On Q & A the little Aussie whinger who finds himself somewhat of a media darling due to the total ineptness of Team Labour 2012, promulgated his maniacal plan for NZ inc's salvation.
Quantitative Easing or as the media largely omit to say, "printing money", is now abbreviated to QE and the real meaning of that euphemism should be 'Queer Economics'.
If printing money is the solution then it must have been a monumentally stupid question.
Why, if it is such a great idea , not just give every no-hoper a couple of Million, crisp, bucks and stand back.
Google 'inflation Weimar Republic' for a picture of the horrendous results of Hyper-inflation.
In the washup of the 1918 armistice, the victors demanded from defeated Germany, reparations that equated to more than that country's annual gdp.
In 1921 the Mark was at around 7 to the $US, 3 years later, it was a staggering 1 000 000 000 000.
A joke of the time was when you ordered a meal you paid for it as when you had eaten it the cost had increased to an amount you could not fund.
Printing Marks for the domestic economy while the reparations had to be paid in Gold or "hard currency" fueled the Hyper-inflation
There have been more recent events and for reasons that seem irresponsible, the media have largely ignored, the most recent and graphic was The Zimbabwean Dollar.
Savings are ravaged and consigned to "wallpaper".
Scenes of a person taking a wheelbarrow of worthless banknotes to buy a loaf of bread, move from a cartoon to reality
For the immediate future, an economy as large as the US is able to appear to get away with QE but that is the single most influential factor causing the $NZ to hover in the low 80c. $US.
Yes our comparatively high interest rates are a factor but it is overwhelmingly our stable productive economy that is the attraction and voodoo economics such as those Red Russel promoted along with higher and additional taxes that will certainly tank our Dollar and people such as self who went without much during our productive wealth creating phase to build a few investment dollars and a freehold warm house will be devastated.
Of course that is of no concern to the almost believable ginga Dr as I would never vote for him and his bunch of control freek charlatans, a fact he knows well.
OTH, to the ignorant and economic illiterates his dopey rant is aimed at wont stop them seeing a rosy picture of future wealth , entitlements and screwing "rich Pricks".
Much of what swmbo and self chose to bypass as we built some wealth and many today see as their entitlement, will have all been for nothing.
Oh and of course the greatest unintended consequence of the German disaster was the inexorable rise of Facism under the Nazis. Even the thickest among us have some knowledge of what that cost the free world.
Creating a nation of sooks
29 minutes ago