Bitcoins price was argued up by the Purveyor's of the Ponzi scheme,an imaginary token that had no yield.
The housing bubble here where there are only 96 suburbs nationwide that have affordable homes ( around 500k at the median hose to median income ratio of 5) that has forced both costs in building due to over demand (133 % over commitment of building industry) has created a bubble that needs to break to allow housing to return to affordable levels.
Building a large number of unaffordable homes is unsustainable,when our national debt is increasing,the current account the highest in absolute terms,and interest rates for housing heading to double figures.
Treasury forecast a pandemic recession and the RBG provided the government with QE money. The government used it to prevent a recession. Unfortunately the RBG also allowed QE cheap money to flow through into the housing market (sans removed deposit criteria). And kept the policy in place even when it was clearly wrong. So values went up 40% – a major mistake with consequences for generation rent.
It's bad enough that earlier moves to intensification resulted in rising land/property values.
1. because new housing supply was lower than migration demand
2. we allowed foreigners (and local speculators/land bankers) to enjoy CGT free profit
3. the collapse of finance companies and then tighter bank lending with the GFC (2007-2010 period) reduced construction finance for new builds.
1 All countries with QE and lowered interest rates are experiencing housing bubbles.
2 All countries that had central bank intervention,as well as Keynesian intervention for Infrastructure, (shovel ready projects etc) have experienced substantive material shocks and inflation.
3 Whilst NZ was playing catchup with excessive migration (which decreased wage growth and increased housing demand) a number of countries such as Australia experienced net losses of population( 500 k) across the pandemic and still have high housing costs and rental shortages.
4 Central bank responses globally are now to constrain inflation by interest rate intervention and QT ( qt by the rbnz is not programmed excluding transfers to treasury stock)
5 The US programme of wealth destruction is to remove unprofitable entities from the investment market,the effect on US existing house mortgages unless selling will be little as they are fixed for 30yr.
6 In response to the lowering of demand for new housing,US building costs ie retracted by 50% in Lumber,steel ,cement.(the benefit of a well informed market that limits traders over pricing)
7 Intensive housing developments do not reduce the cost of housing ie make more affordable,they only extend the time of the build,and AK there is only around an increase of 60% net electricity isolation nodes per 100 council compliance certificates.
A legal appeal has been filed by Wikipedia in the Russian courts against censorship and fines imposed on Wikipedia by the Russian govt. over the Wikipedia entry on the war in Ukraine.
It will be interesting to see what the outcome of this court case will be.
Possibly even more interesting will be the court transcript of the evidence presented in the court backing the wikipedia entry.
Wikipedia fights Russian order demanding it remove information on Ukraine invasion
14/06/2022
…..The Foundation was prosecuted under a law about the failure to delete banned information.
….Ukraine says it is the victim of an unprovoked imperial-style land grab by Russia and that it will fight to the end to reclaim the territory that Russian forces have occupied…
….Russian officials do not use the words "war" or "invasion". They cast it a "special military operation" aimed at preventing the persecution of Russian speakers in eastern Ukraine….
…..Ukraine and its Western backers deny Moscow's claims that Russian speakers were persecuted.
…..Russia says the alleged evidence of war crimes consists of carefully constructed fakes….
I know, that is a pretty corny title but given the circumstances here in the Auckland region, I just had to say it. The more oblique reference embedded in the title is to the leadership failures exhibited by Mayor Wayne Brown and his so-called leadership team when confronted by the ...
How much confidence should the public have in authorities managing natural disasters? Not much, judging by the farcical way in which the civil defence emergence in Auckland has played out. The way authorities dealt with Auckland’s extreme weather on Friday illustrated how hit-and-miss our civil defence emergency system is. In ...
Thanks for reading Frankly Speaking ! Subscribe for free to receive new posts and support my work.The recent leadership change in the governing Labour party resulted in a very strange response from National’s (current) leader, Christopher Luxon. Mr Luxon berated Labour for it’s change of leader, citing no actual change.As ...
A chronological listing of news articles posted on the Skeptical Science Facebook Page during the past week: Sun, Jan 22, 2023 thru Sat, Jan 28, 2023. Story of the Week New Study Reveals Arctic Ice, Tracked Both Above and Below, Is Freezing LaterClimate change is affecting the timing of both ...
Thanks for reading Frankly Speaking ! Subscribe for free to receive new posts and support my work.It was another ‘SHOCK! HORROR!’ headline from a media increasingly venturing into tabloid-style journalism:Andrea Vance’s article seemed to focus on the "million dollar sums from the Government as the country grapples with a housing ...
Dr Brian Easton writes: It’s the summer break. Everyone settles down with family, books, the sun and some fishing. But the Prime Minister has a pile of briefing papers prepared just before Christmas, which have to be worked through. I haven’t seen them. Here is my guess at some ...
What Was the Prime Minister Reading in the Runup to Election Year?It’s the summer break. Everyone settles down with family, books, the sun and some fishing. But the Prime Minister has a pile of briefing papers prepared just before Christmas, which have to be worked through. I haven’t seen them. ...
In case you hadn't noticed, FYI, the public OIA request site, has been used to conduct a significant excavation into New Zealand's intelligence agencies, with requests made for assorted policies and procedures. Yesterday in response to one of these requests the GCSB released its policy on New Zealand Purpose and ...
Farming leaders are watching closely whether Damien O’Connor keeps the key portfolios of Agriculture and Trade when Prime Minister Chris Hipkins restructures his Cabinet. O’Connor has been one of the few ministers during Labour’s term in office who has won broad support for what he has done ...
