Post by Tony
The decision is right.
We have low debt to GDP ratio compared to most OECD countries and we can afford
to borrow the money.
As I've mentioned on this group many time previously en passant, the ratio is currently approximately 20% of GDP - good news domestically, good news abroad among our creditors and credit-ratings agencies. Better still, New Zealand has never once yet been obliged to kneel to the IMF, nor has it ever once welshed on its financial obligations.
But there is always that snake in the grass: private debt. With this still the big negative dogging the economy from all sides, other debt has to be kept compensatingly low to maintain **total** national indebtedness at a level where we can still be sure of receiving that AA uptick from the overseas credit agencies - since it is they who determine our credit worthiness and readiness of Big Finance to hand over the loot.
Joyce's smoke-and-mirrors "$11 billion fiscal hole" has yet to manifest itself (mmm...forgotten about that one, hadn't you, everyone?). However, the multiple clear and present dangers now at our door mean that Robertson, Orr and Treasury will be concentrating their considerable minds and forces over the next three months or so and, I hope, with a rigour which, historically, has not always been by no means the case.
Post by Tony
This results from good governance for the past 20 years.
(Far too glossed-over and conveniently subjective... meaningless)
Post by Tony
Grant Robertson looks like he is competent and the leader of the opposition
For Robertson noone needs reminding. As for Bridges...
Doubtless a decent fellow of sorts, of course, but the current leader of the opposition has no responsibility for current decision-making and governance of the country and clearly cannot therefore be assessed for his competence in that regard. But it is to his credit that he's come onside in the Covid-19 crisis, albeit he could be excused for showing a touch of recalcitrance at having effectively to concede - on camera - that the entire initiative has been in the gift of the current PM.
So as for any politician on the sidelines, with Bridges it's inevitably been about forced necessity, never wisdom. After all, what other choice is left to the poor, croaking fish..?
As for the PM herself: the people of the US and the UK should take a long, hard look at the fish-shop lass from down under to learn the essence of what it takes to be a leader; and a leader who has not only **the** persona and delivery appropriate to an in-yer-face crisis of a kind no-one had ever thought could happen, but also a rare gift for sheer 'spine' and natural poise when it comes to fronting a country in the full glare of world publicity. Clarity in delivery is paramount at such troubling times, and she has it in spades, and then some.
Lastly, to paraphrase, “Cometh the hour, cometh the woman”.
So now compare Ardern with that absurd spaffing nincompoop, nothing-but-lies Johnson and that beyond-grotesque and degenerate doppelganger across the fishpond. Neither of these mendacious, self-serving thugs should be anywhere near governance of any sort. In terms of national policies and, critically, the current coronavirus disaster, these products of wholesale graft and corruption are so hobbled and poisoned by an almost medieval devine-right-to-rule mindset pile-driven into them during early lives of unearned-privilege, unearned over-promotion, and obscene unearned wealth, that they are blinded to all other factors when it comes to wielding the powers vested in them.
That’s right...you really don't know how lucky you are.