Politics 🗳️ NZ Politics

[Worried2Death]

hahaha fuck!
@MaybeTop8 was right all along!!!

Hey he could be for all I know, wouldn't be the first time the megawealthy elites have conspired against us. Actually, when have they not?

 

[wizard of Tauranga]

Two MPs are sitting beside a pool. The Labour one asks, “Have you read Marx?” To which the National MP replied “Yes, these damn wicker chairs…”

 

[juju]

What austerity actually means and how it pays for $10 billion of tax cuts for the richest 40%

Our richest 40% should know the $10b of tax cuts they'll get & save are being paid for by making poor, sick & disabled kids & nanas poorer, sicker & homeless, not by 'cutting fat from the system'

thekaka.substack.com

Grim

 

[Mr. Brownstone]

Big jump in consumer confidence today, let’s hope that optimism is justified!

 

[MrFrankWhite]

Small correction - It did start before the last government. https://www.nzherald.co.nz/nz/govt-...ncy-housing-grows/7GEXW57TEKEE6UZISXXHKOGCUM/

But the last government did a poor job at rectifying the situation, covid accelerated that, as did the 501s, the long term effects of neoliberalism that has resulted in generational damage, huge amounts of mis and disinformation, lack of social investment from all recent governments, lack of investment in integrative and wrap around care, running the police on the smell of an oily rag etc etc.

As juju alluded to, it's a complex mix that has been underpinned by an economic system designed to enrich the already wealthy that has been in place for over 40 years.

I've got no love for Labour. I've obviously got less than no love for the current lot.

My guy. Best post to date I'd say.

 

[wizard of Tauranga]

Big jump in consumer confidence today, let’s hope that optimism is justified!

It’s going to get worse before it gets better. The lag is so long…

But good signs for next year for those businesses that make it!

 

[wizard of Tauranga]

Two MPs are sitting beside a pool. The Labour one asks, “Have you read Marx?” To which the National MP replied “Yes, these damn wicker chairs…”

Seems to have gone over everyone’s head except for my man Marv

 

[Noitall]

Seems to have god over everyone’s head except for my man Marv

You just gave your identity away Harry

 

[Worried2Death]

Two MPs are sitting beside a pool. The Labour one asks, “Have you read Marx?” To which the National MP replied “Yes, these damn wicker chairs…”

Worst dad joke in the history of the world

 

[wizard of Tauranga]

Worst dad joke in the history of the world

On Marx:

Socialists are people that have read Marx. Anti-socialists are those that understood Marx.

Quote - Ronald Reagan.

 

[Mr. Brownstone]

It’s going to get worse before it gets better. The lag is so long…

But good signs for next year for those businesses that make it!

I’ll tell you what it does do - significantly reduce the chances of a double cut to the cash rate in November, which is a bit of a bummer. However it’s a good sign for things to begin slowly turning around by earlyish 2025, and by the time the next election rolls around the economy should be humming again. Say what you like about Luxon, however the man has impeccable timing.

 

[miket12]

I’ll tell you what it does do - significantly reduce the chances of a double cut to the cash rate in November, which is a bit of a bummer. However it’s a good sign for things to begin slowly turning around by earlyish 2025, and by the time the next election rolls around the economy should be humming again. Say what you like about Luxon, however the man has impeccable timing.

Interesting piece in the Herald suggesting we could actually already be under the RBNZ’s inflationary band based on the latest retail figures which have shown that prices have gone backwards dramatically in the last few months but will take six to twelve months to show up in the CPI figures…. it even stated that we may actually have entered a deflationary period if it wasn’t for increases in power prices and rates. Again, another clear sign that the RBNZ have got in totally wrong leaving the OCR up for so long.

A “soft landing” is what central banks aim for when interest rates go up to bring inflation down without dropping in to a recession….. a “hard landing” is when interest rates go up and an economy goes into a recession…. something that’s happened three times in NZ since COVID. But, worse than a “hard landing” (and much worse to recover from) is a deflationary period during a recession as deflation retracts an economy even more leading to a more sustained and harsher period of no GDP growth.

If interest rates, both OCR and mortgage rates don’t continue to come down quickly, we could potentially be in an even worse position where the economy goes into a depression…. the last two times that happened was the early 1980’s and the Great Depression of the 1930’s.

 

[wizard of Tauranga]

People massively turning away from left media RNZ and towards right media Newstalk ZB:

GfK ratings released this week show RNZ National now has a cumulative audience of 494,500 – falling below 500,000 for the first time in at least four years. It had a cumulative audience of more than 700,000 in mid-2020.

The broadcaster has dropped 35,300 listeners between the first GfK radio ratings survey of 2024 and the second, latest survey.

In the same period, RNZ National’s commercial news competitor, Newstalk ZB, gained 10,900 listeners, for a cumulative audience of 648,900


People tiring of woke agendas (same thing happening with woke TVNZ? Or just reflects the lefties successfully removing themselves from cars with radios and onto public transport!

 

[Mr. Brownstone]

Interesting piece in the Herald suggesting we could actually already be under the RBNZ’s inflationary band based on the latest retail figures which have shown that prices have gone backwards dramatically in the last few months but will take six to twelve months to show up in the CPI figures…. it even stated that we may actually have entered a deflationary period if it wasn’t for increases in power prices and rates. Again, another clear sign that the RBNZ have got in totally wrong leaving the OCR up for so long.

A “soft landing” is what central banks aim for when interest rates go up to bring inflation down without dropping in to a recession….. a “hard landing” is when interest rates go up and an economy goes into a recession…. something that’s happened three times in NZ since COVID. But, worse than a “hard landing” (and much worse to recover from) is a deflationary period during a recession as deflation retracts an economy even more leading to a more sustained and harsher period of no GDP growth.

