Rogernomics
Sir,—Who does Mr Douglas think he is fooling when he claims we are on the way up, with inflation, interest rates and the number of unemployed declining? Our debt is $45.58, with debt-servicing costs, expressed as a percentage of our goods and services, at 80.3. This has doubled from 39.6 per cent in the past four years. Future generations will have bitter cause to remember the names of Douglas and Muldoon. They could be forgiven if they regard these politicians in the same light as King Canute. He really believed he could turn the waves back.
while our merchants of debt believed they could borrow their way out of debt The-only people who benefit from Rogernomics are the money-lenders and their friends, and not the people who voted Labour into office. Rogernomics is doomed to failure because it is based on the rotten foundations of unrepayable debt. — Yours, etc., R. WILSON. Hokitika, May 9, 1987.
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Press, 15 May 1987, Page 16
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156Rogernomics Press, 15 May 1987, Page 16
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