I went to see Jeff Rubin speak last night, former Chief Economist of CIBC World Markets and now author of a number of books on peak oil and the end of growth. http://www.jeffrubinssmallerworld.com/
His basic premise is this: zero growth is the new global norm. This does not bode well for the recent budget forecasts. I think it is a pretty safe bet that New Zealand will not be in surplus by the next election.
He also predicts that we are at the beginning of a recession worse than the 2008 GFC and that Greece will default within 4-5 months with Italy, Portugal and Spain not far behind.
Great. Thanks for this. I see Rubin’s policy suggestions differ from some of the ways he sees things developing, if they are left unchecked.
e.g. He sees a trend to government contracting out work. This may be cheaper, but, it is not the most effective way to get work done. It lowers the quality and the pay of workers, while the private companies cream off profits.
Rubin also sees the trend going towards young people staying at home longer & people working til an older age. This could mean less work for younger people. However, Rubin’s policy solution is for more job share.
For myself, I plan to keep working as long as I can. But, now in my early 60s, I have shifted to part time work, and in an alternative occupation from my (previous) main career. This job pays less, and I have less responsibilities. But I live frugally so can live OK on my income. I also work weekends (the relatively unsociable hours that are least favoured by younger people with families or lively social lives).
However, one thing I would suggest as a policy for older workers, is more consideration of the requirements to making such transitions. In my case the in-service training development is focused more on career development for younger workers, via uni degrees (I already have a string of these, and in many ways am over-qualified for my current work). For older workers, there should be more focus on recognising transferable skills, and targeting inservice training/education on specific requirements of the current job.
Of course, contracting out is not actually “cheaper” if the quality and service you get in return is also cheaper.
Classic example are our defence forces catering services which have been contracted out. Cheaper is what it looks like, but you also get what you pay for less the private sector profit margin and higher financing costs.
Contracting out is certainly not cheaper here are some reasons why.
1: Govts are obliged to take the lowest tender….too bad if it turns out to be more expensive, as they don’t treat business case, or benefit realizations as living documents over the life of the transition.
2: Govts are deliberately poor at commercial contracts, and have a history of being miliked, with inside help from “public servants”.
3: Contracting out = Kiwis out of work = additional social costs which become exponential
4: Contracting out means that (most) likely, profits flow offshore, the profit has to be created out of the contract elsewhere, loweer wages, less staff, worse quality….We all pay for that one way or another.
Nice one SL, been a fan of Jeff for ages. His delightful phlegmatic delivery of crucial information in that wonderful Canadian drawl effectively make those who want to continue to prop up the clearly unsustainable look like they’ve missed a dose of their meds.
Thanks. Interesting material here with lots to think about.
Even if New Zealand is in surplus by next election, will that be reason for Government gloating? Fine to have a sound economy whilst we have a population in misery.
From today’s Herald, John Key revealing what I believe is one of his main reasons for returning to New Zealand for the PM gig:
He also said that if you were shopping for countries, New Zealand would be a good prospect.
“If you were really going to go out and buy a country, why wouldn’t you want to buy New Zealand?
“Would you really want these other countries that are highly indebted, have hugely inflexible and inefficient systems, don’t have the natural resources that we have, don’t have the potential that we have.”
I’m sure he will be richly rewarded by our owners to-be.
You’d think it would be unwise for Key to publicly associate himself with the idea of “buying” NZ. Do I see another cutesy photo-feature of the Key family (maybe at the beach) in a women’s magazine, in the near future?
This will become a part of the bigger picture that is emerging, especially if it is successfully exploited as such by the opposition.
Indeed those comments are a genuine attempt for Key inform people the real agenda, I would like to say that it might be attached to guilt, but that is not an emotion which people with psycopathic tendancies have, so I am going with brazen honesty..
Key is capable of telling the truth about the big picture as he has here, but then will lie openly when covering up the little links in the journey to that same big picture, as a way to try throw people off the trail.
This is a facinating insight, and I would hope that those in the public who still think Key is doing a good job, are paying attention to such statements as they are not throw aways!
Government will increasingly contract out services to private companies who can provide services at a cheaper rate in an effort to decrease government spending.
Ha, no they can’t. That’s one of the lies that this government and others have used for privatisation since the 1970s.
An excellent Kim Hill interview with Prof. Steven Keen on Radio NZ this morning. He’s a difficult subject to interview because he’s got so much information to convey and tends to come across as a little arrogant about it.. but Kim manages pretty well I thought. The essentials of Keen’s thinking are all there… plus few new ones I haven’t read lately.
Totally agree Red. I am not Economics literate but Steven Keen makes a great deal of sense. Perhaps our Financial Leaders should be forced to listen?
His point about banks enticing more people to borrow huge amounts in relation to their own stake which causes the Private Debt bubble to blow up, – again. Decades ago if you had $30,000 you could borrow $100,000 for your house. Again now, your $30,000 can let you borrow as much as $1,000,000. Banks want you to.
Crafar farms anyone? Inflated house prices?
We need to listen to and support economists which aren’t trapped in the cosy bank-sponsored neoliberal paradigm of the world.
Which is pretty difficult since virtually every economics department in the world is still teaching their undergrads demonstrably incorrect shit about “Value At Risk” analysis, the inter-changeability of savings, debt and money, and price/supply/demand curves.
Basically modern orthodox economics is dangerously over-financialised and false.
Thats right ianmac, it is exactly how banks, being at the center of the problem, inflating the debt (monetary) supply out of thin air, but with the consequence, that once the house of cards falls, the debt holder gets to own all the hard assets, and force the sale of those which is does not own…
And thats really just the retail banking sector interface you refer…of course behind those learly coloured banking stores lurks the casino banking cartels…
I wonder how long it will be before that $112 Billion, becomes an “official” problem..
Interesting interview, mainly Keen talking. Ultimately he proposes a kind of tinkering right up close to the inevitable line that will have to be crossed, eventually, if humanity really wants to begin addressing inequalities in society caused through the limitations of economics. His solution will certainly be palatable to many. A bit like voting Labour over National: same end, different speeds, one more ocmfortable than the other and the seats have cup holders. The admission that it is the gentle approach to major change is spelled out at the end, where both he and Hill unsurprisingly arrive at the Marxist conclusion as self evident.