South Islands farmers are whining about another drought, the third in three years. If only we knew what was causing this! If only someone had warned them that they faced a drying climate! But we do know what is causing it: climate change. And they have been warned, repeatedly, for ...
Ok, there’s good news and bad news in this week’s inflation figures, but bad > good. Our inflation rate held steady but hey, at a level below the inflation rate in Australia. The main reason for the so/so result here? A fall in petrol prices of 7.2% offset the really ...
Dr Bryce Edwards writes: Since her shock resignation announcement, Jacinda Ardern has been at pains to point out that she isn’t leaving because of the toxicity directed at her on social media and elsewhere, rebutting journalists who suggested misogyny and hate may have driven her from office. Yet ...
Since her shock resignation announcement, Jacinda Ardern has been at pains to point out that she isn’t leaving because of the toxicity directed at her on social media and elsewhere, rebutting journalists who suggested misogyny and hate may have driven her from office. Yet there have been dozens of columns ...
The Clinical Magus: Of particular relevance to New Zealanders struggling to come to terms with the sudden departure of their prime minister, Jacinda Ardern, is Jung’s concept of the anima. Much more than what others have called the feminine principle, the anima is what the human male has made out ...
The Select Committee, considering the proposed RNZ-TVNZ merger, has come back with a report conceding many of the criticisms that were made of the original legislation. In what is one of the most comprehensive demolitions of a Bill submitted to a Select Committee, the Economic Development, Science and Innovation ...
Such are the 2020s, the age when no-one, it seems, actually respects the basic underpinnings of democracy. Even in New Zealand. This week, I stumbled across a pair of lengthy and genuinely serious articles, that basically argue that Something is Rotten in the state of New Zealand democracy. One ...
Buzz from the Beehive Hurrah. Today we found something fresh on the Beehive website, Beehive.govt.nz, which claims to be the best place to find Government initiatives, policies and Ministerial information. It wasn’t from Finance Minister Grant Robertson, whose reaction to the latest inflation figures would have been appreciated. So, too, ...
Smiling And Waiving A Golden Opportunity: Chris Hipkins knew that the day at Ratana would be Jacinda’s day – her final opportunity to bask in the unalloyed love and support of her followers. He simply could not afford to be seen to overshadow this last chance for his former boss ...
Extremism Consumes Itself: The plot of “Act of Oblivion” concerns the relentless pursuit of the “regicides” Edward Whalley and William Goffe – two of the fifty-nine signatories to King Charles I’s death warrant. As with his many other works of historical fiction, Robert Harris’s novel brings to life a period ...
To challenge the Government’s promotion of co-governance, to share power between Maori and public authorities and agencies, is to invite accusations of racism. An example: this article by Martyn Bradbury on The Daily Blog headed Luxon’s race baiting hypocrisy at Ratana. The article was triggered by National leader Christopher Luxon, ...
A very informative video discussion: Are we getting the whole story about Ukraine? | Robert Wright & Ivan Katchanovski Getting objective information on the situation in Ukraine and the cause of this current war is not easy. There is the current censorship and blatant mainstream media bias – which ...
Yesterday the Herald ran an op-ed from Mayor Wayne Brown titled “The case for light rail is lighter than ever” and a few things stood out. However, it’s getting more and more tricky to make a strong economic case for spending up to $29 billion on a single route of ...
This is a re-post from Yale Climate Connections by Samantha Harrington Imagine it’s a cold February night and your furnace breaks. You want to replace it with an electric heat pump because you’ve heard that tax credits will help pay for the switch. And you know that heat pumps can reduce ...
In 2005, then-National Party leader based his entire election campaign on racism, with his infamous racist Orewa speech and racist iwi/kiwi billboards. Now, Christopher Luxon seems to want to do it all again: Fresh off using his platform at this week's Rātana celebrations to criticise the government's approach to ...
Inflation is showing little sign of slowing down, posing a problem for freshly minted PM Chris Hipkins. According to that old campaigner Richard Prebble, Hipkins should call a snap election. If he waits till October, he risks being swept away. The dilemma for the new leader is that fighting an election ...
Buzz from the Beehive A great deal has happened since January 19. Among other things, a new Prime Minister and deputy have been sworn in and our leaders (past, present and aspiring) have delivered speeches at Ratana. Newshub reported that politicians of all stripes had descended upon Rātana for the ...
It’s a big day for New Zealand; our 41st Prime Minister has taken office and the new, “Chippy” era of politics is underway. Or, on the other hand, the Labour Party continues to govern with an overall majority and much the same leadership team in place. Life goes on and ...
New Zealand has another Prime Minister who does not have a basic grasp of the three articles of the Treaty of Waitangi. THOMAS CRANMER writes: It is simply astonishing that New Zealand’s next Prime Minister, Chris Hipkins, is unable to give even a brief explanation of the three articles ...
A statue of a semi-naked Nick Smith puts the misogyny debate into perspective. GRAHAM ADAMS writes … In the wake of Ardern’s abrupt resignation, the mainstream media are determined to convince us she was hounded from office mainly because she is a woman and had to fall on her sword ...
A Different Kind Of Vibe: In the days and weeks ahead, as the Hipkins ministry takes shape, the only question that matters is whether New Zealand’s new prime minister possesses both the wisdom and the courage to correct his party’s currently suicidal political course. If Chris “Chippy” Hipkins is ...
