Politics 🗳️ NZ Politics

[miket12]

The ‘path of least regrets’ was a term used to basically say your not going to take any risk, make judgement decision and use your skill and experience to navigate whats before you but instead just take the safest no risk, blunt options.

Very conservative, rear facing, data based solution that missed what was happening in real time.

Hindsight was shown it to be a mistake as other countries have been more proactive and ahead of the curve.

Was this a similar economic response to the no risk lockdown ones?

You'd have thought, that when they saw other central banks weren't going so big, so quickly in terms of rates increases that they would have slowed the increases down but instead they kept blindly following the "data" without considering the consequences. And GrantR was there championing the increases because it would finally bring the rapid increases in house values down. Yet, other countries which also had experienced huge jumps in property values also saw them fall by orchestrating a "soft landing". Too much focus on the housing market and not enough consideration about the impact of the wider economy in my opinion.

 

[Inruin]

You'd have thought, that when they saw other central banks weren't going so big, so quickly in terms of rates increases that they would have slowed the increases down but instead they kept blindly following the "data" without considering the consequences. And GrantR was there championing the increases because it would finally bring the rapid increases in house values down. Yet, other countries which also had experienced huge jumps in property values also saw them fall by orchestrating a "soft landing". Too much focus on the housing market and not enough consideration about the impact of the wider economy in my opinion.

Without trying to spark things up do you think that the dual mandate for the Reserve Bank was the right thing or do you think its right to return it to the single price stability focus? I also wonder if our spending had been a bit more targeted and measured whether we would have had such a big jump.

 

[wizard of Tauranga]

You'd have thought, that when they saw other central banks weren't going so big, so quickly in terms of rates increases that they would have slowed the increases down but instead they kept blindly following the "data" without considering the consequences. And GrantR was there championing the increases because it would finally bring the rapid increases in house values down. Yet, other countries which also had experienced huge jumps in property values also saw them fall by orchestrating a "soft landing". Too much focus on the housing market and not enough consideration about the impact of the wider economy in my opinion.

I hope the covid enquiry is not political and gives us a plan for future pandemics.

1 - I actually don’t think politicians are the best placed to manage the response - it’s to specialised, not what we vote them in to deal with and outside their skill set.

2 - I don’t think health officials are best placed to mange it either. They should be part of the solution but only 1 part of a broad range of considerations.

I think the collateral damage to the economy, students not attending school (still), mental health issues, sectors like tourism still below precovid levels, the inflation bubble, etc, point to a huge need to preplan how we will respond and what we prioritise next time.

Maybe a specialist civil defence type agency that prepares and specialised in pandemics to lead the response?

So much of what we’re still seeing today is due to our covid response.

 

[miket12]

Without trying to spark things up do you think that the dual mandate for the Reserve Bank was the right thing or do you think its right to return it to the single price stability focus? I also wonder if our spending had been a bit more targeted and measured whether we would have had such a big jump.

As I see it, the problem with the employment side of the dual mandate is that there wasn't a full definition of what was expected in achieving maximum employment or even what that figure should be. Both Treasury and the RB both said that the employment objective should be subordinate to the achieving price stability. Personally, instead of changing the Act to remove the dual mandate, the "weighting" of each side should have been better defined through a MPC Remit issued by the Minister. Removing it totally, although an election promise by both National and ACT, was, IMO, a step too far.

 

[Tragic]

I hope the covid enquiry is not political and gives us a plan for future pandemics.

1 - I actually don’t think politicians are the best placed to manage the response - it’s to specialised, not what we vote them in to deal with and outside their skill set.

2 - I don’t think health officials are best placed to mange it either. They should be part of the solution but only 1 part of a broad range of considerations.

I think the collateral damage to the economy, students not attending school (still), mental health issues, sectors like tourism still below precovid levels, the inflation bubble, etc, point to a huge need to preplan how we will respond and what we prioritise next time.

Maybe a specialist civil defence type agency that prepares and specialised in pandemics to lead the response?

So much of what we’re still seeing today is due to our covid response.

The problem is you can't know if you got it right until after. We look back now and most would say we locked down too long, but if it had turned out that mortality was higher that might have been the right thing to do. Or maybe not?

And do we really need an expensive enquiry to tell us what happened?

 

[miket12]

The problem is you can't know if you got it right until after. We look back now and most would say we locked down too long, but if it had turned out that mortality was higher that might have been the right thing to do. Or maybe not?

And do we really need an expensive enquiry to tell us what happened?

Personally, I think we need an inquiry not to proportion any "blame" but to decide what worked and what didn't work and try and prepare for the next one.

 

[Noitall]

Stuff

www.stuff.co.nz

Slowly getting to the goal of q and a. TVNZ obviously trying to prioritise that show at the expense of breakfast and seven sharp