In last week's editorial, Rogers Rabbit revealed that he's trapped in his rabbit burrow, stuck in the past, seeking a laugh by taking a cheap shot at Dr Russel Norman's serious contribution to the debate on monetary policy and an overvalued NZ dollar.
Rogers Rabbit's award to the Green Party for Silly Idea of the Week reveals a poorly informed rabbit who is unaware of the widespread view that the govt's monetary policy is too narrowly focused. The concern is that this is hampering NZ's ability to respond to a volatile global economic environment and disadvantaging our manufacturing sector, causing loss of jobs. If the logic behind the proposal seems 'astounding” to this simple rabbit, he must be unaware of economists' and commentators' discussion in the media on the relative merits and drawbacks of the Greens' suggestion. Rabbits should know better than anyone that it is greens that sustain them! Rabbiting on about 'printing more money” may draw a laugh but simplistically dismisses the complex economic matter of quantitative easing with a derisory shake of a paw.
Let's hope Rogers Rabbit can emerge from his burrow and use his great sense of humour to entertain us, his readers, in more constructive positive ways.
Dr Ron Lopert, Welcome Bay.
1 comment
Rogers was right actually
Posted on 20-10-2012 09:59 | By Gee Really
Quantitative easing is simply a fancy term for printing more money. If the $NZ is overvalued it's only because other economies are actually worse (I know that's hard to believe). But the $NZ is very low against the $Aussie which is one of the reasons why some of our best are moving there. In Europe the German economy is booming, no quantitative easing there (perhaps they learned their lesson years ago). What we need to do is live within our means.
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