Support NZ Business - yeh right !!!!

[F5 Dave]

Super and retirement might go on to be experiments that lasted 3-4 generations before being scrapped. I blame Bismark . Guess he didn't expect the life expectancy of the general rabble to extend to such great lengths.

[BMWST?]

Both parties want to raise the age or National super but both know its an election loser, so we all pay for something we can no longer afford.

both parties l have been playing with this issue since 1972.It is a very well known fact that the boomers are retiring or coming up to retire soon.The fact that neither party had done anything meaningful is a disgrace(and i am a boomer).They could have announced their plans YEARS ago and everyone could have made appropriate plans,including the govt of the day to ensure a more efficent/affordable system had reserves to look after those who really need it.Now there is a double whammy to afford

[BMWST?]

That was not my intention to suggest or imply that. I said they had the majority of seats (for their Party). More than Labour had.

An unelected member of a small party ... with no electorate to represent ... talked himself into the position of Deputy PM.

And the funny part was ... many were surprised it could happen ... aside from the fact it actually did happen.

And I'm betting many would have wished for "Whole segment(s) of the vote" were ignored ...


Question ...was the end result of that election ... the intended result of the voting public (that actually voted) ..??

I think that that is an outcome that is NOT unexpected by those who promoted MMP in the first place.The suprised ones would be those that dont want MMP and or a died in the blue national party supporter

[pete376403]

both parties l have been playing with this issue since 1972.It is a very well known fact that the boomers are retiring or coming up to retire soon.The fact that neither party had done anything meaningful is a disgrace(and i am a boomer).They could have announced their plans YEARS ago and everyone could have made appropriate plans,including the govt of the day to ensure a more efficent/affordable system had reserves to look after those who really need it.Now there is a double whammy to afford

I blame Muldoon. He promised a free super scheme to replace the Labour contributory one. Voters let greed override logic. If the Labour scheme had been retained, and if subsequent governments could keep their fingers out of it, there would be billions in the fund today.

[TheDemonLord]

Funny enough the same people spoiut right wing clap trap the worlds over as to why they have to have a assault rifle as they need it in case the gov represses them....
yet when the right wing gov calls in the military to repress its own citizens, they have zip to say about it.

No, they are too busy guarding their businesses and their homes and their families from the rioters to protest.

[R650R]

the question was why would governments (all governments not just ours) destroy their economy & as per my reply to save lives maybe I didn't state this clearly enough, the up side for the people in power is that they get voted back in.
Our government did the saving lives bit OK at the expense of the economy. As you have stated lots of other governments around the world did a crap job on both counts crashed they economy and killed off their voter base, and look at the backlash they are experiencing due to the emotional cost of the deaths which is completely understandable.

In my opinion the economic fall out from the virus hasn't really got rolling yet, and the cost of printing money worldwide to paper over the cracks will impact the average wage earner with a much lower standard of living for a very long time.

If we where really onto it we would have shut ours boarders in January & quarantined returning New Zealand's in isolation camps for 28 days then we would have had no deaths and no shutdown and the only impact would have been to the tourist industry. This would have cost a lot less than shutting the whole country for 5 weeks even if you payed the tourist company's for their losses.

Bang on. That’s been the goal all along to decimate the world economy so we’re all on Chinese or Mexico level slave wages. Except of course that “lowering” wages is unpalatable so it’s done by stealth via inflation or economic disaster so people will take any job to survive.
They were planning to do it via carbon taxes, slowly lower is in to total oppression, but they took too long and too many people were seeing the gross lies predicted 20 years ago fail to happen.
Then they got cocky and fronted an autistic 16 year old and switched off everyone.
So how convenient that Covid whether natural or engineered came along to fill the same goals.
And to top it off we have race riots destroying the surviving small businesses and soon to be the food supply chain as amazon and other large centres get hit.
The Bolsheviks would have been so jealous of us getting the people to destroy their own society.

[ellipsis]

...they creamed it through the lockdown while small kiwi businesses died and I bet most kiwi's will continue to assist them cream it by using the aussie supermarkets and sending our money offshore...nobody wants to spend more than they can but how much of that kind of thought will see the end of our struggling home producers...

https://www.stuff.co.nz/business/121...-made-campaign

...another Jacinda and Co fuckup or just another jackup by the money brigade...?

[nerrrd]

I can never keep track of who 'they' are...

I'll also never understand why banks lending $10 for every $1 they have on deposit isn't basically 'printing money' as well, and that's been going on for decades.

[TheDemonLord]

I'll also never understand why banks lending $10 for every $1 they have on deposit isn't basically 'printing money' as well, and that's been going on for decades.

Money Velocity and the generation of Wealth.

[Jeeper]

I can never keep track of who 'they' are...

I'll also never understand why banks lending $10 for every $1 they have on deposit isn't basically 'printing money' as well, and that's been going on for decades.

That is not how the banking systems work, but let's not get facts in the way of an emotional argument.

[TheDemonLord]

That is not how the banking systems work, but let's not get facts in the way of an emotional argument.

Well, it's missing a lender of last resort - but it's mostly how the Fractional Reserve system works (albeit quite simplified)

[Jeeper]

Well, it's missing a lender of last resort - but it's mostly how the Fractional Reserve system works (albeit quite simplified)

It's missing the loans/lenders in general. And a few other facts. FRS was how reserve banks worked up to the 70s. Much has changed since.


The free money people often see is supporting the security system behind the mortgages and other lending. Take away the proportional side, and we would all need to buy assets with cash in hand including the house and bread we eat.

[Viking01]

https://wallstreetonparade.com/2020/...eek-over-week/

[TheDemonLord]

It's missing the loans/lenders in general. And a few other facts. FRS was how reserve banks worked up to the 70s. Much has changed since.

The free money people often see is supporting the security system behind the mortgages and other lending. Take away the proportional side, and we would all need to buy assets with cash in hand including the house and bread we eat.

I did say it was rather simplified - I agree entirely that without a Fractional Reserve system, that access to credit and therefore investment, improvement, home ownership etc. would be much more severely curtailed than it is now.

[pritch]

https://wallstreetonparade.com/2020/...eek-over-week/

Indeed. Thus the record stock market highs. In the current circumstances stocks in the US should be way down, but Trump has the formerly independent Federal Reserve pumping money into the stock market at a staggering rate.

One day the chickens will come home to roost. If a Democrat president is elected expect the Republicans to suddenly start screaming "fiscal responsibility" again. They've been strangely silent since Trump was elected despite his blowing trillions.