Not for the first time Russell Norman’s struggles with logic hit again this week as he claimed that the sale of Mighty River power had lost hundreds of investors squillions of dollars and thus the asset sales programme was a disaster.
He might ponder the possibility that:
- Had he and friends not threatened to centralise energy sales in a government run bureaucracy thus scaring the bejeebus out of even modest historians of the the 20th centuries centralising powers the Soviet Union, China, Cuba and so on, they might have lost a good deal less; and,
- Since the shares had been sold to the public it was the private sector investor not the tax payer who bore 49% of the pain emanating from his ill thought out scheme. Asset sales then saved the precious state and its long suffering taxpayers from the risks imposed on them by him and his ilk.
Sometimes even a glancing blow with logic would help.