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Comments on: More talking from the PM – why? http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/ The Visible Hand in Economics Tue, 09 Dec 2008 23:58:09 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Matt Nolan http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3960 Tue, 09 Dec 2008 23:58:09 +0000 http://tvhe.wordpress.com/?p=2276#comment-3960 “thus I think he has to be especially careful when discussing the OCR”

Indeed. However, I don’t think we can let his background be an excuse. Surely the fact that he has knowledge about financial markets will simply give what he says even more weight – hence why off the cuff statements are even more dangerous!

]]> By: DG http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3964 Tue, 09 Dec 2008 21:32:36 +0000 http://tvhe.wordpress.com/?p=2276#comment-3964 Given Key’s background he simply can’t help himself. I don’t mind him expressing an opinion as long as he does not give the impression that he is directing the RBNZ, thus I think he has to be especially careful when discussing the OCR.

]]> By: Matt Nolan http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3961 Tue, 09 Dec 2008 19:07:52 +0000 http://tvhe.wordpress.com/?p=2276#comment-3961 “Oh come on, didn’t Cullen spend most of 2006 trying to talk down the dollar? He and Bollard went cap-in-hand to the Japanese begging them not to buy more Uridashis as I recall. Frequent statements that our dollar was too high and investing in NZ was a risky business were the order of the day as I recall.”

Yes – and that annoyed me very much 😛

In fact, I think that showing the Dr Cullen did the same thing is more likely to support my point that it is inappropriate than to go against it 😉

]]> By: Dave http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3963 Tue, 09 Dec 2008 09:46:41 +0000 http://tvhe.wordpress.com/?p=2276#comment-3963 Here we go:

http://www.iht.com/articles/ap/2007/07/17/business/AS-GEN-New-Zealand-Currency.php

Cullen said the current New Zealand dollar rate against the U.S. dollar is too high and currency investors need to realize the risk they face.

“Those people pushing money into the New Zealand dollar have to realize the correction will occur at some point and they’re exposed to risk around that,” he told reporters.
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Cullen said when the dollar does fall it will probably fall back to an undervalued position.

]]> By: Dave http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3962 Tue, 09 Dec 2008 09:43:21 +0000 http://tvhe.wordpress.com/?p=2276#comment-3962 Oh come on, didn’t Cullen spend most of 2006 trying to talk down the dollar? He and Bollard went cap-in-hand to the Japanese begging them not to buy more Uridashis as I recall. Frequent statements that our dollar was too high and investing in NZ was a risky business were the order of the day as I recall.

]]> By: Interest Rates » More talking from the PM - why? « The visible hand in economics http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3966 Tue, 09 Dec 2008 03:55:54 +0000 http://tvhe.wordpress.com/?p=2276#comment-3966 […] Read the rest of this great post here […]

]]> By: goonix http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3965 Tue, 09 Dec 2008 03:28:40 +0000 http://tvhe.wordpress.com/?p=2276#comment-3965 “This is very interesting.
It is my contention that John Key is not here to govern the New Zealanders but rather to serve his money masters.
The international financial elite wants to replace all currencies with one currency, effectively ruling the world and killing off local democracies.
Is John Key setting a destabilisation in motion in order to force New Zealand to follow suit when the bankers make their move?”

I lolled.

]]> By: Matt Nolan http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3968 Tue, 09 Dec 2008 02:11:07 +0000 http://tvhe.wordpress.com/?p=2276#comment-3968 I wouldn’t take such a conspiracy theorist view of it – instead I would put it down to the PM being new at the job, and needing to get told to avoid this sort of thing.

Helen Clark was the same when she first came in I might add.

However, that does not change the fact that I think the importance of keeping quiet on these things has to be explicitly explained to him by Treasury – his power over expectations now that he is PM is more powerful than he might realise.

]]> By: travellerev http://www.tvhe.co.nz/2008/12/09/more-talking-from-the-pm-why/#comment-3967 Tue, 09 Dec 2008 02:07:33 +0000 http://tvhe.wordpress.com/?p=2276#comment-3967 This is very interesting.
It is my contention that John Key is not here to govern the New Zealanders but rather to serve his money masters.

The international financial elite wants to replace all currencies with one currency, effectively ruling the world and killing off local democracies.

Is John Key setting a destabilisation in motion in order to force New Zealand to follow suit when the bankers make their move?

]]>