“Wall St braces for a brutal open after China rout”

Written By: - Date published: 10:12 pm, August 24th, 2015 - 121 comments
Categories: capitalism, Economy, Financial markets - Tags:

Every bubble must pop some time. And since GFC 1 the powers that be have been blowing up massive asset price bubbles all over the world. Now it looks like a reversion to mean in the global markets might be on the cards and be truly vertiginous. If the world central banks are out of QE bullets as the buyer of last resort (long gone are the idea of “free markets” in the financial system), things are going to get very messy in the crony capitalist world over the next 2-3 months.

Remember, true financial market crashes don’t happen in a couple of days or even a couple of weeks. The kinds of massive greed driven imbalances which have built up tend to unwind over much longer periods of time: many months, or longer. But day to day movements can be horrifically volatile.

Meanwhile ZeroHedge suggests that the real global economy is currently falling through the floor, as evidenced by massive declines in global container freight rates.

I like the article heading on MarketWatch: “How market carnage is only going to get worse: in 4 charts.

Depositor bail-ins, anyone?

marketwatch

121 comments on ““Wall St braces for a brutal open after China rout” ”

  1. thatguynz 1

    Spot on CV. Keep an eye on the signals for when is a smart time to remove and cash holdings from banks to avoid the OBR “haircut”.

    [Cheers 🙂 CV]

    • weka 1.1

      what does that mean?

      • thatguynz 1.1.1

        The “OBR” part? It’s the Open Bank Resolution which while ostensibly being a tool for minimising the likelihood of banking failure in the event of a fiscal crisis also enables the bank to tap into the funds on deposit (ie. our savings) – commonly referred to as an “account haircut”. In effect it means that the depositors bail out the bank with no recompense.

        • weka 1.1.1.1

          so to put that in lay person’s language, any bank can take money we have in accounts with them? Can they do that at will, or is it regulated when and under what conditions they can do that?

          Has that ever been done in NZ?

          Were you being serious? Are you going to share what the signals are?

          • thatguynz 1.1.1.1.1

            In laypersons terms they can’t strictly do it at will however you’d be putting a lot of faith in the regulator / Reserve Bank that there will be adequate controls and oversight. The conditions to do so are when the bank has been placed under Statutory Management.

            More (official) details can be found here – http://www.rbnz.govt.nz/regulation_and_supervision/banks/policy/4368385.html

            This article may do a better job of explaining it – http://www.stuff.co.nz/manawatu-standard/opinion/9988749/OBR-policy-a-scary-bank-secret

            It has never been enacted in NZ as we haven’t had any banks in financial strife since it was passed in 2013.

            Serious – yes, deadly.

            • weka 1.1.1.1.1.1

              thanks, that’s very helpful. Ok, so a new thing then, for the raiders presumably.

              “The conditions to do so are when the bank has been placed under Statutory Management.”

              Done on a bank by bank basis then, rather than a nationwide thing?

              And the signs?

              • thatguynz

                Yes a bank by bank basis – I don’t believe the OBR can be applied universally by the RB although I could be wrong about that.

                The signs should be pretty straightforward given the interlinked nature of multinational banking. First and foremost you don’t want to wait until the bank in NZ has closed its doors before you try to get money out – at that stage it is too late as there is every likelihood that deposits will have been frozen. Typical signs (IMHO) will be a number of limit down (or close to limit down) days in key international stock indicies, questions around lending liquidity – particularly in the US (ie. people asking aggressively for further QE or TARP). There are a multitude of other things you can look at however they are probably the simplest. Queues outside the bank would of course be a bit of a dead giveaway but it’s likely the horse has bolted by then 🙂

                They key thing for me is that it is easy to take the money out (within reason) and easy to put it back if the worst case scenario doesn’t come to fruition – a bit of a pain for sure but unless you have millions on deposit its not like you’re losing out on significant interest payments while you’re in cash rather than bank deposits.

  2. infused 2

    It’s already started and you’re late to the party. The reasons you’ve stated are wrong though.

    * China has scared the shit out of everyone.
    * N / S Korea is causing sell off.
    * Oil has plummeted.

    But mainly China.

    Zerohedge is a joke. Go get some tinfoil while you’re at it.

    • Colonial Viper 2.1

      ZeroHedge is what it is. It reports a lot of info that you won’t see in the MSM – like the collapse in global container shipping prices.

      As for the root causes of the current market meltdown – you need to look deeper than the obvious proximal causes.

      • infused 2.1.1

        No, it’s pretty simple really. Everyone tries to make it out like something very complex. It’s not.

        • Colonial Viper 2.1.1.1

          If it’s so simple then there’s no need to comment further, is there.

        • thatguynz 2.1.1.2

          Really? if it’s so simple by all means inform us of its simplicity.

          I’ve traded and watched the markets and the associated geo-politics and macro economics for well over 10 years and I’m all ears as to what you may view as simple. What I do know however is it’s not what you have posited above – that is the window dressing.

          • infused 2.1.1.2.1

            Because the ‘window dressing is what scares the markets, regardless of the underlying reasons.

            • thatguynz 2.1.1.2.1.1

              No, the window dressing is what scares the retail investors – not the wholesale investors which is where the vast majority of the volume (HFT notwithstanding) comes from.

      • AmaKiwi 2.1.2

        +1 Yes, “you need to look deeper than the obvious proximal causes.”

        Human beings are often irrational, especially when we make bets which we justify as being “investments.”

        We could just as soon take “infused’s” negatives and turn them into positives:

        1. Low oil prices are fantastic because oil is so essential for all our industries. It’s like everyone just got a pay raise.
        2. N/S Korea have played this game many times before, the deadline is past, and they are negotiating. All is well there.
        3. The China sell-off is a normal correction by Chinese standards and hasn’t even retraced the irrational rally of the past year.

        There you go. “Infused’s” news is all good and that’s why the markets are going up today.

    • Zero hedge is a joke? The guy who runs it is a serious Wall street insider and he’s been predicting this for a couple of years now. Just because the banksters have managed to kick down the road a bit longer doesn’t mean this is not very serious.

      Here are my 2 cents:
      On China, Fiat Money And Why John Key Is Lying When He Calls The Crash A Mere Correction!

  3. Clemgeopin 3

    PANIC GRIPS MARKETS.

    Stock market rout wipes another £40bn off FTSE 100 in China panic –

    LIVE!

    see Below

    http://www.theguardian.com/business/live/2015/aug/24/global-stocks-sell-off-deepens-as-panic-grips-markets-live#block-55daa386e4b030434a2b0980

    Wall Street expected to tumble, following losses in Europe and ASsia, as concern grows over China’s economy, and Beijing’s ability to handle the crisis

    Summary: European market slide after Asian rout
    FTSE 100 loses £40bn of value
    Chinese stock market tumbled 8.5%; biggest fall since 2007
    Analyst: Beijing isn’t in control
    Beijing poised to flood the market with cash, says WSJ
    Japan’s Nikkei slid 4.6%
    Australia has worst day in six years

  4. Bill 4

    I can’t see anyone arguing with this line of logic.

    Freight rates for container shipping from Asia to Europe fell by a fifth in the second week of August, when they should be picking up a bit. If container ships are not being hired, it’s a sure sign there is less importing and exporting going on.

    Or will they?

    edit: Oops. Just msm verification of info already linked to in the post. Sorry.

    • I think China has about 2 years supply of ‘stuff’, so no more overtime, which means not as much money, which means not as many babies = no need for milk powder.
      Buy a flat screen for the farmers sake, we need to consume our way out of this.

  5. Raf 5

    Can anyone explain what it will mean, in practical terms, for NZ?

    • Colonial Viper 5.1

      house prices, our interest and exchange rates, commodity prices and our banking stability, are all going to come under pressure

      • adam 5.1.1

        We got buffered by Australia in 2009, now the gloves are off.

        I’m predicting, houses going up in flames.

        • Colonial Viper 5.1.1.1

          Esp if thousands of Chinese Auckland house owners decide they have to liquidate portfolios ASAP, at any price.

          • Pat 5.1.1.1.1

            maybe , depends on whether the Chinese property investors in Auckland used borrowed money to invest in Chinese sharemarket….one of the main reasons for the property investment in western economies was to remove it from the risks associated with having that investment in China…assume you have seen the capital outflows from China of late?

            • Pat 5.1.1.1.1.1

              of greater concern are the reasons for the crash and relates to your shipping data…trade, what are the implications for world trade if China slows consumption even further?

          • Lanthanide 5.1.1.1.2

            No, the Chinese will be buying up Auckland houses, trying to get their money out of China while it still has value and before they’re wiped out.

            • Colonial Viper 5.1.1.1.2.1

              Money will go to the far more liquid and safe haven US dollar denominated Treasuries first.

