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Media Release

Tuesday 23rd  September 2008

It’s about debt

“This election is about debt,” says John Pemberton, Finance Spokesman for Democrat for social credit ( DSC ). “A stampeding bull elephant, the debt- fuelled world economic crisis, is about to stomp on New Zealand.”

“We have escaped serious damage so far because of the relatively simple nature of our lending practices,” Pemberton explained. “But the bull elephant is getting closer.”

“At the end of March 2008, this country’s total debt was at least $492.6 billion. On average, that’s a debt of $115,937 per man, woman and child in New Zealand. A family of four shoulders a debt burden of almost $500,000, and it is going to go higher.”

“This figure includes personal debt, and the debt we service indirectly through taxes, rates and the price of goods and services. Debt is an issue that ought to be hard to ignore,” Pemberton says.

“And yet it is ignored. One major party talks about ‘trust’ and another one about ‘a fresh approach’ this election, while the media have a feeding frenzy over a minor party’s alleged financial peccadilloes.

“No-one is talking about the charging bull elephant, except for the damage he is doing overseas, as if it had nothing to do with us.”

“It has everything to do with us,” Pemberton says. “DSChas warned voters for over half a century that this crisis was coming. Now it is here, so what are we going to do about it?”

“Will it take the stomping of several bull elephants for voters to stop believing everything they read in the mainstream media and every platitude politicians in Parliament mouth?”

“We have been given breathing space; let’s adopt a financial mechanism that will pull us back from the brink of economic disaster.”

“Democrats for social creditis the only party that advocates such a financial mechanism -one that can save New Zealandand lead the world.”
ENDS

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