It's best not to defend the indefensible. Good idea: <...not going to debate your rant on Islamic Jihad....get that clear.>
New Zealand's immigration rules have been tightened. Unfortunately, it was after the horse had bolted. But better late than never. Now we have huge costs to fund the welfare system bludgers and low economic value people from around the world. It's not that we were in short supply of such people already, without more from overseas.
No wonder the GDP per capita has been sliding way down the OECD leaderboard.
Doing politically stupid things year in year out doesn't help either. The flood of productive escapees to Australia and elsewhere is growing, leaving the state trough feeders to fight over the remaining productive people.
Meanwhile, if the sub-prime mortgage market is a problem in the USA, it's seriously large in NZ, with umpty $billion borrowed from Japan to buy houses which people won't be able to afford as interest rates rise and they lose their jobs.
Salaries, rents, house prices, interest rates, exchange rates, trade deficits, GDP per capita, money printing, are out of kilter. Something has to give. It will be ugly.
Mqurice |