              In a crash it takes too much time to buy a house, let alone $100M worth of houses.

              • Lanthanide

                Why do you need $100M worth of houses?

                You just need 1 house, and plane ticket to get to it.

                • vto

                  I think Lanthanide that you are missing the point of how people behave at times of financial panic.

                  They
                  do
                  not
                  buy
                  anything
                  anywhere

                  I have observed you the last few years pinging back at those (including moi) who have called this GFC2 for a while now…. lets see who ends up being correct….

                  The unsustainable world of debt was never resolved at GFC1, the powers of money-printers was always limited, the final correction was always going to come. This is likely it.

                  place a bet on it?

                  edit: for an assessment of chines house buyers in Auckland, check Auckland real estate agency anecdote and stats over the next week – that will be the sign

                  • Colonial Viper

                    Buying (and liquidating) houses is a slow process; if more foreign Chinese do flood the Auckland market it will only show up in the stats a month or four down the track.

                    • Pat

                      the buying has occured over a period of years, and the intention is not necessarily for short term liquidation…it is a hedging measure against all sorts of scenarios…granted some may need to liquidate rapidly but would suggest it is in no way a given….future purchases i believe can be safetly expected to significantly decrease which will impact values.

                    • vto

                      I must disagree. The process of actually buying and selling may be slow but the enquiry phones react instantly. It will show up today and over the next week.

                      And I will also posit that it wont be enquiry to buy, it will be enquiry to sell.

                • Colonial Viper

                  Why do you need $100M worth of houses?

                  I thought your comment was about wealthy Chinese wanting to quickly move large sums of cash out of China.

                  • Lanthanide

                    Fiar enough. I’m talking about the wealthy Chinese getting out of China to live somewhere else…

            • lprent 5.1.1.1.2.2

              It could go either way. Either renewed purchasing or realising assets to cover positions. But the changes in the exchange rate and the marked increases in supply of apartments will probably drive what happens.

            • Pat 5.1.1.1.2.3

              IF they still can access funds and the chinese gov dosnt move to restrict outflows.

          • travellerev 5.1.1.1.3

            Fun part is: China’s been printing funny money for the last couple of years. They are responsible for half of the global money supply created out of nothing by the privately owned banks and yes, the Chinese banks are owned by the ruling elite.

            The Chinese elite have been buying real world assets such as real estate, land, huge amounts of gold with that funny money also known as counterfeited money.

            Ask John Key, he knows all about how that works!

      • b waghorn 5.1.2

        What would trigger radid interest rate rises.?

    • AmaKiwi 5.2

      I go a bit farther: A sovereign debt crisis is close at hand.

      That means credit dries up worldwide, including here. Without credit (lending), business dries us. People stop buying anything except essentials. And yes, NZ property prices take a dive.

      • Colonial Viper 5.2.1

        Let’s see if they can maintain trust (and liquidity) between financial institutions this time around…

  6. Clemgeopin 6

    7 minutes ago

    FTSE 100 hits new lows, now down 3.5%

    The rout is deepening.

    The FTSE 100 just fell below the 6000 point-mark again, as traders react to predictions of a heavy selloff on Wall Street.

    The blue-chip index is now down over 220 points or 3.5% at 5964 points, its lowest level since January 2013.

    If it finishes there, then more than £50bn would have been wiped off the collective value of the 100 companies on the index (we’ll get the official verdict after 4.30pm BST, when the market closes).
    ————–
    Earlier, one fund manager called it a “disaster”, which could drive many firms under.

    The scale of the crash, though, is raising fears that Beijing is losing its grip on the crisis — which Bloomberg says has wiped $5 TRILLION from global markets this month.

    Asian markets were left reeling by the selloff in Shanghai, as they were dragged downwards in a wave of selling.
    ————-

    • Clemgeopin 6.1

      6 Minutes ago:

      This is turning into a major selloff — the FTSE 100 is now down a whopping 275 points, or almost 4.5%, at 5914 points.

      • Clemgeopin 6.1.1

        1 minutes ago:

        Dow Jones index tumbles as Wall Street opens

        The Dow Jones index has fallen 485 points at the open of trading in New York…. make that 502 points….

        ….it’s still falling, now down over 900 points, or more than 5%.

        Now it’s down 950 points!

        And the Nasdaq index had plunged by 8.3%…..
        ————-
        FTSE 100 plunges 5.5% amid global rout
        ————

        Bye, good night.

  7. Pat 8

    European stocks face biggest fall since 2009

    It gets worse and worse….

    More than €400bn has been wiped off the value of Europe’s three hundred largest companies today, according to Reuters data, as the selloff continues.

    The FTSeurofirst300 index has now plunged by 4.5%, as stock markets in London, Paris, Frankfurt and beyond suffer heavy selling.

    Euroean stocks at 1pm BST Photograph: Thomson Reuters
    FTSeurofirst300 is now on track for its biggest one-day decline since March 2009, Reuters says.

    The Stoxx 600 index, which includes smaller European firms, is taking even more of a pounding.

  8. Richard@Down South 9

    I wonder what will happen to the derivatives market

  9. Tricledrown 10

    Derivatives will stop trading as they will be worthless ie 2007/8 all over again.
    The big trading blocks will start the printing presses again our dollar will become over valued as we don’t print money so not a pretty sight.
    Key and English have borrowed up to the Max so won’t be allowed to borrow more.
    Commodities will fall further gold will recover!

    • AmaKiwi 10.1

      Tricledown

      I’ll agree with most of your forecast except the part about gold. I expect a temporary recovery in gold. Price bubbles happen when the speculative price of something (gold, AKL houses, whatever) becomes separated from its economic value.

      Gold’s run-up to $1920 USD/oz. was a speculative bubble. Businesses that use gold knew it was never worth that much because at that price they and their customers find substitute materials.

      The experts I read (i.e. industrial users) say the present price of $1,150 is still several times gold’s economic value as an industrial metal. The estimates I read of its economic value are between $300 and $500 an ounce. I suggest you do not buy gold now unless you are very quick to sell it as soon as it starts down again.

      I would not be interested in buying gold much above $350 per ounce. For the same reason I have no interest in owning any property except my own home until prices drop by at least 50% to 60%.

      • vto 10.1.1

        Interesting but incomplete view. You have ignored gold’s historic (long longly historic) position as currency when all else fails (like bits of paper printed by some defunct bank).

      • Lanthanide 10.1.2

        Gold has practically never traded at its pure economic value. To suggest that it should demonstrates you don’t understand gold’s position in trading.

      • Tricledrown 10.1.3

        A speculative bubble funded by the printing of money .
        Lowering the value of the US dollar.
        Inflating the price of gold in other currencies that weren’t devalued as much.
        A double whammy .
        The price declined when the federal reserve slowed its printing presses!

        • AmaKiwi 10.1.3.1

          @ vto
          @ Lathanide
          @thatguynz
          @Tricledrown

          Why was gold at $1920 only 4 years ago? Speculators using credit.

          Today, at $1140, it is still supported by speculators using credit.

          When credit dries up the speculators will ask themselves, “Do we sell the gold or lose the house?” I predict at that point gold will be at $300 to $500 per ounce.

          And Lathanide, don’t insult me when you have no idea who you are talking to.

  10. Colonial Viper 11

    Dow futures plunge 660 pts before open. Black August it is, then.

  11. Tricledrown 12

    Goldman Sachs bailed out again.
    Glencoe bankrupt.
    Headlines next month.

  12. Clemgeopin 13

    4 minutes ago:

    Trump tweets:

    Markets are crashing – all caused by poor planning and allowing China and Asia to dictate the agenda. This could get very messy! Vote Trump.— Donald J. Trump (@realDonaldTrump) August 24, 2015

  13. Clemgeopin 14

    5 min ago:

    Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, fears that US stocks will keep falling until policymakers get a grip on the situation.

    Luschini says (via Reuters):

    “Until we have some sign that China and the emerging markets aren’t being sucked into some vortex from which they can’t recover … it is unlikely this selloff will stem.”

  14. AmaKiwi 15

    Which derivatives?

    Stock/Share derivatives will be frozen by the respective governments.

    Like 2008, many derivatives will be revealed as smoke and mirrors. They were unregulated in 2008 and so they remain today.

    The difference is that in 2008 there were nations that bailed out their banks that had bad derivatives. Today those countries are so broke they can’t plausible print more money without investors saying, “No thank you. I’m not going to buy Greek government bonds.” Now add to the bad countries list Italy, Spain, Portugal, France, etc.

    This ain’t gonna be pretty.

  15. AmaKiwi 16

    The NZD lost 5.4% against the USD

    in the THREE MINUTES from 1:10 am and 1:12 am this morning, (Tues, Aug 25).

    Expect that kind of volatility during this crash.

    5.4% in three minutes.

