I thought I had made up a new word, but I was wrong. Squanderlust came to mind, but I found it is used in the English language: A strong desire to waste one’s financial resources. This word fits with Grant Robertson’s financial management of the government’s books.
Dario Perkins, a seasoned economist and the managing director of global macro at Lombard, a leading research firm from London, describes the United Kingdom’s debt as the ‘moron risk premium’.
Perkins tweeted: “The problem isn’t that the UK budget was inflationary, it’s that it was moronic. And a small open economy that seems to be run by morons gets a wider risk premium on its assets – currency down, yields up.” The term moron premium emerged in the UK financial context during the economic turmoil of 2022. Dario Perkins, a prominent macroeconomist, notably stated in June 2025 that “something has really gone profoundly wrong in the UK”.
Grant Robertson, the former NZ finance minister from 2017–2023, was interviewed on Q+A on 17 August 25 by Jack Tame. This interaction with Robertson confirmed New Zealand, another small open economy, also seemed to be run by morons during the Covid years.
Under Robertson, net core Crown debt reportedly tripled from NZD 58 billion (18.6% of GDP) in 2019 to NZD 175 billion (42.5% of GDP) by 2023, with forecasts of NZD 185.6 billion (42.7% of GDP) by June 2025.
Both NZ and the UK face rising unemployment and huge cost of living pressures. When questioned, Robertson shamelessly defended his high level of spending replying, “No, we either paid in money or lives.”
Robertson expressed no regret over the Labour Government’s excessive spending, emphasising that the increased borrowing during Covid was necessary. And with true form of ‘a strong desire to waste NZ financial resources’, the squanderlust, said he should have gone even further to mitigate economic and social harm. He wished he had spent even more!
This obviously well-rehearsed answer riled Kiwis enough to put fingers to the keyboard to voice frustration. Here is an article in The Good Oil by Cameron Slater.
It is recognised Robertson’s spending was initially supported by Treasury and had cross-party backing for wage subsidies. However, Treasury’s 2025 report criticised continuing the stimulus post-2020 as exacerbating inflation and debt without sufficient targeting. Nicola Willis, the current minister of finance echoed this, claiming Robertson’s ‘undisciplined spending’ fueled the cost-of-living crisis.
The NZD 175 billion debt by 2023 strained Willis’s budgets, with debt-serving costs at NZD 8.9 billion annually.
In global terms, maybe Robertson is impressed with President Ibrahim Traore, the new president of Burkina Faso regarding his country’s debt? In Traore’s recent bold (and questionable style) speech to the IMF, he proudly states, “we are debt free”. Marxist and Muslim Traore, the new face of Africa, says he refuses to repay what is owed, after he took control of Burkina Faso, Africa, in a military coup.
Eliora is a fourth-generation Kiwi is a conservative voter and has worked in health. This article was first published HERE
Perkins tweeted: “The problem isn’t that the UK budget was inflationary, it’s that it was moronic. And a small open economy that seems to be run by morons gets a wider risk premium on its assets – currency down, yields up.” The term moron premium emerged in the UK financial context during the economic turmoil of 2022. Dario Perkins, a prominent macroeconomist, notably stated in June 2025 that “something has really gone profoundly wrong in the UK”.
Grant Robertson, the former NZ finance minister from 2017–2023, was interviewed on Q+A on 17 August 25 by Jack Tame. This interaction with Robertson confirmed New Zealand, another small open economy, also seemed to be run by morons during the Covid years.
Under Robertson, net core Crown debt reportedly tripled from NZD 58 billion (18.6% of GDP) in 2019 to NZD 175 billion (42.5% of GDP) by 2023, with forecasts of NZD 185.6 billion (42.7% of GDP) by June 2025.
Both NZ and the UK face rising unemployment and huge cost of living pressures. When questioned, Robertson shamelessly defended his high level of spending replying, “No, we either paid in money or lives.”
Robertson expressed no regret over the Labour Government’s excessive spending, emphasising that the increased borrowing during Covid was necessary. And with true form of ‘a strong desire to waste NZ financial resources’, the squanderlust, said he should have gone even further to mitigate economic and social harm. He wished he had spent even more!
This obviously well-rehearsed answer riled Kiwis enough to put fingers to the keyboard to voice frustration. Here is an article in The Good Oil by Cameron Slater.
It is recognised Robertson’s spending was initially supported by Treasury and had cross-party backing for wage subsidies. However, Treasury’s 2025 report criticised continuing the stimulus post-2020 as exacerbating inflation and debt without sufficient targeting. Nicola Willis, the current minister of finance echoed this, claiming Robertson’s ‘undisciplined spending’ fueled the cost-of-living crisis.
The NZD 175 billion debt by 2023 strained Willis’s budgets, with debt-serving costs at NZD 8.9 billion annually.
In global terms, maybe Robertson is impressed with President Ibrahim Traore, the new president of Burkina Faso regarding his country’s debt? In Traore’s recent bold (and questionable style) speech to the IMF, he proudly states, “we are debt free”. Marxist and Muslim Traore, the new face of Africa, says he refuses to repay what is owed, after he took control of Burkina Faso, Africa, in a military coup.
Eliora is a fourth-generation Kiwi is a conservative voter and has worked in health. This article was first published HERE
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