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Daily Review 15/11/2016

Written By: - Date published: 5:32 pm, November 15th, 2016 - 61 comments
Categories: Daily review - Tags:

Obama Trump

Daily review is also your post.

This provides Standardistas the opportunity to review events of the day.

The usual rules of good behaviour apply (see the Policy).

Don’t forget to be kind to each other …

61 comments on “Daily Review 15/11/2016”

  1. Draco T Bastard 1

    @McFlock
    Put this here because it was OT in thread.

    For example, I tend to suspect (I’m not sure, it just seems reasonable on the face of it) that supply of money has some input as to its value, for which some social credit type folks have suggested I’m basically following rogernomics, and we can print as much cash as we want (billions) with no impact on the exchange rate or inflation.

    It’s not just creation money though – you have to include it’s destruction. The cycle should go:

    Government >> economy >> government

    The money’s return to government is actually it’s destruction. Under those conditions then inflation can be minimal.

    As for the exchange value – that needs to be set by a formula (essentially imports/exports) rather than the wishful thinking of the speculators.

    • weka 1.1

      How is money going back to the government destruction?

      • Draco T Bastard 1.1.1

        Because when it’s returned to the government it’s matched against previous spending.

        Spend into the economy (+1)
        Return to government (-1)
        total = 0

        The government should actually run at a slight deficit to match population growth and the easy way to do that is a UBI.

        • pat 1.1.1.1

          spend into the economy(+1)
          return to government (-1)
          tax rate 100%
          spend available for provision 0
          output 0
          savings 0
          confidence 0

          exchange rate …..won’t matter as it won’t be wanted (or needed)

          • Draco T Bastard 1.1.1.1.1

            Completely wrong.

            Spend available for provision of government services is the amount needed to provide those services – no more, no less.
            This spending then gets spent into the private sector causing multiplier effect (usually around 3 times).
            Overall tax @ 33% to have return to government balance.

            It would be government spending, including the UBI, that provides the entire money supply for the economy to work. This:

            1. Removes poverty
            2. Eliminates the business cycle
            3. and removes the need for infinite exponential growth on a finite world.

            • pat 1.1.1.1.1.1

              lol….so zero imports and zero savings …thats a realistic model…not

              • Draco T Bastard

                Why would there be zero imports/exports?

                And we don’t need savings. In fact, savings seem to be a large part of the problem with our present financial system.

                That said, there’s nothing stopping people from putting money in the bank. They just won’t get any interest on it.

                • pat

                  why?…because you claim a tax rate of 33% and a multiplier of 3 …that requires a zero savings and import rate

                  and we don’t need savings? would love to hear your explanation of how anyone is going to purchase anything that costs more than say a weeks “wages”( while eating and being housed)…and that also suggests all ownership will have be by the state for there will be no ability for private investment…and placing it in a bank (even at zero interest) still removes it from circulation and negatively impacts ME

                  but the best of all is how you propose to administer the inevitable demand for more. and the inflationary spiral that creates.?..even in a totally closed economy which while possible is extremely unlikely

                  • Draco T Bastard

                    why?…because you claim a tax rate of 33% and a multiplier of 3 …that requires a zero savings and import rate

                    You said that when you claimed it was 100% tax rate. Now that you’re informed that it’s actually 33% you’re saying the same thing.

                    Your maths is wrong.

                    $1 is spent into the economy
                    This produces $1 of economic value
                    $0.33 is taxed back out from that $1

                    Leaving $0.67 in the economy which goes round again to be taxed again

                    Meanwhile, the government has spent more into the economy

                    You need to think of the economy as a constant flow.

                    Money in >> stuff happens >> Money out >> Money in

                    It’s not Money in >> Money out and that’s it, nobodies got any money and nothing happened as you seem to think.

                    and we don’t need savings?

                    No we don’t. Savings aren’t needed to buy cars. It’s supposedly needed to make investments but it’s not needed for that either.

                    And, of course, people would still be able to put money aside to buy larger stuff.

                    but the best of all is how you propose to administer the inevitable demand for more.

                    And how did I propose to do that?

                    and the inflationary spiral that creates.?

                    There’s no inflationary spiral as the money is balanced. Unlike now where the money into the system isn’t balanced resulting in high house price inflation.

                    • pat

                      “You said that when you claimed it was 100% tax rate. Now that you’re informed that it’s actually 33% you’re saying the same thing.

                      Your maths is wrong.”

                      lol. nothing wrong with my basic arithmetic but does appear to be something wrong with your understanding of the multiplier effect which you cited..

                      .ME ratio= 1/ propensity to save, propensity to tax and propensity to import

                      so your example 3 = 1/ 0 + 0 .33 + 0 …. change any factor (imports or savings i.e.) and your multiplier will change.

                      will return to your other misconceptions when I have some time

                    • Draco T Bastard

                      your understanding of the multiplier effect which you cited..

                      Possible. The multiplier effect won’t be the same in a Sovereign Money financial system as in the current system.

                      I’m thinking that it would be more of a measure of how many transactions money will go through before it’s fully returned/destroyed. I was making an assumption, based upon the present multiplier usually being ~3, that it would be about the same.

