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@kirwan said in NZ Politics:
@jc said in NZ Politics:
@taniwharugby I read that. Horseshit isn't it? No matter how good Dr Reti is, if he can't win the next election then none of his other talents matter, and the assessment of his peers is that he doesn't do the politics very well.
It would be repeating the mistake of putting English in as leader. A very good MP, but a flat leader.
The contrast between Luxon and Reti's speeches in the last week was striking.
English wasn't the most energetic leader but he did bloody well in that election. If Jacinda had any morals at all she would have also told Winnie to go fuck himself, but she had a lust for power so formed a dysfunctional government with a far left and a far right party instead.
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@muddyriver said in NZ Politics:
@nzzp housing and immigration are the major keys here.
NZ added over half a million people in the last 10 years through immigration alone (highest per capita in the oecd). Whilst we added little in terms of infrastructure and have horrendous city planning. This has exasperated the housing crisis where rentals are impossible to find now. It has also allowed our industries acces to cheap labor and thus they had less incentive to invest in more productive means. It has bloated farm prices as these farms costs have been reduced through cheap labor.
Housing is the golden goose in nz where few investments could match a highly geared property portfolio. Now this is a self fulfilling prophecy, why take high risk trying to create a productive business when you can buy more properties. Obviously that's on a spectrum but newzealanders by in large a far too keen on property which creates little real new value(existing) but has added billions in debt. I believe in the last couple of years it has finally started to weigh down the economy, which we will feel harder in a year when interest rate rises hit the market fully. Disposable incomes will plumet unless wages increase dramatically.
The sad thing is so much is reliant on the property industry it is very much too big to fail. It is a very hard problem to fix now. I think John key had the best opportunity after aunty Helen did some great damage.
Adding economic growth through the easy route of rampant migration has been the go-to of the Australian government too. With the exact same ramifications for property and infrastructure. Unfortunately the politicians seem tone deaf to the calls to massively restrict migration and the economic deadweight of investing in existing housing.
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@no-quarter don't they all have a lust for power? as in that's the name of the game no?
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@paekakboyz said in NZ Politics:
@no-quarter don't they all have a lust for power? as in that's the name of the game no?
Most do, but not so much English, he actually seemed like a good person.
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@taniwharugby said in NZ Politics:
Reti seems very capable. But I don't think he has shown he has the personality to lead. Will make a good MoH though
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@paekakboyz said in NZ Politics:
@no-quarter don't they all have a lust for power? as in that's the name of the game no?
Labour were right to try to grab power. Why not? I blame that political cockroach Winston Peters for sending us down the rabbit hole. We have a government who don't really know how to get things done. And after losing power the Nats lost a lot of talented MPs and descended into the dumpster fire they are now
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@ploughboy said in NZ Politics:
they have moved on from religion today and on to the fact he owns 7 houses
Yeah, I thought those articles were bizarre. I mean, shock horror, kiwi man who had enormous salary invested in property. It's not even seven houses either, aren't at least two of them commercial buildings?
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@canefan said in NZ Politics:
@taniwharugby said in NZ Politics:
Reti seems very capable. But I don't think he has shown he has the personality to lead. Will make a good MoH though
He's definitely very capable, but he doesn't come across as a very engaging speaker. He didn't fill me with confidence in that presser about Collins being rolled. Kinda reminded me of at school when the teacher picked the non-confident kid to thank the guest speaker in the classroom or something.
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@aucklandwarlord yeah I went to an event a couple of years back where he was one of the speakers (fortunately went before Grant Fox and Glenn Taylor rather than after) and he does seem to struggle with delivery and tone, cant fault his passion, but being a great orator just doesnt come naturally to some.
Still hope for Nats sake he stays near the front
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@muddyriver said in NZ Politics:
@nzzp housing and immigration are the major keys here.
NZ added over half a million people in the last 10 years through immigration alone (highest per capita in the oecd). Whilst we added little in terms of infrastructure and have horrendous city planning. This has exasperated the housing crisis where rentals are impossible to find now. It has also allowed our industries acces to cheap labor and thus they had less incentive to invest in more productive means. It has bloated farm prices as these farms costs have been reduced through cheap labor.
Housing is the golden goose in nz where few investments could match a highly geared property portfolio. Now this is a self fulfilling prophecy, why take high risk trying to create a productive business when you can buy more properties. Obviously that's on a spectrum but newzealanders by in large a far too keen on property which creates little real new value(existing) but has added billions in debt. I believe in the last couple of years it has finally started to weigh down the economy, which we will feel harder in a year when interest rate rises hit the market fully. Disposable incomes will plumet unless wages increase dramatically.
Unfortunately that's an economic fallacy that is easy to believe. In the medium to long run disposable incomes don't increase if you increase wages dramatically. The wage increases tend to trigger an inflationary cycle that at best maintains the disposable income in real terms. For the working poor it will usually decrease their already limited disposable income. A more accurate statement is that disposable income will plummet unless productivity increases dramatically. There's no getting away from the fact that NZ is a low productivity economy.
The sad thing is so much is reliant on the property industry it is very much too big to fail. It is a very hard problem to fix now. I think John key had the best opportunity after aunty Helen did some great damage.
It may be too big to fail, but even if it wasn't you'd likely still have over-investment in property. Sometimes economically it helps to look for the negative space. In this case if people didn't invest in property what would they be investing in instead? Forget ROI, is there any onshore, in-market alternative out there that even offers inflation-proofing?
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@jc how could we increase our productivity?
And that's not a fallacy, there it's a not a theory.
Interest rates have gone up and if incomes remain static the average new Zealanders will have less disposable income after they refix. 60% come off fixed next year. -
@muddyriver I’m not disagreeing with the drop in disposable income, I’m just saying that a big increase in wages won’t fix it. Without increasing productivity wage increases are inherently inflationary. Right now that’s the last thing the country needs.
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Simon was given a predictable deal to secure his loyalty
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@canes4life said in NZ Politics:
@gt12 lol the guy has made a success of himself and has invested wisely, seems like a smart man to me. Hardly his fault the market is overly inflated.
A bit of tall poppy syndrome creeping in here for me.
The old politics of envy raising its head again.
It never worked against Key.
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@kirwan said in NZ Politics:
@canes4life said in NZ Politics:
@gt12 lol the guy has made a success of himself and has invested wisely, seems like a smart man to me. Hardly his fault the market is overly inflated.
A bit of tall poppy syndrome creeping in here for me.
The old politics of envy raising its head again.
It never worked against Key.
Nothing wrong with aspiring to be better. Funny how we kiwis think it's a negative trait
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