Written By: - Date published: 11:47 am, March 8th, 2017 - 93 comments
The IMF warns that our household debt is far too high, as desperate tenants start raiding the Kiwisaver accounts to pay the rent.
Written By: - Date published: 9:17 am, December 4th, 2016 - 36 comments
Bernard Hickey: “It is extraordinary for the Prime Minister to call the Treasury’s short and long term forecasts a “load of nonsense” and yet rely on the medium term ones to promise all manner of riches to voters on the eve of an election.”
Written By: - Date published: 7:26 am, November 16th, 2016 - 21 comments
The bright orange trigger for a sharp rise in mortgage interest rates may have just arrived. Our over-indebted home owners are highly vulnerable.
Written By: - Date published: 10:33 am, October 16th, 2016 - 30 comments
Hickey in The Herald on Sunday: “Our household debt to income ratio of 165 per cent is now about 5 per cent above those previous highs of 2008 and rising quickly as debt rises around twice as fast as incomes.”
Written By: - Date published: 12:48 pm, August 10th, 2016 - 125 comments
“Revealed: Labour’s plan to wipe student debt”. Nope. Saved you a click.
Written By: - Date published: 12:08 pm, August 8th, 2016 - 72 comments
Financial capital is way over powered in our current political economic system. Every aspect of our lives has been financialised and securitised, from our homes to our educations. From our drinking water to our power supply.
Written By: - Date published: 12:11 am, May 20th, 2016 - 173 comments
What does it really mean to reduce NZ’s total fossil fuel use by 50% by 2030: a warm up discussion for an upcoming thought experiment.
Written By: - Date published: 3:18 pm, April 8th, 2016 - 4 comments
Okay. So rumoour has it that John was merely a co-writer.
Written By: - Date published: 1:11 pm, March 12th, 2016 - 82 comments
People talk of excessive borrowing in the dairy sector. Of course, the real problem is that of excessive lending.
Written By: - Date published: 5:47 pm, March 8th, 2016 - 141 comments
Pundits, most residing in the National Party, just three years ago predicted the economy would surf high on “rivers of white oil” flowing from the dairy industry, but they now have cow pats splattered on their faces as Fonterra today announced another payout downgrade and signalled liquidity pressures.
Written By: - Date published: 10:15 am, February 25th, 2016 - 141 comments
A new edition of “Confessions of an Economic Hitman” has been released. It makes it clear that we are in the grip of a global “Death Economy” and a collective embrace of ‘Thanatos’, the death instinct.
Written By: - Date published: 10:02 am, February 10th, 2016 - 166 comments
A “$17 billion hole in the economy”. An estimated $18 billion lost because National stopped investing in the super fund. A record national debt. And we’re still talking about tax cuts? Lunacy!
Written By: - Date published: 9:13 am, January 25th, 2016 - 135 comments
Regular commenter Paul rounds up the links you need to read to prepare yourself for the coming second GFC. National won’t be able to pass this one on to future generations by loading NZ up with crippling debt. We’ll be paying for GFC2 economically, socially and personally, right here, right now.
Written By: - Date published: 11:16 am, January 9th, 2016 - 248 comments
This morning’s Herald contains a story about a young man who with a family gift has managed to purchase eleven houses over the past five years and can afford to pay World of Warcraft all day.
Written By: - Date published: 1:45 pm, October 14th, 2015 - 91 comments
The Government books have hit surplus. But it looks like treatment of the financials for the Canterbury Earthquake may account for pretty well all of it. Update: Underspending on special education accounts for much of the “surplus”.
Written By: - Date published: 9:30 am, August 28th, 2015 - 34 comments
Simon Louisson recently made a post about National’s profligacy, and all of the debt they have racked up. Guest poster Michael disagrees with Simon and says that “Yes, National was profligate.” and “No, National should not have balanced the books.”
Written By: - Date published: 7:15 am, August 26th, 2015 - 54 comments
John Key says New Zealand has options in the face of a share market meltdown and is not like Greece (well that’s a relief). Simon Louisson asks how real are John Key’s options? Thanks to this Government’s profligate past spending, including irresponsible tax cuts, our options have narrowed drastically.
Written By: - Date published: 12:20 pm, July 20th, 2015 - 62 comments
The Crown has reached an unfortunate milestone and national debt now exceeds $100 billion.
Written By: - Date published: 7:09 am, May 25th, 2015 - 75 comments
Extracts from Rod Oram’s piece in the SST as posted on Facebook. “What’s missing from [the budget], and the six before, is any glimpse of the world we live in, let alone the political leadership we need to survive and thrive in it.”
Written By: - Date published: 10:17 am, May 20th, 2015 - 15 comments
Bill English tells us that the promise that they won the election on – that they’re the only Masters of Finance who could balance the government books (because that’s all that’s important…) – now isn’t at all important to the public.
And Bill tells us: they’ll get their surplus when I give it to them, and they’ll be grateful for it.
Written By: - Date published: 4:50 pm, April 22nd, 2015 - 4 comments
Not satisfied with setting records for biggest deficit and largest total deficit over term, the Key government is now going for most deficits in a row. They now look to equal the National government’s 7 deficits from 1966-72. And this is the stuff they want to be judged on…
Written By: - Date published: 8:16 am, January 27th, 2015 - 248 comments
Greece has voted to reclaim its future from the banks.