Her influence is obviously very far reaching :t_up:
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Rapid asset inflation took off around the world as Reserve Banks & their equivalents e.g. Federal Reserve, reacted to forecasts of massive unemployment & economic recessions due to the Covid pandemic, & injected huge amounts of cash into their economies. This was not a NZ problem but a worldwide problem.
House buyers were thoroughly warned the market had overshot, & that it would pull back.
There were almost daily warnings in the media from various economists, even the Reserve Bank tightened Bank's Capital requirements to protect & strengthen the banking system from what it was warning was an over exuberant market. ( remember banks like John Key's ANZ fought hard against this through lobbyists in the media seeing these tighter ratios would dampen their extraordinary profits, pretty disgraceful ).
So anyone who bought a house in the last 18 months clearly, definitely, unequivocally, knew prices were going to drop in the short term.
Sometimes you just can't protect people from themselves, but you can protect the banking system.
While the monetary stimulus contributed to house price inflation, the other things you mention have been anti inflationary.
Lower interest rates were a huge driver of house price inflation. Higher interest rates have the effect of taking heat out of the market.
Controls over rental property have taken many investors out of the market & for the first time, the numbers of home owners has overtaken the number of investors in the market.
Again buyers access to capital or the LVR's which the Reserve Bank has imposed on banks, have removed many of the highly speculative buyers who pushed prices up.
‘Affordable housing for all via Kiwibuild’.
‘Homeless living in cars is a disgrace and an indictment on NZ.’
Ardern spinning and she spun herself out of the honesty, truth and transparency orbit.
Only 300% increase in the car dwelling homeless population since she took office.
Only 200% increase in state housing wait list since she uttered the promises on housing.
$1 billion spent on emergency housing to date - nothing to show but she made millionaires out of motel & emergency accommodation providers. 😂😂😂
Why not ? .. were they too smart to not want a bar of her .. or did they look past her to see the shambles in motion by the Govt of hijacked spinning puppets here in NZ recognising that she's on a one way road out to oblivion, likely to never be seen again after the UN recognise something of a lesser calibre to what they have already rid themselves of comes rocking up to the door ? ;)
Perhaps New South Zealand sounded too close to something else in Africa that they had already seen ? :)
That is a lot sillier than anything I have seen you post before.
Ardern was being blamed for extreme volatility in the price of housing, and PNZ asked why other countries where she was not PM were experiencing the same phenomenon.
You used that question as a rhetorical springboard for a completely irrelevant and irrational deflection about why Ardern isn't PM of some other country. Silly - a waste of everyone's time.
An excellent summary of the week that was for Ardern & her team of nincompoops :
https://www.rnz.co.nz/national/progr...tal-generosity
Excerpts :
-------------------------
"The prospect of non-residents getting money from our government was met with rising anger among our cohort of media commentators.Over at Today FM, Rachel Smalley argued the payments showed Labour is unfit to lead.
"This could be the defining moment in Labour's leadership. It should be," she said. "It is inept. It is irresponsible. It's chaotic. It is economically and fiscally reckless."
Shortly after, her fellow host Tova O'Brien said it was "emblematic of the government's achilles heel" and told National's leader Christopher Luxon he might have already won the 2023 election because of it."
-----------------------
On last Sunday’s episode of Q&A, host Jack Tame grilled prime minister Jacinda Ardern over the government’s record on child poverty, which children’s charity Kidscan says is worse than ever.
"You'll still hear me talk about New Zealand as a place that should be free of child poverty, because anything less demonstrates that we don't believe that things can and do need to improve," said Ardern.
"Absolutely An A for aspiration, an E for execution," retorted Tame.
https://images.squarespace-cdn.com/c...pg?format=500w
Ian Foster must have been taking spin lessons from Ardern?
https://www.stuff.co.nz/sport/rugby/...acks-outplayed
“All Blacks fans, you may need to take a deep breath here. Under-pressure coach Ian Foster has described Sunday's 26-10 defeat to the Springboks as his team’s “most improved” of the year and felt they “went up several cogs” and “shifted our game forward”.
Apologies if this reference has been posted previously but this clip from a relative outsiders perspective is well worth a look.
The speaker Dr Oliver Hartwich speaks a lot of sense about our current political situation. It is a shame we do not get more political opinion like this but due to our disfunctional media its is not surprising.
