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Pull the other one, John

Written By: - Date published: 8:16 am, March 13th, 2012 - 81 comments
Categories: debt / deficit, Economy, john key - Tags: ,

Key to Mike Hosking: “New Zealand either needs to borrow more or earn more, and I’m in the camp that we need to earn more”

sourced from stats infoshare and the PREFU if you want to see the long-run. Just makes Key’s look even worse.

81 comments on “Pull the other one, John”

  1. marsman 1

    Earn more by selling off high yielding State Assets? What a slimeball.
    Borrow more to afford tax cuts for the wealthy? What incompetent slimeballs.

    • Treetop 1.1

      “Earn more by selling off high yielding State Assets?”

      Under Muldoon there was “think big” when it came to state assets. Under Key it is “think small” when it comes to gaining revenue from high earning state asset dividends.

      Under both the deficit has grown and grown and grown.

      • shreddakj 1.1.1

        The only thing the Nats are thinking big about is how much money they can skim off the top of the NZ People and into their mates’ back pockets.

        • Marjorie Dawe 1.1.1.1

          Maybe we should start asking for evidence to show where the money is going.
          Remember those words “Show us the money”!!

  2. tsmithfield 2

    Well, looking at the graphs, we certainly don’t need to borrow more.

    • Kotahi Tane Huna 2.1

      Especially since we are borrowing the money from the people who got the tax cut we borrowed the money to pay for.

      In fact, since the combined wealth of the richest Kiwis increased by $7bn between 2010 and 2011, I don’t think we should even consider paying them back.

    • mik e 2.2

      Tsm Maybe we could raise taxes on those who don’t pay any.

  3. The record speaks for itself, National are liars, hypocrites and have no idea what they’re doing or where they’re going.

    • Tombstone 3.1

      They know what they’re doing alright and voters let them get away with it last election. Brand Key was all about focus on the man, not the policies and certainly not the appalling management of the economy. Voters fell for it hook, line and sinker and Key and his rich mates have been laughing all the way to the bank ever since. Key is a shocker and I agree with others, a liar and hypocrite. He says one thing then acts out another. I don’t want to see Kiwis becoming tenants in our own country but I’m dead keen to flog these farms off to my mates in China – even as individual packages if need be. Two faced liar.

      • Enough is Enough 3.1.1

        Key knows exactly what he is doing.

        He was brought into the National caucus in 2002 with Don Brash to do exactly this. Brash fell over but Key was given the job his promoters put him in Parliament to do.

        Don’t be fooled by the fact everyone is suffering. ‘Everyone’ was never somehing he was told he had to worry or care about.

        This has been a 10 year project that was always going to come to fruition in the Nat’s second term.

        They will not see a third term but that does not matter to them. By that time the 10 year project will be more or less completed. The state sector will have shrunk, the state assets will be in the hands of corporate investors, the benefit system would have been dismantled, ACC will be privatised, schools will be private in drag. The net wealth of the top 5% will have increased by at least 100% at the same time the people falling below the poverty line increases to levels not seen since the depression, possibly ever.

        This is the most dangerous government in New Zealand’s history. Yes worse than Douglas or Ruth. time to stand up and fight

        • shreddakj 3.1.1.1

          So it’s like the bastard child of Muldoon and Ruth Richardson? Slash and burn neoliberal economics combined with the funnelling of state funds into projects (like their private-monopoly-establishing fibre optic plan, the building of private prisons and private charter schools) that will put more money in the pockets of their rich mates. Does that just about sum it up? Actually it’s a lot worse than that I think but it’s probably a start.

        • starlight 3.1.1.2

          You are right it was a long term strategy,remember the ‘secret’ recordings,in it key and
          english say they will go easy in the first term,then in the second term they will lauch
          their offensive on nz and it is offensive,thats all that can be said about the irrepairable
          damage key and english are inflicting on nz.
          Did nz see any benefit from ruthless richardson,shitley,muldoon etc? no because
          the nats only know how to line their own pockets and have no desire to look after
          the bulk of nz’ers,they need to be in power though to get their ill gotten gains,that
          is why there are lies,secret plans,corruption and yes they have to haul the starstruck
          in,enter the ‘key’ brand,job done ,nz hi-jacked by the few at the detriment of the masses.
          Key expected to get ‘unbridled power’ he did not,though he is behaving as though
          he did.

        • Kevin 3.1.1.3

          You are exactly right in your prediction.The National Party is committed to cleaning out what remaining blue ribbon assets this country possesses, selling them to their crony mates, and bringing the country to it’s knee’s.

  4. Colonial Viper 4

    The more assets we sell, the more our GDP goes straight into foreign owners pockets.

  5. vto 5

    So, if Key said this ” “New Zealand either needs to borrow more or earn more, and I’m in the camp that we need to earn more”…..

    then I trust Hosking responded immediately with “Well if you don’t want to borrow then why have you borrowed more than any other government in NZ’s history? Are you not saying one thing and doing another Mr Key?”

    did he? did he? betcha he didn’t. Hosking is useless.

    • tc 5.1

      Key will not attend any forum where he’s asked tough questions, Hoskins is another shill like Holmes, woodham, smith, Williams it’s what ZB does best.

      Suck up to the govt and dog whistle on their behalf, Hoskins is all hot air and pomp very little substance just rant.

    • rosy 5.2

      He could have also responded with ‘best we keep our income earning assets in our own hands then, Mr Key’.

  6. Rob 6

    Of course we need to earn more, why are you so offended by this comment.

    • aj 6.1

      Because he is either a hypocrite, a liar, or stupid, or a combination of all three.
      He has presided over a government that has earned less and borrowed shit loads. Despite this, he campaigned since 2008 on earning more and borrowing less, and has repeated this mantra for over three years while doing the opposite.

      • Chris 6.1.1

        While borrowing has been horrendous the graph shows GDP has increased since National came to power.

        • Hayden 6.1.1.1

          It’s increased from 7950 to 7800?

          • Chris 6.1.1.1.1

            National weren’t in power at the start of 2008 Q3 – they took power in November 2008 so effectively 2009 Q1 before they had a chance to do anything.

            • Hayden 6.1.1.1.1.1

              That’s a fair cop, but you said “since National came to power” so let’s go for $7850 as a start point. :P

        • Blighty 6.1.1.2

          No it hasn’t.

          National came in in Q4 of 2008.

          GDP per capita then was $7,818. Latest it’s $7,781

          and you should look at the increase in the previous decade to see real growth.

    • Blighty 6.2

      I think the offensive bit is the bit about him claiming to be all about growth not borrowing and, by extension, that his opponents are for the opposite when he has borrowed more than any other pm and has the worst growth record.

      • Jim Nald 6.2.1

        Can we start to see a pattern here for his success in his previous career ?

        Fine for that job but wrong person for the PM’s job.

    • Draco T Bastard 6.3

      Because, while saying that we need to earn more, Key is selling off our assets that contributes to the earning, Borrowing the most in our history and giving those borrowings to the biggest bludgers – the rich.

  7. Koptahi Tane Huna 7

    Key isn’t “offensive”, he’s a clear and present danger to the country’s well-being, deserving of a harsh and direct response.

  8. tc 8

    The most galling aspect is he’s given many soapboxes to keep telling these porkys and lull the sheeple into their trap as we don’t have any serious intelligent independant journalists anymore just lackeys to their cause.

    As an oz colleague remarked…..can’t your media read and understand economic data ? WTF is going on over there……the great neo lib con and sell off assisted by MSM mates with compliant owners.

    • King Kong 8.1

      When you start calling the NZ electorate “sheeple” you show what really lies at the heart of your political thinking…People of NZ are morons who don’t know what is best for them. Because of this democracy is a waste of time so lets crack on with the totalitarialism that Socialism always decends into.

      • Enough is Enough 8.1.1

        King Kong

        there is a multi billion dollar industry called marketing. This industry is run by the very people and corporations that endeavour to extract as much wealth as possible from the poor who can’t in turn afford to participate in this industry.

        Marketing works. People will do what Marketers tell them to do. Only one small sector of society can afford to market though.

