Bloomberg: New Zealand in recession as coronavirus lockdown hits economy
* The country fell into its deepest economic slump since the Great Depression in the second quarter as Covid-19 restrictions paralysed business activity
* But the 12.2 per cent drop in GDP is unlikely to dent Prime Minister Jacinda Ardern’s chances of winning a second term in the October 17 election
New Zealand suffered its worst economic slump since the Great Depression in the second quarter as a strict nationwide lockdown to combat the coronavirus brought the country to a standstill.
Gross domestic product plunged 12.2 per cent from the first quarter, Statistics New Zealand said on Thursday in Wellington. That is the biggest three-month contraction since quarterly records began in 1977.
Economists had forecast a 12.5 per cent decline. From a year earlier, the economy shrank 12.4 per cent, the most recorded in comparable official data dating back to 1955.
Read more ....
Update #1: Covid pushes New Zealand into worst recession in years (BBC)
Update #2: New Zealand enters recession amid record drop in GDP (DW)
WNU Editor: The experts are calling this a technical recession and will be over very soon. I doubt it. New Zealand is heavily dependent on tourism, and I do not see people flying around as tourists for the next year or two.
17 comments:
Might fly around for cheaper flights. Also, this is a time, where a marketing major shines and is desperately needed. The marketing majors and ad men have to clean up the messes of people like Jacinda. Very noisome indeed.
I think what we must do now first and foremost, to support our friends in New Zealand, is to talk about white patriarchy and hope evil of a country the USA is.
I think this should all be discussed in length, perhaps with some riots and looting to underscore the message of our justice.
But let's not ever talk about where this virus came from. No discussion of the CCP please. Unless it's a compliment on how well they and the WHO handled this pandemic. Especially those informative, totally not scare- mongering videos they broadcasted of trucks spraying entire streets and cities, as if this was a nuclear attack, it was so serious. We should thank them that we, the World, only lost about 10-12 trillion by end of next year.
A few trillion here and there among friends, who counts? It's not as if the Chinese had been stealing from the World in the trillions prior to all of this.
So let's help New Zealand by having a long long discussion about their racism over there. And after all, they were close to a former prison colony, so they seem to be guilty somewhat just by proximity.
We should also talk about gender equality next over there and how we can end the suppression of the poor, poor women by these toxic males!
I think what would help new Zealand most of all are some crippling laws that by law force every company to hire females into their board rooms.
And by every company I mean only the good companies, the wealthy ones. We don't want women by law to pick up 50%of the slack in the sewers. Women are equal but still better than the rest of us, and we better all learn this lesson soon. Or else.
I cannot tell if you are being sarcastic or not
9:46 is using doublespeak or newspeak from 1984 to lampoon liberals and doing a pretty good job at at it.
I do not know if 9:46 is from Canada,, US,Australia or Western Europe or a troll intended to get people riled up. If it is the latter no extra kindling is needed. It won't make a difference. we are pretty much pissed off and a civil war is coming with or without Russia or Chinese help.
When Podesta and company wargame that they will riot if Trump wins unless we get rid of the electoral college, make DC and Puerto Rico states and give the Democrats a lock on the Presidency, Senate and house for future elections, there is nothing we can do except turnover our house to BLM, give our wealth and jobs to Democrats and voluntarily march into concentration camps or fight.
I ran this search on google.
podesta wargame election site:rushlimbaugh.com
Google came back with this result
Your search - podesta wargame election site:rushlimbaugh.com - did not match any documents.
Suggestions:
Make sure all words are spelled correctly.
Try different keywords.
Try more general keywords.
Try fewer keywords.
"Well, there’s any number of things they can do. Let’s say — and these are not out of the realm of possibility. Let’s say they win the White House in this upcoming election, and let’s say they win the Senate. That means they would have it all. And with John Roberts at the Supreme Court, they would have all three branches. And how we gonna win in four years? What are they gonna do in the next four years to make sure that what we do is irrelevant? Well, grant statehood to Puerto Rico and Washington, D.C. Four brand-new Democrat senators.
Next thing they will do is get rid of the filibuster in the Senate, which means say good-bye to needing 60 votes to do anything. All you need is 51. So four now permanent Democrat senators from D.C. The Republicans don’t exist there. And two permanent senators from Puerto Rico. The Republicans doesn’t exist there. Added to whatever number they’re gonna have, minus the filibuster, and they run the Senate."
https://www.rushlimbaugh.com/daily/2020/09/17/how-the-left-will-eliminate-meaningful-elections-if-democrats-win/
Rush didn't go where Glen Beck went.
