Daily Review 16/10/2015

Written By: - Date published: 6:00 pm, October 16th, 2015 - 38 comments
Categories: Daily review - Tags:

John Key Mike Hosking

Daily review is also your post.

This provides Standardistas the opportunity to review events of the day.

The usual rules of good behaviour apply (see the Policy).

Don’t forget to be kind to each other …

38 comments on “Daily Review 16/10/2015”

  1. ianmac 1

    Clever photo. Took a minute. 🙂

  2. Draco T Bastard 2

    Banking, Finance and Income Inequality

    * The entire money supply is effectively ‘on loan’ from the banks. This means that interest must be paid on most of the money in the economy. We’ve crunched the numbers on government surveys (covering over 3,000 households which interviewed more than 5,000 people aged 16 and over), and found that this interest transfers income and wealth from the bottom 90% of the population to the very top 10%. By allowing our money to be created by banks as debt, we’ve created a system that guarantees that inequality will get worse.

    * Money created by banks pushes up house prices. But it’s the wealthiest who benefit most from these rising prices. For those on lower incomes, or younger people who haven’t bought their first house, rising house prices push up the cost of living, leaving them with less disposable income and a lower standard of living. So rising house prices, fuelled by money created by banks, makes the gap between the richest and the rest of us even bigger.

    * A similar thing happens in the stock market. Money created by banks can fuel stock market bubbles, but because the wealthiest 5% of households own 40% of the assets in the financial markets, this benefits the very richest, and has limited benefit for everybody else. The gap gets even bigger.

    Why is the economy fucked? Because we’ve made it that way. We can change it if we vote in a government willing to make the necessary changes.

    • vto 2.1

      This is the largest issue facing our world

      Even the TPPA pales to insignificance against the structure of the money system

      Wake up people – it is the biggest thing of the lot

    • AmaKiwi 2.2

      Draco

      I never ceased to be amazed that so many tout “overseas investment in NZ” as a benefit. What’s beneficial about selling your house and paying rent for the rest of your life?

      • Smilin 2.2.1

        “Money is the root of all evil ” whoever said that originally wasn’t wrong and you can go from there
        Our present cowboy system was created in the US before it was the US a revolt against the European system of serfdom .
        The isolated communities in America built their own banks to hold their gold etc before there was a dollar which when it came had an exact redeemable value in precious metal to the reserves in those metals, it had to be or you’d get shot for theft if it wasnt
        Its not the same now except for the bullets they are in the law, bankruptcy, interest,fees you name it and the banks have instituted the control not the people or the governments
        The banks and the finance institutions control the values not the commodities that produce those values hence the producers carry the can when things go wrong and the banks are the first to get the payoff when things right themselves and everyone else is still chasing the carrot
        About time for another revolution, a really big one

        • nadis 2.2.1.1

          Yeah except that like most people who trot that quote out you have got it wrong. It should be “the love of money is the root of all evil” – a very different meaning.

  3. Tautoko Mangō Mata 3

    Gordon Campbell writes an interesting article “Gordon Campbell on Labour-bashing over the TPP, and Canada”

    “To sum up: the majority of the Labour caucus is not – and never has been – seriously opposed to the TPP. Certainly, those voters who feel insecure if New Zealand does anything other than prostrate itself before the altar of free trade should follow NBR’s advice, and vote for National in perpetuity. Good luck with that. On the other hand, those voters who continue to oppose the TPP as a poor deal for New Zealand (and a deal that contains many damaging and anti-competitive elements) will have to look elsewhere than Labour, in 2017. For similar reasons, Labour will not pose any threat to the government’s intentions when it comes to the Cullen /Reddy review of the powers of our security services, either. It is a party driven by the fear of its own traditions.”
    http://itsourfuture.org.nz/gordon-campbell-on-labour-bashing-over-the-tpp-and-canada/

    • AmaKiwi 3.1

      Less than a month ago a Labour MP told a group of supporters, “Our plan is to present ourselves as a credible alternative government in waiting.”

      Little and Robertson’s TPPA comments trashed that. Their ill conceived comments were ridiculed by the Left, Right, and Center.

      What’s Plan B?

