Election Bribes

Keynesian economics says that governments should run deficits during tough times and surplus during good times, so they have reserves to meet the next crisis.

This is a version of the advice given by Joseph to Pharaoh, after the dream about seven good years being followed by seven bad years. Joseph’s interpretation of the dream was correct, but his advice was wrong, because it forced the Egyptian people into slavery, when they sold their land to Pharaoh in exchange for food rations (Gen 51). The people would have been better to save their own grain surplus to survive the seven bad years. They might have done that if Joseph had warned them.

Getting back to the current time, New Zealand is well recovered from the global financial crisis. Unfortunately, wages have not recovered much, so people do not have the capability to save for the next crisis.

However, it is election year. The political parties are not interested in building resources to deal with future crises. They are committing instead to huge bribes to buy the election. A billion for this. Billion for that. Billions here. Billions there. Here a billion. There a billion. E I E I O. The sound of the pigs slapping their jowls in the trough is disturbing.

I hate being bribed with my own money. And the whole circus is very short sighted. Their only long-term goal is to stay is in power.