                      Thinking about it some more that assumption is most likely low which means that the overall tax rate would be lower. Would probably need a FTT.

                    • pat

                      “No we don’t. Savings aren’t needed to buy cars. It’s supposedly needed to make investments but it’s not needed for that either.”

                      Didn’t mention cars, but if you maintain savings are not needed (though you then contradict yourself by stating monies can be put aside for larger stuff….otherwise known as savings) one can only assume that either the government will lend or gift monies for large purchases or that money itself will cease to be.

                      “And how did I propose to do that?”

                      you haven’t ….and that is the point.You have ignored the increasing demand by a society that only has to bring political pressure to obtain more or the same for less, how does your model propose to deal with that? This speaks to the inflationary spiral that would be created.

                      If what you have outlined here is a genuine model then you should at least be up front and admit the only way it would have a chance of successfully operate (at least briefly) would mean the end of private ownership, a completely closed economy that is likely to become increasingly unsophistocated and a totalitarian state that is mandated by the majority with no protection for dissenters….think we’ve seen where that leads..

        • McFlock 1.1.1.2

          So basically, you’re borrowing against the government’s income next year, as opposed to the government’s income this year. And if the money back doesn’t meet the money you’d spent, it’s inflationary.

          How is that different from the standard bonds the reserve bank lends to banks? I can see why “lending” it to central government for infrastructure development rather than just to inflate the banking sector, but what you describe still requires conventional, basic budgeting, not a currently untapped source of revenue.

          • Draco T Bastard 1.1.1.2.1

            So basically, you’re borrowing against the government’s income next year

            Nope.

            Government creates the money
            Spends it into the economy
            Taxes money back out of the economy (destroys money)

            No borrowing at all.

            The economy is a continuous cycle.

            And if the money back doesn’t meet the money you’d spent, it’s inflationary.

            Nope. Growing economy requires a growing volume of money. Of course, sovereign money can also be used to turn the economy into a Stable State Economy.

            How is that different from the standard bonds the reserve bank lends to banks?

            These would no longer exist. Banks would not be able to borrow from the RBNZ.
            Also, the government borrowing from the private sector would also not exist.

            but what you describe still requires conventional, basic budgeting, not a currently untapped source of revenue.

            I never called it income because it’s not income.

            It’s the base driver of the economy.

            • McFlock 1.1.1.2.1.1

              But you said that to maintain the overall level at zero change (to avoid inflation), the government had to “destroy” a dollar for every dollar it created.

              The money only does any good if the government spends it, gives it to other people. Pays a UBI, pays road workers, whatever.

              To get it back to destroy it, the government needs to levy a tax or gain profit from a transaction.

              You’re plugging extra money into the economy this year, but you need to avoid creating inflation by taking back a matching amount of money in taxes.

              Let’s say you have annual tax revenue of 100bil in a country with a gdp of 300bil. You want to buy everyone a UBIferrari, at an additional cost of 40bil, so you print the required cash. Next year you need to raise $140bil in taxes and destroy 40bil of it, and your gdp is 340bil, so you’ve got ~12% increase in gdp and cash supply while the invented cash is still in the economy.

              So you’re still left with government expenditure cuts or tax increases to maintain the monetary balance.

              • Draco T Bastard

                You want to buy everyone a UBIferrari, at an additional cost of 40bil, so you print the required cash.

                But the government doesn’t buy everyone a Ferrari now does it? Really, why would you come up with such a stupid example?

                What it does is spend money to provide government services (Police, justice, etc). and the UBI. These people now have money which they want to spend. They spend it into the private sector.

                As the money moves through the economy it’s taxed in various ways (returned to government). These taxes result in the money being destroyed.

                So you’re still left with government expenditure cuts or tax increases to maintain the monetary balance.

                Which bit about the government spending being balanced by taxes didn’t you understand?

                And, no, you wouldn’t have to cut government services – ever. In fact, doing so would probably cause a recession because the money that the government is spending is the full and total supply of money for the economy.

                I really can’t make it any simpler.

                Government creates money
                Government spends money into the economy via government services
                Government taxes money back out of the economy destroying the money

                • Clump_AKA Sam

                  It’s not necessarily to finance government spending but it is necessary to keep money circulating, other wise it goes stagnant and festers in speculative property prices.

                  If Graham Hart spent the amount of money McFlock suggests in what’s called the permanent money hypotheses Graham would explode in 20 secounds because of the heat generated from spending, so Graham simply can’t spend that amount of money, the role of taxation is to put it back into the hands of those who will spend.

                  Later curve: http://www.investopedia.com/terms/l/laffercurve.asp

                  Permanent money hypotheses: http://www.investopedia.com/terms/p/permanent-income-hypothesis.asp

                  • Draco T Bastard

                    It’s not necessarily to finance government spending but it is necessary to keep money circulating, other wise it goes stagnant and festers in speculative property prices.

                    Taxes?

                    • Clump_AKA Sam

                      Or stimulus from deficit spending, or even cutting corporate taxes can cause inflation, (at the risk of receiving a ban for mentioning Trumps name) Trumpism, there are so many ways to boost demand, my point is if MrFlock would try google first he wouldn’t come across as such an asshole

                • McFlock

                  I chose an absurd example (actually “UBIferrari”) because the what is irrelevant to the discussion: it could be a UBI, earthquake repairs, or a moonbase.

