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Call your broker…

Written By: - Date published: 1:12 pm, April 28th, 2010 - 60 comments
Categories: capitalism, International - Tags: ,

As recently discussed, sovereign debt may well be the next crisis point in the world’s unstable financial system. In breaking news, things aren’t looking too rosy right now:

Standard & Poor’s downgrade Greek credit rating to junk status

Fears that financial crisis may spread to other eurozone countries

Stock markets around the world plunged today after Standard & Poor’s cut Greece’s credit rating to junk status and downgraded its view of Portugal in the clearest evidence yet that the European sovereign debt crisis is spreading. Italy and Spain are also viewed as vulnerable.

In London, the FTSE 100 index closed down more than 150 at 5603, a fall of 2.6%, and there were big falls in share prices in Athens, New York, Paris and Frankfurt. …

The FTSE’s fall today was the worst day’s performance since 26 November last year when worries about debt in Dubai gripped investors. By the time London closed, Wall Street was about 125 points lower, with investors ignoring better than expected US confidence figures as the news of the S&P downgrades filtered through. In France the CAC 40 fell 3.82% while the German Dax ended 2.73% lower.

Too big to fail? Time for another good old fashioned Socialist Big Government bailout? It’s only delaying the inevitable…

60 comments on “Call your broker…”

  1. Fisiani 1

    Thank goodness we have got rid of tax spend and borrow Labour.
    Quite right Rob another Socialist Big Government bailout is only delaying the inevitable.
    We should all breathe easier knowing we have a National government and have a safe pair of hands in Bill English as Finance Minister.

    • Pascal's bookie 1.1

      Coz tax cut, borrow, and spend is heaps smarter.

      • Gosman 1.1.1

        Ummmmm…. no.

        Tax cut and Government spending cut is much better.

        the situation now faced by Greece is the inevitable result of dodgy left wing economics. Witness all the pathetic Uniopn members up in arms that their pensions are going to be cut now. Oh boo hoo hoo you ignorant fools. If you didn’t want to suffer you shouldn’t have wasted all that money that wasn’t yours to begin with.

        • Macro 1.1.1.1

          and what money was that Gosman??
          should they have put it all into sub prime instead?

        • Zak Creedo 1.1.1.2

          Athens Olympics.. all borrowed.. debt circa $11bn back in the day.. methinks you could more justifiably add a big (dumb..?) dose of pride to those earlier Greek administrations.. all since seemingly have failed to overcome that biggie and the shadow boys have sure sheeted the debtloads in.. reardless, I would add, of inability to pay.

          But paying – in the way described above – is no longer the goal of investment banking. Is it, Gosman?

    • Jim Nald 1.2

      Tsk tsk tsk
      Satire and spoof taken to extreme limits?
      Their political faults and crimes are many
      They made sure we missed out on the best bargain sale of a lifetime
      By switching off super contributions
      They couldn’t even do one simple thing
      And continue the nation’s commitment to a long term project for our old age and future generations
      They are a Government of missed opportunities

      English & Key cost us another $18mil

      Nats ignored Treasury’s warnings on cancelling Cullen Fund payments

    • Clarke 1.3

      I think you forgot the “/irony” tag at the end of your comment.

    • ghostwhowalksnz 1.4

      I wouldnt trust Bill or his colleagues with a credit card or an expense account….oops to late. Im sure Fisiani , you sleep at night knowing they ‘paid it back’

    • Draco T Bastard 1.5

      You seem to have a strange definition of “borrow”. Last time I looked the 5th Labour government paid down debt.

      As for NACT:
      Borrowing money to give tax cuts
      Cutting essential services
      Raising GST so the poor will pay even more tax to give the rich even more tax cuts
      On top of that, they’re going to keep borrowing

      Then, once they’ve got the country in deep in the red they’ll sell everything for fire sale prices to their rich mates making the country even poorer.

      • john 1.5.1

        Yes Draco, you 100% right. I despair that Kiwis vote these Corporate b.st..ds into power. How people are suckered by the chump politics of John Key : vote for me I’m nice, charming, well dressed, cool,successful ( I made a mint on my computer as a money trader,before Merrill Lynch went down the gurgler, and have a house in Hawaii too !)Can I smile? be happy don’t worry! poised, meaning I represent the good life you all want. Beats me ! Whereas he stands for quite the opposite for ordinary Kiwis, e.g. Have an accident find it harder and harder to get the support you need, worsening to impossible if its completely privatized. This style of chump politics is an art form in the US : I am so charming, well dressed and successful like how could you dare contradict me you food stamp surviving Joe moron?! Personality con rather than issues.(The media too must be to blame partly too as news has become entertainment the presenters,Simon and Judy, more significant than the content,which is shallow to the extreme.) And people fall for it! Look at the Obaaamaaa hypnotic campaign.

  2. Fisiani can you explain this?

    Net Crown debt at the end of Helen’s and Michael’s reign (taking into account ACC reserves and Cullen Super fund) – Zero

    Increase of crown debt (according to English) $250 million a week.

    Who has the safer pair of hands?

    • r0b 2.1

      Bill’s hands are too busy stuffing $20 notes into his pockets.

      • mickysavage 2.1.1

        This from the horse’s (Blingsh’s) mouth just now in Parliament.

        Net core Crown debt as a percentage of GDP as at 30 June 2008 – 5.7%

        Latest stimate – 30%

        I believe that ACC levies are not taken into account.

    • Andrew 2.2

      Easy, ill answer that one …

      recession + bare cupboard = borrowings of $250 million a week

      • Jim Nald 2.2.1

        what the Nat Govt is doing is not a plan to get us out of recession, neither is it a plan to fill the cupboard nor a smart way to use borrowings that can transform our economy and increase growth & productivity

        The Nat Govt is taking us in the wrong direction
        Axing, cutting and stabbing
        Making things fall apart
        More swiftly dividing us
        along lines of class, race and gender

      • mickysavage 2.2.2

        That is a really good CT line the nats have worked out.

        1. Give no credit to the previous Government for paying off pretty well all Crown debt as well as building up reserves for ACC and in the Cullen Super Fund.
        2. Blame them for the economic outlook and totally ignore the meltdown that occurred in overseas market. Work out some good catchy slogans like “a decade of deficits” or “left the cupboard bare” or “a decade of economic mismanagement” and keep shouting this until the stupid start to beliefe you.
        3. Give tax cuts to the rich but say the resulting deficit is Cullen’s fault.

        So no credit for what they did and blame for what they are not responsible for.

        It is an ingenious PR line. It is also a pack of lies.

      • Armchair Critic 2.2.3

        ill answer that one
        Indeed.

