Memories of the 80s

03/09/2010

Rural people remember the mid to late 80s for the difficulties of the ag-sag.

The removal of subsidies -which I now agree was a good move – coincided with high interest rates (we were paying around 25% for seasonal finance at one stage), raging inflation and a very high dollar.

In North Otago and much of the rest of the east coast we also had to contend with recurring droughts.

Until the share-crash of 1987 the country endured the pain while the cities partied.

The freer economy which made it so difficult in the country as farming was dragged into the real world, provided plenty of opportunities for money making in cities.

This video clip from a Close-Up programme shows a little of how it was done and features a longer-haired and greatly bespectacled John Key.

Hat Tip: Kiwiblog


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