                  The fact is that you’re still tying government expenditure to government income. In a particularly inefficient way. Because, like most economic theories, your model is to simplistic.

                  You want to spend money now in order to tax it back later. But rather than doing it with bonds (and addidng a “debt servicing” line item to the annual budget that’s a small proportion of what you actually borrowed), by flooding the economy in new money you necessitate getting it back as soon as possible. The end sum might be zero, but in my example you’ve still increased the money supply by 40bil until you’ve taxed it back. And artificial boom/bust cycle.

                  And how would you tax it back – monthly or quarterly variations in PAYE? How would that effect folks’ wallets? Or annually bounce the tax rate 15% up or down depending on what you want to build this year? you reckon that’s electorally sustainable? Again, for simply the same result: government expenditure that’s constrained by government income.

                  • Clump_AKA Sam

                    Read the theory again

                  • Draco T Bastard

                    You want to spend money now in order to tax it back later.

                    We’re not starting at zero. We already have the government taxing and spending.

                    But rather than doing it with bonds (and addidng a “debt servicing” line item to the annual budget that’s a small proportion of what you actually borrowed)

                    The government shouldn’t borrow money – ever. It has no need to as it can create money and not have interest charged on it. Just so long as it then destroys that money through taxation.

                    Why do people insist that the government has to pay interest on money?

                    The end sum might be zero, but in my example you’ve still increased the money supply by 40bil until you’ve taxed it back. And artificial boom/bust cycle.

                    And that is why your thinking fails. You think that the economy is static rather than a continuous flow.

                    Again, for simply the same result: government expenditure that’s constrained by government income.

                    Can you point me to where I said it would be otherwise?

                    What I said is that government spending through government services and the UBI should be the total money available to the economy. That this would stabilise the economy eliminating the ‘business cycle’ and poverty.

                    • McFlock

                      I don’t believe the economy is either static or a continuous flow.
                      I think there are lag times and elastic relationships throughout the economy, and my concern with your plan is that it causes a surge throughout the system, followed by a corresponding low pressure zone. And that causes more stress to individuals in the system, breaking some of them.

                      Whereas conventional tax/borrow and spend government policies don’t have that lag period where there’s a sudden boost in money supply on top of everything else.

                    • Draco T Bastard

                      and my concern with your plan is that it causes a surge throughout the system, followed by a corresponding low pressure zone

                      But it doesn’t and that thinking is that of a static model.

                      Whereas conventional tax/borrow and spend government policies don’t have that lag period where there’s a sudden boost in money supply on top of everything else.

                      The sudden boost in money supply that we’re seeing now is from the private banks creating huge amounts of money in lending for houses and offshore buyers of our housing.

                    • McFlock

                      Well, perhaps there is some niche economic definition of “static” – but I meant it in the conventional meaning of lacking in movement, action or change. Which is impossible in a system that has pressure waves, which by definition are change. But either way, simply saying that the model is “widget” doesn’t mean it’s wrong.

                      How does one create cash and avoid inflation in the period between when government pays the people and when it taxes that amount back off them?

                      The current boost in money supply is intentional policy by the reserve bank which is using a blunt tool to face a complex problem: a largely stagnant economy with one single sector that’s massively overinflated in price due to long term supply shortfalls.

                      That is a separate issue to whether your concept of printing (then destroying) money adds any advantage over the current conventions of managing government accounts.

                    • Clump_AKA Sam

                      Bruh. Economics is uncertain

                    • Draco T Bastard

                      How does one create cash and avoid inflation in the period between when government pays the people and when it taxes that amount back off them?

                      See, you’re thinking that one thing happens and then the next thing happens at a later time when both will be happening simultaneously. The former is static model thinking.

                      The current boost in money supply is intentional policy by the reserve bank which is using a blunt tool to face a complex problem:

                      Actually, it’s been the intentional policy of the government for the last ~30 years who legislated what the RBNZ was going to do, gave it the tools to do that and removed capital movement restrictions.

                      That is a separate issue to whether your concept of printing (then destroying) money adds any advantage over the current conventions of managing government accounts.

                      Actually, it gives advantage to the entire economy and not just the governments books:

                      1. By removing the private banks ability to create money it stabilises the economy from that direction. No more banks creating huge amounts and then panicking and stopping creating any thus throwing the country into recession/depression
                      2. They’ll be no need to borrow offshore to utilise our own resources as they’ll be plenty of money available
                      3. By ensuring that there is a constant influx of money into the system via the UBI ensures that there will always be a demand for businesses to supply
                      4. The UBI will ensure that everyone who wants to will be able to get a good education
                      5. The UBI will allow people to be entrepreneurial by ensuring that they don’t drop into poverty if their idea fails
                      6. The removal of interest bearing debt from government removes the need for continued growth

                    • McFlock

                      See, you’re thinking that one thing happens and then the next thing happens at a later time when both will be happening simultaneously. The former is static model thinking.

