The loaded bias and utter stupidity of Newshub

Newshub are running a story by Dan Satherley on wealth in New Zealand. In writing his story he reveals his political leanings with his overly emotive language.

He also reveals his utter foolishness and lack of intelligence in analysing information.

It is an article seeking to reinforce that there are disparities in NZ society and how wrong that is.

The richest 10 percent of Kiwis have hoarded more than half the country’s wealth, with the bottom 40 percent scraping by with only 3 percent.

And the gap between rich and poor has widened in the last decade, the new figures from Statistics NZ show.

“Hoarded”? Where is his evidence that the wealth has been “hoarded” by those evil rich pricks? This is highly pejorative and overly emotional.

As of June 2015, the average household net worth was $289,000 — but one in 20 households owe more than they own.

Houses make up the bulk of most families’ non-financial assets, accounting for 59 percent. Mortgage debt accounts for more than 60 percent of their liabilities, however.

“Nearly three in five New Zealand households living in their own home had a mortgage, with a median mortgage value of $172,000,” says labour market and households statistics senior manager Diane Ramsay. “Overall, for every $1 of assets they have, New Zealand households have 12 cents of debt.”

So, in stark contrast to the wailing from the opposition, 60% of Kiwis live in and own their own home. That’s a good statistic. Even better, they only have 12% debt. That is hardly burdensome. A debt burden of 30% is considered onerous.

Inequality is stark between ethnic groups.

  • European/Pakeha have a median individual net worth of $114,000
  • Asian, $33,000
  • Maori, $23,000
  • Pacific, $12,000.

Even accounting for the younger populations found in Pacific and Maori families, the inequality remains, says Statistics NZ.

And? What are they trying to say? Take money and assets off whitey and give it to brownie?

Young people — between 15 and 24 — had the lowest net worth, averaging $1000. This is largely down to student loans.

No, it doesn’t mean that at all. Young people have been studying and not working so, of course, they don’t have any wealth. They’ve only got started in life. If they are a feral low-life though, they have probably impoverished themselves further by having 6 or more children. This claim is ridiculous…and again, what is the point of it? Are we going to take assets and money off older people and give it to these young fools so we can have a more equal society?

Between 2003 and 2010, the top 10 percent had around 55 percent of the wealth. This has expanded to 60 percent over the last five years.

So what? Don’t be poor. At least in NZ, you can still make that choice.

This article by Satherley just shows, clearly, his own socio-political biases.

 

– Newshub


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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