Rashbrooke touches on the solution (or at least the best available chance) when he mentions taxation….our domestic inflation can be controlled by taxing that which we want more of less and vice versa, especially if it is progressive.
Until we openly recognise that 'work' (output) is what supports an economy we will continue to fail…..and speculation isnt 'work' as much as those engaged in it will claim otherwise….make work rewarding (again)
“.and speculation isnt 'work' as much as those engaged in it will claim otherwise”
I don't think anyone is claiming that. There are some, mostly supporters of capital gains taxes, who claim that gains from speculation constitute "income". However those gains are offset by losses on the part of buyers, so don't affect the money supply.
Na ,you go get a mortgage the bank tells you how much you can go to on a given property, if they were limited to lending at no more than inflation then house prices couldn't rocket out of control and investors would need to be in it for long term rental profits instead of going for massive capital gain.
Houses generally double in price every 10 years, its ridiculous
It's also what helped screw us with dairy, banks happily lending way to much for conversions etc valuing farms based on very high prices for milk solids and outputs based on heaps of fert, irrigation and supplemental feed… the bank doesnt care the bigger the mortgage the more interest paid amd the better their balance sheet.
Dangerously close to irresponsible lending if you ask me…
TOP is suggesting a 100% loan to value ratio for rental purposes. This would mean that an intending landlord would not be able to enter the market unless he already owned an available freehold property, or had sufficient funds to be able to purchase one without borrowing. I think he has plagiarized one or two of my earlier comments.
Banks and finance companies loan to those with assets and perpetuate a bad system. Greedy asset holders are the problem…they seek out the loans to add to their already large asset bases and inflate asset values.
A few who have over reached are being impacted by the current credit squeeze and interest rises and revision of values against other commodities.
Banks and Finance Companies are complicit, but not the whole problem, but are the conduit for Asset Owner's GREED.
The process you refer to cannot happen unless finance is available for your so called "greedy asset holders" to access.
The process is a circular one. The more the banks lend against property the more prices rise, and the more interest the banks earn. And the more prices rise the more money the banks can lend. To put a stop to the process we need to curtail bank lending. We can't blame "greedy asset holders" for taking advantage of the situation as it exists.
Alternatively we could try to discourage them by making property investment less attractive, e.g. by taxing property ownership.
Shrinking demand via taxation has most of the same problems as shrinking demand via monetary policy. NZs price hikes are due to supply side factors, coming from overseas or are otherwise related to market structure.
It's possible to shrink the demand side down to match the supply side while that's going on, but its pretty socially destructive. It also damages your economic resilience and productivity for once supply side inflationary pressures abate.
If domestic inflation was coming from the demand side the understanding would be different.
"Shrinking demand via taxation has most of the same problems as shrinking demand via monetary policy."
And there is your mistake….it depends upon the target of the taxation.
What is fuelling the RBNZ fear of a price/wage spiral?…the pressures exerted by overpriced assets (property) on both labour and inputs.
It is not the working poor that are continuing to support the higher prices in NZ…as Rashbrooke notes "If there genuinely is excess cash, it sits in the hands of the well-off. But current policies don’t target them. "
The Reserve Bank has to take into account unemployment as well as inflation as part of its remit.
Rashbrooke's solutions are a bit waffly for me, though he is right about raising interest rates being a blunt tool and in terms of higher pay for workers being seen as a good thing rather than being seen as a cost to business.
No. The RB remit has to take into account rising unemployment/the level of employment. If unemployment is judged to be rising too quickly interest rate rises would have to be smaller or even reversed.
The RBNZ should talk to INZ so that that we can open the borders asap and flood the labour markets with poorly checked cheap labour from who-cares. Oh wait, that sounds remarkably similar to National’s second bullet point on their PowerPoint slide that they call Plan for Aotearoa 2023-2024 with the footnote saying We are better managers of the egonomy.
The better understood, how these policies are supposed to work, are the easier to point out the assumptions involved (such as the assumption, not recorded in the data, that median NZ wages are too high and driving inflation).
Is that the same TOP under which Gareth Morgan proposed taking 1/3 of beneficiaries income and redistributing it to everybody else as a bonus (called UBI sans welfare). Mr Rashbrooke seems more socially responsible than that, to me.
I think that he's absolutely fine where he is and continue his excellent work outside of Parliament and most certainly not sell his soul to some political cult party.
Are they all cults or just top? They come across as more progressive than any other and not blinded by ideology like the rest. although to be honest I haven't given them much attention of late.
Russia puts Bellingcat partner Dobrokhotov on wanted list: Journalist is accused of illegally crossing state border into Ukraine
The Russian authorities have put Roman Dobrokhotov, the founder of online publication The Insider, on the country’s wanted list, after he fled the country by allegedly illegally crossing the border to Ukraine’s Lugansk region…..
….Dobrokhotov was placed on a wanted list after apparently fleeing Russia by crossing the border to Ukraine’s Lugansk region. At the same time, the police raided his parents’ home, and brought his wife in for questioning.
Following the charges, he announced that he had “had every right to leave the territory of Russia,” despite his passport being seized, calling the criminal case a means of pressuring his relatives.
How about that? Last week, 'The Russian authorities' didn't consider the territory of Lugansk, to be part of Russia. This week Putin claimed Lugansk is part of Russia.
Will the Russian authorities be dropping the charges of illegally crossing into a foreign country brought against Russian journalist Roman Dobrokhotov?
I can recall that even as a child I remember feeling the saying and song that people have no control over their fate was terribly depressing and fatalistic.
The opposite is true.
Ukraine's victory is not fated. It is hard won.
Sure. With American weapons, which the Russians seem unable to match. I think the latter will eventually have to resort to their own nuclear weapons in order to defend themselves.
"….I think the latter will eventually have to resort to their own nuclear weapons in order to defend themselves." Mikesh
This war is not Russia defending 'themselves', Mikesh.
Invading and forcibly occupying territory of a neighbouring sovereign country is not defence.
Mikesh calling for Russia to use nuclear weapons to prevail in this aggression. Is to call for genocide.
Nuclear weapons are the ultimate weapon of genocide. Killing far more people in less time than any other previous invented method. No need for messy cattle cars or the construction of complex networks of death camps and crematoria.
Committing and calling for genocide is the hallmark of fascists.
This is what the Ukrainian people of the Donbas think of people like you and your dirty ilk.
Its not possible to watch RT. In the interest of monopoly propaganda from the West, many alternative sources have been banned, not only from TV but also YouTube and Twitter.
As Ukraine advances into Kherson threaten to close the land bridge to Crimea, and with the sea bridge gone. Crimea is about to become physically cut off from Russia.
I suspect many of the inhabitants of Crimea will be secretly renewing their Ukrainian passports.
For years, Lotto pitched certain stores as "lucky". They weren't. In fact, the chances of becoming a problem gambler far outweigh the chances of winning a big Powerball prize.
King Charles III Conflicted Head of The Commonweath
Why hasn’t Jacinda, Anthony and Justine (along with the other PMs of 13 Kingly states) stood up to Lizz Truss and insisted that the Head of the Commonwealth, that includes NZ, Australia, and Canada along with 54 other independent states, should be allowed to represent our collective views at COP27. Apparently, Liz’s decision was made is because she has appointed a Climate Denier Jacob Rees-Mogg as her UK Environmental Minister, and she doesn’t want to be embarrassed by her King’s views on the world stage. On the other hand, Global Warning is a serious international issue, Charles III is our King and head of the Commonwealth and apparently well qualified to represent smaller states that are anxious about the impacts of climate change. Moreover in 1961 our former Queen set a precedent for independent action by ignoring Thatcher’s “advice” not a to attend the Commonwealth conference on Apartheid, danced with the PM of Ghana and thereby “saved” the Commonwealth from breaking up. The question we might ask ourselves, if Liz has so much power over our present head of state why do we bother keeping him on?
“ the use of Crimean crews amounted to "indirect sponsorship of Russia's war crimes".
“there are doubts over the towns and addresses on their official documentation, which places them as being from the Russian Federation and not other contested regions currently, or historically, fought over.”
Crimea is an annexed Ukrainian state so if they were Crimean born not Russian, no problem.
