10 June 06

Editor
Kapiti Observer

According to the latest National Party propaganda being
letter-boxed, signed as a personal message from Brash, a
National Government would ?borrow wisely to help pay for?
big projects ? like every household does.?

Households borrow because we?re taught that living beyond
one?s means is a desirable goal. Many seem to have been sold
on the idea that getting into hock to money lenders, working
for years to pay the interest on a mortgage, and expending
vast amounts on credit card interest is ?wise? economics.

The National handout quips, ?who pays cash for their house??
Who can afford to pay cash for a house? It?s deplorable that
debt-free households aren?t the norm, and that most have to
pay their pound of flesh to Shylock, for a banking system
that is entirely parasitic. However being in debt is now
regarded as being a laudable circumstance. What a con.

As for ?borrowing wisely for big projects?, surely Brash as
an ex-Governor of the Reserve Bank knows enough about
economic history to realise that a ?wise? option does exist,
and that?s for the nation to create its own credit?

K R Bolton
New Right