The other problem with his scheme involves his focus on using it to attend to house prices (a specifically irrational NZ issue for the middle classes, why I don’t know, something to do with uncertain/irreconcilable moral values) in which he comes close to making the same mistake as neo-classical economic thinking, in that they assume the financial activites of an indivdual extrapolated how many times equal the activities of a society.
Keen says the amount of borrowing should be limited by a person’s level of savings, but forgets that (does he forget? Why did he not clarify?) businesses would be obliged to use the same model, and that a system that overnight abolishes our current blank cheque leverage lending idea, would make it impossible for construction firms – mainly smallish firms – to meet the ideal of a “middle income home” worth 2-2.5 times the median income. Not only would their formation become restricted, but sourcing materials cheap enough would risk either impossibility or the trap of monopoly. There are too many unexplained practicalities of building the utopian house. He often blends morals and values with economics, but he makes no attempt to understand why such a house would be required or even if the problem would still exist by the time his system began to function. It seemed like he was trying to sell his idea to specific group of people, who had no idea about the application discussed, but held some common and unexamined values and ideals about life. Man’s got to eat, I suppose. But who’ll pay the bill?
This idea wasn’t tagged onto his comments about allowing government lending to catch up to bank lending, so I have no idea if he thought the government would become the owner of construction firms. This idea seemed purely theoretical to me, it wasn’t explained, or at least it was explained within a vacuum; like calculating on paper how far a new type of aircraft with round section wings could travel in a 30 Knot headwind before the first protoype had been built.
Definitely worth a listen, overall, for an excellent explanation of effects of neo vs. classical economics, but there are some holes that are not explained. If anyone here can fill them in, I’d appreciate it.
businesses would be obliged to use the same model, and that a system that overnight abolishes our current blank cheque leverage lending idea, would make it impossible for construction firms – mainly smallish firms – to meet the ideal of a “middle income home” worth 2-2.5 times the median income.
Agree, that ideal ratio is not going to be achievable any time soon.
I personally don’t see why a quality (albeit modest) 3 bedroom house can’t be built for $200,000 plus land if private sector profit taking was set aside, and highly common plans and materials used. Plus centralised bulk purchasing of course. In other words, state housing, built by the state.
• allowed queues of up to 90 patients at a time to build up at its telephone helpline;
• met its targets, in part, by adjusting figures to blame delays on patients;
• rang at least one patient who had waited too long to see a doctor to give them a new waiting target instead;
• repeatedly took visiting doctors off roving duties in order to operate clinics and hotlines because it had too few staff on duty to cover the county.
And who was this font of capitalist efficiency? None other than Serco – the people this government just hired to do prisons for us which is having difficulty meeting targets.
The Serious Fraud Office last night said it might yet make its own inquiry into how William Yan – also known as Yang Liu and Yong Ming Yan – was granted citizenship.
Hardly a surprising considering this from an internal affairs official:
During the High Court trial, a Department of Internal Affairs official said Mr Yan was confident of gaining citizenship because of support from MPs such as Labour’s Dover Samuels. “He was so anxious that we send the files to the minister. He just wanted the file to go to the minister,” said Johannes Gambo, an Internal Affairs case officer in Auckland.
Mr Gambo wanted to make further inquiries with immigration authorities in Australia. “I had a phone call that I was told not to ask any more questions because there was a lot of political pressure to send the file to Wellington. I was told to just process the file, send it to Wellington, don’t worry about asking any more questions.”
This case must be like a Jaws movie for Labour. “Just when you thought it was safe to go back into the water…”
I read that TS and couldn’t quite see what the problem is. While the system allows for Ministerial intervention, then cases will be referred onwards.
Funny that the SFO might express an interest given that they usually are only involved with sums over $200,000. Don’t think that Mr Jones was offered or given any financial gain nor anyone involved with Mr Yan. The agent who acted for him charged $10,000 which is presumably the going fee.
The problem is, ianmac, that this guy had serious unanswered questions about him, yet there still appeared to be a rush to get his citizenship approved at a political level. And there was no need for the rush, because the guy had residency, so couldn’t be sent back to China anyway.
You are correct about the SFO being only interested in cases exceeding $200k. So, perhaps they could be interested because they are aware of information that hasn’t hit the media yet?
Its been reported that yan/liu dropped upward on $10 mil at sky city and if he could afford to throw away that kinda coin who knows what he threw at Samuels/Jones/Labour.
Good to see also that it has been confirmed that there is no “note” supporting the Jones claim that he would be killed and chopped up for spare parts.
Yan was one of SkyCity casino’s biggest gamblers where he was considered to be volatile. The Department of Internal Affairs (DIA) said in 2009 that he was “one of a number of gamblers of significance whom the department has discussed [with] SkyCity”.
The police have investigated Yan’s activities. No charges have been laid.
The Serious Fraud Office this week told the Attorney-General it is interested in any information relevant to its role that may come to light if an inquiry goes ahead. SFO boss Adam Feeley said he would not rule out starting his own inquiry.
[…]
A DIA official told him Yan would be executed and his organs harvested if he returned to China. Jones therefore approved citizenship on humanitarian grounds. The DIA has nothing on record to indicate that advice was given but Shane Jones believes he took a note of it and is trying to find it.
I think the only requirement is that they not make their bigotry so obvious. Not to mention their incompetence. The only question I have is how many drinks he’s been shouted at the Northern Club since his travesty of justice.
Um, just out of curiosity, how do you manage to get “the dog whistle of terrorism” from “But I regard it as highly relevant that the offending was not gang-related or associated with what I might call ‘conventional’ avenues of criminal activity. On the contrary, it occurred in pursuit of a worthy ideal and, perhaps most significantly, involved only a remote risk that it would lead to crimes of violence.”?
When you say the charges are unprecedented, what exactly are you comparing them too as I can’t recall any similar examples? If you compare it to the case of Bernard Shapiro in Christchurch, the judge held that “the offences were technical breaches in which Shapiro had exercised poor judgment, had been taken advantage of by a friend, and had relied on advice which proved to be not entirely accurate, from an arms dealer.” However, he was an a sole actor and had a clean record. Tame Iti had that previous weapons charge from 2005, which would have counted against him in sentencing. Ten firearms charges is not insignificant.
