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notices and features - Date published:
6:00 pm, January 28th, 2016 - 70 comments
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The current rise of populism challenges the way we think about people’s relationship to the economy.We seem to be entering an era of populism, in which leadership in a democracy is based on preferences of the population which do not seem entirely rational nor serving their longer interests. ...
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interesting article about more doom and gloom in the money markets…but then as they say, what goes up must fall down like an apple at some stage or something like that, after all I am not an economist.
http://www.businessinsider.com/ray-dalio-ft-opinion-long-term-debt-2016-1
the comments are very interesting too.
There is a lot of evidence that the worlds’ economy is about to collapse.
A China Bank Contagion Could Blow Up Global Markets
http://www.cnbc.com/2016/01/26/chinese-bank-outlook-in-2016.html
Zombie ships send maritime freight into worst crisis in living memory
http://www.telegraph.co.uk/finance/12108453/Zombie-ships-send-maritime-freight-into-worst-crisis-in-living-memory.html
So Yes, the Oil Crash Looks a Lot Like Subprime
http://www.bloomberg.com/news/articles/2016-01-25/so-yes-the-oil-crash-looks-a-lot-like-subprime
I know I’m being pedantic here but what’s about to collapse is the world’s financial system and it’s going to collapse because it’s become disconnected from the real economy, disconnected from reality.
Be grateful we still have a bit of room to play with.
We are at 2.5%. The US Fed is currently at 0.5%. If we need to we can still lower the rate a bit.
There was an old saw about monetary policy. It was described as a rope. You could hold down economic activity, by pulling on it. You couldn’t expand the activity by pushing.
Most of the QE that went on may have provided money to the banks. They didn’t loan it though.
If we operated at the level other countries work at, our currency would not be speculated on.
this is from one of the comments under the post. Not sure if you bothered to read, but anyways
ponder this, and see how it applies to NZ
Quote: “In our present system, if everyone took every dollar they had and used it to pay off debt, there would be no money left — because ALL the money came from debt. You can’t have wealth when your system is based on Debt”
rock star economy – one hit wonder, and other assorted bullshit.
Liam Dann gets it…
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11581216
if negative interest rates and QE arnt working for europe what makes you think it’ll work for NZ?
I don’t. That is certainly NOT what I was trying to say., and rereading my comment I don’t think it is what I said.
The reducing of interest rates has some effect but you have nowhere to go once you get down to zero. Negative rates will never work, as long as you have currency. It isn’t very safe but you can always store some bank notes under your mattress.
We still have a little bit of interest rate movement to play with if we need to. The US and Europe don’t.
QE? I don’t think it can possibly work if the banks, who basically get the money, simply sit on it and don’t make loans. If they get lots of extra money and loan it out wildly we will get inflation. We haven’t had inflation after the supposed QE because there wasn’t any easing was there?
“Be grateful we still have a bit of room to play with.
We are at 2.5%. The US Fed is currently at 0.5%. If we need to we can still lower the rate a bit.”
what were you trying to say then?
“Negative rates will never work, as long as you have currency”
of course not, that is not what they are designed for.
“We haven’t had inflation after the supposed QE because there wasn’t any easing was there?”
there has been and continues tone plenty of easing….into a sharemarket bubble and safe(?) government bonds….not into the productive economy where it was supposed to go to create the demand and inflation.
The banks know there is no safe course of action and are scared shitless…and so they should be
Interest rates should always be at zero. Interest rates actually damage our society and this has been known for thousands of years. The bludgers want to keep them though so that they can get income without having to work.
And that would be why you don’t give it to the banks/rich.
We already knew that. And loaning it out would have made things worse off. It needed to be given directly to the people. I like Steve Keen’s idea of given everyone an equal amount but ensure that it’s used to pay down debt first.
And like many old saws it’s complete bollocks. Sounds good but conveys no information or wisdom at all.
So, that would be just like all of the Right-wings slogans.
They DID lend it out, but to merchant bankers (speculators) and giant corporations.
As usual, trickle down never happened.
RIP Bob Tizard …
http://www.radionz.co.nz/news/national/295174/long-serving-labour-mp-bob-tizard-dies
Andrew Little wants to have a discussion with David Shearer …
http://www.stuff.co.nz/national/politics/76347278/David-Shearer-faces-consequences-for-not-toeing-Labour-line-on-TPPA-Little
Good.About time these neo-liberals learnt some discipline.
‘David Shearer to be censured over breaking Labour line on TPP’
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11581234
If one of my underlings behaved like this the hounds would be called double quick. The rest would expect this. Otherwise they might think that I had gone soft.
excellent
David Cunliffe would have been drawn and quartered for much less.
Come to think of it, he was. I can’t have confidence in a leader who puts some of his most talented people on the back benches and promotes inexperience to the front?
It’s a typical sign of a failing organisation to promote inexperience and incompetence, while punishing experience and competence.
Josie Pagani puts the boot into Labour and Little for the umpteenth time.
https://www.tvnz.co.nz/one-news/new-zealand/the-signal-is-confusing-divisions-in-labour-over-opposition-to-tpp
Why has this
bitchwoman not been ditched as a Labour Party member?If they ditched her they’d have to ditch CV (and other dissenters to boot) 😉
Josie Pagani is different. She has set herself up as a “progressive” Labour member and proceeds to undermine Labour in public forums on TV, radio and in the newspapers. I doubt she privately communicates with anyone in or close to the Labour hierarchy about her concerns. Rather, as a lover of the limelight, she spends her time publicly undermining Little through the MSM at every opportunity – just as she did with Cunliffe. She’s a charlatan.
Do you know if Labour have ever thrown out a high profile member? The Greens did a couple of years ago, but I can’t remember what the process was.
