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”

  1. AsleepWhileWalking 1

    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).

    • dukeofurl 1.1

      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

    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

      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

    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

      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

        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. 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

    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

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

  6. johnm 6

    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

      ” 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

    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

    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

      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

    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

    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

    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

    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

    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

    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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  • “Manifest” by Andrew Bird – A Song For The Times.
    I came across this song quite by accident. If it isn't one of Greta Thunberg's favourites - it should be.Video courtesy of YouTube.This post is exclusive to Bowalley Road. ...
    1 week ago
  • Passing the buck
    Last month, NZDF's shoddy coverup of what it knew about civilian casualties in Operation Burnham began to fall apart, with the revelation that a report on the matter, which NZDF claimed not to have, had been sitting in an NZDF safe for the past nine years. Yesterday, the man responsible ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • India a major player in Earth observation satellites
    While many imagine that countries like the USA and Europe dominate space activities, in fact India is now a major player on this stage. It launches satellites for its own purposes and also commercially, and has constellations orbiting our planet and returning data of vital importance to that nation in ...
    SciBlogsBy Duncan Steel
    1 week ago
  • The rot at the top (2).
    Thanks to a report from the Acting Inspector General of Intelligence and Security following a complaint by Nicky Hager, we have come to find out that the SIS illegally spied on Mr. Hager on behalf of the NZDF after publication of Hager’s 2011 book, Other People’s Wars. The NZDF justified ...
    KiwipoliticoBy Pablo
    1 week ago
  • Common misconceptions about “Global Warming”
    COMMON MISCONCEPTIONS ABOUT GLOBAL WARMING MYTH 1: Global temperatures are rising at a rapid, unprecedented rate. FACT: The HadCRUT3 surface temperature index, produced by the Hadley Centre of the UK Met Office and the Climate Research Unit of the University of East Anglia, shows warming to 1878, cooling to 1911, ...
    An average kiwiBy admin@averagekiwi.com
    1 week ago
  • A climate of tyranny
    For the past week, Extinction Rebellion has been peacefully protesting in London to demand action on climate change. The British government's response? Ban their protests:Police have banned Extinction Rebellion protests from continuing anywhere in London, as they moved in almost without warning to clear protesters who remained at the movement’s ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Collins crushes climate
    An essay by Judith Collins MP reported on Carbon News yesterday seems to show an alarming shift in attitude within the National Party. Collins argues against the Zero Carbon Bill, the Paris Agreement, and downplays the magnitude of climate impacts. The Paris Agreement was adopted in December 2015 and ratified ...
    SciBlogsBy Robert McLachlan
    1 week ago
  • More disappointment
    When they were running for election, Labour promised to overhaul the Employment Relations Act and introduce fair pay agreements to set basic pay and conditions on an industry level, preventing bad employers from undercutting good ones. They followed this up by establishing a working group, which reported back in January ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • What do these mother-child studies really say about fluoridation?
    A list of indicators of bad science – many of these are found in articles promoted by anti-fluoride activists. Anti-fluoride activists have been pouring money into a scaremongering campaign warning pregnant women not to drink fluoridated water. They claim fluoride will lower the IQ of their future child. Fluoride ...
    1 week ago
  • Losing Labour’s Mills-Tone.
    Nothing Left To Say: Labour's pollster, Stephen Mills, remains swaddled-up in the comforting myths of the 1980s. As if the experience of Roger Douglas’s genuinely radical post-Muldoon policy agenda was literally a once-in-a-lifetime thing – as much as the party could possibly absorb for at least the next 50 years.MEMO ...
    1 week ago
  • Speaker: Disability and the Royal Commission of Inquiry into Historical Abuse
    The Royal Commission on abuse in care is very significant for the disability community. For many decades last century, thousands of disabled children, and adults who managed to survive, were locked away from families and communities. This was not for anything they had done, but for the perceived threat their ...
    1 week ago
  • Spain is not a democracy
    No Right TurnBy Idiot/Savant
    1 week ago
  • UK Conservatives hate democracy
    With an unfair voting system, uneven electorates and an un-elected upper house, the UK's "democracy" is barely worthy of the name. But now the government wants to make it worse:The government has been accused of suppressing voters’ rights with the potential disenfranchisement of tens of thousands of people after plans ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • What is wrong with our building industry?
