The Salesman
Written By:
- Date published:
2:20 pm, July 20th, 2009 - 12 comments
Categories: economy, national/act government -
Tags: john key
One of the stories from John Key’s days as a currency trader is that he was always more of a salesman than an analyst. He wasn’t good at picking markets and investments; he was good at getting people to trust him with their money. He got New Zealanders to put their trust in him too but he’s still no good at understanding the economy.
December 6: Key: “the NZD will print with a four in front of it at some point against the U.S. dollar’ ie. the currency will drop below 50 cents US. To be fair, it did dip just below 50, for four days but Key got the trend of the exchange rate exactly backwards. Now it’s getting up to 65 cents US.
April 16: “[Key] is betting that a falling Kiwi dollar will naturally allow the current account deficit to correct itself over the next one to two years’ This statement shows a fundamental misunderstanding of currency markets. Commodity currencies like the Kiwi were always going to start rising as soon as recovery was on the horizon. When investors are nervous about the world economy, they get out of out of the NZD, causing the price to drop. When recovery is coming, the appetite for risk starts to return, and up goes the price of the NZD.
1 July: Key: “[the] budget delivered a credit upgrade, not a downgrade”. He doesn’t understand (or pretends not to understand) the difference between a change in credit outlook and a change in credit grade. Remember, Key told us the Cullen Fund had to be slashed, Kiwisaver had to be cut, R&D spending had to go to avoid the negative judgement of the ratings agencies. Now Fitch has put us on negative credit watch saying ‘government debt isn’t a problem, the problem is you’re not saving enough, you’re not investing enough in R&D so your exports aren’t competitive enough and you have to import all your high-tech, and you can’t just keep on borrowing to speculate on housing’. Key cut exactly the government investment we need to correct those problems. Now he’s trying to weasel out of his cock-up by announcing that Fitch doesn’t matter.. hmm, tell that to the markets.
July 17: This last one’s slightly facetious but I think it illustrates that this guy isn’t the economic heavyweight we were sold. “[Key] met three Havelock North High School pupils selling.. socks for $9.99 a pair for charity. [Key said] this could be the way to fix the deficit “7.7 billion pairs”. Umm, 7.7 billion times $9.99 is $77 billion. The deficit is $7.7 billion.
With over 2000 Kiwis a week losing their jobs, we’re still waiting for the Key government to do anything to ‘take the sharpest edges off the recession’ as promised. We’ll have to keep waiting. The fact is, Key doesn’t have any answers and he doesn’t really care.
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- Release: $1.7b for no increase in access to medicineThe National-led Government continues its fiscal jiggery pokery with its Pharmac announcement today, Labour Health spokesperson Ayesha Verrall says. “The government has increased Pharmac funding but conceded it will only make minimal increases in access to medicine”, said Ayesha Verrall “This is far from the bold promises made to fund ...2 weeks ago
- Release: National should heed Tribunal warning and scrap coalition commitment with ACTThis afternoon’s interim Waitangi Tribunal report must be taken seriously as it affects our most vulnerable children, Labour children’s spokesperson Willow-Jean Prime. ...2 weeks ago
- Release: More accountability for preventable workplace deaths this Workers’ Memorial DayLabour is calling for more accountability for preventable workplace deaths because everybody who goes to work deserves to come home safely. ...2 weeks ago
- Gaza: Aotearoa Must Support Independent Investigation into Mass GravesTe Pāti Māori are demanding the New Zealand Government support an international independent investigation into mass graves that have been uncovered at two hospitals on the Gaza strip, following weeks of assault by Israeli troops. Among the 392 bodies that have been recovered, are children and elderly civilians. Many of ...2 weeks ago
- Release: Working together on consistent support for veterans this Anzac DayOur two-tiered system for veterans’ support is out of step with our closest partners, and all parties in Parliament should work together to fix it, Labour veterans’ affairs spokesperson Greg O’Connor said. ...2 weeks ago
- Release: Penny drops – but what about Seymour and Peters?Stripping two Ministers of their portfolios just six months into the job shows Christopher Luxon’s management style is lacking, Labour Leader Chris Hipkins said. ...2 weeks ago
- Another ‘Stolen Generation’ enabled by court ruling on Waitangi Tribunal summonsTonight’s court decision to overturn the summons of the Children’s Minister has enabled the Crown to continue making decisions about Māori without evidence, says Te Pāti Māori spokesperson for Children, Mariameno Kapa-Kingi. “The judicial system has this evening told the nation that this government can do whatever they want when ...2 weeks ago
- Release: Budget blunder shows Nicola Willis could cut recovery fundingIt appears Nicola Willis is about to pull the rug out from under the feet of local communities still dealing with the aftermath of last year’s severe weather, and local councils relying on funding to build back from these disasters. ...3 weeks ago
- Further environmental mismanagement on the cardsThe Government’s resource management reforms will add to the heavy and ever-growing burden this Government is loading on to our environment. ...3 weeks ago
