Thoughts on rioting

We had a work party last Friday evening. It was a fairly restrained affair, as festive season work parties go. We were a mixture of ages – but as the evening progressed, oldies began to dominate the music selection.  At one stage, we found ourselves listening to “House of the Rising Sun “a big hit in 1964 for the British band, The Animals.

Well, would you believe it? It emerged that one of our number had gone to school with Eric Burdon! And that her gran and Alan Price’s gran had been friends, in Newcastle, way back when! For those too young to know, Burdon became synonymous with The Animals, but Price had been the original founder, later leaving to start another band, more conventionally, if less modestly, named The Alan Price Set.

My memory of the latter band was limited to a couple of strangely memorable tracks, “Simon Smith and the Amazing Dancing Bear”, and “The House that Jack Built”. Our Geordie friends, however, were insistent that, in their part of the world, Price is better known for his 1974 ballad, “The Jarrow Song” – so I had to check it out.alan-price-jarrow-song-warner-bros-3

https://www.youtube.com/watch?v=198t_7lOjpg

It’s not great music, I’m sorry to say – but its cheery tune contrasts somewhat incongruously with its subject: an event that took place in October 1936 during the Great Depression, when two hundred men from Jarrow in the north-east of England, marched 500 km to London to draw attention to the plight of their families and fellow citizens in a town where unemployment had reached 70%.

Ellen Wilkinson, the local MP, later wrote that Jarrow at that time was:

“… utterly stagnant. There was no work. No one had a job except a few railwaymen, officials, the workers in the co-operative stores, and a few workmen who went out of the town… the plain fact [is] that if people have to live and bear and bring up their children in bad houses on too little food, their resistance to disease is lowered and they die before they should.’” (The Town that was Murdered, 1939)

The Jarrow marchers, in a gesture remarkably peaceful given the circumstances, presented a petition to the British Parliament – who more or less ignored it, possibly demonstrating that peaceful protests rarely achieve much in the way of meaningful change. Perhaps more surprisingly, the British Labour Party at the time refused to support the march for fear of being branded as Communist-sympathisers. Clearly, attempting to bring about change by working through the system has its limitations too.

BBC History writes that, “In Jarrow, a ship-breaking yard and engineering works were established in 1938 and the Consett Iron Company started a steelworks in 1939. However, in areas such as Jarrow the depression continued until World War Two, when industry prospered as a result of the country’s need for rearmament.”

Which exemplifies an important but often overlooked benefit of war in a capitalist economy.

Battle of Cable Street

London bobbies protecting pre-Fascist demonstrators, Cable Street, October, 1936

While doing a little background research on the Jarrow march, I came across a contemporaneous event: the Battle of Cable Street. Sir Oswald Mosley, a former Conservative MP in the British Parliament – later switching allegiance to the Labour Party – was an enthusiastic supporter of Benito Mussolini and Adolf Hitler, and apparently saw Fascism as the way forward for Britain. He founded and financially supported a para-military group, the Blackshirts, modelled on similar groups in Italy and Germany.

On October 4, 1936, he organised an event of his own, gathering 5,000 uniformed Blackshirts to march from the Tower of London to the poorer districts in the East End. Al-Jazeera writes that, On the day of the march, the response was the mobilisation of the immigrant communities of the East End, together with British trade unionists and leftists, to stand against Mosley with barricades, bottles, bricks and fists.”

They were met by “thousands of policemen, including many on horseback, swinging batons as they charged the crowds” since Mosley “had official permission to stage his demonstration.”

Daniel Tilles, a historian and specialist on British fascism in the 1930s, has written that “On the day itself, it was a great victory for the anti-fascists, who greatly outnumbered the Blackshirts and stopped them from marching through the East End of London.

“But Mosley’s deliberate aim had been to provoke counter-violence to what was a lawful demonstration. In a way, he got exactly what he wanted. It allowed him to portray what happened as immigrants, aliens, violent communists stopping British citizens from exercising their lawful right to demonstrate.

“In the months after Cable Street, British Jews suffered far greater violence, intimidation and abuse than they had beforehand, So Cable Street unleashed this wave of anti-Jewish violence and abuse and gave the fascists a boost in popularity.”

A well-tried technique of those in power: provoke a violent incident, then use it as a reason for forcefully suppressing groups expressing dissenting views.