“Sources claim the crews are "aggressively pro-war and pro-Putin", it's alleged, broadcasting Russian "propaganda" on the fishing boats and allegedly "mandated" to hang Putin's portrait in the galley and wardroom”.
This activity needs banning on a NZ registered boat until Russia stops its aggression in the Ukraine.
Let's see how many get on the plane to go home when their contract ends.
They'd all be liable for conscription so would be quite pleased to be tucked away down south for the duration. And is Uncle Vlad's portrait hanging the right way up for here or up north.
Drowsy M. KramTak, comrade, never liked Russian fudge as much as the chocolate kind â hope sanctions kick in before the school gala. Rooting for the underdog of the moment. 6.2.1.1
Sorry weka, I copied the text of my comment before deleting it, and then tried to paste the copied text into a new comment – must have pasted in the wrong place.
I'm sure Russia would be more than happy to talk peace with the Ukrainian government. However the latter seems more interested in saving face rather than agreeing to peace talks. In any case I'm pretty sure Mr Biden would not allow it.
Should've been banned decades ago on legal grounds – they pay illegally low wages – which is the whole point.
Contemporary NZ politicians are however utterly corrupt. "Slave & trafficked workers? Have as many as you like!" they say. As long as they're off camera, that is.
Crimea is an annexed Ukrainian state so if they were Crimean born not Russian, no problem.
The majority of Crimea's citizenry are ethnic Russians. From 1954 to the end of the soviet era Crimea was administered from Ukraine, but that did not imply that it "belonged" to Ukraine. I think it was a separate oblast within the soviet system and doubt whether Russia acquiesced in a transfer of ownership – though of course I could be wrong. After the soviet collapse Yeltsin may have handed it over, though I doubt whether Putin would have agreed to a handover had he been in power at the time.
In 2014 a referendum indicated that a majority of its citizens did not want to be part of Ukraine. It has been suggested that the referendum was phony, but this has never been proved, and foreign observers present in Crimea at the time seemed to think that the result was kosher. This was the basis for Russia's annexation, though the real reason was that ownership of the territory was important for Russia’s defense.
Another hurdle to overcome for life to emerge has been discovered.
Waterfalls.
Some worlds like Saturn's 6th moon Enceladus, may be covered in deep oceans. But without waterfalls, (and land), the emergence of life may not be possible.
….Basically, for life to form, it needs water, but also the loss of some water.
Cooks explained this “water paradox,” to VICE. “The water paradox is the contradiction between (i) the very considerable evidence that the chemical reactions leading to life occurred in the prebiotic ocean and (ii) the thermodynamic constraint against exactly these (water loss) reactions occurring in water….
….tiny droplets flying through the air or sliding down rocks, interacting with the air and forming quick chemical reactions. “The rates of reactions in droplets are anywhere from a hundred to a million times faster than the same chemicals reacting in bulk solution,” said Cooks.
This speedy chemical reactions do not require a catalyst to begin the reaction, which made the evolution of life on Earth possible. The team used “droplet fusion” experiments to reconstruct the possible formation of peptides, that simulate how water droplets collide in the air.
Add this to the growing mountain of evidence already collected, points toward the conclusion that except for this small corner, the universe is as inanimate as it is vast.
" Auckland Action Against Poverty is one of those groups with on-the-ground experience, and co-chair Agnes Magele said the report did not give the full picture.
" She said the government's decisions and actions were partly to blame for keeping people locked in poverty "
The Chekist thug has memory-holed his predecessors' atrocities.
Liquidation of the International Memorial
12/28/2021
On December 28, 2021, the Supreme Court of the Russian Federation decided to liquidate the International Memorial.
The formal reason stated in the suit of the General Prosecutor's Office is the absence of the label “foreign agent” on some materials. During the hearing, the inconsistency of these claims was clearly demonstrated.
But today, the court finally named not a formal reason, but the real reason for the liquidation of the International Memorial: the General Prosecutor's Office claims that we are misinterpreting Soviet history, “creating a false image of the USSR as a terrorist state,” “lashing out criticism at the state authorities”. And the state, according to our opponents, is beyond criticism.
The decision of the Supreme Court once again confirmed that the history of political terror organized and directed by the state authorities remains for Russia not an academic topic of interest only to specialists, but an acute problem of our time. Our country needs an honest and conscientious reflection on the Soviet past; this is the guarantee of her future. It is ridiculous to believe that the judicial liquidation of International Memorial will remove this issue from the agenda. The entire Russian society needs to remember the tragedies of the past. And not only Russian: the memory of state terror unites all the former Soviet republics.
Of course, we will challenge the decision of the Supreme Court of the Russian Federation in all ways available to us. And we will find legitimate ways to continue our work. A memorial is not an organization, it is not even a social movement. The memorial is the need of the citizens of Russia for the truth about its tragic past, about the fate of many millions of people. And no one will be able to "eliminate" this need.
Today is Poot's 70th. Awarding prizes to a human rights group that he shut down, a Ukrainian rights group documenting his war crimes and a Belarusian rights activist imprisoned by his bestie Lukashenko.
I don't see why the protesters should be awarded the peace prize when they have not succeeded in bringing about an actual peace in Ukraine. The award in this case seems to be just a gimmick to further demonize Russia. Protesters against the Vietnam war were not awarded the peace prize; but of course in that conflict it was the USA and its supporters that were being protested against.
The rail bridge looks unusable due distortion of the metal and likely weakening of reinforcing steel in the rail bridge concrete. Also, I imagine the extreme heat would weld the train wheels to the tracks. So, clearing the train off the bridge is not going to be easy.
I am expecting the expected offensive towards Melitopol to start straight away now. It would be a great move to have the Russians fighting on three fronts while their logistics are stuffed.
I fixed the link. If you link to the person's twitter account, the tweet gets lost in the embed as new tweets are posted. Instead, click on the date/time stamp of the tweet you are referring to, then copy and paste the URL.
From a supply point of view, the key thing will be how badly the rail bridge is damaged. Obviously the train will need to be cleared off. But it might not simply roll off because the heat will have distorted the metal of the rails and the wheels, and may have even welded the rails to some of the wheels if the fire was hot enough. Then, likely rails will need to be replaced.
So, in the best case, I would say the rail bridge will be out of action for at least a week. But if the heat has damaged the integrity of the bridge itself, then it could be out a lot longer.
That bridge also pipes water and electricity to Crimea – albeit not enough. As Kherson falls, those utilities are likely to be in short supply.
The big engineers in the region are Ukraine, not Russia. They built both the Moskva and the Admiral Kuznetsov. A massive floating crane can likely fix the rail part rapidly (about a month) if Russia still have one. I think they're going to have a few too many problems however.
A month should be long enough. If the Ukrainians start the third front towards Melitopol the stress on the remaining Russian logistics could be too much.
The Ukrainians are putting major stress on the Russian logistics in the north at the moment as well. So, I think this is definitely a major turning point in the war.
If you look at that link you fixed for me, it looks very much like a truck exploding. That is what the Russians are saying. Though, other reports I have seen, have pointed out that freeze-frames show some sort of boat coming into view. I know the US has given the Ukrainians some drone boats. So, it isn't absolutely clear. But it is definitely a large explosion.
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Some of the recent announcements from the government have reminded us of posts we’ve written in the past. Here’s one from early 2020. There were plenty of reactions to the government’s infrastructure announcement a few weeks ago which saw them fund a bunch of big roading projects. One of ...
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Hi,I felt a small wet tongue snaking through one of the holes in my Crocs. It explored my big toe, darting down one side, then the other. “He’s looking for some toe cheese,” said the woman next to me, words that still haunt me to this day.Growing up in New ...
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Day one of the solo leg of my long journey home begins with my favourite sound: footfalls in an empty street. 5.00 am and it’s already light and already too warm, almost.If I can make the train that leaves Budapest later this hour I could be in Belgrade by nightfall; ...
Do you remember Y2K, the threat that hung over humanity in the closing days of the twentieth century? Horror scenarios of planes falling from the sky, electronic payments failing and ATMs refusing to dispense cash. As for your VCR following instructions and recording your favourite show - forget about it.All ...
