Jacinda & Labour supporting property  speculators: Welcome to NeoKindness  

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The shock that the Left are facing as they suddenly appreciate that Adrian Orr has not in fact been creating money to loan to the Government at 0% interest to rebuild the desperately needed infrastructure and underfunded public services and welfare system with, but that it’s actually going to corporate banks to feed property speculation is still taking its time to sink in.

We were all so grateful to Jacinda for saving us from Covid, we just assumed this extra cash was for that.

The banks are laughing all the way to themselves.

Jacinda’s NeoKindness is aimed at making the speculative property class feel richer.

Labour are actually advocating trickle down by flooding the market with cheap money so banks lend out to more speculators who feel wealthy enough on paper to spend on economic activity that supposedly helps the little people.

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It’s just so outrageous!

Once again, Labour are trying to use free market solutions to a market that is broken BECAUSE of neoliberalism.

We see house ownership as a means to make money, we don’t see it as a human right!

We need a multiple property tax, we need an inheritance Tax, we need a death duty tax, we need a land tax and we need a capital gains tax.

What do we get instead? We get a Labour Government creating money for speculators!

If Labour voters who don’t own property truly comprehended what is going on right now, they would explode with rage. Thankfully for Labour the media are so wedded to property speculation for advertising, there is never a critical word spoken.

We need a massive State House for life building programme to remove the desperation out of the housing market combined with more targeted taxes on the speculators.

Unfortunately we have NeoKindness instead.

 

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41 COMMENTS

    • Yep, and it’ll probably take till 2023 for it to hit home sadly (as things stand – I live in hopey hopey changey changey stuff). I hope I’m around to watch because it’ll be quite therapeutic knowing that the 2020 election was the last dance I had with a neo-liberal Labour.
      Least worst options are something elected dictatorships should have to deal with.
      Yea/nah …. next

  1. An interesting comment from a Stuff commenter, herewith recycled:

    “Ban banks from lending to buy rentals. If you want to become a landlord, either have the cash in full or build a new property to add to the housing stock”

  2. It could be worse. We could have the central bank sending money directly to the heads of corporations so they can use it to buy their own shares and push up the share prices, as per the US financial model.

    • It could be worse. We could have central banks directly funding a pharmaceutical company that MP’s have financial interest in and will profit immensely off experimental jabs on poc, olds and vulnerable in NZ. Praise thee Lord we aren’t the USA!

  3. The RBNZ has the monopoly on ‘money creation’ therefore it’s not really a free market.

    Those nearest to the newly printed money get to BENEFIT by both borrowing at near ZERO Percent and buying up assets (housing, equities) before inflation (due to said money creation) ticks up.

    This is not Free Market Capitalism. Buy Bitcoin.

  4. Meanwhile those needing funded meds get told sit down shut up and put up .
    Meanwhile those suffering under the mother of all budgets health welfare benefit system get told sit down shut up and put up.
    Meanwhile the stuff that would make the nmost difference gets put in then too hard baskets.
    Two ticks Green in 2023 fuck Labour not even going to get my seat vote next election fuck them.

  5. Those New Zealanders who don’t own houses should be very angry with Grant Robertson and the Prime Minister. They are looking at a life without ever owning a home, or if they do get a deposit and a mortgage, it’s a lifetime of debt servicing.

    Adrian Orr is Grant Robertson’s problem – he was appointed by Robertson, and given the broader task of supporting full employment so once a down-turn came, the Reserve Bank was always going to lower interest rates and print money when lower interest rates didn’t work to spur the economy. And sod-off to the young and poor without housing – Mr Orr says house prices aren’t his problem.

    Unfortunately, those people who already have a house – that’s the majority of voters – will love this because Labour is making them feel richer. A lot of boats and flash cars will be purchased on the back of higher wealth simply from owning the same house for a few years.

    • As a home owner, I don’t love it at all, and I certainly do not feel rich. We worked hard to buy a house, and worked hard to make it habitable. Two mortgages on the second home in a costlier city, and living at a fairly basic sort of level. Any unexpected expense, and there are many with children, could be a cause of quiet despair. I know the day to day grind of managing without money, and am dubbed privileged.

      Right now I worry in case I live long enough to see my home hit the million dollar mark, and the sanctimonious Greens force me into borrowing to fulfil their tax is love script. I could borrow for some basic repairs, try to do a lot myself, hope I don’t fall from a ladder. The elites who benefit are not me, nor are they the young parents working several jobs to service a mortgage – and nor do houses service themselves – it’s a fairly constant painting of the Firth of Forth bridge, not a matter of sitting comfy while prices rise – probably not for the many.

