Oh yes. Only NZ could (s)elect a banker as PM when bankers had just destroyed the global economy (2008). But it was worth it; NZ's everyman made sure banks (and him and his buddies) are well protected for the coming crisis period when he drove to implement banks' bail-in laws/regs. The so-called "Open Bank Resolution". Should come in handy soon.
yep "bail-in". Lovely euphemism that. the core problem as I see it is that the Reserve Bank's fixation is on maintaining the "integrity" of the banking system, which basically means jacking the system to ensure banks thrive at the expense of customers
Agree. The RBNZ is prepared to sacrifice the NZ economy as it tries to save its only product, the NZD (albeit temporarily). Neither is possible, but when you get a whole lot of neoclassical economists in a room, who all believe (among other things) in the Phillips Curve nonsense, the only move they have is obvious.
Dear John, I am sympathetic to your view of Sir John. He had much opportunity to make NZ a better and more prosperous place and left much undone. However, he did head a government which had some talent and did do some good, few could argue that Sir Bill English was not a good Minister of Finance. He led a government which understood infrastructure for example. Though disappointing remember that National obtained 44.4% of the vote in 2017, significantly more than Labour and over 6% more than the Luxon led National Party at the last election. But for the Quixotic, unprincipled and undemocratic decision of Winston Peter's NZ would never have endured Ardern. By cancelling the English government NZ lost much and gained nothing. So Key's legacy, if there is one, was a strong talented political party - unwound by Winston and Simon Bridges.
Thanks Peter. I acknowledge that the National Party has had capable and principled people in the ranks over the years. The just haven't had them as National Party leaders. Bolger, Shipley, Key, Luxon...don't seem to me to have been National's best and finest
Nailed it. Why is it that witty cynics (that’s a compliment btw) can lay out the truth so easily when the masses were too stupid to see Key for what he was? A charlatan and smug prat. Praises for surviving the GFC when all he did is import demand (mass immigration… well that’s a policy that’s working great for the Western world huh?) He let that other smug & supercilious clown Fiddleson loose on things Maori - also hasn’t worked for well for us. And as you pointed out, he didn’t achieve much at all. Very Ardern of him. Old Luxflakes is not inspiring me this far either. Thank goodness for Seymour. Shame he’s not in charge.
ps You voted Greens? Seriously??? What’s next, tea party Maori? 😉
I voted Greens once when they at least purported to have an environmental bent, unlike the current crop of misfit deranged social justice weirdo warriors. What's only dawned on me in recent years is that probably the greatest threat to NZ's ecology is not remotely economic activity, it's wrecking the economy in exactly the way the Greens dream of achieving
Oh dear, oh dear John...where have you been? We were living overseas and had never even read of this economic Tour de Force. What a man, such style and grace.
Whatever happened to the funny little country of my birth? That these people are even considered "leaders" in the loosest possible meaning of the term. Good lord, I'm really flattened by these revelations which go some way to explain the rag-tag collection of charlatans we currently have posing as parliamentarians in the land. We watched Javier Mileu of Argentina addressing and re-dressing the UN yesterday and and secretly thought NZ should align itself more closely with that country as we are now in approaching a very similar status......
imaginative and bold tax system reform seems desirable to me. Taxing income is obviously convenient but why put such disincentive on earning income? Why not make income up to some level tax-free and increase GST? A national rates on land over prescribed values? a big proportion of tax is currently just wasted, but in the end we need to generate tax revenue somehow
Oh yes. Only NZ could (s)elect a banker as PM when bankers had just destroyed the global economy (2008). But it was worth it; NZ's everyman made sure banks (and him and his buddies) are well protected for the coming crisis period when he drove to implement banks' bail-in laws/regs. The so-called "Open Bank Resolution". Should come in handy soon.
Nice reminder of this creep's creepiness. Thanks.
https://www.interest.co.nz/bonds/64411/if-bank-failed-and-open-bank-resolution-policy-was-implemented-how-would-it-affect-bank
yep "bail-in". Lovely euphemism that. the core problem as I see it is that the Reserve Bank's fixation is on maintaining the "integrity" of the banking system, which basically means jacking the system to ensure banks thrive at the expense of customers
Agree. The RBNZ is prepared to sacrifice the NZ economy as it tries to save its only product, the NZD (albeit temporarily). Neither is possible, but when you get a whole lot of neoclassical economists in a room, who all believe (among other things) in the Phillips Curve nonsense, the only move they have is obvious.
McLean, your cutting prose is braver and more lucid with every post. Enjoyed this one particularly.
Why Thaynk Ya, Greenlaynder
Dear John, I am sympathetic to your view of Sir John. He had much opportunity to make NZ a better and more prosperous place and left much undone. However, he did head a government which had some talent and did do some good, few could argue that Sir Bill English was not a good Minister of Finance. He led a government which understood infrastructure for example. Though disappointing remember that National obtained 44.4% of the vote in 2017, significantly more than Labour and over 6% more than the Luxon led National Party at the last election. But for the Quixotic, unprincipled and undemocratic decision of Winston Peter's NZ would never have endured Ardern. By cancelling the English government NZ lost much and gained nothing. So Key's legacy, if there is one, was a strong talented political party - unwound by Winston and Simon Bridges.
Thanks Peter. I acknowledge that the National Party has had capable and principled people in the ranks over the years. The just haven't had them as National Party leaders. Bolger, Shipley, Key, Luxon...don't seem to me to have been National's best and finest
Nailed it. Why is it that witty cynics (that’s a compliment btw) can lay out the truth so easily when the masses were too stupid to see Key for what he was? A charlatan and smug prat. Praises for surviving the GFC when all he did is import demand (mass immigration… well that’s a policy that’s working great for the Western world huh?) He let that other smug & supercilious clown Fiddleson loose on things Maori - also hasn’t worked for well for us. And as you pointed out, he didn’t achieve much at all. Very Ardern of him. Old Luxflakes is not inspiring me this far either. Thank goodness for Seymour. Shame he’s not in charge.
ps You voted Greens? Seriously??? What’s next, tea party Maori? 😉
I voted Greens once when they at least purported to have an environmental bent, unlike the current crop of misfit deranged social justice weirdo warriors. What's only dawned on me in recent years is that probably the greatest threat to NZ's ecology is not remotely economic activity, it's wrecking the economy in exactly the way the Greens dream of achieving
Yep......fingers crossed on David Seymour here too. Just about our only hope.
Oh dear, oh dear John...where have you been? We were living overseas and had never even read of this economic Tour de Force. What a man, such style and grace.
Whatever happened to the funny little country of my birth? That these people are even considered "leaders" in the loosest possible meaning of the term. Good lord, I'm really flattened by these revelations which go some way to explain the rag-tag collection of charlatans we currently have posing as parliamentarians in the land. We watched Javier Mileu of Argentina addressing and re-dressing the UN yesterday and and secretly thought NZ should align itself more closely with that country as we are now in approaching a very similar status......
imaginative and bold tax system reform seems desirable to me. Taxing income is obviously convenient but why put such disincentive on earning income? Why not make income up to some level tax-free and increase GST? A national rates on land over prescribed values? a big proportion of tax is currently just wasted, but in the end we need to generate tax revenue somehow
How about the Early Settlers pay their share of tax, that’d help. No more Iwi Charity Status.