Daily Review 28/01/2016

Written By: - Date published: 6:00 pm, January 28th, 2016 - 70 comments
Categories: Daily review - Tags:

David Shearer fish

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 …

70 comments on “Daily Review 28/01/2016”

  1. sabine 1

    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.

    • Paul 1.1

      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

      • Draco T Bastard 1.1.1

        There is a lot of evidence that the worlds’ economy is about to collapse.

        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.

    • alwyn 1.2

      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.

      • Paul 1.2.1

        If we operated at the level other countries work at, our currency would not be speculated on.

      • sabine 1.2.2

        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.

      • Muttonbird 1.2.3

        Liam Dann gets it…

        Current predictions are for about 2.4 per cent GDP growth this year. That’s a pretty good number by global standards.

        But growth underpinned largely by immigration and Government spending isn’t really sustainable growth.

        Emergencies measures will give the flagging economy a boost, lower rates will drive the dollar down and boost export returns, but these aren’t transformative solutions that this Government once talked about.

        http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11581216

      • Pat 1.2.4

        if negative interest rates and QE arnt working for europe what makes you think it’ll work for NZ?

        • alwyn 1.2.4.1

          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?

          • Pat 1.2.4.1.1

            “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

          • Draco T Bastard 1.2.4.1.2

            The reducing of interest rates has some effect but you have nowhere to go once you get down to zero.

            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.

            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.

            And that would be why you don’t give it to the banks/rich.

      • Draco T Bastard 1.2.5

        Most of the QE that went on may have provided money to the banks. They didn’t loan it though.

        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.

        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.

        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.

      • AmaKiwi 1.2.6

        They DID lend it out, but to merchant bankers (speculators) and giant corporations.

        As usual, trickle down never happened.

    • Paul 3.1

      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

      • Mr Burns 3.1.1

        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.

        • Pat 3.1.1.1

          excellent

        • AmaKiwi 3.1.1.2

          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?

          • Colonial Viper 3.1.1.2.1

            It’s a typical sign of a failing organisation to promote inexperience and incompetence, while punishing experience and competence.

      • Anne 3.1.2

        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 bitch woman not been ditched as a Labour Party member?

        • weka 3.1.2.1

          If they ditched her they’d have to ditch CV (and other dissenters to boot) 😉

          • Anne 3.1.2.1.1

            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.

            • weka 3.1.2.1.1.1

              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.

              • Anne

                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.

          • Colonial Viper 3.1.2.1.2

            If they ditched her they’d have to ditch CV (and other dissenters to boot

            ???

            What have you observed which makes you think that Labour acts with any internal consistency???

        • Olwyn 3.1.2.2

          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.

          • Anne 3.1.2.2.1

            Labour sources told ONE News that half the caucus expressed reservations as MPs met in Wairarapa to thrash out their position.

            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.

            • Olwyn 3.1.2.2.1.1

              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.

        • Paul 3.1.2.3

          She is part of the Shearer clique.

        • millsy 3.1.2.4

          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.

    • Colonial Viper 3.2

      “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.

      • Paul 3.2.1

        Let’s wait and see if Little how deals with this.

        • Colonial Viper 3.2.1.1

          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.

      • Hami Shearlie 3.2.2

        All this goes to show that the story that Cunliffe was the one causing division in the Party Caucus was a big fat lie!!

    • greywarshark 3.3

      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……….

      • maui 3.3.1

        To resemble the neo-liberal stench still emanating from Labour’s caucus?

      • Sacha 3.3.2

        to ensure he subsequently got more time for fishing.

        • greywarshark 3.3.2.1

          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?

  2. Pasupial 4

    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!

    “During every single TPP rally, I can’t recall any instances where protesters have been violent or aggressive.

    “Unless the police know something we don’t, the protesters have the absolute right to voice their concerns, as we live in a democracy.”

    Mr Nash said he didn’t blame frontline police for the tactic.

