Why ACC is not, in fact, broken.

[HenryDorsetCase]

http://www.channel-six.com/acc-is-fi...ough-the-spin/


$11B in reserves? $1B a year profit, and its BROKEN?

My arse.

[Ozzie]

Fantastic link!

Now, how do we get that word for word in the Herald?

[NighthawkNZ:Me]

http://www.thestandard.org.nz/first-...ture-a-crisis/

[HenryDorsetCase]

the thing is, I personally find it really hard to deal with big numbers (like multiply the socalled shortfall of $77 by the car fleet numbers and such). I get there eventually but I am motivated to do so. So someone who is not a motorbicyclist is even less likely to be motivated to "get" that stuff than I am.

So Tama's little essay is great for people like me: morons with no maths skills and attention spans ruined by TV.

[rainman]

Fantastic link!

Now, how do we get that word for word in the Herald?

This information has been available to the Herald for some time. They won't run a real article on this because they've still got an embarrassing crush on the Nats. Besides, the sad truth is that many people just don't care and are quite happy to believe whatever bull is spun to them (as long as it's from their "team"), and would probably believe the privatisation-is-good argument without, well, any argument.

Truly, if there was such a thing as a political intelligence meter you could wave it around the typical NZ street without moving the needle.

[Mully]

None of this information is new.

In fact, ACC's CEO was in the Dom Post on Saturday talking about how well their investments are doing.

[Sam I Am]

well its new news to me.....sorry as pissed at paying any more than $300 Per year foe road tax i dont have time ( or interest ) to read every article on ACC.

many thanks for the link and now i am even more pissed at ACC

[YellowDog]

This information has been available to the Herald for some time. They won't run a real article on this because they've still got an embarrassing crush on the Nats. Besides, the sad truth is that many people just don't care and are quite happy to believe whatever bull is spun to them (as long as it's from their "team"), and would probably believe the privatisation-is-good argument without, well, any argument.

Truly, if there was such a thing as a political intelligence meter you could wave it around the typical NZ street without moving the needle.

The Herald is the government's propoganda mouth piece; hence the news is vetted and published a day after it alledgedly happened.

The Russians used to be criticised for this back i the 60s and 70s

[pete376403]

A couple of links at the bottom of the channel six article - one to The Listener and the other to The Herald. Mainstream media IS noticing the misinformation being put out.
http://www.nzherald.co.nz/politics/n...0561167&pnum=0

[k14]

I know that I can probably find this out somewhere but what was the argument for going from the old system to the new fully funded system? I understand the differences but can't for the life of me understand why they needed to change it?

[Ozzie]

I know that I can probably find this out somewhere but what was the argument for going from the old system to the new fully funded system? I understand the differences but can't for the life of me understand why they needed to change it?

To sell it!

I know Labour started it, but now National is planning to finish it.

Once it is fully funded, dare I say it, it will be really attractive to the OZ big guns.

And, how will it look for National, when they get NZ back into the black, by selling off it's biggest assets and screwing the public without them realising it?

National will look like the good guys, even tho they are far from it, and Labour's hands aren't clean either. Even if their leader goes out and buys a bike to be "one of us".

[k14]

To sell it!

I know Labour started it, but now National is planning to finish it.

Once it is fully funded, dare I say it, it will be really attractive to the OZ big guns.

And, how will it look for National, when they get NZ back into the black, by selling off it's biggest assets and screwing the public without them realising it?

National will look like the good guys, even tho they are far from it, and Labour's hands aren't clean either. Even if their leader goes out and buys a bike to be "one of us".

Yeah that is what I thought it pointed towards too but seeing Cullen initiated the changes I can't comprehend Labour selling it?? They were buying everything back last time so there must have been some other motive? I know that the Nats are lining up for that though!

[kave]

I know that I can probably find this out somewhere but what was the argument for going from the old system to the new fully funded system? I understand the differences but can't for the life of me understand why they needed to change it?

Ageing population, essentially the baby boomers are going to get to the age where their bodies are falling apart and ACC may have difficulty coping. Fully funding all claims now will reduce future pressure on the system.

[Ozzie]

Yeah that is what I thought it pointed towards too but seeing Cullen initiated the changes I can't comprehend Labour selling it?? They were buying everything back last time so there must have been some other motive? I know that the Nats are lining up for that though!

Labour didn't want to sell it, they wanted it to be self sufficient, make life easier for the Blue collar worker.

National, wants to appease the White collar workers, ballance the books. "We fixed the country". That is what National thinks its big business supporters want. What's better, they get to say to the rest of us that Labour did it.

Now, I am a white collar worker, but by no means rich, by any measure, fug, I live in the bronx.

I did vote National, but Mr Key hear me.....I am no dumb mo fo, and like I told Helen face to face in the main drag of Paps last year, live it up, if I have any influence, you wont be there long!

[Winston001]

I know that I can probably find this out somewhere but what was the argument for going from the old system to the new fully funded system? I understand the differences but can't for the life of me understand why they needed to change it?

Ageing population, essentially the baby boomers are going to get to the age where their bodies are falling apart and ACC may have difficulty coping. Fully funding all claims now will reduce future pressure on the system.

Kave has it in a nutshell. Its the same reason Michael Cullen created the Super Fund and Kiwisaver. If we don't save up right now, by the time we need the money there won't be enough working people to tax.

Its no comfort to know this problem is common to other Western economies and frankly I can't see an easy answer.