Open mike 22/11/2020

Written By: - Date published: 6:00 am, November 22nd, 2020 - 66 comments
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66 comments on “Open mike 22/11/2020 ”

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  1. Jester 1
    22 November 2020 at 9:22 am

    Shamubeel Eaqub wrote an article a few years ago saying it was better to rent in Auckland than buy. Considering he went out and bought about a year later, I wonder if he still stands by that advice?

    In ten years time with Aucklands population set to increase, the median house price will probably be getting close to $1.5m. IMO now is a good time to buy (assuming you can get a deposit which is the hard part as interest rates never lower). I do not see the supply of new housing being enough for the next few years.

    • dv 1.1
      22 November 2020 at 9:31 am

      UNTIL the interest rates drift up to 5%, 8%.

      • Chris T 1.1.1
        22 November 2020 at 9:46 am

        At which time we will see a lot of screwed young people and cheaper houses

        • KJT 1.1.1.1
          22 November 2020 at 9:59 am

          Then watch younger low income people, who have scraped up enough to buy, having to sell.

          • Chris T 1.1.1.1.1
            22 November 2020 at 10:13 am

            They won't have a choice tbh.

            And it won't even be their own fault.

            Let's say a couple put a 200k deposit on a 1,000,000 house.

            At the moment they are paying (If we go for a rough 3% interest)

            They have to pay $1,745 a fortnight

            When it it inevitably moves to 8 or 9%

            $3,089 a fortnight or $6,714 a month.

            Banks say sorry, but we are selling your house.

            • mac1 1.1.1.1.1.1
              22 November 2020 at 10:17 am

              Why do you say that interest rates will move to 8-9% and in what time frame? Why 'inevitably'? What's the cause of this inevitability in your opinion?

              • Chris T …
                22 November 2020 at 10:25 am

                Because they will. Depending on inflation etc. It is just a cycle.

                Weirdly and I am no mortgage advisor, so might be wrong, but no one seems openly to tell young people about risk.

                [Re-sized image to fit into window]

                • Pat …
                  22 November 2020 at 10:41 am

                  I think the young are told, but its one thing to be told and another to understand…and there is the factor of immediacy, the future will take care of itself (or optimism) and the (mistaken) belief that 'the gov' will always step in to assist.

                  And then there is the spruiking

                • Phillip ure …
                  22 November 2020 at 10:54 am

                  Could someone with more knowledge of this subject please explain why that precipitous drop in 2008-2010 happened..?…with the obvious follow-up questions of could it go up again as fast…?…and what would the circumstances be that would cause that to happen..?

                  • Pat …
                    22 November 2020 at 10:58 am

                    GFC… yes…inflation

                  • Chris T …
                    22 November 2020 at 11:06 am

                    It is a bit of an unknown tbh and not all in the NZ govts control.

                    Massive inflation can cause massive rises.

                    Something happens with global corporates and stocks, which is all an unknown.

                    It is one of those things you just have to watch and hope nothing ugly happens, you have no control over.

                    I remember when my solo mum was trying to pay for her house by herself and it was like 19-20% or some other stupid rate.

                  • Craig H …
                    22 November 2020 at 3:09 pm

                    GFC caused banks to tighten the screws on mortgage lending significantly at a time when finance companies and other non-bank mortgage lenders were going under, so a lot of forced sales when there weren't as many qualified buyers.

                • Ad …
                  22 November 2020 at 11:07 am

                  Who here thinks they have $60,000 a year income to retire on?

                • Herodotus …
                  22 November 2020 at 11:30 am

                  Should inflation mean that interest rates increase pay rates would follow to compensate. Though I must note pay rates follow inflation so the worker does lose out, those holding assets benefit AGAIN with assets appreciating faster than pay.

                  thenonly time I can recall this not happening was proceeding the GFC when mortgages were 10% and pay increases were marginal, but we had massive net migration into Auckland then

                  • Pat …
                    22 November 2020 at 11:34 am

                    who controls interest rates (in most circumstances)?….central banks

                  • Chris T …
                    22 November 2020 at 11:39 am

                    Which won't happen with the govt raising the minimum wage to 20 bucks, the sick pay thing and companies trying to deal with covid.

