Wednesday, January 26, 2011
Selling the Family Sil... woodshed.
So. Our delightful and eternally chirpy Prime Minister, Smilin' Johnkey, has given his State of the Nation speech. On the same day Bazza Obama gave his. I don't think that Johnkey stole any of Bazza's thunder, though.
Johnkey came out with a few startlingly *new* and *original* ideas, though: let's flog off the Family Silver! No-one's ever thought of this before, and he is to be commended for his brave and forward-looking thinking. He reckons he can raise a few billion bucks by selling off 49% of a couple of our energhy generators, and of our state owned solid energy mining company.
Johnkey, craven fool that he is, reckons these assets will, of course, be immediately snapped up by ornrey New Zulnd Mums and Dads.
Hm. Newsflash, Johnkey: ordinary New Zealand Mums and Dads can't afford to buy shares. It's the extraordinary ones who can: the top 15% of our population who actually have spare money. 85% of us don't. And those who do will buy the stock, and sell it the moment Mr Bigcash from Norway or Canada or Germany comes along and offers them a 10% premium.
And when someone own 49% of the stock in a business, they get to have a seat on the board. That means they get to talk to politicians. That means that, in a couple of years, the government will sell what's left... and more money will be shuffled off-shore, and more jobs will be shuffled off-shore.
I wish that Johnkey could be shuffled off-shore. The man's a trollop, and should do well servicing the johns on Wall Street.
Reading: still on the same. No time for reading right now. Sob.
Listening to: Them Crooked Vultures. Hmm. Not bad at all.
Picture is: new Zealand's oldest union hall. It's on the outskirts of Greymouth, I think.