Global Meltdown of Capitalism – time for Kiwi Socialism?

By
Martyn Bradbury
-
26
44

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The looming implosion of financial markets seeded from the 2008 meltdown is ripening on the vine…

The global economy is no Lazarus – the outlook is bleak

Any new crisis is likely to be a further phase of the 2008 crisis, reflecting the fact that the causes remain largely unresolved. A future downturn will be much worse this time around

…nothing was sorted from the 2008 GFC, all Governments around the world did was kick the debt can down the road and hoped.

That hope has come full circle and the 1% elites who this corrupt system of capitalism benefits are as greedy and selfish as before and the explosion will hurt the other 99% worse than 2008 did.

Our Governments prediction of high growth rates to make the budget look less hollow than it is are optimistic in the extreme…

OECD: dairy prices, earthquake rebuild to hit NZ economic growth 

Low dairy prices and the end to earthquake rebuilding are expected to slow New Zealand’s growth in the next year, according to the OECD.

The global economic organisation has released its economic outlook report, stating that the global economy was “stuck in a low-growth trap”.

OECD secretary-general Angel Gurria urged policymakers to take action.

“Growth is flat in the advanced economies and has slowed in many of the emerging economies that have been the global locomotive since the crisis,” she said.

…our current neoliberal settings that build tax havens, borrow billions for tax cuts, sees 20 000 in desperate housing, allows property speculators to lock out generations from home ownership, sees 300 000 kids in poverty and is seeing tens of thousands living in cars, on the streets or in over crowded garages is a rigged crime…

Labour research shows system is unfair – Trade Unions 

Labour’s urging the Government to do something about the distribution of wealth after research found economic growth isn’t being passed on to workers.

At his pre-Budget speech in Wellington on Sunday, Labour leader Andrew Little said since the current Government came into power, just 37 percent of economic growth is heading into pay packets.

John Ryall from the Council of Trade Unions says Labour’s research shows the system is unfair.

…we need NZ solutions, a Kiwi Socialism, if we want to insulate ourselves to the massive global downturn we are facing. The problem is that no political party in NZ is even close to articulating the radical reforms we need to reverse the damage neoliberalism has created.

While NZers sleep in cars, the Greens and Labour are holding empty press conferences promising to work together to end the Government, pity they didn’t have that view in 2014.

TDB Recommends NewzEngine.com

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26 COMMENTS

  1. 1000% Martyn,

    When IMF https://www.theguardian.com/business/2016/may/23/imf-warns-eu-bailout-greece-debt-relief are now folding and admitting Austerity failed and debt forgiven as in Greece’s case yes they know the global economies are screeching to a halt and soon the crash will force the banks to close their doors again as happened in 1929.

    When CNBC pundits are edgy over the stagnant wall St Stock market we know there is major issue coming like a freight train without brakes.

    • Do you own or rent Cleangreen?…you sound like a renter (perhaps live in a car) If you are an owner and the market does crash, as per your prediction…then what?

      • Why would anyone answer just another Nazional stooge like I’M RIGHT folks?

        I’m Right mirrors the old days when we had another Nazional cling-on buzzing around calling us all crazy.

        Is that you Gosman in drag?
        At least Gosman said he wasn’t getting paid as a National troll?

      • Owners are going to have to give it up. If 20% of the population is greedily hoarding 3 or more houses, while 80% of the population owns nothing, and has no hope of ever owning anything, what do you THINK is going to happen? That situation is not going to stand.

        Cheerfully or otherwise, society will force a redistribution. Bank on it. It’s already begun. You can feel it.

      • The revolution has started with VR (Virtual reality) driven by Oculus technology. Don’t believe me? Just try a pair.

        In thirty the way we make friends and form relationships will be radically altered and considered by youth in 20 years time as the things that old people did.

        Right now people are moving into a 600sq foot unit. Strap on VR googles and you could live in a 200sq foot unit. And people of that era will consider that a happy existance.

        Like I said if you don’t believe me just strap a pair on. Iv had mine for 3 weeks. Cost 200 dollars. It’s radically altered how I consume technology. Iv just been blown away by it.

    • The only revolution needed in this country is the rise of an individual or group that simplifies the range of issues down into strategic political objectives.

      And while the tentacles of supply side / starve the beast neo liberalism seems complex… it actually isn’t. There are key institutions that can be assaulted politically that would cause a knock on effect.