        So yes the public are sheep because they aren’t told the truth

      • mik e 8.1.2

        KK The missing link is back with heavy handed B/S
        Like unfettered capitalism also descends into totalitarianism KK just look at hisTory.
        A balance between the two is the best for sheeple.
        If the balance tilts to far to the right or leftr it seems to do the most damage

        • Rusty Shackleford 8.1.2.1

          “unfettered capitalism also descends into totalitarianism”
          Can you give an example? The fascist regimes were had economies firmly guided by the govt hand. They more resembled the ideal of Keynesian economics, hardly unfettered capitalism.

          • McFlock 8.1.2.1.1

            Rusty, you give me an example of unfettered capitalism (or real-world application approaching the ideal, to a level of error to your satisfaction) and I’ll give you a totalitarian result (or real-world application approaching the ideal).

            • Rusty Shackleford 8.1.2.1.1.1

              The US, post civil war up till the progressive era, was relatively free market. No central bank or monetary monopoly. Zero income tax and low taxes in general. GDP growth was robust during this time and bank panics, although frequent, were short lived. Wages grew faster in 1880 than at any other point in the proceeding century. Inflation was low, actually trending towards mild deflation. Prices for many consumer goods dropped precipitously and many more goods became available for working class people. I could go on.

              • McFlock

                Fair enough. And there was the little matter of massacres of Native Americans, and the not-infrequent murders of union organisers (or poor people in general, or ranchers vs farmers), not to mention expansion into the Philippines and Cuba.
                   
                And even then the market collapsed into the Great Depression, leading to a number of acts that might have been economically necessary but were judged to be unconstitutional.

                • Rusty Shackleford

                  Much of the conflict you highlight was committed by govt(remembering, I never said the period was perfectly free market, just more so than today).

                  The great depression was the puncturing of an inflationary boom caused by the fed which had been instituted a decade earlier. The GD was not caused by the relative prosperity of the back half of the 19th century.

                  • McFlock

                    Government at the behest of the capital that ran it. And most of it was organised by good old fashioned private enterprise: “you provide the pictures, and I’ll provide the war!”
                          
                           
                    Relative prosperity – if you were one of the rich white people. Funded primarily by slaughter of Native Americans and the terrorising of recently “liberated” slaves (gotta love the growth rate of the KKK).
                    Summary executions (aka “lynchings”) done at the local or even non-civic level – just folks getting together in a nice government-free way. As for the GD, not getting into that again – somewhat a digression from a digressive point. 
                       

                     

                    • Rusty Shackleford

                      And the problem of capital controlling govt has grown worse as govt power has increased.

                    • McFlock

                      But Rusty, it’s a feedback loop: Capital provides an advantage in government -> the advantage in government provides leverage for capital to require government intervention -> the intervention is in favour of the capital (i.e. the payoff for dallying in politics) -> more capital provides greater advantage in government and greater incentive to dally. 
                             
                      That’s the point – unfettered markets provide capitalists with an advantage to manipulate the government into serving their own interests. In the long run it’s more brutal and restrictive than a moderately-regulated market. 

                    • Rusty Shackleford

                      Fine, let’s scale back to only moderately regulated markets.

                    • McFlock

                      lol – IMO markets are already too lightly regulated…

                    • Rusty Shackleford

                      Let’s take a look at that.

                      What is involved in all transactions? Money. Who controls the money supply and issuance of currency? The government. Money being one side of all transactions, fully 50% of markets are completely govt controlled. And we haven’t even got onto taxes and regulations yet.

                    • McFlock

                      much lolz! Are businesses prohibited from providing their own fungible token means of exchange? Nope- discount or freebie coupons are an example, as are flight points.
                         
                      But government-issued money is more reliable (both in preserving value and in universal acceptance) in the marketplace than mcdollars or barter, so the vast majority of the population choose to use govt funds. There’s no law saying I have to use coin, is there? But the marketplace chooses to do so, because it’s more efficient than anything private enterprise comes up with.

                    • Rusty Shackleford

                      “Are businesses prohibited from providing their own fungible token means of exchange?”
                      Yes they are. Try paying your taxes with a New World coupon book (do they still make those?)

                      “But government-issued money is more reliable”
                      Sincerely, that is one of the dumbest things I have ever heard from someone who claims to be knowledgeable about economics. The value of the $NZ is guaranteed by law to be worth at least 1% percent less in 12 months than it is today. Often it exceeds that amount. The value of the $US IS 1% of what it was in 1929. Almost no other asset class performed that poorly.

                      “There’s no law saying I have to use coin, is there?”
                      http://en.wikipedia.org/wiki/Legal_tender

                      “But the marketplace chooses to do so”
                      The market place has nothing to do with it. Fiat currency is forced on the population by govt. Precious metals were the medium of exchange of choise for millennia. The idea of paper as money, backed by nothing, is a relatively recent invention.

                      Much lolz indeed.

                    • McFlock

                      Not being able to pay tax with coupons is sort of the point – private currency is not something anybody else has to accept. Legal tender, they do.
                          
                      And reliability of legal tender is more reliable than private currency  - even if it might not be perfect. I still have a couple of vouchers lying around from stores that no longer exist. Governments go under less often than businesses. Valueless is a hell of a lot worse than devalued. 
                                 
                      As a consumer, there’s no law saying I have to use legal tender. As a vendor, I have to accept it if offered, fair enough. But if my private means of exchange, say fly-bys points, were better than legal tender, my customers would only offer fly-bys points. That’s the market in action – I thought you’d know that?
                              
                      As for the evolution of currency, the measure of value is essentially arbitrary. It’s essentially a token of confidence and good faith. Back when money was based on precious metals, the economy was occasionally distorted by rapid changes in supply of those metals (e.g. silver taken to Spain from Central and South America, or Roman gold from Spain) but no change in production of anything else. The resulting inflation was basically the same as the credit crunch – money was no longer based on such a scarce resource, it devalued, and consumer confidence sunk proportionately.
                          
                      A means of exchange is not bartering by token. It is the item of transferable value, and the rest of the economy is benchmarked around it. I can go either way on the gold standard, but can see the point to having the value of the currency linked to a supply the government can control. And the key thing thing that the government has complete control over the supply of is the currency itself.
                       
                       

                    • Rusty Shackleford

                      “the measure of value is essentially arbitrary.”
                      This isn’t true. Value emerged out of what quantities of goods could be exchanged for other quantities of goods (and services). The ratios are extremely complex and ever changing. Try bartering for a dozen eggs if all you have to exchange is a tractor.

                      Gold (and other items) emerged as currency independently in disparate regions of the globe because that is what the market demanded. Nobody controlled it, other items could easily have substituted for gold. Fiat money isn’t analogous to this as it is controlled by an institution. If it gets devalued, people can’t easily move away from it into other exchange commodities. Gold they can.

                      “the economy was occasionally distorted by rapid changes in supply of those metals”
                      But, it’s constantly distorted by rapid changes in the supply of paper and electronic money. In far greater quantities. The Reserve Bank could create a trillion dollars before lunch if it wanted to. Try digging up that much gold.

                      “And the KEY thing thing that the government has complete control over the supply of is the currency itself.”
                      You really want him in charge of one side of all transactions that take place?

                    • McFlock

                      Value emerged out of what quantities of goods could be exchanged for other quantities of goods (and services). The ratios are extremely complex and ever changing.  

                       But whether a dollar buys a pound of gold or 1/1000th of an ounce is arbitrary. What counts is that it is a yardstick against which everything else is measured, not that it is nailed to the price of precious metals or a weight of salt.
                       

                      Fiat money isn’t analogous to this as it is controlled by an institution. If it gets devalued, people can’t easily move away from it into other exchange commodities. Gold they can.

                      Yeah, in order to move into another medium of exchange they’d either need a forex market or even maybe a gold trader at the local mall. Such things would never be seen /sarc

                      If fiat money were so hard to get away from, why is it that   in most warzones when the local currency is worthless black markets operate on cash like USD, Euros or RMB?
                      And fiat currency is electronically transferable around the planet. Gold isn’t.  