  16. ScottGN 17

    A quick look at headlines at some of the major papers and this is leading everywhere except the NZ Herald online, they’re leading with a spat between motorists and windscreen washers. Further proof (if you needed it) that the Herald is now complete and total crap.

    • Raf 17.1

      But how can windscreen washers be more important than Easter Sunday legislation …?

    • Keith 17.2

      The good folk of New Zealand don’t want the downtrodden and the net result of the policies they voted for to rear their ugly little heads in public by trying to earn a buck window washing.

      They have discovered that they bite and they are scary.

  17. mary_a 18

    Many thanks to all the posters to this site, who have kept us up to scratch with what’s going on in the financial markets overnight. Your efforts are appreciated.

    Far more information given here, than through msm, which last time I read, the details had been posted halfway down the page!

    Great work guys. Yet another reason for alternative news sites. Again, thanks 🙂

  18. Ad 19

    Surely a much lower $NZ is good for our exports esp dairy?

    Increase in gold good for mining?

    Immigration and housing shortage will sustain Auckland property price?

    Australasian stocks not worth spooking about when earnings are pretty solid?

    I think the political question for the Opposition is to pressure Nation for an economic plan that transforms New Zealand, as NZHerald has been.

    This doesn’t feel like a GFC. Yet.

  19. les 20

    the U.S stock market is in a correction phase.The P.E’s of companies have been quite ludicrous.Its been just another sponge to soak up QE ,like western RE. and now a few have the jitters.

  20. Stuart Munro 21

    I don’t imagine Auckland property buyers will bail out quickly – more likely is that demand will increase as capital flees tender exchanges like the NZSE.

    If the crisis progresses businesses dependent on consumer liquidity will be hit first – the water trade – restaurants, bars, tourism, transport. Then large layoffs will create a large unwaged population from conventional employment.

    A good day to plant potatoes or buy a sack of rice – just to be on the safe side.

    • Keith 21.1

      Yep, with our dear government doing nothing about it, Auckland’s property market will be promoted as safer than gold!

  21. vertiginous? Great word!

  22. hoom 23

    The headline you won’t see: GLOBAL ECONOMY UNDERPINNED BY CONFIDENCE IN INTERVENTION BY BUREAUCRAT COMMITTEE.

    Thats what I heard from the Radionz interview with the Wallstreet stockmarket reporter
    http://www.radionz.co.nz/national/programmes/morningreport/audio/201767828/billions-of-dollars-wiped-off-world-markets

    No talk about the mighty unseen hand of The Market, no talk about Masters of the Universe, no worries about the mere possibility of Govt intervention, no complaints about introducing distortions into The Market or any of that bullshit, purely ‘what will be the intervention by the Chinese Govt & will it be enough’.

    Truly the world economy is hanging on the decisions of a committee of bureaucrats in the Big, Interventionist, nominally Communist Chinese Govt.

  23. Lanthanide 24

    A local contact who is in the business of importing stuff from China to NZ, said that 12 month ago it cost $2,000 to bring a container from China port to Lyttleton.

    Now, the price is $380, because the ships are empty and there’s unused capacity.

    • Colonial Viper 24.1

      Yep; it’s a sign of how much consumer demand has fallen in Australia and NZ.

      • Keith 24.1.1

        But are we not a Rockstar economy is was it all a lie?

        • Colonial Viper 24.1.1.1

          Clearly

          Also this is the kind of event which leaves the obsolete 1980’s 1990’s “high value export led growth” strategies of our political class high and dry.

  24. les 25

    there are a number of fairly recent NZ IPO’s reminiscent of the companies around pre the 87 crash,that were overpriced and will fall dramatically.The companies big on projections and ‘irrational over exuberance’…that do not make a profit,and are unlikely to in the near future but who usually insist they are sacrificing profit for ‘growth’!(spending $2 for a $,1 of revenue)

  25. Ovid 26

    It’s going to be rough for a while. With the decline in oil and natural gas, Russia is pretty much hosed. Going be his previous Form, Putin is more likely to lash out rather than worry about domestic issues. Australia’s minerals sector has been suffering for a while and we all know about milk here in NZ (I wonder if Chinese mums are breastfeeding more than buying infant formula).

    A lot of workers are going to be losing their jobs. A lot of families are going to suffer. The CEOs and the 1%ers have insulated themselves from this (oh, their net worth may drop, but their living standard won’t).

    I don’t know if this is going to be GFC II, though. I do think it heralds a recession but I’m not yet convinced it will match the collapse of 7 years ago.

    • Colonial Viper 26.1

      It’s going to be rough for a while. With the decline in oil and natural gas, Russia is pretty much hosed. Going be his previous Form, Putin is more likely to lash out rather than worry about domestic issues.

      FFS that’s the US MSM characterisation.

      Go find Putin’s 4 hour long 2015 annual press interview. No questions barred. Judge the man for yourself.

    • thatguynz 26.2

      “Going be his previous Form, Putin is more likely to lash out rather than worry about domestic issues.”

      What absolute tripe. Fuck me, do your OWN thinking man..

      • Ovid 26.2.1

        I see the invasion of Georgia in 2008, I see the annexation of the Crimea. I see the dioxin poisoning of Victor Yuschenko. I see the crackdowns on the press and I conclude Mr Putin is an authoritarian with an ambition to restore Russia’s influence to pre-1991 levels.

        • Colonial Viper 26.2.1.1

          The Georgians tried to fuck up South Ossetia and killed a bunch of Russian soldiers doing so. RUssian forces drove to the Georgian capital to make a point – and drove away again.

          Crimea was annexed because Russia was not about to lose its only warm sea naval base get turned into a NATO installation on its doorstep. That was an utterly defensive move by Russia. No lives lost.

          Yuschenko – many different forces within Russia could have been responsible for that. No doubt, it could have been the Russian secret services.

          Meanwhile – has Russia started any wars in the last decade which has killed or displaced a million civilians?

          • Tricledrown 26.2.1.1.1

            Russia is no different to any other super power.
            Russia is one of the largest arms exporters their weapons are used in every conflict.

            • Colonial Viper 26.2.1.1.1.1

              Correct: there are utterly unscrupulous and amoral operators in the Russian elite, government and military forces.

              But at this stage, the western MSM is blaming Putin for putting his country closer and closer to new NATO military bases, which is absurd.

          • lprent 26.2.1.1.2

            You really should learn to see more than Russian Television propaganda.

            https://en.wikipedia.org/wiki/Casualties_of_the_Ukrainian_crisis#Crimean_crisis

            During the Crimean crisis from 23 February through 19 March 2014, six people were killed. The dead included: three protesters (two pro-Russian and one pro-Ukrainian),[5][6][7][8] two soldiers[9] and one Crimean SDF trooper.[10] The two Ukrainian soldiers who were killed are regularly included in the military death toll from the War in Donbass.[11]

            Since then the Russians have been running their usual oppressive techniques complete with show trials in their corrupted legal system. For instance
            http://www.economist.com/news/europe/21661032-russia-no-longer-confining-its-abuse-law-its-own-citizens-kremlins-new-show

            THE latest episode in Russia’s long history of judicial travesties played out this week in a stuffy courtroom in Rostov-on-Don, a provincial city near the Ukrainian border. As two defendants sat in a cage behind their lawyers, a prosecutor in dark glasses described them as bloodthirsty Ukrainian radicals who ran a terrorist cell in Crimea in early 2014. They had allegedly plotted to blow up a statue of Lenin.

            The lead defendant is Oleg Sentsov (pictured), a Ukrainian film director, and the supposed terrorist plot is every bit as fictional as his screenplays. Mr Sentsov’s real offence was to oppose Russia’s annexation of his native Crimea, helping deliver food to Ukrainian soldiers trapped on their bases after the Russian invasion. After his arrest, Mr Sentsov says, he was tortured by Russia’s Federal Security Service (FSB). (The prosecution claims his injuries came from sadomasochistic sex.) Mr Sentsov faces a potential life sentence. Dmitry Dinze, his lawyer, estimates his chance of acquittal at “none”.

            You don’t have to look far to find such reports. But you don’t appear to be looking at all – why is that?

            • Colonial Viper 26.2.1.1.2.1

              oh sorry lprent, I see that kind of corrupt and politicised behaviour out of Russia as the Russian norm, not anything to write home about.

              Yes I accept there were a few deaths during the Crimean takeover, but it was not fatalities on the scale of a military invasion.

              Now, let’s compare the deaths which occurred in the Ukranian “colour revolution” funded by the USA.

          • Tricledrown 26.2.1.1.3

            CV You forget the complete annihilation of Checnia.
            Every empire is always flexing its muscles pushing its borders.

        • thatguynz 26.2.1.2

          Rewriting history much Ovid? Do you rely on the MSM for ALL of your news?