                      It seems to me that you’re trying to have it both ways: you said “As the money moves through the economy it’s taxed in various ways (returned to government). “. That means there’s a lag between when the money is distributed and when the same amount of money is finally returned via taxes. If there’s a lag then there’s a period of substantially increased money supply. If there’s no lag, then you’re not “creating” money, you’re simply transferring tax revenue into expenditure in exactly the same way it’s currently done.

                      Actually, it [“printing (then destroying) money”-mcf] gives advantage to the entire economy and not just the governments books:

                      1. By removing the private banks ability to create money it stabilises the economy from that direction. No more banks creating huge amounts and then panicking and stopping creating any thus throwing the country into recession/depression

                      Yes and no. It bypasses the fractional reserve system (which is merely a multiplier of the OCR tool, not an integral part), but that doesn’t mean that the banks will contribute any less to boom and bust speculative cycles.

                      2. They’ll be no need to borrow offshore to utilise our own resources as they’ll be plenty of money available

                      Borrowing, either directly or by simply printing cash and borrowing that off future taxpayers, is a sign of insufficient taxation right now.

                      3. By ensuring that there is a constant influx of money into the system via the UBI ensures that there will always be a demand for businesses to supply

                      That is a benefit of a UBI in particular, but yes does apply to other government expenditure if it’s done wisely. IMO most importantly the government expenditure needs to go into the regions so it can flow back into the urban centres then the corporates, rather than just swilling around a few key CBDs.

                      4. The UBI will ensure that everyone who wants to will be able to get a good education

                      Nah. That’s what the education system is for.

                      5. The UBI will allow people to be entrepreneurial by ensuring that they don’t drop into poverty if their idea fails

                      Fair enough, but this isn’t about the benefits of a UBI, it’s about how some UBI proponents intend to pay for it.

                      6. The removal of interest bearing debt from government removes the need for continued growth

                      but printing money simply substitutes interest payments for boosts to inflation. Growth is therefore still necessary.

                    • Draco T Bastard

                      That means there’s a lag between when the money is distributed and when the same amount of money is finally returned via taxes. If there’s a lag then there’s a period of substantially increased money supply.

                      Nope because the taxes would go up at the same time that spending goes up. If spending doesn’t go up then taxes don’t go up.

                      And we’re not starting at a zero point. We already have a monetary flow. There’d be a transition period when inflation may be a little higher than normal but I doubt if it would last long.

                      It bypasses the fractional reserve system (which is merely a multiplier of the OCR tool, not an integral part), but that doesn’t mean that the banks will contribute any less to boom and bust speculative cycles.

                      Yeah, actually, it does:
                      1. The banks will no longer be able to leverage minimal funds into massive loans. They’re strictly limited to what they have on deposit for on-lending and the people who so deposited it won’t be able to spend it either thus removing that piece of leveraging as well
                      2. If a few people lose their money from speculation so what? The constant flow of money from the government will ensure that loss with have minimal feed on effects. Mostly, the banks won’t suddenly stop creating money and throwing us all into recession as happened in the GFC

                      Borrowing, either directly or by simply printing cash and borrowing that off future taxpayers

                      Creating money which is then spent directly into the economy producing economic activity now is not borrowing.

                      Nah. That’s what the education system is for

                      People need to be able to afford to go and get that education and that’s what the UBI will do.

                      but printing money simply substitutes interest payments for boosts to inflation.

                      But creating money doesn’t automatically translate into inflation – as the vast printing of money around the world after the GFC proved.

                    • McFlock

                      Nope because the taxes would go up at the same time that spending goes up. If spending doesn’t go up then taxes don’t go up.

                      So how does that differ with what blinglish currently does every year?

                      And we’re not starting at a zero point. We already have a monetary flow. There’d be a transition period when inflation may be a little higher than normal but I doubt if it would last long.

                      Ok, so there will be inflation, now we’re just quibbling over how large and sustained it will be.

                      It bypasses the fractional reserve system (which is merely a multiplier of the OCR tool, not an integral part), but that doesn’t mean that the banks will contribute any less to boom and bust speculative cycles.

                      Yeah, actually, it does:
                      1. The banks will no longer be able to leverage minimal funds into massive loans. They’re strictly limited to what they have on deposit for on-lending and the people who so deposited it won’t be able to spend it either thus removing that piece of leveraging as well
                      2. If a few people lose their money from speculation so what? The constant flow of money from the government will ensure that loss with have minimal feed on effects. Mostly, the banks won’t suddenly stop creating money and throwing us all into recession as happened in the GFC

                      It wasn’t the creation of money that created the GFC, it was the outright frauds that were committed with that money, that then made the banks terrified of lending money to each other in order to settle daily debts and tallies. They created a pyramid of bad loan packages, then as soon as the music stopped playing all the bankers dropped those hot potatoes so they wouldn’t get caught with their pants down (abuse of allegorical language intentional 🙂 ).

                      Creating money which is then spent directly into the economy producing economic activity now is not borrowing.

                      It is if taxpayers have to make it up, even in the near-immediate future.

                      but printing money simply substitutes interest payments for boosts to inflation.

                      But creating money doesn’t automatically translate into inflation – as the vast printing of money around the world after the GFC proved.

                      Well, yes it does. That’s why they did it: boost GDP with the corresponding effect on inflation. Because they were at extreme risk of deflation and depression.

