Nice

Written By: - Date published: 9:08 am, September 30th, 2008 - 45 comments
Categories: economy, International - Tags:

45 comments on “Nice ”

  1. Bill 1

    Call me twisted, but that failed bail-out package and the accompanying drops in the markets makes for a feel good news article. I guess when the Berlin Wall crumbled, the official news sources in the Soviet Bloc were somewhat negative in their reporting too.

    I don’t think it’s time to bail out ‘the people’ as much as time for people to bail out of the whole shebang.

    But since people are not able/prepared for that, it strikes me as a shame that the Labour party here embraced neo-liberal doctrine so completely, ’cause now would have been a really good time for them to repudiate their faith, embrace their doubts and set down social and economic policies that fall decidedly outside the realm of neo-liberal acceptability.

    Oh well.

  2. Bill 2

    Maybe I misread the placard and the ‘Bail out people’ is an instruction rather than a plea?

    On another track, since ‘merchant banker’ is just a piece of rhyming slang, why hasn’t it been applied to JK before now? Just a question.

    Picture of JK. ‘Why vote for a total merchant banker.’ etc, etc

  3. Daveski 3

    I agree Bill. I’m sure North Korea, Cuba and Albania will be immune from these neo-liberal failings!

  4. Phil 4

    Theres a lot of really poor journalism going on around the bail-out, and a lot of misunderstanding.

    We’re not talking about throwing $700bln USD down a drain – it’s a purchase of loans that are still backed – for the most part – by solid residential property (the security needs to be differentiated from the borrowers ability to repay the mortgage, two very different things)

    The US government is going to be picking up these loans secured on housing at a substantial discount, so there is in all probability a positive return in future for the federal government as those loans progressively get paid back and/or the property market recovers. Add to that the prospect of holding a portion of the stock in banks (which are also at astonishingly low market valuations at present) and there is a very real opportunity to make an absolute fortune for taxpayers.

    Of course, there also needs to be a change in the regulatory oversight. Not necessarily more, but certainly a change to the way banks are supervised by the likes of the Fed.

    ….

    One thing that really concerns me though, is the pace of the legislative process here. Remember the last time the US government pushed something through this fast? It was the Patriot Act and associated counter-terrorist measures… some nasty stuff hidden in that.

  5. Bill 5

    On a Tui theme I guess, tidy up the quotes and…

    “We won’t sell Kiwi Bank…yet. Merchant banker!”

    “50 000 shares, I mean, um, ah, between 50 000 and 100 000″ Merchant banker!

    ” I don’t know if I met Ashcroft. Um, eh I met him at my home” Merchant banker!

    I wont post any more. I’m sure others can come up with far better, but anyway, ever noticed he always seems to have one hand in his pocket…..merchant banker!

    How many kleenex will be needed to clean up the mess this merchant banker will make?

    ALERT! Don’t let this merchant banker near your assets!

    Ah shit. Stopping now.

  6. Vanilla Eis 6

    I’d be interested to see if they’re going to put the hard word on executive bonuses and parachutes as a condition of the buyouts: I’d say “nothing” is about what they’re owed.

    Phil has a couple of good points though –

    1) The bailout isn’t just throwing money away, and it will hopefully ease some of the pain that will be felt anyway.

    2) The Govt could quite possibly make money off this (But what the hell is Government doing in business? Isn’t that all *gulp* Socialist and stuff?)

    3) Pushing legislation through so fast can be dangerous. Action has to be taken quickly, but I don’t think that Congress are wrong to defeat a bill that has been put together so hastily. I imagine most of the Rep’s haven’t even had a chance to read the fine-print (Of which there will be a lot) – always a smart thing to do when dealing with large sums of money.

  7. Bill 7

    daveski.

    Neo-liberalism is not a world wide phenomena. True, most developing and ex-state communist countries had it forced on them through SAPS and such like and the anglo-saxon world adopted it wholesale.

    But that leaves a lot of countries that didn’t pursue neo-liberal economic doctrines.

  8. Phil,

    This 700 trillion is only the amount they can have outstanding at all times but they can trade over and over again. Bloomberg reckons this bail out of the worthless paper junk bonds could cost the US taxpayer up to 5 trillion.

    This bailout would give the banksters immunity from prosecution for fraud and give Paulson dictatorial power over the entire financial system of the US. No check and balances.

    The speculative bubble created by John Key and his Wall street bankster mates is likely to exceed a Quadrillion dollars.

    Why should the US taxpayer and make no mistake the UK population is also hit for up to a trillion pounds and the Federal Reserve of NZ will also start bailing out failing banks if need be so why should we the little people bail out the banksters speculative orgy of the last 20 years because that’s how long this has been going on. This did not happen overnight you know.
    The derivative trade banned in 1933 because it was just to speculative was taken out of the mothballs by Alan Greenspan in 1987 and ever since the bloodsuckers on Wall street and in the city of London have been having a go at it.

    If John Key has any remorse about his speculative past he should consider giving his fortune to the super fund it just lost over 880 million dollars the last year. but guess what I’m sure he would rather spend it on another house in Hawaii were he and his predatorial banking mates are going to enjoy the spoils of their drunken looting of the worlds populations when he is done selling of NZ’s assets to them.

    I have the feeling a lot of NZers are going to be mightily pissed of with him in a year or so and he’ll be very happy to live in that resort.

  9. Santi 9

    How amusing is the sight of the enemies of capitalism and free-market economies rejoicing at this time.

  10. Tara 10

    Phil & Vanilla Eis,

    .. where have you guys been hanging out for the last year or two ? Worshiping at the feet of von Hayek in the National party common room ?

    http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3088685/US-Economy-Even-Hank-Paulsons-bail-out-plan-cannot-detox-global-banking.html

    and

    http://optionarmageddon.ml-implode.com/2008/09/28/a-picture-of-the-apocalypse/

    might give you a taste of what is around the corner.

    Electorally, who would want to be in power right now ?

  11. higherstandard 11

    People love a bad news story Santi – human nature sadly.

  12. Vanilla Eis 12

    Tara: Did you even read the first article?

    to quote:

    Even if Congress backs the Paulson bail-out, the $700 billion blast cannot save the US, Britain or the world from the deepest economic slump since the Thirties. If Congress balks, God help us.

    Emphasis mine. Read my post again – did I say that the bailout was a cure-all? Hell no. But if it doesn’t happen, the pain is going to be a lot worse.

    As Mr Paulson says, US taxpayers are on the hook whether they like it or not. A $700 billion fund to soak up toxic debt and stabilise the credit market is the cheapest way out. It is certainly cheaper than Depression.

    Stop lumping me in with the free-market idealists. I’m most assuredly not one. But that doesn’t mean I’m blind to the fact that things are incredibly fucked, and will quite likely get worse if the Fed doesn’t inject some cash shortly.

