top of page

Subscribe Form

Thanks for submitting!

Search

ROB MacCULLOCH: For Goodness Sakes, Some People You Just Can't Help


For an entire week, this Blog has been focused on one issue - the false claim made by the PM that NZ's GDP growth rate is better "than every country, other than Japan" which he made to Hosking on Newstalk ZB. I saw it as crucial to the election campaign, which centers on economic credibility and in particular cost-of-living issues. The latest IMF figures, released two days ago, put NZ close to bottom on GDP growth - we're on track to be 180th out of 189 countries next year (and way down this year as well). I've checked the OECD Quarterly Growth Figures - since the PM inferred at one stage it maybe these numbers he's talking about - and NZ is certainly not 2nd after Japan there either. So my point is that I've tried like a dog to put the truth out there - and I know many MPs receive this Blog - and thousands of folks have been reading it the past week and re-posting. But then in the Leaders Debate last night, the PM repeated his claim that NZ is beating every country other than Japan on the GDP numbers... and Luxon let it go. How could he? His opponent was stating that Labour is a superior economic manager to National based on our GDP performance and it is not true. How on earth could Luxon not challenge him on the most crucial issue of economic competence? Luxon could've won the debate hands-down and the election in that one moment - by showing off a command of economic matters, like the OECD & IMF numbers, and calling Hipkins' out as deceptive. Once the PM knew he could get away with that, he knew could get away with anything. My political analyst friends in the US say folks expected John Kerry to lose the Presidential Election in 2004 when he got labelled a coward by George Bush & the Republican Party for not helping his fellow soldiers more in Vietnam when they came under enemy attack, even though Kerry had received three Purple Heart military medals when George Bush had been serving in the National Guard in Texas and dodging the draft. They said that for Bush to win the debate & label Kerry a coward when Bush had not served proved Kerry could not win a debate even when he held all the cards. It seems to me that National has held all the cards on the economy and should have easily won these debates on the GDP growth numbers & cost-of-living since they're so clearly in tatters. To not win easily winnable debates with all the numbers on your side, and when Bloggers like me have handed them the evidence on a plate, beggars belief. Sources: https://stats.oecd.org/Index.aspx?QueryName=350


Robert MacCulloch holds the Matthew S. Abel Chair of Macroeconomics at Auckland University. Rob blogs at Down To Earth Kiwi

3,276 views108 comments

108 Comments


Michael McCook
Michael McCook
Oct 15, 2023

Ask any average New Zealander what the total govt debt is - barely anyone would give you the correct answer. Our apathy is very costly

Like
basilwnz
basilwnz
Oct 15, 2023
Replying to

Good question - it was USD $203.2 bn last June, but will have increased steadily from there. What the current levels are as the National/Act govt takes over I haven't seen.

Like

The economic information & data must already be known by the NZRB? No noise from that sector however either !


Something must be seriously wrong in NZ where Adrian Orr is now requesting $100m more funding before the election (see link below), while the NZ dollar is so low (see chart), when Orr historically stated: "We have an open foreign exchange holding and, when the New Zealand dollar falls, we make money".


The NZRB is the regulator of banks and insurance companies (with the FMA) in a self-regulated regime – how does that work or not work? The regulator undertook joint reviews as to conduct and culture of banks and life insurers in 2018 and 2019, respectively. The reviews found…



Like

colonel.blimp
colonel.blimp
Oct 13, 2023

"....PM repeated his claim that NZ is beating every country other than Japan on the GDP numbers... and Luxon let it go...."


Another clear reason as to why I refuse to vote for National. Exacerbated even more by his acceptance of "co governance at a local level."

Like
harveyandsara
harveyandsara
Oct 13, 2023
Replying to

Dead right . Well he will hopefully have 3yrs prodded on by ACT and nzf to do something or he may find himself wishing he had.In the meantime Julian Batchelor is not going away and an awful lot more people will be an awfully lot more aware of the cunning desires of a tiny fraction of the population of this country just because they have a brown arse. If his wokeness dosnt knock it on the head soon he could be staring down the barrel of a civil war in this country of New Zealand.

Like

What is wrong with these people? Luxon and Seymour also do not challenge Hipkins when he says that we have saved lives with our covid response. Anyone can go onto the OECD stats website (https://stats.oecd.org/index.aspx?queryid=104676), pick out NZ, and see with their own eyes that, despite low mortality in 2020, excess mortality since then has been utterly staggering. I believe that over this period we have lost the equivalent in excess deaths (ie over and above all the expected deaths) to our loses in WWII. How was this not a gift to Luxon and Seymour? Surely, along with the economy, it is one of the greatest of all proofs of Labour's failures? I desperately want Labour out, but my faith in their successors…

Like
Replying to

I am most certainly not defending Hipkins who I regard as one of the most dangerous creatures to ever hold the title of PM anywhere on the planet, but neither will I defend either Luxon or Seymour, as I regard both of these creatures as disgusting WEF snakes, who would both willingly sell their grandmothers for sixpence. Just like you Anna my expectations with these two as PM and DPM are pretty much rock bottom. Perhaps then, their silence was because they were both acutely aware that whilst in office they both loudly proclaimed that the Govt was not rolling out these toxic gene-altering toxins anywhere fast enough. As such the strategy they advocated (also by TPM and NZF) of eve…

Like

Liz M Lambert
Liz M Lambert
Oct 13, 2023

You better have a look at last night's N8WUNZ zoom on Rumble to understand what's going on here. Its spiritual not physical

Pray for Israel and pray for New Zealand to wake up !

Like
bottom of page