Even down in "middle-earth" things are grim...this** came out last week.
Nothing remotely as bad as what the USA experiences, but still...many are scrambling for cognitive dissonance pills down here in NZ at the moment, as we have national elections in six weeks time.
** "...Among those in the poorest half of the country, meanwhile, the a…
Even down in "middle-earth" things are grim...this** came out last week.
Nothing remotely as bad as what the USA experiences, but still...many are scrambling for cognitive dissonance pills down here in NZ at the moment, as we have national elections in six weeks time.
** "...Among those in the poorest half of the country, meanwhile, the average person owns assets worth just $46,000 and has debts of $33,000, leaving them with a net worth of $12,000. They have negligible wealth in trusts and on average just $4,000 in the bank, leaving them vulnerable to sudden financial shocks..."
"...Overall, the wealthiest 10% have 59% of all the country’s assets, and the middle classes around 39%. That leaves the poorest half of the country with just 2%...."
Even down in "middle-earth" things are grim...this** came out last week.
Nothing remotely as bad as what the USA experiences, but still...many are scrambling for cognitive dissonance pills down here in NZ at the moment, as we have national elections in six weeks time.
** "...Among those in the poorest half of the country, meanwhile, the average person owns assets worth just $46,000 and has debts of $33,000, leaving them with a net worth of $12,000. They have negligible wealth in trusts and on average just $4,000 in the bank, leaving them vulnerable to sudden financial shocks..."
"...Overall, the wealthiest 10% have 59% of all the country’s assets, and the middle classes around 39%. That leaves the poorest half of the country with just 2%...."
Source: https://www.theguardian.com/world/2020/aug/31/new-zealands-astounding-wealth-gap-challenges-our-fair-go-identity
Friedman and Hayek have a lot to answer for.