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Wednesday, October 05, 2011

National Party in Credit Downgrade Wonderland

Is the Government asleep at the wheel while they sleep walk to their opinion poll election landslide? Minister of Finance, Bill English acknowledged that he didn't see last weeks downgrade coming, which is problematic, because the week before that, he was meeting with the credit ratings agencies.

You mean to tell us that Bill met with the agencies and they gave no inkling that they were about to down grade us, how much of a hint does Bill English need? He didn't think them wanting to charge his mini bar bill and pay for all the after dinner pillow mints before he left while searching him for any hotel towels suggested they didn't think he was good for paying back our debt?

How much of a hint does deadbeat Bill need? He didn't think their 'fuck you, pay me' text message to him was a hint they wanted their money back? This is the third time under a National Government that our credit has been downgraded and after one term of National borrowing for tax cuts, our eftpos just got declined.


And how does the PM who has shut down media interviews with Radio NZ, TV3s 'The Nation', Kiwi FM and bFM do on the day the credit downgrade occurs? He refuses to talk politics.

What does a $43 million loan to Mediaworks buy you on Radio Live - apparently an hour of John Key avoiding answering any questions on politics. Why pay Mediaworks $43 million for that, John Key can appear on Close Up and not answer questions for free.

I have been critical over our mainstream media's none ending love affair with Key, it's our first cult of no personality, but Radio Live takes fair and balanced to a whole new level of Fox News crazy.

Radio Live didn't offer any other political leader an hour of free talkback and went on to claim that allowing the Prime Minister to host an hour of radio minus any hard questions at all about his policy isn't political. Which is kinda like arguing that allowing George W Bush to write editorials in the New York Times about his favorite cake recipe during the invasion of Iraq isn't 'political'.

Radio Live say it's because of electoral law that John Key couldn't answer questions on politics, bullshit. Put Key in there for an hour with an interviewer and ask him questions, that would have side stepped those issues, but to give him an hour where he gets to hide behind a 'no politics' zone on the very day our credit was downgraded is simply disgraceful!

This is NZ, not Cuba, the Dear Leader doesn't get to wank on about his personal crap 50 days out from an election. Rather than answer questions about the country going to hell in a hand basket, John Key talked about his cat and his views on Coronation Street moving timeslots.

No wonder the sleepy hobbits love Key so much, with media as uncritical as Radio Live, I'm surprised Key isn't registering 80% support.

With media like Radio Live, why bother with elections?

So the Dow drops another billion points this week as it turns out the debt caused by deregulation low tax Milton Friedman free market dogma that allowed venal corporate greed to crash the global economy in 2008 wasn't sustainable.

Who woulda thunk it.

It all makes the Governments bizarre optimism last week over the economy seem a tad delusional. Last Tuesday Key was bragging in Parliament how great he was and how great the economy was, by Friday the country had its credit rating downgraded. Over the weekend the Government claimed the downgrade wouldn't impact on interest rates, shortly after that claim, Bill English admitted it might.

I've pointed out many times that our multi-millioanire Money Trader lives in an optimistic bubble world removed for the realities of poverty, and his bizarre optimism last week brought that vacant aspiration to the forefront, especially in light of the Reserve Banks warnings that we are in for a long slow grind and the slow down in Australia, our largest trading partner is now being described as a 'super slump'.

John Key must be thanking his lucky stars that NZers are too transfixed on Dan Carters groin to notice the global economy is in meltdown and that all the Government has done to prepare us for the financial tsunami coming our way is to provide a small umbrella on the beach.

You vote for vacant aspiration clowns, you get vacant aspiration clowns.



At 5/10/11 10:59 am, Blogger keirwi said...

Hey Bomber - When are you going to enter politics mate. Time to get off the sidelines mate. You'd get my vote!

At 5/10/11 11:01 am, Blogger Frank said...

If, as it seems, National is destined for a secondf term - it will be their last.

Even "vacant optimism" runs out eventually. And nothing focuses the self-centered mind of Baby Boomers like their mortgage repayments.

Which will be going up, as the credit downgrade flows into the money we borrow (and are required to repay) from offshore.

At 5/10/11 3:08 pm, Blogger countryboy said...

Key's not stupid ! Don't think for a moment he is . Neither is english . So , what's going on then ? Who's got us by the short and curlys ? Why all this fuss ?
I think the Regime is failing . I think the neo liberal greed machine has feasted and now , replete , it needs to sleep it off . I think all the money that was to be made from selling us out , into debt and appallingly , into poverty has been made and now steps are being taken to cover the tracks leading from the crime scene . From the late 1960's to the early 2000's agriculture was seen as expendable , worthless and the participants of agrarian enterprises were demonized as sheep shaggers or red neck shit kickers in gumboots and black singlets . Now , suddenly , agriculture is the new black ! Cows are coming to save our skins ! Wool is experiencing new interest ! What a load of wank ! What a complete con job ! Agriculture has always been N.Z's primary export earner so why was it allowed to fall into such a dismal , life or death struggle ? Argue down it's importance then pillage the fuck out of it perhaps ? I could answer that question further but I won't so there . If you're truly curious , you can find out easily enough . I believe the reason for all this fucking about is because there are those wealthy and powerful few who are shitting bricks that the truth's on it's unstoppable way out ! There are billions of NZ dollars missing and we shouldn't have to worry about a thing . Instead , we've been sold the idea of borrowing to live within a false economy , have been conditioned to not ask questions for fear of being ridiculed by a bias media and we'd rather fight each other in the streets than fight FOR each other in the streets . By the way ... You Tumeke people ... Tch ! I don't know much but I do know you guys are pretty fucking good !

At 5/10/11 4:48 pm, Blogger Nitrium said...

The "spend now and austerity later" perscription promulated by our Dear Leader (and indeed Western leaders everywhere) MIGHT maybe have worked (if you believe that politicians would ever willingly undertake austerity, which history shows us they don't) IF we were not at DEBT SATURATION. Since we are at DEBT SATURATION the system will not respond to more debt. Therefore, positive effects from more Government deficit spending will not occur past the short-term effect directly from the spending itself - i.e. there is no multiplier now for deficit spending because deficit spending only works when it lures in other money to be combined with it. This cannot happen at debt saturation. John Key is in reality a bankster idiot, but presumably everyone reading this on this site knew that already.

At 5/10/11 7:18 pm, Blogger AAMC said...

my suggestion is we propose some Austerity and Cuts.

For a start, lets make some cuts to holiday highway projects, then we could cut additional spending on additional party zones, we could cut corporate welfare to media organizations, cut the amount of security around the PM, cut his helicopter limo trips, cut our subsidies to polluters, and I'd really like to see us cutting our underwriting of externalities for all of those corporations. We could also cut spending on new prisons, because with all the money we save, we can invest in job creation and education, which will result in less requirement for prison beds.

Yep, I'm getting into this Austerity business..... except it's never exercised against the looters is it, just against the "big society" who are expected to bail them out.


At 8/10/11 12:28 am, Blogger Frank said...

Fyurther to the double credit downgrade is National's recent f**k-up over the Bank Deposits Scheme.

I do believe I've caught out Key and English telling fibs; http://fmacskasy.wordpress.com/2011/10/07/have-treasury-and-the-p-m-been-caught-out-lying/


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