|Last Updated: Mar 25th, 2013 - 16:46:15
Thought for the Day
On New Year’s Day in 2002, the Wall Street Journal published its annual survey of economists for the upcoming year. Although the economy had been sagging for almost a year, not one of the 55 economists thought that it was in for a serious decline. One hundred percent were wrong - and proof that Ph.D. economists are as prone to mob psychology as the rest of us.
Nov 23, 2007, 10:55
Monetary Policy And Political Consensus.
Finance Minster Michael Cullen address to the Wood Processors Association of New Zealand Annual Conference, Wellington.
Now you will know that over the years I have had much to say about Dr. Cullen's handling of our economy. Our very reason for existence is that we were certain that our Labour government had put in train policies that would eventually destroy our economy and in the short term make life harder and harder for those who could least withstand the financial pressure.
And so it came to pass. In 2006 the OECD announced that New Zealand had dropped another two places down the Income per Capita table, from 20 to 22. Labour have also managed to produce the lowest growth rate in productivity on record - last measured at 0.4 and currently estimated to be zero. Inflation is about to burst the seams of society and they have no idea what it is or how they caused it so they are holding a parliamentary enquiry. That should do the trick!
Meanwhile our growth rate has slid backwards from around 4% when they arrived in power to about 1% now. This is with world GDP growth rate averaging 5% over the past five years! It is also interesting to understand that they keep measuring CPI inflation and GDP growth as if our dollars were a constant measure while adding more dollars into the banking system at the rate of 10% to 15% per annum.
Something doesn't add up here.
However I thought Dr. Cullen should have the opportunity to say something to us on this topic so I have attached hereto his recent speech to the Wood and Timber people.
Labour's Ecopnomic Transformation has so far been in reverse. Will his new moves turn things around?
Nov 22, 2007, 18:36
Free Markets and Social Welfare
New Zealand is losing 40,000 people per annum at the present rate to Australia. This is 770 per week.
A lot more are going to other countries to live.
This is a big change from a few years ago.
How does the Austrian theory of economics explain migration patterns.
Nov 21, 2007, 16:41
The UAW's Gamble
The British unions and their incompetent bosses brought their motor industry to extinction. How are the American Union Workers faring with the latest world wide competition? Will the "Big Three" Ford, GM, and Chrysler survive?
What does economic theory have to say about this?
Oct 18, 2007, 09:53
New Element Found in America
The recent hurricanes and skyrocketing oil and gasoline prices helped to prove the existence of a new element. In early October 2005, a major research institution announced the discovery of the heaviest element yet known to science. The new element has been named "Governmentium."
Governmentium (Gv) has one neutron, 25 assistant neutrons, 88 deputy neutrons, and 198 assistant deputy neutrons, giving it an atomic mass of 312. These 312 particles are held together by forces called 'morons' which are surrounded by vast quantities of lepton-like particles called 'peons.' Since Gv has no electrons, it is inert. However, it can be detected, because it impedes every reaction with which it comes into contact. A minute amount of Gv causes one reaction to take over four days to complete, when it would normally take less than a second!
Gv has a normal half-life of 4 years; it does not decay; but instead undergoes a reorganization in which a portion of the assistant neutrons and deputy neutrons exchange places. In fact, Governmentium's mass will actually increase over time, since each reorganization will cause more morons to become neutrons, forming 'isodopes.' This characteristic of moron promotion leads most scientists to believe that Gv is formed whenever morons reach a certain quantity in concentration. This hypothetical quantity is referred to as 'Critical Morass.'
When catalyzed with money, Gv becomes "Administratium' (Am) - an element which radiates just as much energy as Gv, since it has half as many peons but twice as many morons.
Oct 12, 2007, 11:28