Peter

@cloudynetwork.bsky.social

🇬🇧 in NZ 🇳🇿. Random commentary on politics and econ. Mostly econ. Used to tweet about tech in the distant past.

We hear about Govt deficits every day during election time. Here's the rarely mentioned deficit that matters much more to households and the economy. Persistent household deficits over last 30 years in NZ have been second only to Greece. Let's have a look thru the others. [🧵1/n]

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But, rural recovery, dual speed something or other, right? Nah, regional areas also turning. Sorry. The ecomomy runs on oil and credit. The former is fking expensive, and the latter is getting choked by RBNZ. [3/3]

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Needed to 'do more for the economy'? Well what they did do was criticized as "over spending". Do people not realise that protecting jobs and getting money into people's hands was the best thing? Unless they meant shorter lockdowns to kill more people...👀 www.1news.co.nz/2026/10/11/f...

Former Ardern staffer recalls back-seat argument in new book

“I was suggesting, in fact, that I thought the Government was doing too much. It needed to do less. We needed to focus on the economy,” he said.

1news.co.nz

Latest NZ balance sheet data is out. Always a pleasure. We can start with our apparently perilously indebted government. Errrm, see those blue bars? They're higher than the yellow line, right? Yep, the private sector is in net debt to the Govt. Daft. [🧵1/n]

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