                      Historically, gold and silver rushes have been large enough to distort economies. If a government doesn’t want to distort the economy today, it slows the generation of money. In the old days, it would have had to spend a lot of money preventing people from digging it up themselves. E.g. the largely futile attempt to stop conflict diamonds entering the global market doubles as a way for the controllers of diamond supply to preserve the value of their commodity. But it simply doesn’t work.

                       
                      And if you knew the RBA, you’d know that it’s Bollard who controls the money supply in NZ. With specific objectives to maintain currency value – although I’d also tack in other economic benchmarks. And I’d sure as shit trust a politician (who can be kicked out after 3 years) rather than say a De Beer or a Zaharoff or a Hearst or any other upstanding crook businessman.
                       
                       

                    • Rusty Shackleford

                      “But whether a dollar buys a pound of gold or 1/1000th of an ounce is arbitrary. ”
                      It isn’t arbitrary. Money is a commodity. Just like gold, socks or beans. You can price commodities in quantities of other commodities. Try trading a basket of vegetables you grew to your neighbor for his car and see what he says about prices being “arbitrary”.

                      The peg of the dollar to gold is arbitrary, but I’m not advocating for that. The govt can continue to issue worthless scrip if it wants to. Just don’t stop free people from issuing their own currencies.

                      “…in order to move into another medium of exchange they’d either need a forex market or even maybe a gold trader at the local mall.”
                      There is a gold trader at my local mall. I’m not exactly sure what your point is.

                      “If fiat money were so hard to get away from, why is it that in most warzones when the local currency is worthless black markets operate on cash like USD, Euros or RMB?”
                      Because those currencies are simply less debased than the local currency. Still debased, just less so.

                      “Historically, gold and silver rushes have been large enough to distort economies.”
                      When? Historically, fiat money has and continues to distort economies.

                      “the largely futile attempt to stop conflict diamonds entering the global market”
                      Conflict diamonds are a politically supported ruse to keep the price of diamonds high. Diamonds aren’t actually that rare.

                      “And if you knew the RBA, you’d know that it’s Bollard who controls the money supply in NZ. With specific objectives to maintain currency value”
                      He is a paragon of Friedmanite economic theory. A mmonetarist through and through.

                      He doesn’t do a very good job of maintaining the value of the currency. He is mandated to devalue it by at least 1% a year. That is not stable pricing. It’s theft.

                      “I’d sure as shit trust a politician rather than say a De Beer or a Zaharoff”
                      I don’t trust any of them. I’d rather see the means of exchange decentralised.

                    • McFlock

                      The peg of the dollar to gold is arbitrary, but I’m not advocating for that. The govt can continue to issue worthless scrip if it wants to. Just don’t stop free people from issuing their own currencies.

                       
                      Governments don’t stop people from inventing or using other means of exchange (barter, fly-bys, other national currencies). They just ensure that there’s at least one means of exchange that is universal within their territory, thus enabling more efficient commerce.
                       

                      There is a gold trader at my local mall. I’m not exactly sure what your point is.

                      My point is that other means of exchange are already available, and yet almost everybody in NZ uses NZD. Not because they are forced to, but because it gives us the freedom to move from store to store to get the best deal. Similarly, in warzones etc people move to other currencies freely. There is choice to move to other means of exchange all the time. But the fact that a national currency is guaranteed to be accepted anywhere in the territory makes NZD the most efficient means of exchange, so people choose that.
                      Or should Countdown be forced to accept NW coupons?

                       
                       
                      “Historically, gold and silver rushes have been large enough to distort economies.”
                      When? Historically, fiat money has and continues to distort economies.

                      As opposed to “decentralised”  currencyspeculation within countries, not just internationally.
                       

                      Diamonds aren’t actually that rare.

                      My point exactly. So linking the value of means of exchange to any commodity means that preserving a relatively constant value of the means of exchange relies on the ability of your decentralised market being able to restrict the supply of that commodity (or maintain production levels, in the case of oil).

                        
                      He doesn’t do a very good job of maintaining the value of the currency. He is mandated to devalue it by at least 1% a year. That is not stable pricing. It’s theft.

                      But it’s more stable than currency values determined by a sharemarket equivalent.
                       

                      “I’d sure as shit trust a politician rather than say a De Beer or a Zaharoff”
                      I don’t trust any of them. I’d rather see the means of exchange decentralised.
                       

                      Of course, “free markets” naturally form oligarchies like Hearst and so on. Capital advantage breeds capital advantage.

                    • Rusty Shackleford

                      McFlock, the first man to call someone a right wing nut job when they don’t subscribe to his special little view of the world is also the first to vehemently defend neo-liberal policy when his special little view of the world is threatened.

                      “Capital advantage breeds capital advantage.”
                      Tell that to Kodak.

                    • McFlock

                      McFlock, the first man to call someone a right wing nut job when they don’t subscribe to his special little view of the world is also the first to vehemently defend neo-liberal policy when his special little view of the world is threatened.

                      Seriously?
                      Where did I defend that?
                               
                      And more to the point, is your position that inflation affects government money, but not your “decentralised” limited means of exchange?

                    • Rusty Shackleford

                      Central bank activism is monetarist/neo-liberal policy. The first governor to really get involved in economic cycles was none other than Don Brash.

                      “…inflation affects government money, but not your “decentralised” limited means of exchange?”
                      I never said that either. People are likely to flee from a private currency that is losing its value. Working people can’t really flee from the dollar because what are their alternatives? Some buy gold or other commodities or other currencies but most don’t have the knowledge or wherewithal. They just accept inflation as a matter of course when they don’t really have to.

                    • McFlock

                      Central bank activism as the only mechanism of economic management, and solely obsessed with NAIRU as an economic target is monetarist/neo-liberal policy. The first governor to really get involved in economic cycles was none other than Don Brash.

                       FIFY.
                       And Brash had to work to the description in the RBA – change that and you have a Reserve Bank that works in concert with the rest of the economy.
                       

                      “…inflation affects government money, but not your “decentralised” limited means of exchange?”
                      I never said that either. People are likely to flee from a private currency that is losing its value. Working people can’t really flee from the dollar because what are their alternatives? Some buy gold or other commodities or other currencies but most don’t have the knowledge or wherewithal. They just accept inflation as a matter of course when they don’t really have to.

                       People flee from a public currency when the cost of losing its value exceeds the benefit that universal tender gives them. But the public money supply is so stable that I can’t use my McD’s free burger coupon to pay for petrol. Maybe one day you’ll be right and government will fuck up so badly that I can (but that will probably be “run for the hills” time anyway).
                         
                      You really expect people who walk past gold-traders and currency exchanges in their local mall (but still lack the “knowledge or wherewithal” to use them) to have the “knowledge and wherewithal” to speculate on internal currency fluctuations like day-traders (who are hardly ever successful, anyway)? I’m not sure you’ve thought this through.
                            

                       

                    • Rusty Shackleford

                      Ermm, the RBA came in at the height of the neo-liberal reforms.

                      “change ‘that’ and you have a Reserve Bank that works in concert with the rest of the economy.”
                      What is ‘that’? The RBA? How will changing the RBA make the Reserve bank work “in concert with the rest of the economy’.

                      I can’t believe you’re actually defending central banking. You’re probably in the minority on this site, and certainly in the minority amongst anyone who has ever studied the issue who isn’t a corporatist shill. Central banking works diametrically opposed to free citizens and works directly for the rich and large companies.

                      I suppose I shouldn’t be surprised by internal inconsistencies from you at this point.

                      “the public money supply is so stable”
                      Stable compared to what? I wouldn’t call a 70% devaluation since 1970 stable. No other asset or commodity has performed that poorly.

                      And stop calling coupons an alternative to money. I honestly thought you were being facetious the first time you brought it up. Try issuing your own currency and see what happens to you. There is NO currency competition in NZ. If you issue paper money as a medium of exchange, even if it is backed by a corresponding asset, you will go to prison. End of.

                      “Maybe one day you’ll be right and government will fuck up so badly that I can (but that will probably be “run for the hills” time anyway).”
                      Erm, well yea. That is kind of my point.