    Oh, and one last quote from that article:

    … claims that the US is going bust are frivolous. The US Treasury is not taking on permanent debt: it is behaving like a giant wealth fund, hoovering up mortgage securities selling far below their real value for reasons of panic. Famed investor Warren Buffett expects it to make “a considerable amount of money’.

    That Buffett guy has had the odd dip in the financial pool. Maybe he’s not the worst person in the world to take advice from?

  13. coge 13

    Only one thing worse than a bailout, & that is no bailout.
    Although the bailout constitutes rampant govt socialism, via nationalisation of financial assets. Not a good thing. For my personal reasons, of which I won’t go into, I prefer no bailout.

    Let’s see some solutions, instead of grandstanding & blaming “the system”. At the end of the day, taxpayers pay, one way or the other.

  14. Santi,

    Free trade and capitalism is one thing. But wanting free trade and capitalism when it’s profitable and socialism and regulation when your business goes bankrupt because you’ve been gambling with it? come on.

    Capitalism is about the freedom of enterprise whether you make it or break it that’s up to you.

    The banksters betted with other peoples money and made gazillions while doing it. Now let them pay the price for their greedy irresponsible behaviour.

    Dismantle the Federal Reserve system, abolish the monopoly of the privately owned banking cartel and let’s go back to the time of social credit. We own this country. We the people and not a bunch of parasitical low lives speculating with the fruits of our labour, our hard earned money.

  15. Coge,

    Spending anywhere between 700 billion to 5 trillion of the already maxed out taxpayers money to prop up corrupt financial institutes is day light robbery. Getting out of two illegal wars of aggression and spending the money (last week the congress passed another trillion to be spend in the wars) on rebuilding the crumbling American infrastructure creating jobs, invest in schools etc. is more in order.

  16. Vanilla Eis 16

    Eve: the problem is that the bankers won’t be the ones paying the price… They’ve already had their multi-million dollar bonuses, they’ll be ok. It’s the people who have mortgages on their homes, which will be foreclosed upon to pay the debts these banks have incurred, who will suffer.

    Hence me being in favour of the bailout (in some form, it will have to happen – either in welfare payments for the unemployed or in cash for the banks to retain liquidity) while completely removing the bonus system for bankers (ideally this could be applied retrospectively, say by a 100% tax bill on any such payment in the last 6-12 months). It won’t cover the bailout, or anything near, but it’ll mean that the money goes where it’s needed, and if an executive has to sell his house because he can’t make the payments? Well, too bad.

  17. randal 17

    WALL STREET…. the place where people go for advice from people who go to work on the subway!

  18. randal 18

    where people go in rolls royces to get advice from people who go to work on the subway.

  19. gobsmacked 19

    I’m sure our wonderful politicians will sort this mess out, if we just let them appear in the TV debate. That’s what really matters, eh?

    God, we’re fucked.

  20. Vanilla Ice,

    I’m all for helping the Americans who have lost their jobs because the same scum from the banking world who are also on the boards of big corporations and who for profit outsourced all the well paying jobs to china and who sold suckers the idea that their overvalued houses would always go up in price expensive mortgages.

    Those people need jobs and income to pay their mortgages and feed and clothe their kids. So if you’re going to bail out anybody why not them. They just passed another trillion for their wars so why not for their own people.

    The truth is that giving Wall street banksers unlimited amounts of money is only going to increase inflation on a massive scale. In fact it will destroy the dollar altogether. It will start the sell of of the dollar by China and Japan and it will be the end of the Anglo-Saxon financial system.

    But perhaps that is what should happen because then perhaps we can make the criminal banking elite pay for their monstrous speculative bubble and their wanton looting of the worlds resources.

  21. Phil 21

    worthless paper junk bonds
    RMBS means ‘residential mortgage back security… as in there is a whopping great house and piece of land behind each and every loan. For the security to be worthless, it would have to be the case that every single one of those homes and the land with them was also worth $0 – to say the bind is ‘worthless’ is simply not accurate.

    This bailout would give the banksters immunity from prosecution for fraud and give Paulson dictatorial power over the entire financial system of the US. No check and balances.

    “Over the entire financial system” is a bit of a stretch, Trav…
    I doubt this ‘dicatorial power’ is really going to be true following the failed house vote overnight. I fully agree that there needs to be acceptable checks/balances, but we probably disagree on the nature of them. I’m not so sure about the avoidance of prosecution as, as I understand it, there has not been a systematic breaking of any particular laws, just some shockingly unethical practices.

    The speculative bubble … is likely to exceed a Quadrillion dollars

    Erm, so?
    The Fed/Treasury is not there to bail out the whole industry. It’s there to provide a degree of confidence that has been lacking recently. There is going to be a need for banks to ‘hold hands and work through this together responsibly’ (as, I think we can both agree, there should be).

    Federal Reserve of NZ (sic) will also start bailing out failing banks

    Our banks have not taken on RMBS to anywhere near the extent of the US or other countries. Our banks strike me as being sound, and well oversighted by the RBNZ, so I dont accept a bank failure is remotely possible for NZ any time soon.

    banksters speculative orgy of the last 20 years because that’s how long this has been going on. This did not happen overnight you know

    I put this to you; Where do you think all that money came from? It wasn’t created out of nowhere (please don’t start on this…)
    It came from all the funds, investors, etc that had excess cash sloshing around, and were looking for somewhere with a juicy interest rate return. These investors need to take a share of the blame for ignoring the real risk there were getting themselves into. they wanted more of this stuff, and the banks were only too happy to securitise sub-prime loans and get them off the balance sheet.

    Then we need to look at the original borrowers. They suddenly thought they could have a home that five minutes earlier they couldn’t afford? More of my favourite bug-bear; financial illiteracy in the general populace.

    Blaiming the banks alone for where we are now is myopic, and ignores the demand side of supply and demand.

  22. Pascal's bookie 22

    VE, I pretty much agree.

    The only problem I have is that we don’t get the bailout we want, we only get the bailout on offer. That bailout was one that would be administered by the Bush administration. I simply don’t trust them.

    The politics of it are a mess, and the GOP congress critters have decided that having no deal is better than any deal that involves ‘socialism’. They want to be able to run against the deal, blaming the Democrats.

    If I was the Dem’s I’d respond with a New Deal 2.0. Include all sorts of populist stuff marketed around a slogans like the one in the poster and “Too big to Fail? Too big to exist!”. Break the banks. etc.

    The way the GOP has poilticised this is disgusting, but if that’s the way they want to roll, then Obama has a shot at setting the playing field for some dramatic reform. Ideally he should put himself as a conservative check on a populist Democratic congress. Let the GOP rant on the sidelines for a decade.