  4. Tory 4

    Sounds like you are pinning your hopes on KDC avoiding extradition and once again funding the largest political funding that NZ has seen, you should be good for another 1.2% of the vote

  5. Tory 5

    http://www.theguardian.com/politics/2015/oct/10/labour-mps-defy-jeremy-corbyn-on-syria
    So if the oracle of the left, The Guardian, is saying Corbyn has lost control of his caucus then it’s apparent he and “Stuart” Little have something in common.

    • Ad 5.1

      Oh please like the left weren’t warned often and hard enough.

      The rising tide of political unreality of Corbyn and Sanders is as predictable as watching Auckland housing prices rise, peak, and fall.

      • Bill 5.1.1

        Is that “like the left weren’t warned often enough” a reference to Corbyn as an individual or a reference to a solid left leaning social democratic platform?

        If the former then…hmm, reasonable call.

        If the latter, then you might want to take stock of the fact that UK Labour’s failure to articulate a convincing left platform has them trailing 30% behind a party with an ostensibly solid left leaning social democratic platform in that country on the northern reaches of Britain.

        • Ad 5.1.1.1

          Former.

          Happy to see how he goes.
          He’s got five years to start a great reform movement.
          Whatevs.

        • dukeofurl 5.1.1.2

          Some would say the SNP was only a 5% party for all the while it really supported a ‘solid left leaning’ policy.

          Its history shows this.
          Douglas Young, who was imprisoned for opposing conscription was leader from 1942-45. people like Margo Macdonald who won Govan Westminster seat in 1974 was a staunch socialist. later in her career she was disciplined by the new moderate leadership- her crime was being a ‘SNP Fundamentalist’ and she was later expelled.
          Its forgotten now but in 1979 the SNP voted against the Callaghan labour government in a no confidence motion, ( lost by ONE vote) which directly led to the election of Thatcher.( Echoes of the 1924 no confidence vote lost by the Ramsay Macdonald labour government).

          For their troubles SNP got Thatcher who was opposed to devolution while labour was for ( A devolution referendum had recently passed in Scotland but not with the minimum 40% of electorate vote). NO need to mention what else Scotland got from Thatcher!
          The scots public punished the SNP in that election going from 11 Mps to 2.

          Once the SNP was not that far separated from the likes of SInn Fein in policy, but moving to the centre and ‘steady as it goes’ Tory maxims has done well for them.

  6. TootingPopularFront 6

    The Manchester Guardian was anti-Corbyn during the leadership election campaign and has continued that stance now that he leads the Labour Party. There is more than a suspicion amongst the readership (and I have been a regular grauniad reader for over 30 years) judging from the comments sections of Corbyn-related articles, that Tony Bliar is much missed by the editorial staff.

  7. Atiawa 7

    Great to see unions merging – E tu the union for all workers -. I hope other private sector unions throw their weight behind the new union and join the struggle.

  8. Ad 8

    And in breaking news from Dunedin, at Forsyth Barr Stadium this afternoon, over 82% of farmer shareholders favored selling out to Chinese-owned Shangai Maling.

    Presumably the 18% who did not were the group of shareholders including the members of the Meat Industry Excellence Group and state-owned farmer Landcorp who wanted so hard to find another way.

    An astounding thing about this deal is that the Chinese company is only seeking 50% of the revived entity. Astounding because the volume of cash they are putting up is damn huge.

    The great and still largely untapped story of locals defending New Zealand’s own economic interests against rapacious foreigners owning land and houses has gone on throughout 2015, and been confused by left and right alike as xenophobia.

    Just this month the law requiring that those who seek to sell homes and then sell them again under two years has come to pass. Those investors with hot money now have to have tax numbers both here and in their country of origin. So of course they melt back into the shadows. Result: the Auckland real estate market has come off the boil and is plateauing.

    Labour should regroup over the weekend, and start to conflate foreign farming land ownership and foreign existing house ownership.

    Despite the Silver Fern Farms vote, the fear of the loss of our own country will only grow. Forget the lost TPPA debate, and focus on what is really happening to our country now. There is major regional political upside to doing so.

