There’s optimistic and there’s just wrong
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1:11 pm, April 23rd, 2009 - 14 comments
Categories: economy, john key -
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John Key has a habit of speaking much more bluntly to foreign media than he does to us. In his interview with the Financial Times published this week he stated unequivocally that there will be no stimulus package for New Zealand. He hadn’t told us.
It was this, though, that caught my attention: “he is betting that a falling Kiwi dollar will naturally allow the current account deficit to correct itself over the next one to two years”
Why does John Key think that the dollar will fall as the economy recovers?
Look at some recent news reports on the currency:
“Kiwi slides, NZX falls as world markets tumble”, “the NZ dollar was hit hard as risk appetites retreated and commodities fell sharply. The kiwi had been caught up in growing optimism that global financials”, “Kiwi strengthens as risk appetite recovers”, “NZ dollar falls as investors get jitters”, “NZ dollar slumps with equity markets”
The currency goes down when the news is bad, up when it’s good.
The currency moves not because of the balance between imports and exports, like your high school economics textbook said, but because of investors and speculators moving their money in and out of the country based on confidence and interest rate differentials. We’re in a world economic crisis. Investors are scared. So there has been a ‘flight to quality’, they’ve got out of peripheral economies like New Zealand and put their money in the the safest of safe ports – US government debt. To do that, they’ve had to sell New Zealand dollars and buy USD. Fear about the world economy drives our dollar down.
When things appear to be getting better, our dollar recovers. Investors are less fearful and our relatively high interest rates make us attractive for the ‘carry trade’. They have to buy more New Zealand dollars and that pumps up the exchange rate.
Key’s got it backwards. When (if?) the New Zealand and world economies recover the dollar will rise, not fall, and we’ll be back in the with same problem we had before the world economy went to hell – relatively high interest rates, bringing in speculators, driving our currency too high, making imports cheap and export returns poor, leaving us with a current account deficit that’s too big for comfort.
It’s concerning that Key doesn’t foresee that problem but, then, he does like to look on the bright side. That’s working out great so far, eh?
– the mathemagician
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- Referendums for Māori wards a racist step backwardsThe Government's imposed referendum on Māori wards is a racist step backwards for Māori representation, and disregards Te Tiriti o Waitangi. ...2 weeks ago
- Release: Job losses at Health not worth it for tax cutsNew Zealand will feel the harm of the National Government’s reckless cuts to jobs at the health ministry for generations, says Ayesha Verrall. ...2 weeks ago
- Press release: No Māori initiatives in Government’s nothing planMāori are yet to see anything from this Government except cuts, reversals and taking our people backwards, Māori Development spokesperson Willie Jackson said. ...2 weeks ago
- Thirty six point PR spinThe Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...2 weeks ago
- Thirty six point PR spinThe Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...2 weeks ago
- Thirty six point PR spinThe Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...2 weeks ago
- Release: Social housing off Government’s to-do listThe Coalition Government’s refusal to commit to ongoing funding for social housing is seeing the sector pull back on developments and families watch their dreams of securing a home fade away, says Labour Housing spokesperson Kieran McAnulty. ...2 weeks ago
- Release: Less money in most people’s pockets this AprilChanges to minimum wage and benefit indexation means many New Zealanders will get less this year, as the Government gives a big tax break to landlords instead. ...3 weeks ago
- $41m to support clean energy in South East Asia
New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...1 hour ago - Minister releases Fast-track stakeholder listThe Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...3 hours ago
- Judicial appointments announcedAttorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...4 hours ago
- Education Minister heads to major teaching summit in SingaporeEducation Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa. The summit is co-hosted ...5 hours ago
- Value of stopbank project proven during cycloneA stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...5 hours ago
- Anzac commemorations, Türkiye relationship focus of visitForeign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul. “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...5 hours ago
- Minister to Europe for OECD meeting, Anzac DayScience, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...8 hours ago
- Comprehensive Partnership the goal for NZ and the PhilippinesPrime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr. The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...19 hours ago
- Government commits $20m to Westport flood protectionThe Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...1 day ago
- Taupō takes pole positionThe Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...1 day ago