Similar occurrences took place in New Zealand during the 1930s, although the Labour Government there, elected in 1935, still retained some remnants of a commitment to relieving the suffering of the poor and unemployed.

soup kitchen

A soup kitchen feeding unemployed men during the Great Depression in NZ

Predominantly a farming economy in those days, New Zealand was badly hit by the Great Depression, and its effects perhaps struck sooner than in industrialised countries. There were major riots in the main cities in 1932, the worst happening in April when a large crowd of unemployed relief workers joined Post and Telegraph Association members marching to a Town Hall meeting, swelling their numbers to around 15,000. Angry at being turned away from the overflowing hall, some demonstrators scuffled with the police barring the entrance. When a leader of the unemployed, Jim Edwards, rose to speak – apparently to urge calm – a policeman struck him down. The crowd erupted and surged down Queen St. Armed with fence palings and stones . . . they smashed hundreds of shop windows and looted jewellery, liquor, clothing and tobacco.“

Conventional reports of the incident tend to focus on the looting and window-smashing, while soft-pedalling on the poverty and misery caused by widespread unemployment; and implying that the felling of Jim Edwards may have been accidental. However, the presence of navy sailors and Territorial Army troops with rifles and bayonets, and a thousand mounted volunteer “special” constables” armed with clubs, suggest that the government was all-too-ready to meet protest with deterrent violence.

Several leading lights in New Zealand literature focused on the Depression and its attendant human suffering: among them, novelist John Mulgan, playwright Bruce Mason, and poets Denis Glover and ARD Fairburn. Glover’s poem, “The Magpies”, uses the call of the magpie to represent the heartlessness of an economic system that drives a hard-working couple to bankruptcy, insanity and death. Fairburn’s “Down on my Luck” pursues a similar theme of a man who loses job, woman and possessions as he struggles his way “to the end of his tether” and probably suicide.

social-credit-prognostications

Still going round in circles on the “tax, borrow and hope” road.

Unfortunately, attempts to perpetuate the memory of those days have been gradually forgotten, assisted on the road to oblivion by the capitalist propaganda machine that distorts and discredits their true significance.

Bruce Mason’s dramatic monologue, “The End of the Golden Weather”, was adapted to an award-winning film in 1991 – unfortunately omitting the act that described the Night of the Riots in Central Auckland. The financial strategy of CH Douglas, expounding a middle road between communism and capitalism, was undermined by JM Keynes’s legitimisation of deficit budgeting, and the financial “stimulus” of the Second World War.

As Alan Price sang, back in 1974:

“Well I can hear them an’ I can feel them
An’ it’s as just as if they were here today
I can see them, I can feel them
An’ I’m thinking nothing’s changed much today.”

 

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What is money, and where does it come from?

One thing I can tell you for sure – it doesn’t grow on trees! But that doesn’t really answer the question. An article in the New Zealand Herald today caught my eye:

Show me the money: Reserve Bank reveals the ins and outs of printing cash

There is about five and a half billion New Zealand dollars circulating at the moment – in the country and offshore – and hundreds of thousands of notes being destroyed every week.

In 2016, the Reserve Bank destroyed 43 million notes, with a value around $1 billion.

The money is “granulated” down into “very small sort of confetti-sized bits of bank notes” then sent away to a specialised company that recycles them into plastic items one might find at home.

All this money being transformed into plastic on a weekly basis must be replaced.

print money

Thank God for Canada!

New Zealand money is printed much less frequently than it is destroyed, and it’s done overseas.

The notes are printed in Canada because it is not financially viable to run a printing factory in New Zealand. With money only ordered once a year at most, such a factory would lie unused much of the time.

Despite the increased use of Eftpos cards and online banking, the amount of New Zealand cash circulating here and overseas is growing, something that “around the currency world gets discussed a fair bit”.

There are a few “industry theories” on why the around $5.5b in cash is growing. One is that low interest rates means it doesn’t “hurt as much” to hold on to cash.

“You’re not losing interest revenue by holding it to any extent.”

Other reasons could include that New Zealand money was popular overseas, people using cash to avoid taxation, and using cash in the “dark economy” for illegal dealings.

But another thought was simply that increased spending led to increased needs for cash.

One way or another, the Reserve Bank has so far always had enough to circulate, and didn’t have “masses of unused notes sitting around”.

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Well, I don’t know about you, but for me, this article raised more questions than it answered.

moneypig

Everyone needs something to believe in

First of all, millions of dollars in “legal tender” are created and destroyed every year – so clearly those paper notes have no intrinsic value. In fact, they’re not worth the paper (or plastic) they’re printed on.

