Forum whore
Government policy has played a very big part in the development of the sub-prime mortgage crisis.Originally Posted by idleidolidyll
In particular the following two policies have led to NZers making disproportionate investments into residential real-estate :
1. No capital gains tax on residential property investments.
2. Enabling LAQC tax losses to be applied against investors' personal taxable income (thereby enabling investors to gain deductions on their personal taxable income).
Iiimbecile-baiting since 2007
And as I can now see what the iiidiot wrote, it's pretty easy for me to contradict the two things he's accused me of. The easiest way to demonstrate this, of course, is simply to link to the post I believe the iiidiot's referring to.
But, just in case he can't be bothered reading it:
- I never said to take out the entire food industry out of the equation when considering the economy; I said that if it hadn't have been for the large increases in the global commodity prices for dairy and wood, NZ's balance of payments deficit would look much worse than it did. It was the global commodity prices that helped mask the fact that increased compliance and employment costs had stifled trade and industry.
- I never mentioned anything about the sub-prime mortgage fiasco or Labour's (non-) involvement in it. For the record, iiidiot, this particular global financial fuck-up had nothing to do with the policies of Labour, though Labour's economic policies have reduced NZ's ability to weather any global economic downturn that may result from it and other factors.
The 18th century British playwright and politician Richard Sheridan once accused a rival in a speech in parliament of being "indebted to his memory for his jests and his imagination for his facts". The same accusation can be levelled at the iiidiot except he doesn't make any jests. His highly selective recall of what people have previously said combined with his provision of fictional facts and figures have only one aim; to support whatever viewpoint he happens to have adopted for that particular post (or paragraph).
Perhaps he'll try a little harder next time, though as a dyed-in-the-wool socialist, the idea of expending effort on anything is probably alien to him.
Forum whore
You know, I basically agree that unchecked multinational capitalism is destroying this world. Just evidence the totally needless hike in fuel prices alone on the back of speculation and god knows what else. These parasites subscribe to the fatal human flaws of greed, power and corruption. But then those same flaws are just as apparent in full blown socialists, Messrs Clark and Cullen being ''shining'' examples. And why does ''socialist'' China allow its people to be used as battery hens by the multinationals?
I think irrespective of which side of the political fence one sits on we can all agree that there is a hell of a lot of exploitation going on. I subscribe to ''a fair days return for a fair days work'' I also subsrcibe to helping those genuinely in need but what I despise most are those at both the very top and at the very bottom openly milking the system.
Psyclepath
Maybe because the capitalist economic boom in China is lifting more people out of poverty every month than the socialist politics of jealousy could ever dream of?
Only a homo puts an engine back together WITHOUT making it go faster.
Easily wound up!!
It seems to me that as soon as you start putting social contraints upon capitalism you are in fact upon the pathway of socialism. From there the debate simply becomes about how far to go.
"There must be a one-to-one correspondence between left and right parentheses, with each left parenthesis to the left of its corresponding right parenthesis."
Forum whore
Indeed, a balancing act.
Forum whore
A balancing act that seems to be almost impossible to attain, given most countries efforts.
Why do most people on this site equate Socialism, with communist dictatorship? A repressive regime is a repressive regime, whether it be communist dictator or a big business controlled right wing totalitarian state. People suffer under both ends of the scale,
A governments first obligation is to it's people - not big business, not vested power groups, the people, without whom, the government wouldn't exist. Unfortunately it seems that governments conveniently forget this, become arrogant, corrupted and venal. Multi national corporations seem to go the same way - as their power grows, so, too, do they get more arrogant, corrupted and more and more venal. Ultimately, it ends up the same - a small group of people having power and control over the rest, the 10% of the people owning 90% of the assets scenario.
Thomas Jefferson had some things to say on it that are as relevant now as they were 200 yrs ago:-
- "Where the press is free and every man able to read, all is safe." - lost the battle on that one
- " Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." - nope, that's on the slippery slope as well - the public seems to want to be ignorant
- "If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be." - about time a few more people pulled their blinkers off, walked away from their toys and gizmos and actually looked a little harder at what's going on in the world and their countries
- "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered...” - hmm, sounds like the sub prime criminality, foisted on the world by greedy, unscrupulous bankers, aided and abetted by a venal corrupt US government!
- " I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country." - well, he failed on that one - multi national corporations anyone.
- " Timid men prefer the calm of despotism to the tempestuous sea of liberty." – put up with arseholes like Bush, Blair and co with restrictive laws smothering liberty, movement, communications etc and believing all their induced hype about “terrorists”
- "All tyranny needs to gain a foothold is for people of good conscience to remain silent." - and when they do speak up, it's usually too late!
and the one I like best:-
"The spirit of resistance to government is so valuable on certain occasions, that I wish it to be always kept alive. It will often be exercised when wrong, but better so than not to be exercised at all. I like a little rebellion now and then. It is like a storm in the atmosphere." - keep the bastards on their toes, if only through the ballot box
“- He felt that his whole life was some kind of dream and he sometimes wondered whose it was and whether they were enjoying it.”
Forum whore
It is one of the foremost duties of every honest subject of Her Majesty to resist, on all possible occasions, whatsoever is proposed by Her Majesty's ministers, whomsoever they may be. Such resistance is the duty which we all owe to generations yet unborn.
Psyclepath
Because Socialism is all about control, and it's easiest to make the argument if you use the extreme case.
Only a homo puts an engine back together WITHOUT making it go faster.
Wearing Hi-Viz Black.
Wage rates going up by 15% per annum. Also, labour laws are starting to be enforced. A lot of companies are looking at alternatives to the chinese option for production and Pakistan, Vietnam and India are reaping the benefit.
Unlike NZ which is expanding the benefit...
TOP QUOTE: “The problem with socialism is that sooner or later you run out of other people’s money.”
Easily wound up!!
Yes, unfettered Capitalism will always serve its own inertests ahead of those of any society. Unless its compelled to do otherwise. Presumably that is why Socilaism will always need to have some element of compulsion.
"There must be a one-to-one correspondence between left and right parentheses, with each left parenthesis to the left of its corresponding right parenthesis."
Curmudgeon
Eh?
What "sub prime mortgage crisis"?
NZ doesn't have any "sub prime" lenders by US definitions.
Grumpy Old Bastard
With reference to this, you might like to check out the documentary "China Blue" (if you can find it - was on Sky Documentary channel some months ago). The workers featured in this doco were hardly being lifted out of poverty......
Forum whore
Quite right!
I should really have said "housing bubble".
Forum whore
I would hasten to add that there is one very prolific contributor who always equates capitalism as the extreme. What I am saying is that there is a way without the extremes. The trouble is greed, power and corruption precludes that happening.
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