The government had the opportunity to get rid of neoliberalism and return to its roots as a working class party. Labour 2022 is not socialist. It is simply a manager for the corporate establishment.
It chose the liberal middle class instead and consigned itself to the dustbin of history.
Can’t put it much clearer than that. And evidence is there via the neo liberal Parliamentary consensus–whereby the State Sector Act, Reserve Bank Act, monetarist transactional methods etc. roll over with each election. Labour has enacted a number of useful reforms that the Natzos would not have…but…when the pirate banks and supermarket duopoly laugh in their and citizens faces and keep raking it in, and a state house mega build remains wanting…
As for the current RB rate hike, unemployed are often viewed by tories as “dirty filthy bennies”, a sub class of despicable losers…yet the RB Governor now says we need to add to their ranks to fight inflation, what the…while at the same time employers say they are labour starved and want more migrant labour. Now sure, jobs and people cannot always be linked, but the employers position says little more than–“cheap labour now please”–just as a number of workers are rediscovering their fight and winning decent wage increases.
The faux separation of, and ‘independent’ status of the Reserve Bank, under the RB Act, is such a travesty and reveals like little else why the NZ neo liberal state has to be booted.
Descending into negative equity is going to be a humbling experience for some holders of thumping great mortgages, and guess what–voting for Baldrick is not going to make it better–the contrary in fact. Retired, middle class, working class and alienated need to find some points of unity and develop public action to combat the coming shit show.
I see that the National Party and Groundswell are crowing about the number of signatures included in their petition which Groundswell describes as a "farming tax" but Stuff.co.nz describes as a "food tax" (Interesting contrast!).
By my rough calculations the petition at just over 102,000 was signed by something like 3% of the electorate – not a particularly impressive result and does not confirm Groundwell's claims that the overwhelming majority of New Zealanders support them.
By the way Groundswell keep sending me unsolicited feeds on Facebook and then getting angry when I respond to them asking questions which they don't want to answer. The solution is simple – if they don't want any criticism then stop sending them to me. The very first question I asked is "why are you calling it a farming tax when it is not a farming tax per se – it is an agricultural carbon emissions tax – which is not the same thing as in if you farm without emitting then you don't pay. I then told them that they were really just a front for the National Party at which point I received some hysterical troll responses.
They get angry unless you tell them what they want to hear.
net zero carbon. You sequester more GHGs than you produce. This means transitioning to regenerative models that build soil, biodiversity and grow forests, as well as reducing the GHG emitting practices and stopping relying on pay to pollute carbon credit schemes.
This is physically possible. The main blocks are economic, political and philosophical. I favour subsidising farms to transition, but farmers have to be on board. We also can't do industrial farming at the scale we currently do, so we need to transition our economy at the same time.
I'm generally in agreement about the large scale dairy farms we have here in Canterbury. However I know many local farmers with small holdings who claim they will go out of business as a result of these new laws
that's tough, and again, I would support the government assisting family farms including small ones, to transition. Continuing to farm without taking climate and ecology into account is not a solution to their problem. Groundswell can't help them. I hope someone sorts that out though, because we don't need small family farms being bought up by corporations either.
I know a guy spent the last 30 years on the family farm on low wages, 10 years of it nursing the parents as well as running the farm , the siblings want their cut now , the farms not big enough to pay the mortgage on the 3 to 4 mill he'd have to borrow to pay them out.
Occasionally parents can structure it to hand it down , but it will usually involve getting bigger, and most likely at some point it will be to dare to hand down,
The family farm is terminal it just might be a long slow death for some.
the problem there is the decisions of the parents. Not being overly critical, lots of people are like this and don't sort this stuff out until it's too late. But there are other options to just selling up and splitting the money.
And if the parents want all the kids to have an equal share and thus are ok with the farm being sold, then they’re ok with it no longer being a family farm. That’s on them.
bearing in mind that my parents' generation were the ones where the farm got left to the oldest boy and the girls were supposed to marry farmers if they wanted a farming life.
I’ve also seen the farmers who inherited a farm but then when they want to retire they want bought out. So yeah, the land prices are a huge problem, but there are other factors here too.
I know a farming family who put the farm into a trust and now the kids and their mum run it and when she dies the kids will run and I guess their kids when they have them.
Not every human activity has or is for a profit motive. Profit per se is not the issue anyway, it is about businesses paying their fair share and including this into their business models.
The banks tell us we must stop buying silly smashed avocadoes – officially! They have come to save us all from inflation by taking every cent we have left. They have come to save us from leaky homes by fire-saling the houses. They have come to stop the silly notion of anyone but the chosen rich accumulating capital by taking it all back.
The RBNZ is also telling you to hold on to your job and enjoy your pay-rise while you can, because it is projecting unemployment starting to rise in 2023, which just so happens to be election year.
Yes, but to those of us who are not schooled in even basic economics such as I it is not clear what that really means. That article doesn’t mention the RBNZ projections of the unemployment rate over the next 3 years and they are dire. It does, however, mention recession three times! The Proletariat will shrink, the Precariat will grow and NACT + NZF will ride in as our economic saviours and apply the razor gangs to government spending, including social welfare. As they always do because they are a one-trick pony with the memory of a goldfish.
We interpret the term 'maximum sustainable employment' (MSE) or full employment to mean the level of employment at which the job market is tight, but not so tight that inflation is rising out of control.
More formally, we define MSE as the highest use of labour resources that can be sustained over time without creating a sustained acceleration in inflation.
What is interesting about the RBNZs position regarding MSE, is that we had increasing inflation before wage growth rates began rising. It's almost as if workers don't have anything to do with setting prices, the actual origin of inflation.
My limited understanding of it is that headline inflation was high to start with, because of Covid and other global issues, and this is starting to feed into core inflation such as the MSE and wage inflation. I guess our economy, like so many others, was and is not resilient enough to weather so many large shocks in rapid succession.
Whatever the source of inflation, it is those least responsible for rising prices who are already bearing the brunt of its effects. It's apparently unreasonable to expect lower margins of those businesses that have enjoyed rising profits despite COVID and other global issues.
It's apparently unreasonable to expect lower margins … [my italics]
What do you mean? How is this apparent [to you]? How do you envision RBNZ and/or Government to control or influence those margins?
Yes, of course, the people at the bottom always suffer most and will always suffer more when things get worse. Rightly or wrongly, this Government does acknowledge this with the CoL adjustment, for example. However, RBNZ sees it as a contributing factor to stubbornly high household spending:
Household spending has stayed elevated, despite high inflation, rising interest rates, falling house prices and uncertainty about the global outlook. Recent spending has been supported by high employment, increasing wages, cost of living payments, and savings built up by households during COVID-19 lockdowns. [my italics]
It is apparent because the call from the RBNZ is for reduced consumer spending, not restricted profit margins. Monetary policy has significant lag and it is not always as effective as hoped.
Seeing that we must consume to live and that inflation in the cost of living (a ghoulish term when examined) has been rising faster than wages, a interventionist government could clamp down on these costs through price controls, rent controls, excess profit tax and other fiscal policies.
The Cost of Living Payment was unwise IMO and not directed properly. A reduction in tax liability for those at bottom would have been a much better move.
Petrol is still 25 cts. off per litre, PT fares are still discounted. The fuel discount also benefits the transporting industry, which unsurprisingly have asked for it to remain.
There are plenty more examples of how Government shoulders some of the burden of rising costs (inflation) for New Zealanders.
Any changes to the tax system can easily backfire and stoke the inflationary fire even further. This is the double-edged sword of given the people more money in the hand which they will spend rather than save and/or pay off debt. Consumer spending needs to come down, not go up.
At least that’s my limited understanding of the tricky situation we’re in.
It is apparent because the call from the RBNZ is for reduced consumer spending, not restricted profit margins
Its called demand destruction,it removes profits by enforcing providers to reduce margins to retain sales.it works efficiently in highly informed markets such as the US,where the prices fall to meet demand.
The RBNZs tool kit is limited and their remit is also, I am not expecting them to achieve something that is not within their capabilities. Monetary policy such that it is.
The government, however, has a commanding parliamentary majority and control of fiscal policy; which can form much more directed and precise set of tools. While they have made plenty of prudent decisions I would also join those calling on the government for a reinstatement of the rent freeze. It seems to me as an abdication of sorts to the RBNZ; rather than institute the needed redistributive laws.
People are relying on the charity, such as food banks, for the bare necessities of life in increasing numbers, but they must some how spend less? If those on the lowest incomes had more spending power they may be able to improve their living conditions, for example, no longer skipping meals, or moving out of the unhealthy rental into something better for them. Targeted tax policy could ensure that, RBNZ policies cannot. Some demand is simply unavoidable. There is also plenty of spending being done by those who do not require philanthropy, more often doling it out. It is the governments role to attempt to solve these inequities, not the RBNZ.
The only one I have seen doing anything like this is the Reserve Bank of New Zealand, which is an arm of Government and certainly isn't involved in lending you money to buy your home. There is only one RBNZ so you shouldn't be using a plural like "they".
I can only answer some. That may lose rentals – yes! That may lose homes – yes! I base my answers on historical precedent. This is a modern day land grab, as predicted, so blatantly obviously the same old same old.
Measures to counter this would have been to stop corporates jacking the price of everything and RBNZ not leading the charge to fuck all the little guys.
"Measures to counter this would have been to stop corporates jacking the price of everything and RBNZ not leading the charge to fuck all the little guys."
Yes. Making the impacts on little guys a political priority would be a start.
First home owners, not speculators, whose house should not be some widget in the enormous games of finance these fools play. I'm pissed off. Why were they (Government, RBNZ) all allowing so much practically free money to be lent out. And everyone BUY BUY BUY! We saw it coming, if we were meant to be paying attention and didn't… we were asleep. Everyone gets overextended and… hey presto, interest goes up, land grab.
They had the gall to tell us on the news last night those with savings are better off. Like it all balances out, this periodic stealing of people's life savings, via draining them trying to pay interest, then mortgagee sales, to further the rich.
I have an arrangement with my Bank that I pay the minimum fortnightly payment. That has not changed in the 4 years I have had the current mortgage. When interests rates were very low during Covid I was paying more principal and less interest. Now that rates are going up, I pay less principal and more interest. My fortnightly payment does not change.
The only thing that changes is the term of the loan. The date of final payment stretches out further and further. This does not bother me in the slightest – I will be long dead by then and the loan will be paid when either I, or my estate sells the property.
I bought my house over 40 years ago. I was paying 6% on the first mortgage and 9% on the second mortgage. I was single then (in the eyes of the State anyway) so I got flatmates in to help with the outgoings. In the bad days of the mid 1980's I had paid off the second mortgage, but was paying something like 17% on the first mortgage. I was lucky because my first mortgage was with Housing NZ because I bought in an area where the Government of the time was attempting to encourage home ownership. Other people were paying over 20% interest.
