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Comments on: New Zealand budget 2009: Is there a cost from a downgrade? http://www.tvhe.co.nz/2009/05/28/new-zealand-budget-2009-is-there-a-cost-from-a-downgrade/ The Visible Hand in Economics Thu, 28 May 2009 08:14:10 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Web Design Firm vs. just a Web Designer? « Wepage Designer Blog http://www.tvhe.co.nz/2009/05/28/new-zealand-budget-2009-is-there-a-cost-from-a-downgrade/#comment-19951 Thu, 28 May 2009 08:14:10 +0000 http://www.tvhe.co.nz/?p=3894#comment-19951 […] TVHE » New Zealand budget 2009: Is there a cost from a downgrade? […]

]]> By: Web Design Firm vs. just a Web Designer? « Wepage Designer Blog http://www.tvhe.co.nz/2009/05/28/new-zealand-budget-2009-is-there-a-cost-from-a-downgrade/#comment-19952 Thu, 28 May 2009 08:14:10 +0000 http://www.tvhe.co.nz/?p=3894#comment-19952 […] TVHE » New Zealand budget 2009: Is there a cost from a downgrade? […]

]]> By: Interest Rates » TVHE » New Zealand budget 2009: Is there a cost from a downgrade? http://www.tvhe.co.nz/2009/05/28/new-zealand-budget-2009-is-there-a-cost-from-a-downgrade/#comment-19949 Thu, 28 May 2009 05:20:52 +0000 http://www.tvhe.co.nz/?p=3894#comment-19949 […] Read the rest of this great post here […]

]]> By: Andrew Coleman http://www.tvhe.co.nz/2009/05/28/new-zealand-budget-2009-is-there-a-cost-from-a-downgrade/#comment-19942 Thu, 28 May 2009 01:24:26 +0000 http://www.tvhe.co.nz/?p=3894#comment-19942 At the risk of sounding like a ten-year long broken record*, perhaps while we are worrying about the potential interest cost of a credit downgrade, we could think of the interest cost we have being paying for the last decade and a half by having our own currency. Our nominal and real interest rates have exceeded Australia’s by an average of 1 percent for at least a decade, which is costing New Zealanders at least $1.5 billion dollars in net terms, given our external debt. $1.5 billion a year is an awful lot to pay for the privilege of having Sir Edmund and Sir Ernest on our notes…… or else, we must believe that the incremental value of using 2, The Terrace rather than 65 Martin Place to stabilise the economy is worth more than $1.5 billion a year, a proposition that must be at least worthy of serious debate.

* A flat,black disc with two grooves that used to be used to store and replay music.

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