Thursday, October 24, 2013


Oh dear. After all their efforts to make it a success - a rock-bottom price, payment on installment, propping up a major customer with a government subsidy, and guaranteed high dividends from oligopoly rents - the Meridian privatisation has turned into a spectacular failure, attracting only 62,000 investors. That's fewer than voted for ACT in 2008. I guess people have learned their lesson from the Mighty River Power fiasco, where investors got badly burned and have already lost 10% of their money.

And naturally, it's all Labour's fault. So much for the party of personal responsibility...

That 62,000 BTW is ~1.4% of the population. That's who National represents - a tiny elite of the rich. The other 98.6% of us get to have our assets sold off at a loss and our public services cut for the benefit of this tiny clique of National cronies. Time to vote them out, and get a government which actually represents the people of New Zealand.