You do not sound that 'lucky' to me. You bought the property over 40 years ago and still have a mortgage on it? Sounds to me like your bank has done you no favours and has made a lot of money at your expense. You should probably get a good mortgage broker and some sound financial advice.
I have this mortgage now because when I paid off the original amount in 1992, I did not actually discharge the mortgage – just left it sitting there for nearly 3 decades. I borrowed against it again 4 years ago when I retired in order to fund an extensive upgrade of part of the dwelling (which at 90 odd years old was badly needed) and I rent out that part while living in the other part myself.
That sounds very smart but offset mortgages are at floating interest rate or higher and your comment makes no sense; your interest payments will go up too.
Only on the portion not offset – if it's fully offset (which is how I read the comment), no interest is charged. On the other hand, it's not much of a mortgage if it is fully offset – a mortgage in name only perhaps?
Loving the irony of Black Friday sale ads merrily sprinkled between the RBNZ pleading for people not to spend. This is the problem with capitalism, everyone constantly rowing against each other, sending out competing messages.
RBNZ says don't spend but every industry, everywhere, especially retail banking, says umm, no.
Covid relief was supposed to be security in uncertain times. What did middle New Zealand do? Went out and bought investment properties, fucking muppets.
Yes indeed, and various jackals are now gleefully buying property at lower prices. We sold six months back to move, in no rush, and the agent was really offended we held out for a less speculative buyer.
Unemployment will save us says the RB–yet–employers demand urgent imports of migrant labour. Which is really a call for low wages.
It's sad to see crime appearing to be on the increase – violent crime especially.
I did a training session at work recently about safety awareness. One of the questions the speaker asked was would you feel safer working in a bank or a dairy (in relation to the threat of robbery and/or the potential for violence)?
That is because there has been a lot of target hardening in other places. Service stations used to be easy targets, – not any more. Dairies – with their windows covered in advertising and run by family members, are the softest target around at the moment.
I have noticed some diaries starting to increase their security but I think there needs to be some consistency. I can't remember which of the big players owns 4 Square but they should be rolling out something to all their stores (though from what I know they are franchises)
They are part of the Foodstuffs Cooperative along with Pak 'n' Save and New World – technically not a franchise, but certainly looks and acts like one most of the time.
I have no idea what you are doing, but if it's a moderation issue, then moderate. If it's not, then hassling someone new like this is both rude and not great for the site. It also reflects badly on moderation.
No no, Incognito has obviously looked at my email address, matched with a previous account then is using it to needle me. I had no intention of trolling or the like – just wanted to get into some conversation again but, well, I think s/he has made themselves clear.
if it’s a moderation issue, then it needs to be dealt with as moderation not trolling someone.
I’ve had a look at your email and IP address. Email address is fine. IP address is shared with someone else who is currently active on TS. If that’s you using two names, then you cannot do that. Some mods will allow a name change for a good reason, others taking a harder line, but either way you cannot run two names here at the same time.
If there is a different explanation for the same IP address, then please explain. Otherwise, please drop pick one name and stick to it.
The IP address matches someone else's? That's weird.
Without betraying confidence/someone elses details is the person I share an email address with a long time user here? Because it isn't me – I only have one account but am on a large network.
Unfortunately for you, I’ve now looked more closely at the email address and see it’s similar to someone who’s on a permanent ban because of a long history of trolling and causing problems for moderators by trying to skirt bans. I’m putting you on the ban list again. If you think this is a mistake, then reply and your comment will end up in the back end where I will see it.
At some point lprent will do an amnesty on the permanent bans. At which point I suggest that if you want to comment here you pick one name, stick to it, and keep your head down.
I am not sure what sort of training such businesses offer.
they are usually family run and they work 24/7. My family owned such a business when I was growing up. The work is endless.
your comment does hint at a blame the victim approach. Was that what you were meaning or have I misinterpreted you? My apologies if I have. The blame lies with the a…hole who stabbed the worker to death.
Right, and who do you think should provide the training to the bosses? The police? The military?
Who do you think is equipped in NZ currently to ward off some shitheel with a knife? Would you be trained enough?
The last knife attacker is now in a female prison for attacking three people, inclusive his/their ex girlfriend who will have lasting scars in her face. And these victims simply had the audacity to go to a restaurant for a dinner and thought that was safe in NZ.
If you think dudes/ettes outside are shifty, close the door – which we do a lot now a days.
They will have to break the door, and by that time she should be able to get out the back door.
No heroics, no nothing. Just try to get out and not worry about a single thing or a single cent. Money is replacable, a cut up face is for live. IF you can't get away, give them the contents of the till, if they want a coffee to go with that , make that coffee, pack the box of chocolates and wish them a good day. Anything to stay unharmed and alive.
But in fact there is no training that can help you to get a way from someone who just simply has no respect for others, for society or their communities.
What will happen now is that Dairys will arm themselves, will hopefully always have a two people policies – if they don't have for the most part even more CCTV that they already have and if all falters, just shut. Because clearly it onus is on us to keep us alive, the police will come to mop up what is left over if the robbery/raid goes wrong, and of course lay a charge for murder or assault.
If the government is serious about winning the next election, and helping those at risk of being impacted by rising mortgage rates, then the government should change the target inflation range temporarilly to reflect the reality of the economic situation.
Those at risk don't only include mortgage holders. But also likely tenants who may face rent increases to cover increasing mortgage costs incurred by landlords.
If a lot of the inflation is imported, then, that component of inflation will not be affected. So, the only way to bring inflation back within the target band is to basically force NZ into a full-blown recession.
I think the target rate for the next three years should be say 3-5%, which would be much more achievable with a lot less pain.
I was trying to find some data to refute your claim,
But also likely tenants who may face rent increases to cover increasing mortgage costs incurred by landlords.
which I just don't think is true, at least not to the same scale of increase or remotely close to it. I do note you have couched your claim using the words, "likely", and "may".
There's this GA article from 2014. Best line is first in the comments section,
I read a lot about this also on interest, but the most obvious thing is that rents are paid from real money, out of real people income, sweat, work and productivity, that is finite. Houses are paid with fake bank money that don’t exist, so they can be as expensive as many zero you can put on a computer screen. Banks want houses to be more expensive, so they give you more fake money and so on, while we all get poorer. If we started listening a bit less to the Economists (with capital E) and a bit more on our brain cells, we would all be better off.
It is true to the extent that landlords will try to pass on their costs to tenants if they are able to. Of course, market conditions may not allow that. For instance, if there is a glut of houses on the market. So, it isn't given.
Firstly, within a historical context, the inflation rate has been much higher in the past reaching an eye-watering 17% in 1987. So, I am not sure that 3-5% inflation is intolerable for several years, given the extra-ordinary times we have been through, and that the RB did cock things up a bit.
Secondly, adjusting the inflation target range is not without historical precedent. For instance, in 1996 the target range moved from 0-2% to 0-3%.
If we do have a recession, there is no guarantee it will be shallow, and it may cost a lot of jobs. But applying the handbrake a bit slower may allow a lot of jobs to be saved.
Even if the RB crashes the economy, there still won't be price stability. For instance, we import a lot of stuff as part of my company. Prices have gone up at least 30% from most suppliers over the last several years. There is no sign that imported inflation is going to end any time soon.
What will happen though, in a recession, is a lot of people will lose their jobs, and there will be a lot of hardship that could be avoided by taking a more measured approach to bringing down inflation. It is not the fault of voters that the RB way over-stimulated the economy. Yet they are being expected to take the medicine to fix it.
Someone pays one way or another whether target inflation range stays the same or is increased temporarilly to a more realistic level. That is through either slightly higher prices, but lower interest rates. Or higher interest rates, and slightly lower prices.
One of the understood effects of the OCR tightening is the currency appreciation.There are 2 parts here the appreciation of the US$ as a reserve currency with large reservoirs for liquid assets such as cash,and the differential in the interest rates (with forex risk)
Here with the OCR being largely forecast there has been an appreciation of 10% since the start of oct,against the US$.This in turn reduces the cost of imports along with reducing the freight and insurance component ( freight rates now back to around pre covid)
The question you need to ask your supplier is why the price has not adjusted.
"Increasingly National’s election pitch is simply that they are “not Labour”. But is that really enough during an economic recession? Does National have any policies of substance that might help navigate the current economic crisis? Even if voters punish Labour for mismanaging the economy, there are no signs that they should have confidence that National would do any better."
When a Government takes from more people than it gives too or does not give enough to those who believe they deserve more then a majority is formed for its demise. The major problem is inflation which takes from many and gives to few – so once the incumbent Government is blamed for "letting inflation get out of control" it is on the way to being toast.
The current Gov may have a lot to answer for but in reality the current economic situation has been little influenced by them, this situation has been building since 2008 , and as is noted in the linked piece that will butter no parsnips for the electorate come next year.
Question: Why the first house price spike 2002-2008?
While looking for something else I saw again the there has been constant and severe house price inflation in NZ for 20 years now, briefly interrupted by the GFC. We know about 2010-2018 (Jong Khee), and 2020-2021 (Covid relief).
Why did the 2002-2008 spike occur? Accelerated immigration? Free trade deal with China? Is it just the cost of open tap neoliberal economics?
I suspect it is, which is why I applaud this government's commitment to managing immigration and foreign capital interference in the residential housing market.
it's also because the Retirement Commissioner spent years telling NZ to invest in property. That alongside the narrative that we couldn't afford superannuation any more and people needed to save for their own retirement. It was very anti-socialist/pro neolib.
Yes, i remember that. And the re-zoning of residential properties/zones to mixed which resulted in many nice villas being turned into offices, dental clinics and the likes. These lost residential houses were never replaced.
There was also the share market collapse in 1987 causing the losses of retirement savings of many, so for some, property probably would at least be worth something, unlike shares which can theoretically become worthless.
I also wonder how much impact Rich Dad, Poor Dad had – the book had more to it than "buy underpriced real estate using leverage", but that was probably the main message people took from it. It was published in 1997 and was a big seller, and I could see that message slowly percolating through to NZ after the 1997 Asian financial crisis as the economy first recovered in 1998-9 and then picked up steam under Labour.
I remember a real slump in house prices in 1991. I was overseas for most of 1990 and I remember when I came back giving some serious thought to buying an investment property in early 1991 as there was quite a glut on the market. I did decide not to – which was probably wise.
Those that have shall be given more, and they will have an abundance. But those that do not have, even what they have, will be taken away from them.