  23. Bill 23

    This financial crisis was predictable and was predicted by some. But the ‘doomsayers’ were voices in the wilderness. The ‘herd’ just kept straight on, smokin’ those cigars and celebrating that ‘tomorrow was another day.’

    So now it’s all come crashing and there’s panic and all sorts of mayhem. Fine.

    But what was that mentality that persisted on a disastrous trajectory by employing wilful blindness and suspending disbelief? More importantly, what is that trait going to lead us to on matters that are not abstract products of human cunning; that lead to far greater consequences than the collapse of an idea?

    A way of doing business is over and it’s going to have effects in the real world that will hurt a lot of people. That’s one thing.

    But more important, MUCH more important, is the ecological and climatic disaster that is facing us down right now.

    I can see the same pattern of denial…the wilful blindness and suspension of disbelief. In a financial meltdown it is arguably possible by means of shifting money and developing rules to ameliorate real world consequences.

    But rules and money will do nothing for our ability to grow crops when seasons are no longer the broadly predictable affairs we have become accustomed to. Money and rules will do nothing to ameliorate chaotic weather or shifts in ecological systems or any of the real world consequences of climate change.

    Since we failed/refused to foresee and avert a disaster in a financial model that was merely a product of our own cunning imagination, then it has to be wondered what chance with real world systems that are far more complex and utterly crucial to our survival?

    Just a thought.

    Ah jeez, me cigar’s gone out! Oh well, tomorrow’s another day.

  24. Vanilla Eis 24

    PB: Yeah, a New Deal for the 21st Century appeals to me too. But it won’t happen, because Bush would never let it through, and if it’s not signed and sealed before Obama takes office it’ll likely be too late – seen the markets this morning?

  25. randal 25

    hahaha…its just a correction for irrational exuberance…wheeeeeee

  26. Phil,

    Why don’t you watch this documentary about the Money Masters

    If you can say money wasn’t made out of thin air than you’re going to have to deal with my response whether you like it or not.

    This is a very nice video that will teach you about money creation.

    The fractal banking system has created over a Quadrillion (1000 trillion) dollars out of thin air speculating in unregulated financial products.

    The worlds GDP is no more than 60 trillion a year in real goods.

    It is that bubble that is now deflating. This bubble has nothing to do with the real economy. It is just speculative crap betting hedging also known as gambling.

    Banks in the US are walking away from the property the foreclose on because they don’t want to get into the real estate maintenance business. LOL.

  27. rave 28

    Ironically the democrats had already capitulated to Bush with a token oversight, equity (ha ha paying twice what the bad debts are worth now – even less in the future) and some token protection for homeowners.

    It was the House Republicans who pulled their free market outrage that socialism was stalking the land of the free.

    There will be a further compromise but meanwhile more banks will deservingly go bust. That is the whole purpose of a recession/depression – the destruction of overvalued value.

    All these crocodile tears for Wall St is a bit rich when they sat back and let the market rip in Asia in 97 and Russia in 98.

    Talk of socialism via the Treasury is crap. The state has always propped up capitalism, its just that the marketeers try to deny it in good times. And its no use thinking that deal they eventually arrive at will do anything for workers.

    Homeowners should sit tight occupy their homes and stop further sales. Those already living in Walmart carparks should go home and stake out their property. The idea that homeowners are to be blamed for getting into mortages they couldnt afford is crap. We are talking about a credit card culture promoted by the financiers, why should homeowners be blamed for this?

    They have been conned and found the cost of housing too high when wages were declining and jobs being lost. Many will have paid more than the likely new value of their houses anyway.

    On the basis of mass occupations homeowners should demand the nationalisation of housing and the cancellation of their mortgage debt. They can then pay rent to the state at a rate pegged at no more than 20% of their wage.

  28. higherstandard 29

    A slightly less biased and more reasonable analysis than most.

    http://myslu.stlawu.edu/~shorwitz/open_letter.htm

  29. Phil 30

    Trav,

    over a Quadrillion (1000 trillion) dollars out of thin air speculating in unregulated financial products.

    The worlds GDP is no more than 60 trillion a year in real goods.

    Sorry, I missed the significance of the decimal placing… It’s a verrrrry big scaaaaary number,. until you put it in context.

    When you work it out per person on the planet (6 billion, roughly) that’s about $160k USD. I’d think that’s probably an accurate reflection of the net worth of each person on average, when you take into account the skewed nature of wealth distribution.

    I think you’re also confusing GDP (which is the ‘flow’ of what’s produced in a year) with the actual ‘stock’ of wealth underlying it. If global GDP is 60 trillion, a quick back-of-the-envelope calculation puts the global stock of wealth at $1,200 trillion (assuming that GDP represents the return on the underlying assets, and is on average a real 5%)… which still leaves us $200 trillion in ‘capital’.

    Banks in the US are walking away from the property the foreclose on because they don’t want to get into the real estate maintenance business.
    LOL

    That’s their prerogative. The Fed and Treasury can’t/won’t do the same.

    I actually think there is quite an opening for an investor/institution to get a property empire on the cheap. You look for properties about to be foreclosed, and agree on a purchase price with the current occupant where you take ownership, they pay you rent as landlord, and they don’t have to move out.

    As investor, you get a house at a discounted price, the bank doesn’t lose out on its original mortgage, and the tennat doesn’t get foreclosed and kicked out.

  30. Santi 31

    “Dismantle the Federal Reserve system, abolish the monopoly of the privately owned banking cartel and let’s go back to the time of social credit”

    Keep dreaming travellerv.

    By the way, did you incredibly smart woman get to the bottom of the conspiracy theories behind 9/11 and the moon landing hoax? Good on you, Dutch Einstein!

  31. Bill 32

    rave

    claiming ‘squatters rights’ would work, if people displayed solidarity for one another. But in an environment where looking after number one and getting ahead of the Jones’ has become the acceptable norm, I can’t see a culture of solidarity flourishing. Still, worth a go.

    Something along the lines of a defaulting mortgage becoming a rent payable to a government agency (after re-evaluation) sounds too easy and sensible. Can’t have that!

    At the end of the day, the ‘big boys’ will work or stumble something out ( by accident or design) that is to their mutual benefit and that at the very least preserves a semblance of the present system ticking along after a fashion.

    I just can’t see the point myself. Capitalism will always come to a point where it produces more than it can consume and the only way out, insofar as seeking profit maximisation is through speculation. Even when this shit is ‘sorted out’, it’ll only be a matter of time before it all comes around again.

    I remember the days when kids used to stick their hands in a fire and learn something from the experience. Alas, no more it seems.

  32. Quoth the Raven 33

    Moon landing hoax that’s Ian Wishart’s. Don’t you know Jesus lives on the moon.

  33. Draco T Bastard 34

    As investor, you get a house at a discounted price, the bank doesn’t lose out on its original mortgage, and the tennat doesn’t get foreclosed and kicked out.