                    I think you can write off pay rises to your average worker for a lot of years

                    • Pat …
                      22 November 2020 at 12:18 pm

                      It depends …if the RBNZ can keep the ponzi scheme afloat long enough then there is a possibility the asset inflation will force wage/consumer inflation, but as you note there are counter forces…but if they are unable to maintain the asset prices (or offshore events) then we could expect deflation….and ultimately there will be deflation at some point as the debt is unsustainable but the question is can it be propped up one more time?….personally I think not for very much longer when you look at the amount of debt being added and interest rates at zero in much of the world.

                    • KJT …
                      22 November 2020 at 10:07 pm

                      Many workers locally already getting pay rises. As employers cannot use the standard response, of bleating for more cheap labour from overseas, at the present time.

                • Drowsy M. Kram …
                  22 November 2020 at 1:08 pm

                  Have mortgage rates in NZ ever been as low as they are now? Going by that nice graph (@10:25 am), not during the last 56 years.

                  Given the low (~1%) and very flat term-deposit interest rates that major banks in NZ are currently offering (basically no difference between 1-year and 5-year terms), maybe interest rates won’t rise anytime soon.

                  Heck, maybe the mortgage interest rate cycle is now longer than the 25 years it might take to pay off a mortgage. For example, the 30-year fixed rate mortgage average in the US has been falling since it last peaked (at ~18%) in the early 1980s (and falling from 7% over the last two decades), Japan's mortgage rates haven't been much above 4% since the mid-90s, and except for a short-lived spike in 2008, even Australia's mortgage rates have been below 7% for ~25 years.

                  It is difficult to make predictions, especially about the future.

              • aj …
                22 November 2020 at 3:38 pm

                A rise in interest rates can now only occur if there is massive wage inflation at the same time. It takes no brains to work out that any significant interest rate increases when the world is flooded to the top of the mast with debt, that increasing interest rates to even 5-6% would result is widespread debt default.

                Debt that cannot be paid, won't be paid.

                • Pat …
                  22 November 2020 at 3:50 pm

                  which may be defaulted without an increase in interest rates…its taking some pretty serious measures currently to avoid it…..and many of them have just expired or are destined to shortly.

            • WeTheBleeple 1.1.1.1.1.2
              22 November 2020 at 10:21 am

              Modern day land grab aka how to put poor people back in their place.

              I don't get how people can take large sums of low interest money without long term fixed rates, especially when prices are so exorbitant. A scenario exactly as you wrote is staring them in the face.

            • Drowsy M. Kram 1.1.1.1.1.3
              22 November 2020 at 10:30 am

              "200k deposit on a 1,000,000 house" = 800k mortgage.

              Serviced at 3% interest = 800k x 0.03 = $24k mortgage payments per year, or

              ~$923 per fortnight, not "$1,745 a fortnight"?

              • Chris T …
                22 November 2020 at 10:32 am

                I'd bother to point out the obvious, but feel you need to work it out yourself.

                https://www.westpac.co.nz/home-loans/calculators/mortgage-repayments/

                Hint.

                You actually have to pay it back.

              • alwyn …
                22 November 2020 at 10:39 am

                You are correct if you have an interest only mortgage which means you are never actually going to pay for the place and will never own it.

                Banks don't really like providing that sort of mortgage for people who claim to be buying a permanent home.

                The numbers given are correct for a 25 year mortgage at 3% and actually plan to buy the place.

                Edit. I see that Chris beat me to it.

              • Chris T …
                22 November 2020 at 10:48 am

                Sorry.

                Re-reading that post I probably came across as a bit blunt and a prick tbf.

                Basically by your calculations yes you are correct and are paying the interest.

                But you are not paying off the 800k the bank owns on your house.

                So the bank is basically the majority owner of your own house.

                So unless you are paying off the 800k you are kind of just paying rent to the bank to live there.

                And if interest rates suddenly rise, which is inevitable, going by historical trends, the bank still owns 800,000k of your house and if you cant afford the interest rises, they will say. "Tough luck mate. We still love you as a customer, but as we own 80% of your house we have decided to auction it. Please move out by next month"

                If it helps we can give you a credit card at 19% interest.

                • Phillip ure …
                  22 November 2020 at 11:07 am

                  Would this be an opportune moment to note/remind that the word mortgage comes from the french language..it's literal translation is 'death-grip'…

                  • Gyrogearloose …
                    22 November 2020 at 12:24 pm

                    Good laugh for the day !