    “They’re just following a directive from above, and it would be good to know why the police hierarchy feel this is a necessary step, and it would be good to know if they actually know if the protesters plan to engage in civil disobedience.”

    Police said the visit was part of a national directive to visit activists in the lead up to Friday’s protests.

    There have been scattered reports of anti-TPP activists in Auckland being called or otherwise tracked down by the police for questioning about their protest plans.

    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:

    Open mike 28/01/2016

    • Anne 4.1

      “They’re just following a directive from above, and it would be good to know why the police hierarchy feel this is a necessary step…

      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.

    • Rosemary McDonald 4.2

      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.

    • Draco T Bastard 4.3

      And National takes us even closer to 1984.

  3. Muttonbird 6

    Bugger me, it gets worse…

    Another $400,000 added to bill
    The Ministry of Education updated the cost of the Whangaruru school from $4.8 million to $5.2 million dollars this afternoon.
    It said the extra $400,000 was a payment it was obliged to make for the first quarter of this year, even though the school will not be open.
    The money will be paid to the owners of the school, Nga Parirau Matauranga Trust, and the Ministry said only a portion of it will be recoverable.

    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.

    • b waghorn 6.1

      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.

  4. Tautuhi 7

    Maybe Key has dangled a carrot in front of Shearers nose?

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    . . This blogpost is different to my usual format of reporting on issues… Since July 1011, I have blogged on a variety of political issues; near always political and/or environmental; mostly highly critical of the previous National Government. Other issues included Israeli occupation of Palestinian lands and repression of ...
    Frankly SpeakingBy Frank Macskasy
    1 week ago
  • Police will have to wear silly Buckingham Palace hats from now on, says Police Minister
    Those close to the Police Minister believe the initiative may be the result of Nash “seeing a great deal” on AliExpress. In a move that comes seemingly out of nowhere, Police Minister Stuart Nash announced this afternoon that he expects all frontline staff to don bearskin hats, famously worn by ...
    The CivilianBy admin
    1 week ago
  • A sensible crackdown
    The government has released its Arms Legislation Bill, containing the second tranche of changes to gun laws following the March 15 massacre. And it all looks quite sensible: a national gun register, higher penalties for illegal possession and dealing, tighter restrictions on arms dealers and shooting clubs, and a shorter ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • California bans private prisons
    Private prisons are a stain on humanity. Prison operators explicitly profit from human misery, then lobby for longer prisons terms so they can keep on profiting. And in the US, prison companies run not only local and state prisons, but also Donald Trump's immigration concentration camps. Faced with this moral ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Why PPPs are a bad idea
    When National was in power, they were very keen on Public-Private Partnerships (PPPs) - basicly, using private companies to finance public infrastructure as a way of hiding debt from the public. They were keen on using them for everything - roads, schools, hospitals. But as the UK shows, that "service" ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • A Movement That No Longer Moves.
    Moving And Shaking: There was a time when people spoke matter-of-factly about the “labour movement” – a political phenomenon understood to embrace much more than the Labour Party. Included within the term’s definition was the whole trade union movement – many of whose members looked upon the Labour Party as ...
    1 week ago
  • NZ ‘left’ politically embracing extreme postmodernism
    by Philip Ferguson Much of the left, even people who formally identify as marxists, have collapsed politically in the face of postmodern gender theory of the sort pioneered by American philosopher Judith Butler. For Butler even biological sex is socially constructed. “If the immutable character of sex is contested, perhaps ...
    RedlineBy Daphna
    1 week ago
  • The obvious question
    The media is reporting that the (alleged) Labour party sexual assaulter has resigned from their job at Parliament, which means hopefully he won't be turning up there making people feel unsafe in future. Good. But as with everything about this scandal, it just raises other questions. Most significantly: why the ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The moment I found out that you found out, I acted swiftly
