Let’s just be really, really, really, really, really, really honest  about why Business confidence is plummeting.

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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.

Bullshit.

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.

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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.

16 COMMENTS

  1. That horrid article two days ago about the 21 year old with 11 houses should send a crystal clear message and warning to the PM and this government that there is plenty of work to be done.

    Stop parasites like that gut destroying the housing market!

    • I don’t know why I go to the NZ Herald every day except the presentation is much better than Stuff. The source/sauce of poison.

      The Herald has money. We, through the no.8 wire means of NZers can certainly fake their money. The scungeyness of the Herald’s populism can’t help but be seen by a lot of NZers. And they pour their poison into our ears for their owners.

  2. And who’s gonna be the doorman for the Chinese as they sweep through to pick up mortgagee sales, failed (by design) building companies, clean untainted water and green pastures?
    We are!
    The keyboard army.

  3. [ ” 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 ” ]

    Yep.

    Others would just call it a giant Ponzi scheme.

  4. You are absolutely totally right Martyn.
    Unfortunately very few will believe it, because it the truth is not what the business community want people to hear – it is the lie that Labour is solely responsible and that National is blameless.
    And with the National friendly MSM that covers about more than 90% of the news/current affairs networks, that is what they will mostly hear.

    • Hmmm, let’s look at Jacinda’s CV

      Worked in a fish and chip shop
      Politics and public relations degree
      Researcher for former Prime Minister Helen Clark.
      Policy advisor for Tony Blair.
      President of the International Union Socialist Youth.
      List member of NZ parliament
      Prime Minister

      Nothing there that really shouts out, business experience does it?

    • Don’t forget the massive build up of private debt the whole house of cards is collaterlises on house prices national ran a ponzi scam for 9 years . Now the gloss is gone the easy money lot are squealing the Piper wants paid

  5. B-b-but transNational is the natural party of business.

    They are axiomatically better business managers.

    • no bro, they are Banksters not managers their business model is based on theft and fraud, try getting a bunch of dumb coppers to investigate their crimes, just ask Simon Bridges lol hes trying to get the cops investigating leaks about his expense accounts, not the fraud he perpetrated to buy a swish Limo

  6. Nine years of hype and lies calling it something is was not is now comming back to roost showing they were just lies.

    Key was a master of deception sadly and now he wants again to sink ouir currency as he hedges again against our dollar and tries to make another killing as he sinks our economy.

    remember him amd Alex krieger consired against labour in 1986 to sink our scurrency then and walking away with krieger making many milliions, so he should be investigated for doing harm again to our dollar.

    Integrity?
    Try this scenario!

    Key & his Wall St mate Krieger repeat what they did when Labour booted them out in 1984 he will leave NZ after pushing up the dollar with their money, and then pulling it out and slumping the dollar and again making yet another $40 million again.

    Key and Krieger were written up in global news as one of the most successful raids ever made on a county’s currency.

    So don’t have any illusions that this man known as the smiling assassin is nice, he is ruthless.

    http://www.businessspectator.com.au/article/2008/11/10/financial-markets/keys-house

    John Key is living proof that not all heads of derivatives operations for large US investment banks end up in the dog house. Some get to run their own country.

    Key was elected prime minister of New Zealand last weekend after his National Party achieved a crushing victory over the incumbent Labour government of Helen Clark.

    The timing of his elevation, in the midst of a financial crisis, may be quite prophetic. After all, Key’s rise to prominence in foreign exchange circles came after he struck a rewarding relationship at Bankers Trust with Andy Krieger, a daring New York-based trader who launched a legendary raid against the NZ dollar in 1987.

    Krieger reportedly bet more than the country’s entire money supply against the currency, forcing it down sharply and taking massive profits in what is still described as one of the finest forex plays ever completed.

  7. Nine years of hype and lies calling it something is was not is now comming back to roost showing they were just lies.

    Key was a master of deception sadly and now he wants again to sink ouir currency as he hedges again against our dollar and tries to make another killing as he sinks our economy.

    remember him amd Alex krieger consired against labour in 1986 to sink our scurrency then and walking away with krieger making many milliions, so he should be investigated for doing harm again to our dollar.

    Integrity?
    Try this scenario!

    Key & his Wall St mate Krieger repeat what they did when Labour booted them out in 1984 he will leave NZ after pushing up the dollar with their money, and then pulling it out and slumping the dollar and again making yet another $40 million again.

    Key and Krieger were written up in global news as one of the most successful raids ever made on a county’s currency.

    So don’t have any illusions that this man known as the smiling assassin is nice, he is ruthless.

    http://www.businessspectator.com.au/article/2008/11/10/financial-markets/keys-house

    John Key is living proof that not all heads of derivatives operations for large US investment banks end up in the dog house. Some get to run their own country.

    Key was elected prime minister of New Zealand last weekend after his National Party achieved a crushing victory over the incumbent Labour government of Helen Clark.

    The timing of his elevation, in the midst of a financial crisis, may be quite prophetic. After all, Key’s rise to prominence in foreign exchange circles came after he struck a rewarding relationship at Bankers Trust with Andy Krieger, a daring New York-based trader who launched a legendary raid against the NZ dollar in 1987.

    Krieger reportedly bet more than the country’s entire money supply against the currency, forcing it down sharply and taking massive profits in what is still described as one of the finest forex plays ever completed.

  8. Who are these people ‘in business’ who say confidence has collapsed? How many of them are there? What does this ‘collapse’ mean, if in fzct it is happening?

    • Since most markets are rigged to varying extents it is difficult to distinguish a natural fall real from an orchestrated fall.

      Zero Hedge claim there is ‘carnage’ around the world.

      The NZ dollar at under 66 cents Us must be hurting quite a few folk, and enriching others.

      Since it is ‘only August’ there will probably be time for a few more dead cat bounces and speculative trades before the real ‘fun’ begins.

      Not much fun in New South Wales and Queensland, with yet another day of almost no rain.

      Zero Hedge link:

      https://www.zerohedge.com/news/2018-08-15/carnage-everywhere-except-bonds-bitcoin

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