GFC 2 in the oven: trillion dollar bailouts

Written By: - Date published: 7:06 am, July 10th, 2015 - 26 comments
Categories: capitalism, class war, Economy, Financial markets, loan sharks - Tags:

The financial elite have set us all on course for Global Financial Crisis episode 2, as the limits of financial “extend and pretend” seem close to being breached. And boy is it going to be a biggie. Will “Grexit” trigger it? Or perhaps massive losses in the Chinese financial markets? Or some other rare but devastating ‘Black Swan‘ event (as described by Nassim Taleb)?

“Too big to fail” financial institutions were so labelled because their failure would pose systemic risks to the global economy (or so gullible/ignorant politicians were told while entire treasuries were held hostage by insolvent banks). But these ‘TBTF’ institutions are now bigger than ever while the global leadership class continues to engineer our societies for fragility and not for resilience.

tbtf

But just how big were the bank bail outs? BIG. Central banks created trillions in new money (warning – Heritage Foundation link!) to keep (literally) criminal financial institutions afloat. The total bail out figure may be as high as US$29 trillion. Prof L. Randall Wray goes into more detail here.

Matt Taibbi at Rolling Stone skillfully revealed the many official lies told around the bank bailouts: that there were no alternatives, that the public got its money back, etc.

Meanwhile, ordinary people live under the boot of daily austerity, ostensibly because there is ‘not enough money’  – which is a nonsense, especially if you understand that today, money is created ex nihlo (‘out of nothing’) by computer keystrokes (I’ll post some time on my All Blacks vs Japan analogy for that). In reality, “austerity” at its core is little more than a greed based exercise of power, financial repression and resource rationing.

Helicopter Ben's keyboard

This is all the result of choices made by the global leadership class whereby irresponsible bankers got bailed out to the tune of $$$$$ (and got huge bonuses), while householders, workers, small business people, retirees and even whole nations were left to quietly sink or swim on their own. In some cases, they have been deliberately held under water (Greece) or used as sacrificial geopolitical pawns (Ukraine).

Max Keiser describes one aspect of this system as “interest rate apartheid.” If you are a privileged financial insider, you get access to all the money that you want no questions asked, at near 0% interest rates (in fact, spouses of big bankers were found to have personally received millions in nearly free government funds). If you are an in-favour nation, then you can borrow using the markets at a low 2% or 3%. For ordinary individuals, being subject to 15% plus interest rates on personal loans and credit cards is commonplace.

debt-slavery-478x315

For those ‘untouchables’ at the very bottom of the financial heap cut off from routine sources of credit, annualised interest rates of hundreds of percent per annum apply. Yes, debt has long been an effective tool of political and social control, and interest rate apartheid numerically quantifies your current level of privilege in the system.

Depending on its timing, National will be probable electoral beneficiaries of GFC episode 2. Why? Because Andrew Little, Annette King, and Finance spokesperson initiate Grant Robertson won’t be able to overcome the “safe hands”, “don’t put it all at risk”, “steady as she goes” memes the MSM will tack on to the “proven experience and market credibility” of John Key and Bill English.

Laugh, cry or gnash your teeth, that’s just the way it is.

malcolm x

 

 

26 comments on “GFC 2 in the oven: trillion dollar bailouts ”

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  1. AsleepWhileWalking 1
    10 July 2015 at 8:20 am

    allstreetonparade.com/2015/07/china-stocks-and-the-new-york-stock-exchange-shutdown-the-untold-story/

    An estimated $1.4 trillion dollars worth (USD) of Chinese stocks are traded on the NYSE + Nasdaq is a much more likely reason for yesterdays lost four hours. (The official line is that the shutdowns x 3 were caused by a “software upgrade”).

    I think it’s safe to say that this was a deliberate intervention to stave off a 1987 style stock market collapse…for at least a month or two.

    Edit: Dave Hodges of the Common Sense Show interview with James White of The Liberty Brothers Radio Show discuss the recent cyber-attacks and how infrastructure is targeted next (connected to the next financial crash because it is the way TPTB use to control panic, yesterday was a rehearsal according to Hodges).
    https://www.youtube.com/watch?v=iVKOGwqjc0w

    • dukeofurl 1.1
      10 July 2015 at 10:18 am

      The NYSE is only one of 13 stock exchanges in US. A lot of stocks are privately traded in ‘dark pools’ as well. Most stocks can be traded on multiple exchanges.

      Hardly affected the trading as there is another option just a click away.

      Where did you get the figures for Chinese stocks- $1.4 trillion ?