    Back in the 90's and early 2000's, the building industry was building leaky homes which should never have been granted consent. Now it turns out they've been building dodgy office blocks as well:New imaging technology has revealed hundreds of major buildings nationwide have defective or missing concrete or reinforcing steel. ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Local bodies
    Local body election results were released over the weekend, to joy or despair depending on where you live. In Auckland, Phil Goff trounced John Tamihere, who is muttering darkly about running for Parliament again (but which party would want him?) Wellington is now a wholly-owned subsidiary of Weta Workshop, except ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • A future of government
      How could government evolve over the next decades? Reports of democracy’s imminent demise are greatly exaggerated.  However, satisfaction with political systems in many countries is low, so there is much to do for governments of all political stripes to improve relevance and trust. Digital technologies are seen as one ...
    SciBlogsBy Robert Hickson
    2 weeks ago
  • Speaker: Catalonia, interrupted
    Two years have now gone by since the Friday afternoon when my university-student son and I headed out of our Barcelona flat to a nearby primary school, designated as a polling station for the vote that was to be held the following Sunday: the referendum on Catalonia’s independence from Spain ...
    2 weeks ago
  • Sage Decisions Unwisely Over-Ruled.
    Overruled: The joint decision of Finance Minister, Grant Robertson (Labour) and his Associate Minister, David Parker (Labour) arguably the two most powerful ministers in Jacinda Ardern’s government, to grant OceanaGold the consents which Land Information Minister, Eugenie Sage (Greens) had earlier denied them, offers bitter proof of how hard fighting ...
    2 weeks ago
  • Government may ban voting in effort to get more people to do it
    More than double the number of people who will vote in this year’s local body elections have tried marijuana or urinated somewhere they shouldn’t have. As local elections look set for the lowest turnout in decades, with many regions falling well short of 40%, the Government is exploring a number ...
    The CivilianBy admin
    2 weeks ago
  • Woman: Deleted.
    A Statement on Abortion Law Reform by the Council of Disobedient Women   On the eve of bringing an end to antiquated, anti-women abortion laws Green MP Jan Logie intends to write women out of the Bill. With a stroke of the pen, the woke are aiming for total erasure ...
    RedlineBy Daphna
    2 weeks ago
  • The Hollowest of Men Ride Again… SURPRISE!
    Musings continue apace about “the experienced businessman!” soon to be taking up a National Party MP position. Or to be more accurate, being parachuted into a seat to shut down their former MP Jamie-Lee Ross, who despite his own shortcomings shed at least some more light on the inner workings ...
    exhALANtBy exhalantblog
    2 weeks ago
  • Barbaric
    The Ugandan government wants to murder gay people:Uganda has announced plans to impose the death penalty on homosexuals. The bill, colloquially known as “Kill the Gays” in Uganda, was nullified five years ago on a technicality, but the government said on Thursday it plans to resurrect it within weeks. The ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Is this study legit? 5 questions to ask when reading news stories of medical research
    Hassan Vally, La Trobe University Who doesn’t want to know if drinking that second or third cup of coffee a day will improve your memory, or if sleeping too much increases your risk of a heart attack? We’re invested in staying healthy and many of us are interested in reading ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Fighting Monsters.
    Freedom Of Speech? The Säuberung (cleansing by fire) was the work of the German Student Union which, on 10 May 1933, under the watchful eye of the Nazi Reichminister for Propaganda, Joseph Goebbels, consigned 25,000 books to the flames in a ritual exorcism of “un-German thought”. According to the logic of the ...
    2 weeks ago
  • The next wave of kaupapa Māori politics: its constitutional, it must be.
      “There can be no such thing as kaupapa Māori political parties or politics in Aotearoa” (Willie Jackson, Labour Party (2017). Māori TV, General/List Election Special) I begin with that claim because at the time, I was confounded at first that it fell out of Willie Jackson’s mouth, and then ...
    EllipsisterBy Ellipsister
    2 weeks ago
  • Night lights of NZ from orbit
    New Zealand has prided itself for decades with regard to its lack of pollution, and all will be aware that the ‘100% Pure New Zealand‘ meme is under threat through land, water and air pollution of various causes. There is another type of contamination that the country also faces: light ...
    SciBlogsBy Duncan Steel
    2 weeks ago
  • Reporters deliver uplifting news to fleeing Japanese residents: they won’t miss any rugby
    New Zealand’s media is doing its part in Japan, reassuring those in the path of the storm that they won’t miss any rugby while away from their flooded homes. New Zealand sports reporters stationed in Japan for the Rugby World Cup have had the rare and heartwarming opportunity to inform ...
    The CivilianBy admin
    2 weeks ago
  • Government in contentious discussions about whether to put surplus on red or black
    Regional Development Minister Shane Jones is the only Cabinet member in favour of putting it all on green. As Finance Minister Grant Robertson finds himself with an enormous $7.5 billion surplus, the Government has begun intense, at times contentious conversations about whether to put the money on red or black at ...
    The CivilianBy admin
    2 weeks ago
  • Jordanian teachers’ successful strike has lessons for here
    by Susanne Kemp At the start of September close to 100,000 school teachers went on strike in Jordan.  They demanded a 50% pay rise.  A pay rise actually agreed to by the regime back in 2014. In early October, however, in the face of government repression and threats, the teachers’ ...
    RedlineBy Admin
    2 weeks ago

