Written By: - Date published: 4:54 pm, October 22nd, 2011 - 41 comments
Bill English: “a change in the credit ratings could push interest rates up … about 0.1 percent.”
Nek minnit: Since the double downgrade, interest rates on new government bonds have risen by 0.2 per cent for bonds maturing in 2015 and 0.4 per cent for bonds maturing in 2023 … this will cost $100 to $150 million extra per year.
Written By: - Date published: 9:25 am, October 13th, 2011 - 15 comments
Key says an anonymous emailer told him that S&P said a Labour Government would make a downgrade more likely (more likely than ‘actually, already happened?’). S&P categorically denies saying any such thing. We can now reveal the identity of the anonymous emailer.
Written By: - Date published: 6:37 am, October 12th, 2011 - 55 comments
Not to mention the crisis at first five-eighth.
Written By: - Date published: 9:30 pm, October 10th, 2011 - 99 comments
John Key’s economic credibility was shattered by the double downgrade. Now, his personal credibility has been lost after he claimed that Standard & Poor’s said a Labour government would lead to another downgrade. S&P could not have been more blunt: “At no stage have we said that a rating downgrade was more likely if there were a change of Government”.
Written By: - Date published: 1:24 pm, October 10th, 2011 - 48 comments
The lies keep flowing as National desperately tries to limit the damage from the double downgrade. First, it was ‘doesn’t matter’ – Treasury says it does. Then, “hey, it’s just private debt” – the agencies’ reports say otherwise. Then it was just an international problem – less 1/4 of the OECD has been downgraded. Then, somehow, it was all Labour’s fault and would be worse under Labour – S&P says they’re lying on that too.
Written By: - Date published: 7:27 am, October 6th, 2011 - 123 comments
In the last few days Key has refused to accept responsibility for NZ’s credit downgrades, stated that he is “not concerned in the slightest” about his possible breach of electoral law, and used an unfortunate incident in Parliament to launch an ugly attack on Labour. John Key is no leader.
Written By: - Date published: 11:13 am, October 4th, 2011 - 12 comments
Bill ‘Double Dipton’ (or should that be ‘Double Downgrade’?) English says people aren’t focused on politics, which is why National is so high in the polls. When they focus on the main election issue of economic management, DD says the gap will close. Not exactly a strong defence of his and Key’s performance as economic leaders.