- Cost of living support for low-income homeownersLocal Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners. “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...1 day ago
- Government backing mussel spat projectThe Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...1 day ago
- Government focused on getting people into workBenefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...1 day ago
- Clean energy key driver to reducing emissionsThe Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...1 day ago
- Earthquake-prone buildings review brought forwardThe Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...2 days ago
- Thailand and NZ to agree to Strategic PartnershipPrime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...2 days ago
- Government consults on extending coastal permits for portsRMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...2 days ago
- Inflation coming down, but more work to doToday’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...2 days ago
- School attendance restored as a priority in health adviceRefreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...2 days ago
- Unnecessary bureaucracy cut in oceans sectorOceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...2 days ago
- Patterson promoting NZ’s wool sector at International CongressAssociate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector. "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...3 days ago
- Removing red tape to help early learners thriveThe Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...3 days ago
- RMA changes to cut coal mining consent red tapeChanges to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...3 days ago
- McClay reaffirms strong NZ-China trade relationshipTrade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...4 days ago
- Prime Minister Luxon acknowledges legacy of Singapore Prime Minister LeePrime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong. Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...4 days ago
- PMs Luxon and Lee deepen Singapore-NZ tiesPrime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong. During today’s meeting, Prime Minister Luxon ...4 days ago
- Antarctica New Zealand Board appointmentsForeign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner. The Minister has appointed Neville Harris as a new member of the Board. Mr ...4 days ago
- Finance Minister travels to Washington DCFinance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom. “I am looking forward to meeting with our Five Finance partners on how we can work ...4 days ago
- Pet bonds a win/win for renters and landlordsThe coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...4 days ago
- Long Tunnel for SH1 Wellington being consideredState Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...4 days ago
- New Zealand condemns Iranian strikesPrime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel. “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says. "We are deeply concerned that miscalculation on any side could ...5 days ago
- Huge interest in Government’s infrastructure plansHundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...1 week ago
- Health Minister thanks outgoing Health New Zealand ChairHealth Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board. “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti. “I have asked her to ...1 week ago
- Roads of National Significance planning underwayThe NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says. “Boosting economic growth and productivity is a key part of the Government’s plan to ...1 week ago
- Navigating an unstable global environmentNew Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says. “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States. “We cannot afford to sit back in splendid ...1 week ago
- NZ welcomes Australian Governor-GeneralPrime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...1 week ago
- Pseudoephedrine back on shelves for WinterAssociate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...1 week ago
- NZ and the US: an ever closer partnershipNew Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says. “The strategic environment that New Zealand and the United States face is considerably more ...1 week ago
- Joint US and NZ declarationApril 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...1 week ago
- NZ and US to undertake further practical Pacific cooperationForeign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research. “New Zealand can achieve more in the Pacific if we work together more urgently and ...1 week ago
- ‘It could be the death of the museum’: why research cuts at a South Australian institution have ...
Source: The Conversation (Au and NZ) – By Elizabeth Finkel, Vice-Chancellor’s Fellow, La Trobe University Sia Duff / South Australian Museum In February, the South Australian Museum “re-imagined” itself. In the face of rising costs and inadequate government funds, CEO David Gaimster, who took the reins last June, declared ...13 mins ago - Government signs off $41m clean energy deal with Asian Development Bank
The government has committed $41 million to clean energy transition at the Asian Development Bank's Energy Transition Mechanism. ...27 mins ago - Are 2 mid-career AFL retirements a sign Australian athletes are taking brain health more seriously?Source: The Conversation (Au and NZ) – By Alan Pearce, Professor, School of Allied Heath, Human Services & Sport, La Trobe University, La Trobe University This week, Collingwood AFL player Nathan Murphy announced his retirement, brought on by his concussion history and ongoing issues. The 24-year-old’s seemingly sudden retirement, ...2 hours ago
