an economist to feel this is heading for disaster!
It says New Zealand debt as percentage of GDP is 43.2%, but this other site tells a different story:
I haven’t noticed anybody discussing the situation objectively in this country, so let’s compare with Australia.
Australia debt would be “only” 32.5% of their GDP, but the other site paints a more foreboding picture:
Here is an Australian talking about looming economic collapse.
The bit I find unconvincing is that he assumes moral standards can only come from religion, when clearly evolution could produce instinctive or cultural morals that benefit survival. In fact the irony is that religion itself could be a product of evolution!
None the less, regardless his religious beliefs the economic analysis could well be correct.