The above heading quoted from the New Zealand Herald's BusinessHerald lead article (6 July 2011) just highlights what an absolute mess New Zealand's economic & financial system is in (let's include the world).
It's obviously a no win situation - we've had no confidence, no growth, no jobs, no pay increases (so depressing), low interest rates (that part is good) and that's given us lower inflation, and now a climb in confidence, a robust recovery, more jobs, higher pay (so exciting ... not for long), higher prices, higher interest rates (and that is not so good) and that gives us higher inflation.
If you've been reading newspapers ( hard copy & online) as long as I have, you'd see that nothing has changed in the world of economics, finance and politics. The problems are the same. The small array of solutions that are offered are the same and as each so called solution is implemented the results are the same ... we all get older and collectively deeper in debt.
Show Me the “Monetary Reform” David Cunliffe! Following Phil Goff’s release of Labour’s Finance Manifesto today, David Cunliffe has said in a New Zealand Labour Party press release : “Labour is backing the drive for more high value exports with monetary reform ...” I challenge David Cunliffe, Labour’s Finance Spokesperson, to front up and explain what he means by the term ‘monetary reform’. If he means replacing toxic debt-based commercial bank credit with social credit, as the sole means of money coming into existence and continuing to exist – issued in the public interest, to serve the common good - then I would endorse his definition. And if he accepts that it’s crazy for our government to borrow from foreign lenders, with interest, when we could use the publicly-owned Reserve Bank of New Zealand as an independent statutory monetary authority with the sole power to create, issue, and cancel New Zealand’s money, then I applaud his endeavours. But if Mr. Cunliffe thinks ‘mo
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