And the rich get richer (20 Mar, 2020)

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And the rich get richer (20 Mar, 2020)

Postby aardvark_admin » Fri Mar 20, 2020 6:20 am

This column is archived at: https://aardvark.co.nz/daily/2020/0320.shtml

Many a fortune made in a crisis -- or so they say.

In the case of the current pandemic, it looks pretty certain that the rich will get a whole lot richer while the poor get a whole lot poorer.

Might the biggest danger from this virus be the risk of political instability it produces. Could large masses of starving and impoverished people turn to those who offer extreme socialist policies as a solution to their plight?

It's happened before in history, could it happen again now?

And what will happen to all those who can't meet their mortgage or rent payments?

Who will collect the spoils of bankrupted companies and individuals for pennies on the dollar?

Or has the whole thing been somewhat overstated? Could this be over as quickly as it began?

Remember, the mainstream media has an agenda here to create hysteria and panic because it keeps people glued to their TV sets, radios and browsers.

When I see the *huge* levels of disinformation, misinformation, hysteria and outright lies the MSM publishes in respect to drones, I can't help but be incredibly skeptical of everything I read about COVID-19 -- and we must always remember that our politicians are not the brightest bulbs in the socket. Again, experience in drones has shown that most of our politicians seem to get their information from the pages of the Daily Mail so we can't even trust government to be acting rationally or making decisions based on facts rather than tabloid sensationalism.

Your thoughts please...
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Re: And the rich get richer (20 Mar, 2020)

Postby namartinnz » Fri Mar 20, 2020 8:50 am

Being a small home business owner, where income is derived from discretionary spending, I'm going to take a hit. I've always put money aside for a rainy day and have a home mortgage set up so I could basically not have any work for another year and still be ok. I've invested in shares over the last 20+ years and seen many ups and downs. With the current share market carnage it's a good time to buy shares in companies here and overseas that will come out the other side and eventually shine again.

I'm no rich person, driving a 22 year old vehicle, a house with carpet and decor dating to the 70s, foregoing overseas holidays, flash toys , and nights out having meals. I certainly feel for those teetering on the edge, where everything is out of their control.

In the meantime it's just another day at home/office in what others could see as self isolation (but with external freedoms)
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Re: And the rich get richer (20 Mar, 2020)

Postby phill » Fri Mar 20, 2020 9:54 am

one of the first items they should have started with in the relief package should have been regs to stop banks effectively profiteering during this time
with both payment and interest default fees going to bring huge windfalls for them
apart from defacto owing a huge percentage of the housing stock when its over

and yes
there will be a lot of scraps for the shit hawks to fight over
how to avoid this is a problem
the problem has been pointed out .. so what are solutions

at the least we should try some form of repayment and interest halt / freeze .. its not like they are paying much for bank account interest
if the bank management have to cut their multi million salaries down to a few hundred k .. well they are joining the same party as most of the rest of the population
and while we are there
snivel servants and pollies also need to take huge wage and salary cuts .. its not like they have to go on so many onerous overseas trips anymore

we can go across the board with this by super taxing all earnings ( read theft ) over 150k
( ,,,,,,,, ....... 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: And the rich get richer (20 Mar, 2020)

Postby cjet » Sat Mar 21, 2020 7:18 am

Covid 19 hits. Boarders locked down
Govt makes credit card interest -28%
Wait! What?
That’s right the government removes imposes reverse interest rates
Why punish those that spend on credit card
Well bank immediately stops credit
So the govt immediately issues it’s own
Own credit facility interest free for 18 months
As the Australian banks pull out of nz
The govt gets into the banking industry
Extremely profitable
Now Bruce you will see trump take the oil
And trump will own shares in air New Zealand if he gave it $600 million taxpayer backed funds
The people would see a reset
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