expat> the yanks are...

At current course and speed, yes you're right. So course correction will occur and that correction will be painful, less so the sooner they take effective action. The gist of the conclusion is politicians have known about this for ages but are too scared to take action therefore it's up to 'we, the people'

As I mentioned in my original post, I particularly like the SNL clip in the middle

"Did you know that millions of Americans live with debt they cannot control? That's why I've developed a revolutionary new programme for managing your debt."

"It's called 'Don't buy stuff you can not afford' !"

One good thing is at least NZ moved away from goverment cash accounting about ten years ago so the fully accrued unfunded cost of future promises shows up in government liabilities.

Richard, "its called dont buy stuff you can't afford" you repeat this in the tone that all the debt that the basically decent majority of common folk owe is all descrecenary. Sure there are fiscally irresponsible individuals out there, but there are many out there doing just as they have been asked. Yet are still having their efforts and the resources stolen out from under them by debt that is factored into the pricing of everything they buy, debt that is taken on by government in monumental ammounts they have not a clue of or are ever consulted on. Throughout NZs short history we have been regularly forced to sell assets to our bankers at quickfire bargain prices when we could not make our repayments.
Your claim that all government debt is much more transparent than days gone by is a falsity. The occurance of on book and off book debt within the treasury accounts and anonmous credit line facilities with the central banks makes the task of putting a figure on our true current account deficit immensely difficult.
If you study hard enough you learn that the foreign lenders refered to in the above clip are the internationalist private banking conglomerate. You learn that the common majority of every nation via their taxes is in deficit to the central bankers while a small few who collude with them are reaping the rewards. These few are the only elements in the system truly running positive account balances, funds which they then use to participate in the modern day slave trade which is the Government Bond Market.
Government Bonds are certificate of indebtness that contract the common majority to repay the bogus loans of central banker electronically created credit out of the future taxes of the nation with compounding interest attached at a set time in the future.
The only time America has had true positive balance of payments that saw them free themselves of the burden of national debt was when they had leaders that used their legal right public credit facilities to reduce the impact of private bank created credit upon their system.

Hey Iain, I think you should be really careful in promoting a view that a particular minority group are conspiring to be the cause of pain for your 'common majority'

This is exactly the argument used by the National Socialists to target the Jewish people, the intellectually handicapped etc., and used by the Bolsheviks to target basically anyone who wasn't a manual labourer.

Your argument that one group are to blame promoted extreme evil resulting in 20m murdered by the Nazis and 100m murdered by the socialists in Russia, China, Cambodia & N.Korea

You're on dangerous ground, in my view.

Cheers

RichardE

Calm down boys - let's move back on to the topic. You are being watched and that is no conspiracy theory :-)

Bryan

Web Community Manager

Richard, you are an absolute scream.
Fascism has been the predominant social condition. Where the basically decent majority by overt slavery or financial cunning end up subsidising the bad few.
I have never been as gross generalist as to say that the elitist few rip off only the workers. I have always gone to lengths to make it clear that my Realsector includes anyone of decency, whether that be the fair and reasonable businessmen or the law abiding worker. My false sector includes any criminal from top to bottom.
Nor am I for a minute advocating that no one who labours harder or produces more not be allowed to accumulate more of the means of exchange(money) just that no one should be able to counterfeit the means of exchange out of fresh air and use it to hold wider society in servitude.
Capitalism and Democracy have been as much eroded by rorting slaveminded white collar crims as it as been when indecent rorting elements got control of the unions.
Any system thus far put forward, peacefully or violently, to try and break the predominant mold of Fascism have never stood a chance as they had the noose of bankers credit around their necks getting ever tighter. The best drug put forward so far to combat this repetitive malignant tumor has been the Public Interest Free Based Monetary System. So I say lets get in the laboratory and make it stronger.
Those wars and those deaths you mention had far more to do with commerce and trade from which the slaveminded few sought their disproportionate profits than any clear cut cause of freedom for all.
As for violence, it only breeds more violence. I live by my motto of the diplomatic revival of common decency, equal opportunity to financial dignity for as many as possible and the umbrella of a rule of law that treats all the same.