Adrian Orr has spoken! The Death Cult Capitalists demanding the economy open faster have lost the argument 

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Captain Socialism, the Reserve Bank Governor Adrian Orr

Captain Socialism, the Reserve Bank Governor Adrian Orr has spoken! The Death Cult Capitalists demanding the economy opens faster have lost the argument.

NZ must remain in Level 2 and keep the borders shut to prevent the plague spreading because we CAN NOT survive Lockdown 4 again…

Insurers and non-bank deposit takers, Reserve Bank’s biggest worry

Unemployment could rise to 18 per cent, house prices could halve, and the viability of the banks could be “called into question” if the coronavirus prompted a further period of economic lockdowns, the Reserve Bank has warned.

The Reserve Bank said in the central bank’s annual report on financial stability published on Wednesday that banks had coped well with the coronavirus pandemic so far.

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But under “severe enough scenarios, the viability of banks would come into question”, it warned.

In the event of its worst-case lockdown scenario “initial modelling suggests that, without significant and timely mitigating actions, banks would fall below minimum capital requirements under this scenario,” it said.

…Captain Socialism has made it clear, we fuck this up and go back early the way the Death Cult Capitalists demand, we risk losing control of the plague, go back to Lockdown 4 and invite Bank collapses.

As the deadly economic data unfolds like todays announcement of 37 500 jobs, Labour must hold their nerve to extinguish the plague and prevent its re-entry.

The Death Cult Capitalists believe we can go back to ‘normal’ but until there is a vaccine, there can be no ‘normal’.

We’ve seen what the Death Cult Capitalists have done to America and the UK, we have almost eradicated the plague in NZ and need to position ourselves to be able to trade on our 100% Pure brand in a very unique way.

Let’s not allow the wealthy who feel their privilege threatened push us into opening up the economy faster than the medical experts advise.

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21 COMMENTS

  1. I do not know the entire back story but it would seem that the Government has awarded a $30million contract to an American company called Concentrix to run a call centre rather than use a local disability group. If we are going to keep unemployment t down the Government need to use local groups which is the message they pump out in their adverts .
    When you research this company you see they were called a Terror Group because of the way they handled a job in the UK and finished up costing the UK government £43 million to fix the problems it had created .

    • The trouble with disassociated gummint is that they take their hands from the wheel and the replacement CEOs step up drunk with power, run the vehicle into a hole, so do the very thing they were employed to avoid and the government gets blamed as always. It would be cheaper for the gummint to make its own mistakes without the extra bookkeeping.

  2. The mighty Orr, and there is no ‘or’ about it. He’s pushing against the rock and the hard place and please God don’t give him Sisyphus’ mantle.

    • We should all be down on our knees thanking Adrian Orr and before him, Graham Wheeler for keeping interest rates down over the past 5-10 years. if a monetary hawk like Don Brash was in charge, there would be a lot more hardship around.

  3. The Reserve Bank’s proposed requirement (under Adrian Orr’s governorship) that the ‘Big 4′ Australian banks’ NZ subsidiaries strengthen their balance sheets so they could survive a ‘once in a century’ financial crisis (which they all whinged and moaned about; and lobbied furiously against), now seems incredibly prescient.

    • Well it would be prescient, and a +100%.
      But that was planned over several years, and the bank lobbyists got it delayed ever further.
      The banks are gone and we should be talking about re-nationalising them and building from the ground up.
      Unless people understand the banks need to fail before we can rebuild a new fairer economy, with property prices that reflect profitability of current SMEs and not some global money laundering scheme we are locked into more than 10 years of depression and dog eat dog, we are well and truly fucked.
      The decisions you make today are going to affect you and your spawn for the next 50 years if not longer.
      Don’t make them lightly.

  4. …’ We’ve seen what the Death Cult Capitalists have done to America and the UK, we have almost eradicated the plague in NZ and need to position ourselves to be able to trade on our 100% Pure brand in a very unique way’…

    ———————————-

    Exactly. We should be capitalizing on it .

    🙂

    Lets do this !

  5. It’s statistically irrelevant to continue restrictions, any outbreak and infections will be far below curve threshold. Open up the economy and move to Level 1 immediately. The Restrictions are only necessary when they become necessary. You can’t have restrictions when there is no threat – that is merely tyranny.

    • Or caution.

      To which my 93 year old mother is grateful as I took her shopping, getting a blood test, a haircut , and picking up much needed prescriptions from the chemist today. I let her do her own shopping by herself. The exercise and feeling of independence is good as well as the expulsion of fear.

      And we owe that to this COL govt.

      They have protected our most vulnerable. And broken the mould of Italy, Spain, the UK, the USA and many others. And shown other’s how its done.

      Be grateful.

    • “An ounce of prevention is worth a pound of cure.” A proverb worth remembering.
      Have fun pushing Nationals bullshit argument though. People don’t want to waste the gains they achieved through lockdown so rich parasites can continue on their merry way.

    • Jason if we have an outbreak or two as an outcome of gatherings of 100, then we don’t have the capability of following up all of the assembled and their subsequent contacts during the fortnight it may take for symptoms to appear. We are running a risk at the moment without increasing it possibly towards system collapse in NZ.

      • That’s beyond the perception level of Jason and those like him. They are the sort that object to be taken to task for shooting a tramper cleaning her teeth outside an outdoor hut. Oh dear, not a deer. And was done despite regulations set up for safety purposes that there be no shooting within a certain radius.

        Well never mind, accidents happen was one type of response that particularly upset and alarmed me. It’s the same about Covid-19 restrictions. The bull at a gate types are likely to be strong and muscular with large feet because their brains have sunk to somewhere around their big toe. That’s the one they use to kick any annoying little problem out of their way.

  6. Hold your course Jacinda;

    *As this virus has again shown it has a long tail and hard to stop.
    *As South Korea has found this week with yet another “spike>
    *As South Korean children go back to school they have another spike to handle again.

    Korean officials have said it is now considering ‘stronger reduction of contact rules again’ since the new Covid 19 virus spike re-appears. 79 cases was reported in the 24hrs and is the highest level for the last two months.

    https://nypost.com/2020/05/27/south-korea-sees-highest-daily-coronavirus-spike-in-more-than-a-month/

    So let’s be cautious and lets finish the job.

  7. OMG 79 cases you say. So far this year worldwide, approximately 57 million births, 24 million deaths so we better be cautious, as this whole situation where humans die is getting out of hand.

  8. If you believe Orr is the solution then you don’t understand the problem. In regards to the Australian Banks you have to remember their NZ operations are mere satellite branches with no real assets. They can cut and run quicker than you can say “kindness is a virtue”.

    Who stands to lose more if the NZ branches of Westpac, ANZ and CBA fail – NZ as a country or Australian shareholders?

    • Many of us would like to find out Frank. It seems that over $5 billion a year being left in the national coffers instead of being snatched by Australian ticket clippers would’t go astray

      • aom
        That 5+ billion is what they cannot hide after all their tax haven experts have earned their keep.
        Have a guess as to how many billions have been raised in mortgages across NZ just in the farming sector.
        Housing – what a bonanza key sparked off for the banks.

  9. Its the same problem that you would have if BP and Caltex upped sticks – the theory is great unfortunately the capital outlay would be too big for the government to pick up and there will be no white knights swooping in

    Be careful what you wish for…..

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