|Last Updated: Mar 25th, 2013 - 16:46:15
Thought for the Day
They say, "The Prophet is without honour in his own country."
Occasionally we publish the writings of a politician and today I would like to show you what Rodney Hide has to say in this press release about Sir Roger Douglas:
ACT Leader Rodney Hide today congratulated Sir Roger Douglas who - along with former French Prime Minister Edouard Balladur and former Estonian Prime Minister Mart Laar - last night received an inaugural Institut Turgot Liberty Prizes in the category of 'World Political Leaders Whose Actions Best Contributed to the Advancement of the Cause of Liberty'.
"This is a tremendous honour for New Zealand, for Sir Roger and for ACT - and is just the latest of many international awards to be bestowed on Sir Roger Douglas," Mr Hide said.
"These awards include:
* The Euromoney Magazine Award for Finance Minister of the Year in 1985
* The Max Schmidheiny Freedom Prize in 1996 - for his contribution to the preservation and development of a free social and economic order
* The Ludwig Erhard Prize for Economic Journalism in 1997
* The Friedrich von Hayek medal in 2002 - given to outstanding politicians, entrepreneurs and scholars who stand for the aims and values of a free society
* The Deloitte/Management Magazine Visionary Leader Award in 2006.
"Sir Roger is the architect of the modern New Zealand economy and, to a large extent, the exciting array of choices that we now take for granted in our goods and services only exists because of his freeing up of competitive markets in the 1980s.
"Sir Roger is New Zealand's greatest ever Finance Minister - the only one ever to be honoured internationally. This is because he is the only one to have had the guts to consistently put what was right for his country ahead of what was convenient politically.
It is Sir Roger's vision, principles and sheer guts to do what's right that achieved the modern New Zealand economy - a fact recognised, not just in New Zealand but, around the world," Mr Hide said.
Apr 10, 2008, 13:22
Insights from Zimbabwe
It is interesting to get a story first hand rather than through newspapers. This internet interview is enlightening. The interviewer (Robert Jackson Smith) states:
We have had the fortunate opportunity to find Mr. Byron Zamasiya (BZ), an economist in Zimbabwe, who is willing to share with us his views, observations, and perhaps his experiences during recent years while Zimbabwe has gradually learned what it is like to live under hyper-inflationary conditions. While we may not always agree with Mr. Zamasiya’s conclusions, there is much that we can learn from him. Please read his comments carefully. Some of our comments and observations will be inserted in red."
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Apr 10, 2008, 12:59
What You Should Know About Inflation
Our government is currently holding an enquiry into the causes of inflation in the hope of getting better control of our economy. This article tells us exactly what inflation is and how to stop it.
When you read this article just remember that since 1999 our money supply has increased by 100% and the price of REAL estate has doubled.
This is cause and effect! It is not a coincidence.
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Apr 9, 2008, 11:09
The Problems of Central Bank Planning
In a free market capitalist system everything has its natural price - that is, what a willing buyer would pay a willing seller. Value is another matter and what you or I would pay for that same good or service is of no consequence.
And so our free market capitalist society consists of many buyers and sellers making and considering financial offers and the accepted offer is the price. Some people might wish to call this the market price if they wish to discuss other prices such as offer price, retail price, wholesale price and so on. This can lead to confusion about the principles under discussion. When dealing with economic theory we must work with completed transactions where the price is as I have defined.
Money also has a price and this is called the interest rate. If you want money then you must earn it or borrow it. The price of money will vary depending on whom you borrow from and what collateral you have to offer. The money to buy a car may cost you 22% and the money to purchase a property may only(?) cost you 10%. The Central Banks lend money to other banks at lower rates like 3% or 5% or higher in New Zealand's case. The Central Bank in a paper money economy sets an interest rate rather than in a gold based currency leaving it to the participants to haggle about the price and let the cost of money eventually develop its own level. The artificial nature of our Central Banking interference in the free market causes distortions in the money market and in trying to resolve these distortions the Central Banks continually undershoot and overshoot the natural price of money.
As long as we have paper money and Central Control and Planning of money supply we will have this boom and bust economy - eventually leading to the Super Bust.
This article gives an interesting perspective on this problem.
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Apr 9, 2008, 05:13
Look and Feel
As you know I have talked about gold money being REAL money as opposed to this paper stuff. Here is an interesting experiment about the value of money.
I am not sure what it means, but it is interesting.
Apr 7, 2008, 13:54
The IPCC – On the Run at Last
"For the last three years, satellite-measured average global temperature has been declining. Given the occurrence also of record low winter temperatures and massive snowfalls across both hemispheres this year, IPCC members have now entered panic mode, the whites of their eyes being clearly visible as they seek to defend their now unsustainable hypothesis of dangerous, human-caused global warming."
So says Professor Bob Carter in a recent lecture in New Zealand.
We are supposed to be in the information age with sophisticated scientific capability yet our politicians insist on spending billions of our hard earned tax dollars in chasing the greeny goal of sustainability and stopping global warming.
Are there no politicians out there who can take a lead in this matter and stop this waste of Kiwi tax money. Our economy is poised at the top of a cliff at the moment and this global warming chimera may well be the last push.
As Albert Einstein said, "Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."
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Apr 7, 2008, 11:16