|Last Updated: Mar 25th, 2013 - 16:46:15
Thought for the Day
Australians have had a higher income than Kiwis since as far back as I can remember. I have obtained some comparison figures from the OECD tables and they show that in 1970 Aussie income was 8.5% greater, in 1975 it was 7.1% greater but in 1980 it had leaped to 20%. The five year intervals since then show 16.4%, 18.9%, 27.8%, 36.5% and in 2005 it was 41.2%.
We are clearly being left in the dust by an ever increasing margin. Do our politicians show much sign of redressing the situation? Obviously not!
This election we need to ask our political candidates just how they are going to rectify our dismal performance. Don't they know that poor countries have poor people?
This election Vote for Growth!
Aug 26, 2008, 11:26
Lending to the Poor Has Rich Rewards
A heart warming story with lessons for all economists and politicians - not to mention bankers!
Aug 29, 2008, 13:51
Washington Is Quietly Repudiating Its Debts
Governments are more and more often using inflation of the money supply to "solve" their immediate problems of deflation or stagflation or just to give the average Joe Blow a boost at election time.
New Zealand politicians talk quite openly of keeping spending fixed in actual numbers of dollar terms and letting inflation make them worth less and less so quietly reducing REAL spending on government bureaucrats - for instance.
This continual inflation of our paper money supply is the road to perdition, and has always led to crises in the past.
But New Zealand is a small fish in a big pond. What about the USA? We should worry, as Mr O'Driscoll explains.
Mr. O'Driscoll is a senior fellow at the Cato Institute and a former vice president and economic adviser at the Federal Reserve Bank of Dallas.
He should know what he is talking about!
Aug 29, 2008, 09:06
The Great US Gold Shortage
The demand for gold is rising and suppliers are experiencing shortages. this is very interesting because as the shortage gets worse the price of gold decreases.
Is gold working to some sort of reverse theory of supply and demand? Or are major forces at work to suppress gold?
No doubt all will be revealed in the fullness of time. But it is some indication of the pressures developing under our paper money system.
Aug 28, 2008, 11:14
The Politics Of Sand
What constitutes sustainability? What does sustainability mean? Is it more green-wash? What is the difference between green-wash and hog-wash?
The Economist attempts an answer.
Aug 27, 2008, 13:10
Lessons From a “Lost Decade”
The conceit of economists, politicians and bankers is that they can run a paper based money system backed by nothing more than the public's belief that economists, politicians and bankers know what they are doing.
The fact that every previous paper based money system ended in tears is not mentioned.
This article compares America with Japan of the 90s. Can America do better?
What are the lessons for New Zealand?
Aug 24, 2008, 13:34
In the year 2008, the Lord came unto Noah, who was now living in the United States , and said: "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me."
"Build another Ark and save 2 of every living thing along with a few good humans."
He gave Noah the blueprints, saying: "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights."
Six months later, the Lord looked down and saw Noah weeping in his yard - but no Ark.
"Noah!" He roared, "I'm about to start the rain! Where is the Ark"?
"Forgive me, Lord", begged Noah, "but things have changed.
I needed a building permit. I've been arguing with the inspector about the need for a sprinkler system."
"My neighbors claim that I've violated the neighborhood zoning laws by building the Ark in my yard and exceeding the height limitations."
"We had to go to the Development Appeal Board for a decision. Then the Department of Transportation demanded a bond be posted for the future costs of moving power lines
and other overhead obstructions, to clear the passage for the Ark's move to the sea."
"I told them that the sea would be coming to us, but they would hear nothing of it."
"Getting the wood was another problem. There's a ban on cutting local trees in order to save the spotted owl. I tried to convince the environmentalists that I needed the wood to save the owls - but no go! When I started gathering the animals, an animal rights group sued me. They insisted that I was confining wild animals against their will. They argued the accommodations were too restrictive, and it was cruel and inhumane to put so many animals in a confined space."
"Then the EPA ruled that I couldn't build the Ark until they'd conducted an environmental impact study on your proposed flood."
"I'm still trying to resolve a complaint with the Human Rights Commission on how many minorities I'm supposed to hire for my building crew. Immigration and Naturalization are checking the green-card status of most of the people who want to work. The trades unions say I can't use my sons. They insist I have to hire only Union workers with Ark-building experience. To make matters worse, the IRS seized all my assets, claiming I'm trying to leave the country illegally with endangered species."
"So, forgive me, Lord, but it would take at least 10 years for me to finish this Ark."
Suddenly the skies cleared, the sun began to shine, and a rainbow stretched across the sky.
Noah looked up in wonder and asked, "You mean you're not going to destroy the world?"
"No," said the Lord. "The government beat me to it."
Aug 18, 2008, 10:47
Quote for the Week
"The strict limitation of government power imposed by the Constitution must be respected. We must accept the principle that government's function is not to regulate and plan the economy, protect us from ourselves, arbitrarily attempt to make us better people, or police the world by interfering in the internal affairs of other nations. Its proper function in a free society is to protect liberty and provide for a common defence. When that proper role is assumed, our problems will vanish."
Dr. Ron Paul is a Republican member of Congress from Texas and a 2008 US presidential candidate.
Aug 17, 2008, 12:57