Whenever the left need someone to spread manure of the economics variety Shamubeel Eaqub is the go-to bloke. He’s full of it, or close to.
Today’s dissemination covers housing prices and the increase of which, according to the blowhard, is the ‘fault’ of something called ‘baby-boomers’. The economic illiterate has apparently never heard of market forces, but then again, he also hasn’t heard that socialism doesn’t work, so no surprises there.
Our drongo seems to have never heard of the Resource Management Act or of councils limiting the supply of land for housing, putting price pressure on existing stock. If he did even a skerrick of homework he would know this but Eaqub just blows out what’s between his ears at the time he’s asked a question, and that’s invariably nothing.
Those land-restriction and use measures were put in place in the mid-90’s and within a very short time were putting hell-to-pay into land and house-price escalation. Everybody knows this except our mental-midget ‘economist’. Just look at the nightmare increases year-on-year as the restrictions began to bite:
Section price inflation of about 120% in just seven years (under Aunty Helen), but, yeah right, it’s baby-boomers what dunnit.
The bloke’s an idiot, not even a useful one.