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Economic Impacts - Business Closures


the galah

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2 hours ago, Brodie said:

 

What about the mental health no.s, the bankruptcies, partnership splits due to the overreaction to a mlld virus.

 

But bankruptcy numbers are down,not up as compared with prior to the virus.Isn't the reason given for the reduction in numbers due to the government hand outs of cheap loans and subsidies which have kept many afloat when they would have failed in a pre pandemic world. You would have to wonder whether the governments give aways have created an illusion that will come home to roost in the future.For example I can imagine an easy way out of paying back a government loan would be to file bankruptcy when the subsidies stop coming.

As to those wage subsidies. They may have been needed,but the government had very little auditing of them. I know an employer who claimed for a part time employee,then asked the employee if he was available for work,to which the employee texted back no. So the employer kept the subsidy,which was legal to do if his employee wasn't available to work..The issue was that when i asked the employee why he wasn't available for work it was because he was on a part benefit,and winz had told him he was entitled to the wage subsidy,so he claimed for it and they actually paid him out the full subsidy. So in effect the subsidy was paid twice,when it should have been just the once,and the employee got double what he would have had he been working.He couldn't understand why,but wasn't complaining.Both the employee and employer thought it was the system at fault.

As to divorces,well those numbers were down as well as at the end of last year,but numbers getting married are always trending down anyway.

The double standards of those pushing for the vaccine continues to set new heights.The very same people celebrate the fact when they can go and buy their unhealthy calorie laden fast food and pop down to the local store to buy their ciggarettes, while at the same time many of the very same people preach of how people must not be selfish and must take the vaccine to safeguard everyones health.Safer to be vaccinated and a fat smoker,yet that is exactly the type of person most at risk.Theres no consistency in their argument.

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41 minutes ago, the galah said:

But bankruptcy numbers are down,not up as compared with prior to the virus.Isn't the reason given for the reduction in numbers due to the government hand outs of cheap loans and subsidies which have kept many afloat when they would have failed in a pre pandemic world. You would have to wonder whether the governments give aways have created an illusion that will come home to roost in the future.For example I can imagine an easy way out of paying back a government loan would be to file bankruptcy when the subsidies stop coming.

As to those wage subsidies. They may have been needed,but the government had very little auditing of them. I know an employer who claimed for a part time employee,then asked the employee if he was available for work,to which the employee texted back no. So the employer kept the subsidy,which was legal to do if his employee wasn't available to work..The issue was that when i asked the employee why he wasn't available for work it was because he was on a part benefit,and winz had told him he was entitled to the wage subsidy,so he claimed for it and they actually paid him out the full subsidy. So in effect the subsidy was paid twice,when it should have been just the once,and the employee got double what he would have had he been working.He couldn't understand why,but wasn't complaining.Both the employee and employer thought it was the system at fault.

As to divorces,well those numbers were down as well as at the end of last year,but numbers getting married are always trending down anyway.

The double standards of those pushing for the vaccine continues to set new heights.The very same people celebrate the fact when they can go and buy their unhealthy calorie laden fast food and pop down to the local store to buy their ciggarettes, while at the same time many of the very same people preach of how people must not be selfish and must take the vaccine to safeguard everyones health.Safer to be vaccinated and a fat smoker,yet that is exactly the type of person most at risk.Theres no consistency in their argument.

The bankruptcies are huge Galah.

People that have worked to build up their business for years are now going to continue to work well past retirement age.

The lockdowns are killing business and people but these figures are not mentioned as it would change peoples minds re the toxin.

Watched Fauci on Sky this morning and what a horrible evil little cretin.

He was put on the spot a couple of times and it is very clear that you are seriously deluded if you believe that Pfizer is a game changer to help you.

You are just as likely to test positive to Covid19 if you are vaccinated and you have been jabbed with toxins!!

Even if 100% of people were injected with 
Pfizer there would still be cases, you wont eradicate it.

Now they want you to take boosters all the time, that is right get that Shite in you, get that  % up so that Ardern can gloat about how well she is is doing!

The thing is the intelligent are seeing thru this media BS that is only out to push the toxin into you, you do not get the correct side because the media is owned by the same owners of the suppliers that are dishing out  the toxins!!!!

 

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4 hours ago, Chief Stipe said:

@Brodie on the money again.  6,000 businesses closed shop last month.  Normally only a couple of dozen a month!

Apparently according to a government agency media announcement, the number of suicides have dropped slightly since last year.

Is there any limit to the amount of BS that this incompetent government is prepared to give the sheep!

It is going to come to a head hopefully, and all of her followers actually wake up and realise that Ardern and Bloomfield have acted just so poorly.

They keep wanking on about getting “The Jab” it is the way out of the pandemic and giving back the freedoms for the ones that have had the poison jab!

Reality is that they are delusional and so far out of their depth and the Pfizer poison is not a vaccine that helps anyone.

Look, If you have had the jab for your own health and the health of the country, then good on you if you think that was best.

Hope it works and you keep your health, however I will stop posting on BOAY forever if the Pfizer actually works and clears the virus and there is not a mass of medical issues in the future.

Why on earth you would listen to a lady whose work experience is in a fish and chip shop and the young Communist party?

What gives you confidence that what her and Bloomfield say is actually truthfull, as she has constantly lied to you!

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6 minutes ago, curious said:

`Where did you see that? Or, do you mean in the UK when they reopened?

Heard it on the radio last night.

It was reported in March this year that between September and November 2020 over 16,000 businesses closed.  Up 130% on the previous year.  I can't see it having improved.

Although I can't find anything published in the last few days the following was reported in June:

A new report looking into the state of the retail sector reveals a grim outlook.

Approximately 6700 retail businesses are at risk of closure during the rest of the year, but even more shockingly, 17,100 could shut up shop for good as a result of Covid-19.

Of the some-27,000 retail businesses in New Zealand, just 10,000 are understood to be in a stable financial position.

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This was reported yesterday.

However, he said there had been a 13 percent rise in company credit defaults, with a high number of business closures, while company registrations were down 11 percent.

"Unsurprisingly, we see higher rates of credit defaults in rental and property services, accommodation, food services and transport, as closed borders and restricted movement impact business cashflow," McLaughlin said, adding the number of defaults was trending higher.

"And when you couple that with a number of businesses that closed during the month of September, there's a record 13,400 businesses closed in September. It's really quite frightening."

He said most of the defaults and closures were in Auckland.

McLaughlin said there was unlikely to be a turnaround in the number of defaults given the uncertainty around when businesses would be able to reopen and begin generating revenue to pay their bills.

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On 2/10/2021 at 10:57 AM, the galah said:

But bankruptcy numbers are down,not up as compared with prior to the virus.Isn't the reason given for the reduction in numbers due to the government hand outs of cheap loans and subsidies which have kept many afloat when they would have failed in a pre pandemic world. You would have to wonder whether the governments give aways have created an illusion that will come home to roost in the future.For example I can imagine an easy way out of paying back a government loan would be to file bankruptcy when the subsidies stop coming.

 

Coming home to roost very quickly!

Record business closures in the last month.

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On 6/10/2021 at 6:45 PM, Chief Stipe said:

@Brodie on the money again.  6,000 businesses closed shop last month.  Normally only a couple of dozen a month!

I looked at nz bankruptcy stats again today.As at september numbers are not up.They  don't support the claim bankruptcy numbers are up.

Thats not to say its not going to happen.But its obvious the government hand outs have down a good job in preventing the obvious problems from being reflected in the stats. So far that is.Who's to say this government won't keep going with the endless subsidies for a while longer?

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