An editorial in the NZ Herald last week, titled “Nimbyism goes bananas as housing intensifies“, introduced Herald readers to a couple of acronyms that go along with the now-familiar NIMBY (Not in My Back Yard): “bananas” (build absolutely nothing anywhere near anyone) “cave” dwellers (citizens against virtually everything). The editorial ...
Back in the dark autumn of 2020, when the prospect of Covid was freaking the country out, Finance Minister Grant Robertson set himself and Treasury a series of questions about what a post-Covid economy might look like. Those were fearful days, and the questions in part reflected a series ...
Buzz from the Beehive Yet another day has passed without Ministers of the Crown posting something to show they are still working for us on the Beehive website. Nothing new has been posted since January 17. Perhaps the ministers are all engaged in the bemusing annual excursion ...
Incoming Prime Minister Chris Hipkins has already indicated he intends making the tax system “fairer”. That points to the route a government facing an election could take to tilt the odds towards winning in its favour, given Labour’s support in the last months of the Ardern era had been ...
NewsHub has a poll on the cost-of-living crisis, which has an interesting finding: the vast majority of kiwis prefer wage rises to tax cuts: When asked whether income has kept up with the cost of living, 54.8 percent of people surveyed said no and according to 58.6 percent of ...
Labour has begun 2023 with the centre-left bloc behind in the polls and losing ground. That being so, did his colleagues choose Chris Hipkins as the replacement for Jacinda Ardern because they think he has a realistic shot at leading them to victory this year, or because he‘s the best ...
Two Flags, Two Masters? Just as it required a full-scale military effort to destroy the first attempt at Māori self-government in the 1850s and 60s (an effort that divided Maoridom itself into supporters and opponents of the Crown) any second attempt to establish tino rangatiratanga, based on the confiscatory policies ...
The first of Kiwirail’s big network shutdowns to fix the foundations on our tracks is now well underway with the Southern Line closed between Otahuhu and Newmarket. This is following on from the network wide Christmas/New Year shutdown, during which Kiwirail say that nearly 1,300 people working across 69 different ...
This is a re-post from the Citizens' Climate Lobby blogIn last year’s passage of the Inflation Reduction Act (IRA), Congress included about $20 billion earmarked for natural climate solutions. The United States Department of Agriculture (USDA) is responsible for deciding how those funds should be allocated to meet the climate ...
You’ve really got to wonder at the introspection, or lack thereof, from much of the mainstream media post Jacinda Ardern stepping down. Some so-called journalists haven’t even taken a breath before once again putting the boot in, which clearly shows their inherent bias and lack of any misgivings about fueling ...
Over the weekend I was interviewed by a media outlet about the threats that Jacinda Ardern and her family have received while she has been PM and what can be expected now that she has resigned. I noted that the level of threat she has been exposed to is unprecedented ...
Dr Bryce Edwards writes: The days of the Labour Government being associated with middle class social liberalism look to be numbered. Soon-to-be Prime Minister Chris Hipkins and Deputy Prime Minister Carmel Sepuloni are heralding a major shift in emphasis away from the constituencies and ideologies of liberal Grey ...
A Different Kind Of Vibe: In the days and weeks ahead, as the Hipkins ministry takes shape, the only question that matters is whether New Zealand’s new prime minister possesses both the wisdom and the courage to correct his party’s currently suicidal political course. If Chris “Chippy” Hipkins is able to steer ...
The days of the Labour Government being associated with middle class social liberalism look to be numbered. Soon-to-be Prime Minister Chris Hipkins and Deputy Prime Minister Carmel Sepuloni are heralding a major shift in emphasis away from the constituencies and ideologies of liberal Grey Lynn and Wellington Central towards the ...
Following the surprise resignation of Jacinda Ardern last week, her replacement, Chis Hipkins, has said: Over the coming week, Cabinet will be making decisions on reining in some programs and projects that aren’t essential right now That messaging is similar to what Jacinda Ardern said late last year and as ...
Much of what will mark the early days of Chris Hipkins’ Prime Ministership would have happened anyway. By December, the Prime Minister and Finance Minister were making it clear the summer break and early days of this year were going to be spent on a reset of government policy. ...
Going to try to get into the blogging thing again (ha!) what with an election coming up and all that. So today I thought I'd start small and simple, by merely tackling the world's (second) richest man.I'm no fan of Elon Musk. You don't want to know why, but I'll ...
A chronological listing of news articles posted on the Skeptical Science Facebook Page during the past week: Sun, Jan 15, 2023 thru Sat, Jan 21, 2023. Story of the Week State of the climate: How the world warmed in 2022With a new year underway, most of the climate data for ...
Well, that was a disappointment. As of today, the New Zealand Labour Caucus opted for Chris Hipkins as our new Prime Minister, and I cannot help but let loose a cynical cackle. ...
Get ready for a major political reset once Chris Hipkins is sworn in as Prime Minister this week. Labour’s new leader is likely to push the Government to the right economically, and do his best to jettison the damaging perceptions that Labour has become “too woke” on social issues. Overall, ...
Things have gone sideways… and it’s only the third week of January? It was political earthquake time. For some the Prime Minister made a truly significant announcement. For others – did you have this on your bingo card? – a body double did so (sit tight, you’ll understand later, ...
Buzz from the Beehive Because our hard-working Ministers of the Crown are engaged in Labour Party caucus stuff in Napier, no doubt jockeying to ensure they keep their jobs or get a better one, Point of Order was not surprised to find no fresh news on the Beehive website this ...