      • Bright Red 2.2.4

        We’re not borrowing $250 million a week. Net debt has decreased so far this year. I’m getting sick of explaining that to you underinformed righties.

        http://treasury.govt.nz/government/financialstatements

        • mickysavage 2.2.4.1

          Agreed BR

          That is why I said “according to English”.

          What do those fancy facty things have to do with a good argument based on prejudice?

        • Andrew 2.2.4.2

          I was replying to micky, those were the figures he used (according to blinglish). I would have put the exact amount down, but i don’t know how much we are borrowing at the moment.

          look, yes labour paid down debt and i think that is great, but that’s what you can do when you have surpluses. They just happened to have a lot of good years at the helm and unemployment was at a record low and debt was paid back. That’s great, but as i said, that is not the position we as a country are in now.

          We were/are in recession and the government’s income is not what it was so instead of having extra money to play with, we now have a shortfall which we have to borrow. That will get better as time goes on, but at the moment im pretty sure we still need to borrow money to pay for all those things we have become accustomed to.

          So quit with the “underinformed righties” comment you over informed pedant.

    • Fisiani 2.3

      Ever heard of a hospital pass??
      QT today

      Hon BILL ENGLISH: By the time this Government took office it was clear that debt and deficits were spiralling out of control. As I noted in the Budget last year, if there had been no policy change, net Crown debt would have hit 62 percent of GDP, and climbing, by 2023. This would have been disastrous for the economy, resulting in a credit ratings downgrade, higher interest rates for households, businesses, and taxpayers, and would have cost thousands of jobs. So when the Opposition spokesman on finance looks at himself in the mirror every morning, as I am sure he does, how can he honestly claim his party left the economy in good order?

      • r0b 2.3.1

        Ever heard of a two faced lying politician? Which Bill English are you going to believe?

        Bill English had to swallow the proverbial dead rat this morning and effectively acknowledge that Michael Cullen had done something right in his stewardship of the Government’s finances in the past nine years.

        Having condemned his predecessor for many years for paying off debt too quickly, English said: “I want to stress that New Zealand starts from a reasonable position in dealing with the uncertainty of our economic outlook.”

        “In New Zealand we have room to respond. This is the rainy day that Government has been saving up for,” he told reporters at the Treasury briefing on the state of the economy and forecasts.

  3. vto 3

    Didn’t Standard & Poors rate all those financial institution failures as good bets prior to the headsmash? They clearly had it wrong then – why would they be right now?

    Who owns Standard & Poors?

    But nonetheless the problem definitely exists. Greece should just tell the debtors to go jump. Tell them to wait in line until things improve so they can pay, with low or zero interest. I mean, sheesh, Italy in trouble? ffs, its the 7th largest economy in the world. How can “Italy” be in trouble.

    Perhaps the problem should be more accurately defined – as the problem not of Italy but of those who lent ot a previous Italian government under a wholly different economic world.

    Perhaps the problem is that of the money system. Perhaps de Rothschilds et al should bear the brunt for creating such a system. Perhaps the Greeks should, just as blatantly but more openly (say, on live tv), do as the US and UK and other govts do … build a massive printing press right in the middle of Athens and on live tv start printing US dollars. Pile them up in a heap until there is 60billion dollars worth, then load it into a few trucks and drive north and tip it over the border.

    Expose the situation for what it is.

    • r0b 3.1

      build a massive printing press … and on live tv start printing US dollars. Pile them up in a heap until there is 60billion dollars worth, then … tip it

      That’s just crazy talk vto. Only America is allowed to do that. They call it “quantitative easing”, which makes it all OK, apparently.

      • nzfp 3.1.1

        Hey r0b,
        Any nation that has it’s own national currency can print it’s own money. Unfortunately for Greece, the Drachma was replaced with the Euro when Greece joined the Eurozone. All monetary control for the Euro resides in the European Central Bank (ECB) and not Greece. If Greece was able to print it’s own money it could monetize it’s debt and it could replace foreign borrowing with printed money for internal use. However the ECB doesn’t allow this. The best thing for Greece is to leave the Eurozone and start printing it’s own money. It should also start legal preceedings against Goldman Sachs for it fraudulent interest/credit default swaps.

        Greece is in the same boat (in the EU) as California (in the USA).

        • Clarke 3.1.1.1

          Agreed – the best (and in fact only) approach is for Greece to abandon the Euro and revert to their own internally issued currency so they regain control of their monetary and fiscal policy. And once this happens, it won’t be long before other PIIGS are forced into the same position and monetary union collapses in a heap.

        • Bright Red 3.1.1.2

          In a fiat currency, like all of them these days, a currency has no integral value. If Greece prints more currency it’s exchange rate will just plummet and inflation will skyrocket.

          The US was in a special position because it was facing deflation (making inflation not a problem), and it is the cornerstone currency (meaning everyone holds US debt, like gold, as a failsafe store of value). This meant the US could inflate away debt or, to look at it another way, put the cost of its debt on to the borrowers. by printing money it devalued the debt in US dollars held by other countries without risking high internal inflation and, by not taking this too far, not really risking foreigners refusing to borrow from it anymore.

          Greece isn’t in that position and neither is NZ. If we print money, people stop lending to us so we risk not being even able to raise new debt to replace existing debt as it expires (ie we could default), our currency collapses (Argentina) and with it the value of NZer’s NZ-based savings.

          • Draco T Bastard 3.1.1.2.1

            Actually, us printing our own money rather than borrowing is the more rational choice as it means that we would then have to exist within the limits of our own resources.

            • Clarke 3.1.1.2.1.1

              Material factoid: printing money = running a government deficit. However the key thing about a deficit generated in these circumstances is that it’s not debt, so it never needs to be repaid.

              The righties never tell you that ….

          • nzfp 3.1.1.2.2

            “Fiat” just means “let it be done”. It is a definition given to any currency defined as legal tender – which includes Gold and Silver and any other specie based currency such as the US had with the Gold and Silver certificates such as those issued by President Kennedy before his assasination.

            The definition of money is one of the central causes of division within economic circles. Money can be an accounting measure for a claim on wealth – defined by law (FIAT). FIAT currencies are as old as ancient Greece (300BC) and some estimates it is even older still. The oldest record of FIAT currency is the nomisma currencies of ancient Greece.

            Printing money can be accomplished with deficit spending, but it can also be accomplished completely independently of debt. President Lincoln financed the entire Civil War on the printing of “greenbacks” without incuring any debt. The currency was printed by the US Treasury and not by a Reserve Bank. the currency was then spent directly into the economy. Lincoln intended to continue the issuance of greenbacks in place of Central Bank borrowing (Keynesian deficit spending) but he was assasinated.