I’m not saying an investigation isn’t called for, but the ridiculous terrorism charges had already been dismissed so I fail to see the relevance to the current sentence. To harp on about the terrorism canard doesn’t help matters in the slightest. I have my doubts as to whether prison and not community service was the right option. I agree with Auckland University law professor Bill Hodge that “I think there was a serious issue there. You don’t demonstrate with molotov cocktails. On the other hand, was there overcharging, was there overkill, was that a sledgehammer? I think there’s an element of overkill.”
I wonder what you would be saying if it had been Kyle Chapman and mates running around with sawn-off rifles, semi-automatics and Molotov cocktails? Also defence lawyer Russell Fairbrother’s assertion “What Tuhoe do is their business. We’ve got to stop judging other people by our standards.” strikes me as patronising. It suggests that Maori belong in a category not responsible for their actions along with children and the mentally ill. Maori are modern people with modern lives in a modern world. Misuse of firearms is a serious issue and if someone had gotten hurt or killed because of a bunch of overgrown kids playing sillybuggers, we would be having a very different conversation. </end cathartic rant>
I’m comparing them to similar cases Populuxe1. For example where somebody is caught with Molotove cocktails and premeditation of a crime is proven but not undertaken, they recieve less than a year. Most offenses concerning unregistered firearms receive a warning.
So while Hansen says he thinks there’s only a remote risk that the training would lead to crimes of violence, he hands down a sentence that is completely disproportionate to that contention, leaving myself and many other commentators to think that he’s been listening to the dog whistle that continues to be promoted by the police.
Let’s take another example where Cameron Slater publishes material calling for somebody to be gut shot, is known to have a mental illness, weapons and a large cashe of ammunition… but the police don’t even bother to question the hate monger. Do you not see the disproportionate treatment certain people get over others?
You quote Bill Hodge who says that people don’t demonstrate with Molotov cocktails, however sometimes they do. In this case it’s spurious to say that the Urewera four were using Molotov cocktails at all. There is no clear evidence linking them to what the police claim were Molotov cocktails. These so-called “restricted weapons” were not even taken off private land were they?
You then make a link between what was occurring in the Urewera’s and what white supremacist groups undertake all the time. The disproportionate focus on Maori in comparison to white supremacists couldn’t be starker. It shows an endemic racism within not just the police force, but policy makers as well.
Also defence lawyer Russell Fairbrother’s assertion “What Tuhoe do is their business. We’ve got to stop judging other people by our standards.” strikes me as patronising. It suggests that Maori belong in a category not responsible for their actions along with children and the mentally ill.
It does not! It suggest there is some truth to the argument that Tuhoe is a sovereign nation that has never signed its right over to invading forces. Where on earth you got “children and the mentally ill” from is what is patronizing. Fairbrother also raises the issue of what private land actually is. Now that a retrospective law change has allowed the police unfettered access to spy on people no matter where they are, his statement is even more pertinent.
Misuse of firearms is a serious issue and if someone had gotten hurt or killed because of a bunch of overgrown kids playing sillybuggers, we would be having a very different conversation.
I couldn’t agree more. In fact I’ve written extensively on the subject… but the point you seem incapable of fathoming is that nobody was hurt, the crowns case was largely based on speculation and the sentences handed down were unprecedented in such circumstances. There are serious grounds for an appeal here, and I wont be surprised when Hansen’s prejudiced decisions are overturned.
14. When the statements are considered in context, a reasonable reader would assume they are referring to Maori as a race rather than to just the protesters at Waitangi.
While there may be truth in the “hopeless failure” of some Maori to educate their children and stop bashing their babies, it is inaccurate to make the allegation against Maori as a race.
15. The inaccuracies upon which some of the opinions are based also make the opinions so extreme that in the Council’s view they go beyond what is acceptable and become a gratuitous offence to Maori as a race.
16. It is because the allegations against Maori as a race are inaccurate, and the opinions are extreme to the extent of being a gratuitous offence to Maori, that the complaints are upheld.
It’s interesting that the Herald also reports that their readership has increased dramatically, which is one of the main reasons they publish such articles. It causes a scandal and people therefore buy more papers and visit the Herald website more, which means they can sell more advertising… have you seen how much advertising is in the Herald these days?
Unless there are some real financial disincentives to promoting such racist claptrap, we will continue to see similar bigoted and inaccurate articles being published.
Lifestyle Creep; peoples lifestyles being led by MARKETEERS for PROFIT.
Committing people and families to PAYMENT PLANS and DEBT
DEBT
DEBT. Follows around like a bad smell.
An ongoing CASH-COW for the corporate level and WANNABEES elite.
THINKING STUDENTS reference to Foucaults analyses of POWER DISCIPLINE PUNISHMENT
EXCELLENT analysis and synthesis there.
Great Work.
Liberal Studies at unis being CUT first.
RODD CARR, what a small-minded man.
Axe any Philosophy courses that direct one away from Utilitarianism?
Watch the mass-produced cohorts of non-utility “professionals” and their addiction to credentialism flee with the neglected productive classes.
Paul Thomas seems like a poor historicist apologist shoeshine boy.
IF one is aged between 30 AND 47 years of age and existentially relaxed, they are most able to challenge and modify the values beliefs and attitudes of the OLDER GENERATION who could know better.
DAVID PARKER.Not growth, ASIAN INVESTMENT in INFRASTRUCTURE.
EMPLOYMENT, of greater value to a LABOUR representative. Or give the portfolio to That Cunliffe chap.
The failed free-market ideology that National blindly follows and greedy multinational’s are just as much to blame as those hapless idiots Captain Mauro Balomaga and navigational officer Leonil Relon who piloted the MV Rena into the Astrolabe reef…
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Jokerman dance to the nightingale tuneBird fly high by the light of the moonOh, oh, oh, JokermanSong by Bob Dylan.Morena folks, I hope this fine morning of the 7th of February finds you well. We're still close to Paihia, just a short drive out of town. Below is the view ...
It’s been an eventful week as always, so here’s a few things that we have found interesting. We also hope everyone had a happy and relaxing Waitangi Day! This week in Greater Auckland We’re still running on summer time, but provided two chewy posts: On Tuesday, a guest ...
Queuing on Queen St: the Government is set to announce another apparently splashy growth policy on Sunday of offering residence visas to wealthy migrants. Photo: Lynn Grieveson / The KākāLong stories short, the top six things in our political economy around housing, climate and poverty on Friday, February 7:PM Christopher ...
