capitalism

The age of recession sharpens class war

Written By: Marty G - Date published: 12:00 pm, August 13th, 2010 - 23 comments

So, it looks like we’re heading back into recession. We’re going to have to get used to the idea that we can’t depend on perpetual economic growth to deliver rising living standards to all. We could make nearly everyone wealthier with a fairer distribution of wealth but the opposite is happening. This is simply class war; a battle over shares of a diminishing prize. And we’re letting the rich win.

Financial regulation in USA

Written By: r0b - Date published: 12:30 pm, July 17th, 2010 - 17 comments

The recent global recession represented a spectacular failure of unfettered capitalism. We never felt the full force and completeness of that failure because the worst was averted – or rather just delayed – by vast injections of Government bailout money. America has learned its lesson, yesterday passing the strictest restrictions on banks and Wall Street since the Great Depression.

Private prison a money-waster, despite Collins’ spin

Written By: Marty G - Date published: 6:55 am, July 13th, 2010 - 9 comments

Judith Collins is lauding the $1.2 billion of economic activity that will suppoedly result from the private prison at Wiri. But wait, the government is planning to spend $101 million on construction and $40m per year for 30 years on wages. That’s $1.3b spent for only in $1.2b of economic activity. How’s that? Oh, yeah, the private foreign owner who will be taking hundreds of millions offshore.

Waltzing at the Doomsday Ball

Written By: notices and features - Date published: 10:32 am, July 10th, 2010 - 52 comments

This guy writes what I would aspire to write if I had the time and the cojones. For a lazy Saturday morning rant, read on.

Supermarket capitalism

Written By: r0b - Date published: 11:45 am, July 7th, 2010 - 72 comments

Supermarkets are squeezing producers while marking up the prices of fruit and vegetables by up to 500%. The worst side of capitalism in action. Support your local farmers’ market, and the Green’s call for a supermarket code of conduct.

English’s faith-based economics

Written By: Marty G - Date published: 8:40 am, July 2nd, 2010 - 90 comments

Bill English claims that our low national savings rate is due to the ‘government paying for everything’. According to English, people don’t need to save because the government pays for early childhood education, superannuation, Working for Families, and interest-free student loans. Does he have any evidence that is the case? Of course not. The evidence points the other way.

British austerity budget

Written By: r0b - Date published: 6:55 am, June 24th, 2010 - 28 comments

The first budget from the new Tory-LibDem government is a shocker, with massive austerity cuts and a rise in VAT to 20%. This is the bill for the £850 billion bail out of big banks coming home to roost.

Dancing on a head of a pin on asset sales

Written By: Marty G - Date published: 8:36 am, June 5th, 2010 - 59 comments

National really, really wants to sell assets – it’ll be worth a fortune to their rich mates who can’t seem to generate any success on their own without a government hand out. But the public is firmly against asset sales. It would be an election losing campaign issue. So, National will play a game of ambiguous promises and confusing financial moves to sell without appearing to sell.

NZ Sharemarket plummeting

Written By: the sprout - Date published: 12:52 pm, May 21st, 2010 - 9 comments

John Key’s “Don’t Be Jealous” Budget has done little to stop the European contagion from ravaging our sharemarket – at time of writing down 2.4% and still falling. The NZX company itself has dropped more than 5%, leading other significant losses by Fletcher Building, Sky City, and Contact Energy. Telecom is now down to an historic […]

Next step on mining

Written By: Marty G - Date published: 6:45 am, May 11th, 2010 - 27 comments

It looks like National is about to cave in to public opinion and abandon its ridiculous plans to mine on New Zealand’s most precious land. Good. The economics never made any sense, let alone the environmental case. The Nats’ economic ‘plan’ looks even thinner now. Here’s something they can do – sort out the minerals royalty and leases on mining concessions.

Pay rises for CEOs, pay cuts for workers

Written By: Marty G - Date published: 12:53 pm, May 7th, 2010 - 13 comments

The other day I wrote about pay rises for workers. 75% of non-union workers took a pay cut last year. Seems their bosses made off a lot better. Despite all the business collapses and the 21,000 lost jobs, half of all CEOs got a pay rise last year and the typical pay rise was a massive 5% (only 10% of workers got a 5%+ way rise). It’s the essence of class war.

Why the miners are so keen on public land

Written By: Marty G - Date published: 10:19 am, May 3rd, 2010 - 36 comments

Most of this country’s mineral wealth lies under private land, according to the government’s own figures. So, why are the Nats so determined to override public opinion and let their mining allies dig up our precious protected lands? Simple: mining on private land means paying a lease to the owner. Mining on public land is cheaper: we’re played like chumps for bigger profits.

Nats plan to subsidise greenhouse polluters

Written By: Eddie - Date published: 9:07 am, April 29th, 2010 - 21 comments

National is predictably planning to put the cost of polluters’ actions on to the rest of us by canning the major parts of the ETS. This stupid game of pass the buck is played out all over the world – polluters refuse to accept their responsibilities, governments refuse to act – as more greenhouse gases are pumped into the atmosphere, locking us in to economic and ecological devastation.

Conscience and alcodollars

Written By: IrishBill - Date published: 8:02 am, April 28th, 2010 - 37 comments

How does the government decide which are good drugs and which are bad?

And how much does it have to do with big money?