          • nzfp 3.1.1.2.3

            “If we print money, people stop lending to us so we risk not being even able to raise new debt to replace existing debt”

            But this is how both Argentina and Malaysia got out of their economic woes in 2003 and 1998 respectively. Have you seen Malaysias brand spanking new capital city? It was built entirely on printed Malaysian currency – worked out great for former Malaysian Prime Minister Dr. Tun Mahatir Bin Mohammed.

  4. nzfp 4

    Hey r0b
    “Time for another good old fashioned Socialist Big Government bailout?”

    You meant “Fascist” instead of “Socialist” right?

    Timothy Franz Geithner 75th United States Secretary of the Treasury (January 26, 2009 – Present), 9th President of the Federal Reserve Bank of New York
    Henry Merritt “Hank” Paulson, Jr 74th United States Secretary of the Treasury (July 3, 2006 January 20, 2009). Former CEO of Goldman Sachs
    Lawrence Henry Summers 71st United States Secretary of the Treasury (2 July 1999 20 January 2001), former Chief Economist for the World Bank, Obama administrations director of the White House National Economic Council
    Robert Edward Rubin 70th United States Secretary of the Treasury (January 11, 1995 July 2, 1999), 5th Chairman of the Council on Foreign Relations, 12th Chairman of Citigroup, 26 years at Goldman Sachs serving as a member of the Board, and Co-Chairman from 1990-1992.

    • r0b 4.1

      You meant “Fascist’ instead of “Socialist’ right?

      Different way of looking at it – it is public money they are pillaging to prop themselves up…

      • nzfp 4.1.1

        Yes, in this case it’s a fascist corporate control over Government – hence all the references to Goldman Sachs et al. Isn’t our Prime Minister a former Merril Lynch banker?

  5. freedom 5

    New Zealand is one of so many bedraggled tourists hanging out at the Casino, credit cards screaming for attention and the buffet of ignorance getting six visits a day.

    The dice have been rolled too many times and everybody thinks they have worked out a system.
    The simple truth is, the Pitbosses are being given pink slips and the owners are planning a merger

    Complain all you want but the game is and has always been fixed

    Some of us didn’t even book a ticket.
    We just woke up on the bus and were told the destination is not quite as pretty as it once was but there is plenty of shopping to keep your mind of the guys with the guns

  6. tsmithfield 6

    I am reasonably familiar with the Greece situation. Anyone who wants to find out more can find plenty of excellent articles here.

    Greece is an example of a democracy that has overspent due to excessive government size (approx 30% of employees employed by the government), excessive social benefits (e.g. retirement at 62), and inefficient tax collection. In other words, socialism on steriods. Plus, they fudged the figures to get into the EU in the first place. So other EU countries aren’t that keen on helping out. Especially Germany. Even if Greece is bailed out they still can’t afford the bail-out loans at the proposed interest rates. So, bailing out Greece is just kicking the can down the road.

    What I think is likely to happen now is that the creditors of Greece will probably have to take a hair-cut. The short term debt is likely to be restructured over a longer term.

    This is the way it should be IMO. If Greece gets bailed out, then there will be other Euro nations following with their hands out. The whole world has got into this mode that there is no risk anymore because if an economy or country gets into financial trouble, someone will bail it out. Its called moral hazard and it can’t lead to good.

    • ghostwhowalksnz 6.1

      You forget the previous Greek government , that got them into trouble was a right wing one ( just like Ireland). They were the usual right wing nostrums, spend and borrow.
      Of course Bush had the same policies. He was president when the sky fell in 2008.
      Explain all that TS. Or was Bush a ‘socialist too’.

      • tsmithfield 6.1.1

        I think the distinction between right and left has become considerably blurred over the last few decades. There are a lot of “right wing” governments, including the current NACT one that I would regard as very socialistic.

        So far as Bush goes, he decided to piss the money away in wars. He would have been better to give it to the poor IMO. At least it would have done good rather than cause misery. Perhaps we would both agree on that score.

    • Bright Red 6.2

      Countries that have survived the recession the best – Norway, Denmark, Finland, Sweden – are all notable for their high government spending, high portion of workers employed by the state, good welfare, and equality of income. these factors cushioned the impact of international recession on the domestic economy.

      Greece’s problem was reckless borrowing, starting with the 2004 Olympics. There’s nothing wrong with high level government spending (in fact, it’s great), if you’re willing to pay the tax for it.

      • Clarke 6.2.1

        The real problem for Greece was not the borrowings for the Games per se – it was that they were forced to borrow in euro rather than the local currency, due to their membership of the EU. This means they can only repay the debt by generating export receipts in euro, rather than by running an internal (and completely benign) government deficit.

        For reasons known only to the Greeks, they have shackled themselves to German monetary policy decisions and ceded their currency sovereignty. This will not result in anything other than poverty for their citizens.

    • Clarke 6.3

      ts, you’re barking up completely the wrong tree with that line of argument.

      For starters, your numbers are all over the shop. According to the notoriously left-wing OECD, total Greek government outlays are projected to make up 49.9% of the total economy in 2010 – a little less that the Eurozone 51% average. The Greeks are projected to run a budget deficit of about 9.8% of GDP this year, in comparison to the 11.8% deficit of the United States. And the Greek tax and non-tax government revenues comprise 40.1% of the economy, barely any different to NZ at 40.0%.

      In other words, Greece’s current woes have nothing to do with these alleged structural imbalances, but everything to do with their compliance with the arbitrary and capricious rules of EU membership. And the IMF/ECB austerity program that will soon be meted out to Greek citizens will achieve nothing other than their impoverishment.

      • tsmithfield 6.3.1

        I wouldn’t put too much faith in those figures Clarke. Their projections have generally been considered way too optimistic by most commentators, and it turns out that last years deficit is higher than was thought

        Follow that link I gave in my post. There are heaps of good articles on the subject

        • Clarke 6.3.1.1

          I wouldn’t put too much faith in those figures Clarke.

          So you prefer to trust random bloggers rather than the OECD? Good luck with that. So let’s have a look at Greece’s total government outlays for past years compared to the Eurozone average, then, when the figures aren’t in dispute:

          2009: Greece = 51.3%, Eurozone = 50.7%
          2008: Greece = 48.3%, Eurozone = 46.9%
          2007: Greece = 44.4%, Eurozone = 46.0% (oops, that rather blows the ideological position)

          … and so it goes, all the way back to 1992. Greece’s minor variances from average Eurozone ratios simply don’t bear out your hypothesis.

