PO Box 18-907, New Brighton, Christchurch Phone/Fax: 0064 3 382 9544
Email: democrats@democrats.org.nz Website: www.democrats.org.nz
Media Release
Tuesday 23rd September 2008
It’s about debt
“This election is about debt,” says John Pemberton, Finance Spokesman for Democrat for social credit ( DSC ). “A
stampeding bull elephant, the debt- fuelled world economic crisis, is about to stomp on New Zealand.”
“We have escaped serious damage so far because of the relatively simple nature of our lending practices,” Pemberton
explained. “But the bull elephant is getting closer.”
“At the end of March 2008, this country’s total debt was at least $492.6 billion. On average, that’s a debt of $115,937
per man, woman and child in New Zealand. A family of four shoulders a debt burden of almost $500,000, and it is going to
go higher.”
“This figure includes personal debt, and the debt we service indirectly through taxes, rates and the price of goods and
services. Debt is an issue that ought to be hard to ignore,” Pemberton says.
“And yet it is ignored. One major party talks about ‘trust’ and another one about ‘a fresh approach’ this election,
while the media have a feeding frenzy over a minor party’s alleged financial peccadilloes.
“No-one is talking about the charging bull elephant, except for the damage he is doing overseas, as if it had nothing to
do with us.”
“It has everything to do with us,” Pemberton says. “DSChas warned voters for over half a century that this crisis was
coming. Now it is here, so what are we going to do about it?”
“Will it take the stomping of several bull elephants for voters to stop believing everything they read in the mainstream
media and every platitude politicians in Parliament mouth?”
“We have been given breathing space; let’s adopt a financial mechanism that will pull us back from the brink of economic
disaster.”
“Democrats for social creditis the only party that advocates such a financial mechanism -one that can save New
Zealandand lead the world.”
ENDS