Kiwis have been mass debters since the late 60's. We were sucked into the capitalist consumer bullshit and continue to think we can spend our way to happiness without recourse. That's your fault, my fault and the fault of all the Kiwis who buy crap they don't need and submit to ass reaming by foreign lenders.
The housing collapse is partly cyclic but mainly a flow on from the collapse of the even heavier burden on the world of Yank borrowing systems. It aint the fault of Labour, National, the Greens, ACT or anyone else. They could do something to ameliorate it though; they could start to understand that a primary need for human beings is shelter and security and stop punishing us for wanting to have a home of our own instead of putting up with landlords who'll fleece us and kick us out when a buck cam be sniffed. Again, Chicago economics are greatly to blame.
The rail should not have been sold. Even National now accept that we should own rail and the price is the price in a capitalist system. In a few years or decades, another right wing party will engineer a way to sell the crown jewels again and shortchange us for the privilege.
Communication, transport, health, housing, water, energy: these are fundamental services that should never be left to market forces particularly if those are foreign market forces. The result is always us being screwed for the basics of life. Foreign owners don't give a rats arse for NZ society beyond the profit margins they see. Funding broadband so these same companies can fleece us for the asset we buy is insane: if they want it, let them build it.
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