The title reads 'Reserve Bank revises down growth foreCASTS'. The cartoon shows someone representing the 'Economy' with crutches and their leg In plaster - hence wordplay on 'cast' and 'forecast'. A statement made by the Reserve Bank on 16th September looked a shadow of the bright one it published three months ago. Quantity: 1 digital cartoon(s).
Shows a graph illustrating the 'Growth forecast' for the economy. A large finger representing the 'Reserve Bank' squashes the growth arrow as though it is a fly and it starts to zig-zag crazily downwards. The statement made 16th September looked a shadow of the bright one the Reserve Bank published three months ago. With its forecasts finalised the day before the Canterbury earthquake struck, the Bank has taken secateurs to its economic growth track, and a carving knife to its interest rate path. Instead of GDP growth pushing 4% this year and next, for example, it now struggles to reach 3% in each. It's tempting to think this has been driven by the wobbling international news over recent months. In fact it's been because of a suddenly sombre view around NZ consumer spending and the housing market. (Interest.co.nz) Quantity: 1 digital cartoon(s).
In the first seven of eight frames astrologer Ken Moon predicts a 'black day ahead', a 'day of great shaking' and 'terror' and 'children crying' and 'people fleeing' and 'a day in May'. In the last frame people realize that he has seen, not an earthquake, but the budget. Context - After the two big earthquakes in Christchurch on 4 September 2010 and 22 February 2011, the so-called Moon Man, Ken Ring, backed away from his prediction that Christchurch would be whacked by a huge earthquake on the 20th of March 2011. His claims terrified Cantabrians and led to people fleeing Christchurch. The 2011 budget will be announced in May and predictions are that it will be a cost-cutting one because of New Zealand's debt, partially caused by the Christchurch earthquakes. Quantity: 1 digital cartoon(s).