By the end of 2019, Jacinda Ardern was a political superstar heading towards an election defeat. She was an icon, internationally beloved, on track to be an ex-prime minister before the age of forty. It was the year of the Christchurch terror attack when Ardern’s response to the atrocity saw ...
People complain about their jobs being meaningless. Does it matter?David Graeber, author of Bullshit Jobs: The Rise of Pointless Work and What We Can Do About It, would have smiled at Elon Musk’s sacking half the Twitter workforce. Musk seems to be confirming the main thesis of the book, that ...
Dr Bryce Edwards writes: Should New Zealand have a snap election? That’s one of the questions arising out of the chaos of Prime Minister Jacinda Ardern’s shock resignation. There’s an increased realisation that everything has changed, and the old plans and assumptions for election year have suddenly evaporated. ...
Should New Zealand have a snap election? That’s one of the questions arising out of the chaos of Prime Minister Jacinda Ardern’s shock resignation. There’s an increased realisation that everything has changed, and the old plans and assumptions for election year have suddenly evaporated. So, although Ardern has named an ...
I warned about the trap of virtue signaling in my article Virtue signaling over Ukraine. This video is still relevant – but have we moved on since then? The Russian invasion of Ukraine in February 2022 was universally condemned at the time. Or was it? Certainly, the political atmosphere ...
Earlier this week Point of Order carried a post by Geoffrey Miller on how Japan under a new security blueprint is doubling its defence spending. The plans see Japan buying up advanced weaponry – including long-range Tomahawk cruise missiles from the US – and spending more on ...
Anyone else suffering back-to-work-blues? We’re battling, but still upright. Haere tonu! Today’s cover image is of sunset over Tirohanga Whānui Bridge, sourced from Twitter. The week in Greater Auckland On Monday, Jolisa pondered the fate of AT’s ‘Statements of Imagination’. Tuesday’s post was a guest post by Grady ...
Open access notables Bad news delivered by an all-star cast of familiar researchers: Another Year of Record Heat for the Oceans. From the abstract: In 2022, the world’s oceans, as given by OHC, were again the hottest in the historical record and exceeded the previous 2021 record maximum. According to IAP/CAS data, ...
The resignation of Jacinda Ardern has already made more global headlines than you might expect for that of the PM of a small commonwealth nation like say Sierra Leone (population 6.5 million) or Singapore (population 5.5 million). But international observers might not be too surprised by Ardern’s announcement that ...
One of my earliest political memories is the resignation of Prime Minister David Lange in August 1989. I remember this because of a brown felt-tipped pen drawing I did of the Beehive, the building that houses the Executive of the New Zealand Government. More than thirty years later, we ...
Buzz from the Beehive Hard on the heels of our Buzz from the Beehive earlier today, the PM has made two announcements – the 2023 general election will be held on Saturday 14 October and she will not be campaigning to win a third term as Prime Minister. She will ...
The tools exist to help families with surging costs – and as costs continue to rise it is more urgent than ever that we use them, the Green Party says. ...
As the Mayor of Auckland has announced a state of emergency, the Government, through NEMA, is able to step up support for those affected by flooding in Auckland. “I’d urge people to follow the advice of authorities and check Auckland Emergency Management for the latest information. As always, the Government ...
Ka papā te whatitiri, Hikohiko ana te uira, wāhi rua mai ana rā runga mai o Huruiki maunga Kua hinga te māreikura o te Nota, a Titewhai Harawira Nā reira, e te kahurangi, takoto, e moe Ka mōwai koa a Whakapara, kua uhia te Tai Tokerau e te kapua pōuri ...
Carmel Sepuloni, Minister for Social Development and Employment, has activated Enhanced Taskforce Green (ETFG) in response to flooding and damaged caused by Cyclone Hale in the Tairāwhiti region. Up to $500,000 will be made available to employ job seekers to support the clean-up. We are still investigating whether other parts ...
The 2023 General Election will be held on Saturday 14 October 2023, Prime Minister Jacinda Ardern announced today. “Announcing the election date early in the year provides New Zealanders with certainty and has become the practice of this Government and the previous one, and I believe is best practice,” Jacinda ...
Jacinda Ardern has announced she will step down as Prime Minister and Leader of the Labour Party. Her resignation will take effect on the appointment of a new Prime Minister. A caucus vote to elect a new Party Leader will occur in 3 days’ time on Sunday the 22nd of ...
The Government is maintaining its strong trade focus in 2023 with Trade and Agriculture Minister Damien O’Connor visiting Europe this week to discuss the role of agricultural trade in climate change and food security, WTO reform and New Zealand agricultural innovation. Damien O’Connor will travel tomorrow to Switzerland to attend the ...
The Government has extended its medium-scale classification of Cyclone Hale to the Wairarapa after assessing storm damage to the eastern coastline of the region. “We’re making up to $80,000 available to the East Coast Rural Support Trust to help farmers and growers recover from the significant damage in the region,” ...
The Government is making an initial contribution of $150,000 to the Mayoral Relief Fund to help communities in Tairāwhiti following ex-Tropical Cyclone Hale, Minister for Emergency Management Kieran McAnulty announced. “While Cyclone Hale has caused widespread heavy rain, flooding and high winds across many parts of the North Island, Tairāwhiti ...