                    • Clump_AKA Sam

                      Maybe if we take a step back because interest rates set the rate at which you can borrow from the reserve bank but they are apart of the cost when settling transactions between different banks, and banks hang on to reserve in case the housing sector has a massive run on for cash, and they never pass on full rate cuts. But if you take interest away banks themselves still have guides to take on crises, and that’s just in case there’s a fiscal demand for cash.

                    • Draco T Bastard

                      So how does that differ with what blinglish currently does every year?

                      The current system actually borrows the money at interest. The government borrows from private banks which create the money at the time. The addition of interest means that it can never be fully paid back which means we have an expanding monetary base.

                      Never mind the fact that the private banks also create money when they make a loan to private individuals as well.

                      Sovereign Money gets rid of that. It has the continuous creation and destruction of money needed to keep the economy moving but it doesn’t have the interest component that forces growth. A stable state economy would work.

                      They created a pyramid of bad loan packages, then as soon as the music stopped playing all the bankers dropped those hot potatoes so they wouldn’t get caught with their pants down (abuse of allegorical language intentional 🙂 ).

                      The entire banking sector is a Ponzi Scheme – see above – which is why it fell over.

                      Well, yes it does. That’s why they did it: boost GDP with the corresponding effect on inflation. Because they were at extreme risk of deflation and depression.

                      No it doesn’t.

                      Yes, that is one of the reasons why they printed so much money but the inflation didn’t actually eventuate. The other reason, and probably the main one, that they printed so much was to prop up the banks. If the Ponzi Scheme that the private banks run collapsed the way it should have then, yes, we would have been in a depression.

                      Of course, the best thing that they could have done to prevent a depression is implement a UBI and let the banks collapse. Instead they gave it all to the banks which then kept it instead of loaning it out for productive activity.

                      A UBI would have prevented a recession, kept local businesses going and allowed the market to correct for the banks fraudulent activities.

                    • McFlock

                      The addition of interest means that it can never be fully paid back which means we have an expanding monetary base.

                      Bullshit. Of course it can be paid off, with interest.

                      And the “sovereign debt” equivalent of interest is the systemic costs of the inflation it creates, even temporarily.

                      Yes, that is one of the reasons why they printed so much money but the inflation didn’t actually eventuate.

                      or it did eventuate and without it the world would have gone into a deflationary spiral.

                      The other reason, and probably the main one, that they printed so much was to prop up the banks. If the Ponzi Scheme that the private banks run collapsed the way it should have then, yes, we would have been in a depression.

                      agreed.

                      Of course, the best thing that they could have done to prevent a depression is implement a UBI and let the banks collapse. Instead they gave it all to the banks which then kept it instead of loaning it out for productive activity.

                      Nah. The best thing they could have done was buy all the bad loans at crap market rates and renegotiate sustainable repayment terms for the borrowers, thereby starting one of the biggest state housing programmes in decades if not history.

    • ropata 1.2

      Profit gouging (especially by multinationals, e.g. bank interest) is also destruction of money, if there’s a weak tax regime (or tax haven) and no reciprocal investment back into NZ

      Similarly, GST & income tax is a highly regressive drag on the economy and devalues the work of the many, whereas the top few % rich in assets pay relatively no tax. In fact, because of the property bubble there are thousands of lucky/privileged/entitled Aucklanders whose net tax is probably less than zero.

      On Planet Key, the wealthy pay no tax, and the poor get taxed on all income over $1

  2. Muttonbird 2

    On Planet Key a severely unstable man is stopped by police after stalking a couple armed with a knife. They let him go to kill the very next day.

    http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11748624

    On the same Planet Key a journalist has his home ransacked by police after highlighting government corruption.

    • BM 2.1

      More public service incompetence, the sooner we privatize everything, the better.

      • Muttonbird 2.1.1

        Blame the workers. First port of call when something goes wrong.

        • Gangnam Style 2.1.1.1

          Same with privatisation, offset the blame, a whole bunch of people with their hands in the air singing ‘It wasn’t me’ til you get to the poor shmo on minimum wage at the bottom of the ladder ‘It’s all his fault!’.

      • Draco T Bastard 2.1.2

        He says after fight clubs and death have been found in privatised prisons – due to the lack of standards in the privatised prisons.

      • adam 2.1.3

        Predictable response, sad, but predictable…

        More of this national government and there worshipers failing to take any responsibility for anything the have wreaked over the last 8 years of office.

      • ropata 2.1.4

        Nothing to do with chronic lack of resourcing in Police and cutting mental health services so that Bill English can put some nice numbers in a fucking spreadsheet…

  3. Muttonbird 3

    If you are brave enough, this is Watkins’ fluff piece on Key. No analysis of the situation, just a gentle combing of John Key’s hair.

    http://www.stuff.co.nz/national/politics/86503566/a-warning-to-expect-the-worst

  4. Muttonbird 4

    Then, if you really want to be sick in your mouth, watch this pan and scan drivel to dramatic orchestral music from the Horrid.

    http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11748647

    This is awful broadcasting. And this is what the Horrid want to do with the NZOA funding changes. They want to contest for public funding to produce this kind of crap.