      • Rosemary McDonald 8.1.1

        That was an outstanding interview…

        Now, watch SM demand production costs are lowered and turn to the Talley’s model of meatworks administration.

      • Ad 8.1.2

        I don’t believe the level of debt is worth comparing to Fonterra.
        In their own fashion, they are in a far stronger position than the New Zealand meat industry.

        They are extremely slow to learn their lessons, but they do learn them.

        Fonterra now understand the value of supply chain purity and security.
        After two massive and scary global-scale events. I shake my head.

        Fonterra now understand their vulnerability to bulk and cheap commodities.
        They will increasingly go for the value-added product lines. After a decade, spare me.

        Fonterra also understand the limits of their ability to raise capital.
        After their incredible failed big for National Foods, and the collapse of their first Chinese joint venture, they know the scale in which they have got to operate.

        All of this, including a cooperative form that binds the interests of farmers, shareholders, and government together, was simply ripe for central government to bang heads together in the meat industry, just as they had a generation ago in milk.

        Which brings me back to why I hate this government in particular: they are simply lazy.

    • dukeofurl 8.2

      its 50% + casting vote , which some financial people see as effective control.

      For control of a business like this, thats very cheap indeed. Effectively the banks have pulled the plug and forced this situation, which they will do to Fonterra in the not too distant future ( SFF was also a farmers cooperative) .

      Paying off the banks would only give them a 25-30% share, so supposedly the extra money is to be debt free and expand markets. Strange reasoning as the Shanghai Maling deal was to be all about bringing that part to the table.

      Whats interesting if the SFF actually sees the extra money once the banks are paid out, most likely they will ‘buy’ some Shanghai Maling assets in China with it ( thats where the casting vote is essential).

      Will likely SFF will end up just as a producer of carcasses for export, just like in the days of Vesteys and the UK trade, when the main processing was done offshore in butcher shops.

      • RedBaronCV 8.2.1

        And do we find that any number of supplier farms start being bought up by overseas interests in a farm to fork vertical strategy to stuff NZ?

      • Ad 8.2.2

        Well, I’m not prepared to write their future off just yet.

        And if the best New Zealand local agribusiness can come up with is the Talley’s family, maybe this situation could be a whole bunch worse.

        • dukeofurl 8.2.2.1

          Im surprised the banks havent pulled back on the Talleys leash, as well as getting them to reduce labour costs. As a private company they can keep quiet.

          Or do they have much more political pulling power than some beef and sheep meat farmers back in nationals heartland.
          Would be the place for Winston to spend some of his time in the deep south in the lead up to the next election

  9. AmaKiwi 9

    I do not think Corbyn and Sanders are a flash in the pan.

    Every generation or two there is a massive reversal in public opinion which results in stunning changes. (Mickey Savage, FDR’s New Deal, Hitler, Lenin, and earlier the US, French, and Russian revolutions, to name a few.)

    Here are 20 countries where the governments have totally lost control over large portions of their own territories.

    http://www.bloomberg.com/graphics/2015-ungoverned-world/

    There are secessionist movements in previously stable countries: Catalonia, Scotland, Wales, Netherlands, Venice, etc., and in more than 20 US states and Canadian provinces.

    Revolutions succeed when incumbent politicians are deaf to the need to overhaul the economic and social system. If the Labour caucus is pro-TPPA, it tells me the caucus is so out of touch that Labour will join National in the dustbin of history.

    “For the times they are a changing” and sticking with Labour is “walking with the dinosaurs.”

    • Ad 9.1

      I’ll believe you when they win something. Anything.

      • Colonial Viper 9.1.1

        FFS Ad both Sanders and Corbyn have won their respective constituencies for the last several decades in a row.

        What more do you want?

        A cursory look at Western history over the last 500 years should tell you that the much vaunted status quo always seems solid and enduring – until the moment the whole ediface collapses.

  10. Smilin 10

    Is it John Hoskey or Mike Jonkey ?