Second, NZ money is printed in Canada – and if that money factory is working all year round, I guess those Canadians must be printing money for a few other countries as well, yeah?

“New Zealand money is printed much less frequently than it is destroyed, [but despite this, and] “Despite the increased use of Eftpos cards and online banking, the amount of New Zealand cash circulating here and overseas is growing.” How so? Was there more cash in the past? And are people hoarding old banknotes? But the government keeps issuing new designs and the old ones become obsolete, so that can’t be true.

The Reserve Bank doesn’t have masses of unused notes sitting around but always has enough to circulate even at Christmas time when demand increases, and the “around $5.5b in cash is growing” all the time.

Smells fishy to me! Obviously, there’s something they’re not telling us. And it could be this:

It’s been estimated that notes and coins in all the world’s currencies represents about 8% of the total world money supply. What? Yes!

If you think you know what money is, and you’re happy now that you know it comes from Canada, I’ve got bad news for you. Even the best economist brains in the world can’t agree on what money is. But one thing I’m sure they will agree on – It doesn’t come from a printing factory in Canada.

What they’ll tell you, if you insist on a definition, is that there is a mysterious algebraic thing they call “M”. There used to be three of these things, M1, M2 and M3 – but now it seems another has been added: M0. Well, actually I think that was a con, because M0 is notes and coins, and all those other “M”s have actually been moved further up into the realms of virtual reality – bank overdrafts, credit card limits, futures, toxic mortgages, quantitative easings, and other stuff we mortals earning normal wages or salaries have no concept of.

How-to-Have-an-AWESOME-Marriage-when-drowning-in-debt

Borrow money from your friendly local banker 🙂

Let me give a simple example. Just before a big commercial shopping event like Christmas, my bank texts me to say there is $20,000 waiting for me. All I have to do is send a text reply to a four-digit number, that $20,000 will magically appear in my account, and I can get on with the business of spreading good cheer to relatives and friends.

I never ask for it – but I can’t help wondering: Is that $20,000 sitting at the bank in a bag waiting for me, or do they give it someone else? What if I change my mind later and ask for it? Do they say, “Sorry, buddy, we gave it to Joe Bloggs”?

And I also wonder, how many other people around the world got the same offer from their banks? A thousand? Ten thousand? A million? What if we all take up the offer? What if we all don’t? Will they print more? Or shred the unclaimed millions?

Then there’s the small matter of debt. The United States of America is proud possessor of the world’s largest economy. It also happens that they are the world’s largest debtor nation. According to Wikipedia, on November 7, 2016, US total gross national debt stood at $19.8 trillion (about 106% of the previous 12 months GDP). I checked the US online debt clock at 10.23 last night, and found that their figure is nearly $70 trillion. Clearly it depends who’s measuring, and how they measure it. Whichever figure you decide to run with, it’s a sizable heap of money!

Well, the next question that arises is, who do they owe it to? I asked a mate at work who seems to know a lot about politics, economics and world affairs. “China,” he asserted confidently, “and Japan.” So, I checked them out.

Turns out that China’s “national debt” as of March 2016 (the most recent figure I could find) stood at the equivalent of $4.3 trillion. The same source informed me that Japanese “public debt” in 2013 passed the quadrillion yen barrier in 2013 (about $10.5 trillion at that time).

Debt

Looks like a tricky situation – and he’s not alone.

Government debt in the UK (ie not counting private and commercial borrowings) amounted to £1.56 trillion, or 81.58% of total GDP, and the annual cost of servicing (paying the interest on) this debt amounted to around £43 billion. The Conservative government pledged in 2010 that they would eliminate the deficit by the 2015/16 financial year. However, “the target of a return to surplus at any particular time was finally abandoned by the then Chancellor of the Exchequer George Osborne in July 2016”. And sad to say, until they start running a surplus, that debt’s only going to get bigger.

Evidently none of the world’s biggest national economies is in any position to lend money to their insolvent neighbours. Fortunately, we have banks that can come to the rescue. Fractional-reserve banking is the current form of banking practised in most countries worldwide. In a nutshell, this system allows banks to lend up to 90% of the money they have in deposits.

The beauty of the system, from the banks’ point-of-view, is that they don’t have to apologise to you when you go to make a withdrawal: “Oh, sorry, we loaned your money to John Doe.” You can have yours, and he can keep his – and the bank can collect interest on the new money it created.

