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Comments on: Mar 12: Weak labour market, what’s to be done? http://www.tvhe.co.nz/2012/05/03/mar-12-weak-labour-market-whats-to-be-done/ The Visible Hand in Economics Mon, 07 May 2012 21:04:49 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: A cut to the OCR, why? » TVHE http://www.tvhe.co.nz/2012/05/03/mar-12-weak-labour-market-whats-to-be-done/#comment-37724 Mon, 07 May 2012 21:04:49 +0000 http://www.tvhe.co.nz/?p=6924#comment-37724 […] down output and thereby inflationary pressure), low measured inflation, falling commodity prices, a weak labour market, and signs that the recovery in the housing market is not infallible all suggest that the […]

]]> By: Carter http://www.tvhe.co.nz/2012/05/03/mar-12-weak-labour-market-whats-to-be-done/#comment-37682 Thu, 03 May 2012 06:07:06 +0000 http://www.tvhe.co.nz/?p=6924#comment-37682 So you say NZ govts have not made policy failures just overseas govts have ! > are you crazy ?

]]> By: Carter http://www.tvhe.co.nz/2012/05/03/mar-12-weak-labour-market-whats-to-be-done/#comment-37681 Thu, 03 May 2012 06:01:13 +0000 http://www.tvhe.co.nz/?p=6924#comment-37681 ANZ predicting the cash rate was likely to rise is one thing, but they went on a crusade through the media promoting their prediction while other economists were not so brash and said it could go either way.
You say Matt you’d like to see the official cash rate be reduced which I agree with. the governor didnt want to create any market activity so i believe probably did the right thing as much as you and I would like it lowered. 
We disagree on the ETS as i see it as an actual economic liability govt have stupidly agreed to
 they should have stalled on it at least and certainly not have been 1st to adopt.
The unemployment increase is not acceptable among our youth. Government merely borrowing money to dole out to 83000 who are not even in any form of training is a recipe for social disaster which of course will have “an Economic Cost ” far greater later on.
20,000 places in one of this govts youth training job ntiatives doesnt come any closer to dealing with the numbers than Labours small time apprenticeship training increases of 5000 one year and another few thousand the next.
No training=no job=countries cost.
Cheers
Carter

]]> By: Matt Nolan http://www.tvhe.co.nz/2012/05/03/mar-12-weak-labour-market-whats-to-be-done/#comment-37675 Thu, 03 May 2012 02:00:48 +0000 http://www.tvhe.co.nz/?p=6924#comment-37675 In reply to Carter.

“The chief ANZ economist was madly touting that interest rates should go up a few weeks back.”

I believe they were stating two things which were entirely reasonable:

  1. At the current cash rate, there is upward pressure on interest rates due to funding pressures
  2. The cash rate is likely to rise

This have changed, but their story is pretty consistent 🙂

“Like why would you introduce another tax like the ETS into an economy during a depression?”

The ETS was to cover a liability we have agreed to take on – we would have to pay for it one way or another.

The government doesn’t run the economy, in the slightest.  It is unfortunate that people are unemployed, and massive policy failures are in part to blame – but these are failures overseas, not failures of any of the governments New Zealand has had in recent years.

 

]]> By: Carter http://www.tvhe.co.nz/2012/05/03/mar-12-weak-labour-market-whats-to-be-done/#comment-37674 Thu, 03 May 2012 01:39:20 +0000 http://www.tvhe.co.nz/?p=6924#comment-37674 The chief ANZ economist was madly touting that interest rates should go upa few weeks back. Luckily the officila cash rate remained static.
I agree governments don’t make good pickers of winners in the economy but that doesn’t mean they can turn their backs on the obvious. Like why would you introduce another tax like the ETS into an economy during a depression?
Why would you let your 4 state owned power cos run amuck with escalations in the price of power ?(Now we pay twice the KwH price they do in the USA.
Why continue to gouge so much goverment taxation out of alitre of fuel?
Why continue to pay benefits for no work at all to people merely because it is fiscally chaepaer than to organise them to do work for the money ?
Money for nothin. NZ anthem should be that old Straits song. Haaa
Maybe John Key and Steven Joyce don’t care that youth unemployed and untrained doing nothing will cost this economy much more if they continue with no ideas no strategy.
I’ve lived here over 50 years and yet NZ still remains a primarily agricultural bumkinland.
Its entreprenuers happy to sell as soon as an offer comes in from overseas.
There will be no Nokias or Ikeas here because thed sellout !
Cheers

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