    By Prime Minister Jacinda Ardern I am every bit as angry as you are. I am every bit as disappointed as you must be. The people with power, oversight and the ability to do something about these processes within the Labour Party should be ashamed. Whoever those people are, I ...
    The CivilianBy admin
    1 week ago
  • This is why people hate property developers
    Property developers think there is an "oversupply" of houses in Auckland:High turnover rates and falling prices may be a sign that there are too many new houses going in to some parts of Auckland, commentators say. [...] Property developer David Whitburn said there was a "bit of an oversupply" in ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Australia to Pacific: “Fuck you, you can all drown”
    World leaders are meeting in New York in two weeks for the 2019 Climate Action Summit, where they are expected to announce new and more ambitious targets to stop the world from burning. But the Australian Prime Minister won't be there, despite being in the USA at the time:Scott Morrison ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Implausible ignorance
    Labour Party president Nigel Haworth resigned yesterday over the party's sexual assault scandal. But while that's good news, its unlikely to take away the stench of a coverup. Because according to Paula Bennett in Parliament yesterday, pretty much everyone in the Prime Minister's office was involved as well:I have been ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Labour’s Fatal Flaw.
     Two-Faced? Labour insiders' commitment to the neoliberal status quo puts them at odds with their party’s membership; its trade union affiliates; and a majority of Labour voters, but this only serves to strengthen the perception they have of themselves as a special elite. Among the lesser breeds, they’ll talk up a ...
    1 week ago
  • Ten reasons the Tories do NOT want an election
    There has been a lot of talk about Boris Johnson wanting an election, and he has blustered with great gusto about 'chicken' Jeremy Corbyn refusing one, but I think there are many reasons why he is secretly glad he has been refused the opportunity:The Tories are an utter rabble,tearing themselves ...
    1 week ago
  • Prorogation Illegal, rule Scottish judges
    Scottish appeal court judges have declared that Boris Johnson’s decision to suspend parliament in the run-up to the October Brexit deadline is unlawful. The three judges, chaired by Lord Carloway, Scotland’s most senior judge, overturned an earlier ruling that the courts did not have the powers to interfere in the prime ...
    1 week ago
  • Let me explain what I meant by Everyday New Zealanders
    By Simon Bridges. The following is a press release from the office of Simon Bridges, leader of The National Party. Key ora, New Zealand. Happy Maori Language Week. Look, I’m writing to you today because I want to clear something up. There’s been a lot of kerfuffle around some things ...
    The CivilianBy admin
    1 week ago
  • Yes, the SIS is subject to the Public Records Act
    I understand there's some stuff going round about how the SIS "was removed from the list of public offices covered by the Public Records Act in 2017". The context of course being their records derived from US torture, which will be disposed of or sealed. The good news is that ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • An evidence-based discussion of the Canadian fluoride/IQ study
    Dr. Christopher Labos and Jonathan Jarry discuss the recent Canadian fluoride/IQ research. They provide an expert analysis of the paper and its problems. Click on image to go to podcast. The critical debate about the recent ...
    1 week ago
  • Climate Change: Australia in denial
    Australia is burning down again, and meanwhile its natural disaster minister is denying climate change:Australia’s minister responsible for drought and natural disasters, David Littleproud, has said that he doesn’t “know if climate change is manmade”. Clarifying earlier comments that the question is “irrelevant” when considering the Coalition government’s response to ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Philippines activist speaking on the Duterte tyranny
    Auckland Philippines Solidarity is excited to host Professor Judy Taguiwalo for a speaking tour of NZ in September. She is a well-known activist in the Philippines and was a political prisoner under the Marcos dictatorship. Professor Taguiwalo briefly served as a Cabinet member under President Duterte but was forced from ...
    RedlineBy Daphna
    1 week ago
  • Disgust
    I have no special insights to offer on the Labour sexual assault coverup. All I have is disgust. Disgust that an organisation could fail its people so badly. Disgust that they punished the victims rather than the perpetrator. Disgust that its party hacks are apparently blaming the victims for demanding ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Speak Up for Women calls out Greens’ censorship