Rolling_Stone_Banksters

Happy bankers 🙂

But what if we all go and demand our deposits at the same time? Luckily every country has an LOLR – which apparently stands for “Lender of Last Resort”, not “Laughing Out Loud, Really”). This is normally the country’s central bank eg the US “Fed”, or the Bank of England, which guarantee to bail out the too-big-to-fail banks when they get caught out, as in 2008.

And since we are assured that those central banks don’t have large stocks of money in their cellars, and tax-payer dollars are already insufficient to balance their government’s books, I guess that means they have to borrow more money from the private banks.

Either that or go cap-in-hand to the money printing factory in Canada. Think about it.

If you don’t think there’s a conspiracy, you’re not paying attention

An interesting article I came across in Time Magazine: “Why Smart People Still Believe Conspiracy Theories”

wall street conspiracyA coterie of academic stooges set out to prove that people who believe in “conspiracy theories” are of sub-normal intelligence. Unfortunately for them, their findings did not confirm their initial hypothesis – so they had to come up with another one, ie people believe what they want to believe. Which is probably equally true of people who insist that there is no conspiracy.

The researchers’ fundamental error was to assume that people who believe there is a conspiracy have no solid evidence to support their belief. Not true, guys and girls.

  • Take a look at the Roman Catholic Church. One huge international conspiracy to keep the poor in slavery.
  • Take a look at Wall Street and the world of international banking and finance. Another monumental conspiracy to hide the truth behind global economic imperialism.
  • Take a look at the United States political system. Another major conspiracy aimed at convincing poor Americans that they actually have a say in how their government rules the country.

trumps-favorite-mcdonalds-meal-is-a-catholic-conspiracyA few extracts from the Time article:

“Millions of Americans believe in conspiracy theories — including plenty of people who you might expect would be smart enough to know better.

Despite mountains of scientific evidence to the contrary, at least 20% of Americans still believe in a link between vaccines and autism, and at least 37% think global warming is a hoax*, according to a 2015 analysis. Even more of us accept the existence of the paranormal: 42% believe in ghosts and 41% in extrasensory perception. And those numbers are stable. A 2014 study by conspiracy experts Joseph Uscinski of the University of Miami and Joseph Parent of Note Dame University surveyed 100,000 letters sent to the New York Times and the Chicago Tribune from 1890 to 2010 and found that the percentage that argued for one conspiracy theory or another had barely budged over time.

Now, a study published online in the journal Personality and Individual Differences provides new insights into why so many of us believe in things that just aren’t true: In some cases, we simply want to believe.

The second study was similar but also sought to correlate belief in conspiracy theories and the paranormal with overall cognitive ability. To determine this, the people answered a number of questions that measured their numeracy — or basic mathematical skills — and their language abilities.

us democracyWhat’s most troubling — and a little mystifying — is the fact is that so many people in the studies score high on all of the rational and intellectual metrics and yet nonetheless subscribe to disproven theories. That’s the case in the real world too, where highly educated people traffic in conspiratorial nonsense that you’d think they’d reject. In these cases, the study concluded, the reason may simply be that they’re invested—emotionally, ideologically—in believing the conspiracies, and they use their considerable cognitive skills to persuade themselves that what’s untrue is actually true. If you want to believe vaccines are dangerous or that the political party to which you don’t belong is plotting the ruination of America, you’ll build yourself a credible case.”

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*Interestingly US presidents and CEOs of large corporations seem to subscribe to this one!

Economic gobbledegook – and why the world is going to hell on a fast train

This is by some guy called Ambrose Evans-Pritchard, writing in the UK’s Daily Telegraph. Well, with a name like that you wouldn’t imagine he’d have missed too many meals in his life. He’s probably right in picking that it’s not a good sign for the future of the world when someone can pay $450 million for a painting, even if Leonardo da Vinci did paint it. Reading between the lines of overblown pretentious verbiage, I reckon he’s saying the world is in for another major financial crash, engineered by the same grotesquely over-paid, grasping, selfish “financiers” that brought us the last one.

Cy twomble

$46 million painting by Cy Twombly

Leonardo da Vinci has special cachet. What is striking about the Christie’s soiree in New York last week was not so much the US$450m ($661m) paid for his rediscovered Salvator Mundi but the prices fetched by everyone else.

Buyers forked out $46m for vermilion spirals from the Bacchus series by Cy Twombly, executed 12 years ago with a paint-drenched brush on a pole. Soothing sands called Saffron by Mark Rothko fetched US$32m.

The week’s haul at Christie’s and Sotheby’s topped US$1.5 billion, with Asian buyers snapping up Monets. Fernand Leger’s abstract Contrastes de Formes fetched US$62m.

