The ANZ Chief Economist is a scold, ticking us off in a tone-deaf article at Stuff for not saving for a rainy day. This is called rich-splaining, when a person who has never experienced poverty gives you patronising advice on how to get yourself out of poverty. There’
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 11 of 18 As described in Part 9 of this article, the unprecedented announcement by the UK government that it would create huge sums of money ex-nihilo and spend
There’s a term in economics, the precautionary savings motive, which refers to the point where consumers see enough trouble on the horizon that they start holding onto their cash for a rainy day. ANZ chief economist Sharon Zollner said Kiwis still have not reached that point, despite repeated warnings
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 10 of 18 One of the first actions of the first New Zealand Labour government (1935-1949) was to nationalise the RBNZ. The first New Zealand Labour Government then instructed
Last week the government announced, yes I know, a plan for a new bridge over Auckland’s harbour. This announcement should be filed in the same basket as 100,000 new Kiwibuild homes in 10 years, light rail to the airport by 2021, planting a billion trees, and a bike
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 9 of 18 It is notable, but unrelated of course, that in his book Mein Kampf, Adolf Hitler coined the term “Big Lie”, writing that “the broad masses” are more
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 7 of 18 Now that you have a basic understanding of how banks operate, you may find it interesting to read how ill-informed a group of major bank CEOs
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 6 of 18 In the mid-1980s, New Zealand’s building societies were de-mutualised and became trading companies. The trustee savings banks were allowed to morph into trading banks
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 5 of 18 If banks respond to an increase in the OCR by increasing the interest rates that they pay and charge, the mainstream media (MSM) often report that the
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 3 of 18 Economic booms and bubbles are caused by the fact that the money supply expands when banks create new loans faster than old loans are being repaid. The
Peter J Morgan Peter J Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 2 of 18 In PART 1 readers learnt that there is a widespread – but false – belief that banks are financial intermediaries that take in money from savers, aggregate it, and
Yesterday morning the National Party announced that they were proposing to re-write the education syllabus if they win the election. I’ve provided you with a link because it is now hard to find, such is the interest in the policy. Bold or stupid? I pick stupid because education
Peter J. Morgan Peter J. Morgan BE (Mech.), Dip. Teaching – professional forensic engineer, retired economics, mathematics and physics teacher PART 1 of 18 This is my attempt at a simplified, brief explanation of how the present debt-based money and banking system actually works, with some relevant history, and a
Dr Rainer Zitelmann fee.org Dr. Rainer Zitelmann is a historian and sociologist. He is also a world-renowned author, successful businessman, and real estate investor. Zitelmann has written more than 20 books. His books are successful all around the world, especially in China, India, and South Korea. His most
