Unemployment at 10-year high — Free Market Cheerleaders say relax
New Zealand’s unemployment rate has surged to its highest level in over a decade, but the Government and free-market cheerleaders are insisting everything is fine. With Māori and Pacific unemployment in double digits, food banks overwhelmed, and households under pressure, many Kiwis are asking who this “recovery” is actually meant to be for.
The disconnect from reality that the National Party and Free Market Cheerleaders live in vs the economic vandalism we are all experiencing in real time can not be highlighted better than the explosion of justifications we are hearing that are reframing the terrible unemployment numbers as a wonderful moment to be alive.
Like Trump and ICE, they are telling you to your faces that the economic malaise you are experiencing is false.
We all saw ICE agents execute two innocent people while they told us they were domestic terrorists.
Free market cheerleaders and economic denial
We all are experiencing the true damage of a Cost of Living crisis exacerbated by the economic vandalism of this Government but the Government is trying to claim that the Unemployment rate being 5.4% is actually fantastic!
That the 6.4% unemployment rate in Auckland and 5.8% in Wellington is wonderful.
Māori and Pacific unemployment exposes the real damage
That the 11.2% unemployment rate for Māori and 12.3% for Pacific peoples is somehow an economic miracle.
The margin of error from our Free Market Cheerleaders sounds so delusional in the wake of the result…
“Data out this week should show the unemployment rate dropping for the first time in four years on the back of the strongest quarterly growth we’ve seen in about two years of reporting.”
…the free market cheerleaders all have to be wide eyed optimists to help awaken the animal spirits of capitalism and any doubting Thomas or nervous Nelly pessimism is viewed akin to being a Marxist cancer PermaBear amongst the Business journalists and Economic pundit class.
Here’s the fucking reality.
Highest unemployment rate in over a decade
This hard right Government with their anti-Māori, anti-Treaty, anti-Beneficiary, anti-disabled, anti-renter, anti-worker and anti- environment agenda that strangles the common good for their donors interests is so wide eyed when it comes to free market mythology that they believe the state cutting back allows the market to step in and do it cheaper and that’s why they destroyed Labour’s Infrastructure pipeline in 2024!
They are such ideological storm troopers and acolytes that they don’t care about the social carnage their free market experiments cause because that decision alone has generated a cascade failure throughout the economy! It saw 140,000 Kiwis flee NZ in 2 years, you can’t lose that many skilled workers and not self mutilate your economy horrifically!
The extreme social policies that have driven homelessness and poverty has a real world impact and all the free market cheerleaders and National Party politicians are trying to convince you that the burning village has an upside – lower energy costs.
I’m not sure being told be Economists and rich politicians that the good news is you won’t be paying any power bills now your village is in embers is the positive hot take they think it is.
Austerity for workers, socialism for donors
It is that mentality that highlights how out of touch these rich pricks are.
These are the same people who told us to ‘survive until 25’ until we got to ’25 and it was worse!
Bernard Hickey makes the point that the previous state cutbacks to deal with the 1990, 1997, 2007 and 2020 recessions only worked because the level of private debt and business debt was so low, however it is far higher now meaning households and businesses can’t step in to pick up the cost of the cut backs.
There is a fundamental problem with the strategic thinking of this Government when it comes to the economy – User Pays doesn’t work if the users can’t pay!
You have unemployment lifting as the IRD crackdown lifts liquidations to a 16-year high, and yet we are being told that the piss we are feeling is actually a refreshing shower.
You can’t borrow more than Labour and then blame Labour’s borrowing as the economic problem!
National have borrowed $14 billion for tax cuts we can’t afford while hollowing out Public Service budgets.
It’s Austerity for us, Socialism for their rich mates.
25% ,according to the governments pet economist informetrics ,are in part time employment .Its no wonder the economy is tanking .If you are doing part time work the rent will take it all .They trumpet 7000 jobs in manufacturing but then say they are all part time ones .The economy shank 1% last year so will need to grow 2% this year to catch up because inflation is eating 3% or more so we are in fact going backwards as we have been for years .Inflation creates the false impression of growth because prices have risen so people think they are producing more when in fact they are earning less .
https://www.stuff.co.nz/nz-news/360934778/haeata-community-campus-disputes-mpis-mouldy-school-lunch-claim
Another absolute mess by the ACT government.
Bomber. I think that after 40 years free market policies are no longer an experiment.
Neo Liberal economics have become the only accepted economic and social approach in middle earth that is now never criticized apart from on this site and Hickey , Bryan Bruce and a small number of other enlightened individuals.
This system and the forces that control and continue to implement its doctrine have become with our help and indifference now control and invade every aspect of our lives and future.
Experiment suggests – An experiment is a systematic procedure carried out to test a hypothesis, demonstrate a known fact, or discover something new. It involves controlled observation and manipulation of variables to determine cause-and-effect relationships.
The free market has had plenty of time to test its experiment.
Every indicator that matters shows that its a failure unless you are a corporate entity , have extreme wealth or a member of parliament of the real right who will continue to preserve the current narrative despite the economic and social holocaust that so many of our people are experiencing.
Just in case anyone is still in doubt.
UNEMPLOYMENT IS NECESSARY FOR CAPITALISM TO FLOURISH.
By’ flourish ‘- to make money for a few and leave the majority in poverty.
