Written By: - Date published: 9:00 am, March 14th, 2018 - 32 comments
A more productive economy – and society – has been an elusive goal for many of New Zealand’s previous governments. The last National Government failed. What will Labour do to succeed?
Written By: - Date published: 9:00 am, March 8th, 2018 - 128 comments
Amy Adams won’t commit to $11.7b, but she too has now become the third person to fall down the imaginary fiscal hole. How can National claim to have any soundness on finance if they won’t admit their criticisms on the economy are unreasonable and unfounded? And besides, aren’t National actually worse fiscal managers if ordinary people tend to get paid less under their regimes? We dive into some theory to thoroughly dispute even Steven Joyce’s/Amy Adam’s secondary criticism of “fiscal tightness,” although concede that two of the Budget Responsibility rules are probably stupid in order to do it.
Written By: - Date published: 1:20 pm, March 7th, 2018 - 32 comments
Don’t hold your breath for recommendations of radical tax reform from the Tax Working Group. Chair Sir Michael Cullen says the 2020 election will be a referendum on tax and he is already kicking for touch
Written By: - Date published: 10:08 pm, February 20th, 2018 - 11 comments
The Lord Mayor of the City of London is visiting New Zealand. Its not Sadiq Khan, Charles Bowman is a PwC partner leading London’s financial centre lobby. He’s here to talk to business and regulators. He’ll no doubt be talking up more deregulation.
Written By: - Date published: 9:05 am, February 15th, 2018 - 63 comments
Recent volatility in the U.S. stockmarkets has attracted calls that capitalism is facing a crisis. But the reality appears to be different.
Written By: - Date published: 4:34 pm, February 14th, 2018 - 123 comments
Fletcher announces more huge losses but directors still laughing all the way to the bank
Written By: - Date published: 6:10 pm, February 9th, 2018 - 109 comments
New Zealanders 17 years ago accepted the idea of a national dairy monopoly on the condition it would deliver outstanding returns. The cost has been high — filthy and unswimmable rivers. Now it turns out the result has been a financial fiasco – the whole thing is literally bullshit, or more correctly, cowshit.
Written By: - Date published: 9:07 pm, November 8th, 2017 - 99 comments
Written By: - Date published: 5:46 pm, October 9th, 2017 - 56 comments
Policy is everything, Winston Peters said today. This should not be a surprise. Before every election, he has refused to give any hint of Party support preference until after the vote. But he will have thought a lot about what he might want, as it has long been clear that his Party would decide the outcome. So what are his policies?
Written By: - Date published: 3:39 pm, August 17th, 2017 - 48 comments
With the current dialog about welfare, It is time to look at the people who are the real beneficiaries, of the welfare system.
Who use the educated and healthy workforce our system provides
The people who say “everyone should stand on their own two feet”, “you don’t work you don’t eat”, and “take personal responsibility”,
The business sector.
Written By: - Date published: 8:23 am, April 5th, 2017 - 15 comments
Because of our our central government’s refusal to build social housing and both NZTA and AT rigorously avoiding urban development integration, the default control of housing supply lies with Australian regulation of New Zealand’s retail banks and their lending.
Written By: - Date published: 8:37 am, November 2nd, 2016 - 31 comments
Kiwibank is selling 47% of its shareholding to the New Zealand Super Fund and to the Accident Compensation Corporation. The Government gets a cheque for $200 million which will improve the appearance of its books. Financial sleight of hand?
Written By: - Date published: 8:00 am, October 18th, 2016 - 58 comments
The media last week reported extensively an operating surplus of $1.8 billion dollars. But they missed the not so good news that the value of ACC’s assets took a $5.1 billion hit, the Super Fund lost $2 billion, the Crown’s liability under the ETS increased by $1.5 billion and net Crown debt increased by $1.3 billion.
Written By: - Date published: 8:00 am, August 11th, 2016 - 68 comments
Eight years after the Global Financial Crisis the major western economies are stagnant. Is this the new norm?
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: 12:21 pm, July 15th, 2016 - 23 comments
The fiction that National is doing a competent job of managing the economy is entirely due, now that the boom from Dairy and Christchurch rebuilding is ending, to immigration and rising house prices.
They are now riding a bolting horse that they cannot dismount, caused by their own inaction.
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: 1:09 pm, April 3rd, 2016 - 13 comments
The west continues to hold a lock on global wealth. Africa and India remain desperately poor. China has built a burgeoning working class and middle class.
Written By: - Date published: 11:03 am, March 29th, 2016 - 35 comments
So, Key has now come out and revealed to us how afraid the global oligarch class (and their well paid professional enablers) are. They appear to have no plans to reverse their activites to make things better for us.
Written By: - Date published: 8:25 am, March 13th, 2016 - 136 comments
It seems that “serious economists” are discussing something called “helicopter money”. Would it fly in NZ?
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: 3:06 pm, March 10th, 2016 - 49 comments
Simon Louisson on the Reserve Bank’s surprise announcement to reduce the official cash rate by 25 points.
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: 6:52 am, January 29th, 2016 - 71 comments
Is Reserve Bank Governor Graeme Wheeler so concerned about the bogey of Auckland’s housing bubble that he is underestimating an equally nasty bogey – deflation? Deflation will certainly cure the problem of the property bubble, but that cure will be at a terrible cost.
Written By: - Date published: 7:00 am, January 27th, 2016 - 76 comments
How many more lies will John Key tell today in his so-called State of the Nation address? Virtual chocolate fish to whomever guesses the closest number.
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.