Buffoon Muldoon - What A Contrast To Reagan

[mikescott]

This be for all who be liking big government, welfare payments, subsidies, government regulations, tyranny, socialism and communism.


Colin James: Anniversary of a great divide in this nation's history

08.06.2004
COMMENT
Next Monday will be the 20th anniversary of the night Sir Robert Muldoon called the snap election which changed this country. His slurring words that night spelt the end of his Government and an era.

To view Muldoon now is to peer across one of the great divides in this country's history, a gulf between the last British generation and the first truly local one.

The world in which Muldoon grew up in was one of uncertainty: a father disabled by one war, an economic depression and a second war in which Muldoon fought. The world that bade him goodbye was one of confidence and indulgence.

It was to his generation's pursuit of the certainty and security lacking in its youth that Muldoon faithfully geared his policies as Finance Minister for 14 years from 1967 and Prime Minister from 1975.

Those policies were his strength and his undoing. "We felt safe with you," a devotee wrote to him after he was felled from the leadership late in 1984. But he made an unsafe economy.

The export mainstay, agriculture, was made uneconomic by vast subsidies to compensate farmers for wages kept artificially high and jobs kept in uncompetitive industries swaddled in protection from imports. Yet unemployment rose anyway. The exchange was fixed too high and the balance of payments was grossly out of kilter.

So was the Budget, with huge deficits which he tried to stem with tax (a 66 per cent top personal rate), then desperately borrowed to cover. The deficits fuelled inflation which he tried to banish by edict, regulating prices, wages, rents, interest rates and even directors' fees. By the time he called the election, the economy was in crisis and leaking through his controls.

In his defence, Muldoon could point to a one-third plunge on his watch in the terms of trade - export prices against import prices. There were two savage oil shocks. Inflation swept the Western world and this country could not escape that whirlwind.

But instead of adjusting the economy to these shocks, Muldoon tried to shield the "ordinary bloke", his talisman, from them. That delayed the reckoning and made it worse when it came.

[mikescott]

Anyone be for not be affordable National Super, DPB, expensive badly built cars, expensive shabby clothes, lousy service at the Post Office, bloated bureaucracy? Muldoon he be make sure you get that if the midgets they have their way.

[belgarion]

quote:Originally posted by minder

This be for all who be liking big government, welfare payments, subsidies, government regulations, tyranny, socialism and communism.

You mean like the US Republican Party?

(And before you get all hot and bothered and make a fool out of yourself minder, I suggest you check out which of the US political parties leaves the biggest footprint on the US economy before they get booted out. The only one of the 7 above they never increase is welfare payments ... they do increase 'tyranny, socialism and communism' but usually in other countries although one could agrue tyranny increases at home ... Like taking candy from a baby!)

[whatsup]

Ah Belg--- I wondered when you would raise your ugly head you Liberal/socialist/left wing lyer you!!!! Never forget "The left is a lie", how about some constructive comment on Rocky Reagan ?

[belgarion]

quote:Originally posted by whatsup

Ah Belg--- I wondered when you would raise your ugly head you Liberal/socialist/left wing lyer you!!!! Never forget "The left is a lie", how about some constructive comment on Rocky Reagan ?

wahtsup, you loser, what say you maggot infested road-kill wise up and start presenting some facts?

If I want propaganda, I need only only switch on Fox News; for polluted comment, seems that reading sharetrader's comments, is just about as 'fair and unbiased'.

Me? ... Just about given up trying to educate to obnoxious, smelly little plebiens like ... Shucks, the list is so long ... But then they are probably the same poster ... If not, then the world needs to start looking at increasing the intellectural gene pool by culling out some of the putrescence that is affecting reasoned thought.

[Risk]

It always makes me laugh when I see the loony right trying to rewrite history...
calling Muldoon a socialist or communist is so absurd it must be making him turn on his grave.
I suppose you also think Hitler was a socialist!
ha ha ha
thanks for the laughs :-)

[mikescott]

Good.

[mikescott]

Look at what's be crawling from under the rock?

[mikescott]

Especially this for those who be needing reminding of the greatness of Muldoon's his socialist economic buffoonerism :

Sir Robert
Muldoon picked the meat industry as his winner for the 1970s. At the state finance
supermarket you could pick up livestock incentive schemes, price stabilisation
payments, SMPs, fertiliser subsidies and unbelievable tax breaks. Sheep numbers
rose from 55 million in 1976 to 70 million by 1985. When the market collapsed, tens
of thousands of tonnes of sheepmeat were subsequently rendered down into blood
and bone. The total cost of the support for the meat industry in the 1980-86 period
was $3.3 billion. Who wants to repeat this exercise? Certainly not the farmers who
saw their interest rates soar when farm values slumped.
The manufacturing sector was picked as a winner by the first Labour government in
the late 1930s and was cosseted right through to the mid-1980s. The net result was
an uncompetitive manufacturing sector that tried to make everything and imposed
enormous costs on our internationally competing industries. The pain of withdrawal
from these foolish policies may be great - but going back would be much worse. It
would undermine those industries that offer our best hope for the future.
The 'Think Big' projects of the early 1980s, together with producer board debt, have
left the taxpayer with a bill of $8.2 billion. Who is prepared to stand up today and
urge the government to borrow another $8 billion to invest in such ventures?

[mikescott]

The haters deadbeats, nobodies and complete failures be like Enigma, Marcer, Belgarion, Aspex and Risk - would you like to know who be the economic genius who be introducing the DPB to NZ?

In this case, not genius but buffoon?

[Placebo]

How much will it cost to add the necessary capacity to our electricity generation... $8b? More?

Muldoon was little more than a product of his times. Picking winners and protectionism were the way of the world in the 60s and 70s. Some countries (mostly in the EU and notably France) still do it. The US too.

Think Big produced long-term benefits e.g. Clyde Dam and Marsden Pt. The man was a visionary. [:o)]

[mikescott]

Great visionary indeed! Think Big? Think write-offs : NZ Steel - $3 billion. NZ Refinery - $1.5 billion. NZ Synthetic Fuel Plant - $1.7 billion plus be paying Fletcher $246m to take plant over. Just 3 examples = $6.5 billion in 1984 dollars = $22.75 billion in today's dollars.

Well done, Mr Placebo - you be showing us what a super lousy investor and thinker you be. Here be hoping you be applying your logic to your investments - the rest of us be very grateful we be making monies from the likes of you. [^]

[clearasmud]

6.5 bill in 1984$ = no more than 13billion today

[mikescott]

quote:Originally posted by clearasmud

6.5 bill in 1984$ = no more than 13billion today

Try again and you be righter but number it be $15.73 billion - suggest you be go to RBNZ or NZ Treasury site and be compounding inflation rate on $1 from 1984 to today.

Nice big number that Muldoon Buffoon he be p issing down the drain just be on 3 Think Big projects. Add on other projects like Urea and Methanol plant, electrification of rail, Marsden Pt power stations and Clyde Dam cost over-runs and the number it be even bigger. And this all be using debt from overseas!

NZ so much be poorer country for Buffoon Muldoon. If monies be spent on good roads, hospitals, schools, universities, developing competitive industries like tourism infrastructure, R&D and above all, in New Zealanders by getting rid of poverty - NZ be much much higher standard of living now.

Next Muldoon supporter - please to be through door?

[mikescott]

When loony left he be lost argument and no can come out with answer, he be sulk. And I be sure that Buffoon Muldoon he be appreciate Aspex compliment much. Birds of a feather they be flying together? [^]