It must be becoming very apparent internationally that we are under extremely incompetent management.
https://www.youtube.com/results?sear...ern+expirement
but confession time is in 2023 and he said he doesn't drink that sort of cheap crap :)
there might have to be a special secure wing built upstairs to accommodate Arderns
huddle of spinning misfits for their accumulated sins against the best interests all Kiwi's
Are the glasses on upside down ? ;)
N ot half as silly as something else may be looking after 2023 :)
Oh hang on .. there's a huddle of very curious silliness already @ the Beehive
doing their darnedness to look even more silly and irrelevant, ignoring everyone
outside their closed Beehive Office doors :)
Ardern & her incompetent ministers into the blame game (as usual) - nothing is ever their fault. It's always someone else at fault even when it is crystal clear it is thry who stuffed up big time.
On the cost of living payment being paid to overseas people who are not entitled, here's David Parker trying to shift the blame :
"On Today FM, O’Brien was aghast as revenue minister David Parker accused an ineligible Frenchman who’d been offered the payment of criminal misdeeds.
"For him to get the payment, he would have to be acting fraudulently," he said.
"You're putting this on him?" exclaimed O'Brien, incredulously."
https://images.squarespace-cdn.com/c...pg?format=500w
RNZ’s Nine to Noon BusinessDesk founder Pattrick Smellie argued the criticism is likely to stick even if the figures involved aren't massive, mainly because it was the type of story that voters can understand.
"If you say we're giving $350 to goodness knows how many people overseas - and that's the biggest problem for the government, that the IRD doesn't know the answer to that question - inevitably that's political poison.
It just doesn't matter whether it's 20 people or 25,000. It's easy to understand. It makes you wonder what these clowns are up to - that sort of thing."
https://images.squarespace-cdn.com/c...pg?format=500w
Talk about the cost of living-
Then criticise a solution to the cost of living.
This payment alone is worth twice what National's tax cuts were for the median earner (ie more than 50 cents per day)
He is parroting Ardern and Robertson.
The same Ardern who promised 'most transparent government ever' and 'eradication of child poverty'. :t_up:
https://images.squarespace-cdn.com/c...pg?format=500w
the same cost of living that Labour have directly & indirectly managed to blow sky high ? :)
what happens for all the months not covered by the $350 as things rise further ?
Too hard or hasn't Robbo considered that a one off is more like a bribe and not a fix
for the continuing issue that Labour have orchestrated and thrown on all Kiwis ? :)
A $350 one off must really look like some mickey mouse Labour solution to everyone out there :)
My bet is Jacinda will bail before the election. Her history for not fronting when the going gets tough is in her DNA. She now knows she has no chance next year and will disappear prior leaving Robo or some other mug to carry the can.
The latest poll will prompt her to speed up her bail out plans to the UN.
https://www.nzherald.co.nz/nz/politi...2EIMO43STQVP4/
Her days of spinning and conning NZers are coming to an end.
Sorry- pessimistic!
I'm not so sure, we know she doesn't like being a loser and thrives on her popularity, but is also aware of her positive populism effect on Labours chances. Must be an awful conundrum for her to reconcile, like do I leave and appear to be abandoning the Labour party to avoid being a loser because they almost certainly will lose without her, or do I stay and risk Labour losing the election and personally being a loser because of it and stuck with them as the leader. Tough choice.
She'll be gone before next election, leaving the impression to overseas observers that her resignation caused Labour's collapse. Be a sensible move; far better for her future than losing an election by a large margin which is inevitable.
'While youi're ahead --- stay ahead'
Why would she want to join a failing organisation, if she is apparently focused on success?
She has stitched together deals with amazon and microsoft so could join them in a communications role (which her degree is in too).
Zero Covid has cost New Zealand dearly
Jacinda Ardern was never the pandemic heroine she was made out to be.
Ultimately, New Zealand’s Zero Covid strategy was immoral, incoherent and a grand failure.
https://www.spiked-online.com/2022/0...2-d98b137d43b3
You're promoting the web site of an extreme right wing organisation.
There's also a popular article titled "The scapegoating of Alex Jones" .
This is the extremist who told his audience the deadly shooting of all those children at Sandy Hook School was a fabrication made up to push back on gun rights for Americans.
The article is nonsense, its a heavily curated conspiracy skewering of the facts to suit an extreme Right wing narrative.
Jay Bhattacharya MD, PhD, is an epidemiologist, health economist, and professor at Stanford University School of Medicine.
He is writing as a professor and perfectly entitled to - reasoning is sound and conclusion is damning of Ardern's Zero COVID strategy.
The world (except China & NZ & North Korea) have moved into the post pandemic world while NZ is still stuck - with the highest per capita deaths now (ignored by Ardern & MSM).
The website is not an extreme ring wing organisation as you assert - it is a forum to promote views which MSM will not publish.
