Posts by Neil Smart
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Possibly maybe even probably but no matter we agree.
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Forgive me for doubting you Russell:
I also took him up on his comments about peering. In New Zealand, I pointed out, the two major carriers had ceased open peering with anyone but each other, and basically broken the network.
I touught that the concept of peering had fallen on deaf ears from the tenor of your post after you attended the Auckland City Link on the subject. I should have had more faith perhaps.
Not quite up to the All black's recovery on Sunday morning or Team NZ renewed cahallenge today but close!! -
I think a lot of people think that when they hear the Reserve Bank spent $1bln intervening in the markets then that's money out the door?
I don't object to the tinkering but do not believe it will solve the problem. I also believe you cannot solve the problem in NZ by applying economic orthodoxy. Milton Friedman is dead and so may be some of his ideas. They may still apply for an econmy the size of Europe or the United States but not for NZ.
would be that the banks would be able to finance cheap mortgages domestically and wouldn't need to go to overseas lenders.
This is where I think economic orthodoxy is wrong. The extra money is coming in because we offer a high return. Stop it and you stop the problem.
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Sorry guys read the post again.
The problem is oversupply. NZ is a small market and money is coming here because we pay the best rate of interest in the OECD. If you reduce the cash rate and lower interest rates the oversupply will dissappear so you will not get an inflationary spiral in our Housing market. Do not use economic orthodoxy. -
Obviously not the most interesting subject given the number of responses?
Surely the answer is to fly in the face of economic orthodoxy. Is this not the time for a new Keynes or Friedman to appear?
Surely the problem is caused by the US exporting its inflation to the rest of the world. It is a supply side problem not a demand side problem. I seem to remember that if a large exporter subsidises a product i.e. EEC props up corn prices the world price drops by the value of the intervention (subsidy). Surely the US is the largest supplier of money? So when the market drops as it surely must NZ will have devalued our currency?
Housing inflation is a problem, suffered by most western democracies. The Reserve Bank Gov is an economist who thinks the problem is a demand for cash. The real problem is an oversupply of money looking for high returns , which NZ provides.
Inflation will increase if there is too much money in the economy so trying to fix a worldwide problem in the niche market of housing by raising the price in NZ is useless.
So turn the problem round. Make it unattractive for the borrowers to lend to Kiwis! Lower the cash rate too below a level where it is attractive to lend in the NZ market.
The money will look for a better return (perhaps Australia) the dollar will drop as the lenders chase the higher returns and pull their cash out of NZ. The net effect of this would be to take away the oversupply of cash available to the housing market and allow exporters to go about their business.
As you can gather I am not an economist but short of tinkering like the Reserve Bank is doing or legislating against property speculators it is about all that is left without sending the rest of the economy into a tailspin!!
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"I still find something a little tragic about a party whose flagship policy will be to restore the "right" to hit children."
I am amused Russell does this reflecrt your own spin?
I find it funny how the words people use to describe this piece of legislation reflects their view or the comment they are making .
Tthe media response to the legislation is just as bizzarre.TV One still refer to it as the anti-smacking bill, while TV Three and Natonal Radio now refer to the legislation as the "Parental Control Bill".
It may reflect their editorial stance!!
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Russell
You are so right about Ralston. He was a real "bah humbug" self serving rubbish. TVNZ news and current affairs is not superior. Cambell Live consistently outshines TV one's Close up often on the same story lines and with I suspect far less money.
Mark Sainsbury has improved things but it is the content that is at fault. The only point Ralston made that was worth listening to was that there are probably too many lawyers accountants and HR people. But that is not really the issue which is programme quality in all areas. -
I have sympathy with the gay community over the quality of TVNZ programming. It has declined over recent times in all areas.
Let us hope the Tony Holden's departure will take us away from second-rate American drama and endless meaningless reality shows with people like John Banks airing their prejudices for everyone who has a stomach for it to see.Some of the programming put on after 11.pm is all that makes it worth while some excellent dramas and a couple of Sunday's ago a really good documentary on Dyslexia that started at 11.30 and finished at about 1.30am. I know it is not politically correct to label people with a condition but if the estimates of people affected by Dyslexia are only half true then surely this excellent documentary was worth some prime viewing time. On the same evening during the 6.30 to 7.30 spot we were subjected to yet another “location ,location ,location” surely we have uncovered all the secrets of property purchasing?
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Is the only thing worth talking about in Auckland an earthquake! Poor buggers life must be boring
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"Since we've just removed a bunch of license requirements from the elderly, who are scientifically proven to be lower and less acute than the young, and are the fastest-rising group of ftalities and injuries on the road, that would be a bit of a contradiction of policy trends."
I thought the Unicef report was about amongst other things death and injury to young people not the elderly.
You may not have noticed the news so here area couple of recent articles:Teen driver hospitalised with shock after crash - New Zealand ...A 15-year-old learner driver who ploughed into a group of children and their grandmother has ... Although Dominique Pennington was not seriously injured, ...
www.stuff.co.nz/3966249a10.html - 29k - 17 Feb 2007A teenage girl has died after falling off the back of a car packed with young people near Whakatane last night. The vehicle swerved, causing the 13 year old ...
www.tv3.co.nz/News/NewsDisplay/tabid/209/articleID/21501/Default.aspx - 18 Feb 2007 -