  • More homes where they are needed
    More houses for homeless New Zealanders are being opened today in Tauranga by Associate Housing Minister Kris Faafoi. Six 2-bedroom quality units are being opened at 878 Cameron Road by Minister Faafoi and Accessible Properties, a local Community Housing Provider (CHP). Accessible Properties now provides more than 1,700 community housing ...
    BeehiveBy beehive.govt.nz
    54 mins ago
  • Minister of Finance and Sport and Recreation to visit Japan and Vietnam
    Finance Minister Grant Robertson departs tomorrow for events and meetings in Japan and Vietnam.  While in Japan, he will discuss economic and fiscal issues including meeting with the Minister of Finance, Taro Aso, and Minister of Economic and Fiscal Policy, Yasutoshi Nishimura. He will meet with the Minister of Education, ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Dashboard tracks housing progress
    The Government’s Housing Dashboard released today confirms record numbers of state houses are under construction and shows the Government build programme is gaining momentum.  “After nine years of inaction, and a hands-off attitude from the previous government we’re starting to see things move in the right direction for housing,” says ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Ministerial Statement on the International Convention Centre fire
    Mr Speaker, I wish to make a ministerial statement relating to the Auckland fire. The Government is closely monitoring the situation with the fire at the NZ International Convention Centre and is thankful that everyone is now safe. Firefighters are doing an incredible job managing the fire and bringing it ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • Government invests in Te Reo, environmental data research
    The Government is investing in ambitious research that will digitise Te Reo, grow the low-carbon protein efficient aquaculture industry, help interpret environmental trends, and large data sets says Research, Science and Innovation Minister Megan Woods. The four projects range from teaching Siri to speak Te Reo to crunching large environmental ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Government announces next steps as part of a comprehensive plan to fix skills gap
    A new education-to-employment brokerage service to strengthen connections between local employers and schools. Funding for more trades focused ‘speed-dating’ events to connect schools with employers. Promotional campaign to raise profile of vocational education. The Government is taking action to increase the number of young people taking up vocational education and ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Corrections Amendment Bill passes third reading
    A Bill to improve prison security and ensure the fair, safe, and humane treatment of people in prison while upholding public safety has passed its third reading. Corrections Minister Kelvin Davis says the Corrections Amendment Bill makes a number of changes to ensure the Corrections Act 2004 is fit for ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Ngāi Tahu CEO appointed to NZ-China Council
    Minister for Māori Development, Nanaia Mahuta, has selected Arihia Bennett MNZM, Chief Executive Officer of Te Rūnanga o Ngāi Tahu, as the Te Puni Kōkiri appointed representative on the New Zealand-China Council. The New Zealand-China Council (the Council) was established in 2012 as a New Zealand led and funded organisation ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Southern Response claims move to EQC
    Responsibility for processing the small number of Southern Response claims still to be settled will be transferred to EQC by the end of the year. “As claim numbers reduce, it no longer makes sense for the Crown to have two organisations processing the remaining Canterbury claims,” Grant Robertson says. “Since ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Bowel screening starts in Whanganui
    Health Minister David Clark is encouraging Whanganui residents to take up the opportunity for free bowel screening, which can detect cancer early when it’s easier to treat.   Over the next two years 12,000 Whanganui locals, aged 60 to 74 will be invited to participate in the National Bowel Screening ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Pacific Peoples Minister to attend Our Ocean Conference in Norway
    Minister for Pacific Peoples Aupito William Sio, heads to Oslo today to represent New Zealand at the sixth Our Ocean Conference, which is being hosted by the Norwegian Government from the 23-24 October. “The Our Ocean Conference mobilises real action on issues like marine plastic pollution and the impacts of ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government announces 27 percent increase in Trades Academy places
    Two secondary-school initiatives are being expanded as part of the Government’s plan to see more young New Zealanders take up a trade to help close the skills gap.   This includes the largest single increase in Trades Academy places in recent years. Prime Minister Jacinda Ardern and Education Minister Chris ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to the New Zealand Institute of International Affairs, Pacific Futures Conference: Connection...
    Session 4: Pacific Connectivity – Youth, Media and New Opportunities   Kia ora tatou katoa and Warm Pacific greetings to one and all. Representatives of Tainui, the local people of the land, or manawhenua – the indigenous peoples of this area – have welcomed you this morning in accordance with ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Methane reducing cattle feed one step closer
