Economy Tanking, Labour Fiddling

As expected the economy is tanking. official figures out today show that we are now halfway to a recession with the next quarters results due before the election. Labour will be wanting those figures like I want colon cancer. My bet is that we are days away from an election call that will mean Labour will dodge that quarters figures.

Meanwhile in other news that shows how serious the problem for the economy is both The Warehouse and Briscoes have announced major and significant profit warnings. This is a dire sign for the economy and job losses are imminent. If the Warehouse and Briscoes can’t maintain profits then sure as hell other more expensive box shifters are copping a worse flogging.

Meanwhile all labour can do is suffer Key Derangement Syndrome and make pathetic semantic arguments about who said what when. Meanwhile the rich get richer and the poor get the picture. The picture the poor is getting is that Labour doesn’t care.

No longer is Labour the party of the worker, they are now the party of the marginalised interest groups and then only poofs, teachers and university lecturers. Maori have abandoned them for the Maori party and National leaving Labour bereft of any support except from the Island community.