Inside New Zealand

[mashman]

Re read that article , it says "wealth creation " which could be "savings"

yes , As I pointed out , "abe Economics " is about getting the money to flow "quickly" If you "save " that’s good the bank can lend , ( bank or financial institution ) but the money must create "capital wealth" which then drives production ( but production needs consumption)

( least that’s how I read it )

So the "more the bank lends and the more the money is used to create Capital wealth ( plant and machinery etc) the more production rises. The more production the more consumption rises and the money flows ie drives the economy

but what happens if no one is buying ? ie not spending what happens to the value of the "wealth " ??and production?? and if money is the conduit for capital transfer the more "Money " you can move the greater your accumulation of capital wealth , possibly creating a divide between those that can , and those that cant .

least that’s how I read it

As for wages , I invest money in a new plant , to make cars , I invest in robots ,,the cost of cars drop due to efficiencies but what about the worker ? retrains ?

the link needs to be thunk about more and possibly a re-reading of Hayak ( I which he could have discovered the paragraph )

Stephen

Confidence is a bitch in a world that consistently promotes anti-trust eh.

[Brian d marge]

Confidence is a bitch in a world that consistently promotes anti-trust eh.

confidence , that dirty slut

Stephen

[Brian d marge]

I just watched that whole thing again and never saw the oil.

I made that bit up , my bad,,, seeking attention , sorry

Stephen

[mashman]

I made that bit up , my bad,,, seeking attention , sorry

Stephen

You realise that you're going to end up in discreditation hell for those remarks.

[Brian d marge]

btw , an anagram of "debit card" is Bad credit

who would of thunk

Stephen

With any luck, the new minister responsible for regulating New Zealand’s supermarket duopoly will tell them, with great dignity and politeness, to go fuck themselves. hahahahahahahaaaa

[mashman]

btw , an anagram of "debit card" is Bad credit

who would of thunk

Stephen

With any luck, the new minister responsible for regulating New Zealand’s supermarket duopoly will tell them, with great dignity and politeness, to go fuck themselves. hahahahahahahaaaa

Gizza job.

[BMWST?]

It maybe a. But sensationalist or there maybe a hidden story behind it
But it still doesn't distract from the idea that A: they should be in at least temporary housing or at least offered housing and/ or B: we have become or are becoming a nation of "me" first
I believe ,as do others and the programme itself highlighted, is due to economic theory/conditions
Stephen

there is temporary housing i guess there aint enough of it.

[Brian d marge]

Gizza job.

jazz big o

Stephen

[Slicksta]

I dropped out of school at 5th form went to work in retail now at 26 I still work in retail and actually really enjoy it.
Brought a house too on retail wages by myself its not that hard you just have to buy a house and get yourself set up before you have a family planning is everything.

When ever speaking to chaps with more grey hair than I they never seem to think the 50s/60s was a glorious time of great wealth and prosperity for all families often skimped by not actually acquiring as many material possessions as what most average families have today.
Perhaps I am wrong but it seems over the years things improve and everyone thinks they are getting worse.

[Brian d marge]

I dropped out of school at 5th form went to work in retail now at 26 I still work in retail and actually really enjoy it.
Brought a house too on retail wages by myself its not that hard you just have to buy a house and get yourself set up before you have a family planning is everything.

When ever speaking to chaps with more grey hair than I they never seem to think the 50s/60s was a glorious time of great wealth and prosperity for all families often skimped by not actually acquiring as many material possessions as what most average families have today.
Perhaps I am wrong but it seems over the years things improve and everyone thinks they are getting worse.

cost of house in 1950 $8,450.00 , 1960 $12,700.00 ,

In 1950 the average income per year was $3,210.00 and by 1959 was $5,010.00

so the average mortgage was about 20% of your income , of course it was better

Stephen

[MisterD]

so the average mortgage was about 20% of your income , of course it was better

Yeah but most families would have had one car, TV's were rare, "eating out" meant fish & chips, fashion labels?, foreign holidays?...

House price inflation is an effect of dual-incomes and cheap credit, not a cause of it.

[Banditbandit]

When ever speaking to chaps with more grey hair than I they never seem to think the 50s/60s was a glorious time of great wealth and prosperity for all families often skimped by not actually acquiring as many material possessions as what most average families have today.
Perhaps I am wrong but it seems over the years things improve and everyone thinks they are getting worse.

"Better" or "Worse" depends on how you define it ...

When I left school in the early 1970s there was an "unemploymetn crisis" in Ndew Zealand .. previously there had been jobs for everyone - but in 1973 there were 2,000 unemployed people in the whole country - that's right - not just in one city but across the whole country ... That's significant as most families had at least one, and probably only one, breadwinner .. and so they could feed, clothe and houe themselves ... that's no longer true - some families are living on Governmet handouts and inothers both paretns work just to feed, clothe and house the family ...

Back then, average house prices were about four times the average annual wage ... and there were a few really really expensive houses - but most houses were average to good and people could afford to buy one ... House prices have increased ahead of wages and now they are too expesive for some peopel to buy ... Now some people expect to buy a $1million plus house in Auckland ... (somethign like 15 suburbs in Dorkland have average hous eprices of more than $1million - ridiculous ...) ... a $1million house is the same price as four $250,000 houses ... so one family gets a house and three others don't - there's a massive change in the wealth distribution in this country ... and it impacts on many things ...

Al that money tied up in expensive real estaste is doing bugger all for our economic growth and investment - capital is locked up in land and bricks and morter ...

The expectations of a small group of people is that they will get rich .. but they can only do that at the expense of other people ... pay your workers minimum wage and get to cream off huge profits ...

Corporations are paying millions of dollars in bonuses to senior managers .. where do you think the moey comes from ???

Yes, we have more material goods available to us now .. does that make us happy? It makes some people happy and a lot of people poor ...

Yes, I think thngs were better back then ..

[mashman]

jazz big o

Stephen

bag o jizz

[Brian d marge]

Yeah but most families would have had one car, TV's were rare, "eating out" meant fish & chips, fashion labels?, foreign holidays?...

House price inflation is an effect of dual-incomes and cheap credit, not a cause of it.

thats right

Tvs were new, so expensive , basically the efficiencies of modern production wasnt there . Also import taxes..

Fashion label oh they were there alright but remember NZ was operating in a closed/protected import environment so "prada" wasnt exactly available and if it was it was stung by import tax

So people couldnt afford and didnt buy .

Stephen

not in a position to check the details right now can do if req

[SPman]

Our top income decile starts at a mere $72,000.
The top one per cent begins at $170,000
The top 0.4 per cent at $250,000.
Presiding over this tiny group are the chief executives of large companies who receive an average salary of $1.5 million.
Meanwhile, 70 per cent of New Zealanders earn less than $43,000
50 per cent earn less than $24,000

- Max Rashbrooke, - `Inequality: a New Zealand crisis '

Between 1997 and 2006,for example, transnational corporations made NZ $50.3 billion in profits from their New Zealand operations, yet only 32 per cent of this sum was reinvested domestically.

As of 2011 a global super-entity of 147 interlinked firms predominated. All of the top 50 except one were financial institutions. Wade comments that `such concentration provides financial firms with the leverage to colonise the governments of nation states and shape public policy in line with their preferences`


http://thedailyblog.co.nz/2013/09/03...s-real-agenda/