      There are key pieces of legislation that can be overturned.

      Do that… and the rest start crumbling.

      We just need a Left that is selective and will not stop until those impediments are eliminated.

  4. The solution is collectivised armed violence. By the way, last time I checked, immigrants in NZ totally get to vote and many choose National and make significant donations to your favourite party, Bomber.

  5. OECD Report 1975 New Zealand No 1,
    OECD Report 2015 New Zealand No 27, plus we have sold most of our State Assets hence the performance of NZ Government both National and Labour has been a disaster, Neoliberalism has been a dismal failure with State Assets being sold for a pittance to friends of the Government of the day.

    New Zealand needs to get back to its roots of “an honest days work for an honest days pay”.

    The wealth is concentrated in the top 1% who own the capital and the assets and the rest of us are slaves to the this upper grouping, the TPPA will makes us slaves to US Corporations as Central Government will be redundant, welcome to the New World Order designed by the likes of the Bilderberg Group, Monte Perelin Society, the Federal Reserve and Wall St.

  6. as long as no one starts talking about “arming the working class” just yet, it is doubtful as to who they might put up against the wall after 30 years of “me, me, me” neo lib think and the resulting alienation

    yep, tempting to look back at what might have been in 2014 if Labour had not knifed Hone in Te Tai Tokerau and the Greens had seen the blindingly obvious in certain other electorate seats, still better late than never

    NZ will likely be one of the last countries to go socialist because of the prevalence of SMEs, self employed and ‘man alone’ rural conservative bullshit, and deep veins of denial on how property capital gains has led half the population by the nose for a decade

    “kiwi socialism” would have to involve canning the structural elements of neo liberalism–The Reserve Bank Act, SOEs, private penetration of state infrastructure, free inflow and outflow of capital etc. ending the Tax Haven and so on

    • TIGER MOUNTAIN, Your last sentence is paramount right on the mark.

      The globe has had enough of the aggression behaviour of the greedy Corporate uncaring world.

      When was the last time you saw a Corporation say “We have a perfect score in our ranking of the most “socially responsible Corporations here in NZ?

      http://www.macleans.ca/work/bestcompanies/top-50-socially-responsible-corporations-2014/

      They have a duty to carry out these goals as a Corporation operating in NZ.

      Do we have a “Top 50 Socially Responsible Companies” in NZ as most other countries including Canada US and Australia do have?

      We are a very rough wild west society under Planet key today I’m afraid.

  7. +100…Good Post …where is Mana/Int?

    This reiterates the issues…and the need for drastic social egalitarian change confronting us…otherwise the events will overtake us

    https://www.rt.com/shows/keiser-report/344891-episode-max-keiser-921/

    “Max and Stacy discuss the new ominous trends linked to the fact that no ‘Mr. Smiths’ have gone to Washington in decades. With corruption paying so well, monopolies and big box store businesses over run the previously job-producing regions of America.

    In the second half, Max interviews Professor Robert McChesney about the media’s role in the US election so far – from $3 billion in free air time for Donald Trump to refusing to cover Bernie Sanders until late in the game. Also, ‘the defining moment’ as robots replace more and more jobs and how this relates to voters choosing Trump.

    • 10000% Chooky keep it up help is on the way.

      Did you see the Friday chapter of Marty’s “5th Estate”?

      Watch it n tomorrow on TDB it’s a must see they were brilliant all five of the panel.

      They should pipe this 1st class show through mainstream TV on TV One every night instead of the shallow silly “seven sharp”

      And on RNZ in the afternoon instead of the stupid “Jim Mora panel.

  8. Whilst it is blindingly obvious to anyone with a brain that still functions properly that neoliberalism was founded on a set of lies, has been an utter disaster for most inhabitants of this planet (human and non-human) and is in the process of rendering the Earth largely uninhabitable.

    However, the fact remains that the fascists do control the information flow, ‘security forces’ and the judiciary, and anyone who seriously threatens present arrangements will be silenced, incarcerated or murdered by ‘the Empire’. And the dumbed-down masses will celebrate that silencing/incarceration/murder by ‘the Empire’, mistakenly thinking they are being protected from ‘terrorists’.

    It therefore seems that the current horror story must play itself out to its natural conclusion, which will be financial, economic, environmental and social collapse.

