Friday Economics Joke
Economy
economy
Why bringing the bankers to heel is so important…
Ecological economist Brian Davey explains how while we need to fix the problems of peak oil and climate change, we’re not going to get anywhere until we deal with the psychopathic elite of bankers who have control of the world economy.
Still no plan
“Once in office, you’ve got to do something. That is why having a plan matters.” – Simon Power, 2011, valedictory speech to parliament
Trickle down
Key: “Of course, if we could have lower personal taxes, we think that would stimulate the economy – but we just can’t afford it”. But, if tax cuts stimulate the economy, you could make them self-funding. The 2010 tax changes were meant to pay for their net cost with extra growth. Didn’t happen. They’ve cost $1.1b so far. Does Key still buy this trickle down garbage or not?
How we got where we are
Last election we had a choice between competent economic management and a bunch of hollow promises. We made a poor choice then, and the record shows that we have wasted three years as a result. Coming up to this election we don’t need more tired Nat excuses, we need solutions. Bring back Labour!
Nat asset sales lies
Last night TV1 revealed National’s lies on the explosive topic of asset sales. The Nats have no official advice to back up their asset sales claims, and information is being withheld from the public. Not good enough – vote them out.
Five days to Save our Assets
Phil Goff said yesterday we had “Six days to save our assets” – now we have 5. Here’s what University of Auckland’s economics professor thinks about asset sales, and some more reasons why we desperately need to avoid a National-led government on November 27.
Economic credibility – mote and beam
The focus of attention has moved on to costing the policies, promises and projections of the major parties. The Nats’ are desperate to have the media focus stay on the mote in Labour’s eye, and ignore the beam in their own. In the interests of informed choice, let’s hear both sides of the story…
Labour shows us the money
Labour has shown us the money. In surplus in the same time frame as National, and paying off debt faster because we keep the revenue streams from owning our own assets.
Drunken Seaman John Key: borrowed $40 billion in 3 years to spend on his mates
NRT on the most important issue
NRT on the issue that is most important to Kiwis. It isn’t the economy.
Business isn’t buying it
You’d think if the Nats could convince anyone that they knew what they were doing it would be the business community. But no, less than 35% of business owners think that the government has a plan…
Do you feel lucky PREFU?
The PREFU paints a pretty dismal picture of the economy. The worst case scenario is catastrophic, and (at one in five) I think that Treasury has significantly underestimated the odds. Do you feel lucky?…
The austerity death trap
In response to tough economic times, Government austerity programmes do more harm than good. It’s a pretty simple equation based on the debt / GDP ratio. With an election coming up soon, NZ needs to look for economic competence and a willingness to try new ideas, rather than muddling along deeper into the austerity death trap.
Cameron cancels Key photo-op
David Cameron has cancelled his planned trip to Japan and New Zealand. He is facing a backbench revolt over European Union membership at the same time as he is trying to intervene in the crucial financial summit trying to sort out problems in the Euro zone on Wednesday. Oh well, one less photo op for John Key – perhaps its just as well as Britain’s future isn’t getting brighter.
A ludicrous budget
This family budget is in terrible shape. I can’t see any way out, can you?
National’s undeserved reputation
National are seen by many as the party of business, and thus the party of the economy, who know what’s best for the country’s wallet. But the statistics don’t add up. Their reputation is undeserved.
CTU on the tax switch
This press release from the CTU deserves wide discussion.
Doldrums
Looks like the RWC isn’t going to be the economic stimulus that we hoped. We’re stuck in the doldrums, and (just like in England) the government’s austerity programme is exactly the wrong response.
A PM but not a leader
In the last few days Key has refused to accept responsibility for NZ’s credit downgrades, stated that he is “not concerned in the slightest” about his possible breach of electoral law, and used an unfortunate incident in Parliament to launch an ugly attack on Labour. John Key is no leader.
Will Bill English heed his own warning?
Will double dipping double downgrade Bill English have the guts to heed his own warning?
Pollyanna
John Key’s relentless optimism is designed to make the country feel good, and to feel good about him – that nice man Mr Key. It doesn’t, however, solve our large economic problems.
Downgrade aftershocks continue
The credit rating downgrades have been quite a political earthquake, and the aftershocks are going to continue for some time.
Game on
The weeks of the RWC were supposed to be a politics-free zone. Bread and circuses. It hasn’t turned out that way, as both Armstrong and O’Sullivan point out in weekend opinion pieces. The credit downgrades have dropped a bomb in the middle of the political landscape. But I think that both are wrong in expecting any action from the Nats.
Nats warn of credit downgrade
The Nats have indulged in a long series of boastful posturings and dire warnings about the risks of a credit downgrade, many of them as recently as August 10th. Now that they have suffered not one, but two separate credit downgrades, Mr Smile and Wave has some explaining to do.
A Smidgen of Truth Escapes the msm
It’s not often that ‘bald truths’ escape the filtration of the msm. The video below is an example of one of those rare moments.
English on the economic turmoil
As most of the headlines this morning focus on the crumbling world economy, it was interesting to hear Bill English on RNZ. Among various inane comments there was one interesting gem, when English called for higher taxes…
Roaring out of recession
So here we are then. “Roaring out of recession”. Or – not.
The wrong problem
Economist Paul Krugman argues that governments the world over need to wake up to the fact that they’ve been trying to solve the wrong problem.
Counterpoint
I’ve just read Vernon Small’s piece today and I actually learned things from it, other than opinions plucked out of thin air by the author. Small explains the fiscal and economic challenges now existing that the next government will have to cope with and, with a nod and wink, tells us National is going to push out its date for getting back to surplus.
Ready for round two?
The global financial system, which has never properly recovered from the recession, is poised on the brink of a second crash. The headlines are a parade of bad news…
Update: US credit rating downgraded from AAA to AA+ with negative outlook (same as NZ). Announcement was made after close of markets. It’s gonna hit the fan on Monday.
Keynes vs Hayek debate at the London School of Economics
BBC Radio 4 in the UK has a very interesting debate pitting followers of Keynes vs those of Hayek
PSA launches myth busting campaign
The PSA is launching its election campaign this evening. Our big challenge is to break through the government’s narrative (now reaching mythic proportions) […]
All the World’s A Square
Some inspiration as Monday morning looms.
Boggled
I/S at No Right Turn on the public’s perception of the management of the economy, and National’s “dismal non-performance “.
Many a true word
Bill Maher on taxes, the deficit, and why 49% of Americans are voting away their future.