Thursday, January 22, 2009

But what would I know

"Surging international prices and the weakening kiwi currency caused gold to hit a New Zealand dollar record yesterday."
Yet, apparently, "Gold is one of the worst performing asset classes" according to Ruth.

I repeat my call for Bollard to raise the OCR to 800 basis points.

Further, taxes should be slashed, especially corporate taxes. They can always be raised again.

1 comment:

significanthazard said...

No Minister, has been castigated for suggesting that Key et al should read Gold-Eagle.

Just read this article which is great to see that No Minister was not a loan voice in calling for an increase in the OCR.

http://www.businessday.co.nz/industries/economy/4834341

“Bollard policy has ‘huge collateral damage’”

A leading economist is calling for greater scrutiny of the Reserve Bank’s “super loose” monetary policy setting, claiming massive shifts in exchange and interest rates are preventing businesses from investing.

“Mr Kerr expressed his disappointment at successive cuts and with more on the cards, said the outlook for New Zealand was of “real concern”.