economy
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Pre-budget reading
Written By: - Date published: 7:09 am, May 24th, 2012 - 3 comments
An excellent column from Bryan Gould, and a picture of working families in financial distress. Something to ponder, as we await the zero budget.
David Parker’s Greece-proof paper
Written By: - Date published: 5:05 pm, May 22nd, 2012 - 30 comments
Don’t blame Greece: if you change nothing, nothing changes. National’s problems are their own to solve, but they don’t have the guts to look at the big problems in New Zealand’s economy. 0.6% growth in total over the last 3 years – less than population. But National only tinkers and distracts, as our brightest and best head to Aussie.
Spin v reality
Written By: - Date published: 6:45 pm, May 21st, 2012 - 13 comments
National have become a very adept PR machine. While not adept at running the country, they’ve become great at running statistics. John Key was pushing things a little too far with his lines that unemployment rising to 6.7% showed an improved economy and that Europe electing anti-austerity leaders showed their austerity policies were right, but […]
One more promise I couldn’t keep
Written By: - Date published: 9:13 am, May 21st, 2012 - 14 comments
Last Budget, National promised 36,000 jobs in the year to March 2012. We got 20,000. They promised 1.8% growth. We got 1.1%. They promised a $9.8 billion deficit. Now, it’s heading for over $12 billion. Ready for a repeat on Thursday?. English will say last year’s failures were all someone else’s fault. Key will grin and make some weak jokes, the beakbenches will hoot and holler. But will anyone outside National be smiling this time round?
Mr Key’s remarkable lack of ambition
Written By: - Date published: 7:01 am, May 21st, 2012 - 59 comments
Remember ‘ambitious for New Zealand’? Remember ‘brighter future’? National used to at least say they wanted to do something significant. At what point did all that get replaced with ‘surplus by 2014/15’? Key and National have $70 billion a year to play with to better this country, and the best thing they can come up with is making sure government operating revenue exceeds operating spending by about half a percent in three years time.
Brighter future (still) just around the corner
Written By: - Date published: 8:22 am, May 15th, 2012 - 12 comments
Unemployment’s up, wages are flat, retail and export prices in freefall. Last budget National promised 4% this year – it’s 1%. But never fear, the brighter future is just around the corner – again. Key says growth will be strong in 2013/14 -2 years from now. Does anyone still believe him?
Rock and a hard place
Written By: - Date published: 11:49 am, May 11th, 2012 - 20 comments
We’re in a second mini-recession/stall since the Great Recession began in 2008. As in 2010, oil prices ramped up and growth petered out. Now, oil prices have dropped back a little. But the moment the economy shows mild signs of life, they’ll be back up again. Short periods of weak growth, oil price shocks, recessions – sounds like the cycle peak oil economists have predicted for years.
ImperatorFish: To Save We Must First Kill
Written By: - Date published: 1:19 pm, April 26th, 2012 - 40 comments
Scott at Imperator Fish has kindly given us permission to syndicate posts from his blog – the original of this post is here.
The United Kingdom is in recession again. Thanks austerity!
Economic genius
Written By: - Date published: 9:58 am, April 22nd, 2012 - 41 comments
Behold the economic genius of John Key.
A three-legged stool
Written By: - Date published: 10:34 am, April 10th, 2012 - 4 comments
Ruth Richardson has forced every subsequent policy to be sized up for ‘fiscal responsibility’. I’d like them to be sized up for ‘social responsibility’ and ‘environmental responsibility’ as well.
Both sides of Joyce’s dirty deal bad for NZ
Written By: - Date published: 4:50 pm, April 8th, 2012 - 89 comments
We know that giving SkyCity more pokie machines will mean more problem gamblers, more crime. The Right says it’s worth it for the convention centre. But the official numbers show that’s a dog and we would pay for it in the long-run. It’s not one side of this equation that is bad for New Zealand, it’s both.
Another “Zero budget”
Written By: - Date published: 9:34 am, April 6th, 2012 - 72 comments
Another “Zero budget” has been signaled. Some commentators think it’s a bold move. I beg to differ.
The lie of the “fiscally neutral” tax cuts
Written By: - Date published: 3:50 pm, April 4th, 2012 - 46 comments
The “fiscally neutral” tax cuts never were neutral at all, and a lower than expected tax take is hitting the government’s books. But Key is still out there repeating the lie.
Bernard Hickey – Ouch!
Written By: - Date published: 6:34 am, April 2nd, 2012 - 273 comments
Bernard Hickey has a great piece in the Herald on Sunday that you shouldn’t miss.
Meanwhile the economy…
Written By: - Date published: 10:54 am, March 23rd, 2012 - 15 comments
Plenty of high-profile bad news headlines for the Nats. At least it takes the focus of the boring old economy.
