First confidence test fail

Winston Peters used his speech announcing who he would anoint as Prime Minister to give a lament about how dismal the outlook is.

We in New Zealand First believe that an economic correction, or a slowdown, is looming, and that the first signs are already here:

– In the housing market slowdown
– In Reserve Bank and trading banks nervousness
– In the cessation of hot money into our economy
– In property ownership concerns
– In receding consumer optimism, and
– In ebbing retailer confidence

There were great risks in whatever decision we made and despite our having had no influence on these risks, some will attempt to heap the blame on us.

That those blame caricatures are both spurious and misplaced, won’t stop attempts to misdescribe the cause of events.

That’s why we are putting this scenario out front, right now, so that such attempts will fail.

No-one can blame Peters and his party for events beyond their control.  But now they’re in government we can hold them responsible for how they prepare for and react to them.

It won’t be ‘misdescribing’ at all to blame him and the government he’s part if they don’t take a prudent approach to preparing for a gathering storm.

National inherited a projected decade of deficits when it came to power in 2008.

New Zealand was already in recession and then the global financial crisis hit.

It then faced other natural and financial challenges including earthquakes, droughts and a dairy downturn.

No matter what was thrown at them, Prime Minister John Key and his deputy and Finance Minister Bill English projected calmness and confidence. They promised to protect the most vulnerable and were open about making tough decisions.

Thanks to their efforts, and of course all those of the individuals and businesses who contributed to economic growth,  the incoming government has inherited a far sounder financial base and outlook.

Peters by sorry contrast has failed his first confidence test with his gloom and doom but don’t-blame-us speech.

This is reflected in a reader survey by the NBR.

Asked if they expected their businesses to thrive, survive or nosedive, 50% opted for survival with 35% picking nosedive and only 15% picking thrive.

That’s not a scientific survey but businesses need confidence to take the risks to invest and Peters has given them none.

3 Responses to First confidence test fail

  1. Andrei says:

    You don’t have to be Einstein to realize that New Zealand as part of the Anglo Saxon West is on the verge of collapse.

    The fact that a total airhead like Jacinda Ardern can even become Prime Minister of this country is a symptom of the our malaise

    This was the featured story on Stuff this morning – Bread and f***ing circuses!!!

    TV is a cultural wasteland and the Churches are closing their doors while their leaders tear themselves apart over whether they should introduce a rite for “gay marriage”.

    My home is filled with technological marvels manufactured in East Asia where the bulk of the worlds population live and over 90% of everything is made and a young man leaving school has no opportunity for an apprenticeship to gain the skills required to work a screw cutting lathe…

    As heirs to a great heritage it is sad to see it squandered

    And do you know something John Key’s fifth National Government did nothing to ameliorate this sad cultural decay or slow the decline

  2. Will says:

    Well said. But I would argue that we are in the process of a collapse that has been underway for a century. Certainly we are circling the drain now. While a man like John Key probably would not be expected to comprehend this, someone like Bill English should.

    Western Civilization, the pinnacle of human achievement, is our inheritance and our children’s birthright. Must we stand by and watch our lands, cultural heritage, social capital and even our very identity, just handed over to competing, alien intruders without so much as a shot fired?

    Look around the world and you will see how jealously other peoples protect and seek to advance their cultures. We’ll trade ours for just a few points of GDP growth. Are we not conservatives? Then what have we conserved?

  3. Andrei says:

    I choked on my coffee

    All the president’s men and women: Trump-like leaders proliferate

    Jacinda Ardern, 37, is New Zealand’s new prime minister. She opposes tax cuts and supports the welfare state, unlike Trump. However, she wants to lower immigration to New Zealand. That prompted The Wall Street Journal to tweet last month: “Meet New Zealand’s Justin Trudeau (prime minister of Canada) — except she’s more like Trump on immigration.” Ardern said she found it “offensive” to be compared to the American leader.

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