Thursday, May 26, 2005
Jordan Carter's selective memory/posting
This is from Jordan's blog on 25 May from the OECD report:
Tax Cuts = Higher Interest Rates: OECD
"Economic growth has been running ahead of potential..."
"WIth the pace of activity now slowing, the recent monetary tightening should be sufficient to limit inflation, given the appreciation of the exchange rate. But additional fiscal stimulus beyond that already planned could put the projected soft landing at risk and would need to be offset by higher interest rates in order to bring the economy back onto a sustainable growth path."
Jordan then said this when commenting on National's tax cut promise, and ACT's I presume:
'It is the height of economic ignorance to contend that a massive spending increase (which is what tax cuts are, just as sure as a massive benefit increase would be) won't affect inflation and interest rates. Inflation will go up, and interest rates will go up as a result. So the dollar will go higher, hurting the current account deficit and exporting businesses even more than the current high levels are doing.'
This is what the Herald reported/quoted from the OECD report:
"The OECD said the seven interest rate hikes since the start of last year should be enough to return the economy to a more sustainable path and give the Reserve Bank room to start easing rates slowly during next year.
However, its task has been complicated by the fiscal stimulus that has come from additional Government spending in 2004 and 2005. Any further relaxation of fiscal policy would need to be offset by higher interest rates."
Will Jordan/Labour accept blame for the 7! interest rate hikes caused by the Labour government's spending?
Consider the above quote carefully...'its task has been complicated by the fiscal stimulus that has come from additional Government spending in 2004 and 2005.'
Makes you wonder aye!
Tax Cuts = Higher Interest Rates: OECD
"Economic growth has been running ahead of potential..."
"WIth the pace of activity now slowing, the recent monetary tightening should be sufficient to limit inflation, given the appreciation of the exchange rate. But additional fiscal stimulus beyond that already planned could put the projected soft landing at risk and would need to be offset by higher interest rates in order to bring the economy back onto a sustainable growth path."
Jordan then said this when commenting on National's tax cut promise, and ACT's I presume:
'It is the height of economic ignorance to contend that a massive spending increase (which is what tax cuts are, just as sure as a massive benefit increase would be) won't affect inflation and interest rates. Inflation will go up, and interest rates will go up as a result. So the dollar will go higher, hurting the current account deficit and exporting businesses even more than the current high levels are doing.'
This is what the Herald reported/quoted from the OECD report:
"The OECD said the seven interest rate hikes since the start of last year should be enough to return the economy to a more sustainable path and give the Reserve Bank room to start easing rates slowly during next year.
However, its task has been complicated by the fiscal stimulus that has come from additional Government spending in 2004 and 2005. Any further relaxation of fiscal policy would need to be offset by higher interest rates."
Will Jordan/Labour accept blame for the 7! interest rate hikes caused by the Labour government's spending?
Consider the above quote carefully...'its task has been complicated by the fiscal stimulus that has come from additional Government spending in 2004 and 2005.'
Makes you wonder aye!
Comments:
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Just like Sir Humphrey's has a few gaps where those that don't follow the party line are censored out of existence. What a pathetic little man you are AL. The only thing you are really interested in is the sound of your own voice which unfortunately is ubiquitous across the New Zealand blogsphere. Any dissenting opinion is an opinion you are not interested in listening to much less engaging with and having a genuine debate. You are indeed a paradigm of the new right.
# posted by 
: 12:18 AM
: 12:18 AM
Sounds like a gate crasher that doesn't understand why he doesn't get invited to parties.
Their right to express an opinion ANYWHERE is more important than your right to show some-one the door to your own place if you take offense at the content.
Do you really need to be so angry Anon? Why not just blog it. Spend your life fisking Sir Humphreys if that's going to balance the scales. You wont be the first.
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Their right to express an opinion ANYWHERE is more important than your right to show some-one the door to your own place if you take offense at the content.
Do you really need to be so angry Anon? Why not just blog it. Spend your life fisking Sir Humphreys if that's going to balance the scales. You wont be the first.
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