- Release: RMA changes will be a disaster for environmentThe Government is making short-sighted changes to the Resource Management Act (RMA) that will take away environmental protection in favour of short-term profits, Labour’s environment spokesperson Rachel Brooking said today. ...3 weeks ago
- Release: Labour supports urgent changes to emergency management systemLabour welcomes the release of the report into the North Island weather events and looks forward to working with the Government to ensure that New Zealand is as prepared as it can be for the next natural disaster. ...3 weeks ago
- Release: Labour calls for New Zealand to recognise PalestineThe Labour Party has called for the New Zealand Government to recognise Palestine, as a material step towards progressing the two-State solution needed to achieve a lasting peace in the region. ...3 weeks ago
- Release: Three strikes law political posturing of worst kindThe Government is bringing back a law that has little evidential backing just to look tough, Labour justice spokesperson Duncan Webb said. ...3 weeks ago
- Release: Government cuts unbelievably target child exploitation, violent extremism, ports and airpor...Some of our country’s most important work, stopping the sexual exploitation of children and violent extremism could go along with staff on the frontline at ports and airports. ...3 weeks ago
- Three strikes has failed before and will fail againResurrecting the archaic three-strikes legislation is an unwelcome return to a failed American-style approach to justice. ...3 weeks ago
- Release: Environmental protection vital, not ‘onerous’The Government’s Fast Track Approvals Bill will give projects such as new coal mines a ‘get out of jail free’ card to wreak havoc on the environment, Labour Leader Chris Hipkins said today. ...3 weeks ago
- New Zealand supports UN Palestine resolution
New Zealand voted in favour of a resolution broadening Palestine’s participation at the United Nations General Assembly overnight, Foreign Minister Winston Peters says. “The resolution enhances the rights of Palestine to participate in the work of the UN General Assembly while stopping short of admitting Palestine as a full ...29 mins ago - Speech to the 2024 Infrastructure SymposiumIntroduction Good morning. It’s a great privilege to be here at the 2024 Infrastructure Symposium. I was extremely happy when the Prime Minister asked me to be his Minister for Infrastructure. It is one of the great barriers holding the New Zealand economy back from achieving its potential. Building high ...15 hours ago
- $571 million for Defence pay and projectsDefence Minister Judith Collins today announced the upcoming Budget will include new funding of $571 million for Defence Force pay and projects. “Our servicemen and women do New Zealand proud throughout the world and this funding will help ensure we retain their services and expertise as we navigate an increasingly ...20 hours ago
- Climate change – mitigating the risks and costsNew Zealand’s ability to cope with climate change will be strengthened as part of the Government’s focus to build resilience as we rebuild the economy, Climate Change Minister Simon Watts says. “An enduring and long-term approach is needed to provide New Zealanders and the economy with certainty as the climate ...20 hours ago
- Getting new job seekers on the pathway to workJobseeker beneficiaries who have work obligations must now meet with MSD within two weeks of their benefit starting to determine their next step towards finding a job, Social Development and Employment Minister Louise Upston says. “A key part of the coalition Government’s plan to have 50,000 fewer people on Jobseeker ...2 days ago
- Accelerating Social InvestmentA new standalone Social Investment Agency will power-up the social investment approach, driving positive change for our most vulnerable New Zealanders, Social Investment Minister Nicola Willis says. “Despite the Government currently investing more than $70 billion every year into social services, we are not seeing the outcomes we want for ...2 days ago
- Getting Back on TrackCheck against delivery Good morning. It is a pleasure to be with you to outline the Coalition Government’s approach to our first Budget. Thank you Mark Skelly, President of the Hutt Valley Chamber of Commerce, together with your Board and team, for hosting me. I’d like to acknowledge His Worship ...2 days ago
- NZ – European Union ties more critical than everYour Excellency Ambassador Meredith, Members of the Diplomatic Corps and Ambassadors from European Union Member States, Ministerial colleagues, Members of Parliament, and other distinguished guests, Thank you everyone for joining us. Ladies and gentlemen - In diplomacy, we often speak of ‘close’ and ‘long-standing’ relations. ...2 days ago
- Therapeutic Products Act to be repealedThe Therapeutic Products Act (TPA) will be repealed this year so that a better regime can be put in place to provide New Zealanders safe and timely access to medicines, medical devices and health products, Associate Health Minister Casey Costello announced today. “The medicines and products we are talking about ...3 days ago
- Decisions on Wellington City Council’s District PlanThe Minister Responsible for RMA Reform, Chris Bishop, today released his decision on twenty recommendations referred to him by the Wellington City Council relating to its Intensification Planning Instrument, after the Council rejected those recommendations of the Independent Hearings Panel and made alternative recommendations. “Wellington notified its District Plan on ...3 days ago