Matthew 25:29
The OCR: What you need to know
RNZ Business
12:46 pm on 23 November 2022
…… increasing the OCR, the cost to consumers of borrowing money from their banks also increases, and as consumers find themselves spending more of their take-home pay on servicing their debts, they have less money to spend on other things.
Banks made record profits, there was no pandemic for them. Rents, mortgages still had to be paid even under lock down.
To keep up with paying higher interest rates demanded by the banksters. Adrian Orr says the public will have to cut their spending,
Adrian Orr has also linked higher unemployment to job competition as the answer to 'wage inflation'.
Adrian Orr says unemployment must rise, before inflation, (particularly wage inflation) will be brought under control.
Bigger mortgage payments, less wages, more unemployment, more job competition, this is all sweet music to the banksters and bosses.
Listening to the car radio. Newstalk ZB, a representative of the banking community said; Can't meet your new mortgage interest rate. Talk to us. 'We can help. 'We don't want to see you out of your home.' 'We are here for the long haul'. (And so are you).
Bought at the high end of the housing market?
Feeling squeezed between inadequate wage increases and high interest rates?
Go to your local bank manager and beg for mercy like the desperate wretch you are, He will see what he can do for you. Agree to a mortgage holiday, or longer period of payment, he will let you stay in your home to work longer to pay off your mortgage.
The March of the Greedies;
Adrian Orr admits Reserve Bank is 'deliberately engineering recession'
Tom Pullar-Strecker 10:02, Nov 24 2022
Orr told Parliament’s Finance and Expenditure select committee it was correct that the Reserve Bank was engineering a recession, saying it was deliberately trying to slow spending in the economy.
"….You know, if you just start behaving, ‘1% different’ around inflation expectations and wage growth that makes our job easier."
Reserve Bank manager, Adrian Orr. also says government spending must be cut.
(Y'know, health care, education, welfare all that unnecessary stuff that gets in the way of maximising bankster profits).
…..Adrian Orr's message to think harder about spending – or "cool the jets" – isn't just for the public. He has told the Government to spend sensibly or risk even higher inflation.
No one should expect their investment to be underwritten by taxpayers. You are responsible for your own risk more than banks are.
Hindsight won't be kind to this government wasting billions on non-delivered services. Robertson may think the RB is overreacting, but honestly so did Robertson.
The fed minutes last night said they showed a greater then even chance (likely) of recession,.The IIF models forecast recession,so it is an expected outcome from high inflation and the necessary mechanism to curb animal spirits,through the forced extinction of Zombie companies,that take easy capital and transform it into empty pixels such as the removal in value of 2.2 trillion $ in crypto,or the deleveraging of property values.
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After the Berlin Wall came down in 1989, and almost a year before the Soviet Union collapsed in late 1991, US President George H W Bush proclaimed a ‘new world order’. Now, just two months ...
Warning: Some images may be distressing. Thank you for those who support my work. It means a lot.A shopfront in Australia shows Liberal leader Peter Dutton and mining magnate Gina Rinehart depicted with Nazi imageryUS Government Seeks Death Penalty for Luigi MangioneMangione was publicly walked in front of media in ...
Aged care workers rallying against potential roster changes say Bupa, which runs retirement homes across the country, needs to focus on care instead of money. More than half of New Zealand workers wish they had chosen a different career according to a new survey. Consumers are likely to see a ...
The scurrilous attacks on Benjamin Doyle, a list Green MP, over his supposed inappropriate behaviour towards children has dominated headlines and social media this past week, led by frothing Rightwing agitators clutching their pearls and fanning the flames of moral panic over pedophiles and and perverts. Winston Peter decided that ...
Twilight Time Lighthouse Cuba, Wigan Street, Wellington, Sunday 6 April, 5:30pm for 6pm start. Twilight Time looks at the life and work of Desmond Ball, (1947-2016), a barefooted academic from ‘down under’ who was hailed by Jimmy Carter as “the man who saved the world”, as he proved the fallacy ...
The landedAnd the wealthyAnd the piousAnd the healthyAnd the straight onesAnd the pale onesAnd we only mean the male ones!If you're all of the above, then you're ok!As we build a new tomorrow here today!Lyrics Glenn Slater and Allan Menken.Ah, Democracy - can you smell it?It's presently a sulphurous odour, ...
US President Donald Trump’s unconventional methods of conducting international relations will compel the next federal government to reassess whether the United States’ presence in the region and its security assurances provide a reliable basis for ...
Things seem to be at a pretty low ebb in and around the Reserve Bank. There was, in particular, the mysterious, sudden, and as-yet unexplained resignation of the Governor (we’ve had four Governors since the Bank was given its operational autonomy 35 years ago, and only two have completed their ...
Long story short:PMChristopher Luxon said in January his Government was ‘going for growth’ and he wanted New Zealanders to develop a ‘culture of yes.’ Yet his own Government is constantly saying no, or not yet, to anchor investments that would unleash real private business investment and GDP growth. ...
Long story short:PMChristopher Luxon said in January his Government was ‘going for growth’ and he wanted New Zealanders to develop a ‘culture of yes.’ Yet his own Government is constantly saying no, or not yet, to anchor investments that would unleash real private business investment and GDP growth. ...
For decades, Britain and Australia had much the same process for regulating media handling of defence secrets. It was the D-notice system, under which media would be asked not to publish. The two countries diverged ...
For decades, Britain and Australia had much the same process for regulating media handling of defence secrets. It was the D-notice system, under which media would be asked not to publish. The two countries diverged ...
This post by Nicolas Reid was originally published on Linked in. It is republished here with permission.In this article, I make a not-entirely-serious case for ripping out Spaghetti Junction in Auckland, replacing it with a motorway tunnel, and redeveloping new city streets and neighbourhoods above it instead. What’s ...
This post by Nicolas Reid was originally published on Linked in. It is republished here with permission.In this article, I make a not-entirely-serious case for ripping out Spaghetti Junction in Auckland, replacing it with a motorway tunnel, and redeveloping new city streets and neighbourhoods above it instead. What’s ...
In short this morning in our political economy:The Nelson Hospital crisis revealed by 1News’Jessica Roden dominates the political agenda today. Yet again, population growth wasn’t planned for, or funded.Kāinga Ora is planning up to 900 house sales, including new ones, Jonathan Milne reports for Newsroom.One of New Zealand’s biggest ...
In short this morning in our political economy:The Nelson Hospital crisis revealed by 1News’Jessica Roden dominates the political agenda today. Yet again, population growth wasn’t planned for, or funded.Kāinga Ora is planning up to 900 house sales, including new ones, Jonathan Milne reports for Newsroom.One of New Zealand’s biggest ...
The war between Russia and Ukraine continues unabated. Neither side is in a position to achieve its stated objectives through military force. But now there is significant diplomatic activity as well. Ukraine has agreed to ...
One of the first aims of the United States’ new Department of Government Efficiency was shutting down USAID. By 6 February, the agency was functionally dissolved, its seal missing from its Washington headquarters. Amid the ...
If our strategic position was already challenging, it just got worse. Reliability of the US as an ally is in question, amid such actions by the Trump administration as calling for annexation of Canada, threating ...
Small businesses will be exempt from complying with some of the requirements of health and safety legislation under new reforms proposed by the Government. The living wage will be increased to $28.95 per hour from September, a $1.15 increase from the current $27.80. A poll has shown large opposition to ...
Summary A group of senior doctors in Nelson have spoken up, specifically stating that hospitals have never been as bad as in the last year.Patients are waiting up to 50 hours and 1 death is directly attributable to the situation: "I've never seen that number of patients waiting to be ...
Although semiconductor chips are ubiquitous nowadays, their production is concentrated in just a few countries, and this has left the US economy and military highly vulnerable at a time of rising geopolitical tensions. While the ...
Health and Safety changes driven by ACT party ideology, not evidence said NZCTU Te Kauae Kaimahi President Richard Wagstaff. Changes to health and safety legislation proposed by the Minister for Workplace Relations and Safety Brooke van Velden today comply with ACT party ideology, ignores the evidence, and will compound New ...
In short in our political economy this morning:Fletcher Building is closing its pre-fabricated house-building factory in Auckland due to a lack of demand, particularly from the Government.Health NZ is sending a crisis management team to Nelson Hospital after a 1News investigation exposed doctors’ fears that nearly 500 patients are overdue ...
Exactly 10 years ago, the then minister for defence, Kevin Andrews, released the First Principles Review: Creating One Defence (FPR). With increasing talk about the rising possibility of major power-conflict, calls for Defence funding to ...
In events eerily similar to what happened in the USA last week, Greater Auckland was recently accidentally added to a group chat between government ministers on the topic of transport.We have no idea how it happened, but luckily we managed to transcribe most of what transpired. We share it ...
Hi,When I look back at my history with Dylan Reeve, it’s pretty unusual. We first met in the pool at Kim Dotcom’s mansion, as helicopters buzzed overhead and secret service agents flung themselves off the side of his house, abseiling to the ground with guns drawn.Kim Dotcom was a German ...
Come around for teaDance me round and round the kitchenBy the light of my T.VOn the night of the electionAncient stars will fall into the seaAnd the ocean floor sings her sympathySongwriter: Bic Runga.The Prime Minister stared into the camera, hot and flustered despite the predawn chill. He looked sadly ...
Has Winston Peters got a ferries deal for you! (Buyer caution advised.) Unfortunately, the vision that Peters has been busily peddling for the past 24 hours – of several shipyards bidding down the price of us getting smaller, narrower, rail-enabled ferries – looks more like a science fiction fantasy. One ...
Completed reads for March: The Heart of the Antarctic [1907-1909], by Ernest Shackleton South [1914-1917], by Ernest Shackleton Aurora Australis (collection), edited by Ernest Shackleton The Book of Urizen (poem), by William Blake The Book of Ahania (poem), by William Blake The Book of Los (poem), by William Blake ...
First - A ReminderBenjamin Doyle Doesn’t Deserve ThisI’ve been following posts regarding Green MP Benjamin Doyle over the last few days, but didn’t want to amplify the abject nonsense.This morning, Winston Peters, New Zealand’s Deputy Prime Minister, answered the alt-right’s prayers - guaranteeing amplification of the topic, by going on ...
US President Donald Trump has shown a callous disregard for the checks and balances that have long protected American democracy. As the self-described ‘king’ makes a momentous power grab, much of the world watches anxiously, ...
They can be the very same words. And yet their meaning can vary very much.You can say I'll kill him about your colleague who accidentally deleted your presentation the day before a big meeting.You can say I'll kill him to — or, for that matter, about — Tony Soprano.They’re the ...
