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The Coming Global Economic Slowdown and New Zealand

Written By: - Date published: 8:45 am, June 3rd, 2019 - 49 comments

With the United States – China trade war well underway, the sick chaos of Brexit is shrinking the U.K. economy and slowing much of Europe’s economy, and smaller economies such as that of Mexico in the crosshairs through further politically manufactured trade disputes, the second half of this year looks for New Zealand nowhere near as rosy as the first half.

Labour to relax fiscal responsibility rules

Written By: - Date published: 9:00 am, May 24th, 2019 - 72 comments

Grant Robertson has announced there will be a relaxing of the fiscal responsibility rules, although not until after the next election.

Scrap the spending cap

Written By: - Date published: 8:45 am, July 23rd, 2018 - 152 comments

Economist Ganesh Nana and Alan Johnson from the Salvation Army have urged the Government to relax the fiscal straight jacket imposed by its budget responsibility rules.

Economy 2018

Written By: - Date published: 8:00 am, December 9th, 2017 - 31 comments

It’s that time of year where we start making predictions for 2018. I see it looking not too hot, not too cold.

TPP, Corporate Coup or “Free trade”?

Written By: - Date published: 9:07 pm, November 8th, 2017 - 99 comments

However. TPP ( The trans Pacific partnership) is NOT a “Free trade” agreement. It is an attempt to cement in corporate power, to override inconvenient  local Democracy, and collect rents from local communities in perpetuity.
Since when was giving large companies extra rights in law, and rights to extract even more economic rents, “Free trade”?

Debt to Income Loan Limits

Written By: - Date published: 7:56 am, June 15th, 2017 - 116 comments

this is not the hope you were looking for

The possible introduction of debt to income lending ratios will potentially have an enormous effect on New Zealand’s housing market.

Anzac Day

Written By: - Date published: 3:36 pm, April 26th, 2017 - 15 comments

Am I the only one who is upset, over mealy mouthed politicians making flowery speeches saying “We will remember them”

when they manifestly don’t.

Household debt

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.

Hickey on surpluses and Key’s bullshit

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.”

Trump and the NZ housing bubble

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.

Tax cuts hard to sell

Written By: - Date published: 8:32 am, October 19th, 2016 - 8 comments

Herald: “…the Government ought to be banking surpluses, just as Sir Michael Cullen did during the boom of 2000-2007”.

Hickey on debt

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.”

Interest free student loans – still safe for now?

Written By: - Date published: 10:05 am, August 18th, 2016 - 58 comments

A right wing “think-tank” wants to load students up with even more debt.

Labour on student debt – beware of clickbait headlines

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.

Financial capital is crazy OP. Time to strip it back to basics.

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.

We’re going to burn it all, until we burn it down.

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.

Trade deficit worst in seven years

Written By: - Date published: 11:49 am, April 28th, 2016 - 122 comments

Add it to our record debt, our record pollution, our record housing unaffordability, our rising inequality, our terrible carbon emissions…

A Song from John (All your questions answered)

Written By: - Date published: 3:18 pm, April 8th, 2016 - 4 comments

Okay. So rumoour has it that John was merely a co-writer.

Who is ultimately responsible for NZ’s massive dairy farm debt?

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.

Fonterra faces liquidity issues as rivers of “white oil” dry up

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.

the Global Death Economy

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.

National the party of economic lunacy

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!

So, how would you spend $1.2B per year?

Written By: - Date published: 3:23 pm, February 1st, 2016 - 84 comments

A Kiwi Kids allowance for all under fives, with totally fee free public primary and secondary schools.

Keep Calm and Carry On

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.

Why are we working so hard?

Written By: - Date published: 11:42 am, January 10th, 2016 - 46 comments

A recent New Matilda article discusses why at a time of increasing productivity the need to work has increased and not decreased.

The problem with free market capitalism

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.

Thanks Canterbury for the surplus

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”.

No, National shouldn’t have balanced the books.

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.”

In face of share market meltdown, Govt’s options limited

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.

National Debt cracks the ton

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.

Slash Greek debt now!

Written By: - Date published: 7:00 am, July 8th, 2015 - 222 comments

Europe must agree to slashing Greece’s debt so that economic growth can begin again. Germany should understand this better than most.

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