Black Monday hits New Zealand

avatr Mana News editor Joe Trinder

Under Government supervision the New Zealand economy is trying avoid talking itself into recession. State broadcaster TVNZ didn’t notice China our primary trading partner’s economy fall over.

CINA

China stock market plunged on Monday after a 9 percent dive approximately $5.5 trillion dollars, this has affected the New Zealand share market. The S&P NZX 50 was down 143 points, or 2.49 per cent, to 5616. The market lost  $2.25 billion off the market’s total value.

In July the Chinese stock exchange took a 5.9% plunge of approximately $3.5 trillion dollars. The Chinese stock market crash has been described as far worse than the 1929 stock market crash as that happened over months. China’s stock market has dropped by 30% ($3.4 Trillion) in three weeks of july.

TVNZ One News has been silent on the Black Monday financial crisis to protect the perception of a so called rock star economy. To find zero story’s from TVNZ on Black Monday click here 

If Bill English the Finance Minister had not of borrowed $100 million dollars, treasury would have the capacity to protect the economy.

The New Zealand Debt Clock reached $100 billion NZ dollars of government debt. That calculates to to $25,000 debt for every Man, Woman and Child in New Zealand. Equal to 50 per cent of New Zealand’s economic output.

NZDebtCrisis

  • The $100 billion this Govt borrowed got us out of the last brush with Recession. Money well spent thinks Key. Fontera have a whole lot of flash new trucks to carry around in. Plenty of logging trucks have the big H sign on them. Auckland houses are worth way more than they are worth. The TPPA is set to pounce on us and give the Super Rich US Corporations Super Powers. What can go wrong?

  • olivertuau

    Awesome informative articles, every single time! Keep it up Matua Joe, because only the truth can set us free!

    Sharing to facebook now.