Politics 🗳️ NZ Politics

[wizard of Tauranga]

Terrible GDP data today. 3 out of the last 4 quarters negative, when the rest of the world has already bounced back post covid.

The long tail of bad economic decisions.

Hilarious that those that are accountable for this financial debacle are daring challenge the new government on their performance after two weeks in power.

And then this: The Auditor-General has left a 'scathing' review of the previous Government's $15 billion infrastructure spend-up during Covid-19.

This report addressed the $12 billion New Zealand Upgrade Programme and $3 billion Shovel-Ready Programme designed to boost the economy and long-term infrastructure in 2020.

John Ryan says neither of these projects had any real business cases backing them.

"A lot of those projects, Ministers were advised, were not ready to be announced. Business cases were mainly out of date or only partially complete."

And now we’re getting all these botched projects… Grant Robertson should forced to resign from parliament for the damage he has done, which we’re all paying for. Incompetence.

NZ Upgrade, Shovel-Ready programmes lacked transparency and rigour - Auditor-General

John Ryan has heavily criticised the $15 billion infrastructure spend-up during the pandemic, saying it should have ensured better transparency and value for money.

www.rnz.co.nz

 

[MaybeTop8]

Terrible GDP data today. 3 out of the last 4 quarters negative, when the rest of the world has already bounced back post covid.

The long tail of bad economic decisions.

Hilarious that those that are accountable for this financial debacle are daring challenge the new government on their performance after two weeks in power.

And then this: The Auditor-General has left a 'scathing' review of the previous Government's $15 billion infrastructure spend-up during Covid-19.

This report addressed the $12 billion New Zealand Upgrade Programme and $3 billion Shovel-Ready Programme designed to boost the economy and long-term infrastructure in 2020.

John Ryan says neither of these projects had any real business cases backing them.

"A lot of those projects, Ministers were advised, were not ready to be announced. Business cases were mainly out of date or only partially complete."

And now we’re getting all these botched projects… Grant Robertson should forced to resign from parliament for the damage he has done, which we’re all paying for. Incompetence.

NZ Upgrade, Shovel-Ready programmes lacked transparency and rigour - Auditor-General

John Ryan has heavily criticised the $15 billion infrastructure spend-up during the pandemic, saying it should have ensured better transparency and value for money.

www.rnz.co.nz

Factory Warning: Any replies will be pissing in the wind

 

[wizard of Tauranga]

Factory Warning: Any replies will be pissing in the wind

You mean you’re going to try to be an apologist for Robertson stuffing up the economy, inflation, govt debt, govt deficit, current account deficit, gdp growth, multiple recession, failed infrastructure projects, etc through incompetence and repeatedly not following officials advice?

It would be pissing into the wind.

You’ve even said how bad the last govt was and it’s all coming out…

 

[PullingTeets]

Factory Warning: Any replies will be pissing in the wind

I think the bro can't use Google, although his post history come across as a "Chris Bishop" type of internet user.

 

[dean]

The difference of buying 20 years ago and today is vastly different.

For one thing house prices have gone up 300%

Herne Bay in the early 2000 you could buy houses for $400k that are now sell for $4m

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Mt Roskill or Pakaraga 3 bedrooms are well over $1m.
Trying saving a 20% deposit while paying Auckland rental prices, while paying off your student loan.

Then if your lucky enough you get to service that $800k mortgage and pay rates which is going up & insurance which is going up.

I don't think anybody struggling to get onto the property market is realistically ranting about owning a 5 bedroom house in inner city suburbs.

The early 2000s were the golden period for buying - Cheap inner city house, low deposits, low interest and an upcoming boom in prices.

You are right. The other thing happening was the same people complaining about prices being too high and being so unfair.
Nothing has changed here. The usual whingers that prefer to complain and point the finger rather than do something about their lot.
That requires hard work and sacrifice so they wont go near it.

 

[John Nick]

You are right. The other thing happening was the same people complaining about prices being too high and being so unfair.
Nothing has changed here. The usual whingers that prefer to complain and point the finger rather than do something about their lot.
That requires hard work and sacrifice so they wont go near it.

Agreed. I can remember when nobody wanted to buy or live in Ponsonby.Mt. Roskill and surrounding areas will be the next HerneBay and Ponsonby

You are right. The other thing happening was the same people complaining about prices being too high and being so unfair.
Nothing has changed here. The usual whingers that prefer to complain and point the finger rather than do something about their lot.
That requires hard work and sacrifice so they wont go near it.

You are right. The other thing happening was the same people complaining about prices being too high and being so unfair.
Nothing has changed here. The usual whingers that prefer to complain and point the finger rather than do something about their lot.
That requires hard work and sacrifice so they wont go near it.

 

[MaybeTop8]

You are right. The other thing happening was the same people complaining about prices being too high and being so unfair.
Nothing has changed here. The usual whingers that prefer to complain and point the finger rather than do something about their lot.
That requires hard work and sacrifice so they wont go near it.

Spoken like a true Landlord. Don't forget to complain about smashed avocado on toast and lattes either.

Man, so far from the reality that people have to live in.

 

[wizard of Tauranga]

Spoken like a true Landlord. Don't forget to complain about smashed avocado on toast and lattes either.

Man, so far from the reality that people have to live in.