If interest rates, both OCR and mortgage rates don’t continue to come down quickly, we could potentially be in an even worse position where the economy goes into a depression…. the last two times that happened was the early 1980’s and the Great Depression of the 1930’s.

Yeah, still close to a certainty we get another OCR cut of 25bp in November, just that it would have been nice to get a double cut of 50bp. Consumers & businesses doing it very tough out there.

 

[Mr. Brownstone]

People massively turning away from left media RNZ and towards right media Newstalk ZB:

GfK ratings released this week show RNZ National now has a cumulative audience of 494,500 – falling below 500,000 for the first time in at least four years. It had a cumulative audience of more than 700,000 in mid-2020.

The broadcaster has dropped 35,300 listeners between the first GfK radio ratings survey of 2024 and the second, latest survey.

In the same period, RNZ National’s commercial news competitor, Newstalk ZB, gained 10,900 listeners, for a cumulative audience of 648,900


People tiring of woke agendas (same thing happening with woke TVNZ? Or just reflects the lefties successfully removing themselves from cars with radios and onto public transport!

Peak woke is in the rear view mirror.

 

[miket12]

What austerity actually means and how it pays for $10 billion of tax cuts for the richest 40%

Our richest 40% should know the $10b of tax cuts they'll get & save are being paid for by making poor, sick & disabled kids & nanas poorer, sicker & homeless, not by 'cutting fat from the system'

thekaka.substack.com

Grim

Oh dear. For a household to be included in the 40% from the IRD chart who will be getting $36 and $38 per week back without children only have to earn $1 each above the minimum wage working 40 hours per week.... hardly the richlist people.

For those who care to check my figures out, $24 per hour at 40 hours per week is $49,920 per person. Put that into the tax conversion calculator linked below and it equals a household saving of $36.82 per week.

Tax Calculator - Budget 2024 - 30 May 2024

budget.govt.nz

Then, compare that to a single person on $140,000 PA and they getting back $20 per week putting them into the lowest 40%.

Why the disparity? Because Hickey is talking about the income of single tax payers while comparing to IRD data for a household. A couple earning just above the minimum wage are not rich!!!!

Then again, Hickey says in his article that the "Household net worth, which includes homes, land, shares and deposits, rose by NZ$560 billion just over 30% to NZ$2.34 trillion in the four years since Covid." 30% over four years is an average of 7.5% PA. When Hickey sold the property he owned in Epsom for seven years, he made over 70% profit... an average of 10% PA. His net worth went up by more just on a sale of a property and not including other investments he may have had at the time.... hypocritical, I think so!!!!

 

[MrFrankWhite]

Oh dear. For a household to be included in the 40% from the IRD chart who will be getting $36 and $38 per week back without children only have to earn $1 each above the minimum wage working 40 hours per week.... hardly the richlist people.

For those who care to check my figures out, $24 per hour at 40 hours per week is $49,920 per person. Put that into the tax conversion calculator linked below and it equals a household saving of $36.82 per week.

Tax Calculator - Budget 2024 - 30 May 2024

budget.govt.nz

Then, compare that to a single person on $140,000 PA and they getting back $20 per week putting them into the lowest 40%.

Why the disparity? Because Hickey is talking about the income of single tax payers while comparing to IRD data for a household. A couple earning just above the minimum wage are not rich!!!!

Then again, Hickey says in his article that the "Household net worth, which includes homes, land, shares and deposits, rose by NZ$560 billion just over 30% to NZ$2.34 trillion in the four years since Covid." 30% over four years is an average of 7.5% PA. When Hickey sold the property he owned in Epsom for seven years, he made over 70% profit... an average of 10% PA. His net worth went up by more just on a sale of a property and not including other investments he may have had at the time.... hypocritical, I think so!!!!

Ive read a couple of Hickeys pieces on NZ power situation and hes so ideologically captured he's talking nonsense. Claims wind farms will solve the issue

 

[miket12]

Ive read a couple of Hickeys pieces on NZ power situation and hes so ideologically captured he's talking nonsense. Claims wind farms will solve the issue

Another thing in the article... he says that if NZ was ever about to not be able to pay it's debts, the "Reserve Bank can print the money to pay the interest bill." Has the man not been paying attention the last four years? NZ is in the trouble it's in now because the Reserve Bank just printed money and over stimulated the economy... causing massive increases in property values and inflating people net worth... the very thing he argues against.

But, then on one hand he says that the NZ government should borrow money for infrastructure on one hand but shouldn't borrow for roading. Ahh, roading IS part of the infrastructure.

 

[Worried2Death]

People massively turning away from left media RNZ and towards right media Newstalk ZB:

GfK ratings released this week show RNZ National now has a cumulative audience of 494,500 – falling below 500,000 for the first time in at least four years. It had a cumulative audience of more than 700,000 in mid-2020.

The broadcaster has dropped 35,300 listeners between the first GfK radio ratings survey of 2024 and the second, latest survey.

In the same period, RNZ National’s commercial news competitor, Newstalk ZB, gained 10,900 listeners, for a cumulative audience of 648,900


People tiring of woke agendas (same thing happening with woke TVNZ? Or just reflects the lefties successfully removing themselves from cars with radios and onto public transport!

Does that say zb only has 150K more listeners? Doesn't seem like an overly significant change, I thought it would be more.

 

[miket12]

Does that say zb only has 150K more listeners? Doesn't seem like an overly significant change, I thought it would be more.

Listening to Mike Hosking.... those poor people. The only time I bother with him is Friday mornings when he does the weekly round up and talks to overseas reporters.