    • lprent 26.3

      I do think it heralds a recession but I’m not yet convinced it will match the collapse of 7 years ago.

      I don’t think it will be more than a minor recession. It looks like a pretty classic overshoot that hits hardest in recently opened up stock exchanges like those in China where investors haven’t learned to be careful about debt leverage in purchasing shares and other property. The NZ stock exchange in 1989 for instance is a fine example of the issue.

      There appears to be little that is fundamental in this one. It reflects a slowing in the rate of growth in the world economy that has been quite evident for the last 12 months or so. The Chinese markets kept rising despite the manufacturing, trade and base investments there diminishing. They are readjusting hard and everywhere else is getting the sniffles.

      I think that the biggest effects will be in commodity markets supplying industrial raw materials to China – like Australia and many Asian countries from Mongolia to Thailand. But they have largely had the bulk of the effect already in diminished orders.

      • Poission 26.3.1

        The shanghai bourse has retreated to levels seen in march this year.

        • Colonial Viper 26.3.2.1

          China’s export led economy has been crushed by a lack of western consumer demand growth over the last 2-3 years. People simply cannot afford to buy the volumes of consumer gadgets and crap that they used to, any more.

          Fewer and fewer consumers are credit worthy.

          That’s as real economy as it gets.

          • Pat 26.3.2.1.1

            that and the substantial slowdown in infrastructure investment…China has accounted for 50% of global growth in recent years (and much of the rest on its coat-tails) and that growth is scaling back by a massive amount…..and all the while the rest of the world who have been suppling the wherewithal for this (commodities, industrial machinery/systems) have been struggling for growth to save themselves since the GFC are now faced with even further reduced demand….it dosnt auger well, even with the direct financial implications set aside.

          • lprent 26.3.2.1.2

            Exactly.

            But that is exactly the pattern you normally see country by country when they do overshoots. Production creeps up above consumption.

            In the last few decades we have been seeing this more and more happening globally. Producing regions push capacity above consumer demand in other regions. It overshoots in the markets as well. Then there is an abrupt reversal.

            Why does consumer demand stagnate or even drop? Not just the credit.

            Why in the hell do I need to replace my 2009 HDTV with one that won’t fit in my apartment? I’ll get a much cheaper bluray player as an upgrade. My 1997 Caldina still runs perfectly. But my mortgage debt needs killing otherwise it will be a pain when I retire.

            These are the attitudes of older people, and if there is one thing we are sure of in the western consumers – they are getting older.

            The manufacturing in China and other asian powerhouses has been built on providing cheaper better gear. But at some stage older consumers simply say “good enough”

        • lprent 26.3.2.2

          Don’t be a lazy fool. Read your own link.

          Bad as the 1997 asian flu crisis? “not likely”

          “There is nonetheless good reason for concern, if not for panic. ” .. “The [chinese] government’s ability to manage market gyrations and animal spirits is very much in question, suggesting that a descent into Japanese-style stagnation is a possibility.”

          “The global market rout may also represent a definitive end to the period of rip-roaring emerging-market growth that began around 2000.” … “That hangover may not take the form of a broad financial crisis. A protracted slowdown, however, would be plenty painful enough, especially if weak growth leads to political instability.”

          What they are saying is that is is quite likely to portend a slowdown in growth throughout the world. Something that has been visible for the last 18 months. I suspect that they are right.

          But something like the GFC? Hardly.

          • Pat 26.3.2.2.1

            lmao…whose the lazy fool…where have i stated it is like the GFC…it is however a continuation of the GFC…why did China embark on a loose credit and infrastructure overbuild?
            The pattern may be typical but the circumstances are most definately not…other than China with a reported 7% growth rate the other major economies have struggled to stabilise and grow even with zero interest rates(in some instances negative) and QE…and now the effective last area of growth is scaling back what hope those remaining economies will gain any traction …I reiterate in excess of 50% of global growth post GFC.
            You can cast aspersions on my reading ability if you wish and I shall question the colour of your eyeware

  26. Keith 27

    Wait for it!!!!!!!

    Key will be thanking his money Gods for this. Just when the NZ economy is deflating through Nationals sheer incompetence, along comes something else to blame. Fucking perfect.

    But we are so lucky to have the steady hands of Bill, “Sell it” English and “Honest” John Key to see us/them right!

  27. johnm 28

    The truth is the Planet cannot provide more growth: we have permanently maxed out our credit card with nature, that card is now useless.

    Therefore the markets and governments are living in a fantasy land, the rich are feather bedding their lives by increasing inequality: that is take from the poor.

    ” Meanwhile, we in the west seem to have maxed out government and consumer credit, and that realisation is sending financial markets into fibrillation. With energy resources and credit both stretched tight, that means more economic growth may simply not be possible in the US and Europe, regardless of our opinions about it.
    Advertisement

    If policymakers fail to recognise this and continue assuming that the current debt crisis is just another turning of the business cycle, then we may lose whatever opportunity still remains to avert a crash that could bring civilisation to its knees. Over the short run, this is scary business. Financial markets have a hair trigger, and fears about flagging growth could bring down governments and banks.

    Still, over the longer term there will undoubtedly be life after growth, and it doesn’t have to play out under miserable conditions. With less energy to fuel globalisation and mechanisation there should be increasing requirement for local production and manual labour. We could meet everyone’s basic needs by prioritising jobs in manufacturing and agriculture while downsizing the financial industry and the military. We will also have to reduce economic inequality and corruption (as the rapidly spreading Occupy movement rightly insists). ”

    http://www.theguardian.com/commentisfree/2011/nov/30/end-of-growth

  28. Smilin 29

    Now that the money game we have all been concerned about is starting to unravel maybe Keys ego armour will finally admit that the weight of the masses is greater than his power of 1 in his Dirty Politics
    which I believe he,the National party,and all associated with the planning of the coup of the last election will pay this country what they owe
    Isnt strange you could save all your life and have it robbed out of your bank by a financial crash and then see false values of property become the new standard all because of an uncontrolled marketing system which is perpetrated on us with the belief of its infallibility by people who have never created anything but money with no real value in perpetuity

