Archive for May, 2012

Into Black-Scholes: where all the money went

Written By: - Date published: 11:14 am, May 2nd, 2012 - 15 comments

A very interesting article on the BBC – the financial formula that ruined the world. Well, that’s a bit sensationalist, but it’s a formula that allowed intuition to be taken out of “options” trading and computers to move in.  And with the “understanding” of the maths of futures there was a move into more and […]

Inter-generational theft

Written By: - Date published: 10:24 am, May 2nd, 2012 - 49 comments

Baby boomers strike again. In 1989, University fees for domestic students in New Zealand were  less than $300. Moreover, for many students, 90% of that cost was met by the government through a fees grant. NZUSA has a very good history of fees in New Zealand. But I just want to say thank you to the baby boomer generation. […]

The polls must be crazy

Written By: - Date published: 10:08 am, May 2nd, 2012 - 14 comments

OK. I’m officially confused. Is National plummeting or holding? Is Labour gaining or falling? Are the Greens becoming the second party or slipping back? 5 polls: 5 different answers.

Wages rise faster than inflation!

Written By: - Date published: 7:27 am, May 2nd, 2012 - 26 comments

For the first time under this National government, average wages and salaries actually rose (2%) faster than inflation (1.6%), so in the last year people are ever so slightly better off – I think congratulations are in order!

Resignationwatch: why unethical, probably illegal, behaviour is OK in Key’s govt

Written By: - Date published: 7:07 am, May 2nd, 2012 - 129 comments

For the first time in 3.5 years, Lockwood Smith didn’t preside over question time yesterday. The hapless National backbencher Eric Roy took his place resulting an awfully convenient farce. Key refused to answer questions, going so far as to say he wasn’t responsible for who is a minister. But, like the sudden slew of ministerial announcements, Key’s evasiveness will not distract the media, which smells blood.

Open mike 02/05/2012

Written By: - Date published: 6:00 am, May 2nd, 2012 - 145 comments

Open mike is your post. For announcements, general discussion, whatever you choose. The usual rules of good behaviour apply (see the link to Policy in the banner). Step right up to the mike…

ImperatorFish: Government Moves To End Boat People Crisis

Written By: - Date published: 2:28 pm, May 1st, 2012 - 24 comments

Scott at Imperator Fish has kindly given us permission to syndicate posts from his blog – the original of this post is here.

John Key comes up with a crisis.

CamerKey and BanksHunt

Written By: - Date published: 1:40 pm, May 1st, 2012 - 7 comments

David Cameron was summoned to Parliament to explain why he has not called an enquiry into Culture Minister Jeremy Hunt’s backdoor contacts with the Murdochs. Cameron accepted verbal assurances from Hunt but did not ask for evidence, and Hunt was “not aware” of what his now-sacked confidential adviser was doing. Sounds very familiar here; both Ministers are on the slippery slope and both PM’s evasiveness is costing them at the polls. Question Time should be interesting today.

If Banks resigns

Written By: - Date published: 12:21 pm, May 1st, 2012 - 70 comments

A by-election in Epsom. If ACT or National win, the Right retains 61 votes. But, between resignation and swearing in typically takes 3 months during which the Right would have 60 v 60. Legislation fails on draws. Asset sales, SkyCity, welfare cuts, even the Budget could all fail if the Maori Party wants. And what if the Conservatives win? They’re anti-asset sales and crony capitalism. You can see why Key is turning a blind eye.

Euthanasia bill

Written By: - Date published: 11:42 am, May 1st, 2012 - 136 comments

Maryan Street’s “End of Life Choice Bill” has triggered another round of debate. A recent poll shows public support for legalising voluntary euthanasia at an all time high. It’s a question of “when” not “if”.

Twisting in the wind

Written By: - Date published: 10:03 am, May 1st, 2012 - 24 comments

According to 3 News, Kim Dotcom paid cheques into John Banks’ campaign account in Queenstown. Duncan Garner says this would show up on Banks’ bank records as “anonymous”. So how did Kim Dotcom get TeamBanksie’s account number? Two days after he had had a lunch meeting with Banks.

More questions for the Police to ask and Banks to answer.

Rhetoric and reality: Key’s principles

Written By: - Date published: 9:21 am, May 1st, 2012 - 42 comments

In 2008 John Key was loudly telling us about his high standards and principles. The Banks case is yet more proof that it was all a prattle of empty rhetoric.

Resignation-watch: John Banks

Written By: - Date published: 6:53 am, May 1st, 2012 - 139 comments

John Key has refused to sack John Banks saying “The test is, did he breach the law or not? If he hasn’t, then he’s not guilty”. That has never been the standard ministers are held to. Ministers are required to uphold “the highest ethical standards“. It looks like Banks traded an ‘anonymous’ donation from Kim Dotcom for his political influence. Is that Key’s idea of the “highest ethical standards”?

Open mike 01/05/2012

Written By: - Date published: 6:00 am, May 1st, 2012 - 58 comments

Open mike is your post. For announcements, general discussion, whatever you choose. The usual rules of good behaviour apply (see the link to Policy in the banner). Step right up to the mike…