      If you get a list , including HK and Taiwan, there is not more than 30 on NYSE and say 80 on NASDAQ

  2. ianmac 2
    10 July 2015 at 9:51 am

    Another one of those huge stories with huge possible outcomes which can frighten the daylights out we little people. What can I do about it? Like watching the Japanese tsunami – just watch and hope CV.

    • Colonial Viper 2.1
      10 July 2015 at 11:05 am

      Yep – and that fear is used as a form of control over people and indeed whole countries. For instance, I don’t think the poor treatment of Greece is predominantly about Greece at all – but as a warning and political control over other highly indebted EU nations: Ireland, Portugal, Spain and Italy.

  3. aerobubble 3
    10 July 2015 at 10:28 am

    Back whenever I made the point, that the GFC was the first correction that took markets by surprise, and the second would be when markets realize how to return to the new normal. As we have been seeing global conservative incumbents have been introducing led wing policies, even if the policies favor the 1% and retiries, those that vote with their money and those at the ballot box respectively.

    But let’s go back, and ask where did the first big chink in the armour of neo liberalism begin. I would suggest withe the massive collapse of a hedge fund, a black swan hit, Argentina I believe had a run on their currency, the hedge funds old have been fine, had Russia had not caused a second black swan. the purity of the ideology was corrupted forever, the high priestly wonks of finance faith in their eqns had been destroyed, they could no longer manage risk.

    Neo-liberalism was powered on the lie, that the growth from cheap high density fuels flowing out of the middle east was due to their vision of economics. That the great wealth creation built on wealth creation of the past was not due to their magic tomes on finance by a corrupt political philosophy that even left wing parties could neither contradict or buy into, so they joined up, adage of you can’t beat them bet a door to Murdoch and declare your undying faith to the new corruption.

    Our collective wealth has never come from the managers, they can only screw up, misdirect wealth, and steal off with it, otherwise its returned in multiplier forms to those, us all, who create value, rescue value, recycle monetary value. So govts can print money, build infra structure can fund health, or they can take on debt which transfers wealth to the financial sector, cut taxes which aids those who pay the most tax best, or they can cut services and take away yet more value from the masses. I.e screwup, misdirect and steal from the masses.

    There would be no world climate crises had neo liberalism not taken over, we’d have solve it by now, along with making the world more capitalist, turning the third world around long ago. The wealthiest are not stupid, they just don’t care since theycan’t take the wealth with them.

    • Colonial Viper 3.1
      10 July 2015 at 11:09 am

      Our collective wealth has never come from the managers

      Spot on – it has come from cheap flows of highly dense energy (as you mentioned) and from labour energy putting that supplementary fossil fuel energy to work extracting and processing goodness out of mother nature.

      • aerobubble 3.1.1
        14 July 2015 at 4:06 pm

        When Jobs of Apple sold his first PCs, it was people valuing them by buying them that reaped wealth for Steve jobs. Not the other way around. Jobs knew this that why it pained his naracissitic personality so much to have to produce what consumers wanted. Only big finance think they created wealth being so detached from its actuality.

  4. travellerev 4
    10 July 2015 at 10:53 am

    Wow…. Colonial Viper, we have come a long frigging way! Who would have thought that you would one day be a Standard writer! I bow to you!

    [CV’s actually been a TS author for a while. Like many though, he’s had a period of inactivity on the posting front. Hopefully CV 2.0 will feature more regularly! TRP]

  5. Ad 5
    10 July 2015 at 4:20 pm

    Sometimes CV it is better just to stop thinking and start drinking.

    Personally, I’m going to The Chills at Chicks Tavern tonight.

    You’re generating mighty sophisticated melancholy there. You’re beginning to remind me of Hardt and Negri. Which is a good thing.

    • Colonial Viper 5.1
      10 July 2015 at 6:56 pm

      Ah yes, Chicks Hotel a great venue. Sorry I can’t make it but have a great time 🙂

  6. johnm 6
    10 July 2015 at 6:38 pm

    Because we live in that time of the end of growth for following reasons:

    1. Peak Oil
    2.Climate Change
    3.Resource depletion on a massive scale: No more stuff left to rip off.
    4. Overpopulation and its demands

    Then we have trillions of derivatives based on non existent growth which expectations are being extracted from the poor including Greece.

    The agency of this shit system the banks have been bailed out to trillions.

    This rotten shit pile is living on borrowed time including the 100 fing billion we owe banking scum overseas thankyou Shonkey.