Recent Comments

Recent Posts

  • At a glance – Does CO2 always correlate with temperature?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    2 hours ago
  • Bernard’s six-stack of substacks at 6.06 pm on Tuesday, March 19
    TL;DR: In today’s ‘six-stack’ of substacks at 6.06pm on Tuesday, March 19:Kāinga Ora’s dry rot The Spinoff DailyBill McKibben on ‘Climate Superfunds’ making Big Oil pay for climate damage The Crucial YearsPreston Mui on returning to 1980s-style productivity growth NoahpinionAndy Boenau on NIMBYs needing unusual bedfellows Urbanism SpeakeasyNed Resnikoff's case ...
    The KakaBy Bernard Hickey
    4 hours ago
  • Relentlessly negative
    Negative yesterday, negative today. Negative all year, according to one departing reader telling me I’ve grown strident and predictable. Fair enough. If it’s any help, every time I go to write about a certain topic that begins with C and ends with arrrrs, I do brace myself and ask: Again? Are ...
    More Than A FeildingBy David Slack
    5 hours ago
  • Scoring 4.6 out of 10, the new Government is struggling in the polls
    Bryce Edwards writes –  It’s been a tumultuous time in politics in recent months, as the new National-led Government has driven through its “First 100 Day programme”. During this period there’s been a handful of opinion polls, which overall just show a minimal amount of flux in public support ...
    Point of OrderBy poonzteam5443
    5 hours ago
  • Promiscuous Empathy: Chris Trotter Replies To His Critics.
    Inspirational: The Family of Man is a glorious hymn to human equality, but, more than that, it is a clarion call to human freedom. Because equality, unleavened by liberty, is a broken piano, an unstrung harp; upon which the songs of fraternity will never be played. “Somebody must have been telling lies about ...
    5 hours ago
  • Don’t run your business like a criminal enterprise
    The Detail this morning highlights the police's asset forfeiture case against convicted business criminal Ron Salter, who stands to have his business confiscated for systemic violations of health and safety law. Business are crying foul - but not for the reason you'd think. Instead of opposing the post-conviction punishment and ...
    No Right TurnBy Idiot/Savant
    5 hours ago
  • Misremembering Justinian’s Taxes.
    Tax Lawyer Barbara Edmonds vs Emperor Justinian I - Nolo Contendere: False historical explanations of pivotal events are very far from being inconsequential.WHEN BARBARA EDMONDS made reference to the Roman Empire, my ears pricked up. It is, lamentably, very rare to hear a politician admit to any kind of familiarity ...
    6 hours ago
  • Bryce Edwards: Scoring 4.6 out of 10, the new Government is struggling in the polls
    It’s been a tumultuous time in politics in recent months, as the new National-led Government has driven through its “First 100 Day programme”. During this period there’s been a handful of opinion polls, which overall just show a minimal amount of flux in public support for the various parties in ...
    Democracy ProjectBy bryce.edwards
    7 hours ago
  • Bishop scores headlines with crackdown on unwelcome tenants – but Peters scores, too, as tub-thump...
    Buzz from the Beehive Housing Minister Chris Bishop delivered news – packed with the ingredients to enflame political passions – worthy of supplanting Winston Peters in headline writers’ priorities. He popped up at the post-Cabinet press conference to promise a crackdown on unruly and antisocial state housing tenants. His ...
    Point of OrderBy Bob Edlin
    8 hours ago
  • Will it make the boat go faster?
    Ele Ludemann writes – The Reserve Bank is advertising for a Diversity, Equity and Inclusion advisor. The Bank has one mandate – to keep inflation between one and three percent. It has failed in that and is only slowly getting inflation back down to the upper limit. Will it ...
    Point of OrderBy poonzteam5443
    11 hours ago
  • Bryce Edwards: Is Simon Bridges’ NZTA appointment a conflict of interest?
    Last week former National Party leader Simon Bridges was appointed by the Government as the new chair of the New Zealand Transport Agency Waka Kotahi (NZTA). You can read about the appointment in Thomas Coughlan’s article, Simon Bridges to become chair of NZ Transport Agency Waka Kotahi The fact that a ...
    Democracy ProjectBy bryce.edwards
    11 hours ago
  • Is Simon Bridges’ NZTA appointment a conflict of interest?
    Bryce Edwards writes – Last week former National Party leader Simon Bridges was appointed by the Government as the new chair of the New Zealand Transport Agency Waka Kotahi (NZTA). You can read about the appointment in Thomas Coughlan’s article, Simon Bridges to become chair of NZ Transport Agency ...
    Point of OrderBy poonzteam5443
    11 hours ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' at 10:10am on Tuesday, March 19
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Gavin Jacobson talks to Thomas Piketty 10 years on from Capital in the 21st Century The SalvoLocal scoop: Green MP’s business being investigated over migrant exploitation claims Stuff Steve KilgallonLocal deep-dive: The commercial contractors making money from School ...
    The KakaBy Bernard Hickey
    11 hours ago
  • Bernard's six newsy things on Tuesday, March 19
    It’s a home - but Kāinga Ora tenants accused of “abusing the privilege” may lose it. Photo: Lynn Grieveson / The KākāTL;DR: The Government announced a crackdown on Kāinga Ora tenants who were unruly and/or behind on their rent, with Housing Minister Chris Bishop saying a place in a state ...
    The KakaBy Bernard Hickey
    13 hours ago
  • New Life for Light Rail
    This is a guest post by Connor Sharp of Surface Light Rail  Light rail in Auckland: A way forward sooner than you think With the coup de grâce of Auckland Light Rail (ALR) earlier this year, and the shift of the government’s priorities to roads, roads, and more roads, it ...
    Greater AucklandBy Guest Post
    13 hours ago
  • Why Are Bosses Nearly All Buffoons?
    Note: As a paid-up Webworm member, I’ve recorded this Webworm as a mini-podcast for you as well. Some of you said you liked this option - so I aim to provide it when I get a chance to record! Read more ...
    David FarrierBy David Farrier
    16 hours ago
  • Bernard’s six-stack of substacks at 6.06 pm on March 18
    TL;DR: In my ‘six-stack’ of substacks at 6.06pm on Monday, March 18:IKEA is accused of planting big forests in New Zealand to green-wash; REDD-MonitorA City for People takes a well-deserved victory lap over Wellington’s pro-YIMBY District Plan votes; A City for PeopleSteven Anastasiou takes a close look at the sticky ...
    The KakaBy Bernard Hickey
    1 day ago
  • Peters holds his ground on co-governance, but Willis wriggles on those tax cuts and SNA suspension l...
    Buzz from the Beehive Here’s hoping for a lively post-cabinet press conference when the PM and – perhaps – some of his ministers tell us what was discussed at their meeting today. Until then, Point of Order has precious little Beehive news to report after its latest monitoring of the ...
    Point of OrderBy Bob Edlin
    1 day ago
  • Labour’s final report card
    David Farrar writes –  We now have almost all 2023 data in, which has allowed me to update my annual table of how  went against its promises. This is basically their final report card. The promise The result Build 100,000 affordable homes over 10 ...
    Point of OrderBy poonzteam5443
    1 day ago
  • “Drunk Uncle at a Wedding”
    I’m a bit worried that I’ve started a previous newsletter with the words “just when you think they couldn’t get any worse…” Seems lately that I could begin pretty much every issue with that opening. Such is the nature of our coalition government that they seem to be outdoing each ...
    Nick’s KōreroBy Nick Rockel
    1 day ago
  • Wang Yi’s perfectly-timed, Aukus-themed visit to New Zealand
    Geoffrey Miller writes – Timing is everything. And from China’s perspective, this week’s visit by its foreign minister to New Zealand could be coming at just the right moment. The visit by Wang Yi to Wellington will be his first since 2017. Anniversaries are important to Beijing. ...
    Point of OrderBy poonzteam5443
    1 day ago
  • Gordon Campbell on Dune 2, and images of Islam
    Depictions of Islam in Western popular culture have rarely been positive, even before 9/11. Five years on from the mosque shootings, this is one of the cultural headwinds that the Muslim community has to battle against. Whatever messages of tolerance and inclusion are offered in daylight, much of our culture ...
    1 day ago
  • New Rail Operations Centre Promises Better Train Services
    Last week Transport Minster Simeon Brown and Mayor Wayne Brown opened the new Auckland Rail Operations Centre. The new train control centre will see teams from KiwiRail, Auckland Transport and Auckland One Rail working more closely together to improve train services across the city. The Auckland Rail Operations Centre in ...
    2 days ago
  • Bernard's six newsy things at 6.36am on Monday, March 18
    Photo: Lynn Grieveson / The KākāTL;DR: Retiring former Labour Finance Minister Grant Robertson said in an exit interview with Q+A yesterday the Government can and should sustain more debt to invest in infrastructure for future generations. Elsewhere in the news in Aotearoa-NZ’s political economy at 6:36am: Read more ...
    The KakaBy Bernard Hickey
    2 days ago
  • Geoffrey Miller: Wang Yi’s perfectly-timed, Aukus-themed visit to New Zealand
    Timing is everything. And from China’s perspective, this week’s visit by its foreign minister to New Zealand could be coming at just the right moment. The visit by Wang Yi to Wellington will be his first since 2017. Anniversaries are important to Beijing. It is more than just a happy ...