We need the full report on the Democrat Wargaming.
Especially the part where they resort to riots until their demands are met, if Trump wins.
Assange lawyer says she saw Trump ally offer to arrange pardon | Reuters
Virus Pulls Down Trump, Poll Shows, and G.O.P. Senators Suffer With Him
A New York Times/Siena College survey showed Joe Biden leading President Trump by wide margins in Maine and Arizona, and effectively tied in North Carolina. Susan Collins trailed her Democratic rival in Maine’s Senate race.
Now former national security advisor H.R. McMaster turns on Donald Trump accusing him of making U.S. 'less safe' from terrorism with Afghanistan withdrawal plan and 'cheapening' lives of fallen troops
Donald Trump slams Joe Biden for using a teleprompter while using one himself at Wisconsin rally as he declares 'gloves are off' in 2020 election
President Donald Trump criticized Democratic rival Joe Biden for using a teleprompter while using one himself during his Wisconsin rally
'I'm watching what they're doing with Biden where he's using teleprompters'
Trump was using a teleprompter during his remarks
Shitty Parrot posted at 12:21, 12:24, 12:27, and 12:29.
I think Democrats are worried about the polls when Nancy Pelosi, Italian Duchess of the Bay area and daughter of Graf von Baltimore, came out and said rioters must be punished.
Riots had only been going on for 3 months and 2 weeks and only now did she race to podium to stand in front of cameras to gravely intone that the rioters must be punished.
Internal polls must be quite damning.
What I wonder is when the US goes to war with China, if dual citizen bugs out to Israel instead of serving in the US army?
Have you served, anon?
if not, why worry about dumping your dna shit acquired nonsense on others?
Trump did not even have to leave the country to skip Nam draft
You evaded the question.
What will a person with dual Israeli-US citizenship do, if the US and China go to war?
Give up their US citizenship and rejoin the Israeli Army? Or just get special dispensation, because they are or were a serving member in another army?
I have a relative, who was a dual citizen. The army found out and gave them a choice. That relative dropped their non-American citizenship.
Anywho, you claimed that your kid had dual citizenship. So I wonder what they will do. I especially wonder since we got an earful, when the other person posted. I would not bat an eyelid if we all learned that you taught critical race theory to your children. So it really makes me wonder, if they would help defend the country against China.
My bet is that they skedaddle.
On Trump. You voted for Bill Clinton. I voted for Trump based on illegal immigration (illegal), tax rates, and fair trade. You voted for Clinton 1st, so why should I not vote for Trump. Besides Billy Clinton led anti-war rallies during war in a foreign country. I will compare Trump to Clinton any day of the week.
My stance on tax rates is informed by economics courses in college and also my calculus courses and not envy of others, penus envy, or all the different envies that liberals labor under.
Assange lawyer says she saw Trump ally offer to arrange pardon
Some dumbshit posted the above, when they should have posted the link below.
Confirmed at Trial: President Trump Offered Julian Assange Deal If He Shared Who His Source Was for Podesta Emails — And It Wasn’t Russia!
I can only assume dumbshit is still bleating "But Wussia!"
Why Rudeness Is So Contagious
Tourism is roughly 8% of the NZ economy.
It supports low to low/middle incomes in the provinces.
They’re feeling the heat the most.
Balancing that out is that a lot of the people affected were on temporary visas.
Inbound tourism hasn’t taken off (winter didn’t help) because most normal kiwis quickly discovered it’s bloody expensive to be a tourist in your own country.
There’s been a wage subsidy that ended last Wednesday, only in the next month will we really see how badly things are.
Normally, when the government wants to ramp up the economy they open up the borders. However NZ is facing its first population decrease since 2013 - just 800 people came into the country April - July.
At the end of the day NZ is a food making country (sure, a bit of tech in there as well) and this will keep the place going.
In truth the harsh lockdown has helped. I’m no Jacinda supporter but for the most part the we all knew we had/have to make a sacrifice to get through this until a vaccine appears.
As for me...mid year was tough, the next two months will be potentially tougher, but if we keep our borders tight then we’ll get through.
As for the comments about marketing, I was one of those people that did the marketing for NZ, I’m proud of the work I did. The biggest barrier will be air travel and the two week quarantine. But, as a (mostly) CV19 free country I’d be bold enough to suggest we are in a fantastic position.
We’re just lucky to have dodged some bullets along the way.
Fred posted at 3:29 with no self awareness or sense of irony.
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