- Rape Awareness Week: Government committed to action on sexual violenceRape Awareness Week (6-10 May) is an important opportunity to acknowledge the continued effort required by government and communities to ensure that all New Zealanders can live free from violence, say Ministers Karen Chhour and Louise Upston. “With 1 in 3 women and 1 in 8 men experiencing sexual violence ...3 days ago
- Smarter lunch programme feeds more, costs lessAssociate Education Minister David Seymour has today announced that the Government will be delivering a more efficient Healthy School Lunches Programme, saving taxpayers approximately $107 million a year compared to how Labour funded it, by embracing innovation and commercial expertise. “We are delivering on our commitment to treat taxpayers’ money ...3 days ago
- Report provides insights into marine recoveryNew research on the impacts of extreme weather on coastal marine habitats in Tairāwhiti and Hawke’s Bay will help fishery managers plan for and respond to any future events, Oceans and Fisheries Minister Shane Jones says. A report released today on research by Niwa on behalf of Fisheries New Zealand ...3 days ago
- NZ to send political delegation to the PacificDeputy Prime Minister and Foreign Minister Winston Peters will lead a broad political delegation on a five-stop Pacific tour next week to strengthen New Zealand’s engagement with the region. The delegation will visit Solomon Islands, Papua New Guinea, Vanuatu, New Caledonia, and Tuvalu. “New Zealand has deep and ...3 days ago
- Low gas production threatens energy securityThere has been a material decline in gas production according to figures released today by the Gas Industry Co. Figures released by the Gas Industry Company show that there was a 12.5 per cent reduction in gas production during 2023, and a 27.8 per cent reduction in gas production in the ...3 days ago
- Defence industry talent, commitment recognisedDefence Minister Judith Collins tonight announced the recipients of the Minister of Defence Awards of Excellence for Industry, saying they all contribute to New Zealanders’ security and wellbeing. “Congratulations to this year’s recipients, whose innovative products and services play a critical role in the delivery of New Zealand’s defence capabilities, ...3 days ago
- Speech to the Minister of Defence Awards of Excellence for IndustryWelcome to you all - it is a pleasure to be here this evening.I would like to start by thanking Greg Lowe, Chair of the New Zealand Defence Industry Advisory Council, for co-hosting this reception with me. This evening is about recognising businesses from across New Zealand and overseas who in ...3 days ago
- Speech to the Sixth Annual New Zealand Government Data SummitIt is a pleasure to be speaking to you as the Minister for Digitising Government. I would like to thank Akolade for the invitation to address this Summit, and to acknowledge the great effort you are making to grow New Zealand’s digital future. Today, we stand at the cusp of ...3 days ago
- Ceasefire agreement needed now: PetersNew Zealand is urging both Israel and Hamas to agree to an immediate ceasefire to avoid the further humanitarian catastrophe that military action in Rafah would unleash, Foreign Minister Winston Peters says. “The immense suffering in Gaza cannot be allowed to worsen further. Both sides have a responsibility to ...4 days ago
- Daily school attendance data now availableA new online data dashboard released today as part of the Government’s school attendance action plan makes more timely daily attendance data available to the public and parents, says Associate Education Minister David Seymour. The interactive dashboard will be updated once a week to show a national average of how ...4 days ago
- Ambassador to United States appointedForeign Minister Winston Peters has announced Rosemary Banks will be New Zealand’s next Ambassador to the United States of America. “Our relationship with the United States is crucial for New Zealand in strategic, security and economic terms,” Mr Peters says. “New Zealand and the United States have a ...4 days ago
- New permit proposed for recreational gold miningThe Government is considering creating a new tier of minerals permitting that will make it easier for hobby miners to prospect for gold. “New Zealand was built on gold, it’s in our DNA. Our gold deposits, particularly in regions such as Otago and the West Coast have always attracted fortune-hunters. ...4 days ago
- NZ and the UAE launch FTA negotiationsMinister for Trade Todd McClay today announced that New Zealand and the United Arab Emirates (UAE) will commence negotiations on a free trade agreement (FTA). Minister McClay met with his counterpart UAE Trade Minister Dr Thani bin Ahmed Al Zeyoudi in Dubai, where they announced the launch of negotiations on a ...4 days ago
- New Zealand Sign Language Week an opportunity for anyone to signNew Zealand Sign Language Week is an excellent opportunity for all Kiwis to give the language a go, Disabilities Issues Minister Louise Upston says. This week (May 6 to 12) is New Zealand Sign Language (NZSL) Week. The theme is “an Aotearoa where anyone can sign anywhere” and aims to ...4 days ago
- Next stop NASA for New Zealand studentsSix tertiary students have been selected to work on NASA projects in the US through a New Zealand Space Scholarship, Space Minister Judith Collins announced today. “This is a fantastic opportunity for these talented students. They will undertake internships at NASA’s Ames Research Center or its Jet Propulsion Laboratory (JPL), where ...5 days ago