Engels and Marx say this about the ‘Reserve Army of Labour.’
Big industry constantly requires a reserve army of unemployed workers for times of overproduction. The main purpose of the bourgeois in relation to the worker is, of course, to have the commodity labour as cheaply as possible, which is only possible when the supply of this commodity is as large as possible in relation to the demand for it, i.e., when the overpopulation is the greatest.
Overpopulation is therefore in the interest of the bourgeoisie, and it gives the workers good advice which it knows to be impossible to carry out.
The above theory, however, which is also expressed as a law of nature, that population grows faster than the means of subsistence, is the more welcome to the bourgeois as it silences his conscience, makes hard-heartedness into a moral duty and the consequences of society into the consequences of nature, and finally gives him the opportunity to watch the destruction of the proletariat by starvation as calmly as any other natural event without bestirring himself, and, on the other hand, to regard the misery of the proletariat as its own fault and to punish it.
— Karl Marx, Wages, Dece
‘The main purpose of the bourgeois in relation to the worker is, of course, to have the commodity labour as cheaply as possible, which is only possible when the supply of this commodity is as large as possible in relation to the demand for it,’
Capitalism needs many unemployed people competing for scarce jobs to keep wages levels low and working conditions intolerable.
‘it gives the workers good advice which it knows to be impossible to carry out. ‘
Sanctioning unemployed people when they do not find work that does not exist.
‘makes hard-heartedness into a moral duty and the consequences of society into the consequences of nature.’
‘to watch the destruction of the proletariat by starvation as calmly as any other natural event without bestirring himself,’
We are now largely unmoved by the plight of homeless people.
‘to regard the misery of the proletariat as its own fault and to punish it. ‘
Beneficiary bashing.
Bourgeois in this context means Right Wing Arseholes.
RESTORE STATE SOCIALISM IN AOTEAROA! DESTROY CAPITALISM! RATIFY THE TREATY OF WAITANGI AND MAKE IT LAW!
Sometimes I listen to Heather DPA
Its a game of how long can i last before i call her a cunt and change channels.
The other day she was ignoring the main stat that unemployment was at a 10 year high, cherry picking some of the minor stats to support her ‘reckon’ that the National govt promise of growth was working and the economy had turned the corner and that it was the threat of a Labour govt. later this year that wàs holding growth back.
A new record of 3 minutes was set before profanity filled the car.
Well done you and yes for so many reasons she’s a “C”. Needed to marry a sugar daddy to gain residency, part of the South African against black’s group, so clearly hates Maori and espouses her right wing vomit all over a minor radio station. So yes she is only manageable for 3 minutes tops.
Golly gosh this is fun!
Neoliberalism’s failure is getting harder and harder to hide. The longer the failure is denied, the bigger the mess.
Hey!
Where’s Trev?
Just yesterday he was claiming that “the left” want the country to fail so we can continue to hate Luxon…
Trev was very sad about this thing he dreamt up / imagined / read on Facebook.
Surprised he hasn’t resurfaced to repeat this insanely stupid claim which is supported by zero evidence.
Perhaps Trev, people hate Luxon because he’s a spineless waffler who is patently out of his depth and is in fact, fucking over our country.
Look at his interview with Ryan Bridges on the US strategic minerals coalition. The panic was palpable and he seemed to know nothing about it, even though it’s in process.
Fucking pathetic.
But Trev is a glass half full of cow piss sort of guy. Just like Luxon, his grim trophy wife and their Biz-Bro self help library.
Trev is laying low waiting for the next rogue poll that supports Nashnull
The last poll showed there are more people in my camp than in yours which is proof that there seems to be no great demand for change like there was in 2023 after 6 years of Labour .
Most people spend some time in their working life unemployed and it can lead to new opportunities .It is not seen as a black mark like it used to be .
Which poll, the right wing poll? The unemployed have left for Australia you fuck wit. Okay so yes, new opportunities in Australia whilst New Zealand are left with immigrants like yourself who came to NZ on a triple exchange rate and Indians who work for below minimum wage. Yor comment is once again a generalization of your beliefs and not reality of a country at rock bottom.
This inept coalition are not only prolific liers they are thicko’s! High unemployment tells us the economy is in real trouble but they continue to brain-wash their ‘sorted’, smug enablers, many of whom should know better! This CoC has systematically and spitefully: *Cancelled Labour’s infrastructure pipeline 2024: *Disabled Three Waters and replaced it with a dumb deal that is costing much more: *Cancelled the best ferry deal, due 2026, replacing it with a more inferior version and incurring huge cancellation costs. Their petty, spiteful destruction of our lovely NZ is endless and they won’t rest until everything ‘beneficial to the sorted’ is privatised and NZ has gone down the gurgler. There are NO checks and balances, NO leadership, in fact NO brains engaged. Why the dumb affluent keep voting for them beats the hell out of me. Time for our media to grow some b&lls before it’s too late!
Yep….they are gas lighting the public at every turn….also known as lying…
The clusterfuck …created solely by them… has spread so far and so wide that false narratives to hoodwink is now the major pillar part of the grift.
They have no answers because they have no questions… about anything…
Critical thinking….wwwhat’s that?
A final deal on the new ferries is no where to be seen ,just some pictures of someone elses ferries .There will be no costings till after the election because they will be more expensive for an inferior product .