                      “to speculate on internal currency fluctuations like day-traders”
                      Good job! You thrashed that straw man to pieces! I almost feel sorry for him.

                      Currency fluctuations are caused by central banking practices. ie fiat money. If we had gold as our currency people with savings would be richer today than they were a year ago. Simply through deflation. Not even looking at appreciation in the value of the commodity. People wouldn’t need to speculate. Speculation is a by product of the inflation endemic in the issuance of a monopoly fiat currency.

                    • McFlock

                      Rusty, if you can’t identify the subject of a pretty simple paragraph, I’m not surprised you’re a tory.
                                    
                      Firstly, the RBA did come in as part of 4Lab. That does not make it bad. So did nuclear free legislation. I’m sure Roger Douglas was nice to a small child around that time, too. What makes RBA of the late 80s a truly crap idea is that it was solely obsessed with inflation as a target, rather than including GDP and unemployment. Add targets for those two – as a start – and it becomes quite interesting in a good way.  Hence the “that” – change the description that the RB works to in the RBA, i.e. the fixation on inflation. Meaning as soon as the economy starts growing, we don’t have the RB trying to slow everything down because unemployment is falling.
                               
                      Your obsession with central banking is typical of a knee-jerk “govt bad, therefore central banking bad” response, rather than actually looking at the whole subject. I don’t see the inconsistency from what I ight have said previously, but feel free to provide a link.    

                            

                      “the public money supply is so stable”
                      Stable compared to what?

                       Again, your inability to understand English. Preceding sentence you failed to quote: “People flee from a public currency when the cost of losing its value exceeds the benefit that universal tender gives them.” So the the value the public money loses (its instability) is smaller than the economic benefit people gain from being able to use it everywhere in NZ. Unless of course you can find me a law in NZ that prohibits me from issuing a promisary note that can be redeemed at any time for a given quantity of gold or potatoes.
                       

                      I wouldn’t call a 70% devaluation since 1970 stable. No other asset or commodity has performed that poorly.

                       
                      Not one asset? In the world? How about those transrail shares bought in the 1990s? DotCom bubbles? Real estate bubbles?  Zimbabwe farmland? Enron shares? A 1975 mini cooper? A monohull oil tanker built at the same time?   
                          
                      And you assume that “decentralised” money isn’t equally vulnerable to inflation and speculative devaluation.

                      If you issue paper money as a medium of exchange, even if it is backed by a corresponding asset, you will go to prison. End of.

                      Source? I’ve not heard that one before. Coupons count, IMO, because they are tokens that are exchanged for goods or services. Like dollars.
                       

                      “Maybe one day you’ll be right and government will fuck up so badly that I can (but that will probably be “run for the hills” time anyway).”
                      Erm, well yea. That is kind of my point.

                      What, that if government cash screws up I WILL be able to use McD coupons instead of dollars? But that petrol stations simply choose to not accept McDs vouchers today because they aren’t allowed?
                       
                       

                      Currency fluctuations are caused by central banking practices. ie fiat money. If we had gold as our currency people with savings would be richer today than they were a year ago. Simply through deflation. Not even looking at appreciation in the value of the commodity. People wouldn’t need to speculate. Speculation is a by product of the inflation endemic in the issuance of a monopoly fiat currency.

                      So gold prices are guaranteed to go up forever? People who invested in property over the last few years experienced the opposite. People speculate about gold. Companies expanding mines into lower-yield areas are speculating that the new high prices will remain in place long enough for the more expensive mining practices to still make a profit.
                         
                      And when you talk about “decentralised” money, are you talking gold or just everyone issuing script promising to be of the value of a certain quantity of whatever-the-fuck?
                             

      • rosy 8.1.3

        Or we’ll just start taking their democracy off them in little bits – ECan, CERA, super-city set-up, employee rights. Clearly the party in power doesn’t think much of democracy.

  9. The Baron 9

    Graph 1. “hey what else happened since 2008, beyond this govt’s control, that could explain this??!”

    Graph 2. Didn’t the labour party essentially promise to borrow even more than this over the next five years, had they have won? Aren’t you one of the voices, Zetty, that have screamed any number of times for fiscal stimulus to drive wage growth? Where do you think that stimulus would have come from?

    Oh that’s right, the solution to both is the magical money tree that Phil Goff found!

    You’re a partisan, hypocritical hack Zetitic. This strategy of outrage on finances still doesn’t work because the electorate isn’t full of the idiot public that you take them to be.

    • shreddakj 9.1

      1. That global recession that our Dear Leader assured us we were “roaring” out of.
      2. They said they were going to borrow to maintain the economy, which they would have done. That’s called being honest. Nact are borrowing to pay for things which destabilise the economy, like tax cuts for the rich.

    • Bored 9.2

      As usual Baron does not actually address the real issues, so some questions:

      Graph 1. “hey what else happened since 2008, beyond this govt’s control, that could explain this??!” yes the financial crisis….to which a prudent government might have responded how? (Try cancel tax cuts, examine carefully bail out facilities to SFC etc perhaps).

      Graph 2. Didn’t the labour party essentially promise to borrow even more than this over the next five years, had they have won? As above, when an unexpected event occurs perhaps a little prudence would dictate a different course of action like cancelling planned spending or shoring up income? Not having promised unaffordable tax cuts would have helped perhaps?

      Baron in his usual pillock way has postulated a “Labour equivalent” for the time Nact have governed whilst completely ignoring the reality the graphs demonstrate. That I suggest is a complete disregard by Key and English for prudence and an extreme hurry to place the burden of debt on the citizens for the benefit of a very few of their wealthy supporters.

  10. Huey,duey,luey could manage this economy better,key is borrowing $380 mil a week,he got caught out by borrowing more than he needs,a probe here please, also a probe into the fact
    that he is a shareholder in the bank of america where he is borrowing the money from,if
    he is borrowing more than needed,who is getting the benefit of those surplus funds?

  11. Bill 11

    …I’m in the camp that we need to earn more”

    You do get it, that the ‘we’ camp John claims to be a party to isn’t any camp seeking solutions with regards NZ, don’t you?

    The ‘we’ who have to earn more money are Johnny Boy and his ‘rip, shit and bust’ mates. And they’re setting it up nicely. And will be doing just fine soon enough…

  12. Kevin 12

    By the way Hoskings is not that bright and Key finds it easy manipulating him.

  13. (A different) Nick K 13

    John Key made a lot of money, therefore he must be doing the right thing for the country. I trust him and his cheesy smile over statistics any day.

  14. Blue 14

    When you give massive tax cuts right as a global recession hits, one of two things can happen.

    1. The tax cuts have a huge stimulatory effect, larger than has ever been recorded previously, boosting confidence and leading to a mass wave of consumption and investment while everyone is simultaneously nervously eyeing the rest of world to see if economic collapse is imminent.

    2. The Government is starved of revenue as consumption falls, jobs are cut, and exports plunge, leaving the Government to borrow lots of money and spin some bullshit about how the recovery is going to happen any moment now and they will be able to pay off the debt.

    Spending a billion on bailing out South Canterbury Finance investors probably didn’t look like such a great move after the Christchurch earthquakes hit either.

    Oh, to have had Michael Cullen as Finance Minister for another term.

    • shreddakj 14.1

      “One of two things can happen”

      Both of those things happened, almost. Nact cut taxes and starved revenue even further. This had zero stimulatory effect on the economy though, so that part of your scenario 1 didn’t happen at all. Then the government had to borrow a truckload because they had castrated the revenue stream, and didn’t put any of the money into schemes that would stimulate the economy. So they did everything just about as bad as they possibly could have. The worst of all worlds.

  15. Mark 15

    Just a question.. how much did the massive tax cuts cost.. if we can call that a cost rather than a theft reduction.
    And on what income bands did the greatest “cost” occur..
    What have the taxpayers done with the extra money they have been “given” 

    • shreddakj 15.1

      If I recall correctly, the latest round of tax cuts are leaving the government’s coffers about 2 billion dollars a year out of pocket. If John Key’s net worth is anything to go by, they’ve been busily increasing their own personal empires.

  16. Rusty Shackleford 16

    Notice how there’s no correlation between govt spending and GDP? You could extrapolate that out for decades and this axiom would remain.

