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Friday, May 29, 2009

Budget 09 – National kill off superannuation, plant mass prison riot seeds and do nothing to prepare for the coming economic depression


Now, we here at Tumeke have been pointing out for sometime that the coming global depression, (spawned from corrupt corporate America lending scams that saw complicated financial equations that not even former Fed chief Alan Greenspan could understand used to grant people money they never could pay back by pretending the property they were buying would increase in value by 6-9% forever and ever and ever), will be much worse than the current Government is admitting or prepared for, and this budget is proof of that.

Just enough to keep the very same people who AAA+ rated Corporate America before it collapsed from down grading us, this budget really shows National are screwed. The depression in front of us, as spelt out in the worst case scenario Treasury attached to the budget…

Unemployment will swell - Treasury
The main forecast assumed some growth would begin to flow through in the 2009 December quarter, but Treasury warned if New Zealand's trading partners showed ongoing weaker growth, New Zealand's economy could continue to decline through 2010 and push unemployment up to 10 percent.

"Higher unemployment would lead to more mortgagee sales and lower demand for houses with housing prices falling further than in the main forecast," Treasury said.

Under the mid-range forecast house prices would fall by 20.4 percent in real terms from their peak in 2007.


…is so extreme that National don’t know if their normal right wing slash and burn routine will actually lead to something much worse. While they hold onto Labour’s entitlements that many NZers are budgeting with on a week to week basis, they are robbing Labour’s future entitlements by effectively killing off superannuation in NZ. Those fucking babyboomers once again manage to rob Generation X, because as Bernard Hickey points out, 10 years of no money into that fund will start to show up short by 2025.

Tax cuts being dumped is no surprise, but then again National knew they couldn’t manage those tax cuts when they promised them to NZers, welcome back to the bad old days when Politicians simply lied to get elected, how does that change feel hu folks?

One of the worst parts of this budget though was the absolute mis-step National have taken to double bunk 5 more prisons even though they agreed they had to build a new prison to keep up with their medieval hard line law and order nonsense…


Budget 09: New jail plan goes as Govt opts for two inmates a cell
The National Government has scrapped building a new prison and will gamble on ramming inmates into existing space with double-bunking to deal with bulging numbers. The Budget put $385.4 million towards double-bunking in five prisons, creating cell space for 1000 more inmates. There was no funding for the new prison that National had maintained until yesterday would be required under its law and order regime.

…let’s be very clear, if you think the dehumanized prisoners coming out of prison and exploding in society are a problem now, they are nothing compared to the damaged individuals double bunking are about to create. National have doomed all those who they are increasingly wanting to throw inside prison to merely repeat the violence they are about to undergo themselves, double bunking is a fucking nightmare and the abuse it fosters will be repaid to an unwitting society the minute the rats are let out of their cages. What an abomination in the making National have seeded, my guess will be mass prison riots the likes we’ve never seen here.

What to do for National? Economic times demand a social welfare state from a Political Party that hates that concept and while National try to tightrope it’s agenda with no real vision forward, the extremist right wingers amongst their fold will start to demand radical free market solutions, the question we at Tumeke have always asked is can John Key resist that while the country sinks further and further into depression?

13 Comments:

At 29/5/09 2:15 pm, Anonymous Anonymous said...

The budget gives ten times as much for building prisons ($385 million) as building universities ($36m).

GOOD THING THEN THAT THEY ARE ALREADY COMPLETED WITH OVA A DECADE AND A HALF OF RADICAL BUILDING GROWTH!

THEY OVER-EMPHASISE THE PRIVATE VALUE OF BOTH KNOWLEDGE ITSELF AND HIGHER EDUCATION AS A KNOWLEDGE AGENT.

A DEVALUING COMMODIFICATION OF EDUCATION.

STRONG INTELLECTUAL PROPERTY RIGHT REGIMES MAY INHIBIT GROWTH.SHARING AND TRUST ARE MORE IMPORTANT.WAITING FOR A BOOK FROM SHORT LOANS WON'T KILL YA, BUT THE FINE PER MINUTE FOR NOT TAKING IT BACK ON TIME WHILE STUDYIN FOR EXAMS MIGHT.

THE DISTINCTION BETWEEN STUDY AND WORK IS BEING BLURRED, AND WE ARE ALL BEING PLACED AS OWNERS OF OUR OWN INTELLECTUAL CAPITAL, INSTEAD OF SHARING THROUGH STRATEGIES FOR RECIPROCITY INSTEAD OF CODIFIED TACIT KNOWLEDGE.4000 CHARACTERS HTML ANYONE?

ECONOMIC DEMAND LEADS TO LIFELONG LEARNING FOR THE WORKFORCE.INCLUDING THE USE OF LEARNING TECHNOLOGY.CREATIN A GLOBAL LEARNIN INDUSTRY.KNOWLEDGE SOCIALISM SHOULD INSIST ON FREE ACCESS TO SHARED KNOWLEDGE.YET WITH THE MASSIVE SWEEP OF NEOLIBERAL REFORMS, RESTRUCTURING AND PRIVATISNG EDUCATION, "CHOICE AND DIVERSITY" ARE BEING PROFERRED AS ALTERNATIVES THROUGH JOINT PUBLIC/PRIVATE PARTNERSHIPS LIKE MAORI IN PRISONS.WOT ABOUT NON-MAORI.HOW WILL THEY BE TREATED.AS SECOND-CLASS CITIZENS NO DOUBT!

