Friday Morning Coffee
Inflation in Australia is now forecast by the Aussie Treasurer to reach 7.75% in December 2022.
New Zealand media at TVNZ 1 News, NewsHub and NewsCrap ZB will carefully avoid making any headlines about this new forecast.
Otto’s Law states that – the only times New Zealand media make comparisons to Australia are when the comparison suits National Party narratives.
So far this week NZ media have been quiet about inflation in Australia.
The good news for our Aussie cousins is inflation is also forecast to drop to 5.5% by June 2023, falling away to 3.5% by December 2023.
The fresh Australian forecasts also came with news that there are signs things are going to get better. Here is a quote from “The Conversation 28 July 2022 ” :
“There are now tentative indications that some of the disruptions to global supply chains that played such an important role in the rise in inflation around the world over the past year or so are beginning to ease. Especially in the United States, surveys that picked up some of the producer price pressures which subsequently showed up in rising consumer price inflation are now pointing in the opposite direction.”
Meanwhile back here at home our media are fanning the new National Party narrative that an inquiry into why the Reserve Bank of New Zealand did – what nearly every other Central Bank also did in 2020 – to stop double digit unemployment.
The sudden new need for an inquiry just after inflation is thought to have have peaked in New Zealand – centres around the notion we can all learn from a good expensive inquiry – never mind the costs.
Right now we already know that the Reserve Bank of New Zealand was the third earliest central bank in the OECD to start tightening the OCR up again in 2021.
So it’s getting pretty nit picky to suggest we should have been the first in the world – to boldly go where no other central bank on Planet Earth had been before.
“Outrageous I demand an inquiry”, screams DumbTown.
We also know that on 17th August 2021 we went into a nationwide lockdown because Delta was in our community before we had high vaccination rates. Many companies needed business support and workers needed wage subsidies for a further 12 weeks – and the Reserve Bank Monetary Policy Committee decided to stall tightening things up by holding the OCR rate – on Monday 18 August 2021 for another six weeks until 6 October 2021.
Such an inquiry into these circumstances would make a useful political football for opposition parties if it could be conducted in election year, drag on – and the results come out – in the weeks before the 2023 election.
The Dominion Post editorial called it politics.
We are now thought to be passed the peak of CPI Headline inflation in New Zealand in the June quarter – so the National Party have likely long planned that there must be a transformed political narrative about inflation – implemented right about now.
Headlines must commence as former Governors of the Reserve bank who were appointed to power by National etc – suddenly all spring out from out of the woodwork and sing from the same Captain Hindsight song sheet.
Yes it’s pretty obvious – and there’s Brad from the flat ringing a bell chanting “Bring out yer dead” as the sad pack of stooges make hindsight noise in the streets.
Remember how earlier this year in February 2022 – Christopher Luxon told us all – he had seven and a half quarters to plan his election campaign to get one in two voters, voting for him?
Winning is Luxon’s singular goal and his entire focus is upon it – despite the terrible gaffes.
There is likely an election campaign plan per quarter – and this quarter ( July ,August, September ) part of the plan involves changing the conversation about inflation as it starts to come down and National’s nonsense about Government Spending being a big driver is a total giveaway.
Yes previous fibs now need some revision.
Evidence that Luxon has such a plan can be found on Saturday 28 May 2022 when Christopher Luxon spoke at the National Party North Island Conference in Hamilton and said :
“the cost of living crisis, that’s how we’ll win this election”.
Yes there’s a plan to use the “cost of living crisis” as a tool to win and this takes a team in the media and appointed “experts” to drive the narrative through certain gates.
Throw a dog in DumbTown a fake bone – and it will slobber all over it as if it’s the real thing – which is why so many National Voters already blame Grant Robertson who Luxon claims is “addicted to spending”.
Just don’t look at Australia right now and that dog will happily keep gnawing on that bone as Luxon blithers on repeating his script in small towns – according to his social media team lol.
Meanwhile rents are levelling out and falling in some places, petrol is down by twenty cents, tens of thousands of migrant workers are arriving in the country, 6000 migrant critical health workers are coming to the rescue in Health, exports are way up in the year to June, on average wages have risen by 6.8% and everyone had a massive laugh about Te Pukegate.
Despite all of the manipulations from National and some newsrooms who are part of National’s election planning – most kiwis can see that New Zealand has done a fantastic job of keeping science in the centre of our pandemic response – saving tens of thousands of lives – saving hundreds of thousands of jobs and we’ve also adjusted with new variants and opened up in tricky conditions as the pandemic is not over yet.
National and Act both called for even more spending on business support in 2020 and 2021 but now that it is 2022 …nobody in DumbTown really wants to be honest and own up about all of that.
Once again it all comes down to not being able to trust Christopher Luxon or Nicola Willis.
Both have been extremely economical with the truth and everyone saw that with Te Pukegate.
New Zealanders will give someone a fair go – but National are taking New Zealanders for fools if they think nobody can see what they are doing.
I don’t know about you but I don’t have time to be repeatedly lied to by Christopher Luxon with his revisionist sales script and his choir of Captain Hindsight cronies.
Media have propped this tragic misleading nonsense up for far too long already.
Friday Morning Coffee