Back in 2020, the then-Labour government signed contracted for the construction and purchase of two new rail-enabled Cook Strait ferries, to be operational from 2026. But when National took power in 2023, they cancelled them in a desperate effort to make the books look good for a year. And now ...
The fragmentation of cyber regulation in the Indo-Pacific is not just inconvenient; it is a strategic vulnerability. In recent years, governments across the Indo-Pacific, including Australia, have moved to reform their regulatory frameworks for cyber ...
Welcome to the March 2025 Economic Bulletin. The feature article examines what public private partnerships (PPPs) are. PPPs have been a hot topic recently, with the coalition government signalling it wants to use them to deliver infrastructure. However, experience with PPPs, both here and overseas, indicates we should be wary. ...
Willis announces more plans of plans for supermarketsYesterday’s much touted supermarket competition announcement by Nicola Willis amounted to her telling us she was issuing a 6 week RFI1 that will solicit advice from supermarket players.In short, it was an announcement of a plan - but better than her Kiwirail Interislander ...
This was the post I was planning to write this morning to mark Orr’s final day. That said, if the underlying events – deliberate attempts to mislead Parliament – were Orr’s doing, the post is more about the apparent uselessness of Parliament (specifically the Finance and Expenditure Committee) in holding ...
Taiwanese chipmaking giant TSMC’s plan to build a plant in the United States looks like a move made at the behest of local officials to solidify US support for Taiwan. However, it may eventually lessen ...
This is a Guest Post by Transport Planner Bevan Woodward from the charitable trust Movement, which has lodged an application for a judicial review of the Governments Setting of Speed Limits Rule 2024 Auckland is at grave risk of having its safer speed limits on approx. 1,500 local streets ...
We're just talkin' 'bout the futureForget about the pastIt'll always be with usIt's never gonna die, never gonna dieSongwriters: Brian Johnson / Angus Young / Malcolm YoungMorena, all you lovely people, it’s good to be back, and I have news from the heartland. Now brace yourself for this: depending on ...
Today is the last day in office for the Governor of the Reserve Bank, Adrian Orr. Of course, he hasn’t been in the office since 5 March when, on the eve of his major international conference, his resignation was announced and he stormed off with no (effective) notice and no ...
Treasury and Cabinet have finally agreed to a Crown guarantee for a non-Government lending agency for Community Housing Providers (CHPs), which could unlock billions worth of loans and investments by pension funds and banks to build thousands of more affordable social homes. Photo: Lynn GrievesonMōrena. Long stories shortest:Chris Bishop ...
Australia has plenty of room to spend more on defence. History shows that 2.9 percent of GDP is no great burden in ordinary times, so pushing spending to 3.0 percent in dangerous times is very ...
In short this morning in our political economy:Winston Peters will announce later today whether two new ferries are rail ‘compatible’, requiring time-consuming container shuffling, or the more efficient and expensive rail ‘enabled,’ where wagons can roll straight on and off.Nicola Willisthreatened yesterday to break up the supermarket duopoly with ...
A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, March 23, 2025 thru Sat, March 29, 2025. This week's roundup is again published by category and sorted by number of articles included in each. The formatting is a ...
For prospective writers out there, Inspired Quill, the publisher of my novel(s) is putting together a short story anthology (pieces up to 10,000 words). The open submission window is 29th March to 29th April. https://www.inspired-quill.com/anthology-submissions/ The theme?This anthology will bring together diverse voices exploring themes of hope, resistance, and human ...
Prime minister Kevin Rudd released the 2009 defence white paper in May of that year. It is today remembered mostly for what it said about the strategic implications of China’s rise; its plan to double ...
In short this morning in our political economy:Voters want the Government to retain the living wage for cleaners, a poll shows.The Government’s move to provide a Crown guarantee to banks and the private sector for social housing is described a watershed moment and welcomed by Community Housing Providers.Nicola Willis is ...
The recent attacks in the Congo by Rwandan backed militias has led to worldwide condemnation of the Rwandan regime of Paul Kagame. Following up on the recent Fabian Zoom with Mikela Wrong and Maria Amoudian, Dr Rudaswinga will give a complete picture of Kagame’s regime and discuss the potential ...
New Zealand’s economic development has always been a partnership between the public and private sectors.Public-Private-Partnerships (PPPs) have become fashionable again, partly because of the government’s ambitions to accelerate infrastructural development. There is, of course, an ideological element too, while some of the opposition to them is also ideological.PPPs come in ...
How Australia funds development and defence was front of mind before Tuesday’s federal budget. US President Donald Trump’s demands for a dramatic lift in allied military spending and brutal cuts to US foreign assistance meant ...
Questions 1. Where and what is this protest?a. Hamilton, angry crowd yelling What kind of food do you call this Seymour?b.Dunedin, angry crowd yelling Still waiting, Simeon, still waitingc. Wellington, angry crowd yelling You’re trashing everything you idiotsd. Istanbul, angry crowd yelling Give us our democracy back, give it ...
Two blueprints that could redefine the Northern Territory’s economic future were launched last week. The first was a government-led economic strategy and the other an industry-driven economic roadmap. Both highlight that supporting the Northern Territory ...
Abortion care at Whakatāne Hospital has been quietly shelved, with patients told they will likely have to travel more than an hour to Tauranga to get the treatment they need. ...
Thousands of New Zealanders’ submissions are missing from the official parliamentary record because the National-dominated Justice Select Committee has rushed work on the Treaty Principles Bill. ...
Today’s announcement of 10 percent tariffs for New Zealand goods entering the United States is disappointing for exporters and consumers alike, with the long-lasting impact on prices and inflation still unknown. ...
The National Government’s choices have contributed to a slow-down in the building sector, as thousands of people have lost their jobs in construction. ...
Willie Apiata’s decision to hand over his Victoria Cross to the Minister for Veterans is a powerful and selfless act, made on behalf of all those who have served our country. ...
The Privileges Committee has denied fundamental rights to Debbie Ngarewa-Packer, Rawiri Waititi and Hana-Rawhiti Maipi-Clarke, breaching their own standing orders, breaching principles of natural justice, and highlighting systemic prejudice and discrimination within our parliamentary processes. The three MPs were summoned to the privileges committee following their performance of a haka ...
April 1 used to be a day when workers could count on a pay rise with stronger support for those doing it tough, but that’s not the case under this Government. ...
Winston Peters is shopping for smaller ferries after Nicola Willis torpedoed the original deal, which would have delivered new rail enabled ferries next year. ...
The Government should work with other countries to press the Myanmar military regime to stop its bombing campaign especially while the country recovers from the devastating earthquake. ...
The Green Party is calling for the Government to scrap proposed changes to Early Childhood Care, after attending a petition calling for the Government to ‘Put tamariki at the heart of decisions about ECE’. ...
New Zealand First has introduced a Member’s Bill today that will remove the power of MPs conscience votes and ensure mandatory national referendums are held before any conscience issues are passed into law. “We are giving democracy and power back to the people”, says New Zealand First Leader Winston Peters. ...
Welcome to members of the diplomatic corp, fellow members of parliament, the fourth estate, foreign affairs experts, trade tragics, ladies and gentlemen. ...
In recent weeks, disturbing instances of state-sanctioned violence against Māori have shed light on the systemic racism permeating our institutions. An 11-year-old autistic Māori child was forcibly medicated at the Henry Bennett Centre, a 15-year-old had his jaw broken by police in Napier, kaumātua Dean Wickliffe went on a hunger ...
Confidence in the job market has continued to drop to its lowest level in five years as more New Zealanders feel uncertain about finding work, keeping their jobs, and getting decent pay, according to the latest Westpac-McDermott Miller Employment Confidence Index. ...
The Greens are calling on the Government to follow through on their vague promises of environmental protection in their Resource Management Act (RMA) reform. ...
“Make New Zealand First Again” Ladies and gentlemen, First of all, thank you for being here today. We know your lives are busy and you are working harder and longer than you ever have, and there are many calls on your time, so thank you for the chance to speak ...
Hundreds more Palestinians have died in recent days as Israel’s assault on Gaza continues and humanitarian aid, including food and medicine, is blocked. ...
National is looking to cut hundreds of jobs at New Zealand’s Defence Force, while at the same time it talks up plans to increase focus and spending in Defence. ...
It’s been revealed that the Government is secretly trying to bring back a ‘one-size fits all’ standardised test – a decision that has shocked school principals. ...
The Green Party is calling for the compassionate release of Dean Wickliffe, a 77-year-old kaumātua on hunger strike at the Spring Hill Corrections Facility, after visiting him at the prison. ...
The Green Party is calling on Government MPs to support Chlöe Swarbrick’s Member’s Bill to sanction Israel for its unlawful presence and illegal actions in Palestine, following another day of appalling violence against civilians in Gaza. ...
The Green Party stands in support of volunteer firefighters petitioning the Government to step up and change legislation to provide volunteers the same ACC coverage and benefits as their paid counterparts. ...
At 2.30am local time, Israel launched a treacherous attack on Gaza killing more than 300 defenceless civilians while they slept. Many of them were children. This followed a more than 2 week-long blockade by Israel on the entry of all goods and aid into Gaza. Israel deliberately targeted densely populated ...
Living Strong, Aging Well There is much discussion around the health of our older New Zealanders and how we can age well. In reality, the delivery of health services accounts for only a relatively small percentage of health outcomes as we age. Significantly, dry warm housing, nutrition, exercise, social connection, ...
Shane Jones’ display on Q&A showed how out of touch he and this Government are with our communities and how in sync they are with companies with little concern for people and planet. ...
The Government’s new planning legislation to replace the Resource Management Act will make it easier to get things done while protecting the environment, say Minister Responsible for RMA Reform Chris Bishop and Under-Secretary Simon Court. “The RMA is broken and everyone knows it. It makes it too hard to build ...
Trade and Investment Minister Todd McClay has today launched a public consultation on New Zealand and India’s negotiations of a formal comprehensive Free Trade Agreement. “Negotiations are getting underway, and the Public’s views will better inform us in the early parts of this important negotiation,” Mr McClay says. We are ...
More than 900 thousand superannuitants and almost five thousand veterans are among the New Zealanders set to receive a significant financial boost from next week, an uplift Social Development and Employment Minister Louise Upston says will help support them through cost-of-living challenges. “I am pleased to confirm that from 1 ...
Progressing a holistic strategy to unlock the potential of New Zealand’s geothermal resources, possibly in applications beyond energy generation, is at the centre of discussions with mana whenua at a hui in Rotorua today, Resources and Regional Development Minister Shane Jones says. The Coalition Government is in the early stages ...
