Archive for 14 July 2012

Dear Leader’s Mighty Lie?

14 July 2012 2 comments



In March of this year, this,

That’s what we are working our way through at the moment. But the intention is for that retail distribution, that opportunity for mums and dads to buy, to be absolutely front of the queue. They’re my number one priority.”

“We’ve made it absolutely crystal clear what our intentions are..If it comes to mum and dad, and they want to buy 1000 shares or whatever…I want to make sure they get their allocation, they’re not scaled and they’re at the front of the queue. “

See:  Key: No referendum on asset sales

And this in June,

You can’t and wouldn’t want to stop them – but the question you have to ask yourself is why would they go and do that?   The question comes down to, why would a foreigner find an investment in Mighty River Power to be far more attractive on the long run than a retail investor sitting in Karori? And there’s no logic that they would. “

See:   Can’t stop asset shares being sold overseas – John Key

Had become this, two days ago,

Mighty River Power shares could be listed on stock exchanges on both sides of the Tasman to boost investment from Australian institutions, making shares more expensive for Kiwi investors…

… The joint lead managers – investment bankers helping Treasury arrange the sales – are understood to be pushing for a dual listing, with Wellington-based NZX as the primary exchange and a secondary listing on Sydney’s ASX.

… However, the Government has repeatedly said it wants to encourage a high level of local ownership, which it expects to be 85 to 90 per cent.

State-Owned Enterprises Minister Tony Ryall would not discuss the issue, saying no decision had been made on an Australian listing. “

See: Dual listing may hit Kiwi investors

Aside from the breath-taking deception that National and John Key are about to foist on this country, there is an irony here that in June, John Key was assiduously trying to reassure the punters that Kiwi “mums and dads”  would be first in the queue to purchase shares.

Key even tried to find reasons why those “mum and dad investors”  would not on-sell their shares to foreign investors, saying, “the question comes down to, why would a foreigner find an investment in Mighty River Power to be far more attractive on the long run than a retail investor sitting in Karori”?

Now we learn that the shares may be listed in Australia?

Perhaps Key is targetting “mozzies” and their “aunties” on “The GC”?!

Key is well known for saying one thing to one audience, and something completely different to another.  This time, he will have been well and truly caught out if shares are listed on the Australian stock-exchange, for Australian investors.

What are the odds?

My money is on another Mighty Lie from Dear Leader.






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On course for a change in government…

14 July 2012 6 comments



… by 2014, if not earlier.

The latest Roy Morgan poll has National continuing to fall,


NZ Newswire

National down, opposition up in new poll

NZ Newswire July 13, 2012, 8:17 pm

A new political poll suggests the result of an election held now would be too close to call.

The governing National Party was at 45.5 per cent support in a Roy Morgan Poll taken between June 25 and July 8, down 2 per cent on the last poll taken between June 8 and 24.

The only other parties above the 5 per cent threshold were Labour, up 0.5 per cent to 32.5 per cent, and the Greens, up 1 per cent to 13 per cent.

This put the combined total of Labour and the Greens at 45.5 per cent, the same as National, making it a tight race to decide who had the keys to the Beehive.

NZ First was up 0.5 per cent to 4.5 per cent, the Maori Party was at 1 per cent (down 0.5 per cent), while ACT, United Future and Mana were all unchanged at 0.5 per cent.

Meanwhile, the Roy Morgan confidence rating was unchanged at 117.5, while 51.5 per cent of New Zealanders saying the country was heading in the right direction compared to 34 per cent saying it was heading in the wrong direction.

Economic issues (52 per cent) were regarded as the most important problem facing the country, well ahead of social issues (19 per cent), Government and public policy issues (12 per cent) and environmental issues (6 per cent).

The telephone poll surveyed 1026 people.



This does not surprise me in the least.

Since National’s lurch to the right after the last election; various scandals; stagnant economy; high unemployment; unpopular dodgy deals; and even more unpopular asset sales, National has been in political free-fall.

The drop in their polling is slow and miscule – but incrementally it will be the undoing of  National in power.

I’ve been preparing for a change of government since the last election. By 2014, the Nats will have dropped to around 38 – 42%. They are goneburger. The public are beginning to tire of radical right wing policies – many based on nothing more than ideology – whilst still seeing unemployment stubbornly high, and the economy stagnating.

More than that, as news of redundancies fill media stories, Middle New Zealand is now facing their greatest fear; the prospect of losing their job, and dropping down the socio-economic ladder.

More than one middle class professional has found him/herself losing their job and ending up on the dole.  Only to find that the dole does not pay as much as their prejudices suggested. How often, I wonder has a recently redundant salaried professional remarked,

$204.96!!! Is that all I get?!?! How do people live on that???”

When the realities of a recession start to get in the faces of the Middle Classes – that’s when governments change. Usually to the Left.

France, Iceland, and Mexico’s recent elections seem to indicate that voters are turning away from market-driven, centre-right parties. What the Occupy! movement could not achieve by occupation, they may be still be influencing voters and gaining victory through the ballot box.

New Zealand’s time to throw out National and replace it with a more pro-active government will soon be upon us.

The big issue is, now, is how many of our State assets can the thieving buggers flog off in the meantime?

And can Labour and David Shearer begin to present themselves with an alternative vision of something better for New Zealand as a whole?



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