tag:blogger.com,1999:blog-11906042.post4208837010828341604..comments2024-03-30T00:09:27.602+13:00Comments on Not PC: Grand Coalition?Peter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-11906042.post-77324238366740454872008-10-29T13:18:00.000+13:002008-10-29T13:18:00.000+13:00Unbelievably ... I'm going to agree with you again...Unbelievably ... I'm going to agree with you again.<BR/><BR/>You're dead right.<BR/><BR/>When you need capital you don't lower interest rates, you raise them.<BR/><BR/>When you want to "protect" the financial industry you don't make promises that protect the riskier end of lending, and that discourage the more sober operators.<BR/><BR/>You're right: You shouldn't need a think tank to tell you that.Peter Cresswellhttps://www.blogger.com/profile/10699845031503699181noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-17547883260861431832008-10-29T13:05:00.000+13:002008-10-29T13:05:00.000+13:00O'Sullivan:The NZ dollar is already worth 40 per c...O'Sullivan:<BR/><I>The NZ dollar is already worth 40 per cent less than its peak value in US currency just months ago. The "smart money" got out when the dollar was peaking around the US80c mark.<BR/>Now that AXA and other funds are freezing redemptions - while the Reserve Bank and Treasury try to come up with a Government guarantee scheme to keep financial pipelines open - the crisis has entered a new phase.</I><BR/><BR/>No way! I wonder if she connects her championing of lowering the OCR and deposit guarantees with this. I doubt it.<BR/><BR/>The deposit guarantee scheme is already distorting the market - as we see with AXA. Private opinion is that the market is now absolutely screwed. Share broking houses(the white-shoe car salesmen of the finance industry) have now thrown their hats in the ring, wanting to be guaranteed as well.<BR/><BR/>The NZ taxpayer could potentially be bailing out every piece of crap that moves. And with the guarantee extended to wholesale the country could well be technically insolvent.<BR/><BR/>And O'Sullivan now wants a 'think tank' to sort out the inevitable results of what she promoted - UNBELIEVABLE.Anonymousnoreply@blogger.com