New annual data has exposed the staggering cost of delays previously hidden in the building consent system, Building and Construction Minister Chris Penk says. “I directed Building Consent Authorities to begin providing quarterly data last year to improve transparency, following repeated complaints from tradespeople waiting far longer than the statutory ...
Increases in water charges for Auckland consumers this year will be halved under the Watercare Charter which has now been passed into law, Local Government Minister Simon Watts and Auckland Minister Simeon Brown say. The charter is part of the financial arrangement for Watercare developed last year by Auckland Council ...
There is wide public support for the Government’s work to strengthen New Zealand’s biosecurity protections, says Biosecurity Minister Andrew Hoggard. “The Ministry for Primary Industries recently completed public consultation on proposed amendments to the Biosecurity Act and the submissions show that people understand the importance of having a strong biosecurity ...
A new independent review function will enable individuals and organisations to seek an expert independent review of specified civil aviation regulatory decisions made by, or on behalf of, the Director of Civil Aviation, Acting Transport Minister James Meager has announced today. “Today we are making it easier and more affordable ...
The Government will invest in an enhanced overnight urgent care service for the Napier community as part of our focus on ensuring access to timely, quality healthcare, Health Minister Simeon Brown has today confirmed. “I am delighted that a solution has been found to ensure Napier residents will continue to ...
Health Minister Simeon Brown and Mental Health Minister Matt Doocey attended a sod turning today to officially mark the start of construction on a new mental health facility at Hillmorton Campus. “This represents a significant step in modernising mental health services in Canterbury,” Mr Brown says. “Improving health infrastructure is ...
Finance Minister Nicola Willis has welcomed confirmation the economy has turned the corner. Stats NZ reported today that gross domestic product grew 0.7 per cent in the three months to December following falls in the June and September quarters. “We know many families and businesses are still suffering the after-effects ...
The sealing of a 12-kilometre stretch of State Highway 43 (SH43) through the Tangarakau Gorge – one of the last remaining sections of unsealed state highway in the country – has been completed this week as part of a wider programme of work aimed at improving the safety and resilience ...
Deputy Prime Minister and Foreign Minister Winston Peters says relations between New Zealand and the United States are on a strong footing, as he concludes a week-long visit to New York and Washington DC today. “We came to the United States to ask the new Administration what it wants from ...
Associate Justice Minister Nicole McKee has welcomed changes to international anti-money laundering standards which closely align with the Government’s reforms. “The Financial Action Taskforce (FATF) last month adopted revised standards for tackling money laundering and the financing of terrorism to allow for simplified regulatory measures for businesses, organisations and sectors ...
Associate Health Minister David Seymour says he welcomes Medsafe’s decision to approve an electronic controlled drug register for use in New Zealand pharmacies, allowing pharmacies to replace their physical paper-based register. “The register, developed by Kiwi brand Toniq Limited, is the first of its kind to be approved in New ...
The Coalition Government’s drive for regional economic growth through the $1.2 billion Regional Infrastructure Fund is on track with more than $550 million in funding so far committed to key infrastructure projects, Regional Development Minister Shane Jones says. “To date, the Regional Infrastructure Fund (RIF) has received more than 250 ...
[Comments following the bilateral meeting with United States Secretary of State, Marco Rubio; United States State Department, Washington D.C.] * We’re very pleased with our meeting with Secretary of State Marco Rubio this afternoon. * We came here to listen to the new Administration and to be clear about what ...
The intersection of State Highway 2 (SH2) and Wainui Road in the Eastern Bay of Plenty will be made safer and more efficient for vehicles and freight with the construction of a new and long-awaited roundabout, says Transport Minister Chris Bishop. “The current intersection of SH2 and Wainui Road is ...
The Ocean Race will return to the City of Sails in 2027 following the Government’s decision to invest up to $4 million from the Major Events Fund into the international event, Auckland Minister Simeon Brown says. “New Zealand is a proud sailing nation, and Auckland is well-known internationally as the ...
Improving access to mental health and addiction support took a significant step forward today with Mental Health Minister Matt Doocey announcing that the University of Canterbury have been the first to be selected to develop the Government’s new associate psychologist training programme. “I am thrilled that the University of Canterbury ...
Health Minister Simeon Brown has today officially opened the new East Building expansion at Manukau Health Park. “This is a significant milestone and the first stage of the Grow Manukau programme, which will double the footprint of the Manukau Health Park to around 30,000m2 once complete,” Mr Brown says. “Home ...
The Government will boost anti-crime measures across central Auckland with $1.3 million of funding as a result of the Proceeds of Crime Fund, Auckland Minister Simeon Brown and Associate Justice Minister Nicole McKee say. “In recent years there has been increased antisocial and criminal behaviour in our CBD. The Government ...
The Government is moving to strengthen rules for feeding food waste to pigs to protect New Zealand from exotic animal diseases like foot and mouth disease (FMD), says Biosecurity Minister Andrew Hoggard. ‘Feeding untreated meat waste, often known as "swill", to pigs could introduce serious animal diseases like FMD and ...
Prime Minister Christopher Luxon and Indian Prime Minister Narendra Modi held productive talks in New Delhi today. Fresh off announcing that New Zealand and India would commence negotiations towards a Comprehensive Free Trade Agreement, the two Prime Ministers released a joint statement detailing plans for further cooperation between the two countries across ...
Agriculture and Trade Minister Todd McClay signed a new Memorandum of Cooperation (MOC) today during the Prime Minister’s Indian Trade Mission, reinforcing New Zealand’s commitment to enhancing collaboration with India in the forestry sector. “Our relationship with India is a key priority for New Zealand, and this agreement reflects our ...
Agriculture and Trade Minister Todd McClay signed a new Memorandum of Cooperation (MOC) today during the Prime Minister’s Indian Trade Mission, reinforcing New Zealand’s commitment to enhancing collaboration with India in the horticulture sector. “Our relationship with India is a key priority for New Zealand, and this agreement reflects our ...
Attorney-General Judith Collins today announced the appointment of two new Family Court Judges. The new Judges will take up their roles in April and May and fill Family Court vacancies at the Auckland and Manukau courts. Annette Gray Ms Gray completed her law degree at Victoria University before joining Phillips ...
Health Minister Simeon Brown has today officially opened Wellington Regional Hospital’s first High Dependency Unit (HDU). “This unit will boost critical care services in the lower North Island, providing extra capacity and relieving pressure on the hospital’s Intensive Care Unit (ICU) and emergency department. “Wellington Regional Hospital has previously relied ...
Namaskar, Sat Sri Akal, kia ora and good afternoon everyone. What an honour it is to stand on this stage - to inaugurate this august Dialogue - with none other than the Honourable Narendra Modi. My good friend, thank you for so generously welcoming me to India and for our ...
Nearly 25 years after the "corngate" saga, the debate on genetic modification is back thanks to the Gene Technology Bill currently in select committee. ...
Source: The Conversation (Au and NZ) – By Stephanie Brodie, Research Scientist in Marine Ecology, CSIRO jittawit21, Shutterstock Picture this: you’re lounging on a beautiful beach, soaking up the sun and listening to the soothing sound of the waves. You run your hands through the warm sand, only to ...
By Caleb Fotheringham, RNZ Pacific journalist Although New Zealand and Australia seem to have escaped the worst of Donald Trump’s latest tariffs, some Pacific Islands stand to be hit hard — including a few that aren’t even “countries”. The US will impose a base tariff of 10 percent on all ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Prime Minister Anthony Albanese and Opposition Leader Peter Dutton both agree Australia should react to US President Donald Trump’s aggressive tariff regime by continuing to seek a special deal. They just disagree about which of ...
Source: The Conversation (Au and NZ) – By Joanne Orlando, Researcher, Digital Literacy and Digital Wellbeing, Western Sydney University UK Prime Minster Keir Starmer met with Adolescence writer Jack Thorne to discuss adolescent safety at Downing Street on Monday. Jack Taylor/ GettyImages Netflix’s Adolescence has ignited global debate. ...
By Anneke Smith,RNZ News political reporter A stoush between the Chief Human Rights Commissioner and a Jewish community leader has flared up following a showdown at Parliament. Appearing before a parliamentary select committee today, Dr Stephen Rainbow was asked about his recent apology for incorrect comments he made about ...
Source: The Conversation (Au and NZ) – By Rakesh Gupta, Associate Professor of Accounting & Finance, Charles Darwin University US President Donald Trump’s new trade war will not only send shockwaves through the global economy – it also upsets efforts to tackle the urgent issue of climate change. Trump has ...
Source: The Conversation (Au and NZ) – By Lisa Toohey, Professor of Law, UNSW Sydney It had the hallmarks of a reality TV cliffhanger. Until recently, many people had never even heard of tariffs. Now, there’s been rolling live international coverage of so-called “Liberation Day”, as US President Donald Trump ...
Source: The Conversation (Au and NZ) – By Nick Fuller, Clinical Trials Director, Department of Endocrinology, RPA Hospital, University of Sydney mavo/Shutterstock In the ever-changing wellness industry, one diet obsession has captured and held TikTok’s attention: protein. Whether it’s sharing snaps of protein-packed meals or giving tutorials to ...
Source: The Conversation (Au and NZ) – By Sebastian Maslow, Associate Professor, International Relations, University of Tokyo Two months into US President Donald Trump’s second term, the liberal international order is on life support. Alliances and multilateral institutions are now seen by the United States as burdens. Europe and ...
Starving public services of resources, gutting the workforce and then proposing private market solutions has been a key strategy of this government, says Vanessa Cole, spokesperson for Public Housing Futures. ...
Source: The Conversation (Au and NZ) – By Hayley Geyle, Ecologist, Charles Darwin University Sarah Maclagan/Author provided The greater bilby (Macrotis lagotis) is one of Australia’s most iconic yet at-risk animals — and the last surviving bilby species. Once found across 70% of Australia, its range has contracted by ...
The government’s own Regulatory Impact Statement acknowledges that organic producers will bear the financial burden of adapting to the risks posed by GMO expansion. ...
The committee has "rammed it through with outrageous haste", with a report now expected tomorrow, but excluding thousands of submissions, Duncan Webb says. ...
The US president’s sweeping programme of global tariffs will hit every country abroad, including New Zealand, and dramatically raise prices at home. This is an excerpt from The World Bulletin, our weekly global current affairs newsletter exclusively for Spinoff Members. Sign up here.In a dramatic, flag-draped address from the White ...
Alex Casey talks to Bariz Shah and Saba Afrasyabi, the couple who launched a project to change 51 lives in honour of those lost in the Christchurch mosque attacks. When Bariz Shah and Saba Afrasyabi walked into Naeem’s house in Jalalabad, Afghanistan, they knew immediately that he needed their help. ...