The fact that Waitangi ended up being such a low-key affair may mark it out as one of the most significant Waitangi Days in recent years. A group of women draped in “Toitu Te Tiriti” banners who turned their backs on the politicians’ powhiri was about as rough as it ...
Hi,This week’s Flightless Bird episode was about “fake seizure guy” — a Melbourne man who fakes seizures in order to get members of the public to sit on him.The audio documentary (which I have included in this newsletter in case you don’t listen to Flightless Bird) built on reporting first ...
This is a re-post from Yale Climate Connections by Karin Kirk The 119th Congress comes with a price tag. The oil and gas industry gave about $24 million in campaign contributions to the members of the U.S. House and Senate expected to be sworn in January 3, 2025, according to a ...
Early morning, the shadows still long, but you can already feel the warmth building. Our motel was across the road from the historic homestead where Henry Williams' family lived. The evening before, we wandered around the gardens, reading the plaques and enjoying the close proximity to the history of the ...
Thanks folks for your feedback, votes and comments this week. I’ll be making the changes soon. Appreciate all your emails, comments and subscriptions too. I know your time is valuable - muchas gracias.A lot is happening both here and around the world - so I want to provide a snippets ...
Data released today by Statistics NZ shows that unemployment rose to 5.1%, with 33,000 more people out of work than last year said NZCTU Te Kauae Kaimahi Economist Craig Renney. “The latest data shows that employment fell in Aotearoa at its fastest rate since the GFC. Unemployment rose in 8 ...
The December labour market statistics have been released, showing yet another increase in unemployment. There are now 156,000 unemployed - 34,000 more than when National took office. And having thrown all these people out of work, National is doubling down on cruelty. Because being vicious will somehow magically create the ...
Boarded up homes in Kilbirnie, where work on a planned development was halted. Photo: Lynn Grieveson / The KākāLong stories short, the top six things in our political economy around housing, climate and poverty on Wednesday, February 5 are;Housing Minister Chris Bishop yesterday announcedKāinga Ora would be stripped of ...
This week Kiwirail and Auckland Transport were celebrating the completion of the summer rail works that had the network shut or for over a month and the start of electric trains to Pukekohe. First up, here’s parts of the press release about the shutdown works. Passengers boarding trains in Auckland ...
Through its austerity measures, the coalition government has engineered a rise in unemployment in order to reduce inflation while – simultaneously – cracking down harder and harder on the people thrown out of work by its own policies. To that end, Social Development Minister Louise Upston this week added two ...
This year, we've seen a radical, white supremacist government ignoring its Tiriti obligations, refusing to consult with Māori, and even trying to legislatively abrogate te Tiriti o Waitangi. When it was criticised by the Waitangi Tribunal, the government sabotaged that body, replacing its legal and historical experts with corporate shills, ...
Poor old democracy, it really is in a sorry state. It would be easy to put all the blame on the vandals and tyrants presently trashing the White House, but this has been years in the making. It begins with Margaret Thatcher and Ronald Reagan and the spirit of Gordon ...
The new school lunches came in this week, and they were absolutely scrumptious.I had some, and even though Connor said his tasted like “stodge” and gave him a sore tummy, I myself loved it!Look at the photos - I knew Mr Seymour wouldn’t lie when he told us last year:"It ...
The tighter sanctions are modelled on ones used in Britain, which did push people off ‘the dole’, but didn’t increase the number of workers, and which evidence has repeatedly shown don’t work. Photo: Lynn Grieveson / The KākāLong stories short, the top six things in our political economy around housing, ...
Catching you up on the morning’s global news and a quick look at the parallels -GLOBALTariffs are backSharemarkets in the US, UK and Europe have “plunged” in response to Trump’s tariffs. And while Mexico has won a one month reprieve, Canada and China will see their respective 25% and 10% ...
This post by Nicolas Reid was originally published on Linked in. It is republished here with permission. Gondolas are often in the news, with manufacturers of ropeway systems proposing them as a modern option for mass transit systems in New Zealand. However, like every next big thing in transport, it’s hard ...
This is a re-post from The Climate BrinkBoth 2023 and 2024 were exceptionally warm years, at just below and above 1.5C relative to preindustrial in the WMO composite of surface temperature records, respectively. While we are still working to assess the full set of drivers of this warmth, it is clear that ...
Hi,I woke up feeling nervous this morning, realising that this weekend Flightless Bird is going to do it’s first ever live show. We’re heading to a sold out (!) show in Seattle to test the format out in front of an audience. If it works, we’ll do more. I want ...
From the United-For-Now States of America comes the thrilling news that a New Zealander may be at the very heart of the current coup. Punching above our weight on the world stage once more! Wait, you may be asking, what New Zealander? I speak of Peter Thiel, made street legal ...
Even Stevens: Over the 33 years between 1990 and 2023 (and allowing for the aberrant 2020 result) the average level of support enjoyed by the Left and Right blocs, at roughly 44.5 percent each, turns out to be, as near as dammit, identical.WORLDWIDE, THE PARTIES of the Left are presented ...
Back in 2023, a "prominent political figure" went on trial for historic sex offences. But we weren't allowed to know who they were or what political party they were "prominent" in, because it might affect the way we voted. At the time, I said that this was untenable; it was ...
I'm going, I'm goingWhere the water tastes like wineI'm going where the water tastes like wineWe can jump in the waterStay drunk all the timeI'm gonna leave this city, got to get awayI'm gonna leave this city, got to get awayAll this fussing and fighting, man, you know I sure ...
Waitangi Day is a time to honour Te Tiriti o Waitangi and stand together for a just and fair Aotearoa. Across the motu, communities are gathering to reflect, kōrero, and take action for a future built on equity and tino rangatiratanga. From dawn ceremonies to whānau-friendly events, there are ...
Subscribe to Mountain Tūī ! Where you too can learn about exciting things from a flying bird! Tweet.Yes - I absolutely suck at marketing. It’s a fact.But first -My question to all readers is:How should I set up the Substack model?It’s been something I’ve been meaning to ask since November ...
Here’s the key news, commentary, reports and debate around Aotearoa’s political economy on politics and in the week to Feb 3:PM Christopher Luxon began 2025’s first day of Parliament last Tuesday by carrying on where left off in 2024, letting National’s junior coalition partner set the political agenda and dragging ...
