Cameron Bagrie becomes the first economist (after Bernard Hickey) to be honest about what we are facing
Here’s the thing.
Capitalism LOVES to fuck.
But it’s a VERY nervous fucker and needs a vast circle of economists and business journalists forever being optimistic and cheering positive messages of support to keep Capitalism’s ‘animal spirits’ positive and rooting.
If ONE negative word is uttered that is critical, Capitalism loses its boner and orgy of free market neoliberalism comes to a crashing halt.
That’s why the Economists and Business Journalists have been overly optimistic time after time after time. The green shoots of recovery are always promised but never here.
Capitalism takes from tomorrow what today never brings.
Which is why this scathing review of what is coming by Economist Cameron Bagrie is so very important.
He becomes the first economist after Bernard Hickey to be honest about what we are facing…
Global tensions and fuel shocks mark end of Great Moderation era – Cameron Bagrie
I often refer to New Zealand as being the two-bit player at the international roulette table linked to swings in global commodity, interest rate and asset price cycles.
Amid these cycles, however, we have entered a stage of more profound change.
The future will not look like the recent past.
There are three key areas I’m watching:
- The Middle East — though as a subset of the bigger geo-political and geo-strategic picture;
- The shift from The Great Moderation to The Great Transition; and
- Populism as angst drives political blowback.
NZME
…2 weeks ago the ASB Economists claimed the Iran war was over and didn’t even mention El Niño as any economic disturbance at all.
2 Weeks ago ASB Bank Economists were convincing us the recovery had simply been delayed, not derailed.
This comments seem ludicrous right now.
The last 3 El Nino’s caused $12billion worth of damage to the NZ Economy, the idea that the worst one in 150 years won’t cost us a cent is optimistic to the point of delusion.
The challenges we face are not defining what a man is.
It’s not removing Te Reo before English.
It’s not bashing the beneficiaries.
It’s not changing the rules for your donor mates.
It’s not climate denial.
It’s not propertied culture war Boomers.
It’s not da vaccines.
It’s not da Māoris.
It’s not da Treaty.
It’s huge economic issues that the Right refuse to do anything about because they are too busy enabling your petty bigotries with culture war hate bait…
…there is a terrible reckoning coming and all the Right have is enflaming the existing prejudice.
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Hallelujah Cameron Bagrie! At least someone has woken up to reality and now wishes to make it clear they can see the full picture. I still largely blame our media for the lack of honest reporting, who bend over backwards to reward every preposterous Luxon lie as if it was a real fact! After everything that this CoC hasn’t delivered “as promised” I would not take any notice of what dribbles from Luxon’s mouth via his non political brain. As far as ASB economists are concerned, time ASB recruited people with intellect and some integrity. Wake up the stupid out there – NZ is in a huge mess and being run by loonies, in denial, who are solely there for their own egos or money!