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Modern Monetary Theory - Part 3 Deficit Spending & Taxation

There has been significant criticism of the new Labour Government Finance Minister, Grant Robertson, of late because of his determination to stick to his budget surplus & government debt to GDP targets outlined in his… 1,614 more words

New Zealand Politics

Modern Monetary Theory; The magic money tree? Overview Part 1

This is a multi part exposition of Modern Monetary Theory (MMT) & the closely associated topics of a Job Guarantee & deficit financing. It also along the way challenges the ideological political & economic project commonly referred to as neoliberalism. 1,316 more words

New Zealand Politics

More on Adrian Orr's verbal incontinence

Yesterday Adam reblogged an excellent post on Adrian Orr from Croaking Cassandra.

This comment is very relevant . It is by Geof Mortlock , a former RBNZ official.


Notes From Underground: The Ball of Confusion Keeps On Rolling

Tonight I am posting a PODCAST I recorded Wednesday with Richard Bonugli just after new Fed Chairman Jerome Powell’s press conference. Richard and I covered a great deal of ground in discussing the most pertinent issues confronting the world of global macro. 291 more words


Notes From Underground: Dear Chairman Powell,

Wednesday brings the FOMC‘s interest rate decision. The CONSENSUS is for an increase of 25 basis points to 1.50%-1.75%. Chairman Powell, you will have a chance to explain the Fed’s decision as you engage in your first press conference 30 minutes after the announcement. 918 more words


9 Feb 2018 (AFR) - RBNZ expects to hold interest rates at record low until mid-2019

(9 February 2018, AFR, p16, by Tracy Withers)

‘New Zealand’s central bank held interest rates at a record low and projected they would stay there until mid-2019 as inflation remained subdued amid slower economic growth.’ 15 more words

1.Market Observations

New Zealand Takes Step in Direction of Economic Nationalism and Less Central Bank Independence: How This Impacts Our Long Standing Bullish Stance on Kiwi

  • New Zealand First party leader Winston Peters sided with the Labour Party over the incumbent National Party in forming a coalition government. Labor leader, Jacinda Ardern, will become the youngest prime minister to lead New Zealand in 150 years at the age of 37.
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