"Yesterday the Reserve Bank ... released a statement saying, 'The NZ economy continues to evolve as anticipated by the Monetary Policy Committee.' What a line coming from a Governor who told 'Bloomberg News' in the US in 2021, whilst he was busy printing $50 billion in cash, which is the primary cause of our current high inflation, that "The fear of the 70s, the 80s, stagflation, it is such a different world [now]." How amusing, given that stagnation, recession & inflation is exactly what we are now experiencing. How amusing that the RBNZ says our economy continues to evolve as anticipated when its forecasts could not have been proved more wrong.
"It gets worse. ..."~ Robert MacCulloch, from his post 'When will the Reserve Bank of NZ Stop Spinning and Stop Misleading Parliament and the Nation?'
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Thursday 11 April 2024
The Governor who printed $50 billion of inflation ...
1 comment:
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MacCulloch’s post is very good in this , and many instances. However the chap seems neither fish nor fowl. Especially in his latest offering complaining that ACT are not supporting the so called “nuclear family “.
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