Labour govt 2020-23

[Panda-NZ-]

The alternative could be No Business ; therefore No Staff & No jobs - sound fair ?

Given that women are disproportiontely minimum wage earners.

It is effectively taking food away from a child to waste on a poorly run business.

[Bjauck]

I am actually looking forward to the election next year as I suspect the economy will be in a bad state by then.
It should be the nail in the coffin for Labour.
And you cindy fans here needn't bother suggesting there is no credible opposition.
We will be in such do do come next year a team of budgies could outshine this lot

There are plenty of cockatoos in parliament. Luxon will provide better opposition than the previous National galahs!

Labour seems happy to keep the current regressive tax system; no threat of a general CGT. So National will still need to up its game a bit more?

[Logen Ninefingers]

This forum said property prices would collapse due to corona. So not a good place for predictions.

This forum said property prices would collapse due to corona. So not a good place for predictions.

The prediction from Treasury in 2020 was that prices could fall 7% to 10% IIRC.

And then we saw the response from the central bank: Quantatative Easing and interest rates slashed, which prompted a buying frenzy such as we have never seen before.

If I 'predict' or advise the owners that a house will fall down due to rotten foundations unless something is done, and then they have the foundations repaired, was my initial advice (or 'prediction') incorrect?

Here's what I know about the current situation: inflation is running at 5.9% and you can't fix that problem by throwing money at it or by slashing interest rates. It is loose monetary and fiscal policy that has in part caused this situation.

It amazes me that you can write a thesis, yet cannot acknowledge such a fundamental change in the economic landscape & join the dots as to the consequences.

While on the subject of predictions, hands up all the 'property experts' who foresaw that inflation would now be running hot and that borrowing costs would now start to increase. From all the stuff I've looked at, the 'property experts' who were spruiking the market were telling everyone that 'very low borrowing costs' were practically here to stay. They got it wrong, didn't they.

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Many households could see their mortgage interest rates double when they re-fix their mortgages, according to property data company CoreLogic.

CoreLogic's chief property economist Kelvin Davidson has warned that household debt is relatively high to income.

"To some extent the debt has only been sustainable recently because of low mortgage rates," he said.

"However, OCR increases and rising home loan interest rates mean households are going to have to adjust their finances fairly quickly to ensure they stay on an even keel, with the lending environment changing for everyone.

"All borrowers are having to face up to the reality of significant mortgage rate increases, with a further rate hike expected to be announced in February's review.

"While any further rate increases could be smaller and slower than those experienced in the second half of 2021, we can't overlook the fact that about 60% of existing loans need to be refinanced in the next 12 months.

"Anybody who fixed for a year in about April/May 2021 could potentially see their mortgage rate double when they review mid-this year, which could have a significant impact on household budgets," he warned.

[Panda-NZ-]

Labour seems happy to keep the current regressive tax system; no threat of a general CGT. So National will still need to up its game a bit more?

Some actually want to cut things like company tax.

As the younger generation come to the fore the developed world will start to have better ideas. So only need to wait.

[Logen Ninefingers]

Some actually want to cut things like company tax.

As the younger generation come to the fore the developed world will start to have better ideas. So only need to wait.

"How do we fight this inflation crisis, petrol is now $6 a litre!"

"More diversity, windmills, Twitter, Tik Tok vids, and btw check your privilege"

I think young people are going to find that a lot of things that have been focussed on since the dawn of the century have been an absolute luxury and definitely 'first world problems'.
They haven't lived through an era of high inflation, or an oil shock, they have only known economic stability and plenty, and having trendy left wing views has been a feel-good exercise in virtue signalling.
We were told there was 'no such thing as a free lunch'. We've got used to a free lunch. We've got used to getting wealthy from inertia, as asset prices go up while we go and play golf or discuss property prices with the neighbours.
Whatever economic system you live under, as long as we have nation states and ethnic, cultural, and religious differences there will be a struggle for scarce resources. You have to pay your way in this world, bottom line. You can live in a socialist country by all means, but your standard of living won't be very high. People can decry 'trickle down', but there is the kind of poverty where you live in a state house, & then there is the kind of poverty where you live in a tin shack.
Western nations have been keeping the upper hand in the battle for resources by putting their living standards on the big credit card. Now the bill is coming due. We will find out again that there is no such thing as a free lunch.
The idea that the young people of all nations will come together, sing kumbaya, and magically come up with a source of clean and green energy that will power 7.5 Billion people is so fanciful that it doesn't bear serious consideration. People will not give up their living standards easily, and the least likely to give them up will be a generation who only know technological wonders and good times.

[Panda-NZ-]

"How do we fight this inflation crisis, petrol is now $6 a litre!"

"More diversity, windmills, Twitter, Tik Tok vids, and btw check your privilege"

I think young people are going to find that a lot of things that have been focussed on since the dawn of the century have been an absolute luxury and definitely 'first world problems'.
They haven't lived through an era of high inflation, or an oil shock, they have only known economic stability and plenty, and having trendy left wing views has been a feel-good exercise in virtue signalling.
We were told there was 'no such thing as a free lunch'. We've got used to a free lunch. We've got used to getting wealthy from inertia, as asset prices go up while we go and play golf or discuss property prices with the neighbours.
Whatever economic system you live under, as long as we have nation states and ethnic, cultural, and religious differences there will be a struggle for scarce resources. You have to pay your way in this world, bottom line. You can live in a socialist country by all means, but your standard of living won't be very high. People can decry 'trickle down', but there is the kind of poverty where you live in a state house, & then there is the kind of poverty where you live in a tin shack.

It's the opposite actually. They're nearly having it as bad as the greatest generation though without the war obviously.

https://en.wikipedia.org/wiki/Millennials

[Logen Ninefingers]

It's the opposite actually. They're nearly having it as bad as the greatest generation, though without the war obviously.

https://en.wikipedia.org/wiki/Millennials

Pretty blithe response there. That's a wiki page about Millenials, not a serious rebuttal.

[Panda-NZ-]

One can try actually reading what's in it. It's not difficult.

[Balance]

One can try actually reading what's in it. It's not difficult.

What about your fiction & lie that Luxon paid no tax?

[Panda-NZ-]

"How do we fight this inflation crisis, petrol is now $6 a litre!"

Raising incomes?

The median wage in NZ is 27 bucks.