In the past there have been members expelled but usually following police prosecution for unlawful activities such as theft or fraud. The most well known was Taito Phillip Field. I think others who have earned the displeasure of the party have simply been frozen out of contention for any office holding position, and that is usually enough to see them drop out of the party.
I assume there is no such leverage over Pagani, that’s she just an ordinary member now?
Easy enough to apply leverage to media, given relevant nous. Cut the access to compliant megaphones.
We wish that Labour would be so smart.
???
What have you observed which makes you think that Labour acts with any internal consistency???
You left out the 😉
What Pagani says is predictable, and that she is often asked to say something is equally predictable. You would think that by now she would be getting a bit short on inside information. This is the bit that concerned me, “… Labour sources told ONE News that half the caucus expressed reservations as MPs met in Wairarapa to thrash out their position.” These people are supposedly well paid professionals, and its about time they grew up and learned when to shut up.
I have a strong suspicion Olwyn that claim might be a misrepresentation – or an exaggerated version – of what they did say. I appreciate some of them were still a little unsure which way to go prior to the meeting, but the whole tenor of that TV1 clip told me it was an attempt to undermine Little and Labour – hence the reason they are happy to use Josie Pagani.
My point is that caucus numbers seem to have been leaked to them, whether they are true or not. Goff and Shearer came out against the party’s position – Goff with a concession to do so. OK. But what goes on in caucus should stay in caucus. We have had enough of this kind of crap over the past few years.
If this is what has happened then I have some sympathy (not really) with the culprit. I suspect a dressing down from Little would not be a pleasant experience. 🙂
No sympathy. Deal to them decisively and firmly. We have all seen 8 years of not doing do.
Someone in Labour is still leaking emails to the Nats: https://twitter.com/MatthewHootonNZ/status/692610103724212224
I was being sarcastic with the use of the word ‘sympathy’. I have no doubt Little will weed them out and give then the bollocking of their lives.
She is part of the Shearer clique.
I know.
She needs to realise that handing businesses veto rights over our lawmaking is NOT core left wing progressive principles. Quite the opposite infact.
The progressive socialist left wing movement was formed because people got sick of working in unsafe dangerous factories and coal mines for long hours, little pay and no breaks. The TPPA is designed to drag health and safety, labour laws, etc down to the the lowest level.
“A discussion”? If Cunliffe had been the one to speak out, Little and Robertson would have ripped Cunliffe a new one in five seconds flat.
Let’s wait and see if Little how deals with this.
I hardly think we need to wait and see. It’s already highly predictable.
All you need to know is that Little had almost no support in the Labour caucus during the leadership election; on the other hand, Shearer still has the support of the key MPs who originally pushed him into the leadership role as well as all the ‘free market imperial globalists’ in the Labour caucus.
It is said Shearer will be censured.
He had better at least be removed from the select committee considering TPP law changes, given his inability to represent his party’s position for even a day. Anything less is a wimp out.
Wonderful opportunity for Goff & Shearer to run a joint ticket for the Auckland super city mayoralty/deputy mayoralty as Independents.
Time for Labour to rid themselves of those two ruinous individualists.
Gee thanks. What did Auckland do to deserve that fate? 🙂
+1
Oh don’t spoil CVS fun with the thought that their is possible a leader in labour.
GR2020
“It’s already highly predictable.”
Why don’t you tell us then? Be specific.
I’m not Nostradamus. But the overall outline is clear. Shearer will suffer punishment by wet bus ticket.
Fuck me how much is slater paying you??
Lol.
Laugh it up while you can. As sacha above notes, Shearer should at least be removed from the select committee considering TPP law changes.
Bet you he won’t be. Wet bus ticket punishment.
All this goes to show that the story that Cunliffe was the one causing division in the Party Caucus was a big fat lie!!
What was the point of Shearer’s waving fish around in Parliament?
And who are the two brawny guys who fronted up on Daily Review on 11/9/15?
Questions……….
To resemble the neo-liberal stench still emanating from Labour’s caucus?
to ensure he subsequently got more time for fishing.
Thanks you two I award you both chocolate fish, which on second thoughts will only get spoilt in transit so I’ll eat them myself and think of you.
But seeing you are so up with it, what about my query about the Mr Nature guys showing off their abs? Who, what, why?
I skipped over this bit when I saw Nash’s name, but on re-reading it does have some good points. Also admission by police of National Directive for activist intimidation leading up to TPPA signing!
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11581217
[I have been commenting about this over on Open Mike – for context:
http://thestandard.org.nz/open-mike-28012016/#comment-1124924%5D
Because the “national directive” comes from the PM’s Office? I expect so. It only needs a nod and a wink from the PM’s chief of staff and the police hierarchy know exactly what is expected of them.
It would be so interesting to know where those orders came from.
The officers said they were following a national directive and were “visiting all known activists in the country”.
A couple of questions.
Who creates national directives? The GCSB?
Has anyone else been visited?
Ominous.
http://www.stuff.co.nz/national/76357346/tppa-activist-visited-by-dunedin-police
SIS is the agency that wastes public funds spying on animal activists etc, and working with the cops. Now who’s the current Minister of Police ..?
We have been promised a family friendly gathering, and a noisy but peaceful stroll down Queen St.
Placards and flags optional but desired.
Bring sunhats and plenty of drinks.
Let’s set a record.
And National takes us even closer to 1984.
Bugger me, it gets worse…
http://www.radionz.co.nz/news/political/295135/charter-school-a-waste-of-public-money-ppta
…I assume Farrar and the Taxpayers Union will be all over this tomorrow.
Dear Mr key I have a barely used bridge in London , as you are a very astute business man I would love to give you the first option of purchase on said bridge. At no extra cost I will let you pay me twice for this bridge.
Yours b waghorn esq.
Maybe Key has dangled a carrot in front of Shearers nose?