At best, one or two old Werther's Originals.
As we’ve been talking about for the last few weeks, this government can’t, politically, splash cash when oil’s forcing inflation up.
The $60 billion borrowed and spent during the pandemic, half not actually on COVID expenses, was fuel on the fire to an already raging inflation inferno.
The Reserve Bank and government were both blowing into the same sail. It got us up on the foils for a while but ultimately just delayed the pain we’re now still feeling.
The new Governor, imported from Sweeden, will give a key speech later this morning after the market opens with a hint of how they’ll react to the latest international catastrophe to reach our shores.
Any whiff of central government is planning to borrow and spend to cushion the blow would complicate her job.
The reality is, when the shite hits the fan, things get messy. Somebody has to pay. There is no free ride, no free bus. No free train.
If we don’t pay today, we’ll pay tomorrow.
And let’s not forget, we’re now officially on notice from at least one of the big rating agencies.
We need to be cutting, not borrowing.
Balancing the books, not setting them in fire. Again.
Ryan Bridge is a New Zealand broadcaster who has worked on many current affairs television and radio shows. He currently hosts Newstalk ZB's Early Edition - where this article was sourced.
2 comments:
Well if there is a podium of truth with sign language, then we know how stuffed we all are. In other countries they are moaning about the cost of petrol but they are not getting fed threats of level one, level two and level three. They might choose to drive less or buy an electric car long term. Does anyone else feel really trapped living in nz? Inagine hipkins salivating at the podium of truth. " If you live on streets a b and c you can leave home today..Others stay at home and wait until advised" There will be the usual sheeple saying that hipkins is keeping us safe.
And its just got worse anonymous 0833.
Instead of doing their jobs and investigating the Australian owned NZ petrol companies' obscene, price gouging, profit margins:
Luxon and.Willis just announced they're giving the Australians another $7m of NZ taxpayer backed borrowed money!
Looks like a couple more "soon to be" ex nz politicians are planning retirement with Ardern in a swanky expensive Australian suburb.
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