Friday, November 20, 2009


The announcement by Phil Goff that Labour is abandoning 20 years of monetary policy consensus might be viewed by some as economic sabotage.

Especially when it is accompanied by a refusal to spell out any alternatives.

Others may view it as an abject failure of leadership.

For the Veteran it's a case of any headline in a storm occasioned by dismal poll rating going south and bugger the consequences.


Anonymous said...

Yeh like a 20 year old failed policy is not worth revisiting? Put your thinking hat on instead of parroting the National Anthem.

The Veteran said...

Anon ... give me a break. If you abandon a policy without articulating your own position you deserve derision.

And if that hiatus/uncertainty results in speculation against the currency then Goff can rightly be accused of economic sabotage.

Serious question ... Does his failure to spell out Labour's vision suggest they are seeking a return to Muldoonism and the doing away with the independence of the Reserve Bank?

Mr Cullen will be pleased.

pdm said...

TheV and Anon - it is pretty obvious why Goff did not offer an alternative. He Cunliffe and in fact the entire Labour caucus would have no idea where to start to come up with an alternative.

The country is largely in this situation because of the largesse of the 9 year Labour government and their programme to turn as many New Zealanders into beneficiaries rather than productive workers.