    • johnm 6.1
      10 July 2015 at 8:03 pm

      ” Economists insist that recovery is at hand, yet unemployment remains high, real estate values continue to sink, and governments stagger under record deficits. The End of Growth proposes a startling diagnosis: humanity has reached a fundamental turning point in its economic history. The expansionary trajectory of industrial civilization is colliding with non-negotiable natural limits.

      Richard Heinberg’s latest landmark work goes to the heart of the ongoing financial crisis, explaining how and why it occurred, and what we must do to avert the worst potential outcomes. Written in an engaging, highly readable style, it shows why growth is being blocked by three factors:

      Resource depletion Environmental impacts Crushing levels of debt
      These converging limits will force us to re-evaluate cherished economic theories and to reinvent money and commerce.

      The End of Growth describes what policy makers, communities, and families can do to build a new economy that operates within Earth’s budget of energy and resources. We can thrive during the transition if we set goals that promote human and environmental well-being, rather than continuing to pursue the now-unattainable prize of ever-expanding GDP. ”

      http://www.goodreads.com/book/show/11346572-the-end-of-growth

  7. keyman 7
    10 July 2015 at 6:50 pm

    stocks are pumped with all that printed money its vapor wealth here today gone tomorrow i remember 1987 it happens sudden and fast but like mitch feierstein said recently you haven’t seen nothing yet.

  8. keyman 8
    10 July 2015 at 7:03 pm

    the nats have put all our egg’s in one basket china take away dairy and ponzi housing market theres just a mountain of debt left in this country fuckin baby boomer’s have
    screwed us over

    • Jackp 8.1
      12 July 2015 at 1:21 pm

      Baby boomers? I think it’s the neoliberals that have screwed us royally be them a baby boomer or not. I am not for the banks being bailed out. Iceland is a good example why we should not bail the banks out. Gosh, what is happening in Greece is extremely tame compared to what the US banks stole from the taxpayers.

  9. tc 9
    10 July 2015 at 8:16 pm

    look at iceland laughing at those who got sucked into the ‘too big to fail’ BS.

    new ways and means are long overdue which will come from letting them burn to the ground as its obvious they are a broken and self serving bunch of crooks.

  10. Smilin 10
    10 July 2015 at 8:23 pm

    Yeah we heard Osbournes cure sounded like updated Maggie Thatcher
    Britain heading on course for a reality check when the 2016 crash really gets going
    Greece is only as big as Alabama economically yet they are 40% worse off
    As for us well another 50 billion could be where we end up when it all takes off
    Key should start losing it so he can get out without his ego smashed to pieces cause this will be bigger than anything he can bullshit us about.
    Sad part about us peaceful Kiwis we cant impeach the bastard

  11. Smilin 11
    10 July 2015 at 8:49 pm

    The other thing is China is reaching peak production therefore everything will stagnate which it can only do as the worlds population is approaching critical mass and uncontrollable decline is inevitable until real values, democracy,and the reality of the bs about money are addressed and fixed
    For instance who needs super rich sports for a starter only the 1%
    The rest of us have learnt to live without it, a dinky toy is as much fun

  12. Reddelusion 12
    10 July 2015 at 11:03 pm

    So you don’t scare the horses CV i doubt grexit will tigger next financial crisis as unlikely to happen and with Ecb unlimited put on European sovereign bonds this will maintain liquidity and any contagion issue. It also looks like for all Tsiparsa bluster and gaming by previous finance minister they have conceeded on a worse deal than they voted No to ( go figure?) Similarly China stock market is a very small part of chinese economy, has a history as a casino and limited public participation (10pc of pop). Thier banks are also not overly exposed. Saying all of that cv I do have some sympathy for your views, Not so much Neo liberal capitalism in regard to the real economy but I do think financial liberalisation and deregulation has gone to far, The financial sector should serve the real economy and societies needs, it appears the other way around at present, to much reliance on market discipline and self regulation a little more external regulation would not be be a bad thing

  13. Sable 13
    11 July 2015 at 12:13 pm

    The reality is we have been dragged backwards into 19th century style extremes of wealth and poverty, the haves and the have not’s. It can only get worse now the MSM have finally been brought to heel and the institutions that were meant to serve us all serve only a small percentage of the population at everyone else’s expense. I wonder how long this can last until enough people have decided they have had enough?

  14. AmaKiwi 14
    12 July 2015 at 6:31 pm

    An eighteenth century banker (sorry, I can’t find the quote) said mortgages were banking’s most brilliant invention. Mortgage payments are a form of rent except the bank has none of the responsibilities of a landlord. Credit cards are even more devastating.

    I grew up in a cash society (I can’t buy it until I have all the money) and watched it change into a credit card world (buy anything you want and charge it.)

