Nice post Crom.
Not only is the RBNZ's $28bn "FLP" program (is FLP short for FLOP??) an unbelievable waste of $$$ and a giveaway as to what lies ahead - I am pretty sure (95%) they didn't do it until the Govt gave them an indemnity as cover! If that isn't a sign of collusion (rather than their supposed independence) - then I don't know what is.
I am considering asking the Govt to institute an annual "FRIP" program (Funding for Rates & Insurance Program) for us cash strapped home owners.
As for the PM & DPM ... well, they are clearly out of their depth I'm afraid. On any sector of the economy, the PM just repeats any industry "buzzwords" she hears (LVR, carve out, DSR etc etc) to make it sound like she knows what she is talking about - and the DPM just trusts & prays that the Treasury and Orr & Co's decisions are the right ones.
Oh boy...
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