I'm as mad as hell today
At the beginning of the week Russell Norman announced a new policy ofquantitative easing – printing more money so the government can sell bonds for the recovery of Christchurch.
On the surface this would all seem to be quite reasonable and even laudible. Help the exporters through a debased currency and restore growth.
Almost worthy of the Labour Party.
And now today we see in the leftist the Standard this sort of tripe (under the heading of “Reseach-based opinions”):
“Bill English on quantitative easing: “There are big risks with it and it is just barmy to suggest that in an economy growing at all that you would do it”. So, are the countries that are using QE to push up our currency growing? EU: -0.3% (14 of the 27 member states are growing), US: 2.1%, Switzerland: 0.6%, Japan: 3.3%. So, yes, countries use QE while growing – and it lets their businesses undercut ours.”
The trouble is that these countries are not doing well – they are on the verge of collapse. You could choose almost any item from this blog and it will serve as a response to this nonsense.
The trouble with QE is a policy that benefits first and foremost the banks who are the ones most responsible for the deep debt crisis the world finds itself in.
The banks can print more money which they can lend to the government at interest.
Solve debt with more debt.
It is also a policy which, in the countries where it has been used has led to the impoverishment of the majority and besides, not worked.
Very funny coming from a party that espouses social and economic justice.
The Green Party
Today an esteemed elder friend has announced that they are going to resign from the Green Party. They have been a tireless and stalwart fighter for the party since its very inception – indeed for longer than that – since the days of the Values Party in New Zealand in the 70's.
They have intimated that it is a new, more right-wing generaton that is at the helm of the party that is now able to adapt a slogan such as “for a richer New Zealand” and they are unhappy with the new party economic policies.
I find the newfound love of economic growth dispicable and unprincipled.
I do not have any expectation of any party in parliament – not the Labour Party, not the National Party or any of their cohorts.
Except the Green Party.
Except the Green Party.
The Green Party is more responsible than anyone for help lull the population into sleep because they know the way things work – or at least I thought they did.
This is the party that in earlier days helped me to form a knowledge of the great issues that face us – global warming, globalisation and Peak Oil.
They are asking that these issues be put on the backburner, What the 'public' needs is good news. Otherwise they will be 'ovewhelmed or go into denial.
The Green party, in order to do something about these issues needs a strong presence in parliament and to hark on about inconvenient truths such as runaway climate change, resource depletion and the end of Growth would cost votes.
Political expediency ueber alles.
I'm sorry that it is not good enough to make compromises on matters of principle.
Once you've sold your soul it's too late.