    Democracy ProjectBy Geoffrey Miller
    2 days ago
  • The Kaka’s diary for the week to March 25 and beyond
    TL;DR: The key events to watch in Aotearoa-NZ’s political economy in the week to March 18 include:China’s Foreign Minister visiting Wellington today;A post-cabinet news conference this afternoon; the resumption of Parliament on Tuesday for two weeks before Easter;retiring former Labour Finance Minister Grant Robertson gives his valedictory speech in Parliament; ...
    The KakaBy Bernard Hickey
    2 days ago
  • Bitter and angry; Winston First
    New Zealand First Leader Winston Peters’s state-of-the-nation speech on Sunday was really a state-of-Winston-First speech. He barely mentioned any of the Government’s key policies and could not even wholly endorse its signature income tax cuts. Instead, he rehearsed all of his complaints about the Ardern Government, including an extraordinary claim ...
    PolitikBy Richard Harman
    2 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #11
    A listing of 35 news and opinion articles we found interesting and shared on social media during the past week: Sun, March 10, 2024 thru Sat, March 16, 2024. Story of the week This week we'll give you a little glimpse into how we collect links to share and ...
    2 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #11
    A listing of 35 news and opinion articles we found interesting and shared on social media during the past week: Sun, March 10, 2024 thru Sat, March 16, 2024. Story of the week This week we'll give you a little glimpse into how we collect links to share and ...
    2 days ago
  • Out of Touch.
    “I’ve been internalising a really complicated situation in my head.”When they kept telling us we should wait until we get to know him, were they taking the piss? Was it a case of, if you think this is bad, wait till you get to know the real Christopher, after the ...
    Nick’s KōreroBy Nick Rockel
    2 days ago
  • Bring out your Dad
    Happy fourth anniversary, Pandemic That Upended Bloody Everything. I have been observing it by enjoying my second bout of COVID. It’s 5.30 on Sunday morning and only now are lights turning back on for me.Allow me to copy and paste what I told reader Sara yesterday:Depleted, fogged and crappy. Resting, ...
    More Than A FeildingBy David Slack
    3 days ago
  • Bring out your Dad
    Happy fourth anniversary, Pandemic That Upended Bloody Everything. I have been observing it by enjoying my second bout of COVID. It’s 5.30 on Sunday morning and only now are lights turning back on for me.Allow me to copy and paste what I told reader Sara yesterday:Depleted, fogged and crappy. Resting, ...
    More Than A FeildingBy David Slack
    3 days ago
  • Bring out your Dad
    Happy fourth anniversary, Pandemic That Upended Bloody Everything. I have been observing it by enjoying my second bout of COVID. It’s 5.30 on Sunday morning and only now are lights turning back on for me.Allow me to copy and paste what I told reader Sara yesterday:Depleted, fogged and crappy. Resting, ...
    More Than A FeildingBy David Slack
    3 days ago
  • The bewildering world of Chris Luxon – Guns for all, not no lunch for kids
    .“$10 and a target that bleeds” - Bleeding Targets for Under $10!.Thanks for reading Frankly Speaking ! Subscribe for free to receive new posts and support my work.This government appears hell-bent on either scrapping life-saving legislation or reintroducing things that - frustrated critics insist - will be dangerous and likely ...
    Frankly SpeakingBy Frank Macskasy
    3 days ago
  • Expert Opinion: Ageing Boomers, Laurie & Les, Talk Politics.
    It hardly strikes me as fair to criticise a government for doing exactly what it said it was going to do. For actually keeping its promises.”THUNDER WAS PLAYING TAG with lightning flashes amongst the distant peaks. Its rolling cadences interrupted by the here-I-come-here-I-go Doppler effect of the occasional passing car. ...
    3 days ago
  • Manufacturing The Truth.
    Subversive & Disruptive Technologies: Just as happened with that other great regulator of the masses, the Medieval Church, the advent of a new and hard-to-control technology – the Internet –  is weakening the ties that bind. Then, and now, those who enjoy a monopoly on the dissemination of lies, cannot and will ...
    3 days ago
  • A Powerful Sensation of Déjà Vu.
    Been Here Before: To find the precedents for what this Coalition Government is proposing, it is necessary to return to the “glory days” of Muldoonism.THE COALITION GOVERNMENT has celebrated its first 100 days in office by checking-off the last of its listed commitments. It remains, however, an angry government. It ...
    3 days ago
  • Can you guess where world attention is focussed (according to Greenpeace)? It’s focussed on an EPA...
    Bob Edlin writes –  And what is the world watching today…? The email newsletter from Associated Press which landed in our mailbox early this morning advised: In the news today: The father of a school shooter has been found guilty of involuntary manslaughter; prosecutors in Trump’s hush-money case ...
    Point of OrderBy Bob Edlin
    3 days ago
  • Further integrity problems for the Greens in suspending MP Darleen Tana
    Bryce Edwards writes – Is another Green MP on their way out? And are the Greens severely tarnished by another integrity scandal? For the second time in three months, the Green Party has secretly suspended an MP over integrity issues. Mystery is surrounding the party’s decision to ...
    Point of OrderBy poonzteam5443
    3 days ago
  • Jacqui Van Der Kaay: Greens’ transparency missing in action
    For the last few years, the Green Party has been the party that has managed to avoid the plague of multiple scandals that have beleaguered other political parties. It appears that their luck has run out with a second scandal which, unfortunately for them, coincided with Golraz Ghahraman, the focus ...
    Democracy ProjectBy bryce.edwards
    4 days ago
  • Bernard’s Dawn Chorus with six newsey things at 6:46am for Saturday, March 16
    TL;DR: The six newsey things that stood out to me as of 6:46am on Saturday, March 16.Andy Foster has accidentally allowed a Labour/Green amendment to cut road user chargers for plug-in hybrid vehicles, which the Government might accept; NZ Herald Thomas Coughlan Simeon Brown has rejected a plea from Westport ...
    The KakaBy Bernard Hickey
    4 days ago
  • How Did FTX Crash?
    What seemed a booming success a couple of years ago has collapsed into fraud convictions.I looked at the crash of FTX (short for ‘Futures Exchange’) in November 2022 to see whether it would impact on the financial system as a whole. Fortunately there was barely a ripple, probably because it ...
    PunditBy Brian Easton
    4 days ago
  • Elections in Russia and Ukraine
    Anybody following the situation in Ukraine and Russia would probably have been amused by a recent Tweet on X NATO seems to be putting in an awful lot of effort to influence what is, at least according to them, a sham election in an autocracy.When do the Ukrainians go to ...
    4 days ago
  • Bernard’s six stack of substacks at 6pm on March 15
    TL;DR: Shaun Baker on Wynyard Quarter's transformation. Magdalene Taylor on the problem with smart phones. How private equity are now all over reinsurance. Dylan Cleaver on rugby and CTE. Emily Atkin on ‘Big Meat’ looking like ‘Big Oil’.Bernard’s six-stack of substacks at 6pm on March 15Photo by Jeppe Hove Jensen ...
    The KakaBy Bernard Hickey
    4 days ago
  • Buzz from the Beehive Finance Minister Nicola Willis had plenty to say when addressing the Auckland Business Chamber on the economic growth that (she tells us) is flagging more than we thought. But the government intends to put new life into it:  We want our country to be a ...
    Point of OrderBy Bob Edlin
    4 days ago
  • National’s clean car tax advances
    The Transport and Infrastructure Committee has reported back on the Road User Charges (Light Electric RUC Vehicles) Amendment Bill, basicly rubberstamping it. While there was widespread support among submitters for the principle that EV and PHEV drivers should pay their fair share for the roads, they also overwhelmingly disagreed with ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Government funding bailouts
    Peter Dunne writes – This week’s government bailout – the fifth in the last eighteen months – of the financially troubled Ruapehu Alpine Lifts company would have pleased many in the central North Island ski industry. The government’s stated rationale for the $7 million funding was that it ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Two offenders, different treatments.
    See if you can spot the difference. An Iranian born female MP from a progressive party is accused of serial shoplifting. Her name is leaked to the media, which goes into a pack frenzy even before the Police launch an … Continue reading ...
    KiwipoliticoBy Pablo
    4 days ago
  • Treaty references omitted
    Ele Ludemann writes  – The government is omitting general Treaty references from legislation : The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last Government in a bid to get greater coherence in the public service on Treaty ...
    Point of OrderBy poonzteam5443
    4 days ago
  • The Ghahraman Conflict
    What was that judge thinking? Peter Williams writes –  That Golriz Ghahraman and District Court Judge Maria Pecotic were once lawyer colleagues is incontrovertible. There is published evidence that they took at least one case to the Court of Appeal together. There was a report on ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 15