Climate Change Minister Simon Watts being questioned by The Kākā’s Bernard Hickey.TL;DR: My top six things to note around housing, climate and poverty in Aotearoa’s political economy in the week to July 20 were:1. A strategy that fails Zero Carbon Act & Paris targetsThe National-ACT-NZ First Coalition Government finally unveiled ...
Summary:As New Zealand loses at least 12 leaders in the public service space of health, climate, and pharmaceuticals, this month alone, directly in response to the Government’s policies and budget choices, what lies ahead may be darker than it appears. Tui examines some of those departures and draws a long ...
The Minister of Housing’s ambition is to reduce markedly the ratio of house prices to household incomes. If his strategy works it would transform the housing market, dramatically changing the prospects of housing as an investment.Leaving aside the Minister’s metaphor of ‘flooding the market’ I do not see how the ...
As previously noted, my historical fantasy piece, set in the fifth-century Mediterranean, was accepted for a Pirate Horror anthology, only for the anthology to later fall through. But in a good bit of news, it turned out that the story could indeed be re-marketed as sword and sorcery. As of ...
An employee of tobacco company Philip Morris International demonstrates a heated tobacco device. Photo: Getty ImagesTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy on Friday, July 19 are:At a time when the Coalition Government is cutting spending on health, infrastructure, education, housing ...
TL;DR: My pick of the top six links elsewhere around housing, climate and poverty in Aotearoa’s political economy in the last day or so to 8:30 am on Friday, July 19 are:Scoop: NZ First Minister Casey Costello orders 50% cut to excise tax on heated tobacco products. The minister has ...
Kia ora, it’s time for another Friday roundup, in which we pull together some of the links and stories that caught our eye this week. Feel free to add more in the comments! Our header image this week shows a foggy day in Auckland town, captured by Patrick Reynolds. ...
TL;DR : Here’s the top six items climate news for Aotearoa this week, as selected by Bernard Hickey and The Kākā’s climate correspondent Cathrine Dyer. A discussion recorded yesterday is in the video above and the audio of that sent onto the podcast feed.The Government released its draft Emissions Reduction ...
Save some money, get rich and old, bring it back to Tobacco Road.Bring that dynamite and a crane, blow it up, start all over again.Roll up. Roll up. Or tailor made, if you prefer...Whether you’re selling ciggies, digging for gold, catching dolphins in your nets, or encouraging folks to flutter ...
Waiting In The Wings:For truly, if Trump is America’s un-assassinated Caesar, then J.D. Vance is America’s Octavian, the Republic’s youthful undertaker – and its first Emperor.DONALD TRUMP’S SELECTION of James D. Vance as his running-mate bodes ill for the American republic. A fervent supporter of Viktor Orban, the “illiberal” prime ...
TL;DR: As of 6:00 am on Friday, July 19, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:The PSAannounced the Employment Relations Authority (ERA) had ruled in the PSA’s favour in its case against the Ministry ...
TL;DR: The podcast above of the weekly ‘hoon’ webinar for paying subscribers last night features co-hosts and talking with:The Kākā’s climate correspondent talking about the National-ACT-NZ First Government’s release of its first Emissions Reduction Plan;University of Otago Foreign Relations Professor and special guest Dr Karin von ...
Open access notablesImproving global temperature datasets to better account for non-uniform warming, Calvert, Quarterly Journal of the Royal Meteorological Society:To better account for spatial non-uniform trends in warming, a new GITD [global instrumental temperature dataset] was created that used maximum likelihood estimation (MLE) to combine the land surface ...
A late change to charter school legislation will cheat educators out of fair pay and negotiating power proving charter schools are just a vehicle to make profit out of our education system. ...
In 2004 te iwi Māori rallied against the Crown’s attempt to confiscate our coastlines and moana with the Foreshore and Seabed Act. This led to the largest hīkoi of a generation and the birth of Te Pāti Māori. 20 years later, history is repeating itself. Today the government has announced ...
It has been five and a half years since the Royal Commission of Inquiry into Abuse in Care was established to investigate the abuse of children, young people, and vulnerable adults within state and faith-based institutions. Yesterday, the final report - Whanaketia through pain and trauma, from darkness to light ...
The Green Party is calling on the Government to take action off the back of the International Court of Justice ruling on Israel’s illegal occupation of Palestine. ...
On Friday the International Court of Justice reaffirmed what Palestinian’s have been telling us for decades: that the occupation and colonisation of Palestinian lands by Israel is illegal and must end immediately. They also called for reparations for Palestinian’s who have lived under Israeli occupation since it began in 1967. ...
Labour calls on the Government to act after the International Court of Justice (ICJ) ruled that Israel’s occupation of Palestinian Territories is illegal. ...
The 53.7 percent rise in benefit sanctions over the last year is more proof of this Government’s disdain for our communities most in need of support. ...
Aotearoa could be a country where every child grows up feeling safe, loved and with a sense of belonging in their whānau and community. But for some of our children, this is far from reality. Instead, they are trapped in a maze of intergenerational harm that they can’t escape on ...
Te Pāti Māori are calling for David Seymour to resign as Associate Health Minister in response to his call for Pharmac to ignore the Treaty of Waitangi. “This announcement is just another example of the government’s anti-Tiriti, anti-Māori agenda.” Said Co-leader and spokesperson for health, Debbie Ngarewa-Packer. “Seymour thinks it ...
The soaring price of renting is driving the rise of inflation in this country - with latest figures from Stats NZ showing rents are up 4.8 per cent on average while annual inflation is at 3.3 per cent. ...
National’s Emissions Reduction Plan will take New Zealand further from the economy we need to ensure the next generation has a stable climate and secure livelihoods. ...
Following consultation with named parties and thorough consideration of privacy interests, the Green Party is in a position to release the Executive Summary of the final report from the independent investigation into Darleen Tana. ...
Prime Minister Christopher Luxon should be asking serious questions of his Minister for Resources Shane Jones now it’s been revealed he misled the public about a dinner with mining companies that he didn’t declare and said wasn’t pre-arranged. ...
Te Pāti Māori have submitted to the Justice Select Committee against the Sentencing (Reinstating Three Strikes) Amendment Bill. The bill will further entrench racism in our justice system and fails to focus on rehabilitation. “Reinstating Three Strikes will empower a systematically racist system and exacerbate the overrepresentation of Māori in ...
The Transport and Infrastructure Committee is set to make a determination on the Residential Tenancies Amendment (RTA) Bill in the coming weeks. “This legislation will give landlords the power to kick our whānau out onto the street for no reason” said Housing spokesperson, Mariameno Kapa-Kingi. “Their solution to the housing ...
“National’s campaign was about tackling crime and the best they can do is a two-year long Ministerial Advisory Group,” Labour justice spokesperson Duncan Webb said. ...
“There are more examples of charter schools failing their students than there are success stories. The coalition Government is driving to dismantle our public school system and instead promote a privatised, competitive structure that puts profits before kids,” Jan Tinetti said. ...
“This government is choosing to deliberately mislead and withhold information, keeping our people in the dark about this government’s agenda and the future of our mokopuna,” said co-leader and spokesperson for Health, Debbie Ngarewa-Packer. The call comes after the demand from the Chief Ombudsman that Associate Minister of Health, Casey ...
“Today’s climate announcement by Simon Watts makes clear the National Government is simply paying lip service to meeting its climate change targets,” Megan Woods said. ...
National is choosing to make life harder for workers by taking away the rights our communities have fought hard for. Here's how they’re taking workers backwards. ...
Australia, Canada and New Zealand today issued the following statement on the need for an urgent ceasefire in Gaza and the risk of expanded conflict between Hizballah and Israel. The situation in Gaza is catastrophic. The human suffering is unacceptable. It cannot continue. We remain unequivocal in our condemnation of ...
Attorney-General Judith Collins today reminded all State and faith-based institutions of their legal obligation to preserve records relevant to the safety and wellbeing of those in its care. “The Abuse in Care Inquiry’s report has found cases where records of the most vulnerable people in State and faith‑based institutions were ...
Minister of Internal Affairs Brooke van Velden says the Government’s online safety website for children and young people has reached one million page views. “It is great to see so many young people and their families accessing the site Keep It Real Online to learn how to stay safe online, and manage ...