- $1.9 billion investment to keep NZ safe from crimeNew Zealanders will be safer because of a $1.9 billion investment in more frontline Corrections officers, more support for offenders to turn away from crime, and more prison capacity, Corrections Minister Mark Mitchell says. “Our Government said we would crack down on crime. We promised to restore law and order, ...5 days ago
- OECD reinforces need to control spendingThe OECD’s latest report on New Zealand reinforces the importance of bringing Government spending under control, Finance Minister Nicola Willis says. The OECD conducts country surveys every two years to review its members’ economic policies. The 2024 New Zealand survey was presented in Wellington today by OECD Chief Economist Clare Lombardelli. ...5 days ago
- Agreement delivers Local Water Done Well for AucklandThe Government has delivered on its election promise to provide a financially sustainable model for Auckland under its Local Water Done Well plan. The plan, which has been unanimously endorsed by Auckland Council’s Governing Body, will see Aucklanders avoid the previously projected 25.8 per cent water rates increases while retaining ...6 days ago
- Gaza and the Pacific on the agenda with GermanyForeign Minister Winston Peters discussed the need for an immediate ceasefire in Gaza, and enhanced cooperation in the Pacific with German Foreign Minister Annalena Baerbock during her first official visit to New Zealand today. "New Zealand and Germany enjoy shared interests and values, including the rule of law, democracy, respect for the international system ...7 days ago
- Decision allows for housing growth in Western Bay of PlentyThe Minister Responsible for RMA Reform, Chris Bishop today released his decision on four recommendations referred to him by the Western Bay of Plenty District Council, opening the door to housing growth in the area. The Council’s Plan Change 92 allows more homes to be built in existing and new ...1 week ago
- Speech to New Zealand China CouncilThank you, John McKinnon and the New Zealand China Council for the invitation to speak to you today. Thank you too, all members of the China Council. Your effort has played an essential role in helping to build, shape, and grow a balanced and resilient relationship between our two ...1 week ago
- Modern insurance law will protect Kiwi householdsThe Government is modernising insurance law to better protect Kiwis and provide security in the event of a disaster, Commerce and Consumer Affairs Minister Andrew Bayly announced today. “These reforms are long overdue. New Zealand’s insurance law is complicated and dated, some of which is more than 100 years old. ...1 week ago
- Government recommits to equal payThe coalition Government is refreshing its approach to supporting pay equity claims as time-limited funding for the Pay Equity Taskforce comes to an end, Public Service Minister Nicola Willis says. “Three years ago, the then-government introduced changes to the Equal Pay Act to support pay equity bargaining. The changes were ...1 week ago
- Transforming how our children learn to readStructured literacy will change the way New Zealand children learn to read - improving achievement and setting students up for success, Education Minister Erica Stanford says. “Being able to read and write is a fundamental life skill that too many young people are missing out on. Recent data shows that ...1 week ago
- NZ not backing down in Canada dairy disputeTrade Minister Todd McClay says Canada’s refusal to comply in full with a CPTPP trade dispute ruling in our favour over dairy trade is cynical and New Zealand has no intention of backing down. Mr McClay said he has asked for urgent legal advice in respect of our ‘next move’ ...1 week ago
- Stronger oversight for our most vulnerable childrenThe rights of our children and young people will be enhanced by changes the coalition Government will make to strengthen oversight of the Oranga Tamariki system, including restoring a single Children’s Commissioner. “The Government is committed to delivering better public services that care for our most at-risk young people and ...1 week ago
- Streamlining Building Consent ChangesThe Government is making it easier for minor changes to be made to a building consent so building a home is easier and more affordable, Building and Construction Minister Chris Penk says. “The coalition Government is focused on making it easier and cheaper to build homes so we can ...1 week ago
- Minister acknowledges passing of Sir Robert Martin (KNZM)New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...1 week ago
- Speech to New Zealand Institute of International Affairs, Parliament – Annual Lecture: Challenges ...Good evening – Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us. ...1 week ago
- Accelerating airport security linesFrom today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...1 week ago
- Short story: Message me, by Lucy O’Connor
A banner notification alerts me to the fact that I’ve received an Instagram message from @felicity.loves. She always comments on my posts. I shouldn’t have opened the message, but clicked on the notification before rationalising this. OMG! Are you in Wellys? X I debate not replying, but Instagram will inform ...41 mins ago - Callum Donaldson has his head in the gameIn Melbourne’s hardscrabble western suburbs where AFL – Aussie rules football – is a state religion, Callum Donaldson has been quietly grafting away, four months into an odyssey that he hopes will take him to another promised land: the NRL. It was a solid 2023 for the softly spoken 20-year-old ...41 mins ago