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Climate Scorpion – the sting is in the tail. Introducing planetary solvency. A paper via the University of Exeter’s Institute and Faculty of Actuaries.Local scoop: Kāinga Ora starts pulling out of its Auckland projects and selling land RNZ ...
    The KakaBy Bernard Hickey
    4 days ago
  • The day Wellington up-zoned its future
    Wellington’s massively upzoned District Plan adds the opportunity for tens of thousands of new homes not just in the central city (such as these Webb St new builds) but also close to the CBD and public transport links. Photo: Lynn Grieveson / The KākāTL;DR: Wellington gave itself the chance of ...
    The KakaBy Bernard Hickey
    5 days ago
  • Weekly Roundup 15-March-2024
    It’s Friday and we’re halfway through March Madness. Here’s some of the things that caught our attention this week. This Week in Greater Auckland On Monday Matt asked how we can get better event trains and an option for grade separating Morningside Dr. On Tuesday Matt looked into ...
    Greater AucklandBy Greater Auckland
    5 days ago
  • That Word.
    Something you might not know about me is that I’m quite a stubborn person. No, really. I don’t much care for criticism I think’s unfair or that I disagree with. Few of us do I suppose.Back when I was a drinker I’d sometimes respond defensively, even angrily. There are things ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • The Hoon around the week to March 15
    Photo: Lynn Grieveson / The KākāTL;DR: The five things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the last week included:PM Christopher Luxon said the reversal of interest deductibility for landlords was done to help renters, who ...
    The KakaBy Bernard Hickey
    5 days ago
  • Labour’s policy gap
    It was not so much the Labour Party but really the Chris Hipkins party yesterday at Labour’s caucus retreat in Martinborough. The former Prime Minister was more or less consistent on wealth tax, which he was at best equivocal about, and social insurance, which he was not willing to revisit. ...
    PolitikBy Richard Harman
    5 days ago
  • Skeptical Science New Research for Week #11 2024
    Open access notables A Glimpse into the Future: The 2023 Ocean Temperature and Sea Ice Extremes in the Context of Longer-Term Climate Change, Kuhlbrodt et al., Bulletin of the American Meteorological Society: In the year 2023, we have seen extraordinary extrema in high sea surface temperature (SST) in the North Atlantic and in ...
    5 days ago
  • Melissa remains mute on media matters but has something to say (at a sporting event) about economic ...
     Buzz from the Beehive   The text reproduced above appears on a page which records all the media statements and speeches posted on the government’s official website by Melissa Lee as Minister of Media and Communications and/or by Jenny Marcroft, her Parliamentary Under-secretary.  It can be quickly analysed ...
    Point of OrderBy Bob Edlin
    5 days ago
  • The return of Muldoon
    For forty years, Robert Muldoon has been a dirty word in our politics. His style of government was so repulsive and authoritarian that the backlash to it helped set and entrench our constitutional norms. His pig-headedness over forcing through Think Big eventually gave us the RMA, with its participation and ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Will the rental tax cut improve life for renters or landlords?
    Bryce Edwards writes –  Is the new government reducing tax on rental properties to benefit landlords or to cut the cost of rents? That’s the big question this week, after Associate Finance Minister David Seymour announced on Sunday that the Government would be reversing the Labour Government’s removal ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Geoffrey Miller: What Saudi Arabia’s rapid changes mean for New Zealand
    Saudi Arabia is rarely far from the international spotlight. The war in Gaza has brought new scrutiny to Saudi plans to normalise relations with Israel, while the fifth anniversary of the controversial killing of Jamal Khashoggi was marked shortly before the war began on October 7. And as the home ...
    Democracy ProjectBy Geoffrey Miller
    5 days ago
  • Racism’s double standards
    Questions need to be asked on both sides of the world Peter Williams writes –   The NRL Judiciary hands down an eight week suspension to Sydney Roosters forward Spencer Leniu , an Auckland-born Samoan, after he calls Ezra Mam, Sydney-orn but of Aboriginal and Torres Strait ...
    Point of OrderBy poonzteam5443
    5 days ago
  • It’s not a tax break
    Ele Ludemann writes – Contrary to what many headlines and news stories are saying, residential landlords are not getting a tax break. The government is simply restoring to them the tax deductibility of interest they had until the previous government removed it. There is no logical reason ...
    Point of OrderBy poonzteam5443
    5 days ago
  • The Plastic Pig Collective and Chris' Imaginary Friends.
    I can't remember when it was goodMoments of happiness in bloomMaybe I just misunderstoodAll of the love we left behindWatching our flashbacks intertwineMemories I will never findIn spite of whatever you becomeForget that reckless thing turned onI think our lives have just begunI think our lives have just begunDoes anyone ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Who is responsible for young offenders?
    Michael Bassett writes – At first reading, a front-page story in the New Zealand Herald on 13 March was bizarre. A group of severely intellectually limited teenagers, with little understanding of the law, have been pleading to the Justice Select Committee not to pass a bill dealing with ram ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Gordon Campbell on National’s fantasy trip to La La Landlord Land
    How much political capital is Christopher Luxon willing to burn through in order to deliver his $2.9 billion gift to landlords? Evidently, Luxon is: (a) unable to cost the policy accurately. As Anna Burns-Francis pointed out to him on Breakfast TV, the original ”rock solid” $2.1 billion cost he was ...
    5 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 14
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Jonathon Porritt calling bullshit in his own blog post on mainstream climate science as ‘The New Denialism’.Local scoop: The Wellington City Council’s list of proposed changes to the IHP recommendations to be debated later today was leaked this ...
    The KakaBy Bernard Hickey
    5 days ago
  • No, Prime Minister, rents don’t rise or fall with landlords’ costs
    TL;DR: Prime Minister Christopher Luxon said yesterday tenants should be grateful for the reinstatement of interest deductibility because landlords would pass on their lower tax costs in the form of lower rents. That would be true if landlords were regulated monopolies such as Transpower or Auckland Airport1, but they’re not, ...
    The KakaBy Bernard Hickey
    6 days ago
  • Cartoons: ‘At least I didn’t make things awkward’
    This is a re-post from Yale Climate Connections by Tom Toro Tom Toro is a cartoonist and author. He has published over 200 cartoons in The New Yorker since 2010. His cartoons appear in Playboy, the Paris Review, the New York Times, American Bystander, and elsewhere. Related: What 10 EV lovers ...
    6 days ago
  • Solving traffic congestion with Richard Prebble
    The business section of the NZ Herald is full of opinion. Among the more opinionated of all is the ex-Minister of Transport, ex-Minister of Railways, ex MP for Auckland Central (1975-93, Labour), Wellington Central (1996-99, ACT, then list-2005), ex-leader of the ACT Party, uncle to actor Antonia, the veritable granddaddy ...
    Greater AucklandBy Patrick Reynolds
    6 days ago
  • I Think I'm Done Flying Boeing
    Hi,Just quickly — I’m blown away by the stories you’ve shared with me over the last week since I put out the ‘Gary’ podcast, where I told you about the time my friend’s flatmate killed the neighbour.And you keep telling me stories — in the comments section, and in my ...
    David FarrierBy David Farrier
    6 days ago
  • Invoking Aristotle: Of Rings of Power, Stones, and Ships
    The first season of Rings of Power was not awful. It was thoroughly underwhelming, yes, and left a lingering sense of disappointment, but it was more expensive mediocrity than catastrophe. I wrote at length about the series as it came out (see the Review section of the blog, and go ...
    6 days ago
  • Van Velden brings free-market approach to changing labour laws – but her colleagues stick to distr...
    Buzz from the Beehive Workplace Relations and Safety Minister Brooke van Velden told Auckland Business Chamber members they were the first audience to hear her priorities as a minister in a government committed to cutting red tape and regulations. She brandished her liberalising credentials, saying Flexible labour markets are the ...
    Point of OrderBy Bob Edlin
    6 days ago
  • Why Newshub failed
    Chris Trotter writes – TO UNDERSTAND WHY NEWSHUB FAILED, it is necessary to understand how TVNZ changed. Up until 1989, the state broadcaster had been funded by a broadcasting licence fee, collected from every citizen in possession of a television set, supplemented by a relatively modest (compared ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Māori Party on the warpath against landlords and seabed miners – let’s see if mystical creature...
    Bob Edlin writes  –  The Māori Party has been busy issuing a mix of warnings and threats as its expresses its opposition to interest deductibility for landlords and the plans of seabed miners. It remains to be seen whether they  follow the example of indigenous litigants in Australia, ...
    Point of OrderBy Bob Edlin
    6 days ago