Tēnā tātou katoa, Ngā mihi te rangi, ngā mihi te whenua, ngā mihi ki a koutou, kia ora mai koutou. Thank you for the opportunity to be here and the invitation to speak at this 50th anniversary conference. I acknowledge all those who have gone before us and paved the ...
New Zealand’s payroll providers have successfully prepared to ensure 3.5 million individuals will, from Wednesday next week, be able to keep more of what they earn each pay, says Finance Minister Nicola Willis and Revenue Minister Simon Watts. “The Government's tax policy changes are legally effective from Wednesday. Delivering this tax ...
An experimental vineyard which will help futureproof the wine sector has been opened in Blenheim by Associate Regional Development Minister Mark Patterson. The covered vineyard, based at the New Zealand Wine Centre – Te Pokapū Wāina o Aotearoa, enables controlled environmental conditions. “The research that will be produced at the Experimental ...
The Coalition Government has confirmed the indicative regional breakdown of North Island Weather Event (NIWE) funding for state highway recovery projects funded through Budget 2024, Transport Minister Simeon Brown says. “Regions in the North Island suffered extensive and devastating damage from Cyclone Gabrielle and the 2023 Auckland Anniversary Floods, and ...
Indonesia’s Foreign Minister, Retno Marsudi, will visit New Zealand next week, Foreign Minister Winston Peters has announced. “Indonesia is important to New Zealand’s security and economic interests and is our closest South East Asian neighbour,” says Mr Peters, who is currently in Laos to engage with South East Asian partners. ...
He aha te kai a te rangatira? He kōrero, he kōrero, he kōrero. The government has reaffirmed its commitment to supporting the aspirations of Ngāti Maniapoto, Minister for Māori Development Tama Potaka says. “My thanks to Te Nehenehenui Trust – Ngāti Maniapoto for bringing their important kōrero to a ministerial ...
Transport Minister Simeon Brown has thanked outgoing Chair of the Civil Aviation Authority, Janice Fredric, for her service to the board.“I have received Ms Fredric’s resignation from the role of Chair of the Civil Aviation Authority,” Mr Brown says.“On behalf of the Government, I want to thank Ms Fredric for ...
The Government is proposing legislation to overturn a Court of Appeal decision and amend the Marine and Coastal Area Act in order to restore Parliament’s test for Customary Marine Title, Treaty Negotiations Minister Paul Goldsmith says. “Section 58 required an applicant group to prove they have exclusively used and occupied ...
Regulation Minister David Seymour says that opposition parties have united in bad faith, opposing what they claim are ‘dangerous changes’ to the Early Childhood Education sector, despite no changes even being proposed yet. “Issues with affordability and availability of early childhood education, and the complexity of its regulation, has led ...
After receiving more than 740 submissions in the first 20 days, Regulation Minister David Seymour is asking the Ministry for Regulation to extend engagement on the early childhood education regulation review by an extra two weeks. “The level of interest has been very high, and from the conversations I’ve been ...
The Coalition Government is investing $802.9 million into the Wairarapa and Manawatū rail lines as part of a funding agreement with the NZ Transport Agency (NZTA), KiwiRail, and the Greater Wellington and Horizons Regional Councils to deliver more reliable services for commuters in the lower North Island, Transport Minister Simeon ...
Local Government Minister Simeon Brown has announced his intention to appoint a Crown Manager to both Hawke’s Bay Regional and Wairoa District Councils to speed up the delivery of flood protection work in Wairoa."Recent severe weather events in Wairoa this year, combined with damage from Cyclone Gabrielle in 2023 have ...
Mr Speaker, this is a day that many New Zealanders who were abused in State care never thought would come. It’s the day that this Parliament accepts, with deep sorrow and regret, the Report of the Royal Commission of Inquiry into Abuse in Care. At the heart of this report are the ...
For the first time, the Government is formally acknowledging some children and young people at Lake Alice Psychiatric Hospital experienced torture. The final report of the Royal Commission of Inquiry into Abuse in State and Faith-based Care “Whanaketia – through pain and trauma, from darkness to light,” was tabled in Parliament ...
The Government has acknowledged the nearly 2,400 courageous survivors who shared their experiences during the Royal Commission of Inquiry into Historical Abuse in State and Faith-Based Care. The final report from the largest and most complex public inquiry ever held in New Zealand, the Royal Commission Inquiry “Whanaketia – through ...
With a week to go before hard-working New Zealanders see personal income tax relief for the first time in fourteen years, 513,000 people have used the Budget tax calculator to see how much they will benefit, says Finance Minister Nicola Willis. “Tax relief is long overdue. From next Wednesday, personal income ...
Workplace Relations and Safety Minister Brooke van Velden says a bill that has passed its first reading will improve parental leave settings and give non-biological parents more flexibility as primary carer for their child. The Regulatory Systems Amendment Bill (No3), passed its first reading this morning. “It includes a change ...
Two Bills designed to improve regulation and make it easier to do business have passed their first reading in Parliament, says Economic Development Minister Melissa Lee. The Regulatory Systems (Economic Development) Amendment Bill and Regulatory Systems (Immigration and Workforce) Amendment Bill make key changes to legislation administered by the Ministry ...
New legislation paves the way for greater competition in sectors such as banking and electricity, Commerce and Consumer Affairs Minister Andrew Bayly says. “Competitive markets boost productivity, create employment opportunities and lift living standards. To support competition, we need good quality regulation but, unfortunately, a recent OECD report ranked New ...
Minister of Internal Affairs Brooke van Velden says lotteries for charitable purposes, such as those run by the Heart Foundation, Coastguard NZ, and local hospices, will soon be allowed to operate online permanently. “Under current laws, these fundraising lotteries are only allowed to operate online until October 2024, after which ...
The Coalition Government is accelerating work on the new four-lane expressway between Auckland and Whangārei as part of its Roads of National Significance programme, with an accelerated delivery model to deliver this project faster and more efficiently, Transport Minister Simeon Brown says. “For too long, the lack of resilient transport connections ...
Sir Don McKinnon will travel to Viet Nam this week as a Special Envoy of the Government, Foreign Minister Winston Peters has announced. “It is important that the Government give due recognition to the significant contributions that General Secretary Nguyen Phu Trong made to New Zealand-Viet Nam relations,” Mr ...
Minister of Internal Affairs Brooke van Velden says newly appointed Commissioner, Grant Illingworth KC, will help deliver the report for the first phase of the Royal Commission of Inquiry into COVID-19 Lessons, due on 28 November 2024. “I am pleased to announce that Mr Illingworth will commence his appointment as ...
Foreign Minister Winston Peters travels to Laos this week to participate in a series of Association of Southeast Asian Nations (ASEAN)-led Ministerial meetings in Vientiane. “ASEAN plays an important role in supporting a peaceful, stable and prosperous Indo-Pacific,” Mr Peters says. “This will be our third visit to ...
Construction of a new mental health facility at Te Nikau Grey Hospital in Greymouth is today one step closer, Mental Health Minister Matt Doocey says. “This $27 million facility shows this Government is delivering on its promise to boost mental health care and improve front line services,” Mr Doocey says. ...
New Zealand is committing nearly $50 million to a package supporting sustainable Pacific fisheries development over the next four years, Foreign Minister Winston Peters and Oceans and Fisheries Minister Shane Jones announced today. “This support consisting of a range of initiatives demonstrates New Zealand’s commitment to assisting our Pacific partners ...
Associate Education Minister David Seymour says proposed changes to the Education and Training Amendment Bill will ensure charter schools have more flexibility to negotiate employment agreements and are equipped with the right teaching resources. “Cabinet has agreed to progress an amendment which means unions will not be able to initiate ...
In response to serious concerns around oversight, overspend and a significant deterioration in financial outlook, the Board of Health New Zealand will be replaced with a Commissioner, Health Minister Dr Shane Reti announced today. “The previous government’s botched health reforms have created significant financial challenges at Health NZ that, without ...
Minister for Space and Science, Innovation and Technology Judith Collins will travel to Adelaide tomorrow for space and science engagements, including speaking at the Australian Space Forum. While there she will also have meetings and visits with a focus on space, biotechnology and innovation. “New Zealand has a thriving space ...
