ACC being opened up to competition (not bike related)

[Winston001]

Privatize (and move offshore) profits, socialise costs so the taxpayer foots the bill, that is what Nick Smith has lined up for all of you.

Really? Can you explain why any New Zealand politician would do what you allege?

[Brian d marge]

Guys, the problems you highlight arise solely because ACC only covers injury by accident. If we had a true and complete public compensation system, sickness would also be covered. There wouldn't need to be any arguments.

isnt hat called free health care ...and wasn't that what New Zealand has/had? .....also read the History of ACC to see why it was set up like it was .... ( One to which I whole heartedly agree and wish to contribute to ,,,,)

Really? Can you explain why any New Zealand politician would do what you allege?

Under pressure from the IMF due to loans outstanding. They will open ALL SOE/Utilities etc , and the multinational will buy shares , ( in a nut shell) The costs of any services affected WILL increase and the locals Will be disadvantaged compared to before ....

So sayeth I .........

Stephen

[pete376403]

Given that several of the financial institutions that our current PM practiced his trade at have been involved in unethical dealings (Elders IXL, Merril Lynch) I wouldn't put it past him to sell the whole country if he could.
The movie "Inside Job" is a real eye opener about the US (and it follows the global) finances, in which Merril Lynch played a large part.

[mashman]

Really? Can you explain why any New Zealand politician would do what you allege?

I'd go for... It's business, not personal.

[Winston001]

isnt hat called free health care ...and wasn't that what New Zealand has/had? .....also read the History of ACC to see why it was set up like it was .... ( One to which I whole heartedly agree and wish to contribute to ,,,,)

We have national free healthcare. We do not have income protection for illness and disability.

ACC provides income protection but only if you have an "accident" in terms of the law.

Under pressure from the IMF due to loans outstanding. They will open ALL SOE/Utilities etc , and the multinational will buy shares , ( in a nut shell) The costs of any services affected WILL increase and the locals Will be disadvantaged compared to before ....

So sayeth I .........

Stephen

Stephen: New Zealand is neither in default, nor is it remotely near default of our sovereign borrowing. Furthermore I'm unaware of any loans borrowed by NZ from the International Monetary Fund.

In fact the world view of NZ is quite the opposite of what you imagine: the $NZ continues to climb above most other currencies, the $AU being the main exception. We are seen as having a safe, stable, recovering currency.

[spacemonkey]

When people whinge about our "out of control debt"
What they are missing is that our GOVERNMENT DEBT is piss all.
For all the frothing at the mouth by right wingers, the facts still stand that Cullen got rid of almost all government debt while he was in charge for finance.
Our problem with debt is PRIVATE DEBT! Which is crazy ape bonkers out of control due to our fixation on buying property...... As a side point this borrowing is also fucking up our foreign currency balance of payments too due to all the interest being given to the Aussie banks.

And the $380m a week that they love to harp on about..... well almost a quarter of that is the Nats Bill English forward borrowing for next years budget as the rates are so low right now.

Short version... IT'S A FUCKING HAVE!!!!!!

[Oscar]

When people whinge about our "out of control debt"
What they are missing is that our GOVERNMENT DEBT is piss all.
For all the frothing at the mouth by right wingers, the facts still stand that Cullen got rid of almost all government debt while he was in charge for finance.
Our problem with debt is PRIVATE DEBT! Which is crazy ape bonkers out of control due to our fixation on buy property...... As a side point this borrowing is also fucking up out foreign currency balance of payments too due to all the interest being given to the Aussie banks.

And the $380m a week that they love to harp on about..... well almost a quarter of that is the Nats Bill English forward borrowing for next years budget as the rates are so low right now.

Short version... IT'S A FUCKING HAVE!!!!!!

Congratulations.
You have made Mashmad look rational.

[spacemonkey]

Congratulations.
You have made Mashmad look rational.

Post up some facts to disprove then fella.

[spacemonkey]

And from NZ governments on stats....


I don't and foreign lenders don't see any problem with GOVERNMENT debt.
That's why what the Government pays gets rates is so low.... The NZ government is seen as a good bet due to low borrowing compared to GDP.
PRIVATE borrowing however is the bit that is fucking us up.
Short version is that we are the mirror image of whats wrong in the US where Government Debt is totally insane, and private debt is reducing.

[Brian d marge]

We have national free healthcare. We do not have income protection for illness and disability.