- Luxon: Waitangi Tribunal comments from coalition parties 'ill considered'Comments from ACT and NZ First ministers about the Tribunal were "ill considered" and "that message will be underscored" to them, the PM says. ...2 hours ago
- Mental Health Foundation Facing Staff Cuts From Govt Funding Squeeze
The Mental Health Foundation provides support and resources for those facing the loss of their job, so it’s wrong in the very week the Government adds another 1000 jobs to its tally of cuts, that this is happening. ...3 hours ago - I wholeheartedly recommend The President: a brilliant revival of a play of decay, terror and revulsi...Source: The Conversation (Au and NZ) – By Alexander Howard, Senior Lecturer, Discipline of English and Writing, University of Sydney Daniel Boud/Sydney Theatre Company Decay, terror, revulsion. These are three of the central themes of Thomas Bernhard’s rarely performed play The President. The Austrian is one of the greatest ...3 hours ago
- How the coolest little capital is shrinkingIt's not the first time a government has targeted public servants for job cuts, but this time Wellington is really feeling it. ...3 hours ago
- Many prisoners go years without touching a smartphone. It means they struggle to navigate life on th...Source: The Conversation (Au and NZ) – By Ye In (Jane) Hwang, Postdoctoral Research Associate at School of Population Health, UNSW Sydney Shutterstock You’d be hard pressed to find any aspect of daily life that doesn’t require some form of digital literacy. We need only to look back ten ...3 hours ago
- Ministers accused of Cabinet Manual breach with threats to Waitangi Tribunal
Prime Minister Christopher Luxon says threats by ministers Shane Jones and David Seymour to reform or close down the Waitangi Tribunal were “ill-considered”, as legal experts say the ministers may have breached Cabinet Manual conventions. “I think those comments are ill-considered and we expect all ministers to actually exercise good ...3 hours ago - Good news: midlife health is about more than a waist measurement. Here’s whySource: The Conversation (Au and NZ) – By Rob Newton, Professor of Exercise Medicine, Edith Cowan University Pexels/RDNE stock project You’re not in your 20s or 30s anymore and you know regular health checks are important. So you go to your GP. During the appointment they measure your waist. ...3 hours ago
- The Friday Poem: ‘Mitochondrial Problem’ by Evangeline Riddiford Graham
A new poem by Evangeline Riddiford Graham. Mitochondrial Problem I. It was long drive to Kansas for the man and his dog but you have to understand he said She doesn’t fly. Which calls to mind not carsick shitting barking or whining but a dog who chooses not to as ...4 hours ago - The Unity Books bestseller chart for the week ending April 18The 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 Hemingway’s Goblet by Dermot Ross (Mary Egan Publishing, $38) Hot off the press, this debut ...4 hours ago
- Department of Conservation closing Dunedin centre, but no jobs lostVisitor habits are changing and DOC needs to adapt in a financially sustainable way, its operations director says. ...4 hours ago
- Unions Collaborate With Thousands Of Job CutsWith New Zealand officially in recession, a swathe of mass sackings is currently sending shockwaves through the entire working class. ...4 hours ago
- Watch live: Christopher Luxon speaks to media in ManilaPrime Minister Christopher Luxon is speaking to reporters in Manila after pledging greater defence cooperation with the Philippines. Watch live. ...4 hours ago
- Government sent please explain letter to Wellington City Council over transport disagreementThe contents were revealed in correspondence from Simeon Brown and Chris Bishop to Wellington's Mayor. ...4 hours ago
- Some families push back against journalists who mine social media for photos – they have every rig...Source: The Conversation (Au and NZ) – By Laura Wajnryb McDonald, PhD candidate in Criminology, University of Sydney Less than 24 hours after Ashlee Good was murdered in Bondi Junction, her family released a statement requesting the media take down photographs they had reproduced of Ashlee and her family without ...4 hours ago
- Mental Health Foundation staff cuts loom, with funding falling behind rising costsChief executive Shaun Robinson said it has not had any government funding cut, but government-funded contracts have not kept pace with rising costs. ...4 hours ago
- The ‘devil comet’ 12P/Pons-Brooks has finally become visible from Australia. What can we expect?Source: The Conversation (Au and NZ) – By Jonti Horner, Professor (Astrophysics), University of Southern Queensland Pons–Brooks visible from Utah, March 9 2024. James Peirce/Flickr, CC BY-NC-ND If you’re a fan of all things space, you’ve doubtless heard about the “devil comet”, which has been captivating keen-eyed observers in the ...5 hours ago
- Rugby stadiums are sold as an economic asset – but NZ needs to ask if they’re really worth itSource: The Conversation (Au and NZ) – By Robert Hamlin, Senior Lecturer in Marketing , University of Otago A multi-billion dollar stadium precinct has been proposed for Auckland, one of three proposals in front of Auckland Council for a new stadium in the city. The council is also considering revamping ...5 hours ago
