The Daily Blog Open Mic – Monday – 16th November 2020

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Announce protest actions, general chit chat or give your opinion on issues we haven’t covered for the day.

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4 COMMENTS

  1. In light of the story in the herald today about the flatmate asked to leave… lets hope the woke brigade don’t go overboard on this one…. people should be able to live with who they please and if the relationship turns sour ask them to go…. aka it can turn out really bad… in this case a person befriended a homeless person and bought them into their house as a guest/flatmate, only to be murdered by them when the relationship turned sour.

    Killer told police: ‘I committed murder today’
    https://www.stuff.co.nz/national/crime/115389338/killer-told-police-i-committed-murder-today

  2. here we go again: More asset price inflation namely housing:
    Reserve Bank expects to print $28 billion for ‘Funding for Lending’ https://www.stuff.co.nz/business/123364254/reserve-bank-expects-to-print-28-billion-for-funding-for-lending#comments
    Moana Moon
    So the Reserve Bank is going to spend up to $28 billion on a “Funding for Lending” scheme. In doing so, the government hands printed (fake) money over to the rich (banks, this time – to hell with the poor) who onlend the money, clipping the ticket in the process, and then remitting their profits to their offshore owners. Clever. Be kind to the banks.

    Meanwhile, house prices are hopelessly out of the reach of most first home buyers, and are now set to become much more so. Rents follow. According to one economist (Tony Alexander), the Reserve Bank secretly hopes that all this will stimulate the building sector

    Big_R
    Way to inflate asset prices and prop up banks profitability!

    The rich get richer (and pay no tax on their artificially inflated asset wealth) and the poor get poorer, sigh.

    Put that $28b into benefit increases and watch the economy boom as the poor will actually spend it and not horde it.
    YHarari
    The rich hoard additional money/income into further investments. They spend much less of their total income on consumption goods which stimulate the economy.
    Reducing tax on the rich simply fuels further asset price inflation.
    pacifica
    No money for disabled people to afford basic housing, even renting, but billions for irresponsible lending on large assets for those who are in the upper middle class. This is not a slap in the face it is a nail gun shooting into the brain for the many disabled homeless who cannot even afford to pay for basics, including those that are employed at $3 per hour and those who no employer will ever give them a chance to work regardless of the skills and experience they hold.

    Sodville
    Seriously ? this will just fuel the housing market even more. It’s a total myth that a strong bullish property market is good for the economy. The cost of housing is by far the biggest contributor to poverty and a reduced standard of living for many Kiwi households and printing more money is shortsighted and will lead to more financial pain in the medium to long term.

    • Correct me if I’m mistaken!
      That 28 billion lent to commercial banks means thay can actually lend out something like 5 to 10 times that amount: so called fractional reserve banking. We all know that’ll go on further asset inflation into the housing market primarily. Pouring fuel onto the raging fire of out of control house prices. Is Blaircinda’s government insane!?

  3. There is a solution to all this – but if I told you, I’d have to shoot you because it’d give the opposition the means to advance. That is, of course if there are any still left in Labour committed to its founding principles. (Although maybe given the state of the opposition, its worth a shot)
    Now that JA has backed herself into a corner (no CGT and all the rest of it), and given her stubborn streak (no doubt dressed up a being staunch – alongside that mean streak evident in Carmel) …..
    How’s about JA takes leave for 10-12 weeks (in order to get marriage and mooning with her honey) and some progressive individual takes the reins and does what’s needed in her absence.
    It’d probably require some impatient, non-incrementalist/managerialist little munter that remembers life before neo-liberalism, but there are one or two that exist. And they’d need to be sacrificial lambs, so they’d need plans for an after-life post doing something useful. Possibly a political masochist
    Then, after the 10-12 weeks, JA could swan back in BAU.
    It could be a win-win. Think of the opportunities for spin-doctors (ex ‘johnalists’), MSM “panelists”, failed HR professionals, and an entire enterage to keep being employed AND for JA to get no blame (in this space, going forward0

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