The upside down world: tens of billions of dollars leaving NZ = an improvement?
In the upside down world of neo-liberal economics this is seen as being a bad thing and “the experts” fervently wish for the normal scenario of tens of billions of dollars leaving NZ and a soaring current account deficit to resume as the economy “improves” (for whom?). But this unusual state of affairs, just in time for Christmas, has given New Zealand workers and taxpayers a tantalising glimpse of what this country could actually be like if it wasn't run as a branch office of the transnationals and bled dry in the process – money would actually stay in the country, where it could be used in the national interest. What a thought.
|Go figure: If not for Canterbury earthquake there’d be a |
$1.8 billion deficit for the September quarter