    This open letter to the Green Party was penned after an opinion piece by Jill Abigail, a feminist and founding member of the party, was censored by the Greens’ leadership. (Redline has reprinted her article here).The intolerance of the Green Party leaders and their acceptance of the misogyny of gender ...
    RedlineBy Daphna
    1 week ago
  • Member’s Day: End of Life Choice, part 3
    Today is a Member's day, and David Seymour's End of Life Choice Bill continues its slow crawl through its committee stage. They're spending the whole day on it today, though the first hour is likely to be spent on voting left over from last time. After that they'll move on ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Flight to Los Angeles turned back after passengers decide they don’t want to go anymore
    An ambitious plan to fly to Los Angeles petered out into a brief sight-seeing trip and a desire to return home and get some sleep before work tomorrow. Air New Zealand has confirmed a flight to Los Angeles last night was turned back about a quarter of the way into ...
    The CivilianBy admin
    2 weeks ago
  • Indigenous Futures: defuturing and futuring – an analytical framework for policy development?
    There appears to be consensus – by omission – that the concept of indigenous futures should be accepted at face value. So I scavenged the internet to see if I could locate an academic descriptor or a framework around how we think about it as a concept, and whether it ...
    EllipsisterBy Ellipsister
    2 weeks ago
  • Cadbury rumoured to be releasing the Pineapple Trump
    Here’s another novelty chocolate to shove in your gob, New Zealand Cadbury could be seeking to make itself great again with a rumoured new release: Pineapple Trumps, a spin on its classic chocolate-encased pineapple treat and do-it-yourself tooth remover. The global confectionery manufacturer and bumbling “before” character in an infomercial, ...
    The CivilianBy admin
    2 weeks ago
  • The coming resource war.
    During my time in the Pentagon I had the privilege of sitting down with military leaders and defence and security officials from a variety of Latin American nations. Sometimes I was present as a subordinate assistant to a senior US defence department official, sometimes as part of a delegation that ...
    KiwipoliticoBy Pablo
    2 weeks ago
  • Māori Language Week with The Civilian
    Kia ora, Aotearoa. It’s that magical time of year. Te Wiki o te Reo Māori. In English, the week that frightens talk radio. As you probably know by now, all your favourite media outlets are participating, some more successfully than others. Stuff has changed its name to Puna for the ...
    The CivilianBy admin
    2 weeks ago
  • Will Horizons act on climate change?
    Local body elections are coming up next month. And it looks like all Palmerston North candidates for Horizons (the Manawatu-Whanganui Regional Council) want to take action on climate change:Climate change is set to be a key issue in Palmerston North for the next three years if those wanting to get ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • BORA reform is stalled
    Eighteen months ago, the government promised to strengthen the Bill of Rights Act, by explicitly affirming the power of the courts to issue declarations of inconsistency and requiring Parliament to formally respond to them. So how's that going? I was curious, so I asked for all advice about the proposal. ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Corbyn and Brexit
    As the Brexit saga staggers on, the focus is naturally enough on the Prime Minister and his attempts to achieve Brexit “do or die”. But the role played by the Leader of the Opposition is of almost equal interest and complexity. The first problem for Jeremy Corbyn is that he ...
    Bryan GouldBy Bryan Gould
    2 weeks ago
  • A ditch for him to die in
    Last week, English Prime Minister Boris Johnson boldly declared that he would rather die be dead in a ditch than delay Brexit. Unfortunately for him, the UK parliament accepted the challenge, and promptly dug one for him. The "rebellion bill" requires him to ask for and secure yet another temporary ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Warning! Warning! Danger Jacinda Ardern! Danger Marama Davidson! Warning!
    Lost In Political Space: The most important takeaway from this latest Labour sexual assault scandal, which (if I may paraphrase Nixon’s White House counsel’s, John Dean’s, infamous description of Watergate) is “growing like a cancer” on the premiership, is the Labour Party organisation’s extraordinary professional paralysis in the face of ...
    2 weeks ago

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