Has the claw-back begun? (31 Aug, 2020)

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Re: Has the claw-back begun? (31 Aug, 2020)

Postby phord » Mon Aug 31, 2020 11:28 am

According to this article, Graeme Hart is a ruthless man:
https://iso.org.nz/2017/01/20/know-your-class-enemy-graeme-hart/
Forbes valued him at $11.6 Billion in 2017. No doubt worth even more now.
This kind of wealth is obscene for a country with only 5 million.
Last edited by phord on Mon Aug 31, 2020 12:41 pm, edited 1 time in total.
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby aardvark_admin » Mon Aug 31, 2020 11:32 am

What about Bill Gates who, with wife Melinda, have contributed massive amounts to various charities and good works via their philanthropic activities. Not all of the super-rich are without a social conscience perhaps.
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby Perry » Mon Aug 31, 2020 11:39 am

hagfish wrote:I don't know why the government has to 'go to the market' - why go cap-in-hand to the Aussie banks like some schmuck, to borrow its own currency?

Where did you learn / hear that it came from Oz?

It was not currency (paper & coin) that was borrowed. It was credit.
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby hagfish » Mon Aug 31, 2020 1:27 pm

Perry wrote:
hagfish wrote:I don't know why the government has to 'go to the market' - why go cap-in-hand to the Aussie banks like some schmuck, to borrow its own currency?

Where did you learn / hear that it came from Oz?

It was not currency (paper & coin) that was borrowed. It was credit.


Well, there's this, which was somewhat reassuring - the Government isn't borrowing it all of it from overseas - only about 30%. And - I agree - it's a long time since 'money' has had any basis in reality (if it ever did). The Govt has simply set up a line of credit. It's about as long as a piece of string :D
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby phill » Mon Aug 31, 2020 1:38 pm

wasn't that part of the great leap forward ( aka trickle down economics )

get elected politicians who no longer understood how money was created or who did the creating
( ,,,,,,,, ....... A E I O U use em sparingly theres probably not enough )

i might live and eat in a sewer .. but hey look how many of these shiny things i have got
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby paulw » Mon Aug 31, 2020 4:08 pm

Definitely a tax grab. When you look at the graph for fatal accidents only 15% are attributed to speed yet the police (government) place 100% of their attention on it.. I suspect it we all stayed at the speed limit we would see random check points being setup looking for something else to make revenue from.
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby aardvark_admin » Mon Aug 31, 2020 4:11 pm

paulw wrote:Definitely a tax grab. When you look at the graph for fatal accidents only 15% are attributed to speed yet the police (government) place 100% of their attention on it.. I suspect it we all stayed at the speed limit we would see random check points being setup looking for something else to make revenue from.

Watch for more pop-up temporary speed restriction zones... you know, the ones that have a few orange cones and a temporary 20KPH sign for 500m on seemingly perfectly good road -- with a cop sitting at the end with his ticket-book and laser/radar :-)
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby Perry » Mon Aug 31, 2020 4:20 pm

hagfish wrote:Well, there's this, which was somewhat reassuring - the Government isn't borrowing it all of it from overseas - only about 30%.

Well, perhaps you can explain these snippets from the item you referenced.

To the layperson, this fancy accounting can sound ridiculous. It looks like the central bank, which is a government institution, is simply creating money to allow another part of the government to spend it on wage subsidies or other Covid-19 policy responses.

This leads to the very simple question of: If the government is effectively borrowing most of this extra money from itself, does it really need to repay it in the future?

Central banks that undertook quantitative easing during the Global Financial Crisis have since barely reduced their government debt holdings.

Of course, there's an acceptance that "creating money" is a lie. It's actually creating more credit, aka increasing debt.

Then we have this:

The Reserve Bank is targeting $100b of quantitative easing and will end up owning around 60 ​per cent of all government bonds. RBNZ already owns around 23​ per cent of government bonds and it’s buying them at a rate of around $940​ million a week.

Buying them from whom?

And with what? An IOU or two?
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby Perry » Mon Aug 31, 2020 4:30 pm

paulw wrote:Definitely a tax grab. When you look at the graph for fatal accidents only 15% are attributed to speed yet the police (government) place 100% of their attention on it.. I suspect it we all stayed at the speed limit we would see random check points being setup looking for something else to make revenue from.
aardvark_admin wrote:Watch for more pop-up temporary speed restriction zones... you know, the ones that have a few orange cones and a temporary 20KPH sign for 500m on seemingly perfectly good road -- with a cop sitting at the end with his ticket-book and laser/radar :-)

The ideal place for that is temporary speed restrictions because people are undertaking repairs. On the w'end, when no one is there, the signs are not often taken down.

A definite potential bonanza.
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Re: Has the claw-back begun? (31 Aug, 2020)

Postby phill » Mon Aug 31, 2020 10:34 pm

i have been seriously looking at buying one of these
https://www.aliexpress.com/item/32963562779.html

looks like it becomes a lot more desirable
follow to close warning
lane departure warning
reversing cam
front recording cam
X, K, Ka and La detectors .. all looking just like a recording cam
( ,,,,,,,, ....... A E I O U use em sparingly theres probably not enough )

i might live and eat in a sewer .. but hey look how many of these shiny things i have got
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