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notices and features - Date published:
5:30 pm, June 8th, 2022 - 21 comments
Categories: Daily review -
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The current rise of populism challenges the way we think about people’s relationship to the economy.We seem to be entering an era of populism, in which leadership in a democracy is based on preferences of the population which do not seem entirely rational nor serving their longer interests. ...
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maga fuckwittery from nact
https://twitter.com/marcdaalder/status/1534318409634172929
It may be rude to point out that New Zealand is generating more and more uneducated very poor children who will in time vote, but as we grow more unequal and underdereducated by the year it is also true.
You'd think we could weed them out of being in any decision-making role though.
Yep Nz's Dutton.
Pakistan moves to large load shedding as generation capacity goes off line due to shortages of LNG and coal.(moves government officials to not work saturdays)
https://twitter.com/SStapczynski/status/1533825192753242112
Japan asks for energy conservation due to high cost of imports (falling yen) and delays in returning nuclear fleet.
https://twitter.com/shoko_oda/status/1534086591719022594?cxt=HHwWhIDRoZLolcoqAAAA
Australia with high export demand for both LNG and Coal,faces large price increases as contracts renew,and also has 7 thermals offline due to breakdowns and maintenance,the Australian resource minister has asked companies to get coal station back on line asap as significant cold events hit east coast.
https://www.abc.net.au/news/2022-06-07/gas-crisis-fix-bring-coal-plants-online/101130832
European big 5 now spending more (as per gdp) on energy subsidy then defense.
Socialist Britain with 4.5% of gdp.
https://twitter.com/Tagliapietra_S/status/1532389231598895104?cxt=HHwWgICw8eP4kcQqAAAA
The cost of war is non linear.
That's not governments 'shielding citizens' at all. It is governments allowing oil companies to rort everyone else and paying out incredible amounts of their own people's wealth to already ludicrously wealthy entities.
It is a nasty cynical corrupt load of politicians who are afraid of reining in corporates (because they run America) that is to blame. Troughers and cowards.
There were two ways to constrain the price shock,let the full prices take hold,then there would have been significant cost destruction as consumers kept their wallets in their pockets (IEA suggested 3 mbbd for oil) ,significant conservation regimes ( as seen in Japan) or BAU with political intervention and subsidy.The subsidy regime in europe is very much funded on both VAT and excess profits from energy companies.
Great collection of factoids there Poisson.
Lest we forget the North Island blackout last year on the coldest night of the year, we are about to get several days of solid snow in Otago and Southland over the weekend.
Our own government has spent multiple billions shielding us from petrol and diesel price rises, further hundreds of millions on 'winter fuel subsidies', and IMHO likely to double down on it in the next budget.
See if you can put our own public expenditure on that graph.
First large cold event of the winter,( anomaly excursion of 3-5 c) coincides with preplanned maintenance for HVDC benmore to haywards (live wire work 13/6-17/6) in additional large hydro SI is also down with a NI generation shortfall next week and the following week.
https://www.transpower.co.nz/sites/default/files/interfaces/can/CAN%20NZGB%20Assessment%20for%20Potential%20Negative%20Generation%204343308381.pdf
We would be at the bottom of the graph with less then 1% of gdp.(fuel subsidy winter payment col allowance etc.)
Billions?
1.5 billion
including PT subsidy
Yep,just using treasury budget figures and including the 3 month cost of living subsidy for less then 70k earners.
The government borrowed 1.6% of gdp offshore for the covid response (wage subsidy etc) which is to be paid for going forward.
we are getting some distance from fuel subsidies however.
1.6% (5 billion) of GDP from offshore for covid…how do you arrive at that figure?
offshore portion of gvt bond purchases ( for additional spending)
The 3 month col allowance comes in when the fuel subsidy finish (and pt finishes for non CC holders)
My query was in relation to this statement…."Our own government has spent multiple billions shielding us from petrol and diesel price rises,"….my understanding is the fuel excise and RUC reductions will cost less than one billion (initial period was costed at 350 million)
Will also note the CRRF has to date been apportioned 70 billion…what proportion from offshore I have yet to determine.
Well the statement came from AK,so it pays to divide by a 1/2,then a 1/3.
With the duel subsidy you also say get demand destruction for fuel as people move to PT,and the large 4/4 stays in the drive.
There is already some demand destruction of fuel volumes (dec-mar)
A visual evidence thread of how inept Chrissie is in the house at Question Time, and how super competent our wonderful PM is.
Right whingers – watch and cringe!
https://twitter.com/NatlClownshow/status/1534444779857395713
The NZ First Foundation serious fraud office case has finally come to trial.
https://www.newshub.co.nz/home/politics/2022/06/new-zealand-first-foundation-case-trial-underway-against-two-accused-of-electoral-fraud.html
Pass the popcorn.
Seriously though, there is a very important set of principles about transparency around money in relation to political parties, at stake here.
I await, with fascination, the outcomes over the next weeks.
Old school skills still work.
https://twitter.com/AP/status/1534340180227805184?cxt=HHwWgMCy8feQicsqAAAA