      Any anger I feel is not personalised, and I’m not sure that it should be, it is more an anguish about how this country is jeopardising the lives of the children of the poor, and the amorality and social stupidity of doing so.

  6. It makes you wonder if 1) its all part of a neoliberal conspiracy to transfer yet more wealth to the elite 2) that they know not what they do, in the sense that economic theory is a bogus science, or 3) more graciously monetary policy is a ‘blunt tool’ or 4) put another way, intentions are good but actors simply have no control over unintended consequences (which will in order to correct these unintended consequences then need more questionable tools and levers, ad infinitum).

    While personally sympathetic the NZRB Governor has distanced himself from the unintended consequences, acknowledging monetary policy as a blunt tool and calling on the government of the day to introduce fiscal and other measures. Will they take the necessary steps?

    Or is it all one big f*uck up and the ideology of pure reason serves no purpose other than to confirm how out of touch and disengaged the human species really are? Voltaire’s bastards offer nothing but illusion.

    • Exactly. You make me want to write Voltaire’s Bastards in a form the the average person can understand.
      I’m surprised someone like Dan Brown hasn’t already done so.

  7. Is so funny… and they do it with our money. One might argue that it’s the perfect crime against which the victims have no defence or redress. Is that irony or is that something new?
    Like ‘Pocketswoggled’? I invented that word just now BTW.
    They swoggle it off us then pocket it. Not to be confused with ‘hornswoggle’ which is similar yet different.
    To swoggle. To legitimately steal money from others with impunity. Think taxation within a neoliberal state? Or the mafia and could be another word for ‘racketeering’ except that in our case there are strident laws protecting the thieves. Mainly because the thieves wrote up the laws that give them protection. I’m laughing but I know I shouldn’t be. Why is that? What a predicament.
    Dictionary.
    Racket:
    2 informal an illegal or dishonest scheme for obtaining money: a protection racket.
    Perhaps a ‘racket’ becomes a ‘swoggle’ when the racket’s legitimised by an act of parliament or similar government authority while we watch rugby while beating the missus and kids after we get drunk because it’s all their fuckin’ fault and go the Blacks ! ( The All Blacks ! Brought to you by AIG, your insurance swoggler who’ve bought the All Blacks with your money to sell back to you, dumbasses. )

  8. I think Jacinda or Labour didn’t for a moment see this coming. But it should have been at the forefront of their conscious thinking. Money sucked into high rents and mortgages equals financial stress, equals money not circulating through the economy, equals poverty, equals dysfunction. This is a worsening crisis, can’t you see?

    There is no moving right along, no changing the subject, no nothing to see here. So what will it take Labour for it to wake up to the above simple facts?

    No Winston being a big ol’ meanie now stopping them sorting this ,mess out!

  9. Anyone that genuinely wondered what Labour might be like without the “Winston and Shane handbrake” now has their answer.

    Time to go Green people!

  10. The pure irony of our housing market is home owners on paper look rich but sell that house then what? You’ve got this get another of some form and they have just kept going up and up, a market of piranha real estate agents and investors.

    Aside from get rich quick investors, that our government encourage, it’s a fools paradise otherwise.

  11. When will a NZ govt grow some balls. Jacinta etc if you are listening, use your political capital to sell a different narrative that – done well – people will buy. The good people of NZ took the lockdown pain for the common good, now it’s time for many to take a hit to their over inflated property prices for the common good. And if they aren’t prepared to act in the common good I think they will find that before long social decay will force their hand for good or ill.

    • Makes perfect sense.
      Jacinda could be totally transformational within 3 years and then bugger off and reap the rewards at the UN and win that Nobel Peace Prize.
      But she is choosing to stay in power and become as reviled as John Key.
      Totally weird.

    • Having people’s Rates Bill reflect the cost of fixing and running various NZ cities might bring the cost of housing/land down dramatically.

      Wellington was talking about a 23% rates increase (pretty low) .. here in Christchurch we have 400km+ of underground piping that needs fixing, not to mention resurfacing many roads.

      UP THE RATES, maybe land hoarding and vacant properties won’t be such a thing. Aren’t there twice as many homes vacant in Auckland (40,000?), than people on the Social Housing Wait List?

      Sound like Labour want to fix New Zealand’s cities by taxing workers who can’t even afford to own RBNZ-Inflated-Property. Workers are already paying off their landlord’s mortgages. Guess they need to get a second job to fix their landlord’s cities too?

      As for ‘councils being useless’ – a common conflation used against my above thinking .. I’d suggest landlords, especially older Local-Body-Electors (Boomers) take their greed grievances out on the person in the mirror.

  12. Bomber can you book an appointment with your old friend and give her your recent list for action that a real Labour government should have already started !!

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