ADRIAN ORR our NEW RBNZ GOVERNOR

[winner69]

Aaron ….that Clint guy all over the place pointing out how great the Labour govt is.

Even if he’s right with his 1% the way he puts it without actually saying it is comparing it to annual inflation of 7.2% and not the 1.4% for the quarter …but that’s persuasive PR for you eh.

On Orr and OCR it’s amazing how many gurus are calling on him to take it easy on Wednesday ……and he’s probably been pressured by the independent MOF as well.

[Aaron]

Aaron ….that Clint guy all over the place pointing out how great the Labour govt is.

Even if he’s right with his 1% the way he puts it without actually saying it is comparing it to annual inflation of 7.2% and not the 1.4% for the quarter …but that’s persuasive PR for you eh.

On Orr and OCR it’s amazing how many gurus are calling on him to take it easy on Wednesday ……and he’s probably been pressured by the independent MOF as well.

Even at 1% per quarter a 4% inflation rate is still 33% higher than the top end of the RBNZ mandate. Still a failure by Orr and co. Who knows with lagging effects of interest rate rises what the right level is. Orr will never please everyone no matter what he does. Let's hope he remembers that price stability is his main role and that he is currently failing miserably.

Maybe he could ask Chippy to curb immigration to help him reduce demand.

[Aaron]

Looks like my initial post has been censored. I assume for profanities or defamation.

Be nice to know why.

[Aaron]

I thought linking house price rises to immigration was a no no for main stream media. Isn't it racist???

No just Xenophobic, the colour of your skin does not matter.

https://www.oneroof.co.nz/news/43088

If history rhymes then inflation first, extreme wealth and income inequality, social unrest (stupid people like me blaming foreigners) and finally we get a Napolean or a Hitler. Interesting times.

[Aaron]

Interesting you tube clip on inflation targeting.

At 7.29mins in, Arthur Grimes the father of inflation targeting says it all when he says "Why does the central bank want to use its policies to increase the cost of living for ordinary citizens. Its just bananas"

Is there a cost of living crisis in NZ as politicians keep saying? Why don't they do something about if we know the cause?

https://www.youtube.com/watch?v=UN-O6oNes0I

Couple of seppo economists argue for a higher inflation target after that.

Typical arts graduates wanting to take the easiest/laziest option.

[winner69]

My mate Michael Reddell still getting into Orr and his mates …

As the RB MPC slinks back today from its extended summer holiday don't forget the billions of dollars of taxpayers' money they lost, to no useful end, thru the LSAP programme. As ever, money rashly wasted can't be used later for more pressing calls - eg flood repairs etc.

[Aaron]

My mate Michael Reddell still getting into Orr and his mates …

As the RB MPC slinks back today from its extended summer holiday don't forget the billions of dollars of taxpayers' money they lost, to no useful end, thru the LSAP programme. As ever, money rashly wasted can't be used later for more pressing calls - eg flood repairs etc.

What a massive overreaction the covid response was. I still support the first lockdown decision and went along with the others which were throwing more and more money to people each time. Wage Subsidies, RSP, CSP. The LSAP funded it all and the FLP helped to put a rocket under the housing market.

I went along with the other lockdowns but in hindsight the other lockdowns were a total waste of money and everyones time. I was going to say money that we have to pay back but I am not sure I believe that, as inflation will take care of some of it. At 7% inflation for 5 years thats 35% of your loan sorted. Also when you can print billions and billions more does repayment even mean anything to a govt. Not the US anyway, no way they will repay their debts.

There is also the time and disruption to all our lives when eventually we all just went back to normal and some people died of the virus and no one really cares. I did see an article about a slightly higher death toll due to covid but it wasn't anyone I know so didn't care or read the stats. (Could check on Snoopys tally in another thread)

They did what they thought was best at the time so hard to judge them as it is all easy in hindsight.

I only hope Adrian now realises his only job is price stability, not saving the housing market, stock market or everyone else, with crazy money printing and ridiculous suppression of interest rates.

[Aaron]

The censors on this site are annoying. I would have thought a debate on where to draw the line on obscenities and profanities would have been welcomed. Maybe not by some hypocrites.

[JBmurc]

What a massive overreaction the covid response was. I still support the first lockdown decision and went along with the others which were throwing more and more money to people each time. Wage Subsidies, RSP, CSP. The LSAP funded it all and the FLP helped to put a rocket under the housing market.

I went along with the other lockdowns but in hindsight the other lockdowns were a total waste of money and everyones time. I was going to say money that we have to pay back but I am not sure I believe that, as inflation will take care of some of it. At 7% inflation for 5 years thats 35% of your loan sorted. Also when you can print billions and billions more does repayment even mean anything to a govt. Not the US anyway, no way they will repay their debts.

There is also the time and disruption to all our lives when eventually we all just went back to normal and some people died of the virus and no one really cares. I did see an article about a slightly higher death toll due to covid but it wasn't anyone I know so didn't care or read the stats. (Could check on Snoopys tally in another thread)

They did what they thought was best at the time so hard to judge them as it is all easy in hindsight.

I only hope Adrian now realises his only job is price stability, not saving the housing market, stock market or everyone else, with crazy money printing and ridiculous suppression of interest rates.

.. when you put the picture of getting as many Jabs into arms as possible and once that was done the operation FEAR was put to bed and now its old news ...well moved onto the next agenda ...Carbon

As to the RBNZ .. another 50bpts rise today .. that will help the masses of kiwis struggling .. got to keep that evil inflation under-control ...now how was that created ?? restrictions on trade-movement COVID POLICY , anti energy policy-climate control policy ,Ongoing anti small business regs restrictions(esp. during COVID times) , trade wars -COVID finger pointing, removal and lockout of foreign workforce,,International trade breakdown


As we know one of are largest inflations cases is "FOOD" here in FARMING/FISHING NZ an exporting FOOD nation .. that pretty poorly managed.. I know working in the Fishing sector the fisherman work the hardest take the most risks and make the least per Kg ...Vs the middle men , Taxmen GOVT costs, Aus Supermarket giants..
then the NZ consumers pay 200%+ more than fisherman gets.. etc

rant over

[winner69]

Should have gone all the way and made OCR a round 5%