    We can blame it on the banks for making this form of gambling socially acceptable. But we (the entire world) are now at a point where our collective debts (personal, corporate, and personal) are so enormous we can never repay them.

    This week China, Greece, and Puerto Rico all smashed into the debt brick wall. Expect overseas Chinese owners of Auckland real estate to start dumping property to raise cash to cover their debts at home.

    It’s just beginning. NZ and its people are heavily in debt. The deflation is coming here.

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  • FROM BFD: Will Winston be the spectre we think?
    Kissy kissy. Cartoon credit BoomSlang. The BFD. JC writes-  Allow me to preface this contribution with the following statement: If I were asked to express a preference between a National/ACT coalition or a National/ACT/NZF coalition then it would be the former. This week Luxon declared his position, ...
    Point of OrderBy poonzteam5443
    4 days ago

  • California’s climate disclosure bill could have a huge impact across the U.S.
    This re-post from Yale Climate Connections by Andy Furillo was originally published by Capital & Main and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. The California Legislature took a step last week that has the potential to accelerate the fight against climate ...
    Skeptical Science
    4 days ago

  • Untangling South East Queensland’s Public Transport
    This is a cross post Adventures in Transitland by Darren Davis. I recently visited Brisbane and South East Queensland and came away both impressed while also pondering some key changes to make public transport even better in the region. Here goes with my take on things. A bit of ...
    Greater AucklandBy Guest Post
    4 days ago

  • Try A Little Kindness.
    My daughter arrived home from the supermarket yesterday and she seemed a bit worried about something. It turned out she wanted to know if someone could get her bank number from a receipt.We wound the story back.She was in the store and there was a man there who was distressed, ...
    Nick’s KōreroBy Nick Rockel
    4 days ago

  • What makes NZFirst tick
    New Zealand’s longest-running political roadshow rolled into Opotiki yesterday, with New Zealand First leader Winston Peters knowing another poll last night showed he would make it back to Parliament and National would need him and his party if they wanted to form a government. The Newshub Reid Research poll ...
    PolitikBy Richard Harman
    5 days ago

  • September AMA
    Hi,As September draws to a close — I feel it’s probably time to do an Ask Me Anything. You know how it goes: If you have any burning questions, fire away in the comments and I will do my best to answer. You might have questions about Webworm, or podcast ...
    David FarrierBy David Farrier
    5 days ago

  • Bludgers lying in the scratcher making fools of us all
    The mediocrity who stands to be a Prime Minister has a litany.He uses it a bit like a Koru Lounge card. He will brandish it to say: these people are eligible. And more than that, too: These people are deserving. They have earned this policy.They have a right to this policy. What ...
    More Than A FeildingBy David Slack
    5 days ago

  • More “partnerships” (by the look of it) and redress of over $30 million in Treaty settlement wit...
    Buzz from the Beehive Point of Order has waited until now – 3.45pm – for today’s officially posted government announcements.  There have been none. The only addition to the news on the Beehive’s website was posted later yesterday, after we had published our September 26 Buzz report. It came from ...
    Point of OrderBy Bob Edlin
    5 days ago

  • ALEX HOLLAND: Labour’s spending
    Alex Holland writes –  In 2017 when Labour came to power, crown spending was $76 billion per year. Now in 2023 it is $139 billion per year, which equates to a $63 billion annual increase (over $1 billion extra spend every week!) In 2017, New Zealand’s government debt ...
    Point of OrderBy poonzteam5443
    5 days ago

  • If not now, then when?
    Labour released its fiscal plan today, promising the same old, same old: "responsibility", balanced books, and of course no new taxes: "Labour will maintain income tax settings to provide consistency and certainty in these volatile times. Now is not the time for additional taxes or to promise billions of ...
    No Right TurnBy Idiot/Savant
    5 days ago

  • THE FACTS:  77% of Kiwis believe NZ is becoming more divided
    The Facts has posted –        KEY INSIGHTSOf New Zealander’s polled: Social unity/division 77%believe NZ is becoming more divided (42% ‘much more’ + 35% ‘a little more’) 3%believe NZ is becoming less divided (1% ‘much less’ + 2% ‘a little less’) ...
    Point of OrderBy poonzteam5443
    5 days ago

  • Gordon Campbell on the cynical brutality of the centre-right’s welfare policies
    The centre-right’s enthusiasm for forcing people off the benefit and into paid work is matched only by the enthusiasm (shared by Treasury and the Reserve Bank) for throwing people out of paid work to curb inflation, and achieve the optimal balance of workers to job seekers deemed to be desirable ...
    Gordon CampbellBy lyndon
    5 days ago