Rural Communities Minister Damien O’Connor has classified this week’s Cyclone Hale that caused significant flood damage across the Tairāwhiti/Gisborne District as a medium-scale adverse event, unlocking Government support for farmers and growers. “We’re making up to $100,000 available to help coordinate efforts as farmers and growers recover from the heavy ...
Chesdale cheese slices were one of the banes of Charlotte Muru-Lanning’s childhood. Can she learn to love them as an adult?This is an excerpt from our weekly food newsletter, The Boil Up. For most of my childhood, Chesdale cheese slices were a mainstay in the fridge. Much to my disappointment. ...
Auckland has a big clean-up job and faces uncertainty with severe weather forecast, but the prime minister would not be drawn on the Auckland mayor's handling of the flood response. ...
Total exports saw a growth of $8.7 billion (14 percent) to $72.2 billion in the year ended December 2022 compared with 2021, Stats NZ said today. Annual imports also rose sharply to $86.7 billion, up $16.1 billion (23 percent). “Price inflation ...
Meet the kiwi in charge of some of the worlds biggest brands across Japan, Australia and Aotearoa. Glen Kyne went from running the commercial team at Mediaworks to fostering brands like CNN and HBO in the blink of an eye. He chats with Duncan about the future of the streaming ...
The report by the Economic Development, Science, and Innovation Committee has suggested essential changes to the Aotearoa New Zealand Public Media Bill. Many of these changes are straight out of the Free Speech Union submission on this Bill and we are glad ...
Power Play - Aucklanders did not get the political leadership they deserve as they face the aftermath of Friday night's devastating floods, writes Jane Patterson. ...
Source: The Conversation (Au and NZ) – By Kath Albury, Professor of Media and Communication and Associate Investigator, ARC Centre of Excellence for Automated Decision-Making + Society, Swinburne University of Technology Shutterstock A 2022 survey by the Australian Institute of Criminology found three in four app users surveyed ...
Source: The Conversation (Au and NZ) – By Nicholas Farrelly, Professor and Head of Social Sciences, University of Tasmania Two years after Myanmar’s coup on February 1 2021, the country’s large and growing resistance forces receive almost no attention outside the country. The democratic opposition, fronted by the National ...
Source: The Conversation (Au and NZ) – By Emma Beckett, Senior Lecturer (Food Science and Human Nutrition), School of Environmental and Life Sciences, University of Newcastle Pexels, CC BY Many of us want (or should I say need?) our morning coffee to give us our “get up and ...
Source: The Conversation (Au and NZ) – By Mark Patrick Taylor, Victoria’s Chief Environmental Scientist, EPA Victoria; Honorary Professor, School of Natural Sciences, Macquarie University Shutterstock We know everything in our homes gathers dust. What you probably don’t know is whether there are toxic contaminants in your house ...
Source: The Conversation (Au and NZ) – By Ian A Wright, Associate Professor in Environmental Science, Western Sydney University Dan Himbrechts/AAP Swimming in rivers, creeks and lakes can be a fun way to cool off in summer. But contamination in natural waterways can pose a risk to human ...
Source: The Conversation (Au and NZ) – By Kate Highfield, Senior Lecturer, Deputy Head of School (ACT and regional NSW), Australian Catholic University Erik Anderson/AAP Around Australia, about 320,000 children are starting school for the first time. As an early childhood researcher, former kindergarten teacher, and parent of ...
Source: The Conversation (Au and NZ) – By Julie Sonnemann, Principal Advisor Education, Grattan Institute Shutterstock More than four million students around Australia are heading back to school. While this will be a year of achievement and learning growth for many students, others will struggle to keep up. ...
Source: The Conversation (Au and NZ) – By Peter Tregear, Principal Fellow and Professor of Music, The University of Melbourne This article contains spoilers. Todd Field’s new, multi-Academy Award nominated feature film Tár is generating considerable commentary – and not a little controversy. For some, its storyline allows ...
*This story was originally published on RNZ and is republished with permission* Aucklanders whose homes and businesses were inundated during Friday's deluge have begun cleaning up as the threat of further wild weather lingers. Some of them told First Up how the unprecedented rain event had impacted them. 'It's just ...
Most of them commemorate early Pākehā arrival. Some are based on obsolete provincial borders. One celebrates an A&P show. But most importantly, none of them have any meaning to the vast majority of us, writes historian André Brett. First published in 2021 Last Monday was the Wellington Anniversary Day public ...
In the final part of a series on Labour's leadership transition, Elliot Crossan argues that the idealistic vision Jacinda Ardern espoused of a kind, empathetic and fair society is possible – but not with a less-inspiring new leader. Read part one here, and part two hereOpinion: Jacindamania ended in ...
A progress report on booksellers Last week's shock news that Vic Books in Wellington is set to close – it's open for nine more trading weeks, shutting its doors for good on March 31 – has been felt deeply by Kiwi booksellers. "It happens to them, it happens to all ...
A focus on “bread and butter” issues likely signals the end of the RNZ/TVNZ merger, writes Mark JenningsOpinion: It is highly probable new Prime Minister Chris Hipkins has decided to scrap the plan to create a new public media entity, he just hasn’t announced it yet. His election-year pitch ...
Nearly 18 million people in Ukraine are in need of humanitarian assistance. The Detail talks to one aid worker who's seen the devastation wreaked by Russia's invasion and the toll it's taken on Ukrainians. When New Zealand aid worker Anne Bulley knocked on the door of two elderly women living in a ...