  11. Smilin 11

    To be perfectly Francis as Fred Dagg would say
    These financiers lawyers accountants and whoever else deals in money have had a field day since Decimal COINAGE came in and they have manage to decimate just about every decent piece of security that people upheld before , since
    They have made their fortunes at the expense of the masses

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  • Good little vassals
    The Inspector-General of Intelligence and Security has published their report on whether the SIS and GCSB had any complicity in American torture. And its damning. The pull quote is this:The Inquiry found both agencies, but to a much greater degree, the NZSIS, received many intelligence reports obtained from detainees who, ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Who Shall We Turn To When God, And Uncle Sam, Cease To Defend New Zealand?
    Bewhiskered Cassandra? Professor Hugh White’s chilling suggestion, advanced to select collections of academic, military and diplomatic Kiwi experts over the course of the past week, is that the assumptions upon which Australia and New Zealand have built their foreign affairs and defence policies for practically their entire histories – are ...
    1 week ago
  • The Politics of Opposition
    For most of the time I was a British MP, my party was out of government – these were the Thatcher years, when it was hard for anyone else to get a look-in. As a front-bencher and shadow minister, I became familiar with the strategies required in a parliamentary democracy ...
    Bryan GouldBy Bryan Gould
    1 week ago
  • More expert comments on the Canadian fluoride-IQ paper
    The Green et al (2019) fluoride/IQ is certainly controversial – as would be expected from its subject (see If at first you don’t succeed . . . statistical manipulation might help and Politics of science – making a silk purse out of a sow’s ear). Anti-fluoride campaigners have been actively promoting it ...
    1 week ago
  • The return to guerrilla war in Colombia
    by Gearóid Ó Loingsigh On August 29th a video in which veteran FARC (Revolutionary Armed Forces of Colombia) commander Iván Márquez announced that they had taken up arms again was released. There was no delay in the reaction to it, from longtime Liberal Party figure and former president Uribe, for ...
    RedlineBy Admin
    1 week ago
  • Air New Zealand identifies this enormous plot of unused land as possible second airport site
    Air New Zealand couldn’t believe its luck that this seemingly ideal piece of real estate had so far gone entirely unnoticed. Air New Zealand’s search for a site to build a second Auckland Airport may have made a breakthrough this afternoon, after employees scanning Google satellite imagery spotted a huge, ...
    The CivilianBy admin
    2 weeks ago
  • Redline on the Labour Party
    No-one on the anti-capitalist left in this country today puts forward a case that Labour is on the side of the working class.  There are certainly people who call themselves ‘socialist’ who do, but they are essentially liberals with vested interests in Labourism – often for career reasons. Nevertheless, there ...
    RedlineBy Admin
    2 weeks ago
  • New Fisk
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Labour’s failure
    When National was in government and fucking over the poor for the benefit of the rich, foodbanks were a growth industry. And now Labour is in charge, nothing has changed: A huge demand for emergency food parcels means the Auckland City Mission is struggling to prepare for the impending arrival ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Ardern attempts to vaccinate Clarke Gayford live on television to prove that it’s safe
    Gayford, pictured here on The Project, before things got wildly out of control. A bold public relations move by the Government to encourage parents to vaccinate their children has gone horribly wrong. Prime Minister Jacinda Ardern appeared on tonight’s episode of Three’s The Project, where the plan was for her ...
    The CivilianBy admin
    2 weeks ago
  • Has Mr. Whippy gone too far by parking on our front lawns?
    Mr. Whippy’s business model has driven it down a dark road of intimidation. Residents in major centres around the country are becoming disgruntled by the increasingly aggressive actions of purported ice cream company Mr. Whippy, who have taken to parking on people’s front lawns and doorsteps in a desperate attempt ...
    The CivilianBy admin
    2 weeks ago
  • Cleaning up the water
    Today the government released its Action Plan for Healthy Waterways, aimed at cleaning up our lakes and rivers. Its actually quite good. There will be protection for wetlands, better standards for swimming spots, a requirement for continuous improvement, and better standards for wastewater and stormwater. But most importantly, there's a ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Fronting up
