Rip off Smith spouting shyte again

[Brian d marge]

On the news saying there wont be anymore increases as people are financially suffering enough , and that the ACC is clawing its way back from the HUGE debt it has

PLEASE PEOPLE GET RID OF THEM


Stephen

[MSTRS:Me]

The debt? The one that isn't real? That exists on paper only? Because of the way they show their liabilities?

Same as saying...'You know that mortgage you have? Well, you have to pay it all this year. Yep - all of it."

That kind of debt?

[Brian d marge]

The debt? The one that isn't real? That exists on paper only? Because of the way they show their liabilities?

Same as saying...'You know that mortgage you have? Well, you have to pay it all this year. Yep - all of it."

That kind of debt?

thats the one !

the one needed to privatise ACC

Stephen

Ps Emailed Jim Mora about it but he is choosing to ignore it ,,,,,,,,,,,,,,,,,,,,,,,,,,

[Maha]

Nick has just become an 'Easy Target' well, an easier one, he always did have 'Pick me' stamped on his fore head.

[Brian d marge]

Nick has just become an 'Easy Target' well, an easier one, he always did have 'Pick me' stamped on his fore head.

but he makes it so much easier by following the party line , not thinking ,,,,and opening his gob

Stephen

[rainman]

PLEASE PEOPLE GET RID OF THEM

Righto cap'n, you can count on me to play my part in their downfall!

[puddytat]

I'll help too.... Ill tie him to the post & on the one next to him will be his mate Jerry......
then the next one'll be

[Winston001]

The debt? The one that isn't real? That exists on paper only? Because of the way they show their liabilities?

Same as saying...'You know that mortgage you have? Well, you have to pay it all this year. Yep - all of it."

That kind of debt?

Life insurance companies have to cover the future risk of people who haven't died yet. Why would ACC be any different??

[Brian d marge]

Life insurance companies have to cover the future risk of people who haven't died yet. Why would ACC be any different??

Got a feeling they , don't but could be wrong ,,,,

ACC is different because it ISN'T an INSURANCE , its a pot of money they whole society can dip into , when we ( or others ) screw up

we ALL contribute and WE ALL benefit ( even Filthy Mac Rich. or toolongaloafa)


Stephen

[riffer]

Yes it is rather irritating. We should have all seen it coming when they changed the accounting rules a while back but as usual, you can never quite anticipate exactly how it's going to screw you when they do this stuff. We haven't even started to see the impact of the ETS in any of this yet. Just wait until that starts to happen.

And sorry Stephen, they're already turned ACC into an Insurance Company.

You are aware that the Hon N. Smith is the Minister for the Environment aren't you? This has me more worried than the ACC stuff. They're going to have to change the laws again to try and screw us more on ACC and we can counter that easier with facts. When it comes to climate change we're up against a worldwide propagandist organisation that's a lot harder to refute.

[Mom]

but he makes it so much easier by following the party line , not thinking ,,,,and opening his gob

Stephen

So when are you coming back to NZ to join us?

[davereid]

Life insurance companies have to cover the future risk of people who haven't died yet. Why would ACC be any different??

Of course an insurance company is required by law, to have adequate reserves to meet its obligations. Thus it cannot simply bail out of large claims if its day to day revenues can't fund its obligations.

ACC on the other hand doesn't need to do this. It can set each years premiums at a level that reflects that years costs. As it is compulsory, and has no competition there is no danger with this approach.

[paturoa]

Here are some stunners ....
http://www.stuff.co.nz/national/heal...-levy-increase

There is no 10.3 billion dollar deficit. This is only the gap between being fully funded (based on some fairly BIG assumptions) and where they are now.

Does anyone have the measure of how much is already in the coffers, over pay you go?

That would be a major!!!!!! pot of gold for a future govt to raid if the decision was made to revert to a PAYG basis.

[Ocean1]

Of course an insurance company is required by law, to have adequate reserves to meet its obligations.

Which they manage not by accumulating a great wad of cash, (no no no no). They spread the liability around amongst other insurance companies, insuring themselves against the big hit.

Governments are wonderfully gullible when faced with profesional extortionists, the rules they set are usually reactive and inefective.

A couple of decades ago the whole house of cards very nearly fell when a statistically unlikely series of disasters occured across Europe within a single year.

Which begs the question: why don't ACC do the same, instead of rorting a McDuck sized mountain of cash from us?

Seriously.


Wouldn't be an alterior motive there perchance?

[davereid]

On the news saying there wont be anymore increases as people are financially suffering enough , and that the ACC is clawing its way back from the HUGE debt it has

On the bright side, it would appear that our protests have had some effect.. Mr. Smith is clearly not unaware of the movement against him, and the proximity of an election..