- TVNZ Pacific correspondent Barbara Dreaver awarded ONZM for investigative journalism
Pacific Media Watch Television New Zealand Pacific correspondent Barbara Dreaver has been made an Officer of the New Zealand Order of Merit for services to investigative journalism and Pacific communities in a ceremony at Government House, reports 1News. She has been the Pacific correspondent for 1News since 2002, breaking many ...4 hours ago - Budget to pledge billions more in funds and fresh effort to tackle intractable housing crisisSource: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Tuesday’s budget will respond to the deepening public agitation over Australia’s housing shortages by pouring new money into crisis accommodation for women and children, social housing and infrastructure. A specially-convened national cabinet late Friday ticked ...5 hours ago
- Pacific journalists are world’s ‘eyes and ears’ on climate crisis, says EU envoyBy Kaneta Naimatu in Suva Journalists in the Pacific region play an important role as the “eyes and ears on the ground” when it comes to reporting the climate crisis, says the European Union’s Pacific Ambassador Barbara Plinkert. Speaking at The University of the South Pacific (USP) on World Press ...7 hours ago
- Why the Defence Force has been calling for a Budget boost
Failing accommodation, tarmac problems and a deteriorating naval base were all laid bare before a $571 million spend-up was unveiled today. ...8 hours ago - Back in Black: Aldora’s year gets even betterAldora Itunu is back in the Black Ferns squad after a three-year absence. The last of her 24 internationals was an underwhelming loss to France (7-29) in Castres to conclude the disastrous 2021 Northern Tour. The powerhouse prop won a Rugby World Cup in 2017 and thought she was done. ...8 hours ago
- ‘Who’s actually governing this city?’The fight to control major transport policy and projects in Auckland has burst into the open again, with councillors rejecting Mayor Wayne Brown’s latest attempt to steer things more under his influence. Councillors from the left and right broke ranks on the mayor’s bid to control Auckland Transport more directly ...8 hours ago
- The return of .. Raw PoliticsExhausted by the general election campaign, horrified by the twilight zone of coalition negotiations, distracted by the silly season and waiting for the honeymoon to begin, Raw Politics has been in hibernation since October. From today, we’re back. Our weekly political video show and podcast returns for ...8 hours ago
- New Caledonia marks Armistice Day with new NZ war memorialBy Patrick Decloitre, RNZ Pacific correspondent French Pacific desk Authorities in the small town of Boulouparis have commemorated Armistice Day on May 8 with a new memorial honouring New Zealand soldiers who were stationed in New Caledonia during World War II. The ceremony took place in the township on the ...8 hours ago
- High Court dismisses key challenge to indefinite immigration detention. What does it mean?Source: The Conversation (Au and NZ) – By Sara Dehm, Senior lecturer, international migration and refugee law, University of Technology Sydney The High Court unanimously ruled today that the Australian government can keep asylum seekers in immigration detention indefinitely in cases where they do not “voluntarily” cooperate with their own ...11 hours ago
- A brief history of found footage video art – and where Macklemore’s Hind’s Hall fits inSource: The Conversation (Au and NZ) – By Kim Munro, Lecturer, Creative Industries and Digital Media, University of South Australia Twenty-four hours after the release of Macklemore’s pro-Palestine protest song Hind’s Hall on social media on May 7, the video had already notched up over 24 million views. In ...11 hours ago
- Transmission Gully could need new bulider – Infrastructure Commission reviewFailing to anticipate the complexity of the consenting system is being cited as the the current builder's shortcomings, an Infrastructure Commission review says. ...12 hours ago
- Proposed repeal of Oranga Tamariki Act section 7AA breaches Treaty of Waitangi – TribunalThe government is planning to repeal Treaty obligations from the Oranga Tamariki Act. ...12 hours ago
- Committee Silences Majority Of Submitters On Fast-track Bill
350 Aotearoa is calling the Environment Select Committee’s decision to allow oral submissions from just 40% of individual, unique submitters who asked to speak to the committee ‘a disgraceful blight to democracy’. ...12 hours ago - Sky-high vanity: constructing the world’s tallest buildings creates high emissionsSource: The Conversation (Au and NZ) – By James Helal, Assistant Dean (Sustainability), The University of Melbourne Dubai skyline AleksandarPasaric/Pexels Since ancient times, people have built structures that reach for the skies – from the steep spires of medieval towers to the grand domes of ancient cathedrals and mosques. Today ...13 hours ago
- How can we measure the size of Australia’s illegal cannabis market – and the billions in taxes t...Source: The Conversation (Au and NZ) – By Jenny Williams, Professor of Economics, The University of Melbourne Canna Obscura/Shutterstock At the end of this month, a senate inquiry by the Legal and Constitutional Affairs Legislation Committee is due to hand down its report on a bill to legalise cannabis. ...13 hours ago