    Today I appeared before the Environment Committee to give an oral submission on the Zero Carbon Bill. Over 1,500 people have asked to appear in person, so they've divided into subcommittees and are off touring the country, giving people a five minute slot each. The other submitters were a mixed ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Politics of science – making a silk purse out of a sow’s ear
    Anti-fluoride activists have some wealthy backers – they are erecting billboards misrepresenting the Canadian study on many New Zealand cities – and local authorities are ordering their removal because of their scaremongering. Many New Zealanders ...
    2 weeks ago
  • Democracy – I Don’t Think So
    So, those who “know best” have again done their worst. While constantly claiming to be the guardians of democracy and the constitution, and respecters of the 2016 referendum result, diehard Remainers (who have never brought themselves to believe that their advice could have been rejected) have striven might and main ...
    Bryan GouldBy Bryan Gould
    2 weeks ago
  • Government says it will now build just one really nice home
    Following publication of this article, the Ministry has requested it to be noted that this supplied image is not necessarily representative of what the final house will look like, and it “probably won’t be that nice.” As part of today’s long-anticipated reset of the Government’s flagship KiwiBuild policy, Housing Minister ...
    The CivilianBy admin
    2 weeks ago
  • Imperialism and your cup of coffee
    Over the next week or two we will be running three synopses of parts of the opening chapter of John Smith’s Imperialism in the 21st Century (New York, Monthly Review Press, 2016).  The synopsis and commentary below is written by Phil Duncan. Marx began Capital not with a sweeping historical ...
    RedlineBy Admin
    2 weeks ago
  • Still juking the stats
    The State Services Commission and Ombudsman have released another batch of OIA statistics, covering the last six months. Request volumes are up, and the core public service is generally handling them within the legal timeframe, though this may be because they've learned to extend rather than just ignore things. And ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Hard News: Time for a New Deal: 25 years on
    In 1994, I was editing an ambitious street mag called Planet, from a fabled office at at 309 Karangahape Road. The thirteenth issue of the magazine was published in the winter of that year and its cover embodied a particularly ambitious goal: the end of cannabis prohibition.I wanted to do ...
    2 weeks ago
  • Not impressed
    KiwiBuild was one of the Ardern government's core policies. The government would end the housing crisis and make housing affordable again by building 100,000 new homes. Of course, it didn't work out like that: targets weren't met, the houses they did build were in the wrong place, and the whole ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Solar beats coal
    As the climate crisis escalates, it is now obvious that we need to radically decarbonise our economy. The good news is that its looking easy and profitable for the energy sector. Wind is already cheaper than fossil fuels, and now solar is too:The levellised cost of solar PV has fallen ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • A Step Too Far.
    A Crown Asset? For reasons relating to its own political convenience, the Crown pretends to believe that “No one owns the water.” To say otherwise would re-vivify the promises contained in the Treaty of Waitangi – most particularly those pertaining to the power of the chiefs and their proprietary rights ...
    2 weeks ago
  • Where Money Comes From
    Most people would say, no doubt, that they have a pretty good idea of what money is. They live with the reality of money every day. It is what is needed to buy the necessities of life and to maintain a decent standard of living. You get money, they would ...
    Bryan GouldBy Bryan Gould
    2 weeks ago
  • Banned by the Green Party leadership: Jill Abigail on women’s rights and trans rights
    The article below was an opinion piece that appeared in the Spring 2019 issue of Te Awa (the NZ Green Party’s newsletter) and on the Greens website.  In keeping with their policy of hostility to women defending women’s right to female-only spaces, Green bureaucrats have since removed the opinion piece.  ...
    RedlineBy Admin
    2 weeks ago
  • The fallacy of the proximity argument.
    Longer term readers may remember my complaining that, as a political scientist, it is burdensome to have non-political scientists wanting to engage me about politics. No layperson would think to approach an astrophysicist and lecture him/her on the finer details of quarks and black holes, but everybody with an opinion ...
    KiwipoliticoBy Pablo
    2 weeks ago
  • Where We Stood: Chris Trotter Replies To Stevan Eldred-Grigg.
    Joining The Fight: Stevan Eldred-Grigg's argument for New Zealand staying out of the Second World War fails not only on the hard-headed grounds of preserving the country’s strategic and economic interests; and not just on the soft-hearted grounds of duty and loyalty to the nation that had given New Zealand ...
    2 weeks ago

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