Will someone explain to me as if I'm a curious 10-year-old how getting overseas hedge funds to build toll roads here makes us more wealthy?
I must be really thick or something. #nzpol
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@phil_stevens See, when the governments mates get a good contract some of the money flows back to these politicians, maybe a nice board position or some info on which stocks to buy..
After that the politicians are richer and when you then calculate the average wealth per New Zealander it's actually gone up as they are richer, simple really.
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Well, when a mummy hedge fund and a daddy hedge fund love each other very much... oh, wait. That's a different story -- the one about how hedge funds fuck us all over.
@sonnius @phil_stevens
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@sonnius @phil_stevens so kinda the same way that kiwis moving to oz increase the average IQ… 🙄
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@phil_stevens
I'd love to come up with something witty but...there's nothing
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@phil_stevens I suspect 'us' may be the wrong word for who gets wealthier...
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@phil_stevens I think maybe what's impeding your understanding is the assumption that they're trying to make us wealthier.
They're trying to make themselves wealthier.
😖
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@phil_stevens
[#]Luxon demonstrating how #NZPol hedge fund insider trading works...
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@jeremy_pm @phil_stevens Well, you, see, under the stupid dumb plan of "New Zealand government pays for a road" we get a road, and all the money stays in New Zealand except possibly some interest payments. In the Luxon awesome smart plan of "Overseas hedge fund pays for a toll road" the construction costs, interest payments, and 25 years worth of tolls go to the overseas hedge fund.
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@jeremy_pm @phil_stevens If you can't understand why "all the money goes overseas" makes NZ richer than "all the money stays in NZ" then I'm afraid nobody can help you.
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@Salty @jeremy_pm @phil_stevens what you're missing is the kickbacks which make Luxon more wealthy
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@dan @Salty @phil_stevens
First mistake is believing this #AtlasNetwork backed #Luxon led #NZPol government is acting in the interests of New Zealanders.
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@dan @Salty @jeremy_pm Wait, what? You mean that new motorways make land values on the periurban fringe go up? And this unearned capital gain could be captured by a lucky few?
Mind. Blown.
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@phil_stevens @Salty @jeremy_pm god forbid we tax those unearned profits to balance the books, though. The poor starving landowner class need that money
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@Salty @jeremy_pm @phil_stevens Show me a road in this country that can survive 25 years…
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@mez @Salty @jeremy_pm All the ones National built were falling to bits before they even opened.
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@phil_stevens @mez @Salty
Private investors are only interested in maximising profits. This can be achieved simply by minimising initial material costs and project quality.
By doing so investors are guaranteed additional funding for project will be required in the near future.
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@phil_stevens as Canadian living with this - you don't! It just generates revenue for their friends, you pay for the whole thing with your taxes, and it makes them pretend they're doing something.
Especially since those contracts are usually written to end in the next 100 yrs or so!
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@phil_stevens It makes it so the government permanently has to pay "Mother, May I?" for all future planning and infrastructure.
Texas tried and failed so now they're spending billions to buy back their own highways. I thought that would discourage others from doing the same but clearly I'm wrong.
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@phil_stevens It depends on what one means by words like “we” and “us”. In this case it doesn’t mean plebs like you and I.
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