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| Last Updated: Aug 15th, 2008 - 11:26:43 |
Newsletters
:
2007 Newsletters
:
9 March 2007
Thought for the Day
In 1999 our economy was growing at around 4 or 5%. The average world wide growth rate is now 5%. Unfortunately our Labour Governments' policies have reduce our growth rate to less than 2%.
If we concentrated on our economy and grew it at a constant 4% or 5% we would provide our descendants with a prosperous life.
Forget the Green-house gases. Wasting trillions of dollars on removing carbon dioxide from the atmosphere will impoverish our children and their children . . . All to no good effect. As Augie Auer explains today, carbon dioxide worries are misplaced.
Worry instead about bankers' ability to generate money from thin air. This is currently destroying the economy in Zimbabwe and causing stress in New Zealand and other Western nations.
Mar 9, 2007, 12:45
Newsletters
:
2007 Newsletters
:
9 March 2007
Do Central Banks Really Inflate?
We have seen that the Reserve Bank of New Zealand has inflated our broad money supply (M3) by 16.5% last year and of course, as Milton Freidman says, "inflation is always and everywhere a monetary phenomenon" and so this inflation whistles around the economy. Most of it seems to be going into housing. This may be because banks feel happy lending on "bricks and mortar" and since people observe that house prices always seem to be going up in value it is obviously a good idea to buy one and go along for the ride. Or, buy two and ride twice as high!
It is so obvious that everyone is making an effort to preserve their wealth by buying property. Thus the demand is increasing and the prices rise and so on and so on!
How come the Reserve Bank of New Zealand is powerless to stop this continuing saga?
Read this article to find out. . .
Mar 2, 2007, 12:41
Newsletters
:
2007 Newsletters
:
9 March 2007
A Shock To The System
I have just recently ploughed my way through a 900 page tome discussing the fundamentals of the banking system and implications for economic stability.
In essence it shows how banks currently create money from nothing and how governments and their Reserve Banks work with the commercial banks to keep this happening. One of the inevitable consequences of this approach to monetary policy is a continual succession of booms and busts.
As long as our money is just paper money issued at will by central governments and not backed up by a gold standard this situation will continue.
So enjoy the booms while they are booming and prepare for the inevitable bust. I am sorry but I am unable to tell you when the next bust will come. This is because governments get unelected when busts occur and so they do everything they can to postpone the bust. They can mostly do this by shoving more money into the banks which makes people feel wealthier but I suspect will make the bust a really good one when it finally arrives.
So, musical chairs on the monetary merry-go-round! Let the good times rip!
Feb 6, 2007, 10:28
Newsletters
:
2007 Newsletters
:
9 March 2007
NZCPD Guest Forum: Imagining Climate Change
Back to the Future.
Reminds me of the Two Ronnies skit I saw last year on UKTV. Talk about a blast from the past - the skit was about global cooling. Very amusing it was too. 1975 was a vintage year it seems.
This from Porter Stansberry: “As Dennis Gartman reminded me today, a 1975 Newsweek cover story proclaimed, ’The evidence in support of these predictions has now begun to accumulate so massively that meteorologists are hard-pressed to keep up with it. In England, farmers have seen their growing season decline by about two weeks since 1950, with a resultant overall loss in grain production estimated at up to 100,000 tons annually... Last April, in the most devastating outbreak of tornadoes ever recorded, 148 twisters killed more than 300 people and caused half a billion dollars’ worth of damage in 13 U.S. states.
“To scientists, these seemingly disparate incidents represent the advance signs of fundamental changes in the world’s weather. The central fact is that after three quarters of a century of extraordinarily mild conditions, the earth’s climate seems to be cooling down.
Meteorologists...are almost unanimous in the view that the trend will reduce agricultural productivity for the rest of the century. If the climatic change is as profound as some of the pessimists fear, the resulting famines could be catastrophic.”
Yeah, right!
Time for our politicians to concentrate on improving our economy instead of frightening the population with unsubstantiated clap-trap.
Surely we can agree to keep our environment as clean as possible and to plant lots of tress and shrubs and keep our natural waterways clean and so on without becoming hysterical about propositions that are not proven by rigorous scientific thinking but promulgated by vested interests. Will Al Gore really run for President???
As the Encyclopaedia Gallactica advises: "Don't Panic".
Jan 19, 2007, 10:32
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