Tuesday, April 15, 2008

Equality through bankruptcy

This observation by IIQ is good:

This past week we are starting to see the successes of Labour's economic management in helping the lower and middle class of New Zealand get ahead:
   "Other data collected by property experts shows mortgagee sales nationally rising almost 20 per cent in the past week as banks foreclose on families and property investors hit by crippling interest rates and the rising cost of living." [NZ HERALD]
Labour - creating equality through bankruptcy.

2 Comments:

Anonymous Anonymous said...

How do all the Labour Party noddies, who have been trumpeting the Governments sound economic management, begin to explain this?

4/15/2008 09:38:00 am  
Anonymous Elijah Lineberry said...

The obvious explanation...that for a couple of years house prices have been unaffordable for first home buyers, and home ownership unaffordable for those with small deposits/equity and large mortgages and so the market is speaking, the market is bringing things back into line...is, ironically, the one thing the Labour Party will probably end up quoting!

A free market in action.

4/15/2008 02:42:00 pm  

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