Blog/Australia & Oceania
Posted Oct 25, 2017 by Martin Armstrong
The New Zealand Prime Minister that took the country back into Marxism, has fired its first shot across the bow. The Labour party have formally signed a coalition agreement, introducing all new policies focusing on climate change, regional development, and poverty which translates into hunting the hated rich. Thirty-seven-year-old Jacinda Ardern, a member of the New Zealand Labour Party, became the world’s youngest female leader. Hillary must be crying in her martini.
Nevertheless, PM Ardern has just fired the first shot across the bow and this is a serious warning that foreign investment better cross New Zealand off the list of places that will be up-and-coming. She has banned foreigners from buying property in New Zealand. The first proposal was to ban any migration to New Zealand as well. That they had to back off of given the refugee impression and that would have agreed with Trump – OMG!
She thinks banned foreign property ownership will cool off the property market. The problem will be, a property crash. When home values decline, people feel they lost money and they spend less. With rising property values, people feel they are better-off and spend more assu8ming they have equity even if they do not borrow against it.
She may be the youngest female leader in the world, but she also is clueless about economics.