I’m sorry, but all these bankers rushing to warn us of the collapse of a housing market they’ve exploited for 16 yrs is like the fox warning about chicken theft.
Who made billions and billions and billions in profits from lending to property speculators for almost two decades?
The bloody banks did! Their crocodile tears and hand wringing over how their own exploitative greed will now cause the entire bubble to pop is as disingenuous as the National Party are over their denial there is any housing crisis in the first place.
The banks simply want to be ahead of the vicious backlash about to erupt once the middle classes realise their illusion of wealth is exactly that, an illusion.
What the neoliberal hegemonic structure fears is for the middle classes to suddenly feel as vulnerable as the working classes and beneficiaries do. The political demand to punish those who have been molesting the economy for so long is starting to dawn on those who have benefited most from this corruption.
These Kings of Exploitative Free Market Capitalism are not here to warn us, they are here to pretend they cared before the inevitable occurs.
They are here to save their skins. Not ours.
Iceland did it in the North
New Zealand should do it in the South
Let’s round up the politicians and bankers and put them behind bars.
https://www.youtube.com/watch?v=NeJpQQt_b8c
Yes! A great idea!!! And if there is any room left let us throw some politicians in with them (such as the ones who made bank exploitation possible in the first place!)
@ Helena .. yes, absolutely with you all the way there.
Serco will have some space I’m sure for dirty, corrupt bankers and scumbag politicians. Bring it on.
Yes please Helen about time!!!!
It is probably why “corrupt Key” is out of the country for so long now?????
Of course the banks would “warn” us, it is their credit, money they lent to home buyers and others up to their eyeballs in debt, and when they are forced to default, the bank will have to write it off, making losses.
The same applies for the Council, losing rateable income if values drop, and Central Government, faxing a recession, as people are forced to rather pay off debt than spend, and then losing tax they can earn.
That is besides of the government losing face and then also an election.
They are all in it together, so the government will do all to avoid a crash, to avoid prices to drop, and do all to keep the economy ticking along while net migration gains keep the consumer and worker base growing. Never mind the future, leave that for Labour and Greens to clean up.
Indeed the government is already setting the next Labour Greens government up to fail, so they can come back and say, we must “rescue” the people from their failed policies.
A cunningly “forward looking” Nat Party – still in government, doing all this damage.
To the speculators and the 1% a crisis is only a crisis if it is their wallets being emptied.
If it happens to others it is simply a “period of consolidation”, “a dip in the curve” or (as David Lange put it) “a pause for a cup of tea”.
But listen to the agonized wails when they take a hit.
Yes, I heard the CEO of Westpac on Radio NZ this morning. His warnings are about, oh, say, 20 years too late.
Maybe Labour should sit out the next election. Let the Nats take responsibility when the housing bubble bursts and we become the Greece of the South Pacific (and not in a cool, Mediterranean way).
it not a bad idea
the underbelly of these ridiculous house prices is the corresponding blowout in house hold debt half a trillion dollars is a debt bomb and could take us all out
https://youtu.be/GXcLVDhS8fM
[…] bankers and the wealthy are panicked because their naked greed over the last 16 years has imperilled us all and the sudden populist […]
Yep. These guys are deliberately placed plants promoting ludicrously destructive policy for the middle class in order for Key’s government to ride in on a moderate stallion to calm everyone’s nerves.
The housing market collapse is near. I hope hundreds and hundreds of people will join with this brave lady and copy her action:
http://m.nzherald.co.nz/wanganui-chronicle/news/article.cfm?c_id=1503426&objectid=11658376
UNFORTUNATELY, we are not a sovereign people. We are either useful or useless eaters and therefore merely assets of NZ Inc, which is why we pay over the top for water, gas, electricity, rates – all collection figures to be put into the GDP for the owners of NZ Inc.
COME ON NEW ZEALAND – time for this to stop. Iceland showed the way:
https://www.facebook.com/search/top/?q=iceland%20constitution
Of course, Bradbury ,… its always been this way. Or have you and others learnt nothing from the GCC, 1929 , Mont Pelerin, ….so why sound so surprised ?, … it is hardly news.
What might be news to you who don’t believe your being duped daily is the fact that globalists include among their tenets the destruction of home ownership. Simply because it achieves two things, 1) a rental class and a moneyed elite class, 2) it effectively creates tenets out of its citizens.
When you take away home ownership you take away ownership of the land . When you take away ownership of the land – someone else owns it instead.
Pretty basic shit.
So who benefits?… banks who lent those loans don’t always lose at all after a housing bubble crash , in fact they gain. They use mortgagee sales and sell the land and chattels all over again.
And if you think or wonder where money actually comes form – its actual value is set by a small number of people far away from here and THEY determine what you will pay back in interest . They are figures plucked from the sky and only loosely based on such things as commodities.
The banking system is a tiered system and those organisations on the lower rungs are expendable. You should know that , Bradbury.
You should also know that home ownership and a nations sovereignty is seen as an ugly disease to the globalist.
Think of that the next time you protect a known neo liberal globalist poster on your website , buddy.
And shonkey said “I don’t want you to be tenants in your own land Ha ha ha, bloody evil little lair he is like his rich band of traitors.
I HELD THE BANKOFF SELLING OUR TORONTO HOME DURING TORONTO’S BURST HIOUSING BUBBLE BY USING THROUGH MY LAWYER PROMISORY DECLARATIONS SO YOES WORK FOR A WHILE TWO OR THREE YEARS BUT THE BURSE BUBBLE LASTED 20YRS AS WILL AUCKLAND’S BURST BUBBLE AFTER THIS YEAR.
Rescind all knighthoods issued to bankers and their ilk. Sir Roger Douglas, Sir Bob Jones, Sir Machael Fay and all the others.
The heartache, misery and inequality caused by these mongrels should be regarded as national treason.
What’s the bet that John Key gets a knighthood? Sir John Key, either the first Knight to be standing for election in 2017, or the ink not dry on his resignation for “personal reasons”. Then he’ll be able to hob-knob it with his BFF Richie at functions.
Interesting to see the ALL Black ‘State Ambassadors’ welcoming and hob-knobbing it with Joe Biden.
What a country this has become. What a fucking joke of a democracy this country has become. Rugbyocracy, the new political mutual brown-nosing on the block. It had its nadir inception in 1981 with Rob Muldoon and reaches its zenith with Sir John Key hosting Joe Biden with a few All Blacks.
Just a fucking joke of bullshittery in the South Pacific. Looking forward to seeing the All Blacks waving to their adoring fans from the decks of the
neither confirm nor deny nuclearUS Ships visiting here later.George Orwell said it best:
“Twelve voices were shouting in anger, and they were all alike. No question, now, what had happened to the faces of the pigs. The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.”
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