For those who prefer video, here's an experiment of our discussion about the bigger than expected rate hike and forecast rate hikes this week from the Reserve Bank
With national/federal elections in many G7 countries (& NZ) in 2023-24, could it be that these aggressive rate moves signal that CBs are looking to crush their economies in the immediate future, giving them space to begin cutting in the run-up to their respective federal/national elections, in support of the incumbent/sympathetic governments?
Central bankers know their appointment/autonomy is partially politically governed - especially in the US.
For NZ, I'd suggest RBNZ seeks to plausibly cut/pause OCR hikes in Q3 2023, which, added to the fiscal policy powder that Labour are keeping dry for the election run-in - would go a long way towards putting a Red spring in voting homeowners step ahead of the election.
Could well be these unregulated, unelected and antisocial banks and the hawks playing chicken with our lives simply shouldn’t have this much power and should work for NZ not cheap money handouts to offshore private banks and entities which we then have to pay higher margins on because they’ve given them too much.It’s just an outrageous scam and now they’re pretending to be grown ups. Badly. Keep an eye on banks and other profits because this performance will still work for all them no doubt. Such bs.
I don't know if sprinkling that powder is going to override the additional 10% decline in the value of those homeowners' roofs, which i find easily possible. After Bexley and Sandringham, Red also needs to somehow articulate a tougher on crime strategy to contrast and outshine nats penal colonies. It shouldn't be hard but I don't know if they have it in them.
Parsimony. If the laws and rights of children and carers where implemented instead of being largely unsupported and having to drag themselves up and invested in this simply wouldn’t occur. Or there would at least be some culpability but they’re so underinvested in and have so few rights enforced and just brutalised or abandoned by those they shouldn’t be that it’s just a simple equation and consequence now. We all know who won’t pay their obligations or play their part appropriately dont we. The Buck stops there as it were.
Plus they already breach our rights and fail in their job of governance, human rights and public service which we pay for so we really are just a colonised penal state.
Thank you Bernard, David and Jarrod for your interesting hoon.
You know, I'm wondering why the Reserve Bank has SO much power. I understand why we have the various separations of power in our administration but I'd like big decisions like this one to be made by the government we voted into power.
It's so depressing thinking about people who will have mortgage sales and people becoming unemployed as a result of this.
As usual, people with plenty of money will not have their standard of living affected, or their home(s) in jeopardy.
I can't comprehend why the Reserve Bank has so much power either. I find it horrifying. Produces the image in my mind of Gallipoli - "do as you're told regardless of the outcome".
Maybe they're on a hidden mission to minimize junk to landfills ... doubt it.
Great discussion, thanks.
With national/federal elections in many G7 countries (& NZ) in 2023-24, could it be that these aggressive rate moves signal that CBs are looking to crush their economies in the immediate future, giving them space to begin cutting in the run-up to their respective federal/national elections, in support of the incumbent/sympathetic governments?
Central bankers know their appointment/autonomy is partially politically governed - especially in the US.
For NZ, I'd suggest RBNZ seeks to plausibly cut/pause OCR hikes in Q3 2023, which, added to the fiscal policy powder that Labour are keeping dry for the election run-in - would go a long way towards putting a Red spring in voting homeowners step ahead of the election.
Could well be these unregulated, unelected and antisocial banks and the hawks playing chicken with our lives simply shouldn’t have this much power and should work for NZ not cheap money handouts to offshore private banks and entities which we then have to pay higher margins on because they’ve given them too much.It’s just an outrageous scam and now they’re pretending to be grown ups. Badly. Keep an eye on banks and other profits because this performance will still work for all them no doubt. Such bs.
Just lots and lots of “bad actors” in more ways than one caught with their pants down when it comes to NZers money.
I don't know if sprinkling that powder is going to override the additional 10% decline in the value of those homeowners' roofs, which i find easily possible. After Bexley and Sandringham, Red also needs to somehow articulate a tougher on crime strategy to contrast and outshine nats penal colonies. It shouldn't be hard but I don't know if they have it in them.
Parsimony. If the laws and rights of children and carers where implemented instead of being largely unsupported and having to drag themselves up and invested in this simply wouldn’t occur. Or there would at least be some culpability but they’re so underinvested in and have so few rights enforced and just brutalised or abandoned by those they shouldn’t be that it’s just a simple equation and consequence now. We all know who won’t pay their obligations or play their part appropriately dont we. The Buck stops there as it were.
Plus they already breach our rights and fail in their job of governance, human rights and public service which we pay for so we really are just a colonised penal state.
Thank you Bernard, David and Jarrod for your interesting hoon.
You know, I'm wondering why the Reserve Bank has SO much power. I understand why we have the various separations of power in our administration but I'd like big decisions like this one to be made by the government we voted into power.
It's so depressing thinking about people who will have mortgage sales and people becoming unemployed as a result of this.
As usual, people with plenty of money will not have their standard of living affected, or their home(s) in jeopardy.
I can't comprehend why the Reserve Bank has so much power either. I find it horrifying. Produces the image in my mind of Gallipoli - "do as you're told regardless of the outcome".
Maybe they're on a hidden mission to minimize junk to landfills ... doubt it.
Is there no hoon tonight?