    The Government today announced its support for a project that could substantially reduce agricultural greenhouse gas emissions from cattle. The announcement was made as part of Prime Minister Jacinda Ardern’s and Agriculture Minister Damien O’Connor’s visit to Nelson’s Cawthron Aquaculture Park. The Cawthron Institute will receive $100,000 from the Government’s ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Bill to refresh superannuation system passes first reading
    Social Development Minister Carmel Sepuloni has welcomed the first reading of the New Zealand Superannuation and Veteran’s Pension Legislation Amendment Bill. “Every New Zealander has a stake in New Zealand Superannuation and Veteran’s Pension,” says Carmel Sepuloni. “They are our most common form of social assistance – nearly 800,000 New ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government announces next steps in fight against measles
    Babies in Auckland aged six months and over can receive a free vaccination and children will all have access to vaccines, Associate Minister of Health Julie Anne Genter announced today at Papatoetoe High School.   The move comes as part of Government efforts to step up the fight against measles. ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to the New Zealand Institute of International Affairs, Pacific Futures: Connections, Identity...
    ***Check against delivery*** Good morning. It is a pleasure to be here, and to have the honour of opening this important conference on behalf of the New Zealand Institute of International Affairs. Let us take the opportunity to acknowledge all the people who have helped make today possible, including our special ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Police trial new response to high risk events
    Police Minister Stuart Nash says the safety of frontline officers and members of the public will be the focus of a new trial of specialist Police response teams in three of our largest urban centres. Police have this morning released details of an initiative to be trialled in Counties Manukau, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New awards celebrate fisheries sustainability
    The Minister of Fisheries is calling for entries for a new public award to celebrate innovation in our seafood sector. “I have established the Seafood Sustainability Awards to recognise and celebrate those throughout industry, tangata whenua and communities who demonstrate outstanding dedication and innovation towards the sustainability of New Zealand’s ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • More progress for women and we can do more
    Minister for Women Julie Anne Genter welcomes leaders in the private sector taking action on closing their gender pay gaps to ensure a fairer workplace for all New Zealanders. Ms Genter today launched a new report, Addressing the gender pay gap and driving women’s representation in senior leadership, from the Champions for ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Proposals to curb environmental damage help our coasts and the oceans
    Government Ministers today welcomed the release of a marine environment report highlighting the four key issues affecting our oceans, estuaries and coastlines.  The release underlines the importance of government proposals to combat climate pollution, ensure clean freshwater, protect biodiversity, make land use more sustainable, and reduce waste and plastic.    Environment ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New mental health facility for Waikato
    The Government has approved funding for a new acute mental health facility for Waikato which will provide better care and support to people with mental health and addiction issues. Prime Minister Jacinda Ardern and Health Minister Dr David Clark announced the $100 million project to replace the aging Henry Rongomau ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • 500 new te reo Māori champions in our classrooms
    The Government is making progress on its goal to integrate te reo Māori into education by 2025, with over 500 teachers and support staff already graduating from Te Ahu o te Reo Māori,  Associate Education Minister Kelvin Davis announced today. Kelvin Davis made the announcement at an awards ceremony in Waikanae today, for ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Minister James Shaw welcomes 2018 Census first release
    Statistics Minister James Shaw has welcomed the first release of 2018 Census data. The first release of data today, 23 September, includes key data on population, regional growth, the number of homes and the size of different ethnic groups in New Zealand. Data from the 2018 Census will support the ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Driving transparency, ethics and accountability in government use of algorithms
    Minister for Statistics James Shaw today announced a public consultation on a proposed algorithm charter for government agencies. The charter has been developed by the Government Chief Data Steward in response to growing calls for more transparency in government use of data. Computer algorithms – procedures or formulas for solving ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New Zealand and the Netherlands working together on climate change
    Agriculture Minister Damien O’Connor, Climate Change Minister James Shaw and visiting Dutch Prime Minister Mark Rutte co-hosted a business roundtable in Auckland this morning focused on working together to address climate change.  “The Netherlands is an important partner for New Zealand. We share a strong agricultural history. Sustainable agribusiness and ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Protecting fairness for workers and businesses