Half of Pacific children sometimes going without food is just one of many heartbreaking lowlights in the Salvation Army’s annual State of the Nation report. ...
The Salvation Army’s State of the Nation report is a bleak indictment on the failure of Government to take steps to end poverty, with those on benefits, including their children, hit hardest. ...
New Zealand First has today introduced a Member’s Bill which would restore decision-making power to local communities regarding the fluoridation of drinking water. The ‘Fluoridation (Referendum) Legislation Bill’ seeks to repeal the Health (Fluoridation of Drinking Water) Amendment Act 2021 that granted centralised authority to the Direct General of Health ...
New Zealand First has introduced a Member’s Bill aimed at preventing banks from refusing their services to businesses because of the current “Environmental, Social, and Governance (ESG) Framework”. “This Bill ensures fairness and prevents ESG standards from perpetuating woke ideology in the banking sector being driven by unelected, globalist, climate ...
Erica Stanford has reached peak shortsightedness if today’s announcement is anything to go by, picking apart immigration settings piece by piece to the detriment of the New Zealand economy. ...
Our originating document, theTreaty of Waitangi, was signed on February 6, 1840. An agreement between Māori and the British Crown. Initially inked by Ngā Puhi in Waitangi, further signatures were added as it travelled south. The intention was to establish a colony with the cession of sovereignty to the Crown, ...
Te Whatu Ora Chief Executive Margie Apa leaving her job four months early is another symptom of this government’s failure to deliver healthcare for New Zealanders. ...
The Green Party is calling for the Prime Minister to show leadership and be unequivocal about Aotearoa New Zealand’s opposition to a proposal by the US President to remove Palestinians from Gaza. ...
The latest unemployment figures reveal that job losses are hitting Māori and Pacific people especially hard, with Māori unemployment reaching a staggering 9.7% for the December 2024 quarter and Pasifika unemployment reaching 10.5%. ...
Waitangi 2025: Waitangi Day must be community and not politically driven - Shane Jones Our originating document, theTreaty of Waitangi, was signed on February 6, 1840. An agreement between Māori and the British Crown. Initially inked by Ngā Puhi in Waitangi, further signatures were added as it travelled south. ...
Despite being confronted every day with people in genuine need being stopped from accessing emergency housing – National still won’t commit to building more public houses. ...
The Green Party says the Government is giving up on growing the country’s public housing stock, despite overwhelming evidence that we need more affordable houses to solve the housing crisis. ...
Before any thoughts of the New Year and what lies ahead could even be contemplated, New Zealand reeled with the tragedy of Senior Sergeant Lyn Fleming losing her life. For over 38 years she had faithfully served as a front-line Police officer. Working alongside her was Senior Sergeant Adam Ramsay ...
Green Party co-leader Marama Davidson will return to politics at Waitangi on Monday the 3rd of February where she will hold a stand up with fellow co-leader Chlöe Swarbrick. ...
Te Pāti Māori is appalled by the government's blatant mishandling of the school lunch programme. David Seymour’s ‘cost-saving’ measures have left tamariki across Aotearoa with unidentifiable meals, causing distress and outrage among parents and communities alike. “What’s the difference between providing inedible food, and providing no food at all?” Said ...
The Government is doubling down on outdated and volatile fossil fuels, showing how shortsighted and destructive their policies are for working New Zealanders. ...
Green Party MP Steve Abel this morning joined Coromandel locals in Waihi to condemn new mining plans announced by Shane Jones in the pit of the town’s Australian-owned Gold mine. ...
The Green Party is calling on the Government to strengthen its just-announced 2030-2035 Nationally Determined Contribution (NDC) under the Paris Agreement and address its woeful lack of commitment to climate security. ...
Today marks a historic moment for Taranaki iwi with the passing of the Te Pire Whakatupua mō Te Kāhui Tupua/Taranaki Maunga Collective Redress Bill in Parliament. "Today, we stand together as descendants of Taranaki, and our tūpuna, Taranaki Maunga, is now formally acknowledged by the law as a living tūpuna. ...
Labour is relieved to see Children’s Minister Karen Chhour has woken up to reality and reversed her government’s terrible decisions to cut funding from frontline service providers – temporarily. ...
It is the first week of David Seymour’s school lunch programme and already social media reports are circulating of revolting meals, late deliveries, and mislabelled packaging. ...
The Green Party says that with no-cause evictions returning from today, the move to allow landlords to end tenancies without reason plunges renters, and particularly families who rent, into insecurity and stress. ...
The Government’s move to increase speed limits substantially on dozens of stretches of rural and often undivided highways will result in more serious harm. ...
In her first announcement as Economic Growth Minister, Nicola Willis chose to loosen restrictions for digital nomads from other countries, rather than focus on everyday Kiwis. ...
The Government’s commitment to get New Zealand’s roads back on track is delivering strong results, with around 98 per cent of potholes on state highways repaired within 24 hours of identification every month since targets were introduced, Transport Minister Chris Bishop says. “Increasing productivity to help rebuild our economy is ...
The former Cadbury factory will be the site of the Inpatient Building for the new Dunedin Hospital and Health Minister Simeon Brown says actions have been taken to get the cost overruns under control. “Today I am giving the people of Dunedin certainty that we will build the new Dunedin ...
From today, Plunket in Whāngarei will be offering childhood immunisations – the first of up to 27 sites nationwide, Health Minister Simeon Brown says. The investment of $1 million into the pilot, announced in October 2024, was made possible due to the Government’s record $16.68 billion investment in health. It ...
New Zealand’s strong commitment to the rights of disabled people has continued with the response to an important United Nations report, Disability Issues Minister Louise Upston has announced. Of the 63 concluding observations of the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD), 47 will be progressed ...
Resources Minister Shane Jones has launched New Zealand’s national Minerals Strategy and Critical Minerals List, documents that lay a strategic and enduring path for the mineral sector, with the aim of doubling exports to $3 billion by 2035. Mr Jones released the documents, which present the Coalition Government’s transformative vision ...
Firstly I want to thank OceanaGold for hosting our event today. Your operation at Waihi is impressive. I want to acknowledge local MP Scott Simpson, local government dignitaries, community stakeholders and all of you who have gathered here today. It’s a privilege to welcome you to the launch of the ...
