Cullen has lost the plot
Michael Cullen’s response to the global financial crisis has been woeful.
His solution was in good times to spend more of your money and in bad times spend more.
If Keynesian spending policies worked we would not have gone into recession a few months ago.
Even more red ink will not fire up investors or give them more confidence.
Sound economic management would.
The problem is this.
New Zealand is running a current account deficit of 7.5%.
The funds needed to sustain that level of deficit have now dried up.
New Zealand needs to make an adjustment and the government can play a big role in making that adjustment easier.
What Cullen has done is to make it a whole lot harder.
The National party response has been to make no response.
Cullen on one hand declared that the banks were safe and then underwrote them with your money.
He has also underwritten the finance companies totally distorting the finance markets.
That will produce a misallocation of capital right when we need it to be put to best effect.
I am meeting with the Governor of the reserve bank this afternoon to try and find out what Cullen has signed up for.
ACT will be giving a considered response tomorrow morning.
Sad huh. Look at John Key
Sad huh.
Look at John Key and Bill English, Sad huh. there is heaps of talent in National.
I'm sitting here feeling
I'm sitting here feeling stunned and amazed.
Why does everyone seem surprised that someone without a single "financial" neuron in his head cannot make satisfactory fiscal policy?
FACT: During the majority of the past 9 years, New Zealand has been part of a world-wide economic boom.
FACT: During this same 9 years, the New Zealand economy has not grown from strength to strength.
FACT: During this same 9 years, it has struggled on IN SPITE OF and not because of Labour.
FACT: The NZ economy has been STUNTED AND MAIMED at every turn by Cullen's ineptitude and Bollard's repeated inane interference.
At the start of their 3 terms, "Aunty" Helen stated they would bring NZ back into the top 20 countries in the OECD.
So what has really happened?
We have consistently SLIPPED further and further DOWN the list...to the point we are 30 odd places lower than where we were 9 years ago.
"It's a matter of trust"
Yeah, right.
Like anyone would trust someone who tells such complete LIES.
But, on the flip side, how much better [in real terms] will National be? Both parties are now so strongly centre-centre [in political terms] that it is difficult to separate one from the other.
You [and ACT] are the only ones to publish CLEAR and WELL THOUGHT OUT policy.
You are the only group who are anywhere other than centre-centre.
All the best on Saturday.
You have my party vote. I'd also vote for an ACT candidate, but there is not one standing in my electorate.
Post new comment