Simplistic? Like ‘Let’s do this!’ (Let’s do what?) and ‘In it for YOU’ (in it for WHO?’) perhaps?
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Ask a first home buyer whether the "paper" gains on real estate has mattered to them.
What really f*cks me off is when central banks keep stepping in every time the "risk takers" look like losing. Instead of "risk takers" suffering any downside in NZ we have a "cost of living" crisis whereby average conservative savers in term deposits are getting their wealth stolen from them through inflation to bail out the "risk takers" and the average hard working person's life is getting tougher through the inflation tax as we are all paying to bail out the "risk takers".
And as it turns out the risk takers are doing OK as long as the asset inflation stays ahead of the cost of living crisis.
So what is wrong with being hard working, honest, successful , diligent , caring focused, generous AND rich ?
In a nutshell, the central banks extended ‘too big to fail’ to encompass global property markets, thereby co-opting a much, much larger people into their dangerous monetary game than just the cabal of banksters of the GFC.
As I touched on, central bankers and people who went ‘all in’ on property didn’t actually think there was any *risk* at all involved with the deliberate inflating of asset prices: the central banks & governments had their back, and the belief was that asset prices would never (could never be allowed to) fall. The one event that brought the whole scheme undone was the kryptonite of the system: inflation. Inflation was thought to be dead and buried, a problem in previous decades but ‘this time is different’. Then it rose from the grave and made a massive comeback, and proved that history does always repeat.
The same Middle Class that are likely to now deliver the current desperate mob of Labour Incompetents and Green Clingons a king shot of massive proportions that won't be forgotten for decades ? ;)
Bring it on .. Labour have been just begging that Greater NZ deliver up something substantial, so the Comrades
can hide in peace unseen in the bottom of the large holes & potholes around now :)