- Auckland dog attacks: Callouts for attacks on other animals going upRoaming dogs are responsible for more than a thousand attacks on animals each year, and the number is growing. ...6 hours ago
- What access to puberty blockers means for trans young people and their whānauThe Ministry of Health has delayed the release of its evidence brief on the safety, reversibility and mental health and wellbeing outcomes for puberty blockers. While we wait, Julia de Bres speaks to those with firsthand experience. Best practice gender-affirming healthcare is based on trans people’s self-determination and agency. The ...6 hours ago
- NZ and Philippines pledge defence cooperation amid rising tensionsThe commitment came after a sit-down meeting between Christopher Luxon and President Ferdinand "Bongbong" Romualdez Marcos Jr overnight. ...7 hours ago
- How superblocks can help reimagine city lifeBarcelona’s city streets have gone from traffic-clogged to pedestrian-friendly. How? Superblocks. Ellen Rykers explains. This is an excerpt from our weekly environmental newsletter Future Proof. Sign up here. Last week I read a great interview with renowned urbanist Janette Sadik-Khan by The Spinoff’s Wellington editor Joel MacManus: “You can reimagine streets, ...7 hours ago
- Fire engineering expertise may take a big hit with job cuts at MBIEThe public sector cuts are poised to take out a big chunk of expertise at the country's building regulator. ...8 hours ago
- “Fast-track Law To Kill Kiwi”: Students Say Fight Against Anti-democracy Legislation Is Only Jus...Student groups ‘Climate Action VUW’, Schools Strike 4 Climate and VUWSA will be on the street in Wellington today, the last day for submissions on the Fast-track Approvals Bill, with a message that the fight against the Government’s ‘War on ...8 hours ago
- ‘We have thousands of Modis’: the secret behind the BJP’s enduring success in IndiaSource: The Conversation (Au and NZ) – By Sofia Ammassari, Research Fellow, Griffith University Since 2014, Indian Prime Minister Narendra Modi’s popularity has grown exponentially – and so has the formidable organisational machine of his Bharatiya Janata Party (BJP). These two factors will be key to delivering the BJP a ...8 hours ago
- Online schooling is not just for lockdowns. Could it work for your child?Source: The Conversation (Au and NZ) – By Brendon Hyndman, Associate Professor of Education (Adjunct) & Senior Manager (BCE), Charles Sturt University During COVID almost all Australian students and their families experienced online learning. But while schools have long since gone back to in-person teaching, online learning has not gone ...8 hours ago
- Hear me out: You can shove your reusable period productsYes, they’re better for the environment. No, that’s not a good enough reason for me to use them. Once every 26 days or so, my period arrives, and if struck by an act of God, I am caught red-crotched without products. How, after 17 years of this, do I still ...9 hours ago
- Rip It Up And Start Over – Fast-Track Approvals Bill Needs To Be Scrapped“It will cause significant harm to our environment and communities. It is completely at odds with New Zealanders’ relationship with nature and our need for a low-carbon, sustainable economic future." ...9 hours ago
- Maori Authority Warns Government On Fast Track LegislationThe Chair of the National Maori Authority, Matthew Tukaki, has warned a Parliamentary Select Committee that fast-tracking legislation is a perilous practice that undermines the core tenets of democracy, transparency, and accountability. ...9 hours ago
- Why the government’s haste in changing the health system could come back to haunt itSource: The Conversation (Au and NZ) – By Tim Tenbensel, Associate Professor, Health Policy, University of Auckland, Waipapa Taumata Rau Getty Images Since coming into power, the coalition government has adopted a simple but shrewd see-how-fast-we-can-move political strategy. However, in the health sector this need for speed entails ...9 hours ago
- Many suicides are related to gambling. How can we tackle this problem?Source: The Conversation (Au and NZ) – By Anastasia Hronis, Clinical Psychologist, University of Technology Sydney Darya Sannikova/Pexels Whether you’re watching TV, attending a footy game, or eating a meal at your local pub, gambling is hard to escape. Although the rise of gambling is not unique to Australia, ...9 hours ago
- Things that go buzz in the night – our global study found there really are more insects out after ...Source: The Conversation (Au and NZ) – By Mark Wong, Forrest Fellow, School of Biological Sciences, The University of Western Australia Have you ever wondered if there are more insects out at night than during the day? We set out to answer this question by combing through the scientific ...9 hours ago
- Why don’t Australians talk about their salaries? Pay transparency and fairness go hand-in-handSource: The Conversation (Au and NZ) – By Carol T Kulik, Research Professor, University of South Australia IR Stone/Shutterstock In Australia, it’s not the done thing to know – let alone ask – what our colleagues are paid. Yet, it’s easy to see how pay transparency can make pay ...9 hours ago
- ‘Character’ And Its Impact On Immigration StatusThe Ministry of Business, Innovation and Employment (MBIE) is sounding a warning to migrants, that running foul of the law may see them leaving the country prematurely. ...9 hours ago
- 20,000 more on jobseeker benefits than this time last yearThe government’s plan to get 50,000 people off jobseeker support by 2030 has had a rocky start, writes Catherine McGregor in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. Beneficiary numbers are up – and so are ...10 hours ago