Source: The Conversation (Au and NZ) – By Felicity Deane, Professor of Trade Law, Taxation and Climate Change, Queensland University of Technology US President Donald Trump has imposed a range of tariffs on all products entering the US market, with Australian exports set to face a 10% tariff, effective April ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra US President Donald Trump singled out Australia’s beef trade for special mention in his announcement that the United States would impose a 10% global tariff as well as “reciprocal tariffs” on many countries. In ...
Source: The Conversation (Au and NZ) – By Hayley Geyle, Ecologist, Charles Darwin University Sarah Maclagan/Author provided The greater bilby (Macrotis lagotis) is one of Australia’s most iconic yet at-risk animals — and the last surviving bilby species. Once found across 70% of Australia, its range has contracted by ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra US President Donald Trump singled out Australia’s beef trade for special mention in his announcement that the United States would impose a 10% global tariff as well as “reciprocal tariffs” on many countries. In ...
Source: The Conversation (Au and NZ) – By Christopher Rudge, Law lecturer, University of Sydney Shutterstock Recent media coverage in the Nine newspapers highlights a surge in non-medical ultrasound providers offering “reassurance ultrasounds” to expectant parents. The service has resulted in serious harms, such as misdiagnosed ectopic pregnancies and ...
The three MPs whose rule-breaking haka caught the world’s attention didn’t attend their scheduled hearing yesterday. Constitutional law expert Andrew Geddis has the rundown of what happened, why, and what’s likely to come next. I see Te Pāti Māori and the privileges committee are in some sort of stand-off – ...
Source: The Conversation (Au and NZ) – By Simon Turner, Professor, School of Natural Sciences, Macquarie University The Eurasian and North American tectonic plates in Thingvellir National Park, Iceland.Nido Huebl/Shutterstock Earth is the only known planet which has plate tectonics today. The constant movement of these giant slabs of ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra US President Donald Trump singled out Australia’s beef trade for special mention in his announcement that the United States would impose a 10% global tariff as well as “reciprocal tariffs” on many countries. In ...
Meta has stolen millions of books to train its AI, including books by kaituhi Māori. What does that mean for mātauranga and its status as taonga? New Zealand authors are among the millions whose books have been pirated and scraped by Meta to train its AI. The New Zealand Society of ...
Some hoped the open of the New Zealand markets would open with a bounce as certain tariffs fell short of the worst-case scenario, but investors were met with a deflated thud.The New Zealand market fell immediately as stock market darling Fisher & Paykel Healthcare’s shares were punished, with no update ...
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Source: The Conversation (Au and NZ) – By Matthew Heaslip, Senior Lecturer in Naval History, University of Portsmouth How the Shuqiao barges may be used to ferry troops ashore. X (formerly Twitter) China’s intentions when it comes to Taiwan have been at the centre of intense discussion for years. ...
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You can only do one rent rise a year but the Reserve Bank has ensured it will be very big.
This government has had multiple chances to force greater price competition, but now the the RBNZ has just told Labour: "Too late!".
someone with a lot of money is going to have lots of fun buying up houses penny to the dollar. I wonder if we are going to see investors/hedgefunds/pension funds etc buying up large as they did/do in the US.
https://www.washingtonpost.com/business/interactive/2022/housing-market-investors/
Yes next year there could well be some real property bargains to be had for those lucky enough to be cashed up
The government had the opportunity to get rid of neoliberalism and return to its roots as a working class party. Labour 2022 is not socialist. It is simply a manager for the corporate establishment.
It chose the liberal middle class instead and consigned itself to the dustbin of history.
Can’t put it much clearer than that. And evidence is there via the neo liberal Parliamentary consensus–whereby the State Sector Act, Reserve Bank Act, monetarist transactional methods etc. roll over with each election. Labour has enacted a number of useful reforms that the Natzos would not have…but…when the pirate banks and supermarket duopoly laugh in their and citizens faces and keep raking it in, and a state house mega build remains wanting…
As for the current RB rate hike, unemployed are often viewed by tories as “dirty filthy bennies”, a sub class of despicable losers…yet the RB Governor now says we need to add to their ranks to fight inflation, what the…while at the same time employers say they are labour starved and want more migrant labour. Now sure, jobs and people cannot always be linked, but the employers position says little more than–“cheap labour now please”–just as a number of workers are rediscovering their fight and winning decent wage increases.
The faux separation of, and ‘independent’ status of the Reserve Bank, under the RB Act, is such a travesty and reveals like little else why the NZ neo liberal state has to be booted.
Descending into negative equity is going to be a humbling experience for some holders of thumping great mortgages, and guess what–voting for Baldrick is not going to make it better–the contrary in fact. Retired, middle class, working class and alienated need to find some points of unity and develop public action to combat the coming shit show.
[corrected typo in user name – Incognito]
Mod note
Thank you.
I see that the National Party and Groundswell are crowing about the number of signatures included in their petition which Groundswell describes as a "farming tax" but Stuff.co.nz describes as a "food tax" (Interesting contrast!).
By my rough calculations the petition at just over 102,000 was signed by something like 3% of the electorate – not a particularly impressive result and does not confirm Groundwell's claims that the overwhelming majority of New Zealanders support them.
By the way Groundswell keep sending me unsolicited feeds on Facebook and then getting angry when I respond to them asking questions which they don't want to answer. The solution is simple – if they don't want any criticism then stop sending them to me. The very first question I asked is "why are you calling it a farming tax when it is not a farming tax per se – it is an agricultural carbon emissions tax – which is not the same thing as in if you farm without emitting then you don't pay. I then told them that they were really just a front for the National Party at which point I received some hysterical troll responses.
They get angry unless you tell them what they want to hear.
I see nothing because you haven’t provided a single link besides a vague reference to Stuff.
stuff.co.nz/national/130485650/groundswell-nz-presents-its-food-tax-petition-at-parliament
Had to be typed out by hand because of my stupid IMAC that refuses to let me copy and paste links on this site, regardless of which browser I use.
https://www.stuff.co.nz/national/130485650/groundswell-nz-presents-its-food-tax-petition-at-parliament
try copying and pasting into another app first. Text Edit if you have it, then select plain text, then copy and paste to TS.
If that doesn't work, please let us know because it shouldn't be doing that (the TS edit box). Details of what happens would help.
Thanks Mike.
How do you farm without emitting? This seems like an impossibility to me.
Every human activity has some emissions attached to them
net zero carbon. You sequester more GHGs than you produce. This means transitioning to regenerative models that build soil, biodiversity and grow forests, as well as reducing the GHG emitting practices and stopping relying on pay to pollute carbon credit schemes.
This is physically possible. The main blocks are economic, political and philosophical. I favour subsidising farms to transition, but farmers have to be on board. We also can't do industrial farming at the scale we currently do, so we need to transition our economy at the same time.
I'm generally in agreement about the large scale dairy farms we have here in Canterbury. However I know many local farmers with small holdings who claim they will go out of business as a result of these new laws
that's tough, and again, I would support the government assisting family farms including small ones, to transition. Continuing to farm without taking climate and ecology into account is not a solution to their problem. Groundswell can't help them. I hope someone sorts that out though, because we don't need small family farms being bought up by corporations either.
The small family farm is terminal, land prices mean that it's only a matter of time before they are all gone,
can't see how that follows, unless farmers sell their family land on the open market.
I know a guy spent the last 30 years on the family farm on low wages, 10 years of it nursing the parents as well as running the farm , the siblings want their cut now , the farms not big enough to pay the mortgage on the 3 to 4 mill he'd have to borrow to pay them out.
Occasionally parents can structure it to hand it down , but it will usually involve getting bigger, and most likely at some point it will be to dare to hand down,
The family farm is terminal it just might be a long slow death for some.
the problem there is the decisions of the parents. Not being overly critical, lots of people are like this and don't sort this stuff out until it's too late. But there are other options to just selling up and splitting the money.
And if the parents want all the kids to have an equal share and thus are ok with the farm being sold, then they’re ok with it no longer being a family farm. That’s on them.
bearing in mind that my parents' generation were the ones where the farm got left to the oldest boy and the girls were supposed to marry farmers if they wanted a farming life.
I’ve also seen the farmers who inherited a farm but then when they want to retire they want bought out. So yeah, the land prices are a huge problem, but there are other factors here too.
I know a farming family who put the farm into a trust and now the kids and their mum run it and when she dies the kids will run and I guess their kids when they have them.
I just think that people who think money is more important than land are insane, but that does describe most of society
Not every human activity has or is for a profit motive. Profit per se is not the issue anyway, it is about businesses paying their fair share and including this into their business models.
The banks tell us we must stop buying silly smashed avocadoes – officially! They have come to save us all from inflation by taking every cent we have left. They have come to save us from leaky homes by fire-saling the houses. They have come to stop the silly notion of anyone but the chosen rich accumulating capital by taking it all back.
Questions?
Which “banks” or do you mean the RBNZ?
The RBNZ is also telling you to hold on to your job and enjoy your pay-rise while you can, because it is projecting unemployment starting to rise in 2023, which just so happens to be election year.
so to add to DB's list, "the banks" are also saying, sorry beneficiaries, better luck next time.
The official statement being:
https://www.rnz.co.nz/news/business/479336/official-cash-rate-raised-by-75-basis-points-to-4-point-25-percent
Gotta maintain precariousness for workers. How else can we ‘encourage’ them to accept insufficient wage increases and unimproved working conditions.
Yes, but to those of us who are not schooled in even basic economics such as I it is not clear what that really means. That article doesn’t mention the RBNZ projections of the unemployment rate over the next 3 years and they are dire. It does, however, mention recession three times! The Proletariat will shrink, the Precariat will grow and NACT + NZF will ride in as our economic saviours and apply the razor gangs to government spending, including social welfare. As they always do because they are a one-trick pony with the memory of a goldfish.
https://www.rbnz.govt.nz/monetary-policy/about-monetary-policy/inflation-and-maximum-sustainable-employment
What is interesting about the RBNZs position regarding MSE, is that we had increasing inflation before wage growth rates began rising. It's almost as if workers don't have anything to do with setting prices, the actual origin of inflation.
My limited understanding of it is that headline inflation was high to start with, because of Covid and other global issues, and this is starting to feed into core inflation such as the MSE and wage inflation. I guess our economy, like so many others, was and is not resilient enough to weather so many large shocks in rapid succession.
Whatever the source of inflation, it is those least responsible for rising prices who are already bearing the brunt of its effects. It's apparently unreasonable to expect lower margins of those businesses that have enjoyed rising profits despite COVID and other global issues.
What do you mean? How is this apparent [to you]? How do you envision RBNZ and/or Government to control or influence those margins?