  • Wednesday’s Chorus: Arthur Grimes on why building many, many more social houses is so critical
    New research shows that tenants in social housing - such as these Wellington apartments - are just as happy as home owners and much happier than private tenants. Photo: Lynn Grieveson / The KākāTL;DR: The election campaign took an ugly turn yesterday, and in completely the wrong direction. All three ...
    The KakaBy Bernard Hickey
    5 days ago

  • Bennie Bashing.
    If there’s one thing the mob loves more than keeping Māori in their place, more than getting tough on the gangs, maybe even more than tax cuts. It’s a good old round of beneficiary bashing.Are those meanies in the ACT party stealing your votes because they think David Seymour is ...
    Nick’s KōreroBy Nick Rockel
    5 days ago

  • The kindest cuts
    Labour kicks off the fiscal credibility battle today with the release of its fiscal plan. National is expected to follow, possibly as soon as Thursday, with its own plan, which may (or may not) address the large hole that the problems with its foreign buyers’ ban might open up. ...
    PolitikBy Richard Harman
    6 days ago

  • Green right turn in Britain? Well, a start
    While it may be unlikely to register in New Zealand’s general election, Britain’s PM Rishi Sunak has done something which might just be important in the long run. He’s announced a far-reaching change in his Conservative government’s approach to environmental, and particularly net zero, policy. The starting point – ...
    Point of OrderBy xtrdnry
    6 days ago

  • At a glance – How do human CO2 emissions compare to natural CO2 emissions?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    Skeptical Science
    6 days ago

  • How could this happen?
    Canada is in uproar after the exposure that its parliament on September 22 provided a standing ovation to a Nazi veteran who had been invited into the chamber to participate in the parliamentary welcome to Ukrainian President Zelensky. Yaroslav Hunka, 98, a Ukrainian man who volunteered for service in ...
    Open ParachuteBy Ken
    6 days ago

  • Always Be Campaigning
    The big screen is a great place to lay out the ways of the salesman. He comes ready-made for Panto, ripe for lampooning.This is not to disparage that life. I have known many good people of that kind. But there is a type, brazen as all get out. The camera ...
    More Than A FeildingBy David Slack
    6 days ago

  • STEPHEN FRANKS: Press seek to publicly shame doctor – we must push back
    The following is a message sent yesterday from lawyer Stephen Franks on behalf of the Free Speech Union. I don’t like to interrupt first thing Monday morning, but we’ve just become aware of a case where we think immediate and overwhelming attention could help turn the tide. It involves someone ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Competing on cruelty
    The right-wing message calendar is clearly reading "cruelty" today, because both National and NZ First have released beneficiary-bashing policies. National is promising a "traffic light" system to police and kick beneficiaries, which will no doubt be accompanied by arbitrary internal targets to classify people as "orange" or "red" to keep ...
    No Right TurnBy Idiot/Savant
    6 days ago

  • Further funding for Pharmac (forgotten in the Budget?) looks like a $1bn appeal from a PM in need of...
    Buzz from the Beehive One Labour plan  – for 3000 more public homes by 2025 – is the most recent to be posted on the government’s official website. Another – a prime ministerial promise of more funding for Pharmac – has been released as a Labour Party press statement. Who ...
    Point of OrderBy Bob Edlin
    6 days ago

  • Bryce Edwards: The Vested interests shaping National Party policies
    As the National Party gets closer to government, lobbyists and business interests will be lining up for influence and to get policies adopted. It’s therefore in the public interest to have much more scrutiny and transparency about potential conflicts of interests that might arise. One of the key individuals of ...
    Democracy ProjectBy bryce.edwards
    6 days ago

  • Labour may be on way out of power and NZ First back in – but will Peters go into coalition with Na...
    Voters  are deserting Labour in droves, despite Chris  Hipkins’  valiant  rearguard  action.  So  where  are they  heading?  Clearly  not all of them are going to vote National, which concedes that  the  outcome  will be “close”. To the Right of National, the ACT party just a  few weeks  ago  was ...
    Point of OrderBy tutere44
    6 days ago

  • GRAHAM ADAMS: Will the racists please stand up?
    Accusations of racism by journalists and MPs are being called out. Graham Adams writes –    With the election less than three weeks away, what co-governance means in practice — including in water management, education, planning law and local government — remains largely obscure. Which is hardly ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Gordon Campbell on whether Winston Peters can be a moderating influence
    As the centre-right has (finally!) been subjected to media interrogation, the polls are indicating that some voters may be starting to have second thoughts about the wisdom of giving National and ACT the power to govern alone. That’s why yesterday’s Newshub/Reid Research poll had the National/ACT combo dropping to 60 ...
    Gordon CampbellBy lyndon
    6 days ago