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Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The Albanese government’s cultural policy, released Monday, “puts First Nations first”, while also promising regulated Australian content on streaming services and a shift to greater support for the popular in the arts. The policy reflects ...
An inexhaustive list of community assistance in the Auckland area.Kai, clothing, bedding Auckland City Mission A flood response fund has been set up by the mission. Both Vodafone and Te Rourou, Vodafone Aotearoa Foundation will match donations up to $35,000 each. So, for every $10 donated, $30 will go ...
Auckland Emergency Management have issued an emergency mobile alert ahead of the potential for extremely heavy rain to hit the Auckland region. The alert warned Aucklanders of MetService’s orange heavy rain warning between now and Monday. The Met Service issued an orange heavy rain warning due to an active line of thunderstorms ...
By Barbara Dreaver, 1News Pacific correspondent The Moungavalu family in Aotearoa New Zealand are grateful to be alive. Their Māngere home in Auckland, along with others in their street, was hit hard by flooding with chest-deep water sweeping down the road. Mohe Mougavalu says the water went down their no ...
Auckland's mayor says lessons have been learned following the region's highest ever rainfall over 24 hours, which left four people dead and forced hundreds of people out of their homes. ...
Oceans are at their warmest state ever and that has consequences, Kevin Trenberth writes I am a climate scientist who has been around watching the climate crisis grow from one of little concern to one where enough extremes of weather have grabbed the attention of the public. It is now ...
The deputy prime minister, Carmel Sepuloni, and transport minister Michael Woods spoke Sunday afternoon and updated on the government’s response to the state of local emergency in Auckland. Today there will be 70-80 case managers supporting those calling the MSD helpline for assistance. Sepuloni encouraged anyone needing any assistance (food, ...
Deputy Prime Minister Carmel Sepuloni says it has been "incredibly heartening" to see the way Aucklanders had helped each other out over the past few days. Sepuloni and Transport Minister Michael Wood have provided today's government update on the ongoing state of emergency in Auckland. Sepuloni thanked the many organisations ...
The deputy prime minister says it has been "incredibly heartening" to see the way Aucklanders had helped each other out over the past few days. Watch the latest government update here. ...
The deputy prime minister and the transport minister are providing today's government update on the ongoing state of emergency in Auckland. Watch it live here. ...
Source: The Conversation (Au and NZ) – By Timothy Welch, Senior Lecturer in Urban Planning, University of Auckland Getty Images We’ve built our cities to be vulnerable to – and exacerbate – major weather events such as the one we saw in Auckland on Friday. While almost no ...
If you’ve managed to secure some eggs, here’s a tasty dish from the Parsi cuisine which essentially revolves around eggs… Even if they were an acquired taste for Perzen Patel. I’ve always been mentally allergic to eggs. I’ll eat cakes that have eggs and dishes where I can’t see or ...
PNG Post-Courier Papua New Guinea’s Service Improvement Programme worth more than K1 billion (NZ$440 million) has become a major cash cow for “irresponsible” leaders, says the monitoring agency. In the past decade, the Provincial and District Services Improvement Programme has delivered much but has not achieved what it set out ...
Twice a week, church bells ring out through Auckland’s CBD. Sam Brooks meets the people who make it happen.If you happen to be on the Victoria Park side of the CBD on a Tuesday night or a Sunday morning, you’ll hear the sound of eight bells ringing clear as, ...
An excerpt from a keynote speech delivered in November last year to mark Ben Brown’s time as Te Awhi Rito New Zealand Reading Ambassador.We imagine ourselves into existence and a universe comes with us. This is the first and most important function of language, revealed to us ideally ...
Or if he did, it might read something like thisVexed, defensive, shouty, Mayor Brown the Second wore the countenance of a man who had just discovered, to his irritation and horror, that he is, you know, the mayor of Auckland. At Saturday’s press conference in response to the record-breaking, ...
When you consider their remote location, perilous terrain and dark, sometimes ugly history, it seems incredible that anyone still lives on Pitcairn Island. But almost 50 people do and, as Graeme Lay discovers, they live very well. The supply ship Claymore II stands off the north coast of Pitcairn Island. ...
Heavy rain has hit Bay of Plenty and Coromandel overnight and there's more rain on the way for Auckland, but people are beginning to take stock of the damage. A home has collapsed in Tauranga and residents have been evacuated. There are a number of road closures mainly in the ...
In the second of a three-part series on Labour's leadership transition, Elliot Crossan focuses on how Labour's economic handling of the Covid crisis created an explosion in inequality. Read part one here.Opinion: In her emotional resignation speech, Jacinda Ardern described how she no longer had “enough in the tank to do ...
ANALYSIS:By James Renwick, Te Herenga Waka — Victoria University of Wellington The extraordinary flood event Auckland experienced on the night of January 27, the eve of the city’s anniversary weekend, was caused by rainfall that was literally off the chart. Over 24 hours, 249mm of rain fell — well ...
RNZ News Prime Minister Chris Hipkins has acknowledged the way Aucklanders have come together and opened their homes to those in need, with the New Zealand government focused on providing the resources needed to get the city back up and running. The new prime minister — just four days into ...
RNZ News Minister for Emergency Management Kieran McAnulty has asked for communication on support after the severe thunderstorm in Auckland to be stepped up. It comes after a Civil Defence warning text failed to be sent out, and Auckland Mayor Wayne Brown told RNZ they will be reviewing the response, ...