Racing Minister, Winston Peters has announced the Government is preparing public consultation on GST policy proposals which would make the New Zealand racing industry more competitive. “The racing industry makes an important economic contribution. New Zealand thoroughbreds are in demand overseas as racehorses and for breeding. The domestic thoroughbred industry ...
Business confidence remains very high and shows the economy is on track to improve, Economic Growth Minister Nicola Willis says. “The latest ANZ Business Outlook survey, released yesterday, shows business confidence and expected own activity are ‘still both very high’.” The survey reports business confidence fell eight points to +54 ...
Enabling works have begun this week on an expanded radiology unit at Hawke’s Bay Fallen Soldiers’ Memorial Hospital which will double CT scanning capacity in Hawke’s Bay to ensure more locals can benefit from access to timely, quality healthcare, Health Minister Simeon Brown says. This investment of $29.3m in the ...
The Government has today announced New Zealand’s second international climate target under the Paris Agreement, Climate Change Minister Simon Watts says. New Zealand will reduce emissions by 51 to 55 per cent compared to 2005 levels, by 2035. “We have worked hard to set a target that is both ambitious ...
Nine years of negotiations between the Crown and iwi of Taranaki have concluded following Te Pire Whakatupua mō Te Kāhui Tupua/the Taranaki Maunga Collective Redress Bill passing its third reading in Parliament today, Treaty Negotiations Minister Paul Goldsmith says. “This Bill addresses the historical grievances endured by the eight iwi ...
As schools start back for 2025, there will be a relentless focus on teaching the basics brilliantly so all Kiwi kids grow up with the knowledge, skills and competencies needed to grow the New Zealand of the future, Education Minister Erica Stanford says. “A world-leading education system is a key ...
Housing Minister Chris Bishop and Associate Agriculture Minister Mark Patterson have welcomed Kāinga Ora’s decision to re-open its tender for carpets to allow wool carpet suppliers to bid. “In 2024 Kāinga Ora issued requests for tender (RFTs) seeking bids from suppliers to carpet their properties,” Mr Bishop says. “As part ...
Associate Education Minister David Seymour has today visited Otahuhu College where the new school lunch programme has served up healthy lunches to students in the first days of the school year. “As schools open in 2025, the programme will deliver nutritious meals to around 242,000 students, every school day. On ...
Minister for Children Karen Chhour has intervened in Oranga Tamariki’s review of social service provider contracts to ensure Barnardos can continue to deliver its 0800 What’s Up hotline. “When I found out about the potential impact to this service, I asked Oranga Tamariki for an explanation. Based on the information ...
A bill to make revenue collection on imported and exported goods fairer and more effective had its first reading in Parliament, Customs Minister Casey Costello said today. “The Customs (Levies and Other Matters) Amendment Bill modernises the way in which Customs can recover the costs of services that are needed ...
Minister of Internal Affairs Brooke van Velden says the Department of Internal Affairs [the Department] has achieved significant progress in completing applications for New Zealand citizenship. “December 2024 saw the Department complete 5,661 citizenship applications, the most for any month in 2024. This is a 54 per cent increase compared ...
Reversals to Labour’s blanket speed limit reductions begin tonight and will be in place by 1 July, says Minister of Transport Chris Bishop. “The previous government was obsessed with slowing New Zealanders down by imposing illogical and untargeted speed limit reductions on state highways and local roads. “National campaigned on ...
Finance Minister Nicola Willis has announced Budget 2025 – the Growth Budget - will be delivered on Thursday 22 May. “This year’s Budget will drive forward the Government’s plan to grow our economy to improve the incomes of New Zealanders now and in the years ahead. “Budget 2025 will build ...
For the Government, 2025 will bring a relentless focus on unleashing the growth we need to lift incomes, strengthen local businesses and create opportunity. Prime Minister Christopher Luxon today laid out the Government’s growth agenda in his Statement to Parliament. “Just over a year ago this Government was elected by ...
Associate Education Minister David Seymour welcomes students back to school with a call to raise attendance from last year. “The Government encourages all students to attend school every day because there is a clear connection between being present at school and setting yourself up for a bright future,” says Mr ...
The Government is relaxing visitor visa requirements to allow tourists to work remotely while visiting New Zealand, Economic Growth Minister Nicola Willis, Immigration Minister Erica Stanford and Tourism Minister Louise Upston say. “The change is part of the Government’s plan to unlock New Zealand’s potential by shifting the country onto ...
The opening of Kāinga Ora’s development of 134 homes in Epuni, Lower Hutt will provide much-needed social housing for Hutt families, Housing Minister Chris Bishop says. “I’ve been a strong advocate for social housing on Kāinga Ora’s Epuni site ever since the old earthquake-prone housing was demolished in 2015. I ...
Trade and Investment Minister Todd McClay will travel to Australia today for meetings with Australian Trade Minister, Senator Don Farrell, and the Australia New Zealand Leadership Forum (ANZLF). Mr McClay recently hosted Minister Farrell in Rotorua for the annual Closer Economic Relations (CER) Trade Ministers’ meeting, where ANZLF presented on ...
A new monthly podiatry clinic has been launched today in Wairoa and will bring a much-needed service closer to home for the Wairoa community, Health Minister Simeon Brown says.“Health New Zealand has been successful in securing a podiatrist until the end of June this year to meet the needs of ...
The Judicial Conduct Commissioner has recommended a Judicial Conduct Panel be established to inquire into and report on the alleged conduct of acting District Court Judge Ema Aitken in an incident last November, Attorney-General Judith Collins said today. “I referred the matter of Judge Aitken’s alleged conduct during an incident ...
Students who need extra help with maths are set to benefit from a targeted acceleration programme that will give them more confidence in the classroom, Education Minister Erica Stanford says. “Last year, significant numbers of students did not meet the foundational literacy and numeracy level required to gain NCEA. To ...
Foreign Affairs Minister Winston Peters has announced three new diplomatic appointments. “Our diplomats play an important role in ensuring New Zealand’s interests are maintained and enhanced across the world,” Mr Peters says. “It is a pleasure to announce the appointment of these senior diplomats from the Ministry of Foreign Affairs and ...
Ki te kahore he whakakitenga, ka ngaro te Iwi – without a vision, the people will perish. The Government has achieved its target to reduce the number of households in emergency housing motels by 75 per cent five years early, Associate Housing Minister Tama Potaka says. The number of households ...