          Follow that link I gave in my post. There are heaps of good articles on the subject

          Oh yeah, the link to Seeking Alpha – the site that specialises wild-assed conjecture and half-baked theories from a grab-bag of random commentators. Have you actually checked their About page recently, where they boast:

          Seeking Alpha differs from other finance sites because it focuses on opinion and analysis rather than news, and is primarily written by investors who describe their personal approach to stock picking and portfolio management, rather than by journalists.

          Translation: “No actual facts were checked in the writing of these articles. Likely to be uninformed bullsh*t.” Best of all, they have transcripts of Jim Cramer’s stock picks, the genius who was recommending investors buy Lehmanns three days before it imploded. Yet with rubbish sources like these, you’re trying to diss the OECD?

          • tsmithfield 6.3.1.1.1

            That comparison against other Eurozone countries is a little misleading because the average figure includes the other PIIGS countries which are in the shit in a similar way.

            Also, as I pointed out, it has been found already that deficit estimates from last year were wrong. So, I wouldn’t put too much trust in future estimates of deficits. You will find that most commentators think they are being way to optimistic, which is why their spreads are widening so much.

            So far as your adhom about the Seeking Alpha site is concerned, did you actually bother to read any of the articles? If you did, I think you would find that the material is generally of very high quality. Sure there is plenty of divergent opinion. However, if you want to get a good understanding, that is usually a good thing.

            • Clarke 6.3.1.1.1.1

              The comparison between Greece and the rest of the Eurozone is completely valid as it holds over a long period of time – the historical figures from 1992 – 2009 demonstrate the same thing; that Greece is not significantly divergent from the Eurozone averages in either its deficit levels nor the government involvement in the economy. The source data is here (caution: xls download) so you can do your own comparisons. Unfortunately these comparisons are unlikely to support your ideological position.

              The reason the spreads are widening on Greek debt has nothing to do with the government’s lack of right-wing orthodoxy, and everything to do with a speculative play against the Euro. The consensus is that only Germany and France have the economic and political wherewithal to defend the Euro, and the market is betting heavily that they can’t or won’t prevent a Greek implosion. The very real issues for Greece stemming from a lack of currency sovereignty are now being used as a speculative opportunity, with Greek citizens as the primary losers.

              As for Seeking Alpha, I did read some of the links you provided. While the commentary on Greece isn’t too bad, the credibility of some of the “commentators” is truly appalling – such as this nut-job, who is (still) busy predicting a blow-up in the Japanese bond market despite all the evidence of the last 20-odd years pointing in exactly the opposite direction. I’ve seen astrologers with a more scientific approach than some of these clowns.

              • tsmithfield

                Clarke, had a look at that download.

                The figure you want to look at is “gross financial liabilities”. Doesn’t really matter what they have been borrowing on a yearly basis as a percentage of GDP. What matters is that they can’t pay it back, so total debt is ballooning.

                The spreadsheet you linked to shows Greek debt, as a percentage of GDP, at 115% last year and tracking towards 130% in a few years from now. This is the situation as I understand it.

                So far as your comments re Seeking Alpha is concerned, I agree, there are some commentators to avoid as with any online blog type format. However, a lot of it is very good. If you want to stay safe and sanitised you can stick to the articles that have been recommended by the editor, which are usually of very high quality.

    • Zaphod Beeblebrox 6.4

      So socialism = debt (which one current account or government debt?). That must make George W and Reagan pretty big socialists.

    • nzfp 6.5

      ts you said “they fudged the figures to get into the EU” but lets just be very specific about who “they” are. We know that Goldman Sachs ‘profited at clients’ expense’ and we also know that bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future. The Daily Finance reported in an article titled “Senator Levin: Goldman Bet Against Its Own Securities” that the US Senate subcommittee found:

      “For large fees Goldman helped run a conveyor belt that dumped hundreds of billions of dollars of toxic mortgages into the financial system,” Levin said. That provided the lenders with liquidity so that they could issue still more bad loans, he said. Goldman Sachs used financial engineering to turn the high-risk mortgages into investments that were granted AAA ratings, selling them to pension funds, universities, municipalities, insurance companies and banks throughout the world, according to Levin.

    • Akldnut 6.6

      ts – I am reasonably familiar with the Greece situation.

      I don’t think so – you need to read the real reason.

  7. freedom 7

    David Rockefeller, founder of the Trilateral Commission,
    in an address to a meeting of The Trilateral Commission, in June, 1991.

    “We are grateful to The Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. -But, the work is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national autodetermination practiced in past centuries.”

    capcha: game
    set and match

    • MS 7.1

      freedom – haven’t seen that quote before. frightening.

      i seem to recall the last bilderberg group meeting was in athens, greece.

      capcha: begun
      we’ve only just…

    • vto 7.2

      freedom, that last sentence of rockefellers is typical of so many in the world today. Follow a reasonable line of thought, or logic, etc and then BANG throw in a big whammy that makes no sense but accomplishes what the speaker intends.

      Nick Smith and other politicians are expert at this technique. Sensible logic, yes yes, makes sense makes sense, whammy – I guess the idea is that because all else makes some sort of sense then the ludicrous crux point gets caught up in that chain and gets credibility by association.

      Oh, and btw the whole thing makes me cringe. Perhaps Rockefeller will be the next Marie Antoinette etc

    • Quoth the Raven 7.3

      and unsurprisingly many of the social democrats here are supportive of the idea of a world government and were not so long ago championing the Euro and proposing a world currency. When will they learn?

  8. As I predicted long long time ago we are heading for a huge collapse. I hate being right sometimes.

    Today Spain was downgraded and I predict Italy and Portugal will be next.

    Further down the line there will be California, UK, US and yes even NZ will go down

    Captcha: commercial. LOL

  9. The Chairman 11

    TARP Watchdog Says Criminal Charges May Be On the Table For New York Fed Over AIG Coverup

    http://www.businessinsider.com/sigtarp-says-criminal-charges-may-be-on-the-table-for-geithner-and-co-over-aig-deals-2010-4