- Wearable devices can now harvest our brain data. Australia needs urgent privacy reformsSource: The Conversation (Au and NZ) – By Edward Musole, PhD Law Student, University of New England Girts Ragelis/Shutterstock Recent trends show Australians are increasingly buying wearables such as smartwatches and fitness trackers. These electronics track our body movements or vital signs to provide data throughout the day, with ...14 hours ago
- Labour Up, Greens Down But Centre-Right Remains AheadThis is the first time since February that voters have had a net positive view of the country direction. ...14 hours ago
- RNZAF Hercules, NZDF Personnel Arrive In Papua New Guinea To Help Distribute Relief SuppliesPapua New Guinea experienced a significant earthquake on 24 March in East Sepik and there has also been recent flooding there and in surrounding provinces. ...15 hours ago
- Sleep wrinkles are real. Here’s how they leave their markSource: The Conversation (Au and NZ) – By Yousuf Mohammed, Dermatology researcher, The University of Queensland Maridav/Shutterstock You wake up, stagger to the bathroom and gaze into the mirror. No, you’re not imagining it. You’ve developed face wrinkles overnight. They’re sleep wrinkles. Sleep wrinkles are temporary. But as your ...15 hours ago
- Week in Politics: Triumph and disaster, but no austerityAnalysis - A big announcement about Auckland's water woes was overshadowed by a chaotic press conference about prisons, Peter Wilson writes. ...15 hours ago
- Community Groups Furious That Government Silencing Hundreds In Fast-Track HearingsThe Environment Select Committee has just announced that 60 percent of individuals who asked to speak at the hearings will not be heard. This equates to almost 700 people who made individual submissions and more than 1000 more who made a form submission. ...16 hours ago
- Review: Swan Lake is a reminder of how much work it takes to look effortless
The Royal New Zealand Ballet is performing Swan Lake around the country. What kind of dream does the ballet sell? Before going to see the Royal New Zealand Ballet perform Swan Lake, I had about as much familiarity with the plot of this ballet as could be expected from having ...16 hours ago - The Friday Poem: ‘High Tide at Local Maxima’ by Eamonn TeeA new poem by Auckland poet Eamonn Tee. High Tide at Local Maxima It is only going to get worse. The streams will be narrow and fickle. The week will bend and buckle like a pot-bellied waist. You will make it to the weekend with one ...16 hours ago
- The plastic-heavy drinks industry is in for a shake-upThe New Zealand entrepreneur behind beauty business Ethique is gearing up to launch a new eco-venture. This is an excerpt from our weekly environmental newsletter Future Proof. Sign up here. Our thirst for a tasty bevvy is insatiable, but it comes with a hefty plastic price for the planet: 580 billion ...16 hours ago
- The Unity Books bestseller chart for the week ending May 10The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington. AUCKLAND 1 James by Percival Everett (Mantle, $38) A retelling of The Adventures of Huckleberry Finn from ...16 hours ago
- Puna calls for Pacific ‘journalistic vigilance’ in face of climate crisisBy Kamna Kumar in Suva Pacific Islands Forum Secretary-General Henry Puna stressed the importance of media freedom and its link to the climate and environmental crisis at the 2024 World Press Freedom Day event organised by the University of the South Pacific’s journalism programme. Under the theme “A Planet for ...16 hours ago
- Downsizing Of ERO Inconsistent With Govt Priority Of Lifting Student AchievementThe PSA is concerned that Government spending cuts have forced ERO to downsize at a time when student achievement is a significant challenge. ...16 hours ago
- Education Review Office set to cut 13 jobs, union saysThe Education Review Office is set to cut 13 jobs, the Public Service Association says. ...17 hours ago
- Judith Collins announces $571 million Defence spend-upAn extra half a billion dollars is going to Defence in this year's Budget for pay and equipment upgrades, the Defence Minister has announced. ...18 hours ago
- This new TVNZ anthology is Motherhood as you’ve never seen it beforeTara Ward previews a new local TV series offering alternative visions of motherhood. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. A woman is clambering up the side of her two-story house, clinging desperately to a drainpipe. Nearby, her child is perched on the ...18 hours ago
- LGNZ Supportive Of Cross-party Approach To Climate AdaptationLocal Government New Zealand (LGNZ) is supportive of the cross-party approach to climate adaptation announced by the Minister of Climate Change today. ...18 hours ago
- SBC And CLC Welcome Bipartisan Climate Adaptation InquiryThe Sustainable Business Council (SBC) and Climate Leaders Coalition (CLC) welcome today’s announcement from Government around a bipartisan inquiry into an enduring climate adaptation framework for New Zealand. ...18 hours ago
- Another Victory For Free Speech: DIA Abandons Proposals For Online CensorshipThe Free Speech Union welcomes the decision by the Department of Internal Affairs, and Minister Brooke Van Velden, to abandon proposals to further regulate online speech. ...18 hours ago
- Confused or playing for time? 3 possible reasons NZ is taking so long to make a call on AUKUSSource: The Conversation (Au and NZ) – By Robert G. Patman, Professor of International Relations, University of Otago Getty Images New Zealand governments have been actively exploring the option of joining pillar two of AUKUS for over a year now. But according to foreign minister Winston Peters, the government ...18 hours ago
