NZ economy insulated from the worst effects of the global financial crisis
Due to the care and attention the government has paid the economy over the last nine years it would seem that New Zealand is in better shape to weather the global economic storm than it could well have been.
Just imagine if the opposition had been in power, NZ would be in the same position we have been in during every other recession, the government would have owed billions to overseas banks and our exposure would be so much worse.
With an election now scheduled for the 8th of November it will be critical that people look long and hard at how they use their vote.
Two Great Sporting Wins
The All Blacks beat Australia on Saturday night and now hold the Tri Nations and the Bledisloe cups. Many people say that the changes away from the rotation policy have been a significant factor in the win.
For the first time in the history of the NRL the NZ Warriors have beaten the Melbourne Storm. What makes this a historic win is that a team qualifying in 8th place has ever beaten the top qualifier
I have a feeling that there will be a few people not at work Monday or if they are they may not be felling particularly well.
New Zealand OCR drops to 7.5%
With the announcement that the OCR has dropped to 7.5% Kiwi Bank has already dropped fixed term mortgage interest rates. West Pac has also dropped interest rates and it is expected that other banks will follow in due course. This will assist home buyers and assist many people in the community. The real estate industry should also make some gains and the present decline should be relieved. This should also have flow on effects for the New Zealand economy.
Many Supporters Now Disenchanted
One of the groups who were most supportive of the National parties bid for election are now “luke warm” or left cold after John Key spoke at the NZ Forum on the Family. Some of those present had worked arduously for months to get a referendum on the “the anti-smacking laws”. When John Key stated “If I can see compelling evidence that the legislation is not working, I will change it,” ……. “To this day I haven’t seen this evidence.” He left large numbers of people “gob smacked” and astounded with his statements, and this fall out has continued with those who were not present at the forum expressing their dismay and disbelief on “talk back” radio and in newspapers and on blogs.
New Zealand Medal at the Beijing Paralympics
Is the recession over or just on hold?
The economists, who comment for the news media, today stated that “there are indications that the current down turn in the economy is over”. They predict the New Zealand economy will move in a positive direction from now, on gradually recovering in the medium to long term. The more stable price of oil, the expected change in the weather, and the pending tax cuts all being contributing factors. Perhaps the main factor that is holding things back, is the imminent general election. Polls to date have suggested that a new right government will be elected. The recent lack of political acumen on the part of opposition members and their new leader have tended to shadow this inevitability. MMP means that unless the governing party gains a very large portion of the vote they can not govern alone. For the right to form a coalition may be difficult particularly now the leader has ruled out one of the more significant minority parties…..
Is all Publicity Good Publicity?
With the New Zealand General Election just around the corner the minority parties are doing every thing they can to raise their public profile. One of the minor party leaders even going as far as wearing a yellow sports coat. The same party leader has been vigorously attacking and probing at every session. If one tries to look beyond the obvious you have to wonder what the real story is. There seems no doubt the yellow jacketed leader had been in the in the public eye both for the yellow jacket and for his attacks on the other minor party that has been singled out for not declaring donations and gifts. I don’t have any evidence at this time on which to base a personal opinion and have not formed one. There are two inquiries under way one of which is the SFO who I am sure have some very qualified and experienced staff to undertake such an inquiry.
Some questions that need to be considered are- Is MMP achieving the lofty ideals it is intended for? Are we ever likely to know all the facts of just what the powers that be want us to know? Is there some grand master plan which is now starting to evolve?
There is certainly a serious political situation/crisis that needs to be rectified and perhaps this will happen sooner then we all expect.
The Beijing Olympics Sets the Bench Mark
The Beijing Olympics are over and the Chinese need to be complemented for their effort, planning and resources put into the event. The wonderful and unforgettable opening and closing ceremonies will set a standard for all future Olympics to strive for. The quality of the venues the provision of all that was required for competitors and spectators was amazing. I am sure that every one involved must have gained a great deal from their experiences. The money spent on the venues will be a great asset to the city and to the country. The money spent will have long term benefits for China and for all associated with the event.
Will those who seemed to be hell bent on raising every obstacle they could and predicting a doom and gloom for the games, now stand up and apologize or perhaps even admit they were wrong? The marathons which many said could not run successfully were both great events with the men’s marathon setting a new Olympic record. No sign of any runners suffering adverse effects of pollution. The Beijing Olympics have clearly demonstrated that China has come of age and although there a still some issues that need to be worked on I am sure that China will work to see these will be resolved.
New Zealand Second on Per-Capita Medal Table
With Tom Ashley’s gold medal win New Zealand now moves into second on the medals per head table. “Per-capita medals” is the table that puts medal hauls in proportion to population size. This is a very good thing for New Zealand and other countries which do not have the benefit of hundreds of millions of people to pick Olympic athletes from.
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