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    No Right TurnBy Idiot/Savant
    2 days ago
  • Escape from Manus Island
    Behrouz Boochani is an award winning author and journalist. He is also a refugee, who for the past six years has been detained in Australia's offshore gulag on Manus Island, and in Papua New Guinea. But last night, with the cooperation of the WORD Christchurch festival and Amnesty International, he ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • When World’s Collide.
    Different Strokes: If a multicultural immigration policy imposes no obligation on immigrant communities to acknowledge and ultimately embrace their host nation’s most cherished traditions and values, then how is that nation to prevent itself from being reduced to a collection of inward-looking and self-replicating ethnic and cultural enclaves?THE COALITION GOVERNMENT’S ...
    2 days ago
  • Could There Be Method In Massey University’s Madness?
    Protective Zone: Reading the rules and guidelines released by Massey University, it is impossible to avoid the conclusion that its governing body considers the whole concept of free speech a disruptive threat to the orderly imparting of orthodox academic knowledge.IN TRUE ORWELLIAN fashion, Massey University has announced its commitment to ...
    3 days ago
  • Climate Change: We need more trees, not less
    Farmers held a hate-march on Parliament today, complete with MAGA hats, gun-nut signs, and gendered insults. While supposedly about a grab-bag of issues - including, weirdly, mental health - it was clear that the protest was about one thing, and one thing only: climate change. And specifically, forestry "destroying" rural ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • The IGIS annual report: Dead letters and secret law
    The Inspector-General of Intelligence and Security released their annual report today, and I've been busy reading through it. In amongst the usual review of what they've been doing all year, there's a few interesting bits. For example, a discussion on "agency retention and disposal of information", which points out that ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • A referendum on bigotry
    The End of Life Choice Bill passed its third reading last night, 69 - 51. Thanks to a compromise with NZ First - which looks to have been necessary on the final numbers - the commencement of the bill will be subject to a referendum. Given the ugliness of the ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • Political parties and GMOs: we all need to move on
    Recently more than 150 post-graduate students and young scientists presented an open letter to the Green Party via The Spinoff, encouraging them to reconsider their position on genetic modification. Their target is tackling climate change issues.[1] Can any party continue to be dismissive about genetic modification (GM) contributing to ...
    SciBlogsBy Grant Jacobs
    3 days ago
  • Class, Identity Politics and Transgender Ideology
    by Deirdre O’Neill Under Thatcher and then Blair and continuing up until our contemporary moment, the working class has seen its culture slowly and progressively destroyed. The change from an industrial society to a service society produced a marked shift in focus from the working class as the backbone of ...
    RedlineBy Admin
    4 days ago
  • Irony
    Since 2013, the Australian government has detained refugees without trial in Pacific gulags, where they are abused, tortured, and driven to suicide. The policy is not just an abuse of human rights and possible crime against humanity; it has also had a corrosive effect on the states Australia uses as ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • An age of protest.
    It seems fair to say that we currently live in a problematic political moment in world history. Democracies are in decline and dictatorships are on the rise. Primordial, sectarian and post-modern divisions have re-emerged, are on the rise or have been accentuated by political evolutions of the moment such as ...
    KiwipoliticoBy Pablo
    4 days ago
  • Another captured agency
    Last month, Greenpeace head Russel Norman surrendered his speaking slot at an EPA conference to student climate activist Sorcha Carr, who told the EPA exactly what she thought of them. It was a bold move, which confronted both regulators and polluters (or, as the EPA calls them, "stakeholders") with the ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • NZ First’s dodgy loans
    The core principle supposedly underlying New Zealand's electoral finance regime is transparency: parties can accept large donations from rich people wanting to buy policy, but only if they tell the public they've been bought. Most parties abide by this, so we know that TOP was wholly-owned by Gareth Morgan, and ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Member’s Day: The choice on End of Life Choice
    Today is a Member's Day, probably the second-to-last one of the year, and its a big one, with the Third Reading of David Seymour's End of Life Choice Bill. last Member's Day it was reported back from committee, after MPs voted narrowly to make it subject to a (rules TBA) ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • How growth in population and consumption drives planetary change
    Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. If you have a question you’d like an expert to answer, please send it to climate.change@stuff.co.nz The growth of the human population over the last 70 ...
    SciBlogsBy Guest Author
    4 days ago
  • The disappearing Women …
    by The Council of Disobedient Women In her excellent oral submission to the Abortion reform select committee on 31st October on behalf of Otago University’s Department of Public Health, historian and public health researcher Hera Cook stated: “We would ask that the committee not use the term ‘pregnant persons’ and ...
    RedlineBy Daphna
    5 days ago
  • “A Passage to India”: enduring art in changing times
    by Don Franks In 1957, E M Forster wrote, of his greatest work: “The India described in ‘A Passage to India’ no longer exists either politically or socially. Change had begun even at the time the book was published ( 1924) and during the following quarter of a century it ...
    RedlineBy Daphna
    5 days ago
  • Contemptuous
    The Referendums Framework Bill was due back from select committee today. But there's no report on it. Instead, the bill has been bounced back to the House under Standing order 29593) because the Committee didn't bother to produce one. They probably tried. But given the membership of the committee (which ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Zero Carbon: It’s not just a good idea, it’s the law
    Two years into New Zealand’s Labour-led government, the long-delayed Zero Carbon Bill became law on 7 November. Passed essentially unanimously, the lengthy public debates and political manoeuvring faded away until the final passage was even anticlimactic: Flipping through the @nzstuff @DomPost I was starting to wonder if I’d dreamt ...
    SciBlogsBy Robert McLachlan
    5 days ago
  • Climate Change: What happens next?
    Now the Zero Carbon Bill is law, what's next? Obviously, the ETS changes currently before select committee are going to be the next battleground. But we're also going to get a good idea of where we're going, and if the progress the Zero Carbon Act promises is good enough, during ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Climate change will fuel bush fires
    Grant Pearce The effects of the current Australian bushfires in New South Wales and Queensland (and also again in California) are devastating and far-reaching. To date, the fires have resulted in several lives being lost and many homes and properties destroyed. Here in New Zealand, the impacts have been only ...
    SciBlogsBy Guest Author
    5 days ago
  • Participation rates
    A passing comment in a post the other day about the labour force participation rates of older people prompted me to pull down the fuller data and see what we could see about various participation rates over the decades since the HLFS began in 1986.   As it happens, the ...
    SciBlogsBy Michael Reddell
    5 days ago
  • Not So Much “OK Boomer” As “OK Ruling Class”.
    Distract And Divert: The rise of what we have come to call “Identity Politics” represents the ideological manifestation of the ruling class’s objective need to destroy class politics, and of the middle-class’s subjective need to justify their participation in the process.THE RELIEF of the ruling class can only be imagined. ...
