I always like to check out David McWilliams's web site every so often to see what he has to say, as well as to read some of the surprisingly cogent comments attached to his blog entries. This recent article by David is a good synopsis of what is wrong with this country at the moment.
The question is, who is going to be able to make the necessary changes to get us on the road to recovery? Unfortunately David no longer has the brilliant "Agenda" programme anymore (possibly the only thing TV3 ever did that justified their existence) to bring these issues into visibility to a wider audience (on a side note, I always thought it was a little convenient that the programme should be dropped as his predictions of a property market decline were starting to tally with the signs on the horizon). So, incisive and eloquent as he may be, unless he has the ears of those with influence, there are very few other people in a comparable position to change the current way of thinking in those towers of ivory.
What's always been lacking is a coherent and consistent opposition, and that doesn't look like it's going change anytime soon, despite the occasional spark.
In a related article, he takes a look at the cultural aspects of the bank-manufactured property boom. There's nothing particularly new there, we've been aware of the scam that's been perpetuated in this market for a long time, but it's interesting to see the workings of the US valuation system and how it could (or should) apply to our situation.
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