Climate Change Minister Simon Watts will travel to China on Saturday to attend the Ministerial on Climate Action meeting held in Wuhan. “Attending the Ministerial on Climate Action is an opportunity to advocate for New Zealand climate priorities and engage with our key partners on climate action,” Mr Watts says. ...
Oceans and Fisheries Minister Shane Jones is travelling to the Solomon Islands tomorrow for meetings with his counterparts from around the Pacific supporting collective management of the region’s fisheries. The 23rd Pacific Islands Forum Fisheries Committee and the 5th Regional Fisheries Ministers’ Meeting in Honiara from 23 to 26 July ...
The Government today launched the Military Style Academy Pilot at Te Au rere a te Tonga Youth Justice residence in Palmerston North, an important part of the Government’s plan to crackdown on youth crime and getting youth offenders back on track, Minister for Children, Karen Chhour said today. “On the ...
The Government has welcomed news the NZ Transport Agency (NZTA) has begun work to replace nine priority bridges across the country to ensure our state highway network remains resilient, reliable, and efficient for road users, Transport Minister Simeon Brown says.“Increasing productivity and economic growth is a key priority for the ...
Acting Prime Minister David Seymour has been in contact throughout the evening with senior officials who have coordinated a whole of government response to the global IT outage and can provide an update. The Department of the Prime Minister and Cabinet has designated the National Emergency Management Agency as the ...
New Zealand and Japan will continue to step up their shared engagement with the Pacific, Foreign Minister Winston Peters says. “New Zealand and Japan have a strong, shared interest in a free, open and stable Pacific Islands region,” Mr Peters says. “We are pleased to be finding more ways ...
New developments in the heart of North Island forestry country will reinvigorate their communities and boost economic development, Regional Development Minister Shane Jones says. Mr Jones visited Kaingaroa and Kawerau in Bay of Plenty today to open a landmark community centre in the former and a new connecting road in ...
President Adeang, fellow Ministers, honourable Diet Member Horii, Ambassadors, distinguished guests. Minasama, konnichiwa, and good afternoon, everyone. Distinguished guests, it’s a pleasure to be here with you today to talk about New Zealand’s foreign policy reset, the reasons for it, the values that underpin it, and how it ...
Last summer when Matairangi burned, Ginny and Tom stood at the window of their lounge, watching kākā shoot skyward from the burning trees. From the distance, they looked to Ginny like pages torn from books and thrown into a bonfire. It was Tom, voice tight, who told her it was ...
Opinion: The Canadian short story writer Alice Munro – winner of the Nobel Prize in Literature in 2013 – died in May at the age of 92. Her work was about “the damage people inflict on one another in the name of love”, Deborah Treisman wrote in the New Yorker. ...
This month marks two years since the most powerful telescope ever built sent its first pictures back to earth. From its lofty vantage point, beyond the moon in orbit around the sun, the James Webb Space Telescope was tuned to observe the first stars and galaxies being born soon after ...
Comment: After Climate Change Minister Simon Watts’ preview several weeks ago, I had some optimism about the Government’s emissions reduction plan. Now I’ve read the discussion document, that hope has been dashed. How can the Government propose a plan that wants to take New Zealand taxpayers’ hard-earned money, and spend ...
Christopher Luxon: hurdles The little man from National jumps hurdles in his sleep. He’s quite good at it in his dreams and even though the reality doesn’t quite match up you have to give him credit for getting up every morning and crashing into the very first hurdle of the ...
Comment: It was a good two hours into the conversation when Tyrone Marks raised the most basic of questions when I first spoke to him in 2017. “They didn’t explain the things they did to me. They never told me why. And they still haven’t. There’s no explanation for it. ...
Madeleine Chapman rounds out Death Week on The Spinoff with a final recommendation. You can read all of our Death Week coverage here. Nothing forces you to reflect on your life and relationships quite like proximity to death. For those whose nearest and dearest have died, there are reasonably obvious ...
Whitney Greene takes us through her life in television, including the TV character she’d like to plan a funeral for and her cow lung catastrophe on The Traitors NZ. “If the phone rings, I have to answer it,” Whitney Greene from The Traitors NZ warns as we begin our My ...
Maddie Ballard reviews the debut essay collection of Pōneke writer Flora Feltham.In ‘The Raw Material’, the longest essay in Flora Feltham’s dazzling debut collection, the author heads out for a run after hours of weaving and sees the world turn to textile. “Pounding along the Parade, I saw the ...
Andy Christiansen, one half of the experimental rock-pop duo TRiPS, shares the tunes inspiring the band’s perfect weekend and new release. “Good speakers, good food, good music, no distractions”: that’s all you need to enjoy the psychedelic stylings of TRiPS, a new band formed by Fly My Pretties’ Barnaby Weir ...
Celebrating our quadrennial opportunity to become experts in a bunch of sports we never normally watch.The games of the XXXIII Olympiad are upon us. Paris will host this year’s showcase of sporting and athletic prowess, which means some late-night and early-morning viewing for us in Aotearoa.But what sports ...
The photograph is striking and beautiful, but also disturbing – a reminder that my love for John was often entangled in shame.The Sunday Essay is made possible thanks to the support of Creative New Zealand.In the spring of 1980, in Dunedin, shortly before his death, someone took a photograph ...
Get to know Babushka, our latest Dog of the Month. This feature was offered as a reward during our What’s Eating Aotearoa PledgeMe campaign. Thank you to Babu’s humans, Jo and Isabel, for their support. Dog name: Babushka (Babu for short) Age: 2Breed: Border Collie X poodleIf rescued, ...
Pacific Media Watch A Lebanese photojournalist who was severely wounded during an Israeli air strike in south Lebanon carried the Olympic torch in Paris this week in honour of her peers who have been wounded and killed in the field — especially in Gaza and Lebanon. Christina Assi of Agence ...
The first report in a five-part web series focused on the 15th Triennial Conference of Pacific Women taking place in the Marshall Islands this week.SPECIAL REPORT:By Netani Rika in Majuro Women continue to fight for justice 70 years after the first nuclear tests by the United States caused ...
Christopher Luxon has joined with Australia and Canada's leaders in voicing support for US President Joe Biden's ceasefire deal between Israel and Hamas. ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The 2022 election brought the “teal wave” into parliament. The next election will test whether teals, who occupy what were Liberal seats, and other independents can maintain their momentum. Joining us on the Podcast ...
Source: The Conversation (Au and NZ) – By Ian Musgrave, Senior lecturer in Pharmacology, University of Adelaide Pixavri/Shutterstock A major Federal Court class action has been dismissed this week after Justice Michael Lee ruled there was not enough evidence to prove the weedkiller Roundup causes cancer. Plaintiff Kelvin ...
In The Week in Politics: politicians have to decide what to do about child abuse, Health NZ is booked in for major surgery and Darleen Tana returns. ...
Source: The Conversation (Au and NZ) – By Clare Corbould, Associate Professor, Contemporary Histories Research Group, Deakin University Mainstream media are surprisingly muted at the prospect of the world’s most powerful nation being led for the first time by a woman – specifically a woman of colour, Vice President Kamala ...
Source: The Conversation (Au and NZ) – By Rebecca Bennett, PhD Student, Associate Research Fellow, Deakin University Last week, a drone delivery company called Wing (owned by Google’s parent company, Alphabet) started operating in Melbourne. Some 250,000 residents in parts of the city’s eastern suburbs can now order food from ...
Source: The Conversation (Au and NZ) – By Jonathan Foo, Lecturer, Physiotherapy, Monash University pikselstock/Shutterstock In the next 40 years in Australia, it’s predicted the number of Australians aged 65 and over will more than double, while the number of people aged 85 and over will more than triple. ...
Source: The Conversation (Au and NZ) – By Katrina Grant, Research Associate, Power Institute for Arts and Visual Culture, University of Sydney Jonas Åkerström’s 1790 work, Session of the Accademia dell’Arcadia on August 17 1788.Nationalmuseum/Cecilia Heisser Ever wondered whether you’d have a better chance at winning an Olympic gold ...
