Friday, May 02, 2014

Who benefits from National's "rockstar economy"?

Aussie bank oligopolists, of course:

ANZ Bank's New Zealand business is attributing a 31 percent jump in its first-half profit to cost cutting, market share gains in the mortgage market and strong lending to the commercial and export sectors.

New Zealand's largest bank says it is also enjoying rapid growth in KiwiSaver.

ANZ posted an $853 million net profit for the six months ended March, up from $715 million in the same six months a year earlier.

So while ordinary kiwis are struggling for jobs - something Treasury predicts will continue until 2018 - foreign financial parasites are making out like bandits. It really makes you wonder who "our" government works for...