Comments on: Monetary Policy Reform

By: John Ryall

John Ryall — Fri, 20 Nov 2009 10:24:16 +0000

Phil/David – It’s good to see the consensus has been broken. The single focus on fighting inflation has meant NZ has been a major attractor of hot money while our productive sector has suffered through abnormally high exchange rates.

This direction needs to be built on.

The NZCTU has written a draft Alternative Economic Strategy which is going to be the subject of a number of seminars of union members around the country during the first half of next year.

Some of the ideas in this paper mesh in with the new thinking put forward in Phil’s speech.

By: Falafulu Fisi

Falafulu Fisi — Fri, 20 Nov 2009 04:13:58 +0000

I think that the Reserve Bank should be abolished altogether. The market will work fine without any central control. The followings may be an interesting reading for all of you policy-makers (both left & right). Note the conclusions of the findings from the paper which stated (page 2, last paragraph) that: ...flexible exchange rate regimes policy makers have more degrees of freedom to absorb shocks into the economy, as exchange rates may absorb partially such shocks.. In other words, flexibility means, that no central control at all. Econophysics of interest rates and the role of monetary policy

By: millsy

millsy — Fri, 20 Nov 2009 02:08:05 +0000

…and the media reaction begins, already the business sector and the government are ripping into Phil Goff with the fervour of Red Gaurds denouncing counter-revolutionaries.

Over the coming weeks we will have the editorials of the country’s newspapers taking their turn in the mass denounciation of the heretic Mr. Goff.

By: BLiP

BLiP — Fri, 20 Nov 2009 02:07:14 +0000

Actually – make that the last 20 years.

By: BLiP

BLiP — Fri, 20 Nov 2009 02:06:07 +0000

This is the smartest thing I’ve seen the Labour Party do in the last 10 years.

By: kenny

kenny — Fri, 20 Nov 2009 00:57:37 +0000

Phil Anderson

I think you may be one of those who caused the problem…definately not one to find a solution.

By: Pascal's bookie

Pascal's bookie — Fri, 20 Nov 2009 00:20:52 +0000

“he’s a social-credit relic”

Now where did I see Terry Heffernan lately?

By: Phil Anderson

Phil Anderson — Fri, 20 Nov 2009 00:15:03 +0000

Michael Rowbotham

I’m sure Mr Rowbotham is a nice person, but as far as economics goes he’s a social-credit relic, part of a bygone era of lousy idea’s well past used-by date.

As for ‘forecast our current economic difficulties 10 years ago’, I can’t help but laugh. Ever heard of the Boy who cried Wolf?

By: kenny

kenny — Thu, 19 Nov 2009 23:51:53 +0000

For some useful and interesting ideas read ‘The Grip of Death’ by Michael Rowbotham who forecast our current difficulties 10 years ago.

Also Selwyn Pollett’s Productive Economy Commitee, and the Swedish Riksbank site.

Go,go,go… at long last!

By: peteremcc

peteremcc — Thu, 19 Nov 2009 20:42:09 +0000

Just to be clear, you’re complaining about high interest rates AND low rates of saving?

And the way to increase rates of saving is by reducing interest rates?

Bill English’s 21% is starting to look quite impressive!