Source: The Conversation (Au and NZ) – By Alexandra Jones, Program Lead, Food Governance, George Institute for Global Health wavebreakmedia/Shutterstock On Thursday, Australian and New Zealand food ministers at state, federal and national levels met to thrash out what’s next for health star ratings on packaged foods. Now, after ...
The Abuse in Care report found many Pacific survivors lost their connections to their culture and language, resulting in trauma that has been carried from generation to generation. ...
In the regulatory review, ECC intends to suggest that ERO focus on curriculum delivery reviews rather than the Ministry, because it’s not efficient or effective to have two agencies with radically different approaches climbing over each other. ...
Te Rūnanga Nui o Ngā Kura Kaupapa Māori invites the current government to work in partnership with them to develop a pathway forward, including the development of a parallel pathway and meaningful policy and strategy for Kura Kaupapa Māori ...
If you haven’t started watching yet, Tara Ward begs you to reconsider. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. In the world of New Zealand reality television, we have many gems in our crown. There’s the delicious second season of the Celebrity Treasure ...
A new poem by Fiona Kidman. The clothes of the dead I did not keep my mother’s furry red beret for long nor the stringy scarves that adorned the necks of my aunts, although I have kept tag ends of gold, the rings and trinkets they wore, the brooches no ...
The government’s announcement that it will re-open the foreshore and seabed controversy by changing the rules on recognising centuries-old Māori customary title for a third time goes against the rule of law and New Zealand values,” Mr Tipa says. ...
The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington.AUCKLAND1 Lioness by Emily Perkins (Bloomsbury, $25) Roarrrr! Perkins’ brilliant, award-winning, Marian-Keyes anointed, darkly funny, long ...
The 2004 Act vested ownership of the foreshore and seabed in the Crown, extinguishing any Māori claims to ownership and causing widespread outrage and protests among Māori communities. ...
Source: The Conversation (Au and NZ) – By Antje Deckert, Associate Professor (Criminology), Auckland University of Technology Getty Images Despite the connection between institutional harm and gang membership made clear in this week’s mammoth royal commission abuse-in care report, the government seems unlikely to soften its “get tough on ...
From Lewis Clareburt in the swimming to the start of the rowing – the first seven days of Paris 2024 promise to be big for New Zealand. There are few events that bring the country together quite like an Olympic Games. Nothing quite matches the excitement of getting up in ...
Groundbreaking local science just showed up in the most surprising of places: the season finale of The Kardashians. In the season five finale of The Kardashians last night, several members of the family gathered together in one of their signature empty, cream-coloured rooms to hear test results that had been ...
Source: The Conversation (Au and NZ) – By Amin Saikal, Emeritus professor of Middle Eastern and Central Asian Studies, Australian National University The Middle East is on the brink of a possibly devastating regional war, with hostilities between Israel and Hezbollah reaching an extremely dangerous level. Washington has engaged in ...
Source: The Conversation (Au and NZ) – By Laura Elizabeth Eades, Rheumatologist, Monash University Lupus is an inflammatory autoimmune illness, where the body’s immune system mistakenly attacks itself. Lupus can affect virtually any part of the body, although it most commonly affects the skin, joints and kidneys. The symptoms ...
A law firm that specialises in working with survivors of abuse in State care is disappointed that the Government fails to recognise that its boot camps can be directly compared to previous boot camps from the 1990s and 2000s. ...
Dying is a natural part of life, like updating your Wof or seeing your hairdresser, but without the word-of-mouth recs that help guarantee a good service. What if we changed that? Dying Reviews received by The Spinoff have had the names of organisations redacted while Hospice NZ collects further data. ...
Source: The Conversation (Au and NZ) – By Jonti Horner, Professor (Astrophysics), University of Southern Queensland Mike Lewinski/Flickr, CC BY On any clear night, if you gaze skywards long enough, chances are you’ll see a meteor streaking through the sky. Some nights, however, are better than others. At ...
Despite having no bars or other designated spaces for lesbians, Auckland boasts a small but mighty lesbian museum. So how did it get here? The past 18 months has brought increasing hostility towards the queer community across Aotearoa. Kellie-Jay Keen-Minshull’s anti-trans rally in Tamaki Makaurau last March led to a ...
Poneke Antifascist Coalition has invited Wellingtonians to stand in solidarity with the Kanak people at 12pm today outside the French Embassy in Wellington. ...
Source: The Conversation (Au and NZ) – By Peter Layton, Visiting Fellow, Strategic Studies, Griffith University Drones are the signature technology of the Ukraine war. A few miniature aircraft designs were used in the war’s early days, but an incredible array of drones have now evolved. There are different types, ...
Source: The Conversation (Au and NZ) – By Mark Slee, Associate Professor, Clinical Academic Neurologist, Flinders University Francisco Gonzelez/Unsplash Migraine is many things, but one thing it’s not is “just a headache”. “Migraine” comes from the Greek word “hemicrania”, referring to the common experience of migraine being predominantly ...
Source: The Conversation (Au and NZ) – By Lee White, Senior Lecturer and Horizon Fellow, School of Social and Political Sciences, University of Sydney Australia was slow to introduce minimum building standards for energy efficiency. The Nationwide House Energy Rating Scheme (NatHERS) only came into force in 2003. Older homes ...
Source: The Conversation (Au and NZ) – By Steven Sherwood, Professor of Atmospheric Sciences, Climate Change Research Centre, UNSW Sydney The past century of human-induced warming has increased rainfall variability over 75% of the Earth’s land area – particularly over Australia, Europe and eastern North America, new research shows. ...
Source: The Conversation (Au and NZ) – By Tony Heynen, Program Coordinator, Sustainable Energy, The University of Queensland A temporary stadium in the Champ-de-Mars, ParisEkaterina Pokrovsky/Shutterstock As Paris prepares to host the Olympic and Paralympic Games, the sustainability of the event is coming under scrutiny. The organisers have promoted ...
A night of karaoke and community in a pub that feels like a memory. You’d barely even notice it, unless you knew to look. Tucked away behind a liquor store on busy Constable Street is the capital’s last great pub. Newtown Sports Bar is an emblem of the pub culture ...
Source: The Conversation (Au and NZ) – By Ian Wright, Professor in Marine Geology, University of Canterbury Louise Corcoran/Getty Images The decline in the number of doctoral candidates at New Zealand universities is a worrying sign for the country’s effort to build a knowledge-based economy. Aotearoa New Zealand’s ...
Source: The Conversation (Au and NZ) – By Laurie Berg, Associate Professor, University of Technology Sydney defotoberg/Shutterstock Migrant worker exploitation is entrenched in workplaces across Australia. Tragically, a deep fear of immigration consequences means most unlawful employer conduct goes unreported. On Wednesday, however, the government officially launched a ...
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https://i.stuff.co.nz/national/129996098/the-covid-cloud-and-the-silver-lining-was-change-possible
Pandemic as a portal?
Re imagineing money?
A hefty read for your breakfast.
https://i.stuff.co.nz/opinion/130102321/max-rashbrooke-sacrificing-50000-workers-on-the-altar-of-inflation-is-madness
Max Rashbrooke ripping into the arsholes that think we need to chuck 50.000 people on the scrap heap so rich people get to keep spending?
Go support stuff by the way ,they are doing tremendous work
Rashbrooke touches on the solution (or at least the best available chance) when he mentions taxation….our domestic inflation can be controlled by taxing that which we want more of less and vice versa, especially if it is progressive.
Until we openly recognise that 'work' (output) is what supports an economy we will continue to fail…..and speculation isnt 'work' as much as those engaged in it will claim otherwise….make work rewarding (again)
“.and speculation isnt 'work' as much as those engaged in it will claim otherwise”
I don't think anyone is claiming that. There are some, mostly supporters of capital gains taxes, who claim that gains from speculation constitute "income". However those gains are offset by losses on the part of buyers, so don't affect the money supply.
Define 'money'…they certainly impact the supply of credit as we have witnessed.
So it is excessive bank lending that is the problem, not the speculation. All I can say is: "so what else is new"
Finally, some else who think it's the banks that cause housing inflation. it's always sheeted home to the market or the buyers.
Without a market or buyers speculating how would a bank cause housing price inflation?
They all play a role.
Everyone involved is seeking to maximise their return and as pat intimated, the whole process provides very little benefit to the rest of us.
