Friday, 6 May 2022

"There was a time when a community would understand that with a more or less fixed resource base, the more the government spends the less is available for the rest of us."




"There was a time when a community would understand that with a more or less fixed resource base, the more the government spends the less [is] available for the rest of us. They would also have understood, perhaps only dimly, that governments cannot manage productive forms of enterprise.... The government is desperate for money to cover the massive debts it has wracked up.... they are going to have to cover their debt from the only source available, from the people who live [here]."
~Steven Kates, from his post on Australian Interest Rates and [Their] Deficit [NZ graph from Trading Economics]

1 comment:

  1. If you want a dose of optimism and realisation that communities can still come to understand this truth, watch ‘Servant of the People’ on Netflix. It stars Zelensky, then an actor playing the role of Ukraine president, but playing it so well and exhibiting the virtues of honesty and probity so convincingly, that the people wanted him to become their real life president. Based on what I’ve watched so far I’ve concluded this is a nation destined for great things, despite (and in some respects because of) the current horrors they’re suffering.

    ReplyDelete

We welcome thoughtful disagreement.
Thanks to a few abusers however, we (ir)regularly moderate comments.
We *will* delete comments with insulting or abusive language, unless they're entertaining. We will also delete totally inane comments. Try to make some sense. We are much more likely to allow critical comments if you have the honesty and courage to use your real name.