Bo-Jangles

Before anyone says it's just an Auckland thing .. there's more ..... totally barmy if they are that desperate to join the queues.

https://i.stuff.co.nz/life-style/foo...donalds-queues

BEVS

Nah! Not an Auckland thing at all.
MrBEVS reported a long queue to be seen at the MacD or Burgerking he drives past on his way back from work. He also said that people had flocked - yes I did write flocked - to Tahunanui beach in their droves with their paddle boards and the like. Car park was chocka. Plus the development site next door to us had several small groups of non tradie people coming for a nosy and a good ole chat with each other. None with the required distancing.

I'm thinking 2nd wave if Team NZ is not careful.

Clappy

I have seen people in the past complain that newspaper (I use that term in the loosest sense of the meaning) was too Auckland-centric and had never really seen that myself but that focus is very clear from these lock-down lifting stories we have seen in the past two days.

Bo-Jangles

I didn't think there was any doubt that the Herald is an Auckland 'paper' I am pretty sure the only people that buy hard copies are businesses, there's one in every office kitchen and smoko room. Christchurch has The Press, Wellywood has the Dominion Post and Otago has the Daily Times

Clappy

Oh no! The fast-food binge has been ruined - MaccyD's has run out of lettuce.
https://www.stuff.co.nz/life-style/f...d-for-fastfood

Justcol

Will it taste any different without a few strands of limp iceberg

BEVS

I clicked on the link for my sins and within the article on the absence of Macca's lettuce leaves I read this.

Chortle

Clappy

Earlier today I made the decision that I would no longer look at the Herald website at all.

I used to take a look at it to see the headlines and find out what the locals were concerned about. I didn't often click-through on a headline to read the whole article but every time I did I instantly regretted it.

I feel so liberated now.

Charismatic

The Government/IRD are going to directly lend money to businesses that can't get a loan from a bank: Link to legislation.

This is such a bad idea, if deployed I will not vote for any party that backed this. It would be wasting taxpayer money, governments should not be making credit decisions particularly in extremely high risk scenarios. You know often legislation is about balance and I can appreciate varying perspectives but this is not one of those times. This is a terrible idea and will end badly. Government departments just don't have the expertise in business lending.

Justcol

Been to busy working to follow the ins and outs
are we still getting our 1500 bucks ?

Charismatic

No, it was just a proposal. Also it would have to be repaid as tax later as it would be funded by bonds.
​​​​​

Clappy

It will be like the 1970s all over again.
My hair is starting to make me look like someone from the 1970s so it seems quite appropriate.

I don't think this move is any worse than the wage-subsidy. Provided that the elimination approach is effective and most businesses can get back to almost-normal in a short space of time then then the economic pain won't last too long because the businesses are still relevant.

The people that can remember the 1970s in the UK will remember the government throwing public money to keep businesses that were in a long-term decline open and we all know how well that ended.

Charismatic

That's my fear, we already have enough zombie companies in New Zealand that "extend and pretend" is not going to be helpful. Also IRD don't have the knowledge or software to run a retail bank.

From what I see the major problem is demand in that we need to compel consumers to spend an additional months salary and the best way to do that is to send them a cheque for about an average months salary.

​​​​​Ideally I'd like RBNZ to credit cheques to citizens accounts regularly to create inflation, unwind QE and normalise interest rates. The conservative old guard neoclassical economists at RBNZ and Treasury have to step aside. ZIRP has been a failure.

jarv5116

I see there reducing the deposit % on house from 20% to 10%.
I think the property market in NZ is crazy anyways.
Way to expensive for property. 600-800k for 3 bed in a not desirable area in Auckland is crazy prices.

Charismatic

Revaluing property has been our countries most profitable industry (much to the chagrin of economists), they had to do something to support prices or millions of people would be underwater on mortgages.