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  1. #791
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    Quote Originally Posted by Aaron View Post
    Good to hear definite views no matter how stupid, although your second line creates doubt. You “believe” or you “know” the payments will help?
    I'm not arrogant enough to believe that I know.

  2. #792
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    Hey Dobby are you an economist?

    I agree with Shamubeel Eaqub on David Seymours utterances but maybe he doesn't understand David's job is to talk sh*t to try and unseat the current govt.

    https://www.msn.com/en-nz/news/natio...64eb562252e0cd

    I would be interested to hear who/what Shamubeel thinks is responsible for inflation.

    "It is not Government spending that is driving inflation. We had the UK hit 9 percent inflation yesterday because there is a global inflation crisis.

    "Yes we should talk about inflation, yes we should talk about Government spending but you can't just tell lies about what is going on in the economy.

    "This whole thing that it is wasteful Government spending that is causing inflation is simply not true.


    He hints at "global inflation". Maybe a mysterious global force that is beyond comprehension is driving it all.

    I would still put my money on out of control central bankers in NZ and abroad.

  3. #793
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    Maybe I am not the only one to think borrowing money to hand it out to people is a dumb way to address inflation (cost of living crisis)

    https://www.nzherald.co.nz/nz/politi...GKVRBCQPUL4BU/

    a "poor mechanism for supporting households with a longer-term problem" - and that it will make inflation worse in the short term.

    Maybe Grant should just ask how much for your vote? and pay that. $350.00 seems a bit cheap.

    The poor and middle class should appreciate that Grant (with the help of Adrian Orr (acting independently of govt no doubt)) has done more to create wealth inequality and screw the poor and middle classes than any finance minister in living memory. Grant has even managed to drastically reduce social mobility and continues to do so while not addressing trickle down economics.

    At least National is honest, they say "screw the bottom feeders lets give big tax cuts to the well off" and carry on as normal.

  4. #794
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    Extract -
    Yet on Budget Day yesterday, Treasury released its inflation forecasts which are HIGHER than 3% for all of 2022, HIGHER than 3% for all of 2023 and HIGHER THAN 3% for all of 2024. It was also over 3% this past year, 2001. Yes this inflation is not temporary, it is not "transitory". New Zealand will NOT be achieving its agreed inflation target, not even remotely, over the "medium term". My question is: since when can a Finance Minister and a Reserve Bank Governor put their signatures to an "agreed" course of action, then willfully ignore it? In monetary economics, we call it a loss of credibility.

    https://www.downtoearth.kiwi/post/bu...ying-the-price
    . To say extreme valuations are “justified” is also to say that long-term market losses are “justified.” .

  5. #795
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    What you do is you , RBNZ, talk tough but act weak.
    People think yes we have only a little temporary inflation, so savers don't demand ever higher interest.
    No hard landing happens.
    Lets hope our terms of trade hold up.

  6. #796
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    Quote Originally Posted by winner69 View Post
    Extract -
    Yet on Budget Day yesterday, Treasury released its inflation forecasts which are HIGHER than 3% for all of 2022, HIGHER than 3% for all of 2023 and HIGHER THAN 3% for all of 2024. It was also over 3% this past year, 2001. Yes this inflation is not temporary, it is not "transitory". New Zealand will NOT be achieving its agreed inflation target, not even remotely, over the "medium term". My question is: since when can a Finance Minister and a Reserve Bank Governor put their signatures to an "agreed" course of action, then willfully ignore it? In monetary economics, we call it a loss of credibility.

    https://www.downtoearth.kiwi/post/bu...ying-the-price
    Loss of credibility or human nature Grant and Adrian are part of the 60% that own homes and assets, the plan to inflate away debt and prop up asset prices works well for them and for a spendthrift govt.

    I just wish they could be honest about what they are trying to achieve rather than lying to the 40% who seem clueless as to what is going on. Having the central bank and govt work hand in hand is also galling as the RBNZ was set up to avoid excessive money printing and reckless monetary policy as politicians could not be trusted with the printing press.

    I guess you won't hear Grant or Adrian talk about the NZ egalitarian ideal anymore.

    Jacinda's concern for the poor will also seem ingenuine.
    Last edited by Aaron; 22-05-2022 at 10:43 AM.

  7. #797
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    Adrian Orr is Hawkish on inflation according to Liam Dann and monetary policy is a blunt tool needed to be wielded carefully in the tricky balancing act that the RBNZ finds itself.

    Maybe if they had taken more care how they wielded this blunt instrument on the way down the way back up would not be so painful.

    https://www.nzherald.co.nz/business/...CIK4BKHDKVU54/

    Nobody really expects weak central bankers to get tough on inflation, especially as they need it to clear the debt they have created.

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