                    Looked it up and got slightly different translation

                    "You’ve undoubtedly heard the word “mortgage” thrown around a million times. But you may not know that in the literal sense, it is defined as a “death pledge” in the French language.

                    Ironically, the French don’t actually use the word themselves (they use hypothèque, while Spanish speakers use the similar word hipoteca).

                    Broken down, the mort part (pronounced more) means death and the gage part (pronounced gahj) means pledge."

            • Incognito 1.1.1.1.1.4
              22 November 2020 at 12:02 pm

              House buyers and banks always bet on the House and the House usually ‘wins’.

              Let’s take your example and assume they fix for 3 years for a Loan Term of 25 years. After these 3 years, they can no longer service the mortgage for whatever reason and are forced to sell. Over that period, they’ll have paid $69,093 in Interest to the bank, which is their ‘loss’. They’ll also have paid $67,480 in Principal, which they’ll ‘get back’ upon sale. So, their house would need to have increased in value by $69,093 to ‘break even’, which is an annual increase (appreciation) of 2.25% over the 3 years. This does not take into account one-off costs incurred such as moving costs, real estate agent fees, lawyers, loan fees, etc. Also, in real dollar terms they’ll go backwards although inflation is quite low. If they sell the house for more than $1,069,093, they’ll come out in ‘positive territory’, more or less. Seems doable.

              During that time, they won’t have to pay rent, only insurance and general upkeep of the house, which they can call ‘theirs’ for the time their name is on the Title.

              The interest cost averaged over 3 years equates to $441 per week or $883 per fortnight (with some rounding).

              • Chris T …
                22 November 2020 at 12:11 pm

                And which means they will end up with luck, their 200,000k and by then not enough for current deposit for another house.

                • Incognito …
                  22 November 2020 at 12:26 pm

                  They’ll end up with $267,480 if they sell at what they paid for it. But that’s just from the sale, as I explained.

                  Over the year to October, the median Auckland house increased in value by $140,000. Awkward.

                  https://www.stuff.co.nz/business/opinion-analysis/123456016/ardern-should-cash-in-some-political-capital-to-intervene-in-housing-market

                  It seems my estimated increase in the value of their house at $69,093 over 3 years seems a tad on the ‘conservative’ side, shall we say 😉

                  • Chris T …
                    22 November 2020 at 12:32 pm

                    Which means they have to pay that much more if they want another one in deposit.

                  • Jester …
                    22 November 2020 at 4:55 pm

                    And I wonder how much rents would have increased over the years until they sell?

                    Still better to buy IMO.

                  • Jester …
                    22 November 2020 at 8:02 pm

                    "Why do you think it is better to buy than to rent?"

                    I've always thought it better to be paying towards eventually owning than paying rent and effectively paying some one else's mortgage. In example above: $1m house; Couple have $200k deposit and $800k mortgage. Should be able to get 2.65% with bank (or less at moment and rates likely to fall again next year as Reserve bank talking possible negative rates). Paying P'pal and interest weekly is approx $840 a week, whereas you could easily be paying $700 -$800 in rent per week. I would rather pay the bit extra and get on the ownership ladder (assuming couple can afford the higher mortgage v rent payments).

                    • Incognito …
                      22 November 2020 at 8:15 pm

                      Ta

                      Is “the ownership ladder” a euphemism for tax-free CG, by any chance?

                      I think many people would rather live in something they can call ‘their own’ even though the bank tends to co-own it. In Europe, tenancies can be very long-term and tenants treat ‘their’ rental as their own; very different attitudes over there compared to over here.

              • Chris T …
                22 November 2020 at 12:14 pm

                You also have to add-in the amount they still have to be paying in interest, they can't before the house is sold.

              • Gyrogearloose …
                22 November 2020 at 1:38 pm

                Unless you lumped rates under general upkeep there is thag vist too.

                I live in rural SI. No sewage or rubish collection. Rv $750k rates $3000

                What are rates for a $1m house in Auckland?

                • Andre …
                  22 November 2020 at 2:00 pm

                  Looking at the formulae on my rates bill, on a $1million house the annual rates would be around $2500. Of that, $141 pays for recycling and other general waste services.

                  Household rubbish is charged separately at $4something per 120litre wheelie bin. Water and wastewater are charged separately at $231/year for the connection plus $3.75 per cubic metre for the water (nominally it's $1.59/cubic metre for the water and $2.16 to take it away after it's been filled with piss and shit).

