No real surprise here Sgt Pepper. $30M up in smoke.
Nice one ShonKey.
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Left vs Right adversorial politics....it's a bad system innit. It just pushes people into tribal camps and looking at everything from certain dogmatic viewpoints.
I don't think the flag issue is a left v right issue.
It's funny how this government started off advertising itself as fiscally responsible and now no-one cares anymore, everyone wants to keep the economy up at all costs to avoid a housing market implosion that'll take the banks with it. Prices up 45% in four years in Auckland. No ordinary Joe Public person is going to want to see all their paper gains wiped out, even more so if they just shelled out $850,000 for a house.
Deflation is here because wage and salary growth isn't here and never will be; the legions of immigrants coming in mean that there is never enough supply shortage in the labour market.
Without wage and salary growth, there's no way prices will go up anywhere except it the over-heated housing market. With mortgages now taking up so much of people's income, there's less disposable income in any case.
Now it is just an exercise in keeping GDP growth in excess of 2% by any means necessary, including massive government spending. F*ck the future.
We are now in the same situation as China. Government intervention to keep the house of cards up. Chinese government intervention there to keep GDP at 6.8% minimum, government intervention to stop the share market there collapsing.
We have the same debt trap here as in other nations. The same bubble problem. And now China is getting much tougher on capital outflow controls as well.
No cardboard box but when we visited the London flat with umpteen antipodeans per square yard a cardboard box would have offered more space and privacy.
I'd say the flag things worked, it seems people are more wont to talk about that and expend huge amounts of angst over a paltry $26 million rather than talk about the real issues facing the country. We are on the verge of deflation, we are borrowing hand over fist, dairy prices keep tanking....I thought the economy was supposed to be going great, as evidenced by house prices in Auckland up 45% in 4 years......so we are we still borrowing billions to make up for spending being well in excess of revenue?
Why is Mr Little promising everyone 3 years of free tertiary education? Is he therefore planning to keep borrowing at the same levels (or greater)?