I was listening to Leighton Smith's talkback yesterday morning as several people attempted to argue that the recovery from the Christchurch earthquake will be a great thing economically. Like some sort of bizzare stimulus package.
What a load of bollocks.
Our economy has taken a massive hit. We will be expending a huge effort and considerable cash just to get us back to the status quo. That means missed opportunities elsewhere. Opportunities that can create new wealth.
The argument that the re insurers will be stumping up for the cost is ridiculous. They are in business for pppppprofit. If they take a hit here then they will be looking to eventually recoup their losses by raising our ppppppremiums.
The people who propose this nonsense are amongst the useful idiots of the world. Pushing a mickey mouse form of socialist economics that you can create wealth by simply recirculating money though an economy, like Len Brown's miraculous ticking over theory. In truth it is an ever diminishing circle with the idiots taking their cut each orbit.
Sometimes I wonder if the end result of Western thinking is actually perfected stupidity.
It will be very interesting to compare the recoveries both here and in Japan.
I suspect that while the Japanese will quickly rebuild and get back to creating wealth, we will still be arguing about what colour paving stone to use ......
not to forget antismacking legislation, ETS's, carbon taxes, global warming, seabed ownership, local body empire building, middleclass welfare, Ministries of blithering idiots, policy consultants.......
July 26 in history
5 hours ago