The Govt freezes most state sector wages, cuts $926m of Covid spending plans and strangles transport projects to start reducing debt; Tight Budget stance keeps interest rates low and house prices high
"What is the political strategy behind this toxic fiscal and monetary combination?"
To keep the people down and the elite in control? This explains everything. Government's role is to maintain elite rule, and liberal or conservative, left or right, it's always the same story. While the pandemic is highlighting government's ability to fund anything it wants to, the government continues to perpetrate food insecurity, poverty, homelessness, inequality and austerity. So this situation has to be deliberate. How "kind" is that?
When will we stop believing the debt scaremongers?
The OECD, the IMF, the World Bank, the US Govt and The Australian Govt have all dropped the 'be very afraid of govt debt' rhetoric and are now focused on rebuilding the incomes, wealth and wellbeing of those left behind over the last 30 years and now suffering most during covid. They're saying this because they've worked out the austerity and public debt reduction doesn't actually work to make economies healthier or society more stable.
But New Zealand...
It's as if nothing has changed since 2007 and everyone in Treasury and RBNZ and Government has stopped reading what is coming out of these international advisers and other Governments.
Well, I remain suspicious of their motives, I can't believe they've suddenly "worked out" how to improve the people's lives. I hope it's more a case of our masters realising that people are waking up to what is being done to them and are trying to mitigate the protest. Maybe.
By the way Bernard, I hope you'll inform us of any radio or tv appearances you'll have. Always a pleasure.
Interesting. My collective LVR is less than 16% and interest costs are less than 5% of disposable income. Ironically, I should be much more highly geared to take advantage of leveraged and tax free capital gains.
"What is the political strategy behind this toxic fiscal and monetary combination?"
To keep the people down and the elite in control? This explains everything. Government's role is to maintain elite rule, and liberal or conservative, left or right, it's always the same story. While the pandemic is highlighting government's ability to fund anything it wants to, the government continues to perpetrate food insecurity, poverty, homelessness, inequality and austerity. So this situation has to be deliberate. How "kind" is that?
When will we stop believing the debt scaremongers?
The OECD, the IMF, the World Bank, the US Govt and The Australian Govt have all dropped the 'be very afraid of govt debt' rhetoric and are now focused on rebuilding the incomes, wealth and wellbeing of those left behind over the last 30 years and now suffering most during covid. They're saying this because they've worked out the austerity and public debt reduction doesn't actually work to make economies healthier or society more stable.
But New Zealand...
It's as if nothing has changed since 2007 and everyone in Treasury and RBNZ and Government has stopped reading what is coming out of these international advisers and other Governments.
We remain stuck in a pre-GFC timewarp.
Well, I remain suspicious of their motives, I can't believe they've suddenly "worked out" how to improve the people's lives. I hope it's more a case of our masters realising that people are waking up to what is being done to them and are trying to mitigate the protest. Maybe.
By the way Bernard, I hope you'll inform us of any radio or tv appearances you'll have. Always a pleasure.
Many thanks Marc. Will do.
e don't remain stuck in a pre-GFC time warp. We are still in a National party PR advising NZ media with BS time warp.
I'll bet Hickey's house is permanently mortgaged and that he pays way more interest than he needs to.
Interesting. My collective LVR is less than 16% and interest costs are less than 5% of disposable income. Ironically, I should be much more highly geared to take advantage of leveraged and tax free capital gains.