Quantitative easing

Is Australia on the brink of economic collapse?

The Guardian has an interesting article about Australia and the dire financial situation it finds itself in.

Australia?always take defeat hard and to go into this week’s final Ashes test at the Oval three down with one to play is a bitter pill to swallow. But while those wearing the “baggy green” have been losing at Trent Bridge, Lords and Chester-le-Street, the Aussies have at least been able to take comfort from an economy that in recent years has out-muscled the old country in the way that the cricket team did when it was led by Steve Waugh.

The golden years for Australian cricket ended a decade ago. Decline was hard to spot initially although the warning signs were there: a lack of suitable replacements for great players and too great a focus on one-day cricket that resulted in sides being less familiar with the five-day format.

It may prove to be a similar story with the economy. Australia was one of the few developed economies to emerge from the global?recession?largely unscathed. Growth has been good for a quarter of a century, public debt is low, the banking system proved resilient during the?financial crisis?and it is one of only a handful of countries that still retains a AAA credit rating.? Read more »

Some quantitative easing in Chch?

Looks like Russel Norman has been in Christchurch cranking up the printing presses and doing a bit of quantitative easing.

It seems the police think this is called counterfeiting.

Retailers are being warned to look out for counterfeit $20 notes after four Christchurch stores were given fake cash.

Acting Detective Sergeant Mike Freeman said it appeared that the offender had bought items at large or busy Riccarton stores in the hope that the fake money would go unnoticed.? Read more »

Not a policy?

The Greens are trying to weasel out of their batshit crazy printing money policy by pretending it wasn’t really a policy.


SHANE: So just so we?ve got it clear ? you want the Reserve Bank to go out and print some new money to buy some earthquake bonds off the government. The government then would use that money to help with the Christchurch rebuild ? help build the sewers and the streets and that type of thing ? and also to go towards saving for our next disaster.

DR NORMAN: That?s right.

SHANE: In a nutshell.

DR NORMAN: In a nutshell, and those earthquake? Because the government wouldn?t be borrowing for those earthquake bonds from overseas, that reduces the pressure on the New Zealand dollar.? Read more »

The Green back-down didn’t last long

That so called back-down didn’t last long… Russel Norman on ZB last night defending printing money as a policy…

If you think the Green party has abandoned their policy you are sadly mistaken. As soon as Russel Norman is Co-Prime Minister and Finance Minister the printers will start churning out the dollars. ? Read more »

The Civilian on the Green’s flip flop

The Civilian has a post about the Green’s flip flop on printing money willy-nilly. I’m not sure it is satire, it seems very accurate.

Green Party co-leaders Russel Norman and Metiria Turei have admitted today that their policy of printing fake money and using it to pay for things was ?not our best idea,? though they did believe it was ?certainly up there.?

While the co-leaders said they were disappointed that the police had caught them attempting to purchase seven truckloads of Pink Batts with forged notes, they acknowledged that it was ?time to give it up? and ?move onto something else.?

For half a year now, under the direction of Norman, the Green Party has been forging counterfeit money and using it to purchase things as part of what it calls a ?quantitative easing? scheme to help alleviate the cost of the Christchurch rebuild and bring down the New Zealand dollar.? Read more »

Why the whole banking system is a scam – Godfrey Bloom

Impertinent Questions about David Shearer and his overseas cash stash

via 247sports.com

via 247sports.com

Why is David Shearer operating an overseas bank account brimming with cash?

Why isn’t he transferring it to New Zealand?

Could it be that he knows his money is safer overseas?

Does he want to keep it safe from Quantitative Easing?

Does he want to keep it safe from rampant inflation?

Does he want to keep it safe from the effects of the Green/Labour economic sabotage?

Is this just the beginning?

Is there more to come?

Quantitative easing John, that’s how

John banks wants to know where the $670 million dollars are going to come from to pay for the Green/Labour Kiwi-Power plan. ?The answer is simple. ?Russel Norman will be manning the money printing press on Day One and he won’t stop until everything is paid for.

ACT Leader John Banks today called on the Labour and Green parties to ?please explain? the $670 black hole in their plan to nationalise the electricity sector.

?These parties claim their plan will reduce household electricity bills by up to $750 million a year. But there is no such thing as a free lunch.? That money must come from somewhere and someone must be worse off,? Mr Banks said.

?The Greens state their policy will only cost the Government (i.e. taxpayers) $80 million a year.? So where is the other $670 million a year coming from?

When costing policy, Greens and Labour have never reached for the calculator.


Russel Norman needs some remedial lessons

Russel Norman is being particularly stupid today on Twitter:

It seems to me he needs a remedial lesson in Quantitative Easing.? Read more »

Breath-taking Hypocrisy

That champion of fiscal responsibility, Russel Norman, puts on a tie and channels his inner Mitt Romney in yesterday’s Herald.

The party that would strangle the Dairy industry in regulations; stop mining and drilling, tax the rest of us into righteous poverty, and spend anything left over on dingbat Green energy schemes and inquiries, pontificates: ? “New Zealand should live within its means.”

Last month, I outlined a plan to address our high exchange rate – a plan that would protect our productive industry here at home while making our exports more competitive abroad.

As a nation we have to live within our means. For the last 30-odd years, we’ve almost forgotten what this looks like. Successive governments have chosen to turn their backs on this difficult truth, preferring to run the economy through increased borrowing from offshore or by selling our assets offshore.

What a sanctimonious f*ckwit. After advocating pumping billions of funny money into the economy he now says we should live within our means…wuite how we are supposed to do that after he dumps those billions on the market is beyond me.

One way of giving NZ a chance of living within its means would be to make sure that Russell never gets his hands on your wallet.

And as for his cornerstone policy of?hauling out the xerox machine and printing a few billion dollars – Japan is the world champion at that, and they are at it again.

How’s Russell’s policy working out?for?them??? The Japanese economy has been flat-lining for 25 years.