Post by Mutlley Post by Rich80105 Post by Crash Post by Rich80105 Post by Crash Post by Rich80105
I do not believe we have anything like this level of persistent
stupidity in New Zealand. Here we do have isolated deliberate
mis-statements by idiots who believe the short term gain is worth the
risk of long term loss - the "billion dollar hole" was probably a
recognition that a political career was at an end anyway for example.
The article about Trump is a bit of a yawn. Yet another in the long
list of Trumps laughable antics. The pity of it all is that many of
the voters in the USA don't see how the rest of the world sees their
leader as the clown that he is. Either that or they don't care.
There is plenty of opportunity here to examine how our Government has
handled the impact of COVID-19. While there is widespread support for
the health-focused measures (lock-down actions, border shutdown etc)
their fiscal response is slowly being exposed as rife for fraud. This
can be met with strenuous efforts to claw back payments from entities
that can be shown not to have suffered as expected (ie companies that
have not shown a 30% revenue reduction) but even then the very loose
criteria for the wage subsidy is an opportunity (ie why were companies
unaffected by the lock-down allowed to claim?). I don't have much
confidence in National, as the opposition party, to get this done
This video was apparently put together by a Republican PAC, concerned
about polls saying Trump may lose the next election. The contrast
with our concern over keeping businesses going so that people can keep
in wok is stark.
That is a video targeting discontent with Trump and using their
COVID-19 pandemic response to do that. It has nothing to do with the
economic impact of COVID-19 except to use that as collateral in
attacking Trump. All valid stuff (I consider Trump to be similar to
Peters) but there is no equivalence between that video and NZ.
My point was that here there have been large amounts spent by
government to continue wages at an 80% level; we have not seen the
same increases in unemployment (at least as yet) that were featured in
the video; and those payments have been largely supported by both
major parties - indeed National want to spend another $9 billion to
help businesses by forgiving up to $100,000 of GST otherwise payable.
Our actions are radically different from America, and the degree of
bi-partisan accord is also a huge difference.
You mean unemployment like this ??
Absolutely, Mutley. Unemployment had risen to 4.2% in the March
Quarter - that will include some impact from Corvid-19
"The seasonally adjusted unemployment rate rose to 4.2 percent in the
March 2020 quarter, up from 4.0 percent last quarter, Stats NZ said
Our surveys captured a robust labour market in the period before New
Zealand went into COVID-19 lockdown. The unemployment rate has
remained stable at around 4 percent since late 2018, after trending
down since late 2012, labour market and household statistics senior
manager Sean Broughton said." It will have picked up some of the
returning New Zealanders, but many came back after the end of March.
That is still about 10,000 fewer unemployed than at the time of the
last election, but it will increase sharply in the next 2 quarters.
All the saving of businesses will not affect the large loss of
tourism. Mutley, but as the article your referred to says, 300,000 is
very much a top estimate.
The level at 31 March is probably a good level to measure how long it
takes to recover; I suspect a few years. Tourism may not return to the
same levels for many years; we will need to look for other development
to achieve lower unemployment again; hopefully in areas that are not
as low margin and risky as tourism. It encouraged a lot of low paid
immigration and temporary workers, and high risk for many owners of
accomodation and attractions, with little net gain to New Zealand.