Stop the presses
Here's the thought for the day from NZ's Foundation for Economic Growth:
In 1988 our M3 money supply amounted to some $43,101 million. Twenty years later our M3 money supply had expanded to $201,273 million.
This is an annual compound interest rate of around 8%.
No wonder we are experiencing inflation.
Fighting inflation isn't hard -- it's easy. All you have to do is stop the Reserve Bank's printing presses.