    George Orwell highlighted the paradox 70 years ago. Paraphrasing what he said: the proles need to awaken in order to start a revolution; the proles will not awaken until there is a revolution. TPTB seem to be fully aware of this and therefore feel ‘quite comfortable’, to quote ‘our beloved leader’.

    By the way, Big Brother is watching.

  9. what will take out the nz economy out is our ridiculous house hold debt even those who haven’t joined the rampant speculation will be taken down by the debtors . the poor are already paying ,the middle class will vanish i think sony sums it up
    https://youtu.be/GXcLVDhS8fM

  10. It is not that easy, Martyn, not that easy.

    Revolution and so forth carries excitement, but we witness an abysmal fail in Venezuela, showing us how it should NOT be done, as they depended on one major export earner, that was and is petroleum, and failed to diversify and sufficiently train their people to do a range of important jobs.

    We can also invest, but we will still be dependent on the global market, that is finance and exports and imports, as we will never have the know how, capital and manpower to produce all our medical and many other products we need ourselves. We can get better at it, we must get better at it, we must invest in diversification and intelligent production, also in much more research, but we will have to trade with others.

    That means we will have to continue making compromises, I hate it, we all hate it, but it is inevitable. Or else we go down a dark hole.

    But we have opportunities, what we need is a signal, a movement, a leadership role for NZ, like once with the anti nuclear movement, we need to lead the developed world into a new agenda, a new plan, a new cooperative way of doing things, economic, social and environmental.

    Instead our government has squandered a seat on the UN Security Council, done nothing much with it, but talk. We have a stuffed up climate change agreement, where we signed a deal but do all not to comply with it, we are after all not the smartest nation when it comes to science and research, more can and must be done, and we need to create a science centre here on a global scale. We must stop tax dodgers and instead offer corporates and individuals, to invest here, to produce science, research and production, that is economically and environmentally sustainable, that is revolutionary and leads the way to a sustainable future.

    There is NO alternative, and we will not do this to sell out, we will demand minimum targets and conditions, and as the rest of the world has been fucked up, we say, come and sign where we want you to sign, then you can live here forever, abide by OUR rules and laws, and join in a new collective effort for the future.

    That would be an invitation to former raiders, exploiters and tax dodgers, to reform, to get real, to get honest, and learn to share and be productive, we would be the have for the future, the only future, as traditional tax havens are just delayed grave yards for our planet, we do not believe in that.

    Every one’s grave yard will come but do face it with dignity, and allow people to reform, under strict conditions, this could be the reformist approach after a John Key The Raider Kind of Government that went loose the other way.

    Perhaps consider that, and also offer free tertiary and early education, a new tax regime that is more progressive and fair, and bond a new nation, bond the people ffs, as we have had mass immigration, too many in a short time, that do NOT seem to bond, but rather divide, we need to settle for a while and reduce new intake, base on a new skilled migrant criteria, inviting doctors, nursers, technical experts, but keep the rich opportunists out, that just want to buy real estate, farms and so.

    That is my idea for the future, the meltdown will come, we can offer some victims what I just wrote above, think about it.

    • ‘That would be an invitation to former raiders, exploiters and tax dodgers, to reform, to get real, to get honest, and learn to share and be productive’

      Mike, maybe you have watched too many happy-ever-after films or been exposed to too many happy-ending children’s stories. Fascists and exploiters cannot be rehabilitated and cannot be negotiated with.

      Check the parable of the Frog and the Scorpion.

      ‘A scorpion asks a frog to carry it across a river. The frog hesitates, afraid of being stung, but the scorpion argues that if it did so, they would both drown. Considering this, the frog agrees, but midway across the river the scorpion does indeed sting the frog, dooming them both. When the frog asks the scorpion why, the scorpion replies that it was in its nature to do so.’

      The fable is used to illustrate that fundamentally vicious natures cannot change.

      https://en.wikipedia.org/wiki/The_Scorpion_and_the_Frog

  11. The function of the Labour Party is to *prevent* Socialism in NZ. It goes without saying that National shares the same goal.

    Have you already forgotten what happened at the last election when Labour threw *itself* on a grenade to prevent the Left getting even 1 more seat in Parliament?

    Here’s a news flash; if Socialism is going to come to NZ, it will be despite the Labour party, not because of it. It will require BOTH political parties being thrown out at the SAME time, and that’s just for starters.

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