    5 days ago
  • Asking for it …
    "I saw a newspaper picture,From the political campaignA woman was kissing a child,Who was obviously in pain.She spills with compassion,As that young child'sFace in her hands she gripsCan you imagine all that greed and avariceComing down on that child's lips?" ...
    6 days ago
  • New Zealand’s Poor Pandemic Preparedness According to the Global Health Security Index
    Dr Matt Boyd, Prof Michael Baker, Prof Nick Wilson The Global Health Security Index which considers pandemic threats has just been published. Unfortunately, NZ scores approximately half marks (54/100), coming in 35th in the world rankings – far behind Australia. This poor result suggests that the NZ Government needs to ...
    SciBlogsBy Public Health Expert
    6 days ago
  • Climate Change: Thank Winston
    The Zero Carbon Act is inadequate, with a weak methane target designed to give farmers a free ride. But it turns out it could have been worse: Climate Change Minister James Shaw was so desperate to get National on board, he wanted to gut that target, and leave it in ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Illicit markets and Bali Booze
    The Herald reprints an Australian story on a couple of tragic deaths in Bali from drinking cocktails that had methanol in them.  The story argues that methanol is likely the result of home distillation. But what the young tourists were experiencing was far from a hangover. They’d consumed a toxic cocktail ...
    SciBlogsBy Eric Crampton
    6 days ago
  • This is not what armed police are for
    Last month, the police announced a trial of specialist roaming armed units, which would drive round (poor, brown) areas in armoured SUVs, armed to the teeth. When they announced the trial, they told us it was about having armed police "ready to attend major incidents at any time if needed". ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Spain’s failed electoral gamble
    Spain went to the polls today in the second elections this year, after the Socialists (who had come to power in a confidence vote, then gone to the polls in April) rejected the offer of a coalition with the left-wing PoDemos, and instead decided to gamble n a better outcome ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • The astroturf party
    National has finally rolled out its "BlueGreen" astroturf party, fronted by an array of former nats and people who were dumped by the Greens for not being Green enough. Its initial pitch is described by Stuff as "very business-friendly", and its priorities are what you'd expect: conservation, predator-free funding, a ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • How to cheat at university
    A couple of days ago I attended (and spoke at) the University of Waikato’s “LearnFest” event. There were lots of talks and sessions on very diverse aspects of teaching, mostly at tertiary level. One was by Myra Williamson from Te Piringa Faculty of Law here at Waikato, on Contract Cheating ...
    SciBlogsBy Marcus Wilson
    6 days ago
  • How NZ was put on world maps using a transit of Mercury
    There will be a transit of Mercury – the planet Mercury will pass across the face of the Sun – taking place at sunrise in New Zealand on Tuesday, 12th November. It was by observing such an event 250 years ago that James Cook and his scientist colleagues were able ...
    SciBlogsBy Duncan Steel
    7 days ago
  • Georgina Beyer: We need to be able to talk without being offended
    Since becoming the world’s first openly transexual mayor and member of parliament, Georgina Beyer has been recognised as a trailblazer for trans rights. Daphna Whitmore talks with her about where she sees the current trans movement We start out talking about legislation the government put on hold that would have ...
    RedlineBy Daphna
    1 week ago
  • The anti-fluoride brigade won’t be erecting billboards about this study
    If FFNZ really put their faith in “Top Medical Journals” they would now be amending their billboards to recognise new research results. Image from FFNZ but updated to agree with the latest research. ...
    1 week ago
  • Chosen To Rule? What Sort Of Christian Is Chris Luxon?
    National Messiah? Chris Luxon identifies himself as an evangelical Christian. If he is genuine in this self-characterisation, then he will take every opportunity his public office provides to proselytise on behalf of his faith. He will also feel obliged to bear witness against beliefs and practices he believes to be ...
    1 week ago
  • War of the worms
    I'm going to make a Reckless Prediction™ that the Tories have 'topped out' in the 'poll of polls' / Britain Elects multipoll tracker at about 38%, and in the next week we will start to see Labour creep up on them.In fact, we might just be seeing the start of ...
    1 week ago
  • Marvelly shows us how to be a feminist without feminism
    by The Council of Disobedient Women Lizzie Marvelly: “I may have missed this… has @afterellen gone all terf-y? Or am I reading something incorrectly? “ https://twitter.com/LizzieMarvelly/status/1191840059105742849 After Ellen is a lesbian website that is unashamedly pro-lesbian, as you’d expect. So why is Ms Marvelly so bothered about lesbians having their ...
    RedlineBy Daphna
    1 week ago
  • Out of the past – Tories to revive racist laws from the 16th century
    Did you know there once was a time when it was illegal to be a gypsy (aka Romani) in Britain?That was between 1530, when the Egyptians Act was passed, and 1856, when it was repealed.Amongst other things, the act forbade the entry of 'Egyptians' into England, ordered those already there ...
    1 week ago
  • 1000 of these now
    Some days I sit and think, “what will I write…?” What do you say when you get to 1000 posts? Maybe you just start where you are, diverge to where this all began, then offer a collection of reader’s favourite posts, and a few of your own? (And throw in ...
    SciBlogsBy Grant Jacobs
    1 week ago
  • Has Shane Jones Just Saved NZ First?
    Counter-Puncher: The “activists” and “radicals” (his own words) from the Indian community who took such strong exception to Shane Jones’ remarks about Immigration NZ’s treatment of arranged marriages, may end up bitterly regretting their intervention. Jones is not the sort of person who turns the other cheek to his critics.SHANE ...
    1 week ago
  • Climate Change: As predicted
    Yesterday, when National voted for the Zero Carbon Bill, I predicted they'd gut it the moment they regained power, just as they had done to the ETS. And indeed, they have explicitly promised to do exactly that within their first hundred days in office. What would their amendments do? Abandon ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Let this never be forgot
    In the spirit of Remember, remember the fifth of November, let's keep this in mind FOREVER.
    Oh dear. Extraordinary interview on PM with Andrew Bridgen and @EvanHD just now. Bridgen was defending Jacob Rees Mogg’s Grenfell comments. Evan asked him if JRM had meant to say he would have left ...
    1 week ago
  • Too Late To Change Capitalism’s Flightpath?
    Collision Course? In conditions of ideological white-out, the international bankers’ “Woop-Woop! Pull Up!” warning may have come too late to save global capitalism.WHAT DOES IT MEAN when international bankers are more willing to embrace radical solutions than our politicians and their electors? At both the International Monetary Fund and the ...
    1 week ago
  • Whooping cough vaccine works well despite its imperfections
    Pertussis (whooping cough) is a conundrum. It is a disease that was described hundreds of years ago and the bacteria that causes it (Bordetella pertussis) isolated in 1906. We have had vaccines for about 80 years but this disease is defiant in the face of human immunity. I wanted to ...
    SciBlogsBy Helen Petousis Harris
    1 week ago
  • Climate Change: Passed
    The Zero Carbon Bill has just passed its third reading, uanimously. In the end, National supported it - but we all know they'll turn around and gut it the moment they regain power. Meanwhile, I guess ACT's David Seymour didn't even bother to show up. I am on record as ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Retailing of vaping products – New NZ Research
    Dr Lindsay Robertson, Dr Jerram Bateman, Professor Janet Hoek Members of the public health community hold divergent views on how access to vaping products or electronic nicotine delivery systems (ENDS) products should be arranged. Some believe ENDS should be as widely available as smoked tobacco and argue for liberal ...