    • McFlock 16.1

      And how do you get government spending from either of those graphs, Rusty?

    • Bored 16.2

      Even for you Rusty that is quite possibly the most stupid statement I have seen for a while. And it does not even relate to information on the graphs.

    • Draco T Bastard 16.3

      Government deficit closely matches private surplus. I think that’s the most telling statistic about the delusional economic theory we use.

  17. Rusty Shackleford 17

    The govt doesn’t spend the money it borrows? Interesting.

  18. McFlock 18

    Debt = spending – income, where income < spending.
          
    If you, say, cut income but maintain constant spending, then debt increases.
            
    So if you cut taxes and your spending remains the same, your debt goes up. 
       
    There is insufficient data in the graphs supplied to speculate on government expenditure levels. But don’t let that get in the way of your economic catechism. Freedom of religion, and all that.

  19. law 19

    Long term trend is an interesting look… seems the growth in debt has been on a steady increase since 2007 despite massive surpluses

    http://upload.wikimedia.org/wikipedia/commons/0/0f/New_Zealand_overseas_debt_1993-2010.svg

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    Labour | 14-04
  • Adequate resourcing needed for victims’ advocate
    The establishment of a victims’ commissioner role will only be meaningful if it is properly resourced to do the job of advocating for victims’ interests, Labour Justice spokesperson Andrew Little says. Justice Minister Judith Collins has just recently indicated her...
    Labour | 13-04
  • IPCC report shows Government ignoring climate experts
    The Intergovernmental Panel on Climate Change's (IPCC) report into climate mitigation, just released in Berlin, shows the National Government is ignoring the pleas of the world's best climate scientists.The report says deep and fast emission cuts are vital from all...
    Greens | 13-04
  • Japan’s quick turnaround on whaling disappointing
    News that Japan plans to recommence some form of “scientific” whaling programme so quickly after the International Court of Justice’s ruling against it is very disappointing, says David Shearer, Labour’s Foreign Affairs spokesperson. “New Zealanders expected the ICJ ruling -...
    Labour | 13-04
  • Reviewable tenancies will increase risks for vulnerable children
    Instead of kicking families out of their homes if they can pay their rent, parents with young children should have the opportunity to purchase equity in a state-built home over time, the Green Party said todayFrom July, Housing New Zealand...
    Greens | 13-04
  • 48,000 New Zealanders drinking faecally contaminated water
    Some 48,000 people were provided with water that had issues with faecal contamination, 18,000 of whom were from Canterbury, the Green Party said today. The Ministry of Health's Annual Report on Drinking-Water in New Zealand for 2012/13 shows that 48,000...
    Greens | 12-04
  • Labour will move to save the Kauri
    Labour will spend $20 million over the next 10 years to stop the spread of Kauri dieback disease, says Labour Leader David Cunliffe. “We are facing an ecological disaster with over 11 per cent of the Kauri trees in the...
    Labour | 12-04
  • SPEECH: Saving our Kauri
    Seech notes Good morning. Thank you for joining us here today. As a West Auckland MP I am very aware the kauri is an important part of this place. The Waitakere Ranges with their thousands of kauri, are a taonga....
    Labour | 12-04
  • MANA to continue negotiations with the Internet Party
    The MANA AGM has decided unanimously tonight to continue negotiaitions with the Internet Party. Within a month further negotiations, further consultation with MANA branches and a final decision on whether to proceed with a relationship is expected....
    Mana | 12-04
  • National’s tax dodge
      National’s insistence that it is cracking down on tax dodgers is little more than a bit of election year chest beating, Labour Leader David Cunliffe says. “Revenue Minister Todd McClay surely doesn’t believe collecting $100 million of an estimated...
    Labour | 12-04
  • Housing prices go up – Gens X & Y give up
    Today’s REINZ report shows house prices continue skyward while first home buyers are dropping out of the market, says Labour’s housing spokesperson Phil Twyford. “According to the Real Estate Institute of New Zealand the national median house price has risen...
    Labour | 11-04
  • Do Key and Adams support Chorus appeal?
    John Key and Amy Adams must tell New Zealanders whether they support Chorus’ appeal of the High Court’s ruling in favour of the Commerce Commission, says Labour Leader David Cunliffe. “Chorus’ appeal is a waste of time. The company is...
    Labour | 11-04
  • Is Judith Collins unapologising
    Judith Collins appears to have retracted her apology for failing to disclose her meeting with her husband’s fellow company directors and a senior Chinese border control official just weeks after being ticked off by John Key for not doing so, Labour...
    Labour | 11-04
  • Media Advisory
    There have been a few minor changes to the MANA AGM agenda. Moana Jackson is unable to attend due to family commitments. Speaking in his place on Saturday morning MANA is pleased to welcome Georgina Beyer and Willie Jackson. MANA...
    Mana | 10-04
  • Green Party requests inquiry into Peter Dunne and Trust
    Green Party MP Denise Roche today wrote to the Parliamentary Registrar of Pecuniary Interests requesting an inquiry into whether Peter Dunne should have included his involvement as chair of the Northern Wellington Festival Trust on the Register of Pecuniary Interests...
    Greens | 10-04
  • Veterans short-changed
    The Veterans’ Support Bill reported back to Parliament today rejects a key recommendation of the Law Commission Review on which it is based and ignores the submissions of veterans and the RNZRSA, says Labour’s Veterans’ Affairs Spokesperson, Phil Goff. “A...
    Labour | 10-04
  • Tribute for Maungaharuru- Tangitu settlement
    Labour Member of Parliament for Ikaroa-Rāwhiti, Meka Whaitiri paid tribute to Maungaharuru-Tangitu today as their Treaty of Waitangi settlement became law. “The Bill acknowledges Treaty breaches that left Maungaharuru-Tangitu virtually landless. Today we were reminded of the history, mamae, loss...
    Labour | 10-04
  • Our government: still no idea
    Happy Easter everyone, bad weather aside. A previous post of mine was called “The Government with no ideas”.  Unsurprisingly, the theme of the piece was of a current government thoroughly absent of any creative ideas or solutions to assist more...
    The Daily Blog | 18-04
  • 12 things Forbes has to say about NZs about to burst economic bubble
    Forbes is not known for their socialist or left wing activism, so when they predict a grim economic failure, we should should collectively poo ourselves a little. National often get given this perception that somehow they are better economic mangers....
    The Daily Blog | 18-04
  • That Sinking Feeling: Labour’s urgent need for persuasive words and coura...
    THE LATEST ROY MORGAN POLL has Labour on 28.5 percent (down 3.5 percent) and the Greens on 11.5 percent (down 1.5 percent). At 40 percent, the combined vote of the two main centre-left parties has fallen 5 percentage points since...
    The Daily Blog | 18-04
  • Why the Labour movement should support a Universal Basic Income
    The Mana movement’s support of the idea of a universal basic income is a welcome development. It could become one of the litmus issues that define the party and prove extremely popular. If Mana are in a position to do...
    The Daily Blog | 18-04
  • Legal high and cannabis regulation
    I marched through Henderson last month with my fellow Westies to express our concern about the impact of so called “legal highs” on our community. Some people chanted loudly calling for banning, some expressing anger at the parliamentarians who voted...
    The Daily Blog | 18-04
  • Know your Tory fellow travellers and ideologues: John Bishop, Taxpayers Uni...
    . . On 19 March, I reported on the Board members of the so-called “Taxpayers Union”. With one exception, every single member of the Taxpayers Union Board was a current (or recent) card-carrying member or supporter of the National and/or...
    The Daily Blog | 17-04
  • GUEST BLOG: Daniel Bruce – Internet Party: What Seems Ridiculous To The O...
    Imagine you’re a 18-21 year old, from a working class family. You’ve never had a landline phone at home, because your parents can’t afford the fixed monthly bills, so everyone in your familiy has a pre-pay mobile phone. Because of the same tight...