The opening of Palmerston North’s biggest social housing development will have a significant impact for whānau in need of safe, warm, dry housing, Associate Housing Minister Tama Potaka says. The minister visited the development today at North Street where a total of 50 two, three, and four-bedroom homes plus a ...
Report by Dr David Robie – Café Pacific. – The United States shares the pathologies of all dying empires with their mixture of buffoonery, rampant corruption, military fiascos, economic collapse and savage state repression.ANALYSIS: By Chris Hedges The billionaires, Christian fascists, grifters, psychopaths, imbeciles, narcissists and deviants who ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The Albanese government has secured bipartisan support for a major new regime covering political donations and spending, after making significant concessions. The government agreed to increase the proposed threshold above which donations must be disclosed ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra With the election only months away, the Labor government finds itself suddenly battling with the Trump administration for an exemption from new US tariffs on steel and aluminium. The opposition has supported the effort, but ...
Source: The Conversation (Au and NZ) – By Julee McDonagh, Senior Research Fellow of Frailty Research, University of Wollongong PeopleImages.com – Yuri A/Shutterstock Ageing is a normal part of the life course. It doesn’t matter how many green smoothies you drink, or how many “anti-ageing” skin care products you ...
Source: The Conversation (Au and NZ) – By Bronwyn Carlson, Professor, Critical Indigenous Studies and Director of The Centre for Global Indigenous Futures, Macquarie University The Conversation, CC BY-SAAboriginal and Torres Strait Islander readers are advised this article contains names and images of deceased people. Colonial commemorations ...
Source: The Conversation (Au and NZ) – By Susan Hazel, Associate Professor, School of Animal and Veterinary Science, University of Adelaide Masarik/Shutterstock In some overseas countries, pets can travel with their owners in a plane’s cabin, in a carrier under a seat. In Australia, pets must travel in the ...
A raft of proposed legislation changes to the media and screen industry have been announced this morning – we read through it all all so you don’t have to. What’s all this then? This morning the Ministry for Culture and Heritage released its draft proposed changes to media and screen ...
David Seymour's recent off-road parliamentary excursion led to a reprimand from the Speaker, who also said the rules didn't apply to this instance. What are the rules? ...
Source: The Conversation (Au and NZ) – By Lee Morgenbesser, Associate Professor, School of Government and International Relations, Griffith University, Griffith University Many Americans have watched in horror as Elon Musk, the world’s richest person, has been permitted to tear through various offices of the United States government in recent ...
By Patrick Decloitre,RNZ Pacific correspondent French Pacific desk French Minister for Overseas Manuel Valls has announced he will travel to New Caledonia later this month to pursue talks on the French territory’s political future. These discussions on February 22 follow preliminary talks held last week in Paris in “bilateral” mode ...
As Benjamin Netanyahu threatens to resume war, Hamas outlines widespread Israeli ceasefire violations in document sent to the mediators.By Jeremy Scahill and Sharif Abdel Kouddous of Dropsite News Hamas officials submitted a two-page report to mediators yesterday listing a wide range of Israeli violations of the Gaza ceasefire since ...
Source: The Conversation (Au and NZ) – By Murray Print, Professor of Education, University of Sydney A federal parliamentary inquiry has just recommended civics and citizenship become a compulsory part of the Australian Curriculum, which covers the first year of school to Year 10. The committee also recommended a ...
Welcome to The Spinoff Books Confessional, in which we get to know the reading habits of Aotearoa writers, and guests. This week: Claire Baylis, author of Dice and guest at the forthcoming HamLit programme at the Hamilton Arts Festival. The book I wish I’d writtenMy mind seems surprisingly unwilling ...
The courts should deal with illegal fishing, not the "court of public opinion", Shane Jones says, as he announces proposed changes to the Quota Management System. ...
Source: The Conversation (Au and NZ) – By Megan McElhone, Senior Lecturer in Criminology, Monash University A London court has found Sam Kerr not guilty of the racially aggravated harassment of Metropolitan Police officer Stephen Lovell. As captain of the Australian women’s national soccer team, Kerr was widely condemned when ...
Could iwi and hapū be the unexpected solution to the government’s asset dilemma? David Seymour pressured the prime minister into an unwelcome conversation, and in the couple of weeks since the Act leader raised the issue in his state of the nation speech, privatisation has shifted from absent in the ...
Human rights advocates must uphold human dignity, rights and justice, while rejecting the discriminatory tactics we oppose, writes Taimor Hazou.Two weeks ago the Palestinian Solidarity Network Aotearoa (PSNA) launched a campaign inviting New Zealanders to call a hotline if they suspected an Israel Defence Force (IDF) soldier that had ...
Immigration New Zealand figures shows more people have been looking at the ETA and visitor visa pages on the website, however fewer people have applied to come or to extend their stay. ...
Source: The Conversation (Au and NZ) – By Kirsten Banks, Lecturer, School of Science, Computing and Engineering Technologies, Swinburne University of Technology Debris on the surface of Mars from the Perseverance mission, captured on April 19 2022. NASA/JPL-Caltech In his inauguration speech in January, United States President Donald Trump ...
Source: The Conversation (Au and NZ) – By Alix Woolard, Senior Research Fellow, The Kids Research Institute Australia Stock Unit/Shutterstock Have you ever asked someone how their day was, or been chatting casually with a friend, only to have them tell you a horrific story that has left you ...
Source: The Conversation (Au and NZ) – By Quentin Grafton, Australian Laureate Professor of Economics, Crawford School of Public Policy, Australian National University The Roper RiverChris Ison/Shutterstock Water is now a contested resource around the world. Nowhere is this more evident than in the fight playing out over the ...
Source: The Conversation (Au and NZ) – By Graeme Turner, Emeritus Professor of Cultural Studies, The University of Queensland Matej Kastellic/ Shutterstock As we head towards the federal election, both sides of politics are making a point of criticising universities and questioning their role in the community. ...
Alex Casey examines the perils of having your period at a music festival. It was right after Clairo’s swooning set that Sarah* knew it was time. She was on the second day of her period at Auckland’s Laneway festival, and braved the portaloos to empty her menstrual cup and change ...
