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Financial Armageddon!!

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  • Time to re-run that so-explicit cartoon . . .

    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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    • "As this article says, CGT on $1 trillion would have been $300 billion or 700 000 homes. Or fund the next 14 years of Pensions.."

      Which continues the error that all politicians and lawdrafters make - the assumption that people will not modify their financials once a law is passed that penalizes the existing setup.

      There are always ways around these things for the smart and wellfunded.

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      • [QUOTE=Perry;444647]Time to re-run that so-explicit cartoon . . .

        Yes in NZ because we are so damn isolated thinking we are a country but really we are a town run by the Sheriff of Notingham with no Robin Hood.

        Socialism does work in many countries who have solid economies. Look at countries like Germany where health insurance is compulsory etc, taxes are high but everything is provided for, look at their property market on that graph, flat lines around 100 which economist agree is the ideal. For Germany to have no ups and downs simply means external economies and their own politics have no effect on their Property market. I have a fair understanding having lived there is a gorgeous house which when the folks die will have inheritance tax applied. If its not paid then the house is foreclosed and tax taken from that. Of course the majority of inheritees make sure they are prepared for this.

        So yes I know its failed in NZ but it truely is because people have F all idea how it should be run. A bit like somebody in pre roman britain trying to build cities with aquaduct

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        • Originally posted by flyernzl View Post
          "As this article says, CGT on $1 trillion would have been $300 billion or 700 000 homes. Or fund the next 14 years of Pensions.."

          Which continues the error that all politicians and lawdrafters make - the assumption that people will not modify their financials once a law is passed that penalizes the existing setup.

          There are always ways around these things for the smart and wellfunded.
          Perhaps a few with Business and smart accountants, but to be honest I think the majority would not bother and get use to it. Much like the price of Cigarettes yet people are committed to horrible deaths and paying out their bum for it. I remember pre GST. At the time there was an upror, but 1 year later and everyone was use to it and nobody cared any longer.

          NZ needs more tax on property, inheritance and assett testing for Pensions, or abolish them and make needing an old aged BENEFIT a WINZ based process. And make the age 67yo now, Not burdened on the next gen only. Fair is fair. :-)

          Comment


          • Originally posted by OnTheMove View Post
            Fair is fair. :-)
            Aha. All's fair and is fair in love and economics, eh?

            Since this is an era when many people are concerned about 'fairness' and 'social justice,' how do you calculate what is your 'fair share' of what someone else has worked for?
            See the tale of the little red hen, here.
            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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            • germany can afford 1st world social development

              because their productivity is >60% greater than ours

              https://time.com/4621185/worker-productivity-countries/

              “I was in England for an exchange... I was in the office and the people are talking all the time about their private things... ‘What’s the plan for tonight?’, and all the time drinking coffee...”

              She was quite surprised by the casual nature of British workers

              Upon further discussion, the Germans reveal that Facebook is not allowed in the office whatsoever, and no private email is permitted.

              (nz productivity 20% less than uk + oz)

              https://www.huffpost.com/entry/why-g...r-ho_b_6172262

              https://www.independent.co.uk/news/b...-a7834921.html

              germany has the 2nd lowest home ownership in the developed world

              in part because mortgages are very, very hard to get and the gov. doesn't encourage private ownership

              https://qz.com/167887/germany-has-on...nership-rates/





              Last edited by eri; 27-10-2019, 06:36 PM.
              have you defeated them?
              your demons

              Comment


              • Originally posted by OnTheMove View Post
                NZ needs more tax on property, inheritance and assett testing for Pensions, or abolish them and make needing an old aged BENEFIT a WINZ based process. And make the age 67yo now, Not burdened on the next gen only. Fair is fair. :-)
                Now you're trolling.
                Or an elderly socialist.

                Comment


                • Originally posted by Bob Kane View Post
                  Now you're trolling.
                  Or an elderly socialist.
                  Labels like "socialist" or "capitalist" annoy me a little bit.
                  I get the feeling that silly people use them without really understanding them.
                  (Present company excluded of course).

                  I even doubt that the authors of the books, that propagated the names, really thought them through.

                  I've found that people need to own and control things, in order to maintain and improve those things.
                  And get a reward for doing so.

                  On the other hand, no man is an island, and everything benefits from co-operative behavior.

                  It's most probably mostly all about imagination and hope.
                  see:
                  https://en.wikipedia.org/wiki/Werner_Sombart
                  Last edited by McDuck; 28-10-2019, 07:41 AM.

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                  • Originally posted by OnTheMove View Post
                    P

                    NZ needs more tax on property, inheritance and assett testing for Pensions, or abolish them and make needing an old aged BENEFIT a WINZ based process. And make the age 67yo now, Not burdened on the next gen only. Fair is fair. :-)
                    So how frequently would you make each pensioner rerun the asset test?
                    Once is not enough, obviously, as someone who 'qualifies' at retirement age may well win Lotto or inherit large sums at a later stage.
                    All very expensive in terms of staff, offices, stationery and computer systems.

                    Moving the age to 67 (or later) is all very well for office workers in their air conditioned offices, but what about the real workers (builders etc.) who are physically worn out at 65 or even earlier?

                    All solutions begat even more problems.

                    Comment


                    • Originally posted by flyernzl View Post
                      Moving the age to 67 (or later) is all very well for office workers in their air conditioned offices, but what about the real workers (builders etc.) who are physically worn out at 65 or even earlier?
                      Life expectancy has increased by over 25 years since the pension age was set back in 1898. Back then the "real workers" weren't even expected to live long enough to see it.

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                      • does that mean boomers and x-gen need younger workers to support them longer

                        or that we need to spend less/save more for our longer lives?

                        bugger me, i live in a 2nd world economy

                        better not spend so much in my 60s + 70s

                        if i want to live reasonably in my 80s + 90s
                        Last edited by eri; 28-10-2019, 08:33 PM.
                        have you defeated them?
                        your demons

                        Comment


                        • Originally posted by eri View Post
                          does that mean boomers and x-gen need younger workers to support them longer

                          or that we need to spend less/save more for our longer lives?
                          Does it have to be exclusively one or the other? If your life expectancy has increased by 25 years what's wrong with working 2 or 3 more? You still end up with 22 more state paid years of leisure than your predecessors.

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                          • why we need immigration

                            https://vimeo.com/369187996?fbclid=I...pqgZObpr5dIohU
                            have you defeated them?
                            your demons

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                            • "Historically, companies competed based on the quality of their products or services," Schlosstein said.

                              "Today we run the risk of going into a decoupled world where companies are going to compete on the basis of where they happen to be domiciled and with whom they happen to be allied.

                              That will be an economic and growth destroyer."

                              https://www.stuff.co.nz/business/wor...o-billionaires

                              could equally be people
                              have you defeated them?
                              your demons

                              Comment


                              • Originally posted by eri View Post
                                Wait, what?

                                How does a small Japanese spa town relate to NZ?

                                long stretch there.

                                Top marks for the matchmaker in the piece though.
                                Love that kind of clever problem solving.

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