Economy

Waiting for Godot and inflation

Jenny Ruth
Sun, 14 Feb 2021

Former Reserve Bank governor Don Brash used to traipse up and down the country giving speech after speech, telling New Zealanders that inflation is theft.Brash was the first independent governor specifically tasked with quelling inflation which reached about 18 percent in the 1980s.He often told the story of an uncle who sold an apple orchard in 1971 to finance his retirement, putting the money into long-term government bonds, but saw inflation wipe out 90 percent of his savings by the time the bonds matured.A more personal experience of inflat...

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Waiting for Godot and inflation

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