  • Tuesday’s Chorus: RBNZ set to rain on National's victory parade
    ANZ has increased its forecast for house inflation later this year on signs of growing momentum in the market ahead of the election. Photo: Lynn Grieveson / The KākāTL;DR: National has campaigned against the Labour Government’s record on inflation and mortgage rates, but there’s now a growing chance the Reserve ...
    The KakaBy Bernard Hickey
    6 days ago

  • After a Pittsburgh coal processing plant closed, ER visits plummeted
    This is a re-post from Yale Climate Connections by Katie Myers. This story was originally published by Grist and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. Pittsburgh, in its founding, was blessed and cursed with two abundant natural resources: free-flowing rivers and a nearby coal seam. ...
    Skeptical Science
    6 days ago

  • September-23 AT Board Meeting
    Today the AT board meet again and once again I’ve taken a look at what’s on the agenda to find the most interesting items. Closed Agenda Interestingly when I first looked at the agendas this paper was there but at the time of writing this post it had been ...
    Greater AucklandBy Matt L
    6 days ago

  • Electorate Watch: West Coast-Tasman
    Continuing my series on interesting electorates, today it’s West Coast-Tasman.A long thin electorate running down the northern half of the west coast of the South Island. Think sand flies, beautiful landscapes, lots of rain, Pike River, alternative lifestylers, whitebaiting, and the spiritual home of the Labour Party. A brief word ...
    Nick’s KōreroBy Nick Rockel
    6 days ago

  • Big money brings Winston back
    National leader Christopher Luxon yesterday morning conceded it and last night’s Newshub poll confirmed it; Winston Peters and NZ First are not only back but highly likely to be part of the next government. It is a remarkable comeback for a party that was tossed out of Parliament in ...
    PolitikBy Richard Harman
    7 days ago

  • 20 days until Election Day, 7 until early voting begins… but what changes will we really see here?
    As this blogger, alongside many others, has already posited in another forum: we all know the National Party’s “budget” (meaning this concept of even adding up numbers properly is doing a lot of heavy, heavy lifting right now) is utter and complete bunk (read hung, drawn and quartered and ...
    exhALANtBy exhalantblog
    7 days ago

  • A night out
    Everyone was asking, Are you nervous? and my response was various forms of God, yes.I've written more speeches than I can count; not much surprises me when the speaker gets to their feet and the room goes quiet.But a play? Never.YOU CAME! THANK YOU! Read more ...
    More Than A FeildingBy David Slack
    1 week ago

  • A pallid shade of Green III
    Clearly Labour's focus groups are telling it that it needs to pay more attention to climate change - because hot on the heels of their weaksauce energy efficiency pilot programme and not-great-but-better-than-nothing solar grants, they've released a full climate manifesto. Unfortunately, the core policies in it - a second Emissions ...
    No Right TurnBy Idiot/Savant
    1 week ago

  • New Zealand resumes peacekeeping force leadership
    New Zealand will again contribute to the leadership of the Multinational Force and Observers (MFO) in the Sinai Peninsula, Egypt, with a senior New Zealand Defence Force officer returning as Interim Force Commander. Defence Minister Andrew Little and Foreign Affairs Minister Nanaia Mahuta have announced the deployment of New Zealand ...
    BeehiveBy beehive.govt.nz
    1 hour ago

  • New national direction provides clarity for development and the environment
    The Government has taken an important step in implementing the new resource management system, by issuing a draft National Planning Framework (NPF) document under the new legislation, Environment Minister David Parker said today. “The NPF consolidates existing national direction, bringing together around 20 existing instruments including policy statements, standards, and ...
    BeehiveBy beehive.govt.nz
    4 hours ago

  • Government shows further commitment to pay equity for healthcare workers
    The Government welcomes the proposed pay equity settlement that will see significant pay increases for around 18,000 Te Whatu Ora Allied, Scientific, and Technical employees, if accepted said Health Minister Ayesha Verrall. The proposal reached between Te Whatu Ora, the New Zealand Public Service Association Te Pūkenga Here Tikanga Mahi ...
    BeehiveBy beehive.govt.nz
    5 hours ago