- All of the Raglan Roast cafes in Wellington, ranked from worst to bestRaglan Roast is a staple of Wellington coffee culture. But with five branches across the capital, which one is the best? I am a die-hard Raglan Roast fan. It’s consistently the most affordable cafe in Wellington, and one of the only places you can get a coffee after 3pm. So, ...13 hours ago
- Auckland uni students threaten rent strike over rising accommodation feesResidents of University of Auckland halls are being urged to withhold their accommodation fees from May 1, in a bid to force the university to take student concerns over rent hikes seriously. The University of Auckland is facing a strike from students over the cost of on-campus accommodation. The Students ...13 hours ago
- Daily crossword, Friday 19 AprilThe post Daily crossword, Friday 19 April appeared first on Newsroom. ...13 hours ago
- Brakes on transport and logistics sector as demand for freight slowsThe transport sector is currently in the slow lane The post Brakes on transport and logistics sector as demand for freight slows appeared first on Newsroom. ...13 hours ago
- Newsroom daily quiz, Friday 19 AprilLoading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[quiz],DIV[quiz],A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. The post Newsroom daily quiz, Friday 19 April appeared first on Newsroom. ...13 hours ago
- Financial literacy should be on all of usOpinion: With maths understanding at 42 percent for Year 8 students, there’s no doubt something has to be done. But how? The post Financial literacy should be on all of us appeared first on Newsroom. ...13 hours ago
- Missy rustles to stardom in CanadaHineaupounamu ‘Missy’ Nuku has been scaling mountains in Canada for her college basketball team, the Lakeland Rustlers. Alberta is currently home for the 20-year-old point guard, who is in her first year of a scholarship at Lakeland College, where she is studying for a business degree. She has certainly made ...13 hours ago
- Emissions fall again – now NZ needs to up the paceOfficial figures confirm New Zealand produced less climate pollution in 2022 than in any other year in the 21st century The post Emissions fall again – now NZ needs to up the pace appeared first on Newsroom. ...13 hours ago
- Warning of death from a million cuts as Oceans Secretariat dissolvedShane Jones says people voted for change, but opponents say small cuts such as ending a special oceans secretariat are starting to add up The post Warning of death from a million cuts as Oceans Secretariat dissolved appeared first on Newsroom. ...13 hours ago
- Defence deal to counter Beijing’s aggression in South China SeaNew Zealand and the Philippines have signed a new maritime security agreement and stated their concerns over activity in the South China Sea, as Chinese vessels continue to flout international law. Prime Minister Christopher Luxon and Philippines President Ferdinand “Bongbong” Marcos committed to signing a Mutual Logistics Supporting Arrangement by ...13 hours ago
- Wellington’s ebb and flow of public servantsThe thousands of government “back-office” job cuts are causing widespread pain in the capital city. In today’s episode of The Detail, we speak to three journalists and a think tank researcher, looking at the larger picture around the cuts and what effect it will have on Wellington, a city that’s ...13 hours ago
- New Zealand transport planning has gone off the railsOpinion: The famed American architect and urban designer Daniel Burnham once said, “Make no little plans. They have no magic to stir men’s blood!” Burnham wouldn’t have been referring to the transport plans in Aotearoa New Zealand over the past five years; projects so big they hadn’t the credibility to ...13 hours ago
- Grattan on Friday: Ethnic tensions will complicate the Albanese government’s multicultural policy ...Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra When ASIO boss Mike Burgess delivered his annual threat assessment earlier this year, he stressed the rising danger posed by espionage and foreign interference. “In 2024, threats to our way of life have surpassed ...18 hours ago
- Group plans work to improve safety of female MPsNew research shows harassment of elected officials - especially women - is on the rise. ...19 hours ago
- Ukraine warns of WW3 ahead of long-stalled Congress aid voteUkraine's Prime Minister says his country desperately needs the US to approve long-stalled security assistance. ...21 hours ago
- PSA astonished Education Minister expects hiring of contractors to review curriculumHiring contractors is an appalling solution when people who could do the work are losing their jobs, the PSA says. ...22 hours ago
- Crown lawyers attempt to block Waitangi Tribunal summons to Minister for ChildrenThe Tribunal had called on Minister for Children Karen Chhour to provide evidence at an urgent inquiry into the repeal of Section 7AA of the Oranga Tamariki Act. ...23 hours ago
- Luxon refuses to guarantee public consultation on AUKUS Pillar 2Prime Minister Christopher Luxon says it's "far too premature" to be confirming whether the public would be consulted on joining AUKUS Pillar 2. ...24 hours ago
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There is no point throwing money around. Look at the US. It’s not doing shit. Ride it out I say, instead of artificially moving things along.
