Posted by Mairt on August 26, 2011 at 08:35:44:
In Reply to: re: bad bank lending at the root posted by Moo Moo GadaFFii on August 26, 2011 at 01:01:25:
Current deficit (what the country spends in one year minus what it earns) arises from short sighted political policies in terms of state services and associated spending. The ability to implement these poor policies was fuelled by the reckless lending and revenue generated by the recent boom.
Oh, and we elected the local and national politicians you correctly complain about.
No one can say they didn't realise voting for auctioneers to become local councillors wouldn't result in a conflict of interest when it came to making development decisions.
There might be more of an argument to say we didn't realise what our national politicians would do, but we voted them in multiple times when we saw policies they were pursuing.
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