    The Daily Blog | 17-04
  • Greens to push for housing standards in MOU with Government
    Source: Green Party – Press Release/Statement: Headline: Greens to push for housing standards in MOU with Government Tuesday, 28 Aug 2012 | Press Release We don’t need any more official reports. We know the problem and we have the plans....
    The Daily Blog | 17-04
  • Mighty River squanders $3.8m preparing for sale
    Source: Green Party – Press Release/Statement: Headline: Mighty River squanders $3.8m preparing for sale Tuesday, 28 Aug 2012 | Press Release New Zealanders do not want asset sales and they do not want the Government wasting millions of dollars on...
    The Daily Blog | 17-04
  • Government’s economic agenda on shaky ground
    Source: Green Party – Press Release/Statement: Headline: Government’s economic agenda on shaky ground Monday, 27 Aug 2012 | Press Release Instead of betting on a boom and bust industry and selling off assets the government needs to invest in a...
    The Daily Blog | 17-04
  • National’s tax cuts haven’t cut tax avoidance
    Source: Green Party – Press Release/Statement: Headline: National’s tax cuts haven’t cut tax avoidance Sunday, 26 Aug 2012 | Press Release It is not fair that many rich New Zealanders are cheating on their tax. National’s 2010 tax cuts, that...
    The Daily Blog | 17-04
  • Waitangi Tribunal report adds to crisis in asset sales agenda
    Source: Green Party – Press Release/Statement: Headline: Waitangi Tribunal report adds to crisis in asset sales agenda Friday, 24 Aug 2012 | Press Release In its rush to sell our assets, National has found itself in a crisis of its...
    The Daily Blog | 17-04
  • Privacy across all departments needs checking
    Source: Green Party – Press Release/Statement: Headline: Privacy across all departments needs checking Friday, 24 Aug 2012 | Press Release “People don’t have a choice about giving their information to the state so the Government has an absolute duty to...
    The Daily Blog | 17-04
  • Reports show Government role in driving ACC dysfunction
    Source: Green Party – Press Release/Statement: Headline: Reports show Government role in driving ACC dysfunction Thursday, 23 Aug 2012 | Press Release Restoring public trust and confidence is an essential goal and will require very major change starting from the...
    The Daily Blog | 17-04
  • Government must front up on full costs of asset sales
    Source: Green Party – Press Release/Statement: Headline: Government must front up on full costs of asset sales Thursday, 23 Aug 2012 | Press Release It’s time for the Government to front up over just how much these asset sales are...
    The Daily Blog | 17-04
  • New report: middle NZ worse off, inequality grows
    Source: Green Party – Press Release/Statement: Headline: New report: middle NZ worse off, inequality grows Thursday, 23 Aug 2012 | Press Release Our society has never been as unequal as it is today. New research from the Ministry of Social...
    The Daily Blog | 17-04
  • Government to delay addressing climate change indefinitely
    Source: Green Party – Press Release/Statement: Headline: Government to delay addressing climate change indefinitely Thursday, 23 Aug 2012 | Press Release “It would be a shock for any other Government to introduce such a self-defeatist piece of legislation but unfortunately...
    The Daily Blog | 17-04
  • Time to deliver on 26 weeks Paid Parental Leave
    Source: Labour Party – Press Release/Statement: Headline: Time to deliver on 26 weeks Paid Parental Leave Today marks two years since Labour MP Sue Moroney’s Bill extending paid parental leave to 26 weeks was drawn from the members’ ballot. “It’s...
    The Daily Blog | 17-04
  • Taxpayers robbed of $130m in Genesis sale
    Source: Labour Party – Press Release/Statement: Headline: Taxpayers robbed of $130m in Genesis sale Kiwi taxpayers have been robbed of $130 million by the Government in its final failed asset sale, says Labour’s SOEs spokesperson Clayton Cosgrove. “National set the...
    The Daily Blog | 17-04
  • Service for victims of sexual violence pushed out in cold
    Source: Green Party – Press Release/Statement: Headline: Service for victims of sexual violence pushed out in cold Thursday, 17 Apr 2014 | Press Release Christchurch cannot afford to lose this agency The Green Party is calling on Housing New Zealand...
    The Daily Blog | 17-04
  • Resignation rates among cops soar
    Source: Labour Party – Press Release/Statement: Headline: Resignation rates among cops soar The number of frontline officers quitting the police force is at a four-year high, with more than 350 walking off the job in the past year, Labour’s Police...
    The Daily Blog | 17-04
  • Work visa problems need monitoring
    Source: Labour Party – Press Release/Statement: Headline: Work visa problems need monitoring The Government is handing out temporary work visas to migrants to work in jobs that could easily be filled by unemployed Kiwi workers in the Christchurch rebuild, says...
    The Daily Blog | 17-04
  • Legal high ban worthy of wider pick-up
    Source: Labour Party – Press Release/Statement: Headline: Legal high ban worthy of wider pick-up Auckland Council’s ban on using legal highs in a public place is an excellent idea that should be replicated around New Zealand, says Labour’s Associate Health...
    The Daily Blog | 17-04
  • Smith sells state P-houses to first home buyers
    Source: Labour Party – Press Release/Statement: Headline: Smith sells state P-houses to first home buyers Nick Smith must reassure worried first home buyers that any Housing NZ houses sold under his First Home policy will be tested for P contamination...
    The Daily Blog | 17-04
  • Brazil: Human rights under threat ahead of the World Cup
    Source: Amnesty International NZ – Press Release/Statement: Headline: Brazil: Human rights under threat ahead of the World Cup     Protests in Brazil:Brazil Franciscan friar kneels in front of Brazilian riot police officers asking for calm during confrontation with Landless...
    The Daily Blog | 16-04
  • Brazil: Human rights under threat ahead of the World Cup
    Source: Amnesty International NZ – Press Release/Statement: Headline: Brazil: Human rights under threat ahead of the World Cup     Protests in Brazil:Brazil Franciscan friar kneels in front of Brazilian riot police officers asking for calm during confrontation with Landless...
    The Daily Blog | 16-04
  • Libya: Trial of former al-Gaddafi officials by video link a farce
    Source: Amnesty International NZ – Press Release/Statement: Headline: Libya: Trial of former al-Gaddafi officials by video link a farce     Saif al-Islam al-Gaddafi will face the courts on 14 April. © IMED LAMLOUM/AFP/Getty Images         Read...
    The Daily Blog | 16-04
  • Libya: Trial of former al-Gaddafi officials by video link a farce
    Source: Amnesty International NZ – Press Release/Statement: Headline: Libya: Trial of former al-Gaddafi officials by video link a farce     Saif al-Islam al-Gaddafi will face the courts on 14 April. © IMED LAMLOUM/AFP/Getty Images         Read...
    The Daily Blog | 16-04
  • Algeria: Pre-election clampdown exposes ‘gaping holes’ in human rights ...
    Source: Amnesty International NZ – Press Release/Statement: Headline: Algeria: Pre-election clampdown exposes ‘gaping holes’ in human rights record     Freedom of expression, association and assembly are under threat ahead of elections in Algeria. © FAROUK BATICHE/AFP/Getty Images    ...
    The Daily Blog | 16-04
  • Algeria: Pre-election clampdown exposes ‘gaping holes’ in human rights ...
    Source: Amnesty International NZ – Press Release/Statement: Headline: Algeria: Pre-election clampdown exposes ‘gaping holes’ in human rights record     Freedom of expression, association and assembly are under threat ahead of elections in Algeria. © FAROUK BATICHE/AFP/Getty Images    ...
    The Daily Blog | 16-04
  • Viet Nam: Prisoners of conscience released but dozens remain jailed
    Source: Amnesty International NZ – Press Release/Statement: Headline: Viet Nam: Prisoners of conscience released but dozens remain jailed     Vietnamese activist Nguyen Tien Trung was one of the prisoners of conscience released this week. © Private      ...
    The Daily Blog | 16-04
  • Viet Nam: Prisoners of conscience released but dozens remain jailed
    Source: Amnesty International NZ – Press Release/Statement: Headline: Viet Nam: Prisoners of conscience released but dozens remain jailed     Vietnamese activist Nguyen Tien Trung was one of the prisoners of conscience released this week. © Private      ...
    The Daily Blog | 16-04
  • PM’s China visit assisted Oravida, not Fonterra
