Cullen evil/genius

--------------------UPDATE 1:18PM Friday 31/03/2006--------------------
Cullen has just been on National Radio where he gave his best song of all time as "I got plenty of Nuthin'" - from Porgy and Bess. The lyrics continue: "- and nuthin's plenty for me..." Patronising, stereotypically racist and hopelessly dated. What sort of message should we take from this?

Is he saying we should get used to having nothing - that we perhaps deserve nothing? Is it just white people who should have something? Or is he just trying to be humourous again? Staggering.
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NZ Herald reporting:

"A leading economist [at ANZ] expects the New Zealand dollar to fall to US50c by late this year or sometime next year. "

You see why Cullen created the Superannuation fund that then puts about 90% of it's funds in overseas currencies? As our dollar drops against them so the value of the fund (in NZ dollars) increases - without even having to do anything. With the drop being so steep the fund could even be running at a loss and it would still be growing in NZ$ terms.

He goes on to say:

"By late-2006 or 2007 he was expecting the kiwi to reach US50c as this country's interest rates fell, while those of some major economies rose.
In 2007 the New Zealand cash rate would probably be 5.5 per cent, while the US rate would be 5 to 5.25 per cent, Japan would have positive interest rates and European rates would be higher, Mr Bagrie said.
On top of that was an "absolutely massive uridashi redemption profile". Uridashi are bonds targeted at Japanese retail investors in New Zealand dollars.
"They will cash those in because the yield they will get in 2007 just will not be attractive for them to want to roll those over and reinvest."
Fair value for the New Zealand dollar was probably around US60c to US62c"

I will post elsewhere in more detail about this issue, but I will mention this: The People's Bank of China has grown it's foreign reserves from US$415B in January 2004 to US$818B in December 2005. Impressive. Shrewd. Hard to believe they are supposedly communist.