Originally Posted by LoCarb

OK, I can see you think it's a money problem (along with most governments), to quote: 'money problem or resource problem', so nothing will happen except increasing the pension age a little and meaninglessly salting money away in a Cullen Fund, when what needs to happen is clearly explained in the video.

We don't need a Cullen Fund (the wrong solution) we urgently need an "invest now initiative" to improve productivity, build up resources and increase real wealth in anticipation of an aging population.

But as long as we don't understand our government's finances and how it is completely different from "the government's just like a household" analogy, the wrong solution will be applied and debt-deflation will continue to eat away our future.

As you say "we can just ignore it, she'll be right" which is in effect what we are doing.

Originally Posted by chocolate cake

No, I just say it's semantics. A similar working population 'resource' will have to provide for a far far greater % of aging retired population. That to most minds is unquestionable.
Ignoring the problem won't make it go away.

My point is we can future-proof by building up real resources now, not stashing away money. However much money we save, if the resources aren't there to purchase it will be useless.

The prophet in the video doesn't offering much in the way of a solution.

I find MMT has a positive solution.
As opposed to your solution: increasing retirement age a little, competing with the young for work. Apart from that, doing nothing.

Well I guess we can borrow more, not a long term solution or maybe indulge in a large amount quantitative easing and issue loads of money = Zimbabwe inflation.

Does the government actually "borrow money"? No it doesn't.
Why would it need to borrow the money it alone issues, the NZ dollar.

The Zimbabwe analogy is a red herring.
You have to totally destroy your productive sector, as Zimbabwe did to create hyper-inflation. Nothing to do with printing money.

Ditto Wiemar Germany.


Back on topic, a relief to see the new PM isn't going to be Judith Collins.

Originally Posted by LoCarb

I'm sure you have

Not implying you were one of them, but a new documentary just broadcast in the UK set to revisit Slum Britain and find out how, some 50 years on, the subjects of those iconic images are faring now.

The slum children who shocked Swinging Sixties Britain: Fifty years after images released, how did their lives pan out? - World - NZ Herald News

Originally Posted by SSky

My husband grew up in the same sort of environment that some of those families did. His family was large and some of the photos of him and his brothers and sisters shock me still. They lived their life in wellies for shoes and never had enough to eat so they're all rake thin. He spent his first wages on cooked chicken ... makes me so sad for him when I think about it.