                • Drowsy M. Kram …
                  22 November 2020 at 2:15 pm

                  Don't know about Auckland, but in Palmerston North my annual rates bill (based on a Land Value of $355,000, and not including the $416.18 Regional Council annual rates bill) is $3,308.19. PNCC does take sewage and rubbish away though.

                • joe90 …
                  22 November 2020 at 2:18 pm

                  GV of $695k in a provincial NI city paying $4500 in reg/dist rates.

                  No water/sewage/footpaths and user pays rubbish collection.

                • Incognito …
                  22 November 2020 at 3:32 pm

                  Ah, yes, rates. How could I forget the rates, the final nail in the coffin of each existing and aspiring home owner?? What was I thinking?

      • Jester 1.1.2
        22 November 2020 at 4:42 pm

        Do you really believe the interest rates will get to 8% within the next 10 years?

  2. joe90 2
    22 November 2020 at 12:06 pm

    ACDC's never going to sound the same again.

    https://www.instagram.com/p/CHteLWYBzrg/

  4. R.P Mcmurphy 4
    22 November 2020 at 1:59 pm

    I dont give a tinkers toss about cars, houses, accumulating consumer goods or fulfilling my destiny by going somewhere exotic and coming back. What I care about is the freedom to smoke a joint without the door being bashed in or the neighbours narking. I beseech everybody to use the break to write to their mp's and asking them to do something about the inequitable laws at presented enacted to criminalise and imprison otherwise innocent people. I know there are some sanctimonious, self righteous reactionary members of the NZLP caucus but they must be neutralised and not allowed to impose their views on the rest.

    • mac1 4.1
      22 November 2020 at 6:49 pm

      'allowed to impose their views on the rest."

      R.P. Mc, the majority spoke on the marijuana referendum. It voted against. BTW, I voted for it- the arguments persuaded me, though I am not a user.

      The majority imposed its view. That is what happens with referenda.

      Would it have been better tactically to have sought decriminalisation?

      Did all that supported legalisation and were entitled to vote in the referendum do so, especially amongst younger voters? There's a lesson in citizenship there.

      • KJT 4.1.1
        22 November 2020 at 10:14 pm

        referenda like this would work better if a range of options were presented and could be rated, like STV.

        I suspect many who voted against, were against total legalisation. Not necessarily decriminalisation of usage.

      • R.P Mcmurphy 4.1.2
        22 November 2020 at 10:50 pm

        1,000,000 people saying 1+1= 3 does not make it so. there should never have been a referendumb in the first place.

  5. Ad 5
    22 November 2020 at 7:07 pm

    Jane Barnes is a preschool teacher who was bullied out of her job.

    She had been a teacher for 23 years, until a new manager came along and basically ruined her life.

    https://www.stuff.co.nz/national/education/123466658/victory-for-bullied-kindergarten-teacher-after-more-than-five-years

    She won $100,000 plus some costs. That's just for the entitled sick leave.

    There's no way it will rebuild her life as it ought to have been.

    The Canterbury Westland Kindergarten Kindergarten Association, the Manager who bullied her, and the HR Manager Karyn Willets (quoted in article) should simply be required to pick up rubbish for the rest of their professional lives.

  6. Pat 6
    22 November 2020 at 8:00 pm

    "Premier Gladys Berejiklian wants to use a third of the state's hotel quarantine slots to bring in international students and skilled migrants, starting in as soon as six weeks, in a move that would cut the number of overseas Australians able to come home through NSW."

    https://www.smh.com.au/national/nsw/berejiklian-and-morrison-split-over-return-of-international-students-skilled-migrants-20201120-p56gj2.html

    Pressure mounting

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    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 7:40 am on Wednesday, July 24 are:Deep Dive: Chipping away at the housing crisis, including my comments RNZ/Newsroom’s The DetailNews: Government softens on asset sales, ...
    The KakaBy Bernard Hickey
    3 days ago
  • LXR Takaanini

    As I reported about the city centre, Auckland’s rail network is also going through a difficult and disruptive period which is rapidly approaching a culmination, this will result in a significant upgrade to the whole network. Hallelujah. Also like the city centre this is an upgrade predicated on the City ...
    Greater AucklandBy Patrick Reynolds
    3 days ago
  • Four kilograms of pain

