Sunday, October 12, 2008

Don't worry Auntie Helen makes you feel safe

Yes, what an image. Helen Clark, in an attack of "me-tooism" has guaranteed all deposits in NZ banks with - your money. Yes, makes you feel so much better doesn't it?

You see, Auntie Helen and Uncle Michael don't have hoards of money stashed away that they earnt from some great endeavour. No, they have your money and your children's money they can take - unless they change the Reserve Bank Act and start increasing the money supply (ohh how tempting that may be for them) and inflation.

Pity at least a quarter of the public is too dumb to know better.

Now to be fair, NZ banks are sound enough for this to be only a little more than a stunt - well, unless you think attracting foreign deposits to NZ (like what has happened in Ireland) isn't a risk for NZ taxpayers - but what is most grating is how Clark is characterising the global financial crisis.

Clark has used what has essentially been a collapse of speculation on property markets fueled by loose monetary policy as a chance to throw some supercilious bile against free markets - of course she would - she's never been a friend of the market economy, whether it be her past in picking coffee beans for communists, her declaration that "the state is sovereign" and her long standing willingness to nationalise (rail and Air NZ) and monopolise (ACC) regardless of what consumers or producers want, demonstrates how much she sees this as a chance to rub her hands and tell the gullible how much they have to feel secure - she's in charge.

It is, of course, banal nonsense. This government has wasted much money, has raised taxes (and only just lowered them), and increased spending of your money year on year well beyond inflation. To say your money is secure because of the government is like saying that the mafia keeps it secure, in exchange for that hefty payout Leftie strongarms from your pay packet every fortnight.

Look at what she wants to borrow from your children to pay for:
- A railway line from Marsden Point to Whangarei. A project so lousy that the local authorities wont risk ratepayers money on it, the profitable port company wont waste its shareholders' funds on it and no other investor thinks it's a good idea (and it has an economic benefit/cost ratio of less than 1, meaning it's as crazy as any Muldoonist scheme);
- Upgrading schools - regardless of whether it will generate better educational outcomes, but it employs the building industry (which had such a hard time didn't it?);
- Back country refforestation- probably on land you own through the state and regardless of whether it's a good idea. More blue collar jobs to vote Labour though, right?

However the look at what the PM thieving bitch had to say about those who responded to the monetary supply provided by governments and to those members of the public who sought to maximise their own welfare from the property bubbles:

"A curtain is being drawn on the era of the free-wheeling unregulated money traders and financiers whose greed has shaken the international financial system to its core. Co-ordinated international action will be needed to ensure that the greed merchants don't ever again get the chance to destroy the lives of ordinary people in real jobs trying to put food on the table for their families"

What are you Helen? An ordinary person in a real job? Since when was it unregulated? Who is responsible for the money supply? Who borrowed self-certified mortgages of up to 120% of property value Helen?

Go wage your class war somewhere else - you don't produce anything Helen Clark - everything you give has been taken by force from someone else.

No comments: