0.9% fall in December (production account, seasonally adjusted). However, September was revised down as well – so similarish to a 1% fall. Bigger decline than the RBNZ expected, but about in line with the market. Expenditure account (old C+I+G+X-M) fell by 0.6% – but has fallen a lot further over the past year. GDP deflator …
Monthly Archive: March 2009
Permanent link to this article: http://www.tvhe.co.nz/2009/03/27/december-2008-gdp/
Mar
27
2009
December 08 quarter GDP out today
So, GDP is out today. The market expects a 1% fall, ANZ has gone as far as 1.2% (I’m talking about a quarterly seasonally adjusted fall – none of this annualised rubbish). Now, I’m not so sure. Yesterday’s current account deficit came in on the money, but the deficit as a % of GDP was …
Permanent link to this article: http://www.tvhe.co.nz/2009/03/27/december-08-quarter-gdp-out-today/
Mar
27
2009
Deficits, RBNZ, and the IMF
The IMF, in all its infinite glory and knowledge, has decided to give New Zealand some advice on fiscal and monetary policy. Here is my take on their sermon from the heavens.
Permanent link to this article: http://www.tvhe.co.nz/2009/03/27/deficits-rbnz-and-the-imf/
Mar
26
2009
Kneejerk reactions aren’t always the best
The American public/politicians swelled with outrage at the reports of AIG paying bonuses recently. Puffed up with anger, Congress decided to implement ad hoc measures to eliminate the bonuses. Was it a good idea? Well, in retrospect it seems ill-informed and badly judged, as Megan McArdle details: [T]he people who actually lost the money have, …
Permanent link to this article: http://www.tvhe.co.nz/2009/03/26/kneejerk-reactions-arent-always-the-best/
Mar
26
2009
Are nations just large labour unions?
We generally allow capital and goods to flow freely between nations nowadays – which is a good thing. However, that leaves us in the situation where the whole purpose of a nation appears to be working for the benefit of labour in that country. Now it may well seem like the best thing to do …
Permanent link to this article: http://www.tvhe.co.nz/2009/03/26/are-nations-just-large-labour-unions/
Mar
26
2009
Population control
A friend of mine has been banging on about population control as a way of curbing environmental harm for a while now, which has forced me to come up with some sort of opinion. I’m not persuaded by arguments that it is inherently abhorrent to restrict reproduction, or that people have a right to reproduce. …
Permanent link to this article: http://www.tvhe.co.nz/2009/03/26/population-control/
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