That’s what’s become of the left. A twisted shadow of its self. Long since abandoned the worker for identity politics and weak neoliberalism.
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Politics 🗳️ NZ Politics
- Thread starter wizard of Tauranga
- Start date
Tragic
Contributor
Well any infrastructure spending is borrowed when you are running a deficit but do you think they can get to sustainable growth without infrastructure spend?
Luxon must think so but I am skeptical.
Worried2Death
Contributor
But if he's right about these shady Neolib think tanks secretly plotting against us and astroturf groups infiltrating our governments, we won’t know about it because they're a secret, like any effective conspiracy. What if it's all true?
Worried2Death
Contributor
Just pretend everything's fine until it's too late, it's always worked for me
Rick O’Shay
Contributor
Semi auto weapons weren't banned. I have a legal one for pest eradication.
Check cartridge use.
Interesting inflation (CPI) figures for the last quarter released today.
NZ's CPI has dropped down to 3.3% over the last twelve months but is still outside of the RBNZ's band of 1-3% PA so they still won't drop the OCR down below the current 5.5%. Most economists are predicting that Orr won't allow a decrease in the OCR until November or February of next year. The average three-year fixed loan in NZ from the four major banks (Westpac, ASB [owned by Commonwealth bank in Aus], BNZ [owned by NAB in Aus] and ANZ) is currently 6.8%.
By comparison, the latest Australian CPI has their inflation rate at 3.6% and is also outside of their Reverse Banks band of 1-3% YET they have dropped their OCR down to 4.35%. In Australia, their average three-year fixed loan rate for the same four banks is currently 6.5%.
We are paying more interest in NZ even though we have lower inflation thanks to Orr's refusal to look at the downwards trend in inflation. The peak of inflation was in the second quarter of 2022 at 7.3% yet the NZRB only increased the OCR to 1.5%. Since then, as inflation has DROPPED the RBNZ has continued to raise the OCR. The RBNZ were far too slow to raise the OCR and are now far too slow to drop it.... and the average Kiwi is suffering because of high interest rates, higher unemployment rates and a greater number of Kiwis defaulting on their mortgage repayments compared to Oz.
And while NZ is in recession, Australia's is growing.
After the GFC, the RBNZ allowed the OCR to drop as inflation dropped and the economy recovered faster. This time, as their reluctance to reduce the OCR continues, the recovery will take much longer.
NZ's CPI has dropped down to 3.3% over the last twelve months but is still outside of the RBNZ's band of 1-3% PA so they still won't drop the OCR down below the current 5.5%. Most economists are predicting that Orr won't allow a decrease in the OCR until November or February of next year. The average three-year fixed loan in NZ from the four major banks (Westpac, ASB [owned by Commonwealth bank in Aus], BNZ [owned by NAB in Aus] and ANZ) is currently 6.8%.
By comparison, the latest Australian CPI has their inflation rate at 3.6% and is also outside of their Reverse Banks band of 1-3% YET they have dropped their OCR down to 4.35%. In Australia, their average three-year fixed loan rate for the same four banks is currently 6.5%.
We are paying more interest in NZ even though we have lower inflation thanks to Orr's refusal to look at the downwards trend in inflation. The peak of inflation was in the second quarter of 2022 at 7.3% yet the NZRB only increased the OCR to 1.5%. Since then, as inflation has DROPPED the RBNZ has continued to raise the OCR. The RBNZ were far too slow to raise the OCR and are now far too slow to drop it.... and the average Kiwi is suffering because of high interest rates, higher unemployment rates and a greater number of Kiwis defaulting on their mortgage repayments compared to Oz.
And while NZ is in recession, Australia's is growing.
After the GFC, the RBNZ allowed the OCR to drop as inflation dropped and the economy recovered faster. This time, as their reluctance to reduce the OCR continues, the recovery will take much longer.
While we're at it can we grab your coaching, playing or sports science credentials for the screeds written on poor Andrew Webster and Tohu Harris?
Classic logical blunder. Its not MaybeTop8 criticism that earned that comment, its was his dispute of the fundamental theory.
Saying fuck Webby and Tohu isnt disputing the fundamentals of "coaching, playing or sports science" now does it?
Saying my eyes are telling me Tohu is past it, isnt disputing the fundamentals of "coaching, playing or sports science" now does it?
I’ll be shocked if they haven’t started to lower rates by November. Reserve Bank were already talking dovish & this print is better than their expectation of 3.6%. And all this is rearview mirror stuff. Our economy has continued to weaken since the start of that June quarter. Only blemish, and it is potentially the key one, is non-tradable inflation was 0.1% above expectations.
Nah it's not a logical blunder at all, the original quote on capitalism was incorrect and maybetop8 quite rightly called out the first line.
Saying capitalism isn't about money??? The whole point of capitalism IS PROFIT ie Money.
Calling that quote rubbish isn't disputing the actual theory of capitalism now is it?
My point, bringing up who much you've pontificated on poor Webby - we're all just dudes posting on a Warriors forum, totally unqualified (although some of us have unshakeable self belief in themselves with no off switch)
Glad you pointed that out.
Capitalism is an economic system in which private individuals or businesses own capital goods. At the same time, business owners employ workers who receive only wages; labor doesn't own the means of production but instead uses them on behalf of the owners of capital.
Capitalism is one type of system of economic production and resource distribution. Instead of planning economic decisions through centralized political methods, as with socialism or feudalism, economic planning under capitalism occurs via decentralized, competitive, and voluntary decisions.
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What Is Capitalism: Varieties, History, Pros & Cons, Socialism
Capitalism is an economic system in which monetary goods are owned by individuals or companies, and workers earn only wages.
Yeah you googled capatlism and that's one of the first links that comes up.Glad you pointed that out.
Capitalism is an economic system in which private individuals or businesses own capital goods. At the same time, business owners employ workers who receive only wages; labor doesn't own the means of production but instead uses them on behalf of the owners of capital.
Capitalism is one type of system of economic production and resource distribution. Instead of planning economic decisions through centralized political methods, as with socialism or feudalism, economic planning under capitalism occurs via decentralized, competitive, and voluntary decisions.
What Is Capitalism: Varieties, History, Pros & Cons, Socialism
Capitalism is an economic system in which monetary goods are owned by individuals or companies, and workers earn only wages.www.investopedia.com
What is the essential motive of capitalism?
and what exactly happens if it's not achieved.
And say again with a straight face capitalism is not about money.
Those who were criticising the green party and their selection process in this very forum will be interested in applying the same scrutiny to the National Party I'm sure.Stuff
www.stuff.co.nz
Sounds like an interesting character
Great work with our taxpayer money by the regressive coalition government of new zealand - not. These people are embarrassing us and setting us back decades. https://newsroom.co.nz/2024/07/17/govts-climate-plan-does-less-with-more/
Looks like it's a win all round for greater speed restrictions, especially road safety according to this study. Pity our regressive culture war driven right wing coalition wants to take us back to the dark ages.
https://www.mdpi.com/2071-1050/16/1...ion of,fatalities, and injuries, respectively.
https://www.mdpi.com/2071-1050/16/1...ion of,fatalities, and injuries, respectively.