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Comments on: NZ downgrade on high debt, foreign incompetence http://www.tvhe.co.nz/2011/09/30/nz-downgrade-on-high-debt-foreign-incompetence/ The Visible Hand in Economics Fri, 30 Sep 2011 01:57:21 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: swan http://www.tvhe.co.nz/2011/09/30/nz-downgrade-on-high-debt-foreign-incompetence/#comment-34374 Fri, 30 Sep 2011 01:57:21 +0000 http://www.tvhe.co.nz/?p=6322#comment-34374 What I don’t get is what private debt has to do with government debt?  I realise if all off us private citizens couldn’t pay our debts then that may lead  to a recession etc.  But in that case wouldnt our current account deficit quickly shrink?  Is this all because our government has shown itself to be keen to bail out private citizens – e.g. Christchurch, AMI, SFC etc?

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