With interest rates rising – shouldn’t we smashing the Greedy Banks with windfall taxes?
As interest rates rise and a global recession looms, NZ’s corporates continue to make disgusting monopoly rentals from our economy!
Why on earth are we not talking about the obscene wealth the NZ Banks have made over Covid?
ASB made $1.4billion in fucking profit…
ASB bank posts increased annual profit of $1.42 billion
…and the Banks collectively made $6billion in profit…
Record profit: NZ banks made over $6 billion in 2021, KPMG report
…while charging Kiwis $5billion in interest…
Banks post record profits and close in on $5 billion in interest income as mortgage costs spiral
…why aren’t we hitting them with a windfall tax so we can rebuild the infrastructure that will allow us to grow back from Covid?
Britain passed windfall tax on Gas and Oil profits, why can’t we do it on our banks?
One reason is because our debate is shallow and petty and stupid.
Right now people are fucking bitching about a bloody chocolate bar wrapper!
Chocolate lovers’ sweet-as revenge on haters calling Whittaker’s Maori label ‘too woke’
…if you boycott a chocolate bar because it’s got Māori on the wrapper, you are the fucking problem and you are the reason we can’t have attention spent on things that actually matter and not the bleating of your petty ignorance!
Your brittle weakness is collectively beneath the challenge of our times.
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How much did Grant and his puppet Orr at the RBNZ splash out? $50B…
Maybe we should look at that too as it’s one of the key drivers behind this mess we’re in
No, printing up billions of dollars and forcing people to stay at home and do nothing for months on end was all gravy! /sarc
The true cost of this hopeless government’s covid response is coming home to roost (and the true cost in lives in mental health was yet to be realised). Given that it was ultimately all a total waste of time and money (since everyone got covid anyway), all the repercussions of this policy will eventually be rightfully reflected in the polls. Unfortunately we all have to pay for it, one way or another, regardless who we elect next.
Why does the Commerce Commission worry about the supermarkets when it is the banks that are killing us
Banks are a “necessary” evil. However, since they don’t really “create” anything and don’t offer a proprietary service, I would like to see all banks 100% publicly owned and operated, preferably at a local level (e.g. “Waikato Bank” or “Bank of Otago” etc). The government should have no real influence over these publicly owned banks and they should be allowed to succeed or fail based on their own policy.
Banks just need to sponsor more and put some of those profits back in the community. Closing all those high Street branches obviously saved a fortune.
A political system that served, we, the people, first and foremost, would indeed, reshape the banking world……