I had to mull over the headline for this post. At first I thought “NZ political spectrum finally collapses on itself”. Then I thought “NZ politics, the spiral that collapses out on itself” I settled on the above for I thought it really does bring home most starkly how John Key, steering the National Party far left, has taken NZ’s political state where it  has never been before.

What brought me to this place of confusion? I read a post on the Standard yesterday that was critical of the Key govt FROM A RIGHT WING VIEWPOINT  and therefore far more effective and interesting than any of the usual progressive tosh one reads on Kiwiblog or Whaleoil or any of the other far left National supporting blogs in NZ.

The Standard post, by one Simon Louisson is entitled “Like Solid Energy, hubris behind Landcorp’s predicament”. Its critical of the National Party’s inertia in respect of Solid Energy and Landcorp, and critical of the govt taking dividends from these two SOEs when they were both heavily in debt and only marginally economic. (If at all. Of course Solid Energy has since ceased trading)

John Key made the point a day or so ago that Landcorp’s debt of $359 million was not really a problem because govt equity in the enterprise was around $1.6 billion.  This was deceptive of Key, for if he’s any kind of business person he must know that its whether that debt can be serviced that is the real issue, and to me, it does not look like it can be.

Landcorp’s profit last financial year was only $1 million. Hands up all those who agree this is a good return on $1.6 billion. This was when milk prices were much higher than they are today. Landcorp has to lower its debt but to do so it will have to sell assets at the bottom of the market. And probably to some Chinese Communist govt owned investment corporation.

Anyway, the post on the Standard gives a good breakdown of how both SOEs Landcorp and Solid Energy have been mismanaged. I recommend you read it.

I think it is an important change in NZ politics, where for possibly one of the first times on record we have a far left blog attacking the govt from a right wing perspective. (in some ways anyway).

Most criticism of National has the impact of a feather falling into the Grand Canyon, and that is because its almost always from left wing sources (MSM or blogs) and is coming from a left wing political perspective. Voters therefore give it little credibility.

Right wing criticism of National from the MSM and LW blogs is another matter, and its as rare as rocking horse excrement. Maybe NZ Labour are at last waking up to the fact that the National Party’s slide to the far left of the political spectrum leaves them no other choice but to go right in their criticism. And their policies.

Like Solid Energy, hubris behind Landcorp’s predicament