    The Government is taking action to build an inclusive economy where more of us receive our fair share at work and businesses can compete on great products and services, not undercutting wages and conditions, Immigration and Workplace Relations and Safety Minister Iain Lees-Galloway says. Two consultations launched today seek feedback ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Indigenous Freshwater Fish Bill Passes
    The future for New Zealand’s threatened indigenous freshwater fish looks brighter with the passing of the Conservation (Indigenous Freshwater Fish) Amendment Bill in Parliament today said Minister of Conservation, Eugenie Sage. “Until now, our freshwater fish legislation has been 20 years out of date. We have lacked effective tools to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kiwis to take part in world’s biggest earthquake drill
    At 1.30pm tomorrow, hundreds of thousands of Kiwis will join about 65 million people around the globe in ShakeOut, the world’s biggest earthquake drill. The annual drill is to remind people of the right action to take during an earthquake which is to Drop, Cover, Hold, and to practise their ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Rising wages and low inflation supporting Kiwis
    Kiwis are benefiting from higher wage growth and low inflation under the Coalition Government. Stats NZ data out today shows the rise in the cost of living remains low, as annual Consumers Price Index (CPI) inflation fell to 1.5% in September from 1.7% in June. “The low inflation comes as ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ economy strong amid global headwinds
    New Zealand’s economic strength and resilience has been recognised in a major update on the state of the global economy. The IMF’s latest World Economic Outlook released overnight shows a reduced global growth forecast over the next two years as issues like the US-China trade war and Brexit take hold. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Keeping New Zealanders safer with better counter-terrorism laws
    Justice Minister Andrew Little has today introduced a new Bill to prevent terrorism and support the de-radicalisation of New Zealanders returning from overseas. The Terrorism Suppression (Control Orders) Bill gives the New Zealand Police the ability to apply to the High Court to impose control orders on New Zealanders who ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Improved succession and dispute resolution core of Ture Whenua changes
    A Bill that proposes targeted changes to simplify the processes for Māori land owners when engaging with the Māori Land Court has had its First Reading today. “The approach taken by the Government is to ensure that the protection of Māori land remains a priority as we seek to improve ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to CTU Biennial Conference
    Let me first thank all the new unionists and members in the room. There is nothing more important to improving people’s working lives than people making the decision to care, to get on board and help, to take up the reins and get involved. Congratulations to you. You bring the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister ensures continued Whenuapai flight operations
    Minister of Defence Ron Mark has signed a certificate exempting the activity of engine testing at Whenuapai Airbase from the Resource Management Act 1991. The Act gives the Minister of Defence the power to exempt activities for the purposes of national security.  The certificate will mean the recent Environment Court ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ joins Coalition of Finance Ministers for Climate Action
    Finance Minister Grant Robertson has announced New Zealand will join the Coalition of Finance Ministers for Climate Action while attending APEC meetings in Chile. The objective of the 39 member Coalition is to share information and promote action to tackle climate change. It was formed in April this year, in ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Feedback Sought – Section 71 – Lyttelton Parking
    Feedback sought– Lyttelton commercial zone parking  The Associate Minister for Greater Christchurch Regeneration, Poto Williams, is seeking feedback on a proposal to remove on-site car parking requirements for new developments in the Lyttelton commercial zone.  The proposal, by Christchurch City Council, asks that powers under section 71 of the Greater ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Feedback Sought – Section 71 – Hagley Oval
    Hon Minister Poto Williams Associate Minister for Greater Christchurch Regeneration   MEDIA STATEMENT       Tuesday 15 October 2019 Feedback sought – Hagley Oval The Associate Minister for Greater Christchurch Regeneration, Poto Williams, is seeking feedback on a proposal about Hagley Oval. The proposal was developed by Regenerate Christchurch ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • CTU speech – DPM
    Ladies and gentlemen, NZCTU President Richard Wagstaff, members of respective unions – thank you for the invitation to speak to you today. This might be preaching to the choir, but the importance of trade unions in New Zealand’s historical arch is difficult to understate. And it is my belief that ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Police Association Annual Conference
    "Let’s start by acknowledging that it has been a huge year. " Police Association Annual Conference James Cook Grand Chancellor Hotel Wellington Nau mai, haere mai. Tēnā koutou, tēnā koutou, ka nui te mihi, ki a koutou katoa. President of the Police Association, Chris Cahill; Members of the Association and ...
    BeehiveBy beehive.govt.nz
    1 week ago