    But the country does end up with near monopoly landlords which will come together into an oligarchy – exactly what we have now and what added to the crisis.

  34. rave 35

    Bill:

    On collectivism.

    The big stink being kicked up by workers on the streets is collectivism at a very minimal level. Its only one step for them to set up neighborhood committees to defend their homes from foreclosures.

    If its OK for the bosses to gang up and hold up the government for a hand out, its OK for workers to gang up to keep their homes. Then when theyve done that they can gang up to take over the hospitals, transport, and other services and run them collectively.

    Its another step forward in industry. Section 11 bankruptcies has seen companies bail out of jobs and workers pensions. Usually the assets get grabbed cheap by some other boss. Workers need to gang up and take over the plants in lieu of their back wages stolen by these put up bankruptcies. This has happened in Argentina and Venezuela so its not outlandish in the US facing a big crisis. Here workers go from being collectives of taxpayers to being collectives of producers of wealth.

    What has been set in motion with this crisis opens up this prospect of a collective consciousness developing among the working class majority. We can go from a rebellion against bailouts for the rich to stakeouts of industry etc to provide jobs, housing, jobs, services etc

    When the Republicans talk about ‘socialism’ we should say “you havnt seen anything yet”

  35. He Santi,

    Great debating skills. If you can’t debate on facts you go for the personal insults.

  36. roger nome 37

    ‘higher standard’

    That isn’t a well-reasoned argument. It’s all non-sequitors and rhetoric. Sheds no light at all.

  37. Phil,

    Let’s agree to disagree on this one.

    I predict that there is no saving this one and I hope I’m wrong and with me some very smart people whose articles I’ve been reading from both sides of the political spectrum. I can assure you that these people all hope they are very, very wrong.

    In fact I predict an economic meltdown of biblical proportion and have prepared for it.

    I hope I’m going to be one of those people that in a couple of years looks at herself in the mirror and things Jeez girl did you get that wrong or what. I really do.

  38. Tara 39

    ‘Vanilla Eis’ & ‘Phil’: opposition to the US “Bailout” seems to have been a Bipartisan thing. Could something like that happen in Aotearoa / Neu Seeland ?

    See WSJ link below.

    http://online.wsj.com/article/SB122273395169288417.html

  39. Tara 41

    Abraham Lincoln on Bank Bailouts

    “It is an old maxim and a very sound one, that he that dances should always pay the fiddler. Now, sir, in the present case, if any gentlemen, whose money is a burden to them, choose to lead off a dance, I am decidedly opposed to the people’s money being used to pay the fiddler…all this to settle a question in which the people have no interest, and about which they care nothing. These capitalists generally act harmoniously, and in concert, to fleece the people, and now, that they have got into a quarrel with themselves, we are called upon to appropriate the people’s money to settle the quarrel.” – Abraham Lincoln, January 11, 1837

  40. Bill 42

    Rave.
    Don’t get me wrong. I basically agree with what you say. But I question the existence of the will and don’t see where the historical knowledge to carry things through is going to come from.

    In Argentina, workers didn’t take over the factories because they thought it was a good idea (unfortunately) but out of desperation and complete lack of any other option.

    And then in Argentina and elsewhere, when the workers had it all on a plate, they gave control away to the government..(not all of them, but a goodly number)

  41. T-Rex 44

    Trav – I can see why you’d say that, but I’m not convinced actually. The economy is a weird thing. Like you say, the US is hugely in debt… but what does that mean really? I mean do you actually think they’re going to go bankrupt? That makes no sense. It’s a fiat currency – there are 300 million people and a huge amount of infrastructure and resource base and technology backing it. Saying “I think the US government will go bankrupt” is also a bit of a non-statement. How? What currency is their debt held in? What is to stop them from just printing more money (as they’ve essentially been doing hand over fist for the last few months). I mean they’ll devalue their currency, sure, but they won’t be bankrupt.

    I agree there are going to be a lot of big ripples, but I don’t think it’s as simple (or as catastrophic) as the armageddon scenario you portray. Do you think trade is just going to stop? Can you think of any reason WHY it actually would?

    Also: Did you see this article? http://www.stuff.co.nz/4711218a30.html

    I’m quietly pleased the bailout got rejected. It’ll get passed eventually, but I think it SHOULD be a struggle if any good is to come from it. It should be painful enough that people really stop and reconsider the systems in place.

    The Daily Show last week on the issue was truly awesome.

    Has anyone noticed how the ETS, which has been under consideration and development for… what… about 3 or 4 years now… anyway, it’s “A rushed and reckless piece of legislation”. But the “Pick up the tab for the gross incompetence, huge salaries, and abominable risk assessment skills of the finance industry act” or whatever it’s called is “An urgently required measure for the good of the economy”?
    Interesting to see priorities and planning horizons. Spending 700 billion now for the sake of stupid lending practices with questionable consequences is prudent economic management… but GOD help you if you try to suggest spending a fraction of that on renewable energy development funding… I mean that would be meddling in the market, who knows what might happen?!

    Oh wait, that’s right, the coal industry would tank. My mistake… everyone knows what might happen.

  42. rave 45

    Bill
    I don’t disagree that overcoming the isolation of individuals is a problem. But if Michael Moore and others are right, then it was the collective rage that stopped the bailout yesterday.

    http://www.scoop.co.nz/stories/HL0809/S00391.htm

    Moore thinks that the system can be rescued but its worth pushing him as far as he will go. He’s calling for a national mobilisation to stop the bailout period. That’s a good starting point.

    I also agree that Argentinian workers occupied out of desperation. There are still many under occupation but it is a struggle given the recovery of the economy. In Venezuela I would say that the conditions are much better and important occupations and nationalisations are still happening.

    But isnt the situation in the US for homeless people desperate?
    Ive seen TV interviews and coverage of the homeless. It reminds me of the desperation of the unemployed in Argentina until they started organising road blocks. Its a big psychological shift to go from an insolated jobless person or loan defaulter to a pissed off home defender grouped to others in the block and getting organised like the piqueteros in Argentina.