It screams late-cycle liquidity, recalling Japan’s impressionist fever in the late Eighties before the Nikkei collapsed and the bottom fell out of the art market.

092216-best-paidBitcoin clinches the argument. It has risen more than 1,200 per cent over the past year to more than US$8000 – five times an ounce of gold – on a “greater fool” presumption.

This is not a criticism of blockchain technology. It will flourish. But you cannot yet buy and sell things in any meaningful way with cryptocurrencies worth US$180b.

Bitcoin will end badly, either when the Chicago Mercantile Exchange launches its futures contracts in two weeks and allows traders to short it, or when the global cycle turns. A runaway asset boom can last a long time when the G4 central banks are holding real interest at minus 1.5 per cent and spending US$2 trillion a year soaking up “safe assets”

And here’sAcademic bulls say the stock of central bank assets is still growing. Market bears counter that the flow is falling, which matters more to them. Hence the recent rout in high-yield credit. Junk bond funds saw the biggest outflows since 2014 last week.

A parallel retreat is under way in East Asia where US$800m of bond sales in steel, solar and palm oil were cancelled. These are minor tremors. What threatens the universe of stretched asset values is the return of US inflation. The boom is built on the premise that the Fed will bathe the global system with ample liquidity.

banking-2015

2015 figures for the UK

Yet that is precisely what is now in doubt as US unemployment drops to a 17-year low and the dormant Phillips curve reawakens. The New York Fed’s underlying inflation gauge has jumped to a post-Lehman peak of 2.96 per cent.

All it will take from now on is a single piece of hard data to confirm this trend and the markets will reprice interest rate futures abruptly, shaking the whole edifice of global risk appetite.

Staccato rate rises by the Fed would ignite a dollar surge, squeezing an estimated US$10.7t of offshore dollar debt. There is a further US$14t of global dollar debt hidden in derivatives and FX swap contracts, pushing the total to US$25t.

The Wolf of Wall Street

“Watching with wolfish concentration . . . “

I didn’t want to upload the whole pretentious, jargon-loaded article – just give you a taste – but here’s Evans-Pritchard’s conclusion:

“Major players in the City are watching with wolfish concentration. Bank of America says the air is getting thinner for risk assets but tells clients to stay with the “Icarus trade” as long as you can still breathe.

Mark Haefele, investment chief at UBS, says it is too early to bail out but the coming inflection point is “something we think about a lot”.

Inequalities are a result of low wages, based on big profits, financial swindles, multi-trillion dollar public handouts and multi-billion-dollar tax evasion

If you still have illusions about the American dream, thanks to sojourner for this:

Image: http://www.commondreams.org …Inequality is not a result of ‘technology’ and ‘education’- contemporary euphemisms for the ruling class cult of superiority – as liberals and conservative economists and journalists like to claim. Inequalities are a result of low wages, based on big profits, financial swindles, multi-trillion dollar public handouts and multi-billion-dollar tax evasion… …US corporations in […]

via How Billionaires Become Billionaires | Global Research – Centre for Research on Globalization — An Outsider’s Sojourn II (The Journey Continues)

Saudi royals holidaying in Turkey

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So why do you need 30 bicycles?

According to our local newspaper, Saudi Arabian Prince El Velid bin Tallal is currently holidaying in Bodrum with his wife and daughters. He has been spotted cycling around the streets near his hotel of accompanied by several large bodyguards.

The royals are staying in a luxury hotel in the Göltürkbükü area much loved by local glitterati and the paparazzi who make a living photographing and writing about them. Prince El Velid is not the richest guy in the world, but with a wealth estimated at $32 billion, he’s definitely up there with the big guns. He and his family and carers arrived at Bodrum Milas Airport on the royal Boeing 747where their 300 suitcases and 30 bicycles took several hours to unload.

Prince-AlWaleed-Bin-Talal-002

The prince’s private jet and holiday luggage

It seems a bay near their hotel has been closed of for their exclusive use, where they can swim, sunbathe and anchor their 87-metre yacht Kingdom KR5. In case the hotel’s facilities are not up to expected standards, the yacht apparently has a swimming pool of its own.

Who knows – maybe we’ll bump into them at our next concert.

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The Kingdom KR5

End of Labour as a major political force?

The Light Dawns – The Penny Drops!

eureka

It came to me in the bathtub!

It was a favourite saying of my old middle school teacher, Mr Hislop. It was a mildly sarcastic form of congratulations when one, or all of his pupils finally showed signs of understanding something he had been at pains for some time to explain.

