It is indeed time to fix the New Zealand economy and there is one very simple solution: Nationalise our dollar.
In order for our economy to recover fully we have to lower debt levels, both public and private. To achieve this, the New Zealand government must take control of printing New Zealand dollars and our money supply.
The New Zealand treasury should print new nationalised dollars as legal tender. The Reserve Bank of New Zealand is a privately controlled bank, much like The Federal Reserve Bank of the USA. Our government does not control the printing of dollars and has no say in money supply.
If the New Zealand Treasury started to print a new legal tender while phasing out Reserve Bank notes we could pay off our debt with one swift stroke of the printing press. All that would be required is to get an exact figure on our overseas debt, then print a one off note for that exact amount and make payment.
As long as private foreign bankers control the reserve banks of almost every nation, economies and politicians will be subject to their control and their demands. New Zealand is no different. The big private bankers of the world are predominantly responsible for this economic mess and I'm surprised nations still bow to their demands. It was the public that bailed them out and now they're back to making large profits while the rest of us are still reeling from the economic aftermath of their abuse and mismanagement.
Completing a degree in economics and finance taught me one thing, you are a slave to the debt owner. If the government can take back control of printing money it can take back the control of debt.