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    Gas Stations sit the very intersection of transport, land use, and the energy transition, so are interesting to watch. Especially in the city core. The three buildings shown here are all on the sites of former gas stations in central Auckland. The longer term fact is that gas stations are ...
    Greater AucklandBy Patrick Reynolds
    5 hours ago
  • Nicola's Bag of Money.
    Have you seen my bag of money?I left it in the parlour,It was your party and they were your friends,I see you got a nice new car and a brand new pair of pants.So what’s it going to be New Zealand? The Money or the Bag? Do you want those ...
    Nick’s KōreroBy Nick Rockel
    6 hours ago
  • The Media Outlets & Millionaires Enabling The Elderly Edgelords
    Hi,I am sort of loath to write this newsletter today because I fear it’s playing into the hands of a bunch of elderly edgelords. These are typically older white men who generate their income by saying the most hideous stuff they can, all while self-righteously screaming about the merits of ...
    David FarrierBy David Farrier
    6 hours ago
  • Film-makers follow the money on ‘disinformation’ bandwagon
    Graham Adams writes that while Web of Chaos gets a rerun on TVNZ, River of Freedom is left out in the cold. If you are a film-maker looking for an injection of taxpayer cash, a pitch focused on fake news purportedly propagated by “conspiracy theorists” looks to be a good ...
    Point of OrderBy gadams1000
    15 hours ago
  • At a glance – What is the link between hurricanes and global warming?
    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 ...
    18 hours ago
  • Nicola Willis brings us up to date with state service job cuts – while Tamatha Paul (is this overk...
    Buzz from the Beehive Finance Minister Nicola Willis has estimated the loss of around 2500 jobs from the public sector during the cost-saving since the general election last October. Another 1150 vacancies in Government departments have been removed from the books  and 500 are expected to go, she said during ...
    Point of OrderBy Bob Edlin
    20 hours ago
  • Bryce Edwards: Is it time for an Integrity Commission to monitor conflicts of interest?
    News that the Government’s new Parliamentary Undersecretary for Health, Todd Stephenson, has been pressured today to sell his investments in pharmaceutical companies shows how New Zealand is becoming more sensitive and suspicious about politicians’ “conflicts of interest”. Yet, we need to get much more serious about creating rules and procedures ...
    Democracy ProjectBy bryce.edwards
    21 hours ago
  • Forget the loud-hailers Minister, what you need is TikTok
    Chris Trotter writes – It almost worked. “Matua Shane”, local supporters in tow, advanced down the main street of Blackball. Had the Minister for Resources, Shane Jones, been supplied with a full-sized loud-hailer to amplify his pro-mining slogans, then the photo-op would have been an unqualified success. Unfortunately, the ...
    Point of OrderBy poonzteam5443
    23 hours ago
  • Did the Reserve Bank massage its OCR forecasts to help Labour keep power? (we’ve found evidence po...
    Rob MacCulloch writes –  Last year, in the lead up to the national election, Governor Orr said in May 2023 that he was “very confident” there would not be further interest rate hikes, stating the Reserve Bank had done enough in terms of rate rises. He was interviewed by ...
    Point of OrderBy poonzteam5443
    1 day ago
  • Parliament’s increasingly toxic ethnic identity wars
    Bryce Edwards writes Toxicity and disinformation are becoming a big part of New Zealand politics. And much of this relates to debates about ethnicity, race, and racism. We should all be concerned about this trend. Personal abuse, dishonesty, and contempt in the public sphere are bad for democracy, ...
    Point of OrderBy poonzteam5443
    1 day ago
  • Bernard’s Dawn Chorus and pick ‘n’ mix for Tuesday, May 28
    House-building and infrastructure industry leaders are begging the Government for project-pipeline certainty and warning of a 2009/10-style exodus of skilled staff overseas. Photo: Lynn Grieveson / The KākāTL;DR: The National-ACT-NZ First Coalition Government won last year’s election with a pledge to ‘get things done’ and ‘get New Zealand back on ...
    The KakaBy Bernard Hickey
    1 day ago
  • Slippery People.
    What's the matter with him? (He's alright)How do you know? (The Lord won't mind)Don't play no games (he's alright)Love from the bottom to the top.You’re alright, but how about her, or him? What makes them tick? Are they a solid citizen or a slippery fecker? Why are we all so ...
    Nick’s KōreroBy Nick Rockel
    1 day ago
  • Children’s Voices in Auckland’s Future
    Recently, the transport consultancy Crank publicly released a report about children’s vision for transport in Auckland. It was produced in 2023 to help shape Auckland Council’s Vehicle Kilometres Travelled (VKT) Reduction Strategy. That got me thinking, and after going back to the recent Long Term Plan Consultation Feedback results, one ...
    Greater AucklandBy Connor Sharp
    1 day ago
  • Med school backdown the “right thing” says Seymour
    One of National’s showpiece election promises appears to be in more trouble with Waikato University yesterday withdrawing its call for tenders to develop a new medical school. The move will delay any substantial increase in the number of doctors being trained in New Zealand. The University’s decision just over a ...
    PolitikBy Richard Harman
    1 day ago
  • Of ‘said’ and Dialogue Tags in Writing
    Today, I ran across a Twitter thread about writerly use of the word ‘said’: https://x.com/APoetForThePyre/status/1794895108581859794 As a writer, I have my opinions about this, and since it has been a long, long time since I offered thoughts on the unwritten rules of writing, I thought I would explore the matter ...
    2 days ago
  • The silent tragedy of local restrictions on renewable energy
    This story by James Goodwin was originally published by The Revelator and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. Communities across the United States may soon find themselves facing a grim scenario. By adopted local ordinances that obstruct the development of new renewable energy resources within ...
    2 days ago
  • Bryce Edwards: Parliament’s increasingly toxic ethnic identity wars
    Toxicity and disinformation are becoming a big part of New Zealand politics. And much of this relates to debates about ethnicity, race, and racism. We should all be concerned about this trend. Personal abuse, dishonesty, and contempt in the public sphere are bad for democracy, social cohesion, and the integrity ...
    Democracy ProjectBy bryce.edwards
    2 days ago
  • What to say on the government’s racist Māori wards bill
    I've spent the afternoon working on my submission on the Local Government (Electoral Legislation and Māori Wards and Māori Constituencies) Amendment Bill - National's racist bill to eliminate Māori representation from local government. It's an important bill, and the timeframe for submissions is tight - only two days left! National ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Collins will be abroad when critics react to science funding – but Matauranga money should not be ...
    Buzz from the Beehive With just a few days to go before Finance Minister Nicola Willis delivers her first Budget speech, her colleagues have been focused in recent days on issues beyond our shores. Education Minister Erica Stanford made the only announcement of concern to citizens who want to know ...
    Point of OrderBy Bob Edlin
    2 days ago
  • New Caledonia’s troubles
    James Kierstead writes –  White sand beaches. Palm trees waving in a gentle breeze. Seas of turquoise and ultramarine, cobalt and denim stretching out as far as the eye can see.  Such is the view of New Caledonia that you get on travel websites. And it’s not an ...
    Point of OrderBy poonzteam5443
    2 days ago
  • The Negative social impact of taxpayer-funded partisan charities
    Bryce Edwards writes –  Whenever politicians dole out taxpayer funding to groups or individuals, they must do so in a wholly transparent way with due process to ensure conflicts of interest don’t occur and that the country receives value for money. Unfortunately, it’s not clear that this has ...
    Point of OrderBy poonzteam5443
    2 days ago
  • The Letter from Mayors & Chairs
    Frank Newman writes –  Earlier this week Local Government NZ sent a letter to the leaders of the coalition parties and Ministers Simeon Brown and Tama Potaka. It was signed by 52 local government leaders (see list appended). The essence of the letter is this: Our position…is ...
    Point of OrderBy poonzteam5443
    2 days ago
  • Gordon Campbell on South Africa’s harsh election choices
    T he ANC’s goal in Wednesday’s election will be to staunch the bleeding of its support. The ANC has reason to feel anxious. For months, the polls have been indicating the ANC will lose its overall majority for the first time since the Mandela election of 1994. The size of ...
    2 days ago
  • The Kaka’s diary for the week to June 3 and beyond