The words came to my own lips as I read an opinion piece in New Zealand’s own Herald newspaper/website. The writer was commenting on the woes of the NZ Labour Party in the lead-up to this year’s General Election. The conservative National Party has been in power since 2008. The Prime Minister for most of those years was an unabashedly rich finance mogul whose standard response to news media questions about the numerous scandals that broke during his term of office was, “Oh, nobody cares about that!” New Zealand has a ludicrously inflated housing market, a playground for wealthy local and foreign “investors”. The country has received dishonourable mention in global reports on child poverty and international money laundering.

In spite of that, and more, the main opposition Labour Party is plunging rather than rising in public opinion polls, and the party’s panicked response has been to choose a new leader, four months out from Election Day. It’s the beginning of the end of Labour as an automatic major political force,” says this political commentator.

Interesting choice of words, don’t you think? automatic major political force”? Unfortunately, that’s what it is, and has been for the last 40 years – and not just in New Zealand A brain-dead response by people unhappy with the social injustice created by traditional conservative economics. Political pundits in the UK are desperately trying to convince voters that the local Labour Party has found, in Jeremy Corbyn, a leader to take them back to their roots. The US Democrats managed to sell Barack Obama to their well-heeled, trendy-lefty supporters, and nearly did it again with Bernie Sanders. The sad fact is that Labour Parties (and their alter egos) in these countries and Australia, and others for all I know, are just a construct of the established financial elite who wield the real power while conning a pathetically gullible electorate into thinking they have a choice at the ballot box.

walking dead

Labour back from the dead – again?

Let me quote you some facts and figures. New Zealand voters elected their first Labour Government in 1935, in the depths of the Great Global Economic Depression. That government did actually manage to implement some genuine socialist reforms, on which their successors have been dining out ever since. By 1949, however, they had turned their back on most of their founding principles, got rid of any dissenting voices in their own ranks, and were deservedly thrown out in that year’s general Election.

68 years have passed since then. Conservative National governments have held the reins of power for 47 of those, and pale pinkish-blue pseudo-Labour governments, the remaining 21. The last possibly true old-style Labour Prime Minister, Norman Kirk, was elected in 1972 on the slogan, “It’s time for a change” – which voters were ready to accept after twelve years of National rule. Unfortunately, Big Norm died two years later, and Labour were thrown out in 1975, having failed to achieve much at all.

puppet

Work it our for yourself.

National returned to office and proceeded to make themselves pretty unpopular, nevertheless winning again in ‘78 owing to their own electoral gerrymandering and Labour’s predictable incompetence. Despite NZ’s manifestly unfair first-past-the-post electoral system, a rejuvenated force had appeared on the NZ political scene. The Social Credit Political League began picking up support from voters fed up with the lies and deceit of the two main parties. After giving the National Party two shock defeats in by-elections, Social Credit actually replaced Labour as the country’s preferred opposition party in public opinion polls in 1980.

That was when the business/financial elite showed their true colours. Going against almost total international opinion, the National Prime Minister arranged for the NZ Rugby Union to host a tour of the country by a team from apartheid South Africa. Whatever naïve political writers tell you, it was a deliberately cynical ploy to divide the country along conventional lines, with the rugby-mad and the libertarians supporting the tour, and left-leaning union-leaders, armchair liberals and “intellectuals” coming out strongly against it. The 1981 General Election returned to the same-old-same-old, manipulators-extraordinaire National and a temporarily ideologically renewed Labour.

The victory went again to National, but by 1984 NZ voters had definitely had enough of them. Seeing the writing on the wall, the same business/financial elite set up a well-financed straw party to siphon off the protest vote and ensure that Labour would finally return to office. But what a Labour Government!! Their public relations creation windbag Prime Minister led a government that implemented libertarian reforms drawing inspiration from the UK’s Iron Witch Margaret Thatcher and US Wild West hero Ronald Reagan.

yellowbrickroad

Sorry, folks – Labour won’t take you to the Emerald City.

The simple fact of the matter is those who hold the real power in New Zealand (and other Western pseudo-democracies) want to retain the Labour Party as the main political “opposition” to maintain the illusion that voters have a choice. “The end of Labour as a political force?” Sorry, mate, that happened decades ago. They’ve been dead for years – they just won’t lie down.

I’d like to believe that the light is finally dawning in New Zealand, and the penny will drop to activate the machinery of a new political age – but I don’t hold out much hope. Too many people want to believe in the yellow brick road.