Na ,you go get a mortgage the bank tells you how much you can go to on a given property, if they were limited to lending at no more than inflation then house prices couldn't rocket out of control and investors would need to be in it for long term rental profits instead of going for massive capital gain.
Houses generally double in price every 10 years, its ridiculous
It's also what helped screw us with dairy, banks happily lending way to much for conversions etc valuing farms based on very high prices for milk solids and outputs based on heaps of fert, irrigation and supplemental feed… the bank doesnt care the bigger the mortgage the more interest paid amd the better their balance sheet.
Dangerously close to irresponsible lending if you ask me…
TOP is suggesting a 100% loan to value ratio for rental purposes. This would mean that an intending landlord would not be able to enter the market unless he already owned an available freehold property, or had sufficient funds to be able to purchase one without borrowing. I think he has plagiarized one or two of my earlier comments.
Mikkesh.
Flippant and fact free.
Banks and finance companies loan to those with assets and perpetuate a bad system. Greedy asset holders are the problem…they seek out the loans to add to their already large asset bases and inflate asset values.
A few who have over reached are being impacted by the current credit squeeze and interest rises and revision of values against other commodities.
Banks and Finance Companies are complicit, but not the whole problem, but are the conduit for Asset Owner's GREED.
Patricia
The process you refer to cannot happen unless finance is available for your so called "greedy asset holders" to access.
The process is a circular one. The more the banks lend against property the more prices rise, and the more interest the banks earn. And the more prices rise the more money the banks can lend. To put a stop to the process we need to curtail bank lending. We can't blame "greedy asset holders" for taking advantage of the situation as it exists.
Alternatively we could try to discourage them by making property investment less attractive, e.g. by taxing property ownership.
Monetarism: Your soaking in it.
Shrinking demand via taxation has most of the same problems as shrinking demand via monetary policy. NZs price hikes are due to supply side factors, coming from overseas or are otherwise related to market structure.
It's possible to shrink the demand side down to match the supply side while that's going on, but its pretty socially destructive. It also damages your economic resilience and productivity for once supply side inflationary pressures abate.
If domestic inflation was coming from the demand side the understanding would be different.
"Shrinking demand via taxation has most of the same problems as shrinking demand via monetary policy."
And there is your mistake….it depends upon the target of the taxation.
What is fuelling the RBNZ fear of a price/wage spiral?…the pressures exerted by overpriced assets (property) on both labour and inputs.
It is not the working poor that are continuing to support the higher prices in NZ…as Rashbrooke notes "If there genuinely is excess cash, it sits in the hands of the well-off. But current policies don’t target them. "
The Reserve Bank has to take into account unemployment as well as inflation as part of its remit.
Rashbrooke's solutions are a bit waffly for me, though he is right about raising interest rates being a blunt tool and in terms of higher pay for workers being seen as a good thing rather than being seen as a cost to business.
So you think we should raise the unemployment rate to curb inflation?
No. The RB remit has to take into account rising unemployment/the level of employment. If unemployment is judged to be rising too quickly interest rate rises would have to be smaller or even reversed.
The RBNZ should talk to INZ so that that we can open the borders asap and flood the labour markets with poorly checked cheap labour from who-cares. Oh wait, that sounds remarkably similar to National’s second bullet point on their PowerPoint slide that they call Plan for Aotearoa 2023-2024 with the footnote saying We are better managers of the egonomy.
Very clever Incognito especially the 'egonomy'.![smiley smiley](https://cdn2.thestandard.org.nz/wp-content/plugins/ark-wysiwyg-comment-editor/ckeditor/plugins/smiley/images/regular_smile.png?x42494)
That's an excellent link.
The better understood, how these policies are supposed to work, are the easier to point out the assumptions involved (such as the assumption, not recorded in the data, that median NZ wages are too high and driving inflation).
I thought Mr Rashbrooke would be a good fit for the TOP
Is that the same TOP under which Gareth Morgan proposed taking 1/3 of beneficiaries income and redistributing it to everybody else as a bonus (called UBI sans welfare). Mr Rashbrooke seems more socially responsible than that, to me.
I think that he's absolutely fine where he is and continue his excellent work outside of Parliament and most certainly not sell his soul to some political
cultparty.Are they all cults or just top? They come across as more progressive than any other and not blinded by ideology like the rest. although to be honest I haven't given them much attention of late.
Wasn’t thinking of any party in particular.
From the Kremlin mouthpiece RT
How about that? Last week, 'The Russian authorities' didn't consider the territory of Lugansk, to be part of Russia. This week Putin claimed Lugansk is part of Russia.
Will the Russian authorities be dropping the charges of illegally crossing into a foreign country brought against Russian journalist Roman Dobrokhotov?
Somehow, I don't think so.
I don't watch RT, but I suspect that crossing an imaginary border is not the real reason he has been placed on a wanted list.
In my opinion Mikesh, Roman Dobrokhotov is one of the few people to have crossed the Ukrainian border legally in recent times.
Guilty of crossing this border illegally, 200,000 Russian troops who illegally crossed this border on February 24, 2022.
We will see how ‘imaginary’ this border is Mikesh, when they are forcibly pushed back over it.
As the song says;
Que sera, sera. Whatever will be, will be. The future's not ours to see. Que sera, sera.
I can recall that even as a child I remember feeling the saying and song that people have no control over their fate was terribly depressing and fatalistic.
The opposite is true.
Ukraine's victory is not fated. It is hard won.
He tangata, He tangata, He Tangata.
https://commons.com.ua/en/yak-inozemni-livi-dopomagayut-ukrayini-u-vijni/?
The future is ours to win.
It is hard won.
Sure. With American weapons, which the Russians seem unable to match. I think the latter will eventually have to resort to their own nuclear weapons in order to defend themselves.
'
"….With American weapons, which the Russians seem unable to match." Mikesh
It is not just the weapons that Russians seem unable to match.
The willingness to fight and die in Putin’s war, is also something that the Russians are unable to match.
And as for the American weapons. The people of Ukraine would fight the Russians with sticks and stones if they had to.
"The arc of history is long but it bends towards justice" Martin Luther King
All the American weapons have done is shortened the arc of history.
'
"….I think the latter will eventually have to resort to their own nuclear weapons in order to defend themselves." Mikesh
This war is not Russia defending 'themselves', Mikesh.
Invading and forcibly occupying territory of a neighbouring sovereign country is not defence.
Mikesh calling for Russia to use nuclear weapons to prevail in this aggression. Is to call for genocide.
Nuclear weapons are the ultimate weapon of genocide. Killing far more people in less time than any other previous invented method. No need for messy cattle cars or the construction of complex networks of death camps and crematoria.
Committing and calling for genocide is the hallmark of fascists.
This is what the Ukrainian people of the Donbas think of people like you and your dirty ilk.
Its not possible to watch RT. In the interest of monopoly propaganda from the West, many alternative sources have been banned, not only from TV but also YouTube and Twitter.
Just google RT and you can watch RT content till your eyes bleed.
RT is streaming live on it's own platform. Right now they're crying about a bridge.
As Ukraine advances into Kherson threaten to close the land bridge to Crimea, and with the sea bridge gone. Crimea is about to become physically cut off from Russia.
I suspect many of the inhabitants of Crimea will be secretly renewing their Ukrainian passports.
RNZ : Guyon Espiner
And this spin from the ODT? As if lotto needs any free feelgood stories?
King Charles III Conflicted Head of The Commonweath
Why hasn’t Jacinda, Anthony and Justine (along with the other PMs of 13 Kingly states) stood up to Lizz Truss and insisted that the Head of the Commonwealth, that includes NZ, Australia, and Canada along with 54 other independent states, should be allowed to represent our collective views at COP27. Apparently, Liz’s decision was made is because she has appointed a Climate Denier Jacob Rees-Mogg as her UK Environmental Minister, and she doesn’t want to be embarrassed by her King’s views on the world stage. On the other hand, Global Warning is a serious international issue, Charles III is our King and head of the Commonwealth and apparently well qualified to represent smaller states that are anxious about the impacts of climate change. Moreover in 1961 our former Queen set a precedent for independent action by ignoring Thatcher’s “advice” not a to attend the Commonwealth conference on Apartheid, danced with the PM of Ghana and thereby “saved” the Commonwealth from breaking up. The question we might ask ourselves, if Liz has so much power over our present head of state why do we bother keeping him on?