    Today, a 4 kilogram report will be delivered to Parliament. We know this is what the report of the Royal Commission of Inquiry into Abuse in State and Faith-based Care weighs, because our Prime Minister told us so.Some reporter had blindsided him by asking a question about something done by ...
    More Than A FeildingBy David Slack
    3 days ago
  • The Kākā’s Journal of Record for Wednesday, July 24

    TL;DR: As of 7:00 am on Wednesday, July 24, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:Beehive: Transport Minister Simeon Brown announced plans to use PPPs to fund, build and run a four-lane expressway between Auckland ...
    The KakaBy Bernard Hickey
    3 days ago
  • Luxon gets caught out

    NewstalkZB host Mike Hosking, who can usually be relied on to give Prime Minister Christopher Luxon an easy run, did not do so yesterday when he interviewed him about the HealthNZ deficit. Luxon is trying to use a deficit reported last year by HealthNZ as yet another example of the ...
    PolitikBy Richard Harman
    3 days ago
  • A worrying sign

    Back in January a StatsNZ employee gave a speech at Rātana on behalf of tangata whenua in which he insulted and criticised the government. The speech clearly violated the principle of a neutral public service, and StatsNZ started an investigation. Part of that was getting an external consultant to examine ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Are we fine with 47.9% home-ownership by 2048?

    Renting for life: Shared ownership initiatives are unlikely to slow the slide in home ownership by much. Photo: Lynn Grieveson / The KākāTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy today are:A Deloitte report for Westpac has projected Aotearoa’s home-ownership rate will ...
    The KakaBy Bernard Hickey
    4 days ago
  • Let's Win This

    You're broken down and tiredOf living life on a merry go roundAnd you can't find the fighterBut I see it in you so we gonna walk it outAnd move mountainsWe gonna walk it outAnd move mountainsAnd I'll rise upI'll rise like the dayI'll rise upI'll rise unafraidI'll rise upAnd I'll ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • Waimahara: The Singing Spirit of Water

    There’s been a change in Myers Park. Down the steps from St. Kevin’s Arcade, past the grassy slopes, the children’s playground, the benches and that goat statue, there has been a transformation. The underpass for Mayoral Drive has gone from a barren, grey, concrete tunnel, to a place that thrums ...
    Greater AucklandBy Connor Sharp
    4 days ago
  • A major milestone: Global climate pollution may have just peaked

    This is a re-post from Yale Climate Connections Global society may have finally slammed on the brakes for climate-warming pollution released by human fossil fuel combustion. According to the Carbon Monitor Project, the total global climate pollution released between February and May 2024 declined slightly from the amount released during the same ...
    Skeptical Science
    4 days ago
  • The Kākā’s Pick 'n' Mix for Tuesday, July 23

    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 7:00 am on Tuesday, July 23 are:Deep Dive: Penlink: where tolling rhetoric meets reality BusinessDesk-$$$’s Oliver LewisScoop: Te Pūkenga plans for regional polytechs leak out ...
    The KakaBy Bernard Hickey
    4 days ago
  • The Kākā’s Journal of Record for Tuesday, July 23

    TL;DR: As of 6:00 am on Tuesday, July 23, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:Health: Shane Reti announced the Board of Te Whatu Ora- Health New Zealand was being replaced with Commissioner Lester Levy ...
    The KakaBy Bernard Hickey
    4 days ago
  • HealthNZ and Luxon at cross purposes over budget blowout

    Health NZ warned the Government at the end of March that it was running over Budget. But the reasons it gave were very different to those offered by the Prime Minister yesterday. Prime Minister Christopher Luxon blamed the “botched merger” of the 20 District Health Boards (DHBs) to create Health ...
    PolitikBy Richard Harman
    4 days ago
  • 2500-3000 more healthcare staff expected to be fired, as Shane Reti blames Labour for a budget defic...

    Long ReadKey Summary: Although National increased the health budget by $1.4 billion in May, they used an old funding model to project health system costs, and never bothered to update their pre-election numbers. They were told during the Health Select Committees earlier in the year their budget amount was deficient, ...
    Mountain TuiBy Mountain Tui
    4 days ago
  • Might Kamala Harris be about to get a 'stardust' moment like Jacinda Ardern?

