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@muddyriver said in Inflation:
What I find ridiculous
Ridiculous, but not surprising. Not sure that Orr will go down as an effective Governor. I think we're seeing what happens when you lose focus on the key objectives, and start paying attention to all the noise - unemployment, politics, non-economic world views, etc. They are all important, but there is a core objective that RBNZ have been slow to address (inflation!)
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@nzzp adding maximum sustainable employment, (whatever that means) to the RBNZ's Policy Targets just ahead of a global pandemic and associated lockdown's didn't help either.
House price inflation supporting a blow out in(already high) household debt has contributed. Everyone wails about the problem but we all want other peoples houses to become more affordable. 50% of NZ's mortgages expire in the next 12 months and will have to be recalculated. That's going to be a world of hurt for a lot of people.
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@nzzp adding maximum sustainable employment, (whatever that means) to the RBNZ's Policy Targets just ahead of a global pandemic and associated lockdown's didn't help either.
House price inflation supporting a blow out in(already high) household debt has contributed. Everyone wails about the problem but we all want other peoples houses to become more affordable. 50% of NZ's mortgages expire in the next 12 months and will have to be recalculated. That's going to be a world of hurt for a lot of people.
are we still seeing the real effects of the stalling of real wage growth in the 90s, the subsequent explosion in household lending pushed by the finance industry to get people to still buy shit? The thing that blew up reasonably spectacularly in 2008. The thing we then tried to fix by dropping interest rates to nothing. And thus beginning the cycle again?
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@antipodean said in Inflation:
This should help address inflation in Germany
Don’t be uncharitable. Germany has ballooned their money supply before and there were hardly any negative consequences.
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Inflation