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517 posts

Ultimate Geek
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  # 1971366 8-Mar-2018 19:03
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MaxLV:

She (Amy Adams) seems to have forgotten what her predecessors, who she deified, inherited when they (John Key and Bill English) came to power in 2008.


The debt was at just five and a half percent of what the country was worth, or GDP, down from 23 percent, and they grew it to around 30 percent, at one point borrowing $380 million a week.


Okay so they had the global financial crisis to cope with and the earthquakes but they also inherited the China free trade deal, signed a month before they came to office. Slashing debt didn't stop the Clark Labour Government breathing life into the ACC corpse and setting up the Cullen fund, now worth around $40 billion without contributions from National.


Perhaps rather than harping on about the balance sheet, Adams should focus her attention on a more balanced society.


http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12008408



I don't know how many people actually think about it, but obviously not that reporter. If the government has no money spare then they can't contribute to the super-fund. Labour supporters tout the increase in debt under National's reign as a sign of failure, but does it make sense to borrow money to contribute to a super-fund? No. Furthermore, had they increased debt to do so, it would have only increased the criticisms of labour supporters. You're damned if you do, and you're damned if you don't.

bmt

473 posts

Ultimate Geek


  # 1971410 8-Mar-2018 20:40
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networkn:

 

 

 

Amy Adams to Finance Spokesperson. Not sure how I feel about this. As far as I can see, no real finance credentials. It's an area that National supporters would expect a strong performance in. I hope she is up for it. 

 

I am surprised by Joyce actually. He must have known that his leadership bid was an all or nothing situation. I am surprised he ran. I wonder who he had in the back of his mind for Finance, unless he was intending to keep it. 

 

 

Strange sentiments considering Steven Joyce's credentials for Finance Minister were non-existent! Failed economics at uni anyone? LOL


 
 
 
 


624 posts

Ultimate Geek


  # 1971516 9-Mar-2018 08:42
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bmt:

 

Strange sentiments considering Steven Joyce's credentials for Finance Minister were non-existent! Failed economics at uni anyone? LOL

 

 

 

 

Say what you will about his university career, however he built a very successful large company and was heavily involved in the financial side of the operation. He was very tough but fair to deal with.


83 posts

Master Geek


  # 1971517 9-Mar-2018 08:46
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bmt:

 

networkn:

 

 

 

Amy Adams to Finance Spokesperson. Not sure how I feel about this. As far as I can see, no real finance credentials. It's an area that National supporters would expect a strong performance in. I hope she is up for it. 

 

I am surprised by Joyce actually. He must have known that his leadership bid was an all or nothing situation. I am surprised he ran. I wonder who he had in the back of his mind for Finance, unless he was intending to keep it. 

 

 

Strange sentiments considering Steven Joyce's credentials for Finance Minister were non-existent! Failed economics at uni anyone? LOL

 

 

Built a startup and sold it for 6 million. Saw some employees rave about him on Stuff comments section about how he knew each one of them by name and Radioworks was a great place to work until he was there.


774 posts

Ultimate Geek
Inactive user


  # 1971518 9-Mar-2018 08:49
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bmt:

 

Strange sentiments considering Steven Joyce's credentials for Finance Minister were non-existent! Failed economics at uni anyone? LOL

 

 

 

 

Snigger all you like, but building a successful multi-million dollar company employing hundreds of people trumps academic indifference more than 30years ago...

 

What were our *current* Finance Minister's credentials again?   Oh, that's right, a Bachelor of Arts, with a dissertation on 1980s Student Politics.

 

 


bmt

473 posts

Ultimate Geek


  # 1972139 9-Mar-2018 20:39
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Imagine if making $6m+ from the sale of a business alone made you eligible to be Finance Minister. We'd have hundreds of candidates, if not more! 

 

Let's compare Robertson vs Joyce then:

 

  • BA (hons) in political studies
  • Head Boy at high school
  • President of Otago Uni Student's Association
  • 4 years experience at MFAT
  • Ministerial advisor
  • 10 years as an MP

vs

 

  • BSc in zoology
  • Failed 8/11 economics papers taken
  • Made $6m from sale of media company after 17 years of ownership
  • CEO of travel media company for 2 years
  • National campaign manager/straight into cabinet on election
  • 2 driving convictions

517 posts

Ultimate Geek
Inactive user


  # 1972182 9-Mar-2018 23:25
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bmt:

Imagine if making $6m+ from the sale of a business alone made you eligible to be Finance Minister. We'd have hundreds of candidates, if not more! 


Let's compare Robertson vs Joyce then:



  • BA (hons) in political studies

  • Head Boy at high school

  • President of Otago Uni Student's Association

  • 4 years experience at MFAT

  • Ministerial advisor

  • 10 years as an MP


vs



  • BSc in zoology

  • Failed 8/11 economics papers taken

  • Made $6m from sale of media company after 17 years of ownership

  • CEO of travel media company for 2 years

  • National campaign manager/straight into cabinet on election

  • 2 driving convictions



The key difference, which incidentally makes Joyce immeasurably more qualified, is the business experience. And there's no substitute for experience. When you're finance minister understanding business is a non-negotiable. If Robertson has had no real business experience, I cannot reconcile that with his ministerial position.

 
 
 
 


1382 posts

Uber Geek


  # 1972224 10-Mar-2018 09:47
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MaxLV:

 

She (Amy Adams) seems to have forgotten what her predecessors, who she deified, inherited when they (John Key and Bill English) came to power in 2008.

 

The debt was at just five and a half percent of what the country was worth, or GDP, down from 23 percent, and they grew it to around 30 percent, at one point borrowing $380 million a week.

 

Okay so they had the global financial crisis to cope with and the earthquakes but they also inherited the China free trade deal, signed a month before they came to office. Slashing debt didn't stop the Clark Labour Government breathing life into the ACC corpse and setting up the Cullen fund, now worth around $40 billion without contributions from National.

 

Perhaps rather than harping on about the balance sheet, Adams should focus her attention on a more balanced society.

 

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12008408

 

 

Counterpoint: The massive (deliberate) clean out of the surplus in the 2008 budget, the hugely inflated price paid to Kiwirail (which has required ongoing major investments), the mind-boggling refusal to shift the tax brackets to account for inflation in their entire term, the disastrous effect of rental subsidies on the private rental market, etc.

 

Also, ACC ran at a $4.8bn deficit in 2008 - 2009, just for balance's sake.  


5385 posts

Uber Geek


  # 1973046 12-Mar-2018 11:01
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6FIEND:

 

What were our *current* Finance Minister's credentials again?   Oh, that's right, a Bachelor of Arts, with a dissertation on 1980s Student Politics.

 

 

Don't forget doing worse in the OUSA president election than a cat.  I personally voted for the cat, unfortunately it was disqualified - due to species-ist OUSA election regulations.





Mike

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