RNZ News Three people are dead and at least one person is missing following the flooding overnight in Auckland, New Zealand’s largest city. About 1000 people were still stranded today after Auckland Airport was closed last night because of flooding of the arrival and departure foyers. Flights were cancelled for ...
Wayne Brown has doubled down on his decision last night to shun the media until close to midnight and only order a state of emergency at 9.30pm. In a defensive display to the media this afternoon, the Auckland mayor was questioned on comments other councillors made last night, including some ...
Prime minister Chris Hipkins has confirmed there are three deaths linked to the extreme weather event in Auckland over the past 24 hours. There is also at least one person missing. Speaking at a press conference in Auckland, Hipkins said the priority was to make sure Aucklanders were safe, housed ...
*This story was first published on The Conversation and is republished with permission*Until New Zealand's stormwater drain system adapts to our rising climate, it will never be able to cope with the level of flooding seen in Auckland on Friday night, writes James Renwick The extraordinary flood event Auckland experienced ...
Chris Hipkins has experienced his first major event as prime minister, just days into his tenure. He’s spent the day in Auckland alongside emergency services, surveying the damage and assessing next steps. He’s due to speak at 3.15pm alongside Auckland mayor Wayne Brown. Thanks to Stuff, here is a livestream. ...
Due to the “unprecedented weather event” in Auckland, organisers have confirmed the “heartbreaking decision” to cancel this year’s Laneway Festival. “We were so excited to deliver this show to our biggest crowd ever in New Zealand, our team has been working around the clock to do everything they can to ...
With the rain easing for a moment, many will be beginning the arduous task of cleaning out their flooded property. Auckland council has release advice for cleaning up after a flood. Cleaning up after a flood It is important to clean and dry your house and everything in it. Floodwater ...
Air New Zealand Chief Operational Integrity and Safety Officer Captain David Morgan says the airline’s domestic flights in and out of Auckland resumed from 12pm today as Auckland Airport re-opens. But he said with a backlog of flights and customers, the priority is those who need to travel urgently. “Those ...
Festival-goers holding on hope for Laneway, set to take place at Western Springs on Monday, will have to wait a bit longer for an official update. A brief post on Facebook this afternoon stated: “Safety is Laneway Festival’s number one priority. With the large weather event Auckland is currently experiencing, ...
Wayne Brown has defended the timing of a declaration of a state of emergency last night following record rainfall in Auckland. “The state of emergency is a prescribed process, it’s quite formal, and I had to wait until I had the official request from the emergency management centre. The moment ...
After the 11th hour cancellation last night, Elton John has cancelled the second concert of his farewell tour at Mt Smart, which had been scheduled for this evening. In a statement, John said: “Following the instruction of the emergency services, we have no option but to cancel tonight’s show in ...
The member of parliament for Mt Albert, Jacinda Ardern, has posted a message on Facebook following the flooding in Auckland. “I’m very conscious that it’s been a while since I posted, and there have been a few big things happening. But today the most important thing is everyone’s wellbeing and ...
Flooding of the runway, the check-in and arrivals areas on the ground floor and surrounding roads has disrupted operations at Auckland International, halting all departures until at least 5pm today, with no arrivals before 4:30am tomorrow. “People are asked not to come to the International Terminal at this time for ...
Source: The Conversation (Au and NZ) – By James Renwick, Professor, Physical Geography (climate science), Te Herenga Waka — Victoria University of Wellington Victoria Park near the Auckland CBD on January 27.Getty Images The extraordinary flood event Auckland experienced on the night of January 27, the eve of the ...
New Zealand’s largest insurance group, IAG, says it is on track to receive more than 1,100 claims from Aucklanders by lunchtime after the city was deluged in the wettest day on record. Those claims, said the group which includes AMI, State and NZI Insurance, span property damage to homes and ...
The rampant flooding in Auckland didn’t just detonate its provincial public holiday weekend – it coincided with the biggest weekend of the year to date for live events. A pair of Elton John concerts at Mt Smart stadium had a combined capacity of over 80,000, while both Laneway at Western ...
Auckland is beginning a clean-up after its wettest day since records began. “Auckland was clobbered on Friday,” said emergency management duty controller Andrew Clark. “We won’t start to get a good idea of numbers affected until later today and, even then, this will take time, with information still coming in ...
The prime minister, Chris Hipkins, is travelling to Auckland after devastating floods hit the city overnight. With the airport out of operation until at least midday, he is landing at Whenuapai air base on a New Zealand Defence Force Hercules aircraft from Wellington. ...
Prime Minister Chris Hipkins has arrived in Auckland for a daylong visit to the city following its catastrophic flood on Friday night. Flying in an Air Force Hercules to Whenuapai, Hipkins will spend roughly three hours on the ground assessing flood damage in the city before returning. He will receive ...
A quirk of timing left all Auckland’s institutions on the back foot. But social media, particularly TikTok, graphically showed just how bad the situation was. Late afternoon on a Friday is known as time to quietly drop bad news. You have the plausible deniability of it happening during work hours, ...
It’s a common sight during summer. It’s also a recipe for disaster.I recently drove with my family from New Plymouth to Tāmaki Makaurau and, just like how I lost count of how many cows I saw on the way, I lost count of how many cars had a passenger ...
Opinion - Election year has begun with a bang, and already the punditry and speculation are ramping up, but Grant Duncan warns not to treat polls as gospel. ...
New Zealand’s new prime minister, Chris Hipkins, is formally facing down an emergency just a few days after being sworn in, summoning the National Crisis Management Centre to the Beehive. The Beehive Bunker is being stood up to help with coordination of the emergency response in Auckland. I’ve asked ...