    SciBlogsBy Public Health Expert
    1 week ago
  • Justice for Bomber
    When the Police were trying to cover up for the National Party over Dirty Politics, they went all-in with their abuses of power. They illegally search Nicky Hager's house, violating his journalistic privilege and invading his privacy. They unlawfully acquired Hager's bank records. They did the same to left-wing blogger ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Britain’s climate tyranny was unlawful
    Last month, in response to a wave of protests by Extinction Rebellion, the British government purported to ban their protests from the whole of London. It was a significant interference with the freedoms of expression and assembly, and another sign of the country's decline into tyranny. But now, a court ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • More crime from the spies
    Last year, the Inspector-General of Intelligence and Security reported on significant problems with the intelligence warrant system. While they were unwilling to declare any warrant "irregular" (meaning unlawful) due to the recent law change, they were also not willing to give the system a clean bill of health. Now, they've ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Vaccination, compulsion, and paternalism for the lower orders
    The National Party has come out in support of encouraging greater vaccination uptake. But it sure isn’t the way I’d do it. National’s suggested docking the benefits of those on benefit whose kids aren’t keeping up with their vaccinations. Some in National have suggested extending that to payments under Working ...
    SciBlogsBy Eric Crampton
    1 week ago
  • Global Protests Rage On: But Slogans Are Not Plans.
    Feeding The Flames: It is simply not enough to demand an end to “corruption”, or “inequality”, or the overbearing influence of the authorities in Beijing. These are just “lowest common denominator” demands: the sort of slogans that pull people onto the streets. They are not a plan.WHERE’S THE PLAN? Across ...
    1 week ago
  • 11,000 employed under Labour
    The labour market statistics have been released, and unemployment has risen to 4.2%. There are 115,000 unemployed - 11,000 fewer than when Labour took office. In that time the minimum wage has gone up by $2 an hour, which shows that the right's fears about increases causing unemployment are simply ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Boycott this democratic fraud
    The Foreign Affairs, Defence and Trade Committee has called for submissions on Andrew Little's tyrannical Terrorism Suppression (Control Orders) Bill. Normally I encourage participation in the democratic process. I am not doing so in this case. Instead, I encourage all of you to boycott this submissions process, and to post ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Why Mars is cold despite an atmosphere of mostly carbon dioxide
    Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. If you have a question you’d like an expert to answer, please send it to climate.change@stuff.co.nz If tiny concentrations of carbon dioxide can hold enough heat ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Climate Change: Ban private jets
    Aviation is one of the fastest growing sources of greenhouse gas emissions, and within it, one of the fastest sources is elite travel: billionaires flitting around the world in their private jets, spewing excessive pollution into the atmosphere just so they can avoid mixing with us dirty peasants. But in ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Climate Change: Untold Suffering
    That's what we face if we don't stop climate change, according to a warning from 11,000 scientists:The world’s people face “untold suffering due to the climate crisis” unless there are major transformations to global society, according to a stark warning from more than 11,000 scientists. “We declare clearly and unequivocally ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The left and violent misogyny
    by Phil Duncan Here’s just a few of the kind of threats issued day in and day out against gender-critical women – feminists, marxists, etc – overwhelmingly by MEN (albeit men identifying as women). “Kill all Terfs”. “Shoot a Terf today”. “All terfs deserve to be shot in the head”. ...
    RedlineBy Admin
    2 weeks ago
  • Imperialism and the iPhone
    This is the third of the 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. Unlike the humble cup of coffee and t-shirt that we looked at in ...
    RedlineBy Admin
    2 weeks ago
  • The freshwater mussel housing crisis: eviction by invasive weeds?
    Tom Moore Traditionally a food source and cutting tool, freshwater mussels/kākahi are now widely valued as water filters that help clean our waterbodies and maintain ecosystem health throughout Aotearoa. The improvement they provide in water quality can make it easier for other animals to live in streams and rivers, as ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Back it up Luxon: endorsing the destructive past is not actually the way forward
    And to think he gave all the potential goodwill away with that moronic, cult-like statement (repeated ad nauseam by many National hardliners) that Key is quite simply “the greatest PM we ever had”… Installation complete: this was nothing ...
    exhALANtBy exhalantblog
    2 weeks ago
  • Good riddance
    National MP and former Conservation Minister Maggie Barry will not seek re-election next year. Good riddance. Because in case anyone has forgotten, barry is a bullying thug who terrorised both public servants and fellow MPs. She is one of the people who makes Parliament a toxic workplace, and our country ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Climate Change: D-Day
    The Zero Carbon Bill is back in the House today for its second reading. While this isn't the final stage, its still effectively D-Day for the bill. Because today, at around 5pm, is when we're going to find out if it has a majority, whether National will support it or ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Winston is right
    Winston Peters is in court today, suing a bunch of former Minister and civil servants over their pre-election leak of his superannuation repayment. He's characterised the leak as malicious, and said that it is repugnant that his information was passed on to Ministers to use for political advantage. And he's ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Media impartiality
    Sky's economics editor, Ed Conway has posted a Twitter thread responding to a claim that - as far as I can see - Labour never made:
    Are NHS operation cancellations at an all-time high? That's the impression you might have been left with if you read this story from the ...
    2 weeks ago
  • Finish what’s on your plate
    Murray Cox Do I have to finish my favourite genome? That’s an often-asked question. Geneticists generally strive to produce high-quality genomes that sequence every last gene, making full use of the state-of-the-art technologies coming on stream. Sequencing DNA means determining the order of the four chemical building blocks – called ...
    SciBlogsBy Genomics Aotearoa
    2 weeks ago
  • Gainful Employment: A Cautionary Tale.
    Transformative Politics: The idea is to turn each recipient into an unwitting accomplice in their own transformation. From interested observer to hyped-up activist, sharing our messages promiscuously with ‘friends’. You’ll be part of an ever-expanding circulatory system, Jennifer, for the ideas that will win us the election.”JENNIFER SKITTERED her chair ...
    2 weeks ago
  • New Zealand should not fund bigotry
    Two years ago, the Cook Islands government announced that it was planning to join the civilised world and decriminalise consensual homosexual sex between men. Now, they've reversed their position, and decided to criminalise lesbians into the bargain:Two years ago, in a step welcomed by many people including the gay and ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • New Fisk
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • More tyranny in Australia
    The boycott is a fundamental tool of protest. By choosing who we buy from, we can send a message, and hopefully change corporate behaviour. Historically, boycotts have been effective, for example over apartheid in South Africa and Israel, in forcing divestment from Myanmar, and in ending bus segregation in the ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

