No Minister

Money printer go brrrrr…….

News out from NZ Stats this morning:

The consumers price index rose 2.2 percent in the September 2021 quarter, the biggest quarterly movement since a 2.3 percent rise in the December 2010 quarter, Stats NZ said today.

Excluding quarters impacted by increases to GST rates, the September quarter movement was the highest since the June 1987 quarter, which saw a 3.3 percent rise.

The 2011 kick was due to the National government increasing the rate of GST from 12.5% to 15%.

This one is due to “money printer go brrrrrrr……..”

Speaking of which, let’s go back a decade to the wonderful Clarke and Dawe comedy bit on the last time we indulged in “Quantitative Easing” to compensate for something that was only slightly less insane than government locking down an economy.

Written by Tom Hunter

October 18, 2021 at 12:15 pm

10 Responses

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  1. I guess too many people believe in the magical money tree

    but if you shut down the productive base of the economy and while expanding the parasite classes and employing a bunch of worker bees to chase down elusive viruses that are hard to find because they don’t make most people sick enough to notice they have them…

    …then as night follows day inflation follows

    Personally I think this is just the beginning of a very rough ride to come

    Andrei

    October 18, 2021 at 1:10 pm

  2. Hmmmmmm … and I see ACT (the Party of fiscal rectitude so called) has proposed giving a tax break to all double dosed Kiwis calculated to cost in the the order of $750m. All that’s left is for Labour to match that (and double it for Maori. Still, as Tom said … with the money printers going brrrrrr what’s a little brrrrr, brrrrr between friends.

    The Veteran

    October 18, 2021 at 1:28 pm

    • I had to look that one up. A one-off tax break worth $250.

      FFS! Two alternative answers to this news.

      First, it’s just politics as usual. Seymour keeping ACT in the news via Covid bait he knows social media and MSM can’t resist. He’s not in power and by the time he is this will be forgotten. If the government were crazy enough to do this he could take credit.

      Second, he’s entirely serious about this because he’s fully on board the vaccination train as the only one leaving the lockdown station. Based on other comments he’s made I’m betting this is the real answer and as we struggle along towards 90% they’ll be even crazier suggestions from him, as well as from other politicians.

      Tom Hunter

      October 18, 2021 at 1:40 pm

    • Well as I said on another thread David Seymour is just Jacinda Ardern with a “Y” chromosome.

      The Actoids accused me of talking nonsense but I guess they vote according to brand loyalty

      Andrei

      October 18, 2021 at 1:49 pm

    • Heard Seymour on Newstalk ZB this morning. His current spin is that anyone not wanting to get vaxxed are gullible and being taken in by what they read online. While as he reads medical journals online, so you should believe him.

      Lucia Maria

      October 18, 2021 at 2:19 pm

  3. Actually, as a general rule, I hope a future National/ACT government just bluntly states that it’ll borrow money for tax cuts.

    After all, piling up the debt is clearly something the Left don’t care about as they pursue their goals, so having a National/ACT government that promises to be all fiscally conservative and draw down the debt is just playing into the Left’s hands.

    After six or nine years of creeping along the debt reduction path, with no tax cuts and extra burdens, we’ll simply reduce it a level where a future Labour government can just blow it all again.

    I’m sick of playing that game.

    Tom Hunter

    October 18, 2021 at 1:43 pm

    • Hope away my friend, history tells us when National gets in they will just pick up from where Labour left off

      Nothing changes the debasement of New Zealand continues as it morphs into Aotearoa

      Andrei

      October 18, 2021 at 1:53 pm

  4. It looks like all the stuff I predicted would happen after the first lockdown will happen after this one.
    I’m glad I wrote it all down then, and took precautions to minimize the effects.

    Uncoffined

    October 18, 2021 at 2:38 pm

    • I have to admit that I’m surprised it’s taken until now for this to kick in.

      Tom Hunter

      October 18, 2021 at 8:27 pm

  5. I no communism, but Karl Marx was right. Human labour is the source of all value. Scottish enlightenment pimp Smith introduced this idea too. When you imprison a nation, you are killing wealth creation. Whilst we were/are locked in our homes waiting for the 1pm bible thumping lecture, we getting poorer, whilst the asset fat cats clean up. NZ version of QE is like injecting a dead horse with Vaccine. Not going to work.

    pb

    October 19, 2021 at 1:20 pm


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