  • 100 new public EV chargers to be added to national network
    The public EV charging network has received a significant boost with government co-funding announced today for over 100 EV chargers – with over 200 charging ports altogether – across New Zealand, and many planned to be up and running on key holiday routes by Christmas this year. Minister of Energy ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Safeguarding Tuvalu language and identity
    Tuvalu is in the spotlight this week as communities across New Zealand celebrate Vaiaso o te Gagana Tuvalu – Tuvalu Language Week. “The Government has a proven record of supporting Pacific communities and ensuring more of our languages are spoken, heard and celebrated,” Pacific Peoples Minister Barbara Edmonds said. “Many ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • New community-level energy projects to support more than 800 Māori households
    Seven more innovative community-scale energy projects will receive government funding through the Māori and Public Housing Renewable Energy Fund to bring more affordable, locally generated clean energy to more than 800 Māori households, Energy and Resources Minister Dr Megan Woods says. “We’ve already funded 42 small-scale clean energy projects that ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Huge boost to Te Tai Tokerau flood resilience
    The Government has approved new funding that will boost resilience and greatly reduce the risk of major flood damage across Te Tai Tokerau. Significant weather events this year caused severe flooding and damage across the region. The $8.9m will be used to provide some of the smaller communities and maraes ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Napier’s largest public housing development comes with solar
    The largest public housing development in Napier for many years has been recently completed and has the added benefit of innovative solar technology, thanks to Government programmes, says Housing Minister Dr Megan Woods. The 24 warm, dry homes are in Seddon Crescent, Marewa and Megan Woods says the whanau living ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Te Whānau a Apanui and the Crown initial Deed of Settlement I Kua waitohua e Te Whānau a Apanui me...
    Māori: Kua waitohua e Te Whānau a Apanui me te Karauna te Whakaaetanga Whakataunga Kua waitohua e Te Whānau a Apanui me te Karauna i tētahi Whakaaetanga Whakataunga hei whakamihi i ō rātou tāhuhu kerēme Tiriti o Waitangi. E tekau mā rua ngā hapū o roto mai o Te Whānau ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Plan for 3,000 more public homes by 2025 – regions set to benefit
    Regions around the country will get significant boosts of public housing in the next two years, as outlined in the latest public housing plan update, released by the Housing Minister, Dr Megan Woods. “We’re delivering the most public homes each year since the Nash government of the 1950s with one ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Immigration settings updates
    Judicial warrant process for out-of-hours compliance visits 2023/24 Recognised Seasonal Employer cap increased by 500 Additional roles for Construction and Infrastructure Sector Agreement More roles added to Green List Three-month extension for onshore Recovery Visa holders The Government has confirmed a number of updates to immigration settings as part of ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Poroporoaki: Tā Patrick (Patu) Wahanga Hohepa
    Tangi ngunguru ana ngā tai ki te wahapū o Hokianga Whakapau Karakia. Tārehu ana ngā pae maunga ki Te Puna o te Ao Marama. Korihi tangi ana ngā manu, kua hinga he kauri nui ki te Wao Nui o Tāne. He Toa. He Pou. He Ahorangi. E papaki tū ana ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Renewable energy fund to support community resilience
    40 solar energy systems on community buildings in regions affected by Cyclone Gabrielle and other severe weather events Virtual capability-building hub to support community organisations get projects off the ground Boost for community-level renewable energy projects across the country At least 40 community buildings used to support the emergency response ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • COVID-19 funding returned to Government
    The lifting of COVID-19 isolation and mask mandates in August has resulted in a return of almost $50m in savings and recovered contingencies, Minister of Health Dr Ayesha Verrall announced today. Following the revocation of mandates and isolation, specialised COVID-19 telehealth and alternative isolation accommodation are among the operational elements ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Appointment of District Court Judge
    Susie Houghton of Auckland has been appointed as a new District Court Judge, to serve on the Family Court, Attorney-General David Parker said today.  Judge Houghton has acted as a lawyer for child for more than 20 years. She has acted on matters relating to the Hague Convention, an international ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government invests further in Central Hawke’s Bay resilience
    The Government has today confirmed $2.5 million to fund a replace and upgrade a stopbank to protect the Waipawa Drinking Water Treatment Plant. “As a result of Cyclone Gabrielle, the original stopbank protecting the Waipawa Drinking Water Treatment Plant was destroyed. The plant was operational within 6 weeks of the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Govt boost for Hawke’s Bay cyclone waste clean-up
    Another $2.1 million to boost capacity to deal with waste left in Cyclone Gabrielle’s wake. Funds for Hastings District Council, Phoenix Contracting and Hog Fuel NZ to increase local waste-processing infrastructure. The Government is beefing up Hawke’s Bay’s Cyclone Gabrielle clean-up capacity with more support dealing with the massive amount ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Taupō Supercars revs up with Government support