No comments have been facilitated for this article in this morning’s NZ Herald.
Wondering what Kiwi reaction is.
https://www.nzherald.co.nz/nz/long-standing-use-of-russian-fishing-crews-on-new-zealand-flagged-boats-raises-questions-as-war-rages-in-ukraine/7ZH2R567XTS7JACL66ALSNHAJ4/
“ the use of Crimean crews amounted to "indirect sponsorship of Russia's war crimes".
“there are doubts over the towns and addresses on their official documentation, which places them as being from the Russian Federation and not other contested regions currently, or historically, fought over.”
Crimea is an annexed Ukrainian state so if they were Crimean born not Russian, no problem.
“Sources claim the crews are "aggressively pro-war and pro-Putin", it's alleged, broadcasting Russian "propaganda" on the fishing boats and allegedly "mandated" to hang Putin's portrait in the galley and wardroom”.
This activity needs banning on a NZ registered boat until Russia stops its aggression in the Ukraine.
Let's see how many get on the plane to go home when their contract ends.
They'd all be liable for conscription so would be quite pleased to be tucked away down south for the duration. And is Uncle Vlad's portrait hanging the right way up for here or up north.
Russians on fishing boats etc
Yes Janet important too to continue keeping Russian cats out of cat shows also , we shouldnt let our high standards slip by golly !!
Dude, your text box.
Sorry weka, I copied the text of my comment before deleting it, and then tried to paste the copied text into a new comment – must have pasted in the wrong place.
you’ve just done it again.
I'm sure Russia would be more than happy to talk peace with the Ukrainian government. However the latter seems more interested in saving face rather than agreeing to peace talks. In any case I'm pretty sure Mr Biden would not allow it.
Should've been banned decades ago on legal grounds – they pay illegally low wages – which is the whole point.
Contemporary NZ politicians are however utterly corrupt. "Slave & trafficked workers? Have as many as you like!" they say. As long as they're off camera, that is.
Crimea is an annexed Ukrainian state so if they were Crimean born not Russian, no problem.
The majority of Crimea's citizenry are ethnic Russians. From 1954 to the end of the soviet era Crimea was administered from Ukraine, but that did not imply that it "belonged" to Ukraine. I think it was a separate oblast within the soviet system and doubt whether Russia acquiesced in a transfer of ownership – though of course I could be wrong. After the soviet collapse Yeltsin may have handed it over, though I doubt whether Putin would have agreed to a handover had he been in power at the time.
In 2014 a referendum indicated that a majority of its citizens did not want to be part of Ukraine. It has been suggested that the referendum was phony, but this has never been proved, and foreign observers present in Crimea at the time seemed to think that the result was kosher. This was the basis for Russia's annexation, though the real reason was that ownership of the territory was important for Russia’s defense.
Another hurdle to overcome for life to emerge has been discovered.
Waterfalls.
Some worlds like Saturn's 6th moon Enceladus, may be covered in deep oceans. But without waterfalls, (and land), the emergence of life may not be possible.
Add this to the growing mountain of evidence already collected, points toward the conclusion that except for this small corner, the universe is as inanimate as it is vast.
So look after it.
2 minutes to votes close
" Auckland Action Against Poverty is one of those groups with on-the-ground experience, and co-chair Agnes Magele said the report did not give the full picture.
" She said the government's decisions and actions were partly to blame for keeping people locked in poverty "
https://www.rnz.co.nz/news/political/476277/child-poverty-report-stokes-demands-for-stronger-government-action
https://twitter.com/NobelPrize/status/1578309539870318603
Previously on TS
https://thestandard.org.nz/daily-review-29-12-2021/#comment-1847006
Today is Poot's 70th. Awarding prizes to a human rights group that he shut down, a Ukrainian rights group documenting his war crimes and a Belarusian rights activist imprisoned by his bestie Lukashenko.
Genius.
In his 70th year, to demonstrate fealty to the Pharaoh two great pyramids were erected in his honour.
https://inshorts.com/en/news/putin-gifted-pyramids-of-melons-watermelons-by-tajikistan-president-on-his-birthday-1665209752186
Oh guys, you shouldn’t have.
I mean really. You shouldn’t have.
I don't see why the protesters should be awarded the peace prize when they have not succeeded in bringing about an actual peace in Ukraine. The award in this case seems to be just a gimmick to further demonize Russia. Protesters against the Vietnam war were not awarded the peace prize; but of course in that conflict it was the USA and its supporters that were being protested against.
Phew, back to ‘normal’![blush blush](https://cdn2.thestandard.org.nz/wp-content/plugins/ark-wysiwyg-comment-editor/ckeditor/plugins/smiley/images/embarrassed_smile.png?x42494)
BREAKING NEWS
A defining moment in the Ukraine war.
The Kerch bridge has been taken down. Putin will be pissed. For those who don't know, the Kerch bridge is a key component of the logistics network for getting supplies to the army from Russia and through Crimea.
So… the Crimean pocket is being closed.
Yet another demonstration of the gifted strategic response of Ukraine to Russian terrorism.
More details on the attack Ukraine Strikes Train on Crimean Bridge! – YouTube
The rail bridge looks unusable due distortion of the metal and likely weakening of reinforcing steel in the rail bridge concrete. Also, I imagine the extreme heat would weld the train wheels to the tracks. So, clearing the train off the bridge is not going to be easy.
I imagine a lot of foreign folk in Kherson, Crimea and Zaporizhzhia are thinking pretty hard about their lines of retreat.
I am expecting the expected offensive towards Melitopol to start straight away now. It would be a great move to have the Russians fighting on three fronts while their logistics are stuffed.
According to the Russians it was a truck bomb, which makes sense.
A video of the blast. Quite clearly a truck exploding.
https://twitter.com/GirkinGirkin/status/1578634672753762306
I fixed the link. If you link to the person's twitter account, the tweet gets lost in the embed as new tweets are posted. Instead, click on the date/time stamp of the tweet you are referring to, then copy and paste the URL.
Thanks for that.
The span has collapsed. Crimean Bridge Collapses! – YouTube
Looking a little worse for wear.
https://twitter.com/JimmySecUK/status/1578639387843526656
From a supply point of view, the key thing will be how badly the rail bridge is damaged. Obviously the train will need to be cleared off. But it might not simply roll off because the heat will have distorted the metal of the rails and the wheels, and may have even welded the rails to some of the wheels if the fire was hot enough. Then, likely rails will need to be replaced.
So, in the best case, I would say the rail bridge will be out of action for at least a week. But if the heat has damaged the integrity of the bridge itself, then it could be out a lot longer.
That bridge also pipes water and electricity to Crimea – albeit not enough. As Kherson falls, those utilities are likely to be in short supply.
The big engineers in the region are Ukraine, not Russia. They built both the Moskva and the Admiral Kuznetsov. A massive floating crane can likely fix the rail part rapidly (about a month) if Russia still have one. I think they're going to have a few too many problems however.
A month should be long enough. If the Ukrainians start the third front towards Melitopol the stress on the remaining Russian logistics could be too much.
The Ukrainians are putting major stress on the Russian logistics in the north at the moment as well. So, I think this is definitely a major turning point in the war.
it's odd it's being reported as a collapse rather than that someone blew it up. Is it too soon to know what happened officially?
If you look at that link you fixed for me, it looks very much like a truck exploding. That is what the Russians are saying. Though, other reports I have seen, have pointed out that freeze-frames show some sort of boat coming into view. I know the US has given the Ukrainians some drone boats. So, it isn't absolutely clear. But it is definitely a large explosion.
Step through this video. You will notice some sort of boat goes under the bridge just at the time of the explosion.
I am thinking one of the drone boats the US have provided.
Likely not the truck.
https://twitter.com/WarintheFuture/status/1578617204316442625
On the futility and cost of Poots' special military operation.
https://twitter.com/ChrisO_wiki/status/1578535591762747392
https://threadreaderapp.com/thread/1578535556061233152.html