  • Kiwis to have their say on End of Life Choice
    Jenny Marcroft MP, Spokesperson for Health New Zealand First backs the public to decide on the End of Life Choice Bill via a referendum at the 2020 General Election. The Bill, with New Zealand First’s referendum provision incorporated, passed its final reading in Parliament this evening. New Zealand First Spokesperson for ...
    3 days ago
  • Addressing miscarriages of justice
    Darroch Ball, Spokesperson for Justice New Zealand First is proud that a key Coalition Agreement commitment which will provide for a more transparent and effective criminal justice system has been realised. Legislation to establish the Criminal Cases Review Commission, an independent body focused on identifying and responding to possible miscarriages of ...
    4 days ago
  • Week That Was: Historic action on climate change
    "Today we have made a choice that will leave a legacy... I hope that means that future generations will see that we, in New Zealand, were on the right side of history." - Jacinda Ardern, Third Reading of the Zero Carbon Bill ...
    1 week ago
  • Tax-free deployments for Kiwi troops
    Darroch Ball, New Zealand First List MP A Member’s bill has been proposed that would provide income tax exemptions for all New Zealand Defence Force (NZDF) personnel while on operational deployment overseas. The Income Tax (Exemption for Salary or Wages of NZDF Members on Active Deployment) Amendment Bill proposed by New Zealand First ...
    1 week ago
  • A balanced Zero Carbon Bill passed
    Rt Hon Winston Peters, New Zealand First Leader New Zealand First is proud to have brought common sense to the Climate Change Response (Zero Carbon) Amendment Bill, which passed its final reading in Parliament today. Party Leader Rt Hon Winston Peters says months of hard work went into negotiating a balanced ...
    1 week ago
  • Paramedics’ status to be recognised
    Jenny Marcroft MP, Spokesperson for Health New Zealand First has listened to calls to recognise paramedics as registered health professionals under the Health Practitioners’ Competence Assurance Act (the Act). Today, the Coalition Government announced plans for paramedics to be registered as health practitioners under the Act, and the establishment of a ...
    2 weeks ago
  • Week That Was: 2,000 teachers in two years
    We began the week by commemorating the New Zealand Wars and celebrating a major increase in the number of teachers. Then, we were busy supporting offenders into work and getting our rail back on track after years of underinvestment. And that's just the start! ...
    2 weeks ago
  • Winning an election one conversation at a time
    In October I was sworn in as the Mayor of Lower Hutt. It’s the privilege of my life to serve Hutt people as their Mayor. There is something really special to be able to serve the community where I was raised, and where I live.   ...
    2 weeks ago
  • Closer cooperation with Korean horse racing industry
    Rt Hon Winston Peters, Deputy Prime Minister, Minister for Racing Racing Minister Winston Peters met with Korea Racing Authority Chairperson Nak Soon Kim in Seoul today to discuss closer cooperation between the New Zealand and Korean horse racing industries. As part of the visit to the Seoul Racecourse, Mr Peters witnessed ...
    3 weeks ago
  • Otago to lead digital creativity
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF) is investing $10 million to establish Otago as the centre of New Zealand’s creative digital industry over the next ten years, Regional Development Minister Shane Jones announced today. “The initiative will bring us closer to the vision of ...
    3 weeks ago
  • Young Otago students encouraged to take on forestry careers
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF)’s skills and employment programme will help young Otago people into long-term forestry careers, Regional Economic Development Minister Shane Jones announced today. Te Ara Mahi will invest $63,000 in the 2020 school year to support eight 17 and 18 ...
    3 weeks ago
  • PGF backing Dunedin’s waterfront ambitions
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF) will support local plans to revitalise and stimulate economic development opportunities in Otago, Regional Economic Development Minister Shane Jones has announced. The four Regional Economic Development Ministers have approved an in-principle investment of $19.9 million towards the region’s ...
    3 weeks ago
  • M. Bovis eradication progress welcomed
    Mark Patterson, Spokesperson for Primary Industries New Zealand First is pleased to have received the Technical Advisory Group (TAG) report on the Coalition Government’s Mycoplasma bovis eradication efforts, which shows significant progress in the fight against the disease. New Zealand First Spokesperson for Primary Industries, Mark Patterson, says the report’s findings ...
    3 weeks ago
  • PGF boosts Otago’s engineering and manufacturing sector
    Hon Shane Jones, Minister for Regional Economic Development Hon David Parker, Minister for Trade and Export Growth The Provincial Growth Fund (PGF) is investing to support economic growth opportunities for Otago’s engineering and manufacturing sectors, Regional Development Minister Shane Jones and Trade and Export Minister David Parker announced today. Almost $20 million ...
    3 weeks ago
  • Minister Peters discusses Pacific challenges and denuclearisation in Seoul
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Foreign Minister Winston Peters and his South Korean counterpart, Kang Kyung-wha, discussed in Seoul today opportunities to work more closely in the Pacific and the situation on the Korean Peninsula. Mr Peters and Minister Kang confirmed New Zealand and the ...
    3 weeks ago
  • PGF supports high speed broadband for marae at Parihaka Pa
    Hon Shane Jones, Minister for Regional Economic Development  Hon Nanaia Mahuta, Minister for Māori Development The three marae in the historic Parihaka Pa complex in Taranaki have been upgraded to high speed broadband with the support of the Provincial Growth Fund (PGF), Regional Economic Development Minister Shane Jones announced today. “Connecting the ...
    3 weeks ago
  • Advancing Pacific Partnerships 2019 launched
    Hon Ron Mark, Minister of Defence Minister of Defence Ron Mark will today launch the Advancing Pacific Partnerships 2019 Defence Assessment  during a speech at Te Papa.  The Assessment outlines how Defence will partner with our Pacific Island neighbours and invest in Pacific regional security architecture. The Plan aligns with the Coalition ...
    3 weeks ago
  • PGF funding could transform Gisborne company into “beacon of employment” in two years
    A new Provincial Growth Fund investment could create about 80 new jobs in Gisborne over the next two years, turning a local small business into a “beacon of employment” in the process. Regional Economic Development Parliamentary Under-Secretary Fletcher Tabuteau said the PGF’s Te Ara Mahi funding stream would provide $1.6m ...
    3 weeks ago

  • Fairer rules for tenants and landlords
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