Bernard Hickey renounces his faith in the Free Market
Finally brother Hickey has renounced his faith in the neoliberal free market that has wrecked the global economy...
Bernard Hickey - The free market god doesn't exist
I feel like a priest who has been wrestling with his belief in god and has now decided god does not exist.
It's time for me to recant and to say what I've been thinking for months: the economic god of completely free markets and capital flows is not worth believing in anymore and we must look for other things to believe in and do.
I think New Zealand needs to have a debate about capital controls, about foreign ownership of assets, about measures to control our currency and about being openly nationalistic rather than internationalistic about our economic policy.
I think the Global Financial Crisis and the preceding decade of debt-driven instability in global capital markets and trade flows have demonstrated the failure of the economic model most New Zealand policymakers have adhered to for nearly 3 decades.
I think we need to rethink the way we run monetary policy, the way we allow foreign ownership of assets, the way we encourage savings, the way our financial institutions are regulated and change the things we are aiming for.
SING IT BROTHER!
Last week the 3rd quarter GDP figures came in, the Reserve Bank had predicted .7% growth, we actually grew by only .2%. This is all happening right when Paula Bennett launches her fucking great big stick and bugger all carrot Social Welfare Policy which will see Solo Mothers, the sick, the crippled and the mentally unwell forced back into work in a 6.8% unemployment environment.
I particularly love how Paula Bennett has sent letters to beneficiaries telling them they can no longer home school their children and must be forced to work instead.
Whanau, I don’t wish to be skeptical about claims that the recovery is here, but aren’t we facing a crises of capitalism caused by corporate merchant banker greed enabled by neoliberal Milton Friedman deregulation, low tax, free market dogma which will see a double dip depression?
The IMF see it, they see the threat
O-r-r-r-r we could all pretend fairies live at the bottom of our collective gardens and that we will fund tax cuts from the pot of gold under John Key’s GST tax rise rainbow.
To have Brother Hickey renounce his faith in the Free Market will make National Party supporters shiver and throw the right wing blogosphere into confusion. The reality is their beliefs and bullshit low tax, deregulation, free market dogma doesn't work.
This is 1932 and Keynesian managed capitalism once again is our only way out.