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Debt as money
Dear Editor
In today’s papers are half page ads from National claiming they are building a brighter future by balancing the books, repaying debt and creating more jobs. The claims made on the ads are misleading.
In fact according to a business news item this morning National is intending to borrow another $13.5 billion through 10 year bonds and run deficits for the next decade.
As for more jobs how can that happen in an economy which can only grow if people can afford to buy stuff and given National is promising an austerity regime, wages are not going to keep pace with prices and interest rates are going to go up.
Unless the debt as money problem which caused the global and local crisis is addressed the brighter future is in fact going to turn into a blighted future for a growing number of NZers.
Advance New Zealand
Trevor
Crosbie
ENDS
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