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Archive for 16 October 2011

A New Public Image Being Born?

16 October 2011 3 comments

Recieved today – and like John Key’s mysterious Standard & Poors “email” – my source will remain anonymous as well…

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national party billboard

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national party billboard

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national party billboard

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I assume the above three images depict the billboard facings coming down – not going up.

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national party billboard

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national party billboard

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Hmmmm, obviously the “artist” had a point to make about our Dear Leader, and not the local candidate? It will be interesting to see what other graffiti makes it on to National’s hoardings.

It is also interesting to note that, this graffiti aside, there seems to have  been remarkably little vandalism toward political hoardings. Are people that apathetic toward the 2011 election that even the vandals can’t be bothered?!

You have to wonder what they are putting into our drinking water…

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John Key’s foot-in-mouth syndrome

16 October 2011 3 comments

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In Parliament last week (4 October), John Key quoted a mysterious, anonymous, “email” which he daid  “inferred”  that, “when Standard and Poor’s was giving a meeting in New Zealand about a month ago, what it did say was that there was about a 30 percent chance that we would be downgraded. That is what happens when one is on a negative outlook. It did go on to say, though, that if there was a change of Government, that downgrade would be much more likely.”

However, a quick glance at the official government website, the NZ Debt Management Office not only doesn’t support that claim – but actually shows the reverse: Labour  actually RATES BETTER than National/Rogernomics governments.

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[Click on image for full size version]

Source

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Note that three credit downgrades happened duting three National governments; 1991, 1998, and this year. And if you include the Rogernomics period – that makes FOUR neo-liberal governments that were downgraded.

Do credit ratings agencies  seem “risk averse” to new right governments? Do they prefer centre-left governments?

First, look at 10 September 1998 (National government) – AA+ (negative outlook)

But when Labour came to power – 7 March 2001 – AA+ (stable outlook)

Stable outlook?!

Nah, must be a mistake. Let’s have another look at a following period…

6 August 2008  (Labour Government) – AA+ (stable outlook) re-affirmed

“Reaffirmed”?!

Well, bugger me! It  rather does seem that credit agencies look favourably upon  centre-left government policies rather than centre-right administrations.

Whoda thunk?!

John Key – wrong again. It’s rather getting to be a habit with the ‘infallible’ Dear Leader.

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Reference Sources

Hansards – 1. Credit Rating Downgrade—Effect on New Zealand Economy

NZDMO – New Zealand Sovereign Credit Ratings

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