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Author Topic: NZ's Recession Response  (Read 1230 times)

Muggins

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NZ's Recession Response
« on: March 15, 2009, 08:24:06 pm »

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10560868

The Wall Street Journal interviews New Zealand's Prime Minister and finds he has a very different approach to solving the country's economic crisis than the solutions coming from Washington, Tokyo or Canberra.  Basically, his approach is to stimulate productivity in the New Zealand economy rather than just hand out a bunch of cash as "stimulus payments".  Essentially he's saying that you can't spend your way out of a credit crunch.

It will be interesting to see the results of this approach and to see how we fare compared to other countries.
Common sense is not so common - Voltaire

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    Thernlund

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    Re: NZ's Recession Response
    « Reply #1 on: March 15, 2009, 11:08:49 pm »
    Nice.  At least one world leader is on the right track.

    I hope it pans out.  It would be a great example.


    -T.
    Arizona  Arm yourself because no one else here will save you.  The odds will betray you, and I will replace you...

    TommyGunn

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    Re: NZ's Recession Response
    « Reply #2 on: March 15, 2009, 11:39:52 pm »
    So how many countries are there in the world, and we now know ONE with a leader who's doing it right????


    Wow.  Says something about politicians.  ME------> :bash<--------POLITICIANS

    What's not to like about smilies? :hmm
    "Through ignorance of what is good and what is bad, the life of men is greatly perplexed." ~~ Cicero.

    Muggins

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    Re: NZ's Recession Response
    « Reply #3 on: March 16, 2009, 04:29:27 pm »
    Here's the original Wall Street Journal interview with John Key

    http://online.wsj.com/article/SB123655156808865323.html

    It sounds to me like our Prime Minister is definitely heading in the right direction, but it still kinda makes you nervous when you're a small player and you're taking a very different tack from everyone else.  One of the things that gives me hope is that our PM came from a poor family and built his own fortune (he's a self-made multi millionaire) through sound financial trading and hard work ...... he's not a career politician.

    Its either going to all work out brilliantly, or its not going to go very well at all.  Let's hope its the former.
    Common sense is not so common - Voltaire

    Splodge Of Doom

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    Re: NZ's Recession Response
    « Reply #4 on: March 16, 2009, 04:39:15 pm »
    It can't possibly turn out worse than the river Brown is selling us brits up.

    Yay for NZ!

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