economy

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Westpac workers fed up with pushing debt

Written By: - Date published: 10:43 am, April 19th, 2013 - 34 comments

Bank profits are up again. A 10 per cent increase over the past three months it was announced yesterday. What we don’t often hear though is how this profit is generated. It basically goes like this. Bank staff are all under sales targets. They need to sell a certain level of debt to meet these […]

NZ Power

Written By: - Date published: 12:02 pm, April 18th, 2013 - 223 comments

At noon today Labour and the Greens jointly announced new energy policies. “NZ Power” is big and it’s bold. It will completely restructure the way the electricity sector is run, and result in lower power prices for both domestic and business consumers.

The view from Australia

Written By: - Date published: 9:16 am, April 17th, 2013 - 67 comments

Sometimes a certain distance gives the clearest view. A piece on PM John Key from Australian newspaper The Telegraph.

Rio Tinto ups the ante

Written By: - Date published: 10:02 am, April 2nd, 2013 - 166 comments

Our “let’s make a deal” PM is outclassed on this one. I actually have some sympathy this time, the government is between a rock and a hard place. But while most of us worry about Southland, I suspect the Nats’ concerns will be a little closer to home…

Dithering Nats

Written By: - Date published: 10:42 am, April 1st, 2013 - 49 comments

Changes to the tax rules that kick in today reverse two decisions made earlier by the government. Dither dither dither.

Tax cuts – because it worked so well last time

Written By: - Date published: 8:47 am, March 29th, 2013 - 190 comments

The ideological loonies advising the government want us to go even further down the stupid and damaging path of income tax cuts. Surely even the Nats have too much sense to listen this time.

The wage gap and the productivity lie

Written By: - Date published: 11:42 am, March 28th, 2013 - 23 comments

New figures show that the wage gap with Australia is still increasing. National has nothing to offer but useless policies and excuses, while the captains of industry trot out the old productivity lie again.

Lecture: Why Aristotle would own a surfboard

Written By: - Date published: 12:25 pm, March 27th, 2013 - 4 comments

Professor Christoph Schumacher will look at the question “Should we be aiming for continual economic growth within a finite environment?”

Date: Wednesday March 27, 2013
Time: 6.00-7.30pm (Lecture commences at 6.30pm)
Venue: Sir Neil Waters Lecture Theatres, Albany campus, Massey University

The Cyprus solution

Written By: - Date published: 9:48 am, March 26th, 2013 - 48 comments

The financial crisis in Cyprus has taken an unusual turn, and for a change it is the rich who will be left with the bill.

Mondayising win!

Written By: - Date published: 12:04 pm, March 12th, 2013 - 40 comments

The Bill to Mondayise holidays seems certain to progress. A nice win for David Clark and for Labour, and an all too rare example of MMP working as it should.

Sequester USA

Written By: - Date published: 8:35 am, March 3rd, 2013 - 35 comments

As the result of their political deadlock, automatic sequestration (budget cuts) have been triggered in America. This won’t end well for the economy – or the Republicans.

NRT: Climate change – Locked out

Written By: - Date published: 9:05 am, February 23rd, 2013 - 15 comments

I/S from No Right Turn describes another brick in National’s wall of stupid. “New Zealand will be locked out of the international carbon market in retaliation for our refusal to sign up for Kyoto’s Second Commitment period.”

What are they afraid of?

Written By: - Date published: 10:42 am, February 9th, 2013 - 68 comments

Once again Big Film threatens NZ to do as it’s told, or they will take their toys and go home. Specifically, they don’t want negotiation documents released under OIA. Makes one wonder just what is in these documents. What are they afraid of do you think?

Another one bites the dust

Written By: - Date published: 9:25 am, February 7th, 2013 - 109 comments

Another day, another company that couldn’t make it in National’s stagnant economy. But this company, Mainzeal, is a particularly significant case, our third largest construction company. There will be significant flow on effects to other parts of the sector.

Sunday Reading

Written By: - Date published: 11:12 am, February 3rd, 2013 - 5 comments

My regular Sunday piece of interesting, longer, deeper stories I found during the week. It’s also a chance for you to share what you found this week too. Those stimulating links you wanted to share, but just didn’t fit in anywhere.  This week: Economics, inequality, privacy-destroying drones and citizen responsibilities.

Where were you Granny?

Written By: - Date published: 10:21 am, February 1st, 2013 - 23 comments

Granny Herald: “Some policies aimed at quenching what politicians perceive to be a public appetite for fairness are recycled regularly even when they have been shown to be deeply flawed.” Discuss…

The fiscal hole

Written By: - Date published: 9:02 am, January 31st, 2013 - 47 comments

David Parker has drawn attention to a steadily growing $1 Billion hole in projected tax income. That gap, and the stalled economy which underlies the problem, are not going to be fixed by John Key acting like an angry chimp in parliament, flinging insults out of his cage.