- Archives NZ says it has enough space – for nowIts new building in Wellington will not be nearly big enough for all its records, and it has also run out of money to build its new storage facility in Levin. ...19 hours ago
- Consensus WelcomedBusinessNZ is congratulating the Minister of Climate Change for his work in achieving cross-party consensus for a way forward on climate adaptation. ...19 hours ago
- How many lives is that tax cut worth?Recent research reveals the repeal of smokefree measures is not only bad for our health, but also the economy. The Government has repealed various smokefree measures to ensure it keeps collecting $1.2 billion a year in tobacco taxes, in order to pay for tax cuts already being delivered to ...19 hours ago
- How the Phoenix went from wooden spoon favourites to title contendersThe club’s surprisingly good season is built on the desire to prove a random A-League YouTuber wrong… and a few other factors. “There’s no way that Wellington Phoenix play finals this year. I can’t see it happening at all.” Those are the words of Lachlan Raeside, an Australian football content ...19 hours ago
- Ministry cuts will harm Pacific health, wellbeing – unionThe PSA is warning cuts at the Ministry for Pacific Peoples will have severe consequences for the health and wellbeing of Pasifika families. ...20 hours ago
- Power shortages: What's being done to keep the lights on?Officials are looking at better ways of choosing who gets the power during shortages amid relentlessly growing demands. ...20 hours ago
- No more bad accents, stereotypes or cringe: why the rise of multilingual TV is good news for everyon...Source: The Conversation (Au and NZ) – By César Albarrán-Torres, Senior Lecturer, Department of Media and Communication, Swinburne University of Technology Apple TV+ As one of billions of bilingual individuals in the world, it disappoints me when a film or TV show with characters of a non-English-speaking background is ...20 hours ago
- It’s time to ditch Berhampore Golf CourseThe under-utilised course is a waste of space, and with a little political will, it could be turned into something better. For the duration of her stay in Wellington, my long-suffering cousin listened to me rant about golf courses. They’re bad for the environment: water intensive and pesticide heavy. They ...21 hours ago
- Women in rich countries are having fewer kids, or none at all. What’s going on?Source: The Conversation (Au and NZ) – By Leah Ruppanner, Professor of Sociology and Founding Director of The Future of Work Lab, Podcast at MissPerceived, The University of Melbourne Shutterstock A recent report from the US Centers for Disease Control and Prevention shows US fertility rates dropped 2% in ...21 hours ago
- We looked at over 166,000 psychiatric records. Over half showed people were admitted against their w...Source: The Conversation (Au and NZ) – By Amy Corderoy, Medical doctor and PhD candidate studying involuntary psychiatric treatment, School of Psychiatry, UNSW Sydney shop_py/Shutterstock Picture two people, both suffering from a serious mental illness requiring hospital admission. One was born in Australia, the other in Asia. Hopefully, ...21 hours ago
- Feral horses in Australia’s high country are damaging peatlands, decreasing carbon storesSource: The Conversation (Au and NZ) – By Sarah Treby, Postdoctoral Research Fellow, RMIT University P.j.Hickox, Shutterstock Peatlands store more carbon per square metre than any other ecosystem on Earth. These waterlogged, mossy bogs beat even dense rainforests for their ability to act as carbon reservoirs. Under the ...21 hours ago
- Andrew Tate’s extreme views about women are infiltrating Australian schools. We need a zero-tolera...Source: The Conversation (Au and NZ) – By Stephanie Wescott, Lecturer in Education, Monash University RDNE Stock Project/ Pexels , CC BY Earlier this week, two students were expelled from a Melbourne private school for their involvement in creating a spreadsheet that ranked girls using sexist and violent categories ...21 hours ago
- Yes, spending on health is growing, but new research shows we’re getting more for itSource: The Conversation (Au and NZ) – By John Goss, Adjunct Associate Professor, Health Research Institute, University of Canberra Government spending on health has been growing so rapidly that a decade ago the then health minister Peter Dutton called it “unmanageable” and “unsustainable”. Health spending grew in real terms by ...21 hours ago
- Govt must regulate to smooth EVs and data centres' demand on power grids – VectorNew Zealand's largest electricity distributor is warning the country to hurry up with controls around charging electric vehicles or face unnecessary bills running into the billions. ...22 hours ago
- Could you be about to lose your power?New Zealanders have been asked to conserve energy this morning to combat a possible electricity shortfall, writes Stewart Sowman-Lund in this extract from The Bulletin. To receive The Bulletin in full each weekday, sign up here. A call to conserve power New Zealand is facing a possible electricity shortfall, with people up ...22 hours ago
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I kinda think this post is scrapping the bottom of the barrel marty… surely of all the criticisms that could be launched at Mr Key you could do better than the above list.
nb. shortly after Key’s December 6 ‘prediction’ about the NZD, it dropped below 50c and stayed there (or abouts) for almost my entire over seas trip. trust me i remember, it blew my budget 🙁
I think you’re overstretching by quite a lot to have a ping at Key.
