Let’s just be really, really, really, really, really, really honest about why Business confidence is plummeting.
National and their big business goons are screaming that it’s Labour’s very, very, very timid Labour law reforms that is causing mass panic and CEO’s on suicide watch.
The latest Business Confidence Surveys aren’t filled with the fears of business people terrified of militant Unionists throwing molotov cocktails through their shop windows, the reason why business confidence is collapsing is because it’s a rational appraisal of National’s 9 years in power.
Look at what John Key’s rock star economy was built upon:
- Rebuilding from natural disaters
- Mass immigration
- An enormous speculative property bubble
- Mass debt from dairy intensification
The last 9 years of growth has been a lie and a sham. A cheap pump and dump strategy from a money trader with all the morality of a feeding shark. Our Rock Star Economy has been held together by speculative greed, hope and snot. What business are realising is that the falseness of that empty model will give them nothing under a new government who are focused on affordable housing, lower immigration and reinvestment in schools, hospitals and public services.
What the collapse in business confidence really says is the entire entrepreneur class of NZ relied on mass immigration, low wages and an underfunded social infrastructure for profitability – this is why neoliberal capitalism is a failure.