Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Reserve Bank Fails New Zealanders Again



Reserve Bank Fails New Zealanders Again

"Financial market observers were today unsurprised by the business-as-usual actions of Reserve Bank central planners," reports Greg Balle, Libertarianz Finance Spokesman. "The much anticipated interest rate statement provoked a yawn as interest rates were left on hold at 7.25% by Governor Bollard. Yet again the Bank has failed to grasp the real solution to monetary problems."

"Rather than dictating an interest rate to the financial markets, the Reserve Bank should step aside and let a free monetary market agree upon rates of borrowing and lending," Balle suggested. "Instead, the Bank maintains faith in flawed economic models and ignores the fact that inflation has now wandered above the crucial 3% threshold."

Balle's frustration is apparent as he explains, "Anyone who has done Economics 101 knows that government institutions like the Reserve Bank cause the recessions which regularly threaten the economic well-being of all New Zealanders. When a single entity is asked to make decisions affecting so many Kiwis, it is being asked to do an impossible task. The Reserve Bank cannot hope to have access to the wealth of information available to a completely free monetary market, and so it's decisions will often be wrong."

"The Libertarianz party would allow a free monetary market, thereby eliminating the boom-bust business cycles caused by government interference in the market," Balle concludes. "With a stable economy and drastically lower tax rates, New Zealand really could be the South Pacific paradise we portray in tourist brochures."

"It's enough to make you vote Libertarianz!"


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news