NZ Asset Sales Policy Began On Wall Street

And another Kiwi gets it. Clutha river is also on the block for more destruction and dam building but what makes it clear in this article is that just like with the planned West coast seabed mining, fracking, Christchurch’s rebuilding monopoly of Fletcher all roads lead back to John Key’s connection with Wall street and his spectacular and suspect rise in NZ politics.

NZ Asset Sales Policy Began On Wall Street

By Lewis Verduyn

The Key government’s asset sales agenda is derived from the Washington Consensus – a set of Wall Street-driven policies that were pronounced dead after the global financial meltdown in 2008.[1] The New Zealand government, however, remains loyal to this failed ideology.

Why? The obvious link is Prime Minister John Key – a former investment banker for Merrill Lynch, the world’s largest brokerage failure.

In most other countries, state asset sales have become a last resort on the road to poverty and ruin, but for the Key government, asset sales are “business as usual.” [2]

So what’s really behind asset sales?
All wealth extraction is facilitated by international and national economic policies, coupled with the private banking system, which together deliver benefits to the financial elite by transferring wealth upward within and between nations.

The state asset sales policy is just one of several reforms under the Washington Consensus, a set of monetary and economic policies designed to allow: the privatization of public resources and utilities, the removal of barriers to foreign investment and ownership, the sale of state assets, trade liberalization, deregulation, the lowering of business taxes, and cuts to public services.[3]

These “free market” reforms are collectively termed neoliberalism.[4] Simply, they provide big business with improved legal access to markets and assets worldwide.

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