Bill Ralston : Outlook bad and will worsen

Bill Ralston : Outlook bad and will worsenAs the weather turns foul and we speed through autumn into sudden winter, so the economy experiences a similar drop in temperature, leaving Kiwis feeling distinctly exposed.
There is now startling evidence of how fast the brakes…
[NZ Politics]

You have to wade through his wholepiece to get to the best part which is right at the end.

[quote]For the next couple of years, expect to see higher unemployment, longer queues for food banks and more mortgagee sales – in short all the usual side-effects of a depressed economy. For Gen X and Gen Y, who have never experienced those conditions, there will be real anger, politically. Even if Labour survives the election it will experience a savage backlash among younger voters.

Cullen’s budget is still to come and he may move swiftly to ease the burden people face, but there has been little evidence of joined-up thinking in Labour’s approach in recent months.

Yes, there is the prospect at some point of some modest tax cuts aimed, according to Cullen, at low income earners. Yes, Helen Clark did decide to delay the implementation of some of the punitive taxes on petrol for a couple more years.

But the majority of mortgage-belt New Zealanders, who languish largely ignored in the hard-pressed middle-income bracket, have little hope of relief. The Government’s ill-conceived emissions trading scheme is set to soak billions of dollars out of households and small businesses and large corporations and agriculture will get a free ride for many years.

This has been a brilliant fair-weather Government, cruising through calm economic times. Conditions have changed yet it seems incapable of changing course. Batten down the hatches, guys, it can only get worse.[/quote]

Bill is being kind, Labour has squandered the good years, blaming anything bad on the previous administration which set up the good years and now have managed to spectacularly tank the economy while they run around reying desperately to anything that might help but showing their complete ineptitude in handling anything other than a household budget or union extorted fee base.

Labour rightly deserve to be smashed out of existance. National are again going to have to undo the damage caused by a reckless over spending government intent solely on self preservation.