  5. Anne 5

    Brave enough to tell the truth. Good on you Jeremy Corbyn.

    http://www.independent.co.uk/news/uk/politics/donald-trump-lastest-news-jeremy-corbyn-grow-up-us-immigration-mexico-andrew-marr-a7414576.html

    There’s no dedicated post today so put it here.

  6. ianmac 7

    Ha ha. I was lucky enough just now to watch the super big Moon-rise at about 68degrees from North in Blenheim. A lovely golden colour and just huge. Don’t think I will be around to see the next one.

    • Muttonbird 7.1

      This was my take on the super moon. It was last month though at moon-set facing east from the base of Mt Wellington where I live.

      View post on imgur.com

      I’m calling it “night flight”.

    • ropata 7.2

      Nice one, weather in Auckland has been too crap for the last couple of days, I’ve seen nothing but grey

    • Ovid 7.3

      I do hope you have at least another 18 years in you. The full moon will be even closer on 26 November 2034. And there’s a total solar eclipse directly over the South Island in 2028 to tide you over.

    • mac1 7.4

      Oh ianmac saw the same moon at the same time from the same place! Next one in November 2034.

      We’ll both be around to see that one, yeah?

  7. One Two 8

    The picture header is in poor taste

  8. joe90 9

    The Harry Leslie Smith

    I've seen these days before and I can tell you it doesn't end well for the common folk. https://t.co/oFe1la0V6n— Harry Leslie Smith (@Harryslaststand) November 13, 2016

