Daily review 28/08/2023

Written By: - Date published: 5:30 pm, August 28th, 2023 - 11 comments
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Daily review is also your post.

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

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11 comments on “Daily review 28/08/2023 ”

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  1. Kat 1
    28 August 2023 at 5:39 pm

    Everything being thrown at the govt…..watch out for the usual motorbikes and kitchen sinks……..

    Jessica @6.pm will be revelling in all this freedumb action……..

    https://www.stuff.co.nz/southland-times/news/132826824/groundswell-nz-to-hit-the-road-again

  2. arkie 2
    28 August 2023 at 6:09 pm

    To the surprise of no one:

    Businesses have been returning record profits while inflation surges during the cost of living crisis, new research shows.

    The study was designed to emulate analysis done overseas by the European Central Bank and a number of other research institutes, and was carried out by FIRST Union, the Council of Trade Unions and the lobby group Action Station.

    It came after a report from Business NZ earlier in the year that said inflated profits were not the driving force behind rising costs in New Zealand.

    …

    …during the main period of rising costs, from mid 2021 to the end of 2022, Miller said the profit contribution accounted for 55 percent of pressure on the GDP deflator, while wages were less than a third at 28 percent.

    https://www.rnz.co.nz/news/national/496752/business-profits-contributed-significantly-to-recent-rising-costs-study-finds

    • alwyn 2.1
      28 August 2023 at 6:53 pm

      To the surprise of no one.

      A study produced by FIRST Union, the Council of Trade Unions and the lobby group Action Station (which is pretty much left aligned) come to the conclusion that it is those evil companies that are responsible for inflation.

      As you say. That is "To the surprise of no one". Just as the study by Business New Zealand found profits were not the driving force and that labour costs were more to blame.

      • arkie 2.1.1
        28 August 2023 at 7:31 pm

        That's right alwyn, you can read and parse what I was pointing out. I admit that does surprise me.

      • UncookedSelachimorpha 2.1.2
        28 August 2023 at 10:37 pm

        The disagreement in the conclusions of the two reports is stark, and I would like to understand why. They both used very different methodologies, but I haven't spent the time getting to the bottom of it…I hope someone more knowledgeable than I does it for me! Also haven’t found a link to the actual new report yet.

        The business NZ one did exclude the financial sector – which includes the very many billions of record bank profits.

      • UncookedSelachimorpha 2.1.3
        28 August 2023 at 10:52 pm

        The new report includes considerable discussion on why their conclusion is different to the Business NZ report (e.g. pages 11-13 of the new report). And their explanations make a lot of sense.

        For example, the Business NZ report discusses profit margins but not total profit – while at the same time noting large increases in input costs (and of course, same margin with higher input cost = higher profit).

        And the Business NZ exclusion of the financial sector was silly (they justified it by saying it was just too hard to analyse using their methodology) – this sector makes up a huge part of the relevant profit. Excluding this and just publishing (and publicising) their report anyway, makes you think the Business NZ report was mostly an execise in PR, than actual investigation.

  3. Kat 3
    28 August 2023 at 6:20 pm

    And this from Luxon…..You are no Slim Shady…..he obviously considers the 'heckler' to be not evil and mischievous, and come and talk to me in private……interesting, shades of Brash and the seven dazed adventurers……

    https://www.stuff.co.nz/national/politics/132828367/christopher-luxon-tells-heckler-hes-no-slim-shady-after-being-told-to-please-stand-up-at-hijacked-media-event

    You couldn’t make madness this up…..could you….

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