EPMU: Manufacturing Strategy Needed

Written By: - Date published: 9:08 am, January 30th, 2013 - 14 comments

Because the EPMU put it so well – here’s the summary of their submission to the Manufacturing Inquiry.

NZ economic forecast “deteriorating”

Written By: - Date published: 9:18 am, January 23rd, 2013 - 51 comments

According to an international credit reporting agency our economic “risk profile” is “deteriorating”, due in part to rising unemployment. Good work National.

Market madness

Written By: - Date published: 9:02 am, January 17th, 2013 - 220 comments

Cat beats stockbrokers at playing the market. Bottom line, we are all at the mercy of a financial system that we don’t and probably can’t understand.

Where is National on house prices?

Written By: - Date published: 10:04 am, January 16th, 2013 - 41 comments

With a 10% increase in the median house price last year, we’re firmly back on a damaging house price binge. Labour has policies that address the issue. Where is National?

Asset sales referendum is a go!

Written By: - Date published: 8:32 am, January 4th, 2013 - 93 comments

The Asset Sales petition has the numbers for a referendum, but need to continue to collect signatures til the petition is submitted at the end of the month.  Well done! The evidence & the majority of New Zealanders do not support the sales. Keep campaigning!

The unreported & off the cliff

Written By: - Date published: 10:58 am, January 2nd, 2013 - 12 comments

Over the last year some issues have been under-reported, some ignored: the climate/environment, subversive FBI activities, bankster rorts, decline of democracy, the need for new left & green politics. Some news has been overdramatised, some masks the real needs.  And the “fiscal cliff”?

Selling NZ – in the news

Written By: - Date published: 8:05 am, December 29th, 2012 - 93 comments

There’s been a couple of stories in the news over the last 24 hours that could do with some scrutiny: Treasury warns of asset sales over-load; potential sale of Oceania Dairy to an overseas company to set up a milk factory in NZ.

From me culture to we culture

Written By: - Date published: 10:30 am, December 27th, 2012 - 49 comments

Today Al Jazeera News reported on the rise of collaborative consumption in Europe; from rent-a-present to car sharing.  Just an extension of Trade Me or something bigger?  How can sustainable practices of collaborative production, consumption and living be developed in NZ? [AJ Link added]

2012: “celebrity” PM – collective action

Written By: - Date published: 10:00 am, December 23rd, 2012 - 47 comments

Individualism & “celebrity” PM, John Key were still strong in 2012.  But, there was opposition from some (often local) groups working collaboratively:  Occupy, Glen Innes protesters, MUNZ, Asset Sales referendum, AAAP advocacy activism, manufacturing inquiry, NZLP democratisation, TS nest of vipers. And 2013?

I wish it could be Xmas every day…

Written By: - Date published: 11:10 am, December 21st, 2012 - 27 comments

… then maybe more attention would be given to increasing numbers of people struggling to get the necessities of life. Record queues outside Auckland’s City Mission. The Brighter Future never comes. Revisit The Spirit Level.

Turei: Green Party retrospective

Written By: - Date published: 11:26 am, December 19th, 2012 - 44 comments

Green Party co-leader, Metiria Turei, was confident and clear on TV3, talking about their consistent, disciplined & successful year &: the RONS tax, MP pay rise, government’s poor record, the economy, printing money, jobs, equality issues and child poverty.  Little on green issues. Zero on the climate.  [Update] Turei RNZ interviews.

2 storms and a rocket

Written By: - Date published: 10:30 am, December 14th, 2012 - 42 comments

With the GFC, changing climate and resource depletion, the struggles of the powerless get over-looked.  Asia-Pacific has been described as the focal point of a new cold war. Storms in Samoa and the Philippines, a rocket launch from North Korea. How should we respond?

Make a submission to the manufacturing inquiry – today!

Written By: - Date published: 1:22 pm, November 30th, 2012 - 28 comments

Over the past four years 40,000 manufacturing jobs have been lost (and over a thousand manufacturing companies have shut up shop). The government is in full denial, so the opposition parties have set up their own inquiry. Today is the last day for submissions.

NRT: Taking on our local tax cheats

Written By: - Date published: 10:37 am, November 30th, 2012 - 26 comments

I/S at No Right Turn asks why the government is letting rich multinational companies get away with exploiting tax loopholes.  Here’s an idea – close the loopholes and spend the revenue on schools.