"Spiked (also written as sp!ked) is a British Internet magazine focusing on politics, culture and society. The magazine was founded in 2001 with the same editor and many of the same contributors as Living Marxism, which had closed in 2000 after losing a case for libel brought by ITN.[1][2]
There is general agreement that Spiked is libertarian, with the majority of specialist academic sources identifying it as right-libertarian, and some non-specialist sources identifying it as left-libertarian.[3][4][5][6][7][8] Activists associated with Spiked, sometimes described as part of "the Spiked network", took part in the Brexit Party as candidates or publicists,[9][10] while disagreeing with Nigel Farage on many domestic issues."
Australia is in summer?
National says that a short-term injection of money (cost of living payment) into the economy is inflationary (which it is but short term) but their tax cuts for the wealthy isn't.
Who's in lala land?
It seems that National still have that faulty calculator that Goldsmith was using - or more likely they just don't understand economics.
We could always have a new youth policy - one that does what is already being done under Labour.
Consistently consistent - greater mask mandates required due to Ardern’s failed zero COVID strategy & policies.
The silence from Ardern over the number of COVID deaths is deafening. Crocodile tears she shed a’plenty in 2020 over 1 death, remember?
Keep up with the flow.
NZ has been one of the safest places in the world during the pandemic.
Latest deaths per million of population as at 9 August. There are 140 countries with higher death rates.
e.g. here's a sample, Deaths per million of population
USA 3,068
UK. 2,753
Spain. 2,339
Bermuda 2,305
France. 2,266
Sweden. 1,856
Canada. 1,131
Australia. 479
NZ 329
https://en.wikipedia.org/wiki/COVID-...tes_by_country
I don't actually think that's true but even if we do right at this moment for a variety of reasons, NZ barely makes a dent in the latest up to date ( i.e. yesterday) cumulative totals of Deaths per million of population of other countries around the world.
NZ 329 versus UK 2,753 or US 3,068.
And you get these Right wing US or UK plonkers criticising NZ's response to the pandemic.
We are 140th in the world & many of these other countries have had waves of Covid sweep through their populations several times, killing hundreds of thousands, wiping out those with a weakened immune system.
We avoided the more deadly Delta strain, plus we were able to protect our population until effective new anti-virals like Paxlovid were invented & tested, and are now available.
Not sure if this has been posted before, but it makes interesting listening re the Adern Govt.
https://www.youtube.com/watch?v=koI9hfY2xK4
Wasn't sure how to inbed it properly.
I can't believe how bad things have gotten here in only a few short years, sad for such a once great country.
National proposed tax cuts for the wealthy as a help for the 'squeezed middle' but you suggest that it is only saved.
Seems like a waste of $1.7billion to me.
Only you and National would think that giving more money to the wealthy ($100+ per week to them and a few $ a week to the target) would solve the cost of living crisis.
I think you and National need to go back and take economics 101 again.
Labour’s attack of the tax cuts is that it favours only the rich, right?
The rich are not going to spend the money they get back from getting less of their incomes taxed on extra consumption - they already consume enough and they can only eat, drink and consume so much.
It is a fact that they will save or invest the money - all good for productivity.
Ronald Reagan did exactly that and the US went on to enjoy huge growth while getting inflation under control.
Which part of the above do you not get?
I don't think that is it solely.
More that it does little for their targeted 'squeezed middle' (it does favour the wealthy) and it isn't targeted.
National brought out the idea to help the 'squeezed middle' weather the 'cost of living crisis'.
They also attacked the cost of living payments as being inflationary.
If people just save the money how does that help their target?
If it does help the target then it must be more inflationary than a short-term payment.
Which part of this do you not get?
Back to Economics 101 for you (and National).
That's not what I'm seeing B.
Wealthy friends have been throwing their money at luxury overseas holidays in Europe, (thinking nothing of spending $16,000 on Business class to Europe when the same fare would have cost around $8,000 pre Covid,), getting the very latest luxury vehicles ( the owner of a large car dealership network. told me they have never sold so many luxury vehicles, they are breaking all sales records), upgrading the $1.5 million Bach to the $3 or $4 million waterfront Bach, & adding another property to the family trust, just in case little Johnny who's only been getting very average grades, needs a hand several rungs up the ladder when he leaves school.
Apart from jobs for a handful of car salesmen, a handful of Real Estate persons, & a tiny amount of commissions for a few Travel Agents, all this money is going overseas.
The idea that giving the wealthy another $180,000 to $200,000 to spend is going to go into productive investment for the NZ economy just doesn't stack up IMHO from what I'm seeing.
Maybe you see it differently but that's definitely the picture we're seeing.
