Jacinda

[pete376403]

john key put nz in debt at a rate that increased by 60 million a day.....
#His mum raised him on the DPB
he raised NZ debt from 10Billion to 52 billion

And Key was raised in a State house by a single mother.

[R650R]

And Key was raised in a State house by a single mother.

Just shows how making the right decisions and doing some hard work in life pays off, the guy has been enormously successful in his life so far.

[sugilite:Me]

Just shows how making the right decisions and doing some hard work in life pays off, the guy has been enormously successful in his life so far.

It was especially classy of him to sign into law the ability for the banks to all give our accounts a 'haircut' if the poor banks fall on hard times.

Remind me again, what industry did Key move into after he left politics?

[pete376403]

Just like paula benefit, both took advantage of a generous state welfare system that gave them the opportunity to get a good start in life, and once in a position of power, used their position to deny that same generosity to others in a similar position

[R650R]

It was especially classy of him to sign into law the ability for the banks to all give our accounts a 'haircut' if the poor banks fall on hard times.

Remind me again, what industry did Key move into after he left politics?

I’m no fan of that either but of it wasn’t him in charge any other pm would have done same under global influences during the 2009 GFC. Muldoon effectively did similar thing when he devalued dollar overnight.
We did get a temp 50k bank deposit guarantee for couple years... labour is talking about a new scheme upto 100k protection on bank deposit by 2023.....

In any kind of “crisis” the govt of the day can pass new law under urgency at night and do what they like anyway. I’ve been quite surprised labour hasn’t done massive taxes for covid costs. Guess with record inflation they be getting a gst windfall plus extra tax from rising mon wage.

Even hard assets like Gold can be seized by govt agency under executive order in a crisis. In fact during the next crisis which will be used to usher in cashless you’ll be called a financial terrorist if you exchange or barter outside govt controlled digital currency.

[pritch]

Muldoon effectively did similar thing when he devalued dollar overnight.

That's how he country used to be run. I recall a Muldoon devaluation in late '67 but he probably did it at other times. Farmers expected a regularly devaluing dollar.

The other main items up for regular manipulation in our then 'command' economy were the hire purchase regulations and mortgages. Cars and houses are the two biggest ticket items most people buy, so the government controlled how easy or difficult it was to buy them.

[husaberg]

That's how he country used to be run. I recall a Muldoon devaluation in late '67 but he probably did it at other times. Farmers expected a regularly devaluing dollar.

The other main items up for regular manipulation in our then 'command' economy were the hire purchase regulations and mortgages. Cars and houses are the two biggest ticket items most people buy, so the government controlled how easy or difficult it was to buy them.

67?......... 82or 83 wasnt it.

[pritch]

67?......... 82or 83 wasnt it.

True. There was a devaluation in 'Nov or December '67, that would have been Holyoake's handiwork. It was one of two occasions NZ made the news where I was at the time. The other newsworthy event was the sinking of the Wahine.

[R650R]

While it’s no time uncommon to have a cleans out and make new resolutions at this time of year Jackie girl has called in crime scene cleaners to hose away the whole co-governance thing until 2024. Yep it’s an election year and she knows that depth charge will obliterate her last sense of bouyancy her u-boat has....
You got to wonder what her Maori voter base think of that level of commitment....

https://i.stuff.co.nz/pou-tiaki/3007...e-road-to-2024

Meanwhile the Maori party is chasing former voters that fled into the arms of “white supremecist” protest groups....I thought labour banned conversion therapy lol

https://i.stuff.co.nz/national/polit...g-the-pandemic

You couldn’t make this stuff up if you tried lol

[R650R]

Over promising and under delivering since forever....

[R650R]

Nuclear level fallout from the Marsden point closure...

The silver lining is a few craft beer makers may go under though and we can do with less of them.

Thanks Jacinda

[husaberg]

Nuclear level fallout from the Marsden point closure...

The silver lining is a few craft beer makers may go under though and we can do with less of them.

Thanks Jacinda

This is kind of an odd post for someone who expouse's the greatness of a free market economy and capitalism.
Are you suggesting some sort of state control over production to ensure they are stable cheap production comrade......

https://nz.finance.yahoo.com/news/ch...211346969.html
Channel Infrastructure NZ Limited's (NZSE:CHI) largest shareholders are individual investors with 53% ownership, public companies own 36%
The company – now called Channel Infrastructure but still partly owned by oil companies BP, Mobil and Z Energy – has stopped refining after a strategic
review.

The country should not rely on international refineries, which can come under geopolitical unrest, said organiser, Brad Flutey.​
That is a message touted by Whangārei-based Social Credit leader Chris Leitch.
​Leitch, backed by a petition of 18,000 signatures, argues the Government should declare the refinery a nationally strategic asset, and buy it off shareholders.https://www.stuff.co.nz/national/exp...should-we-care

How did the refinery end up in private hands?
Historically, New Zealand imported refined fuel, but in 1957 the National Government said the country should have its own refinery to save foreign currency, encourage industry development and gain security of a basic resource.

BP and Shell were invited to build it, but the international companies, focused on building plants destroyed in World War II, decided the market was too small and the country’s fuel demand did not match the crude oil it produced.

In 1961, Shell, BP, Caltex, Europa, and Mobil were encouraged to build a refinery as a joint venture and were allocated 69% of the shares of the New Zealand Refining Company.
The refinery was always run by a stock exchange-listed private company,
As part of Robert Muldoon’s Think Big era, the expansion was pushed ahead in 1980, with a Government guarantee to service a loan through petrol tax.

The project was dogged by serious labour disputes which caused delays, raised costs and threatened petrol supplies, leading the Government to pass strict, site-specific labour rules.

The project was finally completed in 1986, a year late and 20% over budget. The final cost, including the pipeline and tank farm at Wiri, was $1.85 billion – the equivalent of $9.4 billion today.
In 1988, the Government deregulated the market with the Petroleum Sector Reform Act.
To sweeten the deal, it paid the refinery $85 million over three years, as well as taking over the $US1.25 billion loan for the refinery expansion.
New Zealand Refining was hit by historically low refining margins, and the business was heavily impacted by Covid-19 – both from local lockdowns stopping Kiwis driving around and flights being heavily restricted.
The company responded with a restructure, or simplification, which cut 100 of the refinery’s 500 jobs, reduced its output and stopped the production of bitumen.
But it only managed to break even by relying on a minimum payment subsidy from its customers BP, Mobil and Z Energy, which cost them $115m from January 2020 to the end of April 2021.
On August 6, 2021, Refining NZ shareholders voted to stop refining and for Marsden Point to become an import terminal, with the loss of 240 jobs and 160 contractors.

[TheDemonLord]

This is kind of an odd post for someone who expouse's the greatness of a free market economy and capitalism.
Are you suggesting some sort of state control over production to ensure they are stable cheap production comrade......

'Twas the state control that shut down the refinery

[pete376403]

'Twas the state control that shut down the refinery

On August 6, 2021, Refining NZ shareholders voted to stop refining and for Marsden Point to become an import terminal, with the loss of 240 jobs and 160 contractors.
Which part of this is not true and correct?

[TheDemonLord]

On August 6, 2021, Refining NZ shareholders voted to stop refining and for Marsden Point to become an import terminal, with the loss of 240 jobs and 160 contractors.
Which part of this is not true and correct?

It was Tongue in cheek - referring more to the Labour/Green Agenda and the results of their stupid legislation that has lead to this point.