    Source: Labour Party – Press Release/Statement: Headline: PM’s China visit assisted Oravida, not Fonterra Questions must now be asked whether it was Fonterra or Oravida who really benefited from the Prime Minister’s recent visit to China, Labour’s Primary Industries spokesperson...
    The Daily Blog | 16-04
  • New Zealand’s use of ozone depleting gases increases
    Source: Green Party – Press Release/Statement: Headline: New Zealand’s use of ozone depleting gases increases A new Government report highlights that the amount of ozone depleting gases New Zealand is using is increasing, the Green Party said today. The report...
    The Daily Blog | 16-04
  • The issues behind the possible MANA-Internet Party Alliance
      Last weekend Kim Dotcom spoke at MANAs AGM to discuss the possibility of the Internet Party and MANA Party working together to defeat John Key this election. As someone who knows both Hone and Kim, I have a unique...
    The Daily Blog | 16-04
  • Manufacturing Upgrade
    Source: Labour Party – Press Release/Statement: Headline: Manufacturing Upgrade   Labour is determined to support and grow our manufacturing sector. These policies grew out of the findings of the 2013 Parliamentary Inquiry into Manufacturing.   – The claims and opinions...
    The Daily Blog | 16-04
  • Get work on 29th and the ANZAC spirit deserts the TPPA
      Groser and co would have been spitting tacks last week as the ANZAC spirit deserted the TPPA negotiations. Australia has done a deal directly with Japan which undercuts the demand for Japan to opening all agriculture in the TPPA....
    The Daily Blog | 16-04
  • No fracking solution to climate change
    Some British tabloids and oil lobbyists have jumped on comments made by an Intergovernmental Panel on Climate Change author that fracking could play a role in addressing climate change as an argument for it here in Aotearoa, so is fracking...
    The Daily Blog | 16-04
  • At Last: A Manufacturing Policy
    Source: First Union – Press Release/Statement: Headline: At Last: A Manufacturing Policy Date of Release:  Thursday, April 17, 2014 Body:  FIRST Union congratulates Labour on the release of its Manufacturing policy today. The union represents workers in the wood, food and...
    The Daily Blog | 16-04
  • Drone murder of New Zealander “justified” by Prime Minister
    Yesterday Prime Minister John Key justified the extrajudicial killing of a New Zealander in a US drone strike in Yemen with a few cynical, callous words at a stand-up press conference. Key said he’d been briefed by our spy agencies...
    The Daily Blog | 16-04
  • Secret Policeman’s Ball
      Amnesty International’s Secret Policeman’s Ball is back in New Zealand for one night of some of the best stand-up comedy from both national and international comics The freedom to provoke and in some cases offend is essential to the...
    The Daily Blog | 16-04
  • So the US has assassinated a NZ citizen – what did Key know?
    A non judicial assassination by the US on a NZ citizen raises questions. Key made the idea that NZers were training with terrorists part of his farcical defence for the GCSB mass surveillance legislation. I say farcical because even if...
    The Daily Blog | 16-04
  • Something Better Than Something Worse: Why John Key could become our longes...
    IN HIS MEMORABLE holiday-home encounter with the host of Campbell Live, the Prime Minister, John Key, did not rule out running for a fourth term. Were he to be successful, the long-standing record of Sir Keith Holyoake (11 years and 2...
    The Daily Blog | 16-04
  • GUEST BLOG: RIO TINTO WINS 2013 ROGER AWARD
      Sky City Casino Second, Chorus Third  The seven finalists for the 2013 Roger Award for the Worst Transnational Corporation Operating in Aotearoa/New Zealand were: ANZ, Chorus, IAG Insurance Group, Imperial Tobacco, Rio Tinto, Sky City Casino and Talent 2. The criteria for judging are...
    The Daily Blog | 16-04
  • National drowning in an ocean of poisoned milk
    It is becoming difficult to keep up with which National Party MP is bleeding the most at the moment. Simon Bridges is being crucified by Whaleoil almost as much as Greenpeace are attacking him, suggesting Cam is seizing the moment...
    The Daily Blog | 16-04
  • Want to get rid of synthetic cannabis? Legalize real cannabis
    Have we managed to appreciate the madness that synthetic cannabis is legal yet more harmful than organic cannabis which is illegal? I find the current moral panic over synthetic cannabis difficult to become concerned with when alcohol is FAR more...
    The Daily Blog | 16-04
  • Save our homes – stop the evictions!
    “We will keep on fighting because it frightens me to think my grandchildren could become homeless,” Tere Campbell told me. Tere is a member of Tamaki Housing Group. In September 2011, tenants in 156 state homes in Glen Innes received...
    The Daily Blog | 15-04
  • The daily humiliation of women and the constant policing and shaming of our...
    The last few months have been particularly bad for the shaming and policing of women’s bodies in the media, both in New Zealand and globally. First we had NZ Newstalk ZB presenter Rachel Smalley referring to women weighing over 70kgs...
    The Daily Blog | 15-04
  • A case study of racism by Police at Auckland Airport
    A couple of days ago I returned from Samoa after attending a family matter and some contract work. Spending a few days in the warmth of our homeland was welcome relief from the cold weather starting to make its presence...
    The Daily Blog | 15-04
  • An acute shortage of emergency youth housing
    The housing crisis is effecting everyone in Christchurch but some are more vulnerable than others. Recently I attended a workshop on emergency youth housing hosted by the 298 Youth Health Centre, who I worked for from 2001-2003. Over fifty people...
    The Daily Blog | 15-04
  • Manufacturing Matters to New Zealand – 17 April
    The Labour Party announcement today recognises the simple truth that the manufacturing sector really matters to New Zealand’s economy as a whole, based on the part manufacturing plays in the growth of the added value element in the tradable sector,...
    Scoop politics | 19-04
  • Young Kiwi to Represent New Zealand at Premier Youth Forum
    Young Kiwi to Represent New Zealand at Premier Youth Forum FOR IMMEDIATE RELEASE Commonwealth Youth New Zealand Executive Director, Aaron Hape, has been selected to represent New Zealand at 33Fifty, the Commonwealth Youth Leadership Programme,...
    Scoop politics | 19-04
  • Lisa Owen interviews Green Party co-leader Metiria Turei
    Greens propose new ministerial disclosure regime based on British rules, requiring quarterly declarations of ministers' meetings, travel and hospitality....
    Scoop politics | 19-04
  • Politicians Should Maintain Workers’ Easter Break
    Family First NZ is rejecting calls for any liberalisation of Easter trading laws and says that workers deserve a break to spend time with their families. “This is not an issue about choice as has been argued. For many workers,...
    Scoop politics | 19-04
  • Lisa Owen interviews experts on Antacrtica
    Lisa Owen interviews Chuck Kennicutt and Gary Wilson on Antarctica Headlines: Top Antarctic scientists warns New Zealand "not ready" for worst as ice shelves and sea ice in Antarctica retreat and the climate changes Gary Wilson: "Can...
    Scoop politics | 19-04
  • Beyond the State – NZ State Houses from Modest to Modern
    As part of the our 'Active Hand of Government' series for 2014, we present Bill McKay, Senior Lecturer, School of Architecture and Planning, speaking to his new publication....
    Scoop politics | 19-04
  • Global unions applaud NZ ‘slave ships’ progress
    Global unions the ITF (International Transport Workers' Federation) and IUF (International Union of Food, Agricultural and Hospitality Workers) today applauded the steps forward made in preventing often shocking abuse of crews on fishing vessels in New Zealand...
    Scoop politics | 17-04
  • Families before commerce at Easter
    Families before commerce at Easter The retail workers’ union has hit back at critics of New Zealand's modest Easter trading restrictions. "Some things are more important than going to the mall, and for just three and a half days each...
    Scoop politics | 17-04
  • Easter trading laws archaic, in need of overhaul
    Press release: ACT New Zealand Easter trading laws are outdated and in need of a major overhaul, said ACT leader Jamie Whyte today....
    Scoop politics | 17-04
  • ALCP welcomes Campbell Live poll result
    The Aotearoa Legalise Cannabis Party welcomes last night's Campbell Live poll, saying it is an overdue reality check for public opinion on personal cannabis use....
    Scoop politics | 17-04
  • Q+A This Week 20/4/14