ACC provides income protection but only if you have an "accident" in terms of the law.

No arguements here if you are talking income protection etc , which would be part of the policy you decide with your insurer.

Stephen: New Zealand is neither in default, nor is it remotely near default of our sovereign borrowing. Furthermore I'm unaware of any loans borrowed by NZ from the International Monetary Fund.

In fact the world view of NZ is quite the opposite of what you imagine: the $NZ continues to climb above most other currencies, the $AU being the main exception. We are seen as having a safe, stable, recovering currency.



In reply;

My poor word choice sorry. No NZ is not in default , rather the opposite it very well run ( fiscally ) and is held in high ? regards as to its economic management , what are the bond rates for NZ 5% ..??

but like most banks , if you borrow money they do like you to follow their way, The Nz government can issue bonds ,, borrow from overseas banks , but the international banking watchdog , IMF of which America has a large say , lays down the borrowing guide lines . Which is to privatize ,and have a certain style of economic governance . If you dont your risk rating and hence the bond rate ( the cost of money ) goes up ( and all of the problems that go along with this style of governance) I for one never signed up for this . ( and a lot of others are saying similar , people in Ireland were making noises towards defaulting on the loans...)

Call me old fashioned , but I kinda like NZ, and all it has , to benefit ,,the people that live there, I'm not to keen on someones ROI causing another to think twice about heating their home because they cant afford it ....when in a country of ONLY 4 million that should NEVER be the case.

Stephen

[Oscar]

Post up some facts to disprove then fella.

In Sept 2009 the Govt debt was $23.9b.
In Dec 2006 it was $14.7b
Please explain how that relates to: "..Cullen got rid of almost all government debt.."

In the last quarter of 2010, Corporate debt fell by $5b.

[Winston001]

When people whinge about our "out of control debt"
What they are missing is that our GOVERNMENT DEBT is piss all.
For all the frothing at the mouth by right wingers, the facts still stand that Cullen got rid of almost all government debt while he was in charge for finance.
Our problem with debt is PRIVATE DEBT! Which is crazy ape bonkers out of control due to our fixation on buying property...... As a side point this borrowing is also fucking up our foreign currency balance of payments too due to all the interest being given to the Aussie banks.

And the $380m a week that they love to harp on about..... well almost a quarter of that is the Nats Bill English forward borrowing for next years budget as the rates are so low right now.

Short version... IT'S A FUCKING HAVE!!!!!!

Mostly you are right. I'm not a Labour supporter but I've said on here before that Dr Cullen did a good job as Minister of Finance. He was nevertheless hamstrung by his caucus which spent money on social policy as fast as he could save it.

Private debt is a problem which the government is trying to cure by tightening the economy. Think of it as the govt giving leadership.

The $380 million/week is real and its a problem. That would build an huge number of new schools, hospitals, roads, rural broadband etc etc. This is not a "have". The money is real.

[Winston001]

No NZ is not in default , rather the opposite it very well run ( fiscally ) and is held in high ? regards as to its economic management...

but like most banks , if you borrow money they do like you to follow their way...

...Which is to privatize ,and have a certain style of economic governance . If you dont your risk rating and hence the bond rate ( the cost of money ) goes up ( and all of the problems that go along with this style of governance) I for one never signed up for this . ( and a lot of others are saying similar , people in Ireland were making noises towards defaulting on the loans...)

Call me old fashioned , but I kinda like NZ, and all it has , to benefit ,,the people that live there, I'm not to keen on someones ROI causing another to think twice about heating their home because they cant afford it ....when in a country of ONLY 4 million that should NEVER be the case.

Stephen

I like NZ too and I honestly don't see the problem. NZ is able to borrow at low interest rates because we have a stable political system and economy. It doesn't matter who controls the govt - Labour or National, our credit rating is generally good.

The good people of Ireland enjoyed a 15 year spending spree and a leap in their standard of living. And now they don't want to pay the bill...??? I'm thinking the "Zimbabwe of Europe" is coming.

What happened is the Irish govt - democratically elected - guaranteed all bank debt which loaded an almost impossible burden on the Irish taxpayer - thats what all the fuss is about. Can't remember the details but they went further than other govts when they didn't have to. It looks like panic or a punt that their economy would bounce back.

Besides, the Irish have the EU to back them up, just like Greece and Spain. We don't have anyone.