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Speaker 1: Think hard before you jump. That was the Reserve Bank

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Speaker 1: economist Paul Conway in a speech this week trying to

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Speaker 1: explain monetary policy and the path inflation in our general

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Speaker 1: mess of an economy. The e commic was in part

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Speaker 1: an answer to a question about whether the approach the

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Speaker 1: Bank has taken to the economy was the reason why

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Speaker 1: so many New Zealanders were leaving. Think hard before you jump,

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Speaker 1: The prognosis, he went on to say, was good for

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Speaker 1: New Zealand. He is right to the extent. It always

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Speaker 1: comes right if you think about it. I mean, this country,

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Speaker 1: this planet is in a mess right now, but it

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Speaker 1: hasn't and it won't always be that way. History is instructive.

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Speaker 1: The leaving New Zealand debate has been had for decades.

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Speaker 1: We've been in a hole many times before. Young people

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Speaker 1: have hated the place dozens of times. Over half of

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Speaker 1: Australia's filled with the griebd kiwis who bailed first chance

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Speaker 1: they got. I detect a slight difference this time. A

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Speaker 1: lot of people ask or say, I don't know if

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Speaker 1: the government can fix it this time round. That explains

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Speaker 1: the current polling around confidence. Post election, confidence was up.

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Speaker 1: We had acted. We at lance the labor boil, but

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Speaker 1: then reality came back for a visit. The books were

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Speaker 1: worse than they thought, that were hidden dramas, fiscal clib

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Speaker 1: the economy got really ugly. Things started to bite. Whether

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Speaker 1: this government can turn that is still an open question

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Speaker 1: eight months on from the vote. And it's winter. It's

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Speaker 1: or way's worse than winter. And for what it's worth,

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Speaker 1: I don't have a shadow of it out. The Reserve

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Speaker 1: Bank has made it worse than it needs to be.

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Speaker 1: But I was around for Muldoon and he was a

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Speaker 1: calamity of historic proportions. And it took Douglas and a

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Speaker 1: series of deeply traumatic decisions to write that ship, but

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Speaker 1: he did it. And this lot, with fortitude, gonads and

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Speaker 1: no fear, can probably repeat the trick. But as we've

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Speaker 1: seen this week in surveys in Australia, there is unhappy

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Speaker 1: as us. The millionaires in Britain are bailing and record numbers,

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Speaker 1: lots of people have lots of agrievances. We are not alone.

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Speaker 1: Doesn't make our plight any less stressful, but we aren't

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Speaker 1: the only basket case in town. For more from the

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Speaker 1: Mic Asking Breakfast, Listen Live to news talks. It'd be

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Speaker 1: from six am weekdays, or follow the podcast on iHeartRadio