Wednesday, February 22, 2012

New Zealand. The Land Of Plenty. Of Debt...

New Zealand Government debt,
has for the first time in the country's history, topped fifty billion dollars.
As a nation, we owe the rest of the world one hundred and forty billion dollars.
The photo shows the Prime Minister John Key congratulating his Minister of Finance,
Bill English on managing the economy so well...
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  1. This is the first image of two New Zealand made robots shaking hands in space and was fittingly greeted with awe across the land. Each robot commented to the other about the the need to advise their designers back on earth to beef up their grip strength as the power and take-off of their craft required a firm grip on it's main drive component. Note the general layout of the craft's control module is both comfortable for action and capable of supporting both humanoid machines while recharging.

  2. Would like to know how much we owe individual nations and does any nation owe us? Do either negate the other?
    How does America stack up?...
    What about United Kingdom?...

  3. Dear Andrew.
    An excellent question and I'm so sorry I'm not able to give you an answer.
    I suggest you ask Mr English, not that he's likely to know either but he's sure to pluck some random figures out of the air as is his style.
    Some of his answers have been known to be within 50 percent of the eventual correct figures...

  4. What I don't understand (ok, call me naive) is: who is the money owned to? Do NZ owns money to UK, who owes money to US, who owes money to ??? Maybe be if they (gulp) cancelled everybody's debts that would help? Or are there money institutions over which no-one really has any control at all and governements are really slave to? Or maybe Martians....Told you you could call me naive!

    As to the answers from Mr English, his answers are generally 50% lower than the final figures, at least, or even totally way out!

  5. I think someone robs Peter to pay Paul but who would know.
    Certainly not me...

  6. All governments, left, right and sideways, either print money themselves or allow banks to create money by lending twenty times more than the the money in their customers accounts. They create money out of thin air and you pay for it through inflation, your dollar becomes worth less. As their dollar is devalued (as there are more of them) it is less difficult to pay off the debt that any country or bank owes.