    The future of Supercars events in New Zealand has been secured with new Government support. The Government is getting engines started through the Major Events Fund, a special fund to support high profile events in New Zealand that provide long-term economic, social and cultural benefits. “The Repco Supercars Championship is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • There is no recession in NZ, economy grows nearly 1 percent in June quarter
    The economy has turned a corner with confirmation today New Zealand never was in recession and stronger than expected growth in the June quarter, Finance Minister Grant Robertson said. “The New Zealand economy is doing better than expected,” Grant Robertson said. “It’s continuing to grow, with the latest figures showing ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Highest legal protection for New Zealand’s largest freshwater springs
    The Government has accepted the Environment Court’s recommendation to give special legal protection to New Zealand’s largest freshwater springs, Te Waikoropupū Springs (also known as Pupū Springs), Environment Minister David Parker announced today.   “Te Waikoropupū Springs, near Takaka in Golden Bay, have the second clearest water in New Zealand after ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • More support for victims of migrant exploitation
    Temporary package of funding for accommodation and essential living support for victims of migrant exploitation Exploited migrant workers able to apply for a further Migrant Exploitation Protection Visa (MEPV), giving people more time to find a job Free job search assistance to get people back into work Use of 90-day ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Strong export boost as NZ economy turns corner
    An export boost is supporting New Zealand’s economy to grow, adding to signs that the economy has turned a corner and is on a stronger footing as we rebuild from Cyclone Gabrielle and lock in the benefits of multiple new trade deals, Finance Minister Grant Robertson says. “The economy is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Funding approved for flood resilience work in Te Karaka
    The Government has approved $15 million to raise about 200 homes at risk of future flooding. More than half of this is expected to be spent in the Tairāwhiti settlement of Te Karaka, lifting about 100 homes there. “Te Karaka was badly hit during Cyclone Gabrielle when the Waipāoa River ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Further business support for cyclone-affected regions
    The Government is helping businesses recover from Cyclone Gabrielle and attract more people back into their regions. “Cyclone Gabrielle has caused considerable damage across North Island regions with impacts continuing to be felt by businesses and communities,” Economic Development Minister Barbara Edmonds said. “Building on our earlier business support, this ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New maintenance facility at Burnham Military Camp underway
    Defence Minister Andrew Little has turned the first sod to start construction of a new Maintenance Support Facility (MSF) at Burnham Military Camp today. “This new state-of-art facility replaces Second World War-era buildings and will enable our Defence Force to better maintain and repair equipment,” Andrew Little said. “This Government ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Foreign Minister to attend United Nations General Assembly
    Foreign Minister Nanaia Mahuta will represent New Zealand at the 78th Session of the United Nations General Assembly (UNGA) in New York this week, before visiting Washington DC for further Pacific focussed meetings. Nanaia Mahuta will be in New York from Wednesday 20 September, and will participate in UNGA leaders ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Midwives’ pay equity offer reached
    Around 1,700 Te Whatu Ora employed midwives and maternity care assistants will soon vote on a proposed pay equity settlement agreed by Te Whatu Ora, the Midwifery Employee Representation and Advisory Service (MERAS) and New Zealand Nurses Association (NZNO), Minister of Health Dr Ayesha Verrall announced today. “Addressing historical pay ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New Zealand provides support to Morocco
    Aotearoa New Zealand will provide humanitarian support to those affected by last week’s earthquake in Morocco, Foreign Minister Nanaia Mahuta announced today. “We are making a contribution of $1 million to the International Federation of Red Cross and Red Crescent Societies (IFRC) to help meet humanitarian needs,” Nanaia Mahuta said. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in West Coast’s roading resilience
    The Government is investing over $22 million across 18 projects to improve the resilience of roads in the West Coast that have been affected by recent extreme weather, Prime Minister Chris Hipkins confirmed today.  A dedicated Transport Resilience Fund has been established for early preventative works to protect the state ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in Greymouth’s future
    The Government has today confirmed a $2 million grant towards the regeneration of Greymouth’s CBD with construction of a new two-level commercial and public facility. “It will include a visitor facility centred around a new library. Additionally, it will include retail outlets on the ground floor, and both outdoor and ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Nanaia Mahuta to attend PIF Foreign Ministers’ Meeting
    Foreign Minister Nanaia Mahuta will attend the Pacific Islands Forum (PIF) Foreign Ministers’ Meeting, in Suva, Fiji alongside New Zealand’s regional counterparts. “Aotearoa New Zealand is deeply committed to working with our pacific whanau to strengthen our cooperation, and share ways to combat the challenges facing the Blue Pacific Continent,” ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

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