As usual, Infused, you’re confused. Unless, of course, you know more than the IMF.
The economic depression is upon us and what’s you mate John Key doing about it? Giving tax cuts to the rich, sacking government workers, and telling the world he won’t be doing anything else.
What a leader!
What do you mean exactly by ‘ride it out’? What is artificial about government doing things? Does the economy know the difference?
Whoever the mathemagician is what are your qualifications when it comes to money trading? At least we know Key made 50 million off money trading.
That was salary and bonuses weren’t it? In the last couple of years lots of people have made enormous amounts of money, losing billions. It’s a type of genius I grant you…
Surprising, isn’t it, that someone could amass such a fortune without creating one new or useful thing. Bit like being a gangster, I suppose,
And then there’s this: Australian, NZ dollars buoyed by Toshin talk
tks for that, quoth— fragility written all over it.. eh
It merely demonstrates the proof that money speculators operate on rumour and hearsay – hence the current mess the world economy is in – hardly a credential for a person pretending to be a Prime Minister while his deputy wields the axe.
N.Z was sold a con job in the 1980s by Roger Nosferatu Douglas and his bride Ruth and then were persuaded to do it again in 2008.
‘Ride it out’ like Herbert Hoover did to the US in the early 1930s? Yeah that worked a charm.
If we agree with the IMF that this recession is or may be a depression, then aren’t debt levels less of a concern than ensuring our economy doesn’t lock up and become a perpetuating cycle of increasing unemployment, reduced tax take, reduced services, reduced spending, increased unemployment and so forth.
Herbert Hoover was obsessed with balancing the USA budget when the 1929 stock market crash happened, and that move is widely considered to have turned that event into the Great Depression of the 1930s. Whilst FDR’s policies (borrow and spend) certainly didn’t immediately drag the USA out of that situation, his “New Deal’, combined with WW2 eventually got the US economy going again. At the end of WW2 the USA had absolutely huge debt level compared with their GDP (the highest in their history when compared with their GDP), but that debt had got the economy going again, and was a huge factor in the decades of economic growth the USA (and NZ) experienced in the late 1940s, the 1950s and the 1960s.
Of course it’s not particularly good to increase debt levels in the long term. However, when you compare that option with the downward spiral of what an obsession with balancing a budget can do, I’d take the borrow option. The main issue then becomes ensuring that government spending is actually helping create jobs and keeps the economy going. I don’t really see much evidence of that in recent months, except for the possibility of the home-insulation deal with the Greens. But National has had to be dragged kicking and screaming into that deal anyway.
Regarding economic stimulus, Bill English said he had set aside $5 billion for it. We got 10% of that allocated a couple of months ago on things like the Kopu Bridge and a few new schools. Apart from the Vic Park tunnel, where’s the other 90%?
50 mill? I heard he made 30 during the election campaign.
and as far as I can make out – it is Other Peoples money.
woah.
A bit like what he’s pretending to do now.
A trans-national cycleway? suggested by Tourism Minister and Prime Minister.
Does’nt go ahead.
Sounds great though.
Result? John Key – the scoundrel – gives himself (and his ilk) an extra hundred odd dollars a week.
Again, Other Peoples money.
You wouldn’t read about it
captcha: foist lives
Seriously?
You make your proposition under the assumption that the worst of the recession has passed (dubious at best). If the recession worsens (as most expect) then the kiwi dollar will fall and therefore exports will increase and the current account defict will reduce. Making the statement :
“he is betting that a falling Kiwi dollar will naturally allow the current account deficit to correct itself over the next one to two years'”
absolutely correct.
I would really like to think the PM would do more than just ‘bet’ on our futures.
bollickybollocks?
captcha: react hard