    As a momentous, historic weekend in US politics unfolded, analysts and commentators grasped for precedents and comparisons to help explain the significance and power of the choice Joe Biden had made. The 46th president had swept the Democratic party’s primaries but just over 100 days from the election had chosen ...
    PunditBy Tim Watkin
    5 days ago
  • Solutions Interview: Steven Hail on MMT & ecological economics

    TL;DR: I’m casting around for new ideas and ways of thinking about Aotearoa’s political economy to find a few solutions to our cascading and self-reinforcing housing, poverty and climate crises.Associate Professor runs an online masters degree in the economics of sustainability at Torrens University in Australia and is organising ...
    The KakaBy Steven Hail
    5 days ago
  • Reported back

    The Finance and Expenditure Committee has reported back on National's Local Government (Water Services Preliminary Arrangements) Bill. The bill sets up water for privatisation, and was introduced under urgency, then rammed through select committee with no time even for local councils to make a proper submission. Naturally, national's select committee ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Vandrad the Viking, Christopher Coombes, and Literary Archaeology

    Some years ago, I bought a book at Dunedin’s Regent Booksale for $1.50. As one does. Vandrad the Viking (1898), by J. Storer Clouston, is an obscure book these days – I cannot find a proper online review – but soon it was sitting on my shelf, gathering dust alongside ...
    A Phuulish FellowBy strda221
    5 days ago
  • Gordon Campbell On The Biden Withdrawal

    History is not on the side of the centre-left, when Democratic presidents fall behind in the polls and choose not to run for re-election. On both previous occasions in the past 75 years (Harry Truman in 1952, Lyndon Johnson in 1968) the Democrats proceeded to then lose the White House ...
    WerewolfBy lyndon
    5 days ago
  • Joe Biden's withdrawal puts the spotlight back on Kamala and the USA's complicated relatio...

    This is a free articleCoverageThis morning, US President Joe Biden announced his withdrawal from the Presidential race. And that is genuinely newsworthy. Thanks for your service, President Biden, and all the best to you and yours.However, the media in New Zealand, particularly the 1News nightly bulletin, has been breathlessly covering ...
    Mountain TuiBy Mountain Tui
    5 days ago
  • Why we have to challenge our national fiscal assumptions

    A homeless person’s camp beside a blocked-off slipped damage walkway in Freeman’s Bay: we are chasing our tail on our worsening and inter-related housing, poverty and climate crises. Photo: Photo: Lynn Grieveson / The KākāTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy ...
    The KakaBy Bernard Hickey
    5 days ago
  • Existential Crisis and Damaged Brains

    What has happened to it all?Crazy, some'd sayWhere is the life that I recognise?(Gone away)But I won't cry for yesterdayThere's an ordinary worldSomehow I have to findAnd as I try to make my wayTo the ordinary worldYesterday morning began as many others - what to write about today? I began ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • A speed limit is not a target, and yet…

    This is a guest post from longtime supporter Mr Plod, whose previous contributions include a proposal that Hamilton become New Zealand’s capital city, and that we should switch which side of the road we drive on. A recent Newsroom article, “Back to school for the Govt’s new speed limit policy“, ...
    Greater AucklandBy Guest Post
    5 days ago
  • The Kākā’s Pick 'n' Mix for Monday, July 22

    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 7:00 am on Monday, July 22 are:Today’s Must Read: Father and son live in a tent, and have done for four years, in a million ...
    The KakaBy Bernard Hickey
    5 days ago
  • The Kākā’s Journal of Record for Monday, July 22

    TL;DR: As of 7:00 am on Monday, July 22, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:US President Joe Biden announced via X this morning he would not stand for a second term.Multinational professional services firm ...
    The KakaBy Bernard Hickey
    5 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #29

    A listing of 32 news and opinion articles we found interesting and shared on social media during the past week: Sun, July 14, 2024 thru Sat, July 20, 2024. Story of the week As reflected by preponderance of coverage, our Story of the Week is Project 2025. Until now traveling ...
    Skeptical Science
    6 days ago
  • I'd like to share what I did this weekend

    This weekend, a friend pointed out someone who said they’d like to read my posts, but didn’t want to pay. And my first reaction was sympathy.I’ve already told folks that if they can’t comfortably subscribe, and would like to read, I’d be happy to offer free subscriptions. I don’t want ...
    Mountain TuiBy Mountain Tui
    6 days ago
  • For the children – Why mere sentiment can be a misleading force in our lives, and lead to unex...

