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Monday, 11 September 2023

"At some point the kind folks who are funding our lifestyle will discover that we are insolvent."


"The key data point here is that since the GFC, Wellington has been piling on debt like there is no tomorrow; because when you are running on a three-year electoral cycle, there really isn’t....
    "Because we can no longer afford to pay our own way we borrow heavily. Not just the government; all of us. Our trade deficit is 8% of our GDP and the crown accounts are a mess. At some point the kind folks who are funding our lifestyle will discover that we are insolvent."
~ Damien Grant, from his column 'Skycity had a nasty tumble, and Prefu could bring the same for NZ economy'

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2 comments:

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