    TL;DR: The six key events to watch in Aotearoa-NZ’s political economy in the week to June 3 include:PM Christopher Luxon is expected to hold his weekly post-cabinet news conference at 4:00pm today.Parliament’s Environment Select Committee resumes hearing submissions on the Fast-track Approvals Bill from 9:00 am to 5:00 pm today.Auckland ...
    The KakaBy Bernard Hickey
    2 days ago
  • May-24 AT Board Meeting
    Tomorrow the AT board meet again and I’ve taken a look through the items on their public agenda to see what’s interesting. It’s also the first meeting for two recently appointed directors, former director at Ritchies Transport, Andrew Ritchie and former mayor of Hamilton, Julie Hardaker. The public session starts ...
    2 days ago
  • Bernard’s Dawn Chorus and pick ‘n’ mix for Monday, May 27
    The Government is looking again at changing fringe benefit tax rules to make it harder to claim a personally-used double-cab ute as a company vehicle. Photo: Lynn Grieveson / The KākāTL;DR: Having repealed the previous Government’s ‘ute tax’ last year, the new Government is looking at removing a defacto tax ...
    The KakaBy Bernard Hickey
    2 days ago
  • Some Dark Moments from Netflix's Dark Tourist
    Hi,I pitched a documentary to a big streamer last week and they said “no thanks” which is a bummer, because we’d worked on the concept for ages and I think it would have been a compelling watch. But I would say that because I was the one pitching it, right?As ...
    David FarrierBy David Farrier
    2 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #21
    A listing of 34 news and opinion articles we found interesting and shared on social media during the past week: Sun, May 19, 2024 thru Sat, May 25, 2024. Story of the week This week's typiclal compendium of stories we'd rather were plot devices in science ficition novels but instead ...
    3 days ago
  • National’s bulldozer dictatorship bill
    This National government has been aggressively anti-environment, and is currently ramming through its corrupt Muldoonist "fast-track" legislation to give three ministers dictatorial powers over what gets built and where. But that's not the only thing they're doing. On Thursday they introduced a Resource Management (Freshwater and Other Matters) Amendment Bill, ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • Bryce Edwards: The Negative social impact of taxpayer-funded partisan charities
    Whenever politicians dole out taxpayer funding to groups or individuals, they must do so in a wholly transparent way with due process to ensure conflicts of interest don’t occur and that the country receives value for money. Unfortunately, it’s not clear that this has occurred in the announcement this week ...
    Democracy ProjectBy bryce.edwards
    3 days ago
  • My Lovely Man.
    Last night began earlier than usual. In bed by 6:30pm, asleep an hour later. Sometimes I do sleep odd hours, writing late and/or getting up very early - complemented with the occasional siesta, but I’m usually up a bit later than that on a Saturday night. Last night I was ...
    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Pressing the Big Red Button
    Early in the COVID-19 days, the Boris Johnson government pressed a Big Red Button marked: act immediately, never mind about the paperwork.Their problem was: not having enough PPE gear for all the hospital and emergency staff. Their solution was to expedite things and get them the gear ASAP.This, along with ...
    More Than A FeildingBy David Slack
    3 days ago
  • Of Pensioners and Student Loans: An Indictment on New Zealand
    Up until 1989, you could attend a New Zealand University, and never need to pay a cent for your education. That then changed, of course. The sadists of the Fourth Labour Government introduced substantial fees for study, never having had to pay a cent for their own education. The even ...
    3 days ago
  • Putting children first
    Ele Ludemann writes –  Minister for Children Karen Chhour is putting children first: Hon KAREN CHHOUR: I move, That the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill be now read a first time. I nominate the Social Services and Community Committee to consider the bill. It’s a privilege ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Te Pati Maori go personal
    David Farrar writes –  Newshub reports:    Applause and cheers erupted in the House on Wednesday afternoon as Children’s Minister Karen Chhour condemned Te Pāti Māori’s insults about her upbringing. Chhour, who grew up in state care, is repealing section 7AA of the Oranga Tamariki Act – sparking uproar from ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Threads of Corruption
    I could corrupt youIt would be uglyThey could sedate youBut what good would drugs be?Good Morning all,Today there’s a guest newsletter from Gerard Otto (G). By which I mean I read his post this morning and he has kindly allowed me to share it with you.If you don’t already I ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • The days fly by
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past week’s editions.Share Read more ...
    More Than A FeildingBy David Slack
    4 days ago
  • Aotearoa, you’re being dismantled… so take the blinkers off and start talking honestly about it.
    Is the solution to any of the serious, long term issues we all have to face as a nation, because many governments of all stripes we can probably all admit if we’re deeply truthful with ourselves haven’t done near enough work at the very times they should have, to basically ...
    exhALANtBy exhalantblog
    5 days ago
  • Has Labour Abandoned the Welfare State They Created in 1938?
    The 2018 Social Security Act suggests that Labour may have retreated to the minimalist (neo-liberal) welfare state which has developed out of the Richardson-Shipley ‘redesign’. One wonders what Michael Joseph Savage, Peter Fraser and Walter Nash would have thought of the Social Security Act passed by the Ardern Labour Government ...
    PunditBy Brian Easton
    5 days ago
  • Bryce Edwards: MPs’ financial interests under scrutiny
    MPs are supposed to serve the public interest, not their own self-interest. And according to the New Zealand Parliament’s website, democracy and integrity are tarnished whenever politicians seek to enrich themselves or the people they are connected with. For this reason, the Parliament has a “Register of Pecuniary Interests” in ...
    Democracy ProjectBy bryce.edwards
    5 days ago
  • Mastering FLICC – A Cranky Uncle themed quiz
    By now, most of you will have heard about the FLICC taxonomy of science denial techniques and how you can train your skills in detecting them with the Cranky Uncle game. If you like to quickly check how good you are at this already, answer the 12 quiz questions in the ...
    5 days ago
  • Shane Jones has the zeal, sure enough, but is too busy with his mining duties (we suspect) to be ava...
    Buzz from the Beehive The hacks of the Parliamentary Press Gallery have been able to chip into a rich vein of material on the government’s official website over the past 24 hours. Among the nuggets is the speech by Regional Development Minister Shane Jones and a press statement to announce ...
    Point of OrderBy Bob Edlin
    5 days ago
  • Cut the parliamentary term
    When Labour was in power, they wasted time, political capital, and scarce policy resources on trying to extend the parliamentary term to four years, in an effort to make themselves less accountable to us. It was unlikely to fly, the idea having previously lost two referendums by huge margins - ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • More terrible media ethics
    David Farrar writes – The Herald reports: When Whanau Ora chief executive John Tamihere was asked what his expectations for the Budget next Thursday were, he said: “All hope is lost.” Last year Whānau Ora was allocated $163.1 million in the Budget to last for the next four years ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Bringing our democracy into disrepute
    On Monday the government introduced its racist bill to eliminate Māori represntation in local government to the House. They rammed it through its first reading yesterday, and sent it to select committee. And the select committee has just opened submissions, giving us until Wednesday to comment on it. Such a ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • The censors who’ll save us from ourselves… yeah right!
    Nick Hanne writes – There’s a common malady suffered by bureaucracies the world over. They wish to save us from ourselves. Sadly, NZ officials are no less prone to exhibiting symptoms of this occupational condition. Observe, for instance, the reaction from certain public figures to the news ...
    Point of OrderBy poonzteam5443
    5 days ago
  • The case for commissioners to govern the capital city
    Peter Dunne writes – As the city of Tauranga prepares to elect a new Mayor and Council after three and a half years being run by government-appointed Commissioners, the case for replacing the Wellington City Council with Commissioners strengthens. The Wellington City Council has been dysfunctional for years, ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Thoughts about contemporary troubles.
