Sunday, October 19, 2008

Enough cash till Christmas, then what?

No, unfortunately I am still here. I did not win Lotto last night. And neither did you.

The topic that is gaining more traction today is that of NZ Inc fast running out ready wedge, just like Iceland with its frozen banking system.

Mikhail Kullen has been very quiet of late. Some say awaiting the right moment to valiantly ride in on his primed steed to 'save the day'. More likely to appear late in a flagging election campaign to reel in wavering voters, cynics like myself might suggest.

The recently politicised Liarbour agency, Mickey's Reserve has seen fit to issue a statement today that there is only enough spare dosh in the system till the good times at Christmas are over. Excuse me, isn't that the same time time a 'mini-budget' has already been said to be required?
The political calculation will be feral. At issue is whether Clark and Cullen _ two extremely skilful political strategists _ are manufacturing a mini-crisis which will cement them as leaders in the voters' eyes if they come to the party (again) before the election by issuing an inter-bank guarantee to keep "Kiwis in business".

But to have a mini-budget, first you must be controlling the Treasury benches. Aah, that's where the crisis engineering comes in.

Since the global lack of credit is knocking the stuffing out of economies, Helen and Michael have partially saved the day with urgently arranged banking guarantees. Only trouble is that they did it without talking to the four big Oz banks that own so much of NZ Inc. Now they are letting that filter through.

Shortly, as the election campaign global economy worsens, the valiant knight will appear, offer a solution and all wavering voters will join up. Just by the skin of their teeth, Mikhail will have saved the day. And we will again have a coalition of the unwilling.

Yes, that coalition will be a seven headed hydra that I am sure global agencies will be sure to notice as all credit taps are firmly screwed shut for NZ Inc. Thinking of Mr. Scrooge? More like 'You ain't seen nothing like it'.

The alternative is a government led by someone with monetary experience who is making all the right noises about belt-tightening and direction change in these tough times.

You only have to choose it. Enjoy your Christmas hols.


Anonymous said...

I won Lotto.
i got $23.
That pays for my ticket last week, and this week.

PM of NZ said...

I actually won another line and $79 bucks. Paid for the last few tickets in the big one.