STATE PROVISION GUARANTEES THAT IT CATERS FOR ALL THE MASSES
IN EDUCATION.WHO WILL FIND THEMSELVES AS THE MAJOR OWNERS AND CONTROLLERS OF THIS IN THE FUTURE?

AN ATTACK ON BIG GOVT EQUALS REDUCTIONS OF STATE PROVISION, FUNDIN AND REGULATION.

 
At 29/5/09 2:19 pm, Anonymous Frankie said...

Stop it Bomber, you're scaring me..

It makes me want to go into my underground bunker and lie down with the blankets pulled up over my head, put my fingers in my ears, and hum 'These are a Few of my Favourite Things' to myself til this horrible nightmare stops.

"Raindrops on roses and whiskers on kittens..."

 
At 29/5/09 3:23 pm, Anonymous Anonymous said...

Such a prophet of doom.

I would hate to be a guest at a dinner party at the Bradbury house.

You make your typical Emo look positively outrageously optimistic in comparision.

 
At 29/5/09 3:31 pm, Blogger Bomber said...

Such a prophet of doom.

I would hate to be a guest at a dinner party at the Bradbury house.

You make your typical Emo look positively outrageously optimistic in comparision.
Look clown, every worst case scenario thrown up by Treasury has come to pass, there ain't no green shoots, the unbridled greed America allowed to create ridiculous loan equations with are crashing back to earth after a decade of being artificially inflated is here, it's now - the denial of what's really going on with the economy and how bad this depression will get is the joke, not my opinion on it.

If you are looking for chirpy and up, there are opportunities to change to a much more sustainable economy via pure necessity but we have a right wing Government in power who won't imagine the Green deal as a solution.

My cynicism is rational, your denial is not.

 
At 29/5/09 4:35 pm, Anonymous Anonymous said...

It was only a matter of time before this ponzi scheme came crashing down.
Luckily I saw the writing on the wall a long time ago and cancelled crap like superannuation and other bullshit like insurance.
Baby boomers have a lot to answer for.
And when these dorks start retiring and claiming these pensions, guess what?
They aint going to be there, and as for me working my ass off to support them, no fkn way, im working just enough to get by.

 
At 29/5/09 4:48 pm, Anonymous Anonymous said...

Your belief that the "Green Deal" is a realistic solution to the recession is not a bit rational and quite a funny joke.

It is just as well that the Greens will never be in any position to implement such nonsense because then we would really be in the shit.

 
At 29/5/09 5:18 pm, Anonymous Anonymous said...

put up that cool picture of don brash and his crown with the white tiger! that made me laugh for ages!

 
At 29/5/09 5:28 pm, Anonymous Anonymous said...

Don't worry Bomber, there is $52 million extra to the military with additional expenditure for the SIS. Just make sure your hikois stay peaceful as there are additional resources available to cope with contingencies.

 
At 29/5/09 6:15 pm, Anonymous Anonymous said...

your are a pinko git !

 
At 29/5/09 6:26 pm, Blogger Bomber said...

I think you meant to say 'you're a pinko git' or 'you are a pinko git', 'your are a pinko git' just makes you look like a bit of a dick Anon.

 
At 29/5/09 7:03 pm, Blogger Tim Selwyn said...

Mr Bradbury, with great speed and volume of output, maintains laudable standards as far as blogging goes - he is an English graduate after all.

Anon, you are an illiterate cock monkey.

I don't want to over-use it, but it seems appropriate in this instance.

 
At 29/5/09 10:03 pm, Anonymous Anonymous said...

Look clown, every worst case scenario thrown up by Treasury has come to pass, there ain't no green shoots, the unbridled greed America allowed to create ridiculous loan equations with are crashing back to earth after a decade of being artificially inflated is here, it's now...and it's on-going and getting worse. The US is no where even near the bottom yet.

http://www.calculatedriskblog.com/2009/05/mba-mortgage-delinquencies-foreclosures.html

The U.S. delinquency rate jumped to a seasonally adjusted 9.12 percent and the share of loans entering foreclosure rose to 1.37 percent, the Mortgage Bankers Association said today. Both figures are the highest in records going back to 1972.
...
The inventory of new and old defaults rose to 3.85 percent, the MBA in Washington said. Prime fixed-rate mortgages given to the most creditworthy borrowers accounted for the biggest share of new foreclosures at 29 percent, and prime adjustable-rate mortgages were 24 percent, Brinkmann said. It shows the mortgage problem has shifted from a subprime issue to a job-loss problem, he said.
Those resets just keep on coming, and with each new wave a new bunch of folks find out that their refinancing gig has left them the proud owners of a shitty big debt backed by an asset that is declining in value. The banks are wanting their money, so interest rates are not your friend, no matter what the fed wants to happen.

That's bad enough, but add in the fact that real wages, they are not growing fast enough to keep up, and employment figures are falling off cliffs all over the joint, and you've got a world of pain and fear for lot's of peeps.

 
At 30/5/09 3:38 am, Anonymous Anonymous said...

WOT?

 

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