Government ready to smash home buyers

[Imported from Whale Oil Beef Hooked on Blogger]

Confirmation in the Herald this morning that the Reserve bank and Treasury at the behest of broken-arse Cullen are looking at ways to slow down the economy….

Why, on earth would you want to slow a growing economy?

The simplest way to fix the inflation statistic is remove fuel prices from the calculation, because in effect you are counting that twice. Once in the fuel prices and again in the rise of goods with a transport component, which in New Zeland is everything. Get rid of that and all of a sudden no more problem.

Finance Minister Michael Cullen said on Tuesday that he had asked officials to consider ways to slow the economy, but noted that the options were not “exactly attractive”.

What he means by that is not exactly “politically” attractive. He thinks secretly that all the options are positively beautiful for socking it anyone with more money/assets than him. Which going by the last declaration is two fifths of five eigths of fuck all.

One option being considered is limiting the amount banks can lend on a property’s value. Some lenders, including Government-owned Kiwibank, now lend up to 100 per cent of a property’s value.

There has been speculation about options this week including a capital gains tax – dismissed by Dr Cullen – and a review of the amount of capital banks must have to back their lending.

Of course it won’t be a Captial Gains tax, they will call it the “smash greedy rich investors wealth tax” but it will do the same thing.

This morning on RLW News the cat was let out of the bag.


THANK YOU for being a subscriber. Because of you Whaleoil is going from strength to strength. It is a little known fact that Whaleoil subscribers are better in bed, good looking and highly intelligent. Sometimes all at once! Please Click Here Now to subscribe to an ad-free Whaleoil.