Yes, of course, the people at the bottom always suffer most and will always suffer more when things get worse. Rightly or wrongly, this Government does acknowledge this with the CoL adjustment, for example. However, RBNZ sees it as a contributing factor to stubbornly high household spending:
https://www.rbnz.govt.nz/-/media/884276dd2ebb4962b325130eef7ae725.ashx
It is apparent because the call from the RBNZ is for reduced consumer spending, not restricted profit margins. Monetary policy has significant lag and it is not always as effective as hoped.
Seeing that we must consume to live and that inflation in the cost of living (a ghoulish term when examined) has been rising faster than wages, a interventionist government could clamp down on these costs through price controls, rent controls, excess profit tax and other fiscal policies.
The Cost of Living Payment was unwise IMO and not directed properly. A reduction in tax liability for those at bottom would have been a much better move.
"It is apparent because the call from the RBNZ is for reduced consumer spending, not restricted profit margins. "
That is a distinction that should be acknowledged.
I’m not aware of RBNZ having anything in their tool kit to adjust or influence profit margins in the private sector.
Yes, price controls are an option and Government is making moves on those. Of course, the rent freeze has ended but the HRC has called for a return.
https://www.rnz.co.nz/news/national/472987/human-rights-commission-says-freeze-on-rent-increases-should-return
Petrol is still 25 cts. off per litre, PT fares are still discounted. The fuel discount also benefits the transporting industry, which unsurprisingly have asked for it to remain.
https://www.newshub.co.nz/home/politics/2022/11/cost-of-living-transporting-nz-calling-for-fuel-tax-cut-to-remain-so-kiwis-can-have-certainty.html
There are plenty more examples of how Government shoulders some of the burden of rising costs (inflation) for New Zealanders.
Any changes to the tax system can easily backfire and stoke the inflationary fire even further. This is the double-edged sword of given the people more money in the hand which they will spend rather than save and/or pay off debt. Consumer spending needs to come down, not go up.
At least that’s my limited understanding of the tricky situation we’re in.
Its called demand destruction,it removes profits by enforcing providers to reduce margins to retain sales.it works efficiently in highly informed markets such as the US,where the prices fall to meet demand.
https://www.nasdaq.com/market-activity/commodities/lbs
The RBNZs tool kit is limited and their remit is also, I am not expecting them to achieve something that is not within their capabilities. Monetary policy such that it is.
The government, however, has a commanding parliamentary majority and control of fiscal policy; which can form much more directed and precise set of tools. While they have made plenty of prudent decisions I would also join those calling on the government for a reinstatement of the rent freeze. It seems to me as an abdication of sorts to the RBNZ; rather than institute the needed redistributive laws.
People are relying on the charity, such as food banks, for the bare necessities of life in increasing numbers, but they must some how spend less? If those on the lowest incomes had more spending power they may be able to improve their living conditions, for example, no longer skipping meals, or moving out of the unhealthy rental into something better for them. Targeted tax policy could ensure that, RBNZ policies cannot. Some demand is simply unavoidable. There is also plenty of spending being done by those who do not require philanthropy, more often doling it out. It is the governments role to attempt to solve these inequities, not the RBNZ.
Which "Banks" (plural) are these?
The only one I have seen doing anything like this is the Reserve Bank of New Zealand, which is an arm of Government and certainly isn't involved in lending you money to buy your home. There is only one RBNZ so you shouldn't be using a plural like "they".
We all know the 'official' banks follow the lead of RBNZ. It's dishonest to pretend otherwise.
Those are commercial banks and have completely different ‘mandates’ and accountability compared to RBNZ.
Kiwibank is owned by us. Do you think they blindly follow that lead as well?
If they do then Grant has to reprogramme their reason for being.
What is the plan for those currently struggling financially who face rising cost of lving increases?
For those that may lose their rentals?
For those that may lose their homes?
Any chance of measures to counter this stress and disruption?
Is that enough questions, for now?
I can only answer some. That may lose rentals – yes! That may lose homes – yes! I base my answers on historical precedent. This is a modern day land grab, as predicted, so blatantly obviously the same old same old.
Measures to counter this would have been to stop corporates jacking the price of everything and RBNZ not leading the charge to fuck all the little guys.
"Measures to counter this would have been to stop corporates jacking the price of everything and RBNZ not leading the charge to fuck all the little guys."
Yes. Making the impacts on little guys a political priority would be a start.
Little guys, and maybe I meant middle guys.
First home owners, not speculators, whose house should not be some widget in the enormous games of finance these fools play. I'm pissed off. Why were they (Government, RBNZ) all allowing so much practically free money to be lent out. And everyone BUY BUY BUY! We saw it coming, if we were meant to be paying attention and didn't… we were asleep. Everyone gets overextended and… hey presto, interest goes up, land grab.
They had the gall to tell us on the news last night those with savings are better off. Like it all balances out, this periodic stealing of people's life savings, via draining them trying to pay interest, then mortgagee sales, to further the rich.
I have an arrangement with my Bank that I pay the minimum fortnightly payment. That has not changed in the 4 years I have had the current mortgage. When interests rates were very low during Covid I was paying more principal and less interest. Now that rates are going up, I pay less principal and more interest. My fortnightly payment does not change.
The only thing that changes is the term of the loan. The date of final payment stretches out further and further. This does not bother me in the slightest – I will be long dead by then and the loan will be paid when either I, or my estate sells the property.
I bought my house over 40 years ago. I was paying 6% on the first mortgage and 9% on the second mortgage. I was single then (in the eyes of the State anyway) so I got flatmates in to help with the outgoings. In the bad days of the mid 1980's I had paid off the second mortgage, but was paying something like 17% on the first mortgage. I was lucky because my first mortgage was with Housing NZ because I bought in an area where the Government of the time was attempting to encourage home ownership. Other people were paying over 20% interest.
I was also lucky because I always had work.
You do not sound that 'lucky' to me. You bought the property over 40 years ago and still have a mortgage on it? Sounds to me like your bank has done you no favours and has made a lot of money at your expense. You should probably get a good mortgage broker and some sound financial advice.
I have this mortgage now because when I paid off the original amount in 1992, I did not actually discharge the mortgage – just left it sitting there for nearly 3 decades. I borrowed against it again 4 years ago when I retired in order to fund an extensive upgrade of part of the dwelling (which at 90 odd years old was badly needed) and I rent out that part while living in the other part myself.
That makes more sense. So was re-paid back in 1992. This is a new mortgage / draw down.
Listen to yourself and take you own advice: https://thestandard.org.nz/open-mike-05-10-2022/#comment-1913857.
Yes I will speak to myself. As its an offset mortgage and is completely offset the rate increasing wont affect me.
That sounds very smart but offset mortgages are at floating interest rate or higher and your comment makes no sense; your interest payments will go up too.
Only on the portion not offset – if it's fully offset (which is how I read the comment), no interest is charged. On the other hand, it's not much of a mortgage if it is fully offset – a mortgage in name only perhaps?
Loving the irony of Black Friday sale ads merrily sprinkled between the RBNZ pleading for people not to spend. This is the problem with capitalism, everyone constantly rowing against each other, sending out competing messages.
RBNZ says don't spend but every industry, everywhere, especially retail banking, says umm, no.
Covid relief was supposed to be security in uncertain times. What did middle New Zealand do? Went out and bought investment properties, fucking muppets.
Yes indeed, and various jackals are now gleefully buying property at lower prices. We sold six months back to move, in no rush, and the agent was really offended we held out for a less speculative buyer.
Unemployment will save us says the RB–yet–employers demand urgent imports of migrant labour. Which is really a call for low wages.
https://www.nzherald.co.nz/nz/sandringham-homicide-the-worst-has-happened-manhunt-under-way-as-community-left-shocked/DMOJJJWROZA3PA7RTK4SLNVHXU/
heartbreaking. Young guy in his 20s – 30s recently married. Stabbed while at work.
An absolute tragedy. My condolences to friends and family in this community, including the owners who were away on holiday.
It's sad to see crime appearing to be on the increase – violent crime especially.
I did a training session at work recently about safety awareness. One of the questions the speaker asked was would you feel safer working in a bank or a dairy (in relation to the threat of robbery and/or the potential for violence)?
Everyone said dairy
They said safer in a dairy?
Don't they read the new? Did the session allow for determining why they felt that way?
Sorry – meant that they felt less safe in the dairy. My typing error
A sad state of affairs. Being a dairy owner is a dangerous profession these days
All good.
That makes more sense.
That is because there has been a lot of target hardening in other places. Service stations used to be easy targets, – not any more. Dairies – with their windows covered in advertising and run by family members, are the softest target around at the moment.
This is a good point. As other retail businesses improve their security and minimise risk, criminals will look for easier targets.
When you get burgled the police come around and talk about steps you can take to make your house/car a less attractive target.
I have noticed some diaries starting to increase their security but I think there needs to be some consistency. I can't remember which of the big players owns 4 Square but they should be rolling out something to all their stores (though from what I know they are franchises)
They are part of the Foodstuffs Cooperative along with Pak 'n' Save and New World – technically not a franchise, but certainly looks and acts like one most of the time.
I think you meant occupation.
Well, whatever – you know what I meant
Yeah, you mean you are sloppy with words & meanings.
No – I just wasn't really thinking about it too deeply
Yes, that was obvious, as was your annoying typo earlier on
I'm sorry – is there some kind of problem?
Yes, there is, a major one in fact.
I’m more than happy to share it with you. Don’t you want to hear it? Don’t be shy, you normally aren’t, just say the word
Oh right I get it.
Ban me then if its a problem for you.
no, there is no problem. My suggestion is walk away from this convo and just focus on other ones that appeal
I’m afraid that won’t work, this time.
I have no idea what you are doing, but if it's a moderation issue, then moderate. If it's not, then hassling someone new like this is both rude and not great for the site. It also reflects badly on moderation.
No no, Incognito has obviously looked at my email address, matched with a previous account then is using it to needle me. I had no intention of trolling or the like – just wanted to get into some conversation again but, well, I think s/he has made themselves clear.
if it’s a moderation issue, then it needs to be dealt with as moderation not trolling someone.
I’ve had a look at your email and IP address. Email address is fine. IP address is shared with someone else who is currently active on TS. If that’s you using two names, then you cannot do that. Some mods will allow a name change for a good reason, others taking a harder line, but either way you cannot run two names here at the same time.
If there is a different explanation for the same IP address, then please explain. Otherwise, please drop pick one name and stick to it.
Making a note in the back end.
The IP address matches someone else's? That's weird.
Without betraying confidence/someone elses details is the person I share an email address with a long time user here? Because it isn't me – I only have one account but am on a large network.
