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  1. #1
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,419

    Default Helicopter Money (so-called)

    I suspect most of us are right p*****d-off with NZ's brain-dead, Socialist-Cindy-struck media.

    But some days, the gall is just too much.

    Have you seen this quaint reference to (so-called) helicopter money? No surprise that even Shammy and other econ-o-mists are in on the charade.

    Nowhere, but nowhere have I seen the faintest vestige of critical appraisal of this new "helicopter money" wonder-euphemism. Certainly not from NZ's nouveau moronic donor-media. ("Helicopter money" is a new expression so we must 'take it on board and run with it in this window of opportunity . . . and seize upon and appreciate it?')


    "Helicopter money" is (vaguely / speculatively) proposed to be some sort of $1500 cash hand-out to NZ citizens from the current socio-commie gummint.

    Hello, hello, is there anybody there?

    If it happens, the stark reality is that the gummint must borrow the (proposed) $1500 per-person largesse.

    And the plebeians who receive this hand out will have to pay it back in taxes. I.e. They, their children and their children's' children. Maybe even more generations than that?

    Meantime, the tens of billions borrowed and already handed out has no product and services backing, because most people were couch-potato web-surfing, at home.

    Hell only knows what that's going to do to the purchasing power of the NZ dollar as a consequence.

    Wonder if we will see a bank haircut, [OBR] in the not-too-distant future?

    Meanwhile, this in from Wesux: (contains satire)

    Quote Originally Posted by David McLean, Wesux CEO
    Yesterday we experienced a serious and extended technology systems issue that left many of you unable to do your banking, including making and receiving payments. This incident will have created extra stress and anxiety for many of you, and I'm deeply sorry for this.

    The problem occurred early in the afternoon and affected many of our systems including our website, online banking and contact centre. It also affected some card services, and caused delays to payments. Although we pride ourselves on our robust and reliable ability to separate our clients from their moneyy, and we have well-tested backup plans, our systems are large and complex and this issue took a long time to resolve. Our staff worked through the night to resolve the issue, and our systems were back up and running by this morning.

    So we're back on deck and ready to assist you with banking that separates you from your money.

    Please call us on 0800 400 600 if you are still experiencing any problems and our contact centre schemers will be happy to help Wesux to help itself to your money.

    Oh and BTW:
    Because we've indulged in some regulatory 'sharp practices,' Westpac deferred its dividend after soaring bad-debt provisions and a potential record anti-money laundering fine which sent our first-half-year earnings plummeting to the lowest in almost two decades. A measly A$993 million in the six months ended March 31, our smallest profit since 2002.

    You can have no idea how much that hurts.
    Take care out there - we're here to help you. Or rather, help ourselves to your money.
    No shame. None at all.
    Last edited by Perry; 13-05-2020 at 11:18 AM. Reason: tidied quoted item
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  2. #2

    Default

    Give poor people money, and they will spend it.

  3. #3
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,397

    Default

    keep the plebs sidetracked, while laws that overwrite ALL our rights are secretly implemented, to make up for the illegal actions already taken to institute the Police State
    https://thebfd.co.nz/2020/05/12/be-a...-state-powers/

  4. #4

    Default

    Quote Originally Posted by Keithw View Post
    keep the plebs sidetracked, while laws that overwrite ALL our rights are secretly implemented, to make up for the illegal actions already taken to institute the Police State
    https://thebfd.co.nz/2020/05/12/be-a...-state-powers/
    And why is that not in the news!
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  5. #5
    Join Date
    Apr 2004
    Location
    Auckland
    Posts
    2,017

    Default

    But it's not an election bribe...
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  6. #6
    Join Date
    Jan 2012
    Posts
    1,142

    Default

    Trump hands out helicopter-money and it's called sound economic stimulus in a time of financial uncertainty.
    Adern's government suggest a similar handout and it's called an election bribe.

  7. #7
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,419

    Default

    No matter what it's called and by whom, the point is that the gummint has no money that it does not borrow on behalf of NZ citizens, or take from NZ citizens in taxes - whether that be later or sooner.

    It seems there are few who grasp that.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  8. #8

    Default

    Quote Originally Posted by Perry View Post
    No matter what it's called and by whom, the point is that the gummint has no money that it does not borrow on behalf of NZ citizens, or take from NZ citizens in taxes - whether that be later or sooner.

    It seems there are few who grasp that.

    Well by some accounts “More than two-thirds of New Zealanders think a lump sum cash payment paid to everyone will be an effective way of stimulating the economy” [Horizon Research see https://www.stuff.co.nz/business/300...rom-government

    AND as for paying for it, Economist Mr. Geoff Simmonds opines in an article for Stuff "How would we pay for it? In the current situation, a UBI would be used as an economic stimulus in response to Covid-19 and so would be funded by debt. Some have even suggested that if the crisis lasts long enough the Reserve Bank may be willing to fund a UBI by printing money as there is little chance of inflation." [Italics and bold added Stuff, 26 April 2020 see https://www.stuff.co.nz/national/pol...welfare-system

    What articles like this lead common folk to "grasp" is that the kiwi dollar is debased [only about 7.7% backed by gold] and "printing money" comes with little expense save for a slight under arm tickle to inflation.

  9. #9
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,419

    Default More Dangerous Deceit

    A UBI is not an income.

    It is a UBB - a universal basic benefit.

    And once again, no one seems to reflect for long on where the money comes from.

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

  10. #10
    Join Date
    Aug 2003
    Posts
    7,824

    Default

    Quote Originally Posted by Perry View Post
    I suspect most of us are right p*****d-off with NZ's brain-dead, Socialist-Cindy-struck media.

    "Helicopter money" is (vaguely / speculatively) proposed to be some sort of $1500 cash hand-out to NZ citizens from the current socio-commie gummint.

    Hello, hello, is there anybody there?

    If it happens, the stark reality is that the gummint must borrow the (proposed) $1500 per-person largesse.

    And the plebeians who receive this hand out will have to pay it back in taxes. I.e. They, their children and their children's' children. Maybe even more generations than that?



    No shame. None at all.
    Did you read this discussion Perry? There are no financial constraints and they just need to keep issuing more $$.

    cheers,

    Donna
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