1. The direction of the currency is very difficult to pick, even for the experts. A case in point. I was looking to hedge against the Auzzie when the NZ was quite high against it a few weeks ago. The currency expert at the BNZ advised me not to take too much because the Kiwi was on its way up. So I took 100k instead of 200k. The very next day the Kiwi slipped back down again.
2. The value of the dollar will increase as the world economy strengthens. However, I doubt it is going to get to the heights of 80 cents against the US, as it did when the world economy was very bullish. Even though confidence is slowly returning to the world markets, it is unlikely to be anything like the level it was in the extreme bull market preceding the fall. Therefore, the NZ currency is likely to be relatively low for quite a while. So, to this extent, I think Key is right.
3. Granted. However, I think the terms “upgrade” “downgrade” etc tend to be thrown around a bit loosely. While techinically going onto negative watch or whatever may not be a downgrade, in the eyes of our potential financiers, it may well be a downgrade or upgrade. So, it depends on how you look at it.
4. Well, 77 billion would certainly fix the deficit, and some. So, it could be argued that Key got this very right.
So far as unemployment goes, our rate is far less than the US and many of our trading partners. There is a lot of stuff being done behind the scenes to make doing business easier. I have pointed several times to the change in GST threshold for the payments method as an example that has helped us. Given that increased unemployment is agreed by most to increase in the current conditions, and given that we are much better off than most, then the evidence suggests that the steps the government has taken is working.
So far as financial literacy is concerned, what do you all think of Phil Goffs idea of paying the unemployment benefit to people who lose their jobs, even if their partners are earning hundreds of thousands per year?
If you consider anything below 80 cents US to be ‘relatively low’ you’re always going to consider it low.
When Key said he expected the dollar fall low enough to redress the current account deficit – it was at 57 cents, which is historically a pretty average number. It dropped to 55 cents shortly after but has risen nearly constantly since. It hasn’t been below 60 cents since the start of May. It’s not going to go down like he said.
Currency markets are hard to predict with detail but that the dollar would start to rise (along with stockmarkets) at the mid point in the global recession was not.
Nah, jake. the NZD rose in the days after Key spoke from 54 to touching 60.. then it dropped away, touched 49.2 for a day and leapt back up into the 60s. http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=1248042361210&chddm=231677&q=CURRENCY:NZDUSD&ntsp=0
Key made that statement, what 7 months ago? For five of those months, the dollar has been higher than it was when he made his prediction that it was going to dramatically drop.
“He wasn’t good at picking markets and investments; he was good at getting people to trust him with their money.”
Mathematically the equation reads:
John Key > Mark Briers + Bernie Madoff.
Because John Key never got caught. Instead he became Prime Minister. Undoubtedly he is an evil genious, the likes of which this country has never seen.
.
Na. No genius. I think he’s just dumb and plausible. Gambler’s luck.
John Key is the bankers’ unwitting front man, especially groomed for years, packed and branded by Crosby/Textor and foisted onto a gullible poplace.
That “take the sharpest edges off the recession” line cracks me up every time Key repeats it.
It reminds me of old stoner flatmates smoking weed for breakfast to “take the edge off the day”.
You do realise that it costs money to make socks, right? There’s a big difference between revenue and profit. 😉
Do you have anymore pics of JK looking tired Marty? Although not quite as desperate as this it adds a little colour your pathetic campaign..
When John Key was the opposition finance spokesman his only bright idea was that New Zealand should follow Ireland . .. we don’t hear much of that these days
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5857074/Fiscal-ruin-of-the-Western-world-beckons.html
This post is not scraping the bottom of the barrel . . The reality is that beyond ‘minding the store’, it is not apparent that the PM has a thought in his head in terms of new policy . .. or an effective direction for NZ to be taking.
This makes his ‘predictions’ fair game. .. or the better question is, what is the Prime Minister even doing making currency predictions??
crack on fellas. The laughing is not at key, its that you are stupid enough to think there is any point in your continued smear. Key made a great deal of money in currency and stupid people do not make money in currency. Your suggestions imply desperation and are on a par with claiming Santa Claus really does exist to adults.
Sensible people forecasting currency may predict a target or a direction over a time period but never both. Key was right and you are bagging him for it.
What is interesting is that the previous low of .38 to the dollar (1997 I believe) implies there is now an 11c risk on US default/US inflation premium vis a vis the NZD built into the trough of the rate. The socialist Obama spending plans are forcing a rethink in US economic direction.