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  • PM’s remarks from joint stand-up with PM Morrison
    It’s my pleasure to be in Sydney today for our annual meeting, Prime Minister. It’s fair to say that since we last met, tragedy and disaster have befallen our two countries. They say that in moments of that nature, the true character of an individual comes to the fore. I ...
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    3 hours ago
  • Government takes further action to protect New Zealanders from COVID-19
    Travel restrictions introduced for Iran from today No exemptions for students from China to enter the country Increased health staff presence at international airports  The Government has announced a suite of new actions as it steps up its response to the rapidly changing global spread of the COVID-19 coronavirus.  This ...
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    4 hours ago
  • Agriculture Minister declares adverse event for Waikato primary sector
    Agriculture Minister Damien O’Connor has today classified the drought conditions in Waikato and South Auckland as an adverse event for the primary sector, unlocking $80,000 in Government support for farmers and growers. “This is recognition that the extreme and prolonged nature of this dry spell is taking its toll on ...
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    5 hours ago
  • Govt books in good position to respond to coronavirus
    The Crown accounts are in a strong position to weather any economic uncertainty as a result of coronavirus, with the books in surplus and expenses close to forecast, Finance Minister Grant Robertson says. The Treasury today released the Crown accounts for the seven months to January. The operating balance before ...
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    9 hours ago
  • Digital experts to provide advice on technological change
    Supporting New Zealand to make most of digital and data driven technologies will be the focus of a new Digital Council that begins its work today. Minister for Government Digital Services, Kris Faafoi, and Minister of Statistics, James Shaw, have confirmed the group of experts chosen to advise the Government ...
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    10 hours ago
  • NZ Upgrade on South Island roads
    Safety and climate change resilience are behind South Island regional roading projects that are being brought forward as part of the New Zealand Upgrade Programme, Regional Economic Development Minister Shane Jones has announced.  As part of the NZ Upgrade, $300 million was allocated for regional investment opportunities.  “I’m pleased to ...
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    10 hours ago
  • Milford gets connected with NZ Upgrade
    Digital and air connectivity in Fiordland are getting a big boost, Regional Economic Development Minister Shane Jones has announced.  As part of the $12 billion New Zealand Upgrade Programme announced in January, $300 million was allocated for regional investment opportunities, to be administered by the Provincial Development Unit.  “I’m pleased ...
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    10 hours ago
  • NZ Upgrade for West Coast ports and roads
    West Coast ports and roads will benefit from an investment of $18.6 million to improve safety and resilience and enable future economic growth, Regional Economic Development Minister Shane Jones announced today.   The $12 billion NZ Upgrade Programme announced last month allocated $300 million for regional investment opportunities, to be administered ...
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    10 hours ago
  • NZ Upgrade on North Island regional roads
    Regional roading projects that will improve safety and resilience are being brought forward as part of the New Zealand Upgrade Programme, Regional Economic Development Minister Shane Jones has announced. As part of the NZ Upgrade, $300 million was allocated for regional investment opportunities. “I spend a lot of time in ...
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    10 hours ago
  • Ōpōtiki Harbour finally gets green light
    The Eastern Bay of Plenty will finally get the harbour development it has wanted for decades, thanks to a $79.4 million central Government investment, Regional Economic Development Minister Shane Jones announced today. This game-changing project will revitalise the township of Ōpōtiki and the wider Eastern Bay of Plenty, creating hundreds ...
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    10 hours ago
  • Land, air and sea: regions to benefit from NZ Upgrade
    Regional New Zealand will be a hive of activity in the coming months as the New Zealand Upgrade Programme delivers on its promise to modernise our infrastructure, prepare for climate change and help grow our economy. As part of the $12 billion NZ Upgrade Programme announced by the Government last ...
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    10 hours ago
  • Milestones marked with 2,000+ new cops
    A milestone has been reached with the graduation of more than 2,000 new Police officers since the Coalition Government took office in October 2017. Police Minister Stuart Nash says the graduation today of Wing 335 marks a surge of 2,023 new officers, and coincides with some significant breakthroughs against organised ...
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    1 day ago
  • New diploma helps counter cyber security threats
    Broadcasting, Communications and Digital Media Minister, Kris Faafoi, and the Minister of Education, Chris Hipkins, have welcomed a new cyber security qualification as a step towards countering cyber threats and keeping New Zealanders safe. Attending the launch of the new Level 6 Diploma of Cyber Security at Auckland’s Unitec Institute ...
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    1 day ago
  • Celebrating 20 years of the Hauraki Gulf Marine Park
    Government Ministers today celebrated 20 years of the Hauraki Gulf Marine Park/ Ko te Pataka kai o Tikapa Moana/ Te Moananui a Toi, and recognise there is much to celebrate and so much more to do to give nature a helping hand.   Conservation Minister Eugenie Sage said “New Zealanders care deeply about nature.I want to ...
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    1 day ago
  • NZ economy in strong position to respond to coronavirus
    Prepared remarks on coronavirus by Finance Minister Grant Robertson to the Auckland Chamber of Commerce and Massey University. Good morning ladies and gentlemen, The topic of this speech is the Budget 2020 priorities. But, given the considerable interest that I imagine is in the room about COVID-19 coronavirus, I do ...
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    1 day ago
  • Speech at opening of Nadi Women’s Crisis Centre
    E ngā mana, e ngā reo, e ngā iwi, e ngā rau rangatira ma. Tena koutou, tena koutou, tena koutou katoa. Ni sa bula vinaka. Namaste Thank you Shamima, Hon. Minister Vuniwaqa, community leaders and Women’s Crisis Centre staff for your warm welcome. It’s an honour and privilege to officially ...
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    1 day ago
  • Govt acts on fuel market competition
    The Government has released a comprehensive response to ensuring New Zealanders get a fairer deal at the petrol pump. This follows the Commerce Commission fuel market study which found motorists were paying more than they should for petrol and includes: Fuel Market Bill drafting, to pass mid-year Industry consultation in ...
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    1 day ago
  • Speech at Lautoka Mosque
    E ngā mana, e ngā reo, e ngā iwi, e ngā rau rangatira ma Tēnā koutou katoa Ni sa bula vinaka As-salaam alaikum It is a privilege to be here today. Thank you for welcoming us to your house of prayer. Thank you for your warmth. Thank you for greeting ...
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    1 day ago
  • Taupō Airport upgrade takes off
    Taupō Airport is to be upgraded and expanded through a $5.9 million Government funding boost, Regional Economic Development Minister Shane Jones has announced. “Taupō Airport is the gateway to the Central North Island. It is essential for both keeping local people and businesses connected, but also to bring more people ...
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    1 day ago
  • Place-based assessment confirmed for Rotorua
    The Minister of Housing Megan Woods has confirmed the Government is working with Rotorua Lakes District Council and Te Arawa for the second place-based assessment to better understand the housing and urban issues affecting the city. “Every New Zealander has a right to a warm, safe and secure place to ...
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    1 day ago
  • More houses opened for New Zealanders