Farrar discovers peak oil, nearly
Written By: - Date published: 12:28 pm, March 20th, 2012 - 101 comments
Barack Obama will be breathing a sigh of relief after David Farrar endorsed his call to end oil subsidies. It seems the 3rd oil price spike in 5 years is getting the attention of even the Right. Something, they’ve got an inkling, is wrong and rising petrol prices are here to stay. Pity that, on the cusp of revelation, Farrar opts for the security blanket of neoclassical economics.
On those that need to work harder
Written By: - Date published: 10:06 am, March 15th, 2012 - 14 comments
Recently, an article appeared in the Wall Street Journal describing how CEOs around the world spend their time. The article drew on data from a larger study, the Executive Time Use Project . This project relied on reports of time use by CEO’s personal assistants; making it more accurate. It came across my usual reading and I thought I might share some of the findings with you.
Postcards from the “brighter” future
Written By: - Date published: 11:32 am, March 10th, 2012 - 24 comments
Hey John – where’s our “Brighter Future”? Hey National voters – was this what you voted for?
Excuses excuses
Written By: - Date published: 9:41 am, March 7th, 2012 - 32 comments
Tax revenue is down, blowing a big hole in all the government’s financial projections. The Nats are in trouble and instead of looking for solutions, they’re looking for excuses.
False economy
Written By: - Date published: 11:13 am, March 6th, 2012 - 16 comments
Nationals bungling on the economy continues to damage NZ. Even their misguided state sector job cuts have failed to make significant savings…
ImperatorFish: Closing The Incompetence Gap
Written By: - Date published: 3:40 pm, February 20th, 2012 - 3 comments
Scott at Imperator Fish has kindly given us permission to syndicate posts from his blog – the original of this post is here
Bollard says the NZ-Aus income gap may not be as large as suggested – but what about the incompetence gap?
IT isn’t free
Written By: - Date published: 9:45 am, February 17th, 2012 - 172 comments
The Nats want to replace public service jobs with computerised systems. They claim that this will improve service and save money. Quite apart from the folly of destroying jobs in the current economy, they are likely wrong on both those claims.
Political orthodoxy and economic reality
Written By: - Date published: 9:46 am, February 13th, 2012 - 68 comments
Capitalism is good. Globalisation is good. It’s political orthodoxy. But is it matched by economic reality? Perhaps not. Recent pieces by Bernard Hickey and Gordon Campbell give us plenty to think about…
A reply to Steven Joyce
Written By: - Date published: 8:00 am, February 9th, 2012 - 9 comments
Steven Joyce’s piece on Tuesday was a transparent and hypocritical attempt to frame political opponents negatively, and soften us up for more asset sales, mining, deep sea drilling and the like. Thing is, it’s the Nats with their misguided austerity cuts who are the real nay-sayers holding the country back.
Why bringing the bankers to heel is so important…
Written By: - Date published: 11:33 am, January 13th, 2012 - 88 comments
Ecological economist Brian Davey explains how while we need to fix the problems of peak oil and climate change, we’re not going to get anywhere until we deal with the psychopathic elite of bankers who have control of the world economy.
Still no plan
Written By: - Date published: 7:05 am, December 22nd, 2011 - 59 comments
“Once in office, you’ve got to do something. That is why having a plan matters.” – Simon Power, 2011, valedictory speech to parliament
Trickle down
Written By: - Date published: 8:19 am, December 19th, 2011 - 44 comments
Key: “Of course, if we could have lower personal taxes, we think that would stimulate the economy – but we just can’t afford it”. But, if tax cuts stimulate the economy, you could make them self-funding. The 2010 tax changes were meant to pay for their net cost with extra growth. Didn’t happen. They’ve cost $1.1b so far. Does Key still buy this trickle down garbage or not?
How we got where we are
Written By: - Date published: 7:35 am, November 24th, 2011 - 39 comments
Last election we had a choice between competent economic management and a bunch of hollow promises. We made a poor choice then, and the record shows that we have wasted three years as a result. Coming up to this election we don’t need more tired Nat excuses, we need solutions. Bring back Labour!
Nat asset sales lies
Written By: - Date published: 7:07 am, November 23rd, 2011 - 53 comments
Last night TV1 revealed National’s lies on the explosive topic of asset sales. The Nats have no official advice to back up their asset sales claims, and information is being withheld from the public. Not good enough – vote them out.
Five days to Save our Assets
Written By: - Date published: 6:42 am, November 21st, 2011 - 152 comments
Phil Goff said yesterday we had “Six days to save our assets” – now we have 5. Here’s what University of Auckland’s economics professor thinks about asset sales, and some more reasons why we desperately need to avoid a National-led government on November 27.
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