Unfortunately for you, I’ve now looked more closely at the email address and see it’s similar to someone who’s on a permanent ban because of a long history of trolling and causing problems for moderators by trying to skirt bans. I’m putting you on the ban list again. If you think this is a mistake, then reply and your comment will end up in the back end where I will see it.
At some point lprent will do an amnesty on the permanent bans. At which point I suggest that if you want to comment here you pick one name, stick to it, and keep your head down.
Oh right – sorry it's been so long I had forgotten I was banned. I knew my email would be picked up but hadn't remembered the ban.
That's OK, no amnesty required nor asked for. I'll just do something else with my time.
Enjoy yourself
Have to wonder what sort of training this guy had to deal with such a dangerous situation.
I am not sure what sort of training such businesses offer.
they are usually family run and they work 24/7. My family owned such a business when I was growing up. The work is endless.
your comment does hint at a blame the victim approach. Was that what you were meaning or have I misinterpreted you? My apologies if I have. The blame lies with the a…hole who stabbed the worker to death.
No doubt about where the blame lies but, family owned business or not, employers must provide proper training for staff.
Not saying they didn't but these incidents are more likely not to end in tragedy if the retail worker doesn't resist.
Also could be that he didn't resist and the perpetrator attacked him anyway.
Right, and who do you think should provide the training to the bosses? The police? The military?
Who do you think is equipped in NZ currently to ward off some shitheel with a knife? Would you be trained enough?
The last knife attacker is now in a female prison for attacking three people, inclusive his/their ex girlfriend who will have lasting scars in her face. And these victims simply had the audacity to go to a restaurant for a dinner and thought that was safe in NZ.
My shop girls training is simply.
If you think dudes/ettes outside are shifty, close the door – which we do a lot now a days.
They will have to break the door, and by that time she should be able to get out the back door.
No heroics, no nothing. Just try to get out and not worry about a single thing or a single cent. Money is replacable, a cut up face is for live. IF you can't get away, give them the contents of the till, if they want a coffee to go with that , make that coffee, pack the box of chocolates and wish them a good day. Anything to stay unharmed and alive.
But in fact there is no training that can help you to get a way from someone who just simply has no respect for others, for society or their communities.
What will happen now is that Dairys will arm themselves, will hopefully always have a two people policies – if they don't have for the most part even more CCTV that they already have and if all falters, just shut. Because clearly it onus is on us to keep us alive, the police will come to mop up what is left over if the robbery/raid goes wrong, and of course lay a charge for murder or assault.
If the government is serious about winning the next election, and helping those at risk of being impacted by rising mortgage rates, then the government should change the target inflation range temporarilly to reflect the reality of the economic situation.
Those at risk don't only include mortgage holders. But also likely tenants who may face rent increases to cover increasing mortgage costs incurred by landlords.
If a lot of the inflation is imported, then, that component of inflation will not be affected. So, the only way to bring inflation back within the target band is to basically force NZ into a full-blown recession.
I think the target rate for the next three years should be say 3-5%, which would be much more achievable with a lot less pain.
I was trying to find some data to refute your claim,
which I just don't think is true, at least not to the same scale of increase or remotely close to it. I do note you have couched your claim using the words, "likely", and "may".
There's this GA article from 2014. Best line is first in the comments section,
It is true to the extent that landlords will try to pass on their costs to tenants if they are able to. Of course, market conditions may not allow that. For instance, if there is a glut of houses on the market. So, it isn't given.
Lovely thought, but please explain how you’d ensure employment and price stability at those inflated rates.
Firstly, within a historical context, the inflation rate has been much higher in the past reaching an eye-watering 17% in 1987. So, I am not sure that 3-5% inflation is intolerable for several years, given the extra-ordinary times we have been through, and that the RB did cock things up a bit.
Secondly, adjusting the inflation target range is not without historical precedent. For instance, in 1996 the target range moved from 0-2% to 0-3%.
If we do have a recession, there is no guarantee it will be shallow, and it may cost a lot of jobs. But applying the handbrake a bit slower may allow a lot of jobs to be saved.
You didn’t answer the question, just beating around the bush.
Even if the RB crashes the economy, there still won't be price stability. For instance, we import a lot of stuff as part of my company. Prices have gone up at least 30% from most suppliers over the last several years. There is no sign that imported inflation is going to end any time soon.
What will happen though, in a recession, is a lot of people will lose their jobs, and there will be a lot of hardship that could be avoided by taking a more measured approach to bringing down inflation. It is not the fault of voters that the RB way over-stimulated the economy. Yet they are being expected to take the medicine to fix it.
Someone pays one way or another whether target inflation range stays the same or is increased temporarilly to a more realistic level. That is through either slightly higher prices, but lower interest rates. Or higher interest rates, and slightly lower prices.
One of the understood effects of the OCR tightening is the currency appreciation.There are 2 parts here the appreciation of the US$ as a reserve currency with large reservoirs for liquid assets such as cash,and the differential in the interest rates (with forex risk)
Here with the OCR being largely forecast there has been an appreciation of 10% since the start of oct,against the US$.This in turn reduces the cost of imports along with reducing the freight and insurance component ( freight rates now back to around pre covid)
The question you need to ask your supplier is why the price has not adjusted.
"Increasingly National’s election pitch is simply that they are “not Labour”. But is that really enough during an economic recession? Does National have any policies of substance that might help navigate the current economic crisis? Even if voters punish Labour for mismanaging the economy, there are no signs that they should have confidence that National would do any better."
https://democracyproject.nz/2022/11/24/bryce-edwards-politicians-and-the-reserve-bank-are-being-blamed-for-an-escalating-economic-crisis/?utm_source=rss&utm_medium=rss&utm_campaign=bryce-edwards-politicians-and-the-reserve-bank-are-being-blamed-for-an-escalating-economic-crisis
History would suggest not being the incumbent will be sufficient
When a Government takes from more people than it gives too or does not give enough to those who believe they deserve more then a majority is formed for its demise. The major problem is inflation which takes from many and gives to few – so once the incumbent Government is blamed for "letting inflation get out of control" it is on the way to being toast.
The current Gov may have a lot to answer for but in reality the current economic situation has been little influenced by them, this situation has been building since 2008 , and as is noted in the linked piece that will butter no parsnips for the electorate come next year.
Question: Why the first house price spike 2002-2008?
While looking for something else I saw again the there has been constant and severe house price inflation in NZ for 20 years now, briefly interrupted by the GFC. We know about 2010-2018 (Jong Khee), and 2020-2021 (Covid relief).
Why did the 2002-2008 spike occur? Accelerated immigration? Free trade deal with China? Is it just the cost of open tap neoliberal economics?
I suspect it is, which is why I applaud this government's commitment to managing immigration and foreign capital interference in the residential housing market.
it's also because the Retirement Commissioner spent years telling NZ to invest in property. That alongside the narrative that we couldn't afford superannuation any more and people needed to save for their own retirement. It was very anti-socialist/pro neolib.
Yes, i remember that. And the re-zoning of residential properties/zones to mixed which resulted in many nice villas being turned into offices, dental clinics and the likes. These lost residential houses were never replaced.
There was also the share market collapse in 1987 causing the losses of retirement savings of many, so for some, property probably would at least be worth something, unlike shares which can theoretically become worthless.
I also wonder how much impact Rich Dad, Poor Dad had – the book had more to it than "buy underpriced real estate using leverage", but that was probably the main message people took from it. It was published in 1997 and was a big seller, and I could see that message slowly percolating through to NZ after the 1997 Asian financial crisis as the economy first recovered in 1998-9 and then picked up steam under Labour.
Would you like to produce some evidence to support your last sentence?
I remember a real slump in house prices in 1991. I was overseas for most of 1990 and I remember when I came back giving some serious thought to buying an investment property in early 1991 as there was quite a glut on the market. I did decide not to – which was probably wise.
Can we please get rid of these repulsive commercial American holidays like black friday and thanksgiving? They are not New Zealand.
+1
wait, are people in NZ doing Thanksgiving? (who aren't American)
The big trashy retailers certainly are , and it's repulsive. Likewise Halloween has become a commercial spendfest.
I haven't seen any NZ retailers (not even Costco) advertising Thanksgiving.
OTOH – they're all going full out on Black Friday – and actually some (PB Tech) have been doing Black Friday sales for a month.
The only people in NZ I know who are doing Thanksgiving are transplanted Americans.
The funny thing is that Halloween derives from Hallowed Evening which presumably is the holy evening before All Saints Day on Nov 1st.
the great us-americanisation continues unabated……
Agree. What happened to Black Friday being any Friday that fell on the 13th of the month?
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Engineering a Recession
Those that have shall be given more, and they will have an abundance. But those that do not have, even what they have, will be taken away from them.
Matthew 25:29
Banks made record profits, there was no pandemic for them. Rents, mortgages still had to be paid even under lock down.
To keep up with paying higher interest rates demanded by the banksters. Adrian Orr says the public will have to cut their spending,
Adrian Orr has also linked higher unemployment to job competition as the answer to 'wage inflation'.
Adrian Orr says unemployment must rise, before inflation, (particularly wage inflation) will be brought under control.
Bigger mortgage payments, less wages, more unemployment, more job competition, this is all sweet music to the banksters and bosses.
Listening to the car radio. Newstalk ZB, a representative of the banking community said; Can't meet your new mortgage interest rate. Talk to us. 'We can help. 'We don't want to see you out of your home.' 'We are here for the long haul'. (And so are you).
Bought at the high end of the housing market?
Feeling squeezed between inadequate wage increases and high interest rates?
Go to your local bank manager and beg for mercy like the desperate wretch you are, He will see what he can do for you. Agree to a mortgage holiday, or longer period of payment, he will let you stay in your home to work longer to pay off your mortgage.
The March of the Greedies;
Reserve Bank manager, Adrian Orr. also says government spending must be cut.
(Y'know, health care, education, welfare all that unnecessary stuff that gets in the way of maximising bankster profits).
No one should expect their investment to be underwritten by taxpayers. You are responsible for your own risk more than banks are.
Hindsight won't be kind to this government wasting billions on non-delivered services. Robertson may think the RB is overreacting, but honestly so did Robertson.
The fed minutes last night said they showed a greater then even chance (likely) of recession,.The IIF models forecast recession,so it is an expected outcome from high inflation and the necessary mechanism to curb animal spirits,through the forced extinction of Zombie companies,that take easy capital and transform it into empty pixels such as the removal in value of 2.2 trillion $ in crypto,or the deleveraging of property values.
https://twitter.com/RobinBrooksIIF/status/1595075683298025477?cxt=HHwWioC9zcC47KIsAAAA