    19 new community homes (in addition to 14 opened in December) delivered in Takanini, Auckland 500 people housed by CORT Housing Trust by end of March 2,290 new public housing homes delivered in Auckland (November 2017 – December 2019). Another nineteen new public housing homes are being delivered in Auckland, ...
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    1 day ago
  • New Zealand and India to strengthen ties
    Foreign Minister Winston Peters and Minister for Trade and Export Growth David Parker met today with Indian External Affairs Minister Subrahmanyam Jaishankar to discuss ways to strengthen ties between New Zealand and India.   “India is a priority relationship for New Zealand. We share common democratic traditions, growing two-way trade, extensive people-to-people links, ...
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    1 day ago
  • The Indo-Pacific: from principles to partnerships
    Speech to the Indian Council of World Affairs (ICWA) Delhi, India Wednesday 26 February 2020 [CHECK AGAINST DELIVERY] The Indo-Pacific: from principles to partnerships Distinguished guests, good afternoon and thank you for your invitation.  It is good to be here at a time where New Zealand needs less of an introduction than ...
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    2 days ago
  • Speech to University of the South Pacific students
    Tihei mauri ora Te Whare e tu nei Te Papa e takoto Tēnā korua  No reira tēnā koutou, tēnā koutou, tēnā koutou katoa Ni sa bula Vinaka It is a real pleasure to be here today, and to have the honour of addressing you all. If you’ll indulge me I’m ...
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    2 days ago
  • Proposed new measures to improve Aotearoa’s air quality
      Improved air quality to support better health and environmental wellbeing is the focus of proposed amendments to air quality regulations, says the Associate Minister for the Environment, Hon Nanaia Mahuta.  “Although our air quality is good in most places, during winter certain places have spikes in air pollution, mainly from ...
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    2 days ago
  • Water investment in Raukokore
    The remote eastern Bay of Plenty community of Raukokere will receive a Provincial Growth Fund (PGF) investment of $10.6 million for a water storage facility, Regional Economic Development Minister Shane Jones says. “This is great news for the rural community. The landowner, Te Whānau a Maruhaeremuri Hapū Trust, will use ...
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    2 days ago
  • Lake Ōkaro lakebed transferred to Te Arawa as final piece of Settlement Act
    The Lake Ōkaro lakebed has transferred to Te Arawa Lakes Trust, Minister for Māori Crown Relations: Te Arawhiti Kelvin Davis announced today. Kelvin Davis joined Te Arawa at Te Papaiōuru Marae in Rotorua to celebrate the reinstatement of Te Arawa Lakes Trust as a key decision maker over the bed ...
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    2 days ago
  • Better protection against late payments
    New legislation is being proposed which aims to reduce the stress and financial hardship caused by late payments to small businesses. The Minister for Small Business Stuart Nash is considering stricter rules around payment practices between businesses. “Late payments from large organisations to smaller suppliers can be crippling for these ...
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    2 days ago
  • Police partnership programme with Fiji launched
    A new partnership programme between the New Zealand Police and Fiji Police will focus on combatting transnational organised crime and enhancing investigative skills, Prime Minister Jacinda Ardern announced on the first day of her visit to Fiji. The programme will see: ·       New Zealand Institute of Environmental Science and Research ...
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    3 days ago
  • Joint statement from Prime Minister Ardern and Prime Minister Bainimarama
    Prime Minister Jacinda Ardern and Prime Minister Josaia Voreqe Bainimarama met today in Suva, and renewed their commitment to continue to strengthen Fiji-New Zealand relations on a foundation of shared values and equal partnership. The Prime Ministers acknowledged the kinship between Fijians and New Zealanders, one that has endured over ...
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    3 days ago
  • $19.9 million from PGF for Kawerau
    A $19.9 million investment from the Provincial Growth Fund will help develop essential infrastructure for an industrial hub in the Bay of Plenty town of Kawerau, Regional Economic Development Minister Shane Jones says. “The funding will go to three projects to further develop the Putauaki Trust Industrial Hub, an industrial ...
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    3 days ago
  • PGF funds Mahia roading package
    The Provincial Growth Fund is investing $8.3 million on a roading package for Mahia that will lead to greater and wider economic benefits for the region and beyond, Under Secretary for Regional Economic Development Fletcher Tabuteau announced at an event in Mahia today. The $8.3 million announced consists of: $7 ...
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    3 days ago
  • 18,400 children lifted out of poverty
    Prime Minister Jacinda Ardern has welcomed new reporting showing the Coalition Government is on track to meet its child poverty targets, with 18,400 children lifted out of poverty as a result of the Families Package.   Stats NZ has released the first set of comprehensive child poverty statistics since the Government ...
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    3 days ago
  • 20,000 more Kiwi kids on bikes
    Associate Minister of Transport Julie Anne Genter today announced that Bikes in Schools facilities have been rolled out to 20,000 more kiwi kids under this Government. She made the announcement at the opening of a new bike track at Henderson North School in Auckland. “Bikes in Schools facilities give kids ...
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    3 days ago
  • Benefit settings rise in line with wages as of 1 April
    Benefit settings rise in line with wages as of 1 April   Main benefits will increase by over 3 percent, instead of 1.66 percent, on 1 April with the Government’s decision to annually adjust benefit rates to increases in the average wage. The Minister for Social Development, Carmel Sepuloni, said ...
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    4 days ago
  • Foreign and Trade Ministers to lead business delegation to India
    Strengthening New Zealand’s political and business ties with India will be the focus of Foreign Affairs Minister Winston Peters’ and Trade and Export Growth Minister David Parker’s visit to India this week. The Ministers are co-leading a high level business delegation to India to support increased people and economic engagement ...
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    4 days ago
  • Minister champions more Pacific in STEM – Toloa Awards
    The Minister for Pacific Peoples, Aupito William Sio continues to champion for greater Pacific participation in STEM (Science, Technology, Engineering and Mathematics) careers with the announcement of the Toloa Awards, with 8 recipients of the Toloa Community Fund and 13 Toloa Tertiary Scholarships. “The Toloa Programme encourages more Pacific peoples ...
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    4 days ago
  • Submission period for whitebait consultation extended
    Conservation Minister Eugenie Sage has extended the date for people to have their say on proposed changes to improve management of whitebait across New Zealand.   Submissions were due to close on 2 March 2020 but will now remain open until 9am on Monday 16 March 2020.   “I have ...
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    5 days ago
  • New international protection for frequent fliers
    The endangered toroa/Antipodean albatross has new international protection for its 100,000km annual migration, thanks to collaborative efforts led by New Zealand, Australia and Chile.   Today, 130 countries agreed to strictly protect Antipodean albatross at the Conference of Parties on the Convention on the Conservation of Migratory Species of Wild ...
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    5 days ago
  • Government to regulate vaping
      No sales to under-18-year-olds No advertising and sponsorship of vaping products and e-cigarettes No vaping or smokeless tobacco in smokefree areas Regulates vaping product safety comprehensively, - including devices, flavours and ingredients Ensure vaping products are available for those who want to quit smoking   Vaping regulation that balances ...
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    6 days ago