It's party time for National as New Zealand's overseas debt reached an astounding $100 Billion Dollars this year and in the process have delivered 7 budget deficits in a row since 2008 (that's every year this term). Amazing when you think that only 7 years ago NZ's overseas debt was less than $20 Billion.
That's right, it is 5 TIMES GREATER now.
In response the Politicians with their mainstream media repeaters will calmly spew out the same "NZ has a Rockstar economy" story and most of the NZ Public will believe it - so no worries!
But, what does "Rockstar Economy" actually mean? Sounds like some fancy-schamancy financy term aye?
Well let's try it another way:
"How's your mortgage?
"Really good mate! I have a Rockstar mortgage!"
Doesn't mean anything bro.
My partner and I like to share the good news. Your comments are welcome.