    Q+A This Week SUNDAY 20 APRIL, 9AM ON TV ONE The latest on the US-NZ relationship from the US military’s top man in the Pacific, Admiral Samuel J. Locklear . Deputy Political Editor Michael Parkin asks him whether we’re allies,...
    Scoop politics | 17-04
  • Community detention for pokie theft
    A 67-year-old former company director, convicted of stealing pokie machine profits, was today sentenced to six months community detention, 160 hours of community work and ordered to make reparation of $6,000....
    Scoop politics | 17-04
  • Waitangi National Trust Board Amendment Bill
    The Māori Affairs Committee is inviting public submissions on this bill. The closing date for submissions is Wednesday, 14 May 2014....
    Scoop politics | 17-04
  • Collaboration stops drugs from crossing borders
    Collaboration between Hong Kong and New Zealand Customs has stopped millions of dollars worth of drugs coming into New Zealand this year, with a number of seizures and arrests in both countries....
    Scoop politics | 17-04
  • Call for public enquiry into the future of farming
    Fish & Game NZ is calling for a public enquiry “to examine the future of agriculture in New Zealand”....
    Scoop politics | 17-04
  • Comment on Labour Policy Announcement by NZMEA President
    “This policy release from the Labour Party is so important that if it becomes government policy it would define a shift in New Zealand’s culture,” says Brian Willoughby President of the NZMEA and Managing Director of Plinius Audio and Contex...
    Scoop politics | 17-04
  • Manufacturing policy makes sense but….
    On the surface much of Labour's prescription for manufacturing is sound though questions remain over some of the detail not yet announced, the Employers and Manufacturers Association says....
    Scoop politics | 17-04
  • Where Are The 15,000 Jobs?
    “Paula Bennett is today proudly telling New Zealand that beneficiary numbers have decreased by 15,000 in the past year. There is no proud declaration that 15,000 jobs have been created in the same period,” says Auckland Action Against Poverty spokesperson,...
    Scoop politics | 17-04
  • Change of approach to government procurement needed
    The rail engineering industry has been totally let down by National’s lack of manufacturing policy, and Labour’s measures outlined today represent a marked shift in approach to supporting domestic industries, the RMTU said today....
    Scoop politics | 17-04
  • Depreciation Policy Shouldn’t Be Just for Pet Industries
    The Taxpayers’ Union is welcoming Labour’s announcement to beef up rates of depreciation in the manufacturing sector, but is questioning why David Cunliffe is picking winners rather than applying the policy across all sectors. Jordan Williams,...
    Scoop politics | 17-04
  • FIFA U-20 World Cup NZ 2015 Kick Off Times Announced
    An array of kick-off times to suit football fans of all ages has been confirmed for the FIFA U-20 World Cup New Zealand 2015. With 52 matches spread across the nation, the public will be able to enjoy a collection...
    Scoop politics | 17-04
  • “Legitimate purpose” provides no protection under 167 form
    On Radio New Zealand today, the Privacy Commissioner indicated that ACC could only request information that was "relevant" for a "legitimate purpose". His view was therefore that the ACC167 form is not a "blank cheque" or...
    Scoop politics | 17-04
  • State: still keeping you safe on the road this Easter
    The long-awaited Easter/ Anzac break is nearly upon us while the weather may have taken a turn for the worse in several parts of the country, many Kiwis will still be packing up their cars to take a road trip....
    Scoop politics | 17-04
  • Govt plan for community input into residential red zone
    Christchurch Mayor Lianne Dalziel has welcomed Prime Minister John Key’s announcement today of a community participation process for the public to have a say on the future use of the residential red zone....
    Scoop politics | 17-04
  • Governor-General to visit Turkey
    The Governor-General, Lt Gen The Rt Hon Sir Jerry Mateparae, is to visit Turkey next week to lead New Zealand’s representation at the annual Gallipoli commemorations....
    Scoop politics | 17-04
  • Actions of Police prior to death in custody were justified
    A report by the Independent Police Conduct Authority on the death of Adam Palmer while in Police custody found the actions of Police were justified during the arrest. The report also found that Police took all possible steps to try...
    Scoop politics | 17-04
  • New Electorate Boundaries Finalised
    New boundaries for the country’s 64 General and seven Māori electorates have been finalised – with an additional electorate created in Auckland. The 2014 Representation Commission has completed its statutory role of reviewing and redrawing electorate...
    Scoop politics | 17-04
  • Save The Children Welcomes Strengthening Children’s Rights
    Save the Children New Zealand welcomes a new treaty which allows children to complain directly to the UN Committee on the Rights of the Child about alleged violations of their rights....
    Scoop politics | 16-04
  • Labour takes manufacturing seriously
    Labour takes manufacturing seriously Manufacturing workers and employers will all benefit from economic policies announced today by the Labour Party leader, David Cunliffe. The Engineering, Printing and Manufacturing Union has welcomed the announcement...
    Scoop politics | 16-04
  • Manufacturing policy welcomed
    “Today’s announcement of Labour’s manufacturing policy is very welcome,” says CTU Economist Bill Rosenberg. “Just as many other developed countries are realising, having a strong manufacturing sector pays off in good jobs, retaining...
    Scoop politics | 16-04
  • Operation Unite – a Blitz on Drunken Violence
    New Zealand Police are hoping to reduce the number of victims from alcohol related crime by asking the public to say ‘Yeah, Nah’ more often this holiday weekend....
    Scoop politics | 16-04
  • Dunne Speaks
    Dunne Speaks 17 April 2014 There have been a number of harrowing cases presented this week about the impact of psychoactive substances on vulnerable young people. At one level, the tales are deeply disturbing. It is awful to see anyone...
    Scoop politics | 16-04
  • Research announcement welcomed
    A leading Māori researcher has welcomed the announcement of the 2014 Te Pūnaha Hihiko - Vision Mātauranga Capability Fund by Science and Innovation Minister Steven Joyce and Māori Affairs Minister Dr Pita Sharples....
    Scoop politics | 16-04
  • At Last: A Manufacturing Policy
    At Last: A Manufacturing Policy FIRST Union congratulates Labour on the release of its Manufacturing policy today. The union represents workers in the wood, food and textile manufacturing sectors. “In a week that has seen another manufacturing company,...
    Scoop politics | 16-04
  • Republic campaigners still positive after royal visit
    "Campaigners for a New Zealand Head of State are still feeling positive after ten days of royal events" says NZ Republic Chair, Savage. "Our polling before the visit showed increased support for a kiwi head of state. We have a...
    Scoop politics | 16-04
  • Selling homes to foreigners benefits New Zealanders
    Winston Peters has apparently convinced David Cunliffe that when foreigners buy New Zealand property they make New Zealanders worse off. Mr Cunliffe has announced his intention to adopt Winston Peters’ policy of banning foreigners from buying...
    Scoop politics | 16-04
  • Taxpayers’ Union Welcomes Key’s Rejection of ‘Fat Tax’
    The Taxpayers’ Union is welcoming Prime Minister John Key’s rejection of fat and sugar taxes ahead of this year's election. Jordan Williams, Executive Director of the Union, says:...
    Scoop politics | 16-04
  • Law Commission Paper on a New Crown Civil Proceedings Act
    The Law Commission has released A New Crown Civil Proceedings Act for New Zealand , its Issues Paper on reforming the Crown Proceedings Act 1950. The Issues Paper proposes a new statute to replace the Crown Proceedings Act 1950....
    Scoop politics | 16-04
  • Focus must now go on fishing industry jobs for NZ workers
    Maritime Union says focus must now go on fishing industry jobs for New Zealand workers...
    Scoop politics | 16-04
  • Make the choice to stay safe on the road
    With Easter and Anzac Day giving us two successive long weekends this year there will be a lot of happy families preparing for trips....
    Scoop politics | 16-04
  • Students Welcome Engagement with StudyLink
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  • ACC’s Strategy to stop compensation using ACC 167 Form
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