Analysis - Jacinda Ardern is one of New Zealand's most historically significant leaders. But she did not achieve the grand vision for Aotearoa her outsized rhetoric promised. ...
Brits abroad can be an asset to Aotearoa - but only if we make an effort to engage with te ao Māori, writes Scottish expat Fran Barclay Earlier this week, the UK High Commissioner signalled a promising intention to address the barriers facing young Māori and Pasifika who aspire to ...
"They want the Māoris out": provincial life in NZShe hadn’t learned to shut her mouth. Howard was tired of Councillor Kemp harping on and on and on. He pushed himself deeper into the boardroom chair and leaned back as far as he could force it. This woman had ranted ...
Positive affirmation quotes often aren’t helpful for tāngata whai ora. But taking the piss out of them can be. Early in January, on the first day of what would be a week of staying in bed with the curtains pulled, I put a disappointingaffirmations Instagram post up on my stories. ...
Ellen Rykers visits Mahakirau Forest Estate, ‘a crown jewel in the Coromandel Range’, where pest control is serious business.This is an excerpt from our weekly environment newsletter Future Proof – sign up here. The Mahakirau Forest Estate is not your average subdivision. Enter through its tall ...
As Auckland tackles severe floods and the city’s airport emerges from a deluge on both the runway and in terminals, Air New Zealand has confirmed that no flights will leave or arrive before noon on Saturday at the earliest. In a statement, the airline said anyone booked for a flight ...
RNZ News Mayor Wayne Brown has shut down criticism that he was too slow in declaring a state of emergency after severe flooding in Auckland, New Zealand’s largest city. In a media stand-up late on Friday evening, Brown said he was following advice from experts and as soon as they ...
The Prime Minister has gone down to the Beehive bunker to help coordinate the emergency response, as the Insurance Council warns some Aucklanders whose homes and business are flooded face very hard times ahead. Jonathan Milne reports.Comment: Standing by the south-western motorway, I watched in dismay as hundreds of cars ...
Fairly chilling the warning of another big variant headed for us, likely evading current immunity.
Our third year.
We opened the window and in flew enza.
https://www.esr.cri.nz/our-services/consultancy/flu-surveillance-and-research/
Catastrophists are wondering if Covid-19 is a slow motion extinction event. It might explain the approach China is taking, leaving nothing to chance.
If that is the case, what do the CCP know that they are not telling the rest of us?
Nothing. They take it seriously, most of the rest of the world is on a wing and a prayer.
Bloomberg surveillance just named NZ housing bubble as worst in world,and most likely to have substantive correction.(live no link yet)
They also forecast bitcoin to go to $400,000 in 2022.
Bitcoins price was argued up by the Purveyor's of the Ponzi scheme,an imaginary token that had no yield.
The housing bubble here where there are only 96 suburbs nationwide that have affordable homes ( around 500k at the median hose to median income ratio of 5) that has forced both costs in building due to over demand (133 % over commitment of building industry) has created a bubble that needs to break to allow housing to return to affordable levels.
Building a large number of unaffordable homes is unsustainable,when our national debt is increasing,the current account the highest in absolute terms,and interest rates for housing heading to double figures.
https://www.bloomberg.com/news/videos/2022-06-22/housing-markets-are-bubbling-all-over-the-world
Treasury forecast a pandemic recession and the RBG provided the government with QE money. The government used it to prevent a recession. Unfortunately the RBG also allowed QE cheap money to flow through into the housing market (sans removed deposit criteria). And kept the policy in place even when it was clearly wrong. So values went up 40% – a major mistake with consequences for generation rent.
It's bad enough that earlier moves to intensification resulted in rising land/property values.
1. because new housing supply was lower than migration demand
2. we allowed foreigners (and local speculators/land bankers) to enjoy CGT free profit
3. the collapse of finance companies and then tighter bank lending with the GFC (2007-2010 period) reduced construction finance for new builds.
1 All countries with QE and lowered interest rates are experiencing housing bubbles.
2 All countries that had central bank intervention,as well as Keynesian intervention for Infrastructure, (shovel ready projects etc) have experienced substantive material shocks and inflation.
3 Whilst NZ was playing catchup with excessive migration (which decreased wage growth and increased housing demand) a number of countries such as Australia experienced net losses of population( 500 k) across the pandemic and still have high housing costs and rental shortages.
4 Central bank responses globally are now to constrain inflation by interest rate intervention and QT ( qt by the rbnz is not programmed excluding transfers to treasury stock)
5 The US programme of wealth destruction is to remove unprofitable entities from the investment market,the effect on US existing house mortgages unless selling will be little as they are fixed for 30yr.
6 In response to the lowering of demand for new housing,US building costs ie retracted by 50% in Lumber,steel ,cement.(the benefit of a well informed market that limits traders over pricing)
7 Intensive housing developments do not reduce the cost of housing ie make more affordable,they only extend the time of the build,and AK there is only around an increase of 60% net electricity isolation nodes per 100 council compliance certificates.
Something possibly worth following.
A legal appeal has been filed by Wikipedia in the Russian courts against censorship and fines imposed on Wikipedia by the Russian govt. over the Wikipedia entry on the war in Ukraine.
It will be interesting to see what the outcome of this court case will be.
Possibly even more interesting will be the court transcript of the evidence presented in the court backing the wikipedia entry.