Sunday, October 30, 2011

The bribes and spending continue

National would put the estimated $5 billion to $7 billion proceeds from partial asset sales into a special fund, the Future Investment Fund

Absolutely nothing about paying debt down. The nearly $400 M a week debt millstone that is killing this country. Sell half the assets and spend it on more social engineering. What a bloody waste.

The only thing consistent with these corrupt thieving bastards that masquerade as our political class, be it from one side of wannabes offering more bribes for votes with our money, or the promise from the incumbent of some future socialised return after selling half the silver, is that you will be taxed within an inch of your life.


dondiego said...

I mention how totally rooted this (once great) country is- and the zombies don't get it.
Recession BEFORE the GFC, $300 million a week beyond its means. Has to implode soon.
Not looking forward to it.

Anonymous said...

Arguably it might have been better if Clark and Cullen had had another term, then we'd be really screwed.

It might take that for people to wake up.

Mort said...

Again PM you have it nailed.
I had my reservations about Keyster and the DDoD selling down the golden goose. Now that I have seen the planned expenditure, I have to say that I am firmly against it. In a balance between keeping the assets and paying down debt, I would opt for keeping the assets. The assets generate an ROI in excess of what NZ pays in interest, even if we get a further downgrade or 2. But with the madness that is proposed, i.e. sell off the income generation and spend the money on liabilities, WTF!
The money should be used solely for improving NZ's productivity. Public hospitals in NZ are becoming Cancer, chronic non curable diseases and Trauma treatment centres only. How productive do the patients become once they have had their treatment?
Schools... look at the story in the US. In the last 60 years standards have not improved and yet the budget has increased 5 fold. The same pattern is in existence here. It is wasted funds, with no cost benefit improvements.
NZ needs more tradesmen and entrepreneurs not social workers, policy analysts or heaven forbid town planners.

The answer Keyster is let the private sector provide the new whizbangs and stick your damn knitting. If you are going to sell of the silverware, then invest the money in irrigation, mining/drilling/refining, or build some new electricity generation. Repeal the RMA, and then repeal Sandra's local Govt bollocks.
Then spend the next term repealing as many laws as you possibly can so we can get rid of the endless paper shufflers and the people who create jobs, and create the wealth to pay the wages AND THE TAXES can get on with theirs.

The Gantt Guy said...

Mort, "The assets generate an ROI in excess of what NZ pays in interest"

In the debate on Q&A yesterday, (I think) Dr Brash said Treasury modelling showed the returns from the 5 "assets" in the gun are less than the rate of inflation. No link and I can't guarantee it was Brash or that it was Q&A, but (if you can stomach it) Q&A is online at TVNZ's site.

Also on the idiot box this morning, the Quisling Keyster said by selling up to 49% they reckon they'll forego about $160 million over the forward estimates, against the %billions they expect to receive by floating.

Incidentally, Brash nailed it on Q&A when he asked "does anyone seriously believe the government runs a business better than the private sector?"

PM of NZ said...

Mort and others, I call it as I see it.

Whilst I may not see some supposedly subtle political nuances, it certainly strikes me that you would not run your household budget the way these bastards run our economy.

If the missus was out shopping till she drops on the credit card, I'd soon cut the card in half. Next if the boomerang teens were lounging around all day on my dime doing sod all looking for the next handout, they'd soon be kicked into touch and forced out to live in the real world.

Sure it might be nice to do a bit of upskilling here and there, some social engineering or the like, but when you're NZ is now, surviving is the only option.

Anonymous said...

Actually, I think Helen was far more honest and above-board than Key.
Genuine charm, not fake and prideful.

Mort said...

didn't watch Q&A, but I suppose more information is required regarding the dividends and the actual proposed sale prices as this will determine the ROI. If the ROI is less than the interest rate then I stand corrected and change tack to say screw that, sell the whole damn thing, but invest the money in real assets which will improve productivity in the here and now, stuff like more electricity generation, mines, oil rigs, gas exploration, and more importantly irrigation. Do a land swap marginal productive land inland in of CHC, and turn the redzones like Bexley into a Dairy farm. I agree with you PM, their spending is bereft of basic financial nous, and needs to be corrected. Selling our Great grandchildren into debt slavery is not an option we should follow

Mort said...

Helen and honesty are 2 words that aren't even in the same hemisphere let alone the same sentence