Labour & their supporters as well as the media should be very careful with their ruthless current attacks on a single school and a single individual. People living in glass houses shouldn't throw stones.
https://www.nzherald.co.nz/nz/opinio...ZMWMECMKTJR2I/
That’s the rear view mirror.
NZers had been on a spending spree due to the tens of billions of dollars pumped into the economy by this government, the record low interest rates as well as the perceived huge increases in property values.
That’s where the flash cars and property purchases/ upgrades had been coming from.
We know what is now happening with the property sector.
Talk to any car dealers out there and they will tell you that car sales have slowed significantly in the last 3 months. Stocks are building up again out there. For popular models like Toyota & Tesla, there are still waiting lists but not like before.
People have not been able to travel for over 2 years - is it any surprise that they are splashing out? Are they doing it with borrowed money or from savings? I think the answer is very clear.
So tax reductions (back to where they were before Ardern & Robertson decided to reimpose the envy tax) for the wealthy (as defined & articulated by Labour) will not result in the wealthy spending more - they are already spending what they easily can already afford and saving the rest of their income or investing it.
I heard on Radio N Z 7-00 news tonight that a newly elected Labour member who was elected into the Labour govt in 2020 has raised the issue about him being bullied by certain members of the current govt, apparently he was told to not complain / pull his head in or he will go no where with his career with the Labour govt.
He has complained to two Govt departments one of which is the Prime ministers but told not to make waves.
If this is true I wonder if the N Z lefty reporters/press ( gutter press ) will make an issue of it or will they try to deflect this news and continue their attack on Sam Uff ?
Is Gaurav Sharma the only honest labour politician? Going to be real interesting to watch the left devour him.
From the most transparent government ever - as promised by Ardern, the COVID Queen who shed so many tears over every single death when reported in 2020:
(Posting by Snoopy)
August 11th: Another day where the official news release does not report the number of people who have died. To make it extra difficult for reporters, there is no link in the NZ Health Department News Release where you can find the deaths information. At least I know where the link is, so I can report the 24 'with Covid-19' deaths here.
https://www.rnz.co.nz/news/national/...spitalisations
"Of the 24 reported dead, one was in their 60s, one was in their 70s, 13 were in their 80s and nine were aged over 90. Of these people, 16 were women and eight were men."
https://images.squarespace-cdn.com/c...pg?format=500w
He has been complaining to Ardern for 1.5 years and she has been sweeping it under the carpet. Not good optics for the spin mistress - she is just such a caring and care person as well as transparent & accountable - NOT!
And the left has already started attacking him but he has fired back :
https://www.nzherald.co.nz/nz/parlia...B3HFFMKCVQZTY/
“Sharma posted his reply, in which he accused Fenton of being "the reason bullying is still a problem", and said she was victimising him.
"Seems like you are still on the party payroll?" Sharma replied.”
“Sharma then rebuffed Fenton's criticism of not using appropriate channels to raise concerns, saying he had "made multiple complaints including to the PMO [Prime Minister's Office] over the last 1.5 years and nothing has been done".
https://images.squarespace-cdn.com/c...pg?format=500w
In great news for the cost of living, petrol prices have fallen to $2.40/L.
Below what it was under the previous govt.
It is quite ironic that The NZ Labour Party is overseeing a shift of control to Iwi from the democratically elected representatives of the people. Labour Parties around the Commonwealth were founded to give voice to ordinary people and workers vis à vis the inherited gentry, Landowners and the owners of capital. Now The NZ labour is trying to shift the balance of power back to inherited vested interest and landowners (Iwi).
Wait for the Ardern spin - get your popcorn ready.
1.5 years of bullying complaints and her office has done nothing!
https://www.nzherald.co.nz/nz/parlia...R5DFHI74SXMSY/
"Dr Sharma is a very brave man to take a swing at both the Prime Minister and the Deputy Prime Minister, they're extraordinary allegations for the Labour Party to answer,"
“Since writing the column Sharma has refused to comment further except only to mention: "I am not the bully".
When asked who the bully or bullies were, Sharma said: "We'll find out."
if they can be believed, just like the unemployment situation 3.2 % ie 93,000 people but the job seeker benefit has 105,000 people in it, tell me is a person on a job seeker benefit employed or not, yes or no, if they are not in that statist then the unemployment % is 7% +, from the most honest transparent govt ever , yeh right.
My niece is on a job seekers benefit and her supervisor has just given her another year on it, she is 31 years old and does not have to go for any job interviews during that period !!
Very sad to read about the constant bullying of a Labour MP by people within his own party. What is the world coming to when this sort of thing is happening. Bullying even coming from the PM’s office, which is totally unacceptable. Will Ardern now resign, or instead just brazen it out and hope this blows over?