    National: The Party of ‘Law and Order’ IntroductionThis weekend, the Government formally kicked off one of their flagship policy programs: a military style boot camp that New Zealand has experimented with over the past 50 years. Cartoon credit: Guy BodyIt’s very popular with the National Party’s Law and Order image, ...
    Mountain TuiBy Mountain Tui
    6 days ago
  • A friend in uncertain times

    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; ...
    More Than A FeildingBy David Slack
    6 days ago
  • The Chaotic World of Male Diet Influencers

    Hi,We’ll get to the horrific world of male diet influencers (AKA Beefy Boys) shortly, but first you will be glad to know that since I sent out the Webworm explaining why the assassination attempt on Donald Trump was not a false flag operation, I’ve heard from a load of people ...
    David FarrierBy David Farrier
    6 days ago
  • It's Starting To Look A Lot Like… Y2K

    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 ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Bernard’s Saturday Soliloquy for the week to July 20

    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 ...
    The KakaBy Bernard Hickey
    1 week ago
  • Pharmac Director, Climate Change Commissioner, Health NZ Directors – The latest to quit this m...

    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 ...
    Mountain TuiBy Mountain Tui
    1 week ago
  • Flooding Housing Policy

    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 ...
    PunditBy Brian Easton
    1 week ago
  • A Voyage Among the Vandals: Accepted (Again!)

    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 ...
    A Phuulish FellowBy strda221
    1 week ago
  • The Kākā's Chorus for Friday, July 19

    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 ...
    The KakaBy Bernard Hickey
    1 week ago
  • The Kākā’s Pick 'n' Mix for Friday, July 19

    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 ...
    The KakaBy Bernard Hickey
    1 week ago
  • Weekly Roundup 19-July-2024

    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. ...
    Greater AucklandBy Greater Auckland
    1 week ago
  • Weekly Climate Wrap: A market-led plan for failure

    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 ...
    The KakaBy Bernard Hickey
    1 week ago
  • Tobacco First

    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 ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Trump’s Adopted Son.

    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 ...
    Bowalley Road
    1 week ago
  • The Kākā’s Journal of Record for Friday, July 19

    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 PSA announced the Employment Relations Authority (ERA) had ruled in the PSA’s favour in its case against the Ministry ...
    The KakaBy Bernard Hickey
    1 week ago
  • The Hoon around the week to July 19

    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 ...
    The KakaBy Bernard Hickey
    1 week ago
  • Skeptical Science New Research for Week #29 2024

    Open access notables Improving 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 ...
    Skeptical Science
    1 week ago

  • Joint statement from the Prime Ministers of Canada, Australia and New Zealand

    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 ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • AG reminds institutions of legal obligations

    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 ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • More young people learning about digital safety

    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 ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Speech to the Conference for General Practice 2024

    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 ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Employers and payroll providers ready for tax changes

    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 ...
    BeehiveBy beehive.govt.nz
    24 hours ago
  • Experimental vineyard futureproofs wine industry

    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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Funding confirmed for regions affected by North Island Weather Events

    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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Indonesian Foreign Minister to visit

    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. ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Strengthening partnership with Ngāti Maniapoto

    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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Transport Minister thanks outgoing CAA Chair

    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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Test for Customary Marine Title being restored

    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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Opposition united in bad faith over ECE sector review

    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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Kiwis having their say on first regulatory review

    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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government upgrading Lower North Island commuter rail

    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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government moves to ensure flood protection for Wairoa

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • PM speech to Parliament – Royal Commission of Inquiry’s Report into Abuse in Care

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government acknowledges torture at Lake Alice

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government acknowledges courageous abuse survivors

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Half a million people use tax calculator

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Paid Parental Leave improvements pass first reading

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Rebuilding the economy through better regulation

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • ‘Open banking’ and ‘open electricity’ on the way

    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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Charity lotteries to be permitted to operate online

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Accelerating Northland Expressway

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Sir Don to travel to Viet Nam as special envoy

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Grant Illingworth KC appointed as transitional Commissioner to Royal Commission

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ to advance relationships with ASEAN partners

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Backing mental health services on the West Coast

    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. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ support for sustainable Pacific fisheries

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Students’ needs at centre of new charter school adjustments

    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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Commissioner replaces Health NZ Board

    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 ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister to speak at Australian Space Forum

    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 ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Climate Change Minister to attend climate action meeting in China

    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. ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Oceans and Fisheries Minister to Solomons

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