    This will be s short post. It stems from observations I made elsewhere about what might be characterised as some macro and micro aspects of contemporary collective violence events. Here goes. The conflicts between Israel and Palestine and France and … Continue reading ...
    KiwipoliticoBy Pablo
    5 days ago
  • Gordon Campbell On Blurring The Lines Around Political Corruption
    It may be a relic of a previous era of egalitarianism, but many of us like to think that, in general, most New Zealanders are as honest as the day is long. We’re good like that, and smart as. If we’re not punching above our weight on the world stage, ...
    5 days ago
  • MPs own 2.2 houses on average
    Bryce Edwards writes – Why aren’t politicians taking more action on the housing affordability crisis? The answer might lie in the latest “Register of Pecuniary Interests.” This register contains details of the various financial interests of parliamentarians. It shows that politicians own real estate in significant numbers. The ...
    Point of OrderBy Bob Edlin
    5 days ago
  • King Mike & Mike King.
    I built a time machine to see you againTo hear your phone callYour voice down the hallThe way we were back thenWe were dancing in the rainOur feet on the pavementYou said I was your second headI knew exactly what you meantIn the country of the blind, or so they ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Bryce Edwards: MPs own 2.2 houses on average
    Why aren’t politicians taking more action on the housing affordability crisis? The answer might lie in the latest “Register of Pecuniary Interests.” This register contains details of the various financial interests of parliamentarians. It shows that politicians own real estate in significant numbers. The register published on Tuesday contains a ...
    Democracy ProjectBy bryce.edwards
    5 days ago
  • How much climate reality can the global financial system take without collapsing?
    Microsoft’s transparency about its failure to meet its own net-zero goals is creditable, but the response to that failure is worrying. It is offering up a set of false solutions, heavily buttressed by baseless optimism. Photo: Lynn Grieveson / The KākāTL;DR: Here’s the top six news items of note in ...
    The KakaBy Bernard Hickey
    5 days ago
  • Weekly Roundup 24-May-2024
    Another Friday, another Rāmere Roundup! Here are a few things that caught our eye this week. This Week in Greater Auckland On Monday, our new writer Connor Sharp roared into print with a future-focused take on the proposed Auckland Future Fund, and what it could invest in. On ...
    Greater AucklandBy Greater Auckland
    5 days ago
  • Earning The Huia Feather.
    Still Waiting: Māori land remains in the hands of Non-Māori. The broken promises of the Treaty remain broken. The mana of the tangata whenua languishes under racist neglect. The right to wear the huia feather remains as elusive as ever. Perhaps these three transformations are beyond the power of a ...
    5 days ago
  • Bernard’s Dawn Chorus and pick ‘n’ mix for Friday, May 24
    Posters opposing the proposed Fast-Track Approvals legislation were pasted around Wellington last week. Photo: Lynn Grieveson / The KākāTL;DR: One of the architects of the RMA and a former National Cabinet Minister, Simon Upton, has criticised the Government’s Fast-Track Approvals bill as potentially disastrous for the environment, arguing just 1% ...
    The KakaBy Bernard Hickey
    5 days ago
  • The Hoon around the week to May 24
    There was less sharing of the joy this week than at the Chinese New Year celebrations in February. China’s ambassador to NZ (2nd from right above) has told Luxon that relations between China and New Zealand are now at a ‘critical juncture’ Photo: Getty / Xinhua News AgencyTL;DR: The podcast ...
    The KakaBy Bernard Hickey
    5 days ago
  • Beijing troubleshooter’s surprise visit
    The importance of New Zealand’s relationship with China was surely demonstrated yesterday with the surprise arrival in the capital of top Chinese foreign policy official Liu Jianchao. The trip was apparently organized a week ago but kept secret. Liu is the Minister of the Chinese Communist Party’s (CCP) International Liaison ...
    PolitikBy Richard Harman
    5 days ago
  • UK election a foregone conclusion?  That’s why it’s interesting
    With a crushing 20-plus point lead in the opinion polls, all the signs are that Labour leader Keir Starmer will be the PM after the general election on 4 July, called by Conservative incumbent Rishi Sunak yesterday. The stars are aligned for Starmer.  Rival progressives are in abeyance: the Liberal-Democrat ...
    Point of OrderBy xtrdnry
    6 days ago
  • Skeptical Science New Research for Week #21 2021
    Open access notables How much storage do we need in a fully electrified future? A critical review of the assumptions on which this question depends, Marsden et al., Energy Research & Social Science: Our analysis advances the argument that current approaches reproduce interpretations of normality that are, ironically, rooted in ...
    6 days ago
  • Days in the life
    We returned last week from England to London. Two different worlds. A quarter of an hour before dropping off our car, we came to a complete stop on the M25. Just moments before, there had been six lanes of hurtling cars and lorries. Now, everything was at a standstill as ...
    More Than A FeildingBy David Slack
    6 days ago
  • Forget about its name and focus on its objective – this RMA reform bill aims to cut red tape (and ...
    Buzz from the Beehive A triumvirate of ministers – holding the Agriculture, Environment and RMA Reform portfolios – has announced the introduction of legislation “to slash the tangle of red and green tape throttling development in key sectors”, such as farming, mining and other primary industries. The exact name of ...
    Point of OrderBy Bob Edlin
    6 days ago
  • More National corruption
    In their coalition agreement with NZ First, the National Party agreed to provide $24 million in funding to the charity "I Am Hope / Gumboot Friday". Why were they so eager to do so? Because their chair was a National donor, their CEO was the son of a National MP ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Submit!
    The Social Services and Community Committee has called for submissions on the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill. Submissions are due by Wednesday, 3 July 2024, and can be made at the link above. And if you're wondering what to say: section 7AA was enacted because Oranga Tamariki ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Reading the MPS numbers thinking about the fiscal situation
    Michael Reddell writes –  The Reserve Bank doesn’t do independent fiscal forecasts so there is no news in the fiscal numbers in today’s Monetary Policy Statement themselves. The last official Treasury forecasts don’t take account of whatever the government is planning in next week’s Budget, and as the Bank notes ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Charter Schools are a worthwhile addition to our school system – but ACT is mis-selling why they a...
    Rob MacCulloch writes – We know the old saying, “Never trust a politician”, and the Charter School debate is a good example of it. Charter Schools receive public funding, yet “are exempt from most statutory requirements of traditional public schools, including mandates around .. human capital management .. curriculum ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Paranoia On The Left.
    How Do We Silence Them? The ruling obsession of the contemporary Left is that political action undertaken by individuals or groups further to the right than the liberal wings of mainstream conservative parties should not only be condemned, but suppressed.WEB OF CHAOS, a “deep dive into the world of disinformation”, ...
    6 days ago
  • Budget challenges
    Muriel Newman writes –  As the new Government puts the finishing touches to this month’s Budget, they will undoubtedly have had their hands full dealing with the economic mess that Labour created. Not only was Labour a grossly incompetent manager of the economy, but they also set out ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Rishi calls an Election.
    Today the British PM, Rishi Sunak, called a general election for the 4th of July. He spoke of the challenging times and of strong leadership and achievements. It was as if he was talking about someone else, a real leader, rather than he himself or the woeful list of Tory ...
    Nick’s KōreroBy Nick Rockel
    6 days ago
  • Photo of the Day: GNR
    This post marks the return of an old format: Photo of the Day. Recently I was in an apartment in one of those new buildings on Great North Road Grey Lynn at rush hour, perfect day, the view was stunning, so naturally I whipped out my phone: GNR 5pm Turns ...
    Greater AucklandBy Patrick Reynolds
    6 days ago
  • Choosing landlords and the homeless over first home buyers
    The Government may struggle with the political optics of scrapping assistance for first home buyers while also cutting the tax burden on landlords, increasing concerns over the growing generational divide. Photo: Lynn Grieveson / The KākāTL;DR: The Government confirmed it will dump first home buyer grants in the Budget next ...
    The KakaBy Bernard Hickey
    6 days ago

