The myth that National are better economic managers

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National have conned the sleepy hobbits of muddle Nu Zilind into believing that they are better economic managers than Labour.

It’s a con that allows National to continue borrowing billions in tax cuts for the richest NZers while cutting off welfare to the poorest, in a nation that once prided itself on egalitarianism, this current state of affairs is an abomination.

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Defenders of National will cry ‘the GFC occurred’ – sure, so why the hell was National borrowing billions for tax cuts so their wealthy mates had enough disposable cash to buy up all the public assets NZ once had?

That’s the truly sick part of National’s so called economic strategy, they borrowed money for tax cuts for their wealthy voters, which in turn allowed their wealthy voters to buy up public assets. We bloody well funded them stealing our assets!

We have 40 million sheep in NZ, most of them vote National.

20 COMMENTS

  1. ” . . .which in turn allowed their wealthy voters to buy up public assets”.

    Yep. And it also allows them to buy up property thus accelerating the growth of the housing bubble and fueling the house-price inflation that has put housing costs way beyond the average New Zealander.

    • Yep. And when that particular bubble bursts, they’ll all cry in their lattes and want the rest of us, who have been prudent and not over leveraged with massive debt, to bail them out.

      I’ll be damned if I’m going to be a party to bailing out greed. Because that’s what this is. Greed.

        • Yeah. Not many people in NZ are aware that their “savings” in bank accounts aren’t safe.

          If we can’t save money in the bank, where do we put it?

  2. The Labour party does manage the economy so much better but people some how think Mr Key is some sort of economic genius because he is rich but how he became rich has nothing to do with the sort of business skills needed to run a country .

    • New Zealand IS NOT a business. NO country is a business. That’s the damning lethal myth introduced by that con artist Roger Douglas 30 years ago.

      • No that is a great myth.

        Why do all the best businesses have socialist owners?

        Look at New Lanark. Look at Virgin and the values of Richard Branson.

        Seriously. That’s an utterly superb myth.

  3. The old standard “Old boys network” is still alive and healthily gorging on the last “flesh & bones” of a once proud and stable land of plenty for all has now become the playground of the rich and idle.

    So we hope the sleepy hobbits that bought this toxic bag of goods at election time are happy with their win.

  4. One would have thought that people should have seen the stupidity of selling off assets that were returning greater dividends than the cost of government borrowing.

  5. Well Martyn, you have obviously forgotten Roger Douglas haven’t you, that well known con artist that infected the Labour Party with the neoliberal virus 30 years ago.

  6. This summation is largely correct but does not go far enough.
    The supposed big shocks to NZ from the GFC are greatly exaggerated.
    NZ’s financial system was largely untouched but not due to any superior economic management by For Ex Dealer Key and Bookkeeper English but by the Australian prudential management system.
    In fact there is a VERY strong case to be made that Key’s government policies were the primary cause of what damage NZ did suffer from the GFC. This came about due to the insane broadening of the deposits guarantee to cover Finance Company investors. Of course given the higher rates these organisations were paying and they were now risk free the greedy piled in.
    Since this time the much touted “rock star” economy has had little to do with government actions but has been driven by the large stimulus of the Christchurch rebuild and a continual run of historical high terms of trade.

  7. Aint that the truth – might try chalking some of this on the streets around Wellington next week. Any preference where I do it Martyn? Outside Reserve Bank is a favourite spot of mine, so Treasury staff can see it from their ivory tower.

    Have you got a couple of names for me of ‘wealthy New Zealanders’ I could target also?

    Trespassed from Bob Jones office last year, funniest most rewarding bollocking I have ever given anybody. He had just written some BS article in Herald about ACC and people thinking they were ENTITLED. Didn’t expect someone would actually confront him over it. He got flustered and told me he would sue – I cracked up laughing, said “Can’t get blood out of a stone Bob.”

    Could still chalk outside his building – he’s in justice house, owns it, bought it off the government.

  8. I think john key is a fucking egg head I’m half American and I can tell you that he should not be making friends with them at all. This country will be sold off bit by bit to forien people including America as I’ve herd in the states for years that the government has always wanted a slice of us. We’ll your giving them what they want john key. I’m from Christchurch and was there thru the mess and I can honestly say the government us not there for you and john key is a selfish [expletive deleted – ScarletMod] that wouldn’t do anything for this country unless it was good for the government you’ll see this will all unfold one day … The question is once everyone finally realises we are being run by a greedy self absorbed nutter will everyone stand up for what is right or bow down.

    Mel, while your comments are welcome on this blog, please tone down your use of expletives. They undermine the strength of your beliefs. – ScarletMod

  9. Every single thing JK has done to this country is to sell us out, and asset strip as someone else mentioned.
    Changing laws in every part of our system and heaps under urgency are all part of the strategic plan to dumb us down and take over our lives and make us slaves in our own country.

    The TPPA & TISA are what they have done all this for also.

    Higher Education is now just for the rich.

    Middle NZ may wake up slowly as JK and his cronies make it worse for almost all NZers. The cost of him as PM will be (IS) a nightmare.

  10. JK is letting in more financial services all the time !!

    “7) Finance, not agriculture, is New Zealand’s largest industry
    Though New Zealand is commonly thought to be an agriculture-based economy, this couldn’t be further from the truth. Agriculture accounts for only 5.1 percent of New Zealand’s GDP, while the finance, insurance and business services sector is the country’s largest sector, contributing 28.8 percent to the GDP. Furthermore, banks account for 80 percent of the total assets of New Zealand’s financial system. Not only is New Zealand’s banking system dangerously exposed to the country’s property and credit bubble, but so is the entire economy.”

    http://www.forbes.com/sites/jessecolombo/2014/04/17/12-reasons-why-new-zealands-economic-bubble-will-end-in-disaster/2/

  11. And now the cost of petrol has gone down. There’ll be a smidgen more cash left at the end of the week.

    I wonder if Stephen Joyce will have the gall to claim that benevolence as a Clear Sign that National Manages Better?!

    What did I just say??!! Of course he will! Never lets an opportunity pass.

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