Posts by Angus Robertson
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Heh. Good luck with that.
Heh, heh. The party most receptive to an increased use of regressive consumption tax in funding anything is likely to be Act, for ideological reasons. Perhaps Rodney Hide will be proposing that compromise next month and we will have "good luck".
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TVNZ need to be chastised in their reporting of the women's final (an upset victory to Svetlana Kuznetsova over world number one, Dinara Safina). They showed us one point being scored (not even a long rally) and the winner's speech.
Kuznetsova is such a nice person she did a really lovely speech so they had to show that. And it was a highlight of the match.
Safina choked and Kuznetsova didn't. If they wanted to tell the story of the game in a moment the double fault to lose match point would have been the replay of choice, anythingelse is a mercy.
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Perhaps ratings agencies are more into rating based on our projected debt loading in 2010 than 2023 or even 2013. The savings for 2010 are dominated by the cut in funding to the NZSF. I do not know enough about the ratings to say one way or the other, but assuming they are short term thinkers then the governments decision makes sense.
If a downgrade was to cause a 1% increase on the rate of interest we have to pay on our $45billion debt (making that about 6.7%), because we chose to invest another $3billion in the super fund then that $3billion would have to return a rate of about 21.7% to break even.
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If abandoning the NZSF were in fact critical in avoiding a credit downgrade then the equation does tilt significantly against investing in the NZSF. Any downgrade would increase the cost of all the debt we must undertake to finance all of government and not just the costs of borrowing for the fund.
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The general tone of restraint suggests that the MPs have heard enough on the grapevine to know that piling on in the usual manner would not look good.
Or they haven't got enough of the story yet and will pile on in due course.
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It's very unlikely that the NZSF contribution was a key consideration for taking us off downgrade-watch.
Do S+P base assessments on short or long term deficits? If short term then the NZSF is the major contributor, if long it is mostly irrelevent.
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Is Japan really that bad? Or do they show us the future where you can have a high standard of living without an obsession of "growing the economy" all the time?
Their immigration policies are draconian and isolationist crap.
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Keith,
This is a very well thought out post and better than DPFs, but it still deals with only the cost half of the equation.
This SF has lost $4billion in the last 12 months. Why should we invest $billions in a fund that has delivered such apalling losses? Sure Treasury is picking the SF to earn a $billion in 09/10, but if we were to look back at Treasury projections from 07 we would see that those projections were woefully inaccurate. Perhaps now is not the best time to be leveraging ourselves into aquiring an investment in the Super Fund.
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And all these years I thought it was a tax collector in the legend of Jesse James.
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so we cannot call someone a murderer until they're convicted, ergo we cannot yet call it a murder
We are entilted to make accusations of murder, for sure the guy who shot Tiller could sue us for slander but his burden of proof is going to be kind of difficult to overcome.