  • Government improves mass arrival management
    The Government has strengthened settings for managing a mass arrival, with the passing of the Immigration (Mass Arrivals) Amendment Bill today.  “While we haven’t experienced a mass arrival event in New Zealand, it is an ongoing possibility which would have a significant impact on our immigration and court systems,” Immigration ...
    BeehiveBy beehive.govt.nz
    5 hours ago
  • Super Fund to get more investment opportunities
    Finance Minister Nicola Willis has welcomed the passage of legislation giving the New Zealand Superannuation Fund a wider range of investment opportunities. The New Zealand Superannuation and Retirement Income (Controlling Interests) Amendment Bill passed its third reading in Parliament today. “The bill removes a section in the original act that ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Crown and iwi settle three decades of negotiations
    Three decades of negotiations between iwi and the Crown have been settled today as the Whakatōhea Claims Settlement Bill passes its third reading in Parliament, Treaty Negotiations Minister Paul Goldsmith says. “While no settlement can fully compensate for the Crown’s past injustices, this settlement will support the aspirations and prosperity ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • New Zealand to support PNG landslide response
    New Zealand will support Papua New Guinea’s response to the devastating landslide in Enga Province, Foreign Minister Winston Peters and Defence Minister Judith Collins have announced.   “Ever since learning of the horrendous landslide on Friday, New Zealand has been determined to play our part in assisting Papua New Guinea’s ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Government to consult on regulation of shooting clubs and ranges
      The Government is consulting New Zealanders on a package of proposals for simple and effective regulation of shooting clubs and ranges, Associate Minister of Justice, Nicole McKee announced today.   “Clubs and ranges are not only important for people learning to operate firearms safely, to practice, and to compete, ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Successful New Caledonia repatriation winds up, need for dialogue remains
    Over 300 people have been successfully flown out of New Caledonia in a joint Ministry of Foreign Affairs and Trade (MFAT) and New Zealand Defence Force (NZDF) operation.   As of today, seven New Zealand government aircraft flights to Nouméa have assisted around 225 New Zealanders and 145 foreign nationals ...
    BeehiveBy beehive.govt.nz
    24 hours ago
  • Minister to Singapore for defence, technology talks
    Defence and Science, Innovation and Technology Minister Judith Collins departs for Singapore tomorrow for defence and technology summits and meetings. First up is the Asia Tech X Singapore Summit, followed by the Five Power Defence Arrangements Defence Ministers Meeting and wrapping up with the Shangri-La Dialogue for Defence Ministers from ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Major investment in teacher supply through Budget 24
    Over the next four years, Budget 24 will support the training and recruitment of 1,500 teachers into the workforce, Education Minister Erica Stanford announced today. “To raise achievement and develop a world leading education system we’re investing nearly $53 million over four years to attract, train and retain our valued ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Joint statement on the New Zealand – Cook Islands Joint Ministerial Forum – 2024
    1.  New Zealand Deputy Prime Minister and Minister of Foreign Affairs Rt Hon Winston Peters; Minister of Health and Minister for Pacific Peoples Hon Dr Shane Reti; and Minister for Climate Change Hon Simon Watts hosted Cook Islands Minister of Foreign Affairs and Immigration Hon Tingika Elikana and Minister of Health Hon Vainetutai Rose Toki-Brown on 24 May ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Middle East, Africa deployments extended
    The Government has approved two-year extensions for four New Zealand Defence Force deployments to the Middle East and Africa, Defence Minister Judith Collins and Foreign Minister Winston Peters announced today. “These deployments are long-standing New Zealand commitments, which reflect our ongoing interest in promoting peace and stability, and making active ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Climate Change Commission Chair to retire
    The Climate Change Commission Chair, Dr Rod Carr, has confirmed his plans to retire at the end of his term later this year, Climate Change Minister Simon Watts says. “Prior to the election, Dr Carr advised me he would be retiring when his term concluded. Dr Rod Carr has led ...
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    5 days ago
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