While activist woke tear into Uffindell the banks made an obscene $1.7b profit in 3 months
While activist woke tear into Uffindell (while ignoring Sharma) the banks made an obscene $1.7b profit in 3 months!
Banks made $1.7b profit last quarter despite economic headwinds
Bank profits are holding at near record levels in defiance of a slowing economy, rising interest rates and strong inflation.
Middle class identity politics rage is great at virtue signalling against heteronormative patriarchy – not so good at dismantling neoliberal economics!
The banks in NZ are so clever and devious that they can turn paying gst on financial services they provide as a tax on your KiwiSaver and we are all dumb enough to believe them!
That’s real power, when you can masquerade your profit margins as everyone’s interest.
This country is built economically upon stealing Māori land and never paying it back, exploitation of migrant workers to ensure a low wage de-unionised economy and the criss-crossing old boys network of monopolies and duopolies that dominate NZ industry.
Normally this crony capitalism goes unnoticed because everyone is benefitting, but with Covid killing free market capitalism and the climate crisis interrupting the economy, people are stressed out and frightened and feeling poorer.
Suddenly the exploitative nature of NZs under regulated free market is under scrutiny like never before.
Why are we paying international prices for Dairy that is produced in this country using a monopoly?
Why are the Supermarket Duopolies killing us on food prices as food inflation explodes?
Why has the Medical Cannabis oligarchy market failed?
Why did the Gib board market fail?
Why is the drainage industry held to the same demands of a duopoly?
And why the fuck are the Banks taking billions in profits while we suffer?
It’s time the Government had the balls to do what it’s supposed to fucking do!
REGULATE CAPITALISM!
The great jackboot of the State is constantly on the throats of the little people and the taxation yoke is pulled by them when the jackboot of the State should be on the throats of the powerful and rich with the taxation yoke lifted from workers onto corporates!
We need to be kinder to individuals and crueller to corporations!
Yes Government should buy and own and back Kiwibank and here is a list of other things that should be done to ensure NZs economic sovereignty in an age of geopolitical shockwaves which will demand more local infrastructure be it energy, pharmaceuticals, an expanded military, more manufacturing AND our own Bank!
- Take the Government contract for its banking needs from Westpac and give it to Kiwibank to boost our own.
- Open a KiwiBank branch in every town in NZ alongside other public services and use it as a community hub as well as banking.
- KiwiBank launch new flexible mortgage platforms for owner occupier first time home buyers that is Government backed AND offers to take any stressed out first time home buyers from other banks who are threatening to take them to a mortgage sale.
- Windfall tax on bank profits.
- Financial transaction tax that makes so much money from speculators and the super rich that it allows us to lower GST to 10%.
The Australian Banks have had it too good for too long, as late stage capitalism continues to implode and crash, we need new ways of ensuring our independence and self reliance.
Being at the mercy of Australian Banks in an under regulated market ripe for annual plunder is not a fucking economic policy!
We need to start regulating these monopolies and duopolies and oligopolies because that’s the job of a Government in a Democracy, to regulate capitalism so that its benefits are harvested and shared by everyone, not just by those making obscene profits at our collective expense!
The Banks made another obscene profit, and what are the woke middle class activists focusing on?
What Sam Uffindell did in a student flat when he was 19.
We gave become a farce of a political movement!
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The banks might be devious on the GST issue but who helped them out….the National Party. That has been pointed out by Seymour by the way, and Labour were too gutless to point out the real issue.
Yes woke activists are a pain in the arse but I don’t think you can hang Nationals stupid “another tax” angle and Labour being gutless (they even had support from the right in Seymour) on wanky wokeness
An anti capitalist approach needs to replace much of the infantile Labour vs National style debate here, which is about as much use as the “Chevs suck, Fords Rule” of my youth. There is a Parliamentary neo liberal consensus amongst all the main parties which needs to be broken by new gen voters if not in 2023, then a serious campaign in 2026.
Re the private school basher with the big schnoz–most of us surely can handle more than one issue at a time. Global capital and the Aussie Banks trail of exploitation and damage of course should take precedence, but I for one will not let this particular Natzo off the hook on account of that.
I think on the top of the obscene profits some of the banks wanted to take a little more from their customers.
ASB to reduce value of its credit card rewards schemes
https://www.stuff.co.nz/business/money/129896000/asb-to-reduce-value-of-its-credit-card-rewards-schemes
They may back down, but shows the mentality that is NZ big business which are allowed to take and take from NZ customers.
We live in a ‘Banksters paradise’.
Ocean view and ‘Success Court’ in Omaha is their final…destination.