  • Government moves to quickly ratify the NZ-EU FTA
    "The Government is moving quickly to realise an additional $46 million in tariff savings in the EU market this season for Kiwi exporters,” Minister for Trade and Agriculture, Todd McClay says. Parliament is set, this week, to complete the final legislative processes required to bring the New Zealand – European ...
    BeehiveBy beehive.govt.nz
    4 hours ago
  • Positive progress for social worker workforce
    New Zealand’s social workers are qualified, experienced, and more representative of the communities they serve, Social Development and Employment Minister Louise Upston says. “I want to acknowledge and applaud New Zealand’s social workers for the hard work they do, providing invaluable support for our most vulnerable. “To coincide with World ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • Minister confirms reduced RUC rate for PHEVs
    Cabinet has agreed to a reduced road user charge (RUC) rate for plug-in hybrid electric vehicles (PHEVs), Transport Minister Simeon Brown says. Owners of PHEVs will be eligible for a reduced rate of $38 per 1,000km once all light electric vehicles (EVs) move into the RUC system from 1 April.  ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Trade access to overseas markets creates jobs
    Minister of Agriculture and Trade, Todd McClay, says that today’s opening of Riverland Foods manufacturing plant in Christchurch is a great example of how trade access to overseas markets creates jobs in New Zealand.  Speaking at the official opening of this state-of-the-art pet food factory the Minister noted that exports ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • NZ and Chinese Foreign Ministers hold official talks
    Minister of Foreign Affairs Winston Peters met with Chinese Foreign Minister Wang Yi in Wellington today. “It was a pleasure to host Foreign Minister Wang Yi during his first official visit to New Zealand since 2017. Our discussions were wide-ranging and enabled engagement on many facets of New Zealand’s relationship with China, including trade, ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Kāinga Ora instructed to end Sustaining Tenancies
    Kāinga Ora – Homes & Communities has been instructed to end the Sustaining Tenancies Framework and take stronger measures against persistent antisocial behaviour by tenants, says Housing Minister Chris Bishop. “Earlier today Finance Minister Nicola Willis and I sent an interim Letter of Expectations to the Board of Kāinga Ora. ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Speech to Auckland Business Chamber: Growth is the answer
    Tēna koutou katoa. Greetings everyone. Thank you to the Auckland Chamber of Commerce and the Honourable Simon Bridges for hosting this address today. I acknowledge the business leaders in this room, the leaders and governors, the employers, the entrepreneurs, the investors, and the wealth creators. The coalition Government shares your ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Singapore rounds out regional trip
    Minister Winston Peters completed the final leg of his visit to South and South East Asia in Singapore today, where he focused on enhancing one of New Zealand’s indispensable strategic partnerships.      “Singapore is our most important defence partner in South East Asia, our fourth-largest trading partner and a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister van Velden represents New Zealand at International Democracy Summit
    Minister of Internal Affairs and Workplace Relations and Safety, Hon. Brooke van Velden, will travel to the Republic of Korea to represent New Zealand at the Third Summit for Democracy on 18 March. The summit, hosted by the Republic of Korea, was first convened by the United States in 2021, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Insurance Council of NZ Speech, 7 March 2024, Auckland
    ICNZ Speech 7 March 2024, Auckland  Acknowledgements and opening  Mōrena, ngā mihi nui. Ko Andrew Bayly aho, Nor Whanganui aho.  Good morning, it’s a privilege to be here to open the ICNZ annual conference, thank you to Mark for the Mihi Whakatau  My thanks to Tim Grafton for inviting me ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Five-year anniversary of Christchurch terror attacks
    Prime Minister Christopher Luxon and Lead Coordination Minister Judith Collins have expressed their deepest sympathy on the five-year anniversary of the Christchurch terror attacks. “March 15, 2019, was a day when families, communities and the country came together both in sorrow and solidarity,” Mr Luxon says.  “Today we pay our respects to the 51 shuhada ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech for Financial Advice NZ Conference 5 March 2024
    Speech for Financial Advice NZ Conference 5 March 2024  Acknowledgements and opening  Morena, Nga Mihi Nui.  Ko Andrew Bayly aho, Nor Whanganui aho. Thanks Nate for your Mihi Whakatau  Good morning. It’s a pleasure to formally open your conference this morning. What a lovely day in Wellington, What a great ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Early visit to Indonesia strengthens ties
    Foreign Minister Winston Peters held discussions in Jakarta today about the future of relations between New Zealand and South East Asia’s most populous country.   “We are in Jakarta so early in our new government’s term to reflect the huge importance we place on our relationship with Indonesia and South ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • China Foreign Minister to visit
    Deputy Prime Minister and Minister of Foreign Affairs Winston Peters has announced that the Foreign Minister of China, Wang Yi, will visit New Zealand next week.  “We look forward to re-engaging with Foreign Minister Wang Yi and discussing the full breadth of the bilateral relationship, which is one of New Zealand’s ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister opens new Auckland Rail Operations Centre
    Transport Minister Simeon Brown has today opened the new Auckland Rail Operations Centre, which will bring together KiwiRail, Auckland Transport, and Auckland One Rail to improve service reliability for Aucklanders. “The recent train disruptions in Auckland have highlighted how important it is KiwiRail and Auckland’s rail agencies work together to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Celebrating 10 years of Crankworx Rotorua
    The Government is proud to support the 10th edition of Crankworx Rotorua as the Crankworx World Tour returns to Rotorua from 16-24 March 2024, says Minister for Economic Development Melissa Lee.  “Over the past 10 years as Crankworx Rotorua has grown, so too have the economic and social benefits that ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government delivering on tax commitments
    Legislation implementing coalition Government tax commitments and addressing long-standing tax anomalies will be progressed in Parliament next week, Finance Minister Nicola Willis says. The legislation is contained in an Amendment Paper to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill issued today.  “The Amendment Paper represents ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Significant Natural Areas requirement to be suspended
    Associate Environment Minister Andrew Hoggard has today announced that the Government has agreed to suspend the requirement for councils to comply with the Significant Natural Areas (SNA) provisions of the National Policy Statement for Indigenous Biodiversity for three years, while it replaces the Resource Management Act (RMA).“As it stands, SNAs ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government classifies drought conditions in Top of the South as medium-scale adverse event
    Agriculture Minister Todd McClay has classified the drought conditions in the Marlborough, Tasman, and Nelson districts as a medium-scale adverse event, acknowledging the challenging conditions facing farmers and growers in the district. “Parts of Marlborough, Tasman, and Nelson districts are in the grip of an intense dry spell. I know ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government partnership to tackle $332m facial eczema problem
    The Government is helping farmers eradicate the significant impact of facial eczema (FE) in pastoral animals, Agriculture Minister Todd McClay announced.  “A $20 million partnership jointly funded by Beef + Lamb NZ, the Government, and the primary sector will save farmers an estimated NZD$332 million per year, and aims to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • NZ, India chart path to enhanced relationship
    Foreign Minister Winston Peters has completed a successful visit to India, saying it was an important step in taking the relationship between the two countries to the next level.   “We have laid a strong foundation for the Coalition Government’s priority of enhancing New Zealand-India relations to generate significant future benefit for both countries,” says Mr Peters, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Ruapehu Alpine Lifts bailout the last, say Ministers
    Cabinet has agreed to provide $7 million to ensure the 2024 ski season can go ahead on the Whakapapa ski field in the central North Island but has told the operator Ruapehu Alpine Lifts it is the last financial support it will receive from taxpayers. Cabinet also agreed to provide ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes action to drive better cancer services
    Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes action to drive better cancer services
    Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Fresh produce price drop welcome
    Lower fruit and vegetable prices are welcome news for New Zealanders who have been doing it tough at the supermarket, Finance Minister Nicola Willis says. Stats NZ reported today the price of fruit and vegetables has dropped 9.3 percent in the 12 months to February 2024.  “Lower fruit and vege ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to the 68th United Nations Commission on the Status of Women (CSW68)
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the 68th session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Statement to the 68th United Nations Commission on the Status of Women
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the sixty-eighth session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government backs rural led catchment projects
    The coalition Government is supporting farmers to enhance land management practices by investing $3.3 million in locally led catchment groups, Agriculture Minister Todd McClay announced. “Farmers and growers deliver significant prosperity for New Zealand and it’s vital their ongoing efforts to improve land management practices and water quality are supported,” ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to Auckland Business Chamber
    Good evening everyone and thank you for that lovely introduction.   Thank you also to the Honourable Simon Bridges for the invitation to address your members. Since being sworn in, this coalition Government has hit the ground running with our 100-day plan, delivering the changes that New Zealanders expect of us. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Commission’s advice on ETS settings tabled
    Recommendations from the Climate Change Commission for New Zealand on the Emissions Trading Scheme (ETS) auction and unit limit settings for the next five years have been tabled in Parliament, Climate Change Minister Simon Watts says. “The Commission provides advice on the ETS annually. This is the third time the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government lowering building costs
    The coalition Government is beginning its fight to lower building costs and reduce red tape by exempting minor building work from paying the building levy, says Building and Construction Minister Chris Penk. “Currently, any building project worth $20,444 including GST or more is subject to the building levy which is ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Trustee tax change welcomed
    Proposed changes to tax legislation to prevent the over-taxation of low-earning trusts are welcome, Finance Minister Nicola Willis says. The changes have been recommended by Parliament’s Finance and Expenditure Committee following consideration of submissions on the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill. “One of the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister’s Ramadan message
    Assalaamu alaikum. السَّلَام عليكم In light of the holy month of Ramadan, I want to extend my warmest wishes to our Muslim community in New Zealand. Ramadan is a time for spiritual reflection, renewed devotion, perseverance, generosity, and forgiveness.  It’s a time to strengthen our bonds and appreciate the diversity ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister appoints new NZTA Chair
    Former Transport Minister and CEO of the Auckland Business Chamber Hon Simon Bridges has been appointed as the new Board Chair of the New Zealand Transport Agency (NZTA) for a three-year term, Transport Minister Simeon Brown announced today. “Simon brings extensive experience and knowledge in transport policy and governance to the role. He will ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to Life Sciences Summit
    Good morning all, it is a pleasure to be here as Minister of Science, Innovation and Technology.  It is fantastic to see how connected and collaborative the life science and biotechnology industry is here in New Zealand. I would like to thank BioTechNZ and NZTech for the invitation to address ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Progress continues apace on water storage
    Regional Development Minister Shane Jones says he is looking forward to the day when three key water projects in Northland are up and running, unlocking the full potential of land in the region. Mr Jones attended a community event at the site of the Otawere reservoir near Kerikeri on Friday. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government agrees to restore interest deductions
    Associate Finance Minister David Seymour has today announced that the Government has agreed to restore deductibility for mortgage interest on residential investment properties. “Help is on the way for landlords and renters alike. The Government’s restoration of interest deductibility will ease pressure on rents and simplify the tax code,” says ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister to attend World Anti-Doping Agency Symposium
    Sport and Recreation Minister Chris Bishop will travel to Switzerland today to attend an Executive Committee meeting and Symposium of the World Anti-Doping Agency (WADA). Mr Bishop will then travel on to London where he will attend a series of meetings in his capacity as Infrastructure Minister. “New Zealanders believe ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-03-19T08:29:30+00:00