The hydra

A normally has seven heads, not five. has kindly provided this illustration.

There is a serious point to the talk about the five or seven headed Hydra.

We are in the midst of the most serious global financial crisis for 70 years. Getting through it with minimal harm will not be easy.

A Government of , Winston, Anderton, the and maybe is not one likely to cope well. Half of them want to abolish the Reserve Bank Act. Half of them don’t care about government debt. All of them want huge amounts more spending. Do you think they could credibly exercise fiscal and monetary discipline? Do you think they could make hard, even unpopular calls, if deemed necessary for the NZ economy?

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