ADRIAN ORR our NEW RBNZ GOVERNOR

[Recaster]

Tim Hazledine an economics professional says that inflation is supply chain related, nothing to do with money printing by the RBNZ or historically low interest rates.

He is more worried that the RBNZ talking about controlling inflation will cause people to lose jobs and suggests what we might do to stop the deflation.

Reading this crap makes me want to buy a pitchfork.

https://www.nzherald.co.nz/business/...AAF3F7KNVWSA4/

Is it true that constantly rising prices are good for people and the economy. If so what is the proof. Currently all I see in NZ is rampant asset price inflation, a widening gap between the asset owners and the rest and a loss of social mobility meaning you can't become one of the asset owners. Probably a bit extreme at this stage, but it is the direction we are headed and all these economists suggest are ways to speed this up.

Is it also true that the financial system would collapse if debt stopped expanding. Maybe that is the real reason, no one wants to be around when the ponzi breaks.

Any economists posting on share trader? I would be interested to know.

Jenny Ruth was also in the herald this morning but I can't seem to find her articles online. She was criticising the RBNZ but not for the same reasons as me.

Is this the article? Paywalled I think.

https://businessdesk.co.nz/article/o...nd-and-control

[Aaron]

Is this the article? Paywalled I think.

https://businessdesk.co.nz/article/o...nd-and-control

I think so, the headline is different but the bit I can read is about RBNZ policy around forecasting its use of macro prudential tools.

Jenny did not think it was a great idea from what I understood.

[winner69]

Amazing that Robertson saying that nothing about the inflation rate has anything to do with overheated economies and monetary policy mistakes here and abroad. Disowning any responsibility.

[Aaron]

Amazing that Robertson saying that nothing about the inflation rate has anything to do with overheated economies and monetary policy mistakes here and abroad. Disowning any responsibility.

It seems there is no connection between inflation and monetary policy (printing and interest rates) or inflation and fiscal policy. or a combination of both monetary and fiscal policy. Handing out a freshly minted $20 billion wouldn't boost prices would it.

Adrian concerned about an unsustainable housing market. Gee I wonder what caused the housing market to become unsustainable

https://www.rnz.co.nz/news/national/...y-reserve-bank

[Panda-NZ-]

The world has been printing money for 10+ years so why would it be a problem now.

It could also be the corona lockdowns and geopolitics.

[winner69]

Orr a bit loose with ‘truth’ and so so vague at the Select Committee yesterday

Pretty poor effort


And we have to live with / suffer with his decisions

[Aaron]

Orr a bit loose with ‘truth’ and so so vague at the Select Committee yesterday

Pretty poor effort


And we have to live with / suffer with his decisions

I had assumed you were in the top half of society and were the half that have benefited from central bankers policies and lack of concern for the less well off.

That said can we get asset price inflation without CPI inflation. Adrian will no doubt give it a good go.

[Aaron]

Although not related to RBNZ Michael Reddell on immigration

https://www.newshub.co.nz/home/new-z...g--expert.html

And another but not sure about the qualifications of a Cambridge-based economic commentator.

https://www.nzherald.co.nz/nz/john-g...ORLN4EVSHC6RM/

Personally mine is not an economic argument against immigration, I just don’t like lots of people and think we should invest in the people already here. Too many townies no good for anyone.

Another view on immigration and comment on the last link posted. "stupid analyses like Gascoigne’s."

https://www.interest.co.nz/public-po...conomic-growth

Apparently the productivity commission is giving the issue some thought. I will be interested to see if they come up with they ideal population for a country our size. I would suggest 5mill or less but usually they come out with double or triple whatever the current population is.

I noticed Winners concern at the declining NZD on the black monday thread. Imported or home grown inflation is Adrian's to control. A falling dollar might make it harder for him to stop raising rates in the face of declining house prices here at home. Here is hoping he discovers what his job is first and foremost and stops following the retards overseas.

Higher interest rates in theory will bring the dollar back up if you are worried about it winner.

[peat]

The world has been printing money for 10+ years so why would it be a problem now.

It could also be the corona lockdowns and geopolitics.

lag and counter cyclical other factors could conceivably delay it this long in my humble opinion.

[winner69]

BoE censured by senior Tories over soaring inflation

Can’t see that happening in NZ ….cos inflation is all imported eh