I worry about my kids who are late teens getting a house. It’s going to be damn hard but if they prioritise hard work before having kids I expect them to be able to afford a house.

There are basic cheap houses in Tauranga for around $600k. With double incomes at a combined $150k that’s 4x income.

Achievable. And I think they could probably have some avos on toast as well!

 

[Noitall]

Terrible GDP data today. 3 out of the last 4 quarters negative, when the rest of the world has already bounced back post covid.

The long tail of bad economic decisions.

Hilarious that those that are accountable for this financial debacle are daring challenge the new government on their performance after two weeks in power.

And then this: The Auditor-General has left a 'scathing' review of the previous Government's $15 billion infrastructure spend-up during Covid-19.

This report addressed the $12 billion New Zealand Upgrade Programme and $3 billion Shovel-Ready Programme designed to boost the economy and long-term infrastructure in 2020.

John Ryan says neither of these projects had any real business cases backing them.

"A lot of those projects, Ministers were advised, were not ready to be announced. Business cases were mainly out of date or only partially complete."

And now we’re getting all these botched projects… Grant Robertson should forced to resign from parliament for the damage he has done, which we’re all paying for. Incompetence.

NZ Upgrade, Shovel-Ready programmes lacked transparency and rigour - Auditor-General

John Ryan has heavily criticised the $15 billion infrastructure spend-up during the pandemic, saying it should have ensured better transparency and value for money.

www.rnz.co.nz

Four unions demand Finance Minister Nicola Willis resign over scrapping of new ferry terminal funding

Nicola Willis says Cabinet made the right decision, and she's not going anywhere.

www.newshub.co.nz

Doesn’t sound like there’s huge confidence in the new finance minister.

 

[MrFrankWhite]

I absolutely disagree with your first paragraph. Per capita we trounce most countries for entrepreneurs!
Just read it & off the top of my head I'm thought of Xero, ian taylor, peter jackson, nz sailing...if I looked I could probably find a lot more. Plus the old saying of nz no. 8 wire problem solving is endemic lol.

sooo SaaS, who??, someone who makes movies, and a sailing club?!?…

Your Honor the defense rests.

 

[MrFrankWhite]

Not true imo.
Looking around the country and all the sole lawn mowing guys. Market stallholders. Sole shopkeepers hairdressers uber drivers and I can go on and on.
Much simpler to startup a business here than in Australia. At least it was a few years ago. Apparently there's over 350000 sole traders in NZ.

You’ve named sole operators and no companies.

Case in point, knowing the difference between a self employed tradie and a company is a big hurdle for kiwis.

 

[MrFrankWhite]

Whats stopping all those sole traders employing people? What stops them growing bigger?

Being sole traders and not actual companies for one.

 

[MrFrankWhite]

But why? Housing makes 2.5% return and you hope for 6% capital gain. Shock market might make 8-10% return. A small business can make 30% return.

It’s so easy to make heaps MORE with your own business but people don’t step up. Why do we have squillions of small businesses where people don’t ramp them up?

Hint: it’s not for financial reasons…

Lack of intelligence/ imagination. The bell curve of IQ distribution exists…

 

[MrFrankWhite]

I have been in business as a sole trader for 25 years and very seldom have I made 30%.
I also work weekends to prepare for the next week or do invoices banking etc etc.

Sole traders are employees without a boss.

 

[John Nick]

Sole traders are employees without a boss.

I am my own boss.
Also the CEO CFO and everything else.

 

[MrFrankWhite]

There is one very easy way to reduce rent and make houses more affordable without reducing the income to landlords. But the left won’t like it as it’s not punitive on landlords such as a Brightline test or capital gains tax is…. even though these costs are passed on to the tenant in higher rent.

Why can charities rent houses cheaper than anyone else? Because they don’t pay tax and aren’t subject to the Brightline test. In some cases, they also don’t pay rates to the local TA, So, forget about considering rental properties as a business so landlords don’t pay any tax on their rental properties but also can’t claim any losses on their rental properties. BUT the money which would have been paid in tax is passed on to the tenant in a form of weekly rental reductions or an 1 off annual payment.

So, if a landlord should have paid $10,400 in tax for the current financial year, they instead reduce the weekly rent by $200 or reimburse the tenant with a one off payment of $10,400.

Hahhahahaba. Fuck me. Anything for a chance to ride the gravy train huh.

Remove. Property. Speculation. It’s fucking ridiculously easy. Just Kiwis aren’t brave or smart enough.

 

[MrFrankWhite]

I am my own boss.
Also the CEO CFO and everything else.

It wasn’t a dig. Just a fact. I have been all of the above.

Your upside is limited to your physical labor and can’t be scaled through capital.

 

[wizard of Tauranga]

Your upside is limited to your physical labor and can’t be scaled through capital.

Sole trader buys a digger and scales through capital

 

[John Nick]

It wasn’t a dig. Just a fact. I have been all of the above.

Your upside is limited to your physical labor and can’t be scaled through capital.

I don't want to employ people.
I don't need anyone else.
I am not a great example as I am older and more than happy with the way things are going.
I started my business 25 years ago with a phone and pc .Not hard .

 

[MrFrankWhite]

I started my business 25 years ago with a phone and pc .Not hard .

I agree. I started a company in April with a house deposit. Already 4x the business worth.

Revenue went 2x December alone