A battle between health officials and local councils is heating up, as one government party seeks to change the rules. The Bulletin’s Stewart Sowman-Lund explains. To receive The Bulletin in full each weekday, sign up here. ...
I went to see Jeff Rubin speak last night, former Chief Economist of CIBC World Markets and now author of a number of books on peak oil and the end of growth. http://www.jeffrubinssmallerworld.com/
I wrote a review on his talk here if anyone is interested: http://www.southernlimitsnz.com/2012/05/review-jeff-rubin-on-end-of-growth.html
His basic premise is this: zero growth is the new global norm. This does not bode well for the recent budget forecasts. I think it is a pretty safe bet that New Zealand will not be in surplus by the next election.
He also predicts that we are at the beginning of a recession worse than the 2008 GFC and that Greece will default within 4-5 months with Italy, Portugal and Spain not far behind.
Great. Thanks for this. I see Rubin’s policy suggestions differ from some of the ways he sees things developing, if they are left unchecked.
e.g. He sees a trend to government contracting out work. This may be cheaper, but, it is not the most effective way to get work done. It lowers the quality and the pay of workers, while the private companies cream off profits.
Rubin also sees the trend going towards young people staying at home longer & people working til an older age. This could mean less work for younger people. However, Rubin’s policy solution is for more job share.
For myself, I plan to keep working as long as I can. But, now in my early 60s, I have shifted to part time work, and in an alternative occupation from my (previous) main career. This job pays less, and I have less responsibilities. But I live frugally so can live OK on my income. I also work weekends (the relatively unsociable hours that are least favoured by younger people with families or lively social lives).
However, one thing I would suggest as a policy for older workers, is more consideration of the requirements to making such transitions. In my case the in-service training development is focused more on career development for younger workers, via uni degrees (I already have a string of these, and in many ways am over-qualified for my current work). For older workers, there should be more focus on recognising transferable skills, and targeting inservice training/education on specific requirements of the current job.
Of course, contracting out is not actually “cheaper” if the quality and service you get in return is also cheaper.
Classic example are our defence forces catering services which have been contracted out. Cheaper is what it looks like, but you also get what you pay for less the private sector profit margin and higher financing costs.
Contracting out is certainly not cheaper here are some reasons why.
1: Govts are obliged to take the lowest tender….too bad if it turns out to be more expensive, as they don’t treat business case, or benefit realizations as living documents over the life of the transition.
2: Govts are deliberately poor at commercial contracts, and have a history of being miliked, with inside help from “public servants”.
3: Contracting out = Kiwis out of work = additional social costs which become exponential
4: Contracting out means that (most) likely, profits flow offshore, the profit has to be created out of the contract elsewhere, loweer wages, less staff, worse quality….We all pay for that one way or another.
So it goes on!
Nice one SL, been a fan of Jeff for ages. His delightful phlegmatic delivery of crucial information in that wonderful Canadian drawl effectively make those who want to continue to prop up the clearly unsustainable look like they’ve missed a dose of their meds.
Thanks. Interesting material here with lots to think about.
Even if New Zealand is in surplus by next election, will that be reason for Government gloating? Fine to have a sound economy whilst we have a population in misery.
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10808597
From today’s Herald, John Key revealing what I believe is one of his main reasons for returning to New Zealand for the PM gig:
He also said that if you were shopping for countries, New Zealand would be a good prospect.
“If you were really going to go out and buy a country, why wouldn’t you want to buy New Zealand?
“Would you really want these other countries that are highly indebted, have hugely inflexible and inefficient systems, don’t have the natural resources that we have, don’t have the potential that we have.”
I’m sure he will be richly rewarded by our owners to-be.
Indeed, an interesting exposure of how Key (and his cronies) mind/s work – it’s all about trading and playing the market.
“If you were really going to go out and buy a country, why wouldn’t you want to buy New Zealand?
This exposure of Key’s outlook should be put up on billboards and t-shirts everywhere.
John key – the man with a mission to sell NZ to the highest bidder!
John Key: trader in money and countries – he’s busy selling yours!
You’d think it would be unwise for Key to publicly associate himself with the idea of “buying” NZ. Do I see another cutesy photo-feature of the Key family (maybe at the beach) in a women’s magazine, in the near future?
This will become a part of the bigger picture that is emerging, especially if it is successfully exploited as such by the opposition.
Uh, not quite. I don’t believe that you have understood John Key’s mindset correctly.
He is going to sell NZ to his mates for cheap so that they can maximise their profits off us, and in doing so owe him.
I wouldn’t be surprised to see John Key get offered a board position at one of the big investment banks soon after he leaves office, for instance.
Indeed those comments are a genuine attempt for Key inform people the real agenda, I would like to say that it might be attached to guilt, but that is not an emotion which people with psycopathic tendancies have, so I am going with brazen honesty..
Key is capable of telling the truth about the big picture as he has here, but then will lie openly when covering up the little links in the journey to that same big picture, as a way to try throw people off the trail.
This is a facinating insight, and I would hope that those in the public who still think Key is doing a good job, are paying attention to such statements as they are not throw aways!
Ha, no they can’t. That’s one of the lies that this government and others have used for privatisation since the 1970s.
Gah, that was actually a reply to Southern Limits.
An excellent Kim Hill interview with Prof. Steven Keen on Radio NZ this morning. He’s a difficult subject to interview because he’s got so much information to convey and tends to come across as a little arrogant about it.. but Kim manages pretty well I thought. The essentials of Keen’s thinking are all there… plus few new ones I haven’t read lately.
Well worth a listen.
Totally agree Red. I am not Economics literate but Steven Keen makes a great deal of sense. Perhaps our Financial Leaders should be forced to listen?
His point about banks enticing more people to borrow huge amounts in relation to their own stake which causes the Private Debt bubble to blow up, – again. Decades ago if you had $30,000 you could borrow $100,000 for your house. Again now, your $30,000 can let you borrow as much as $1,000,000. Banks want you to.
Crafar farms anyone? Inflated house prices?
We need to listen to and support economists which aren’t trapped in the cosy bank-sponsored neoliberal paradigm of the world.
Which is pretty difficult since virtually every economics department in the world is still teaching their undergrads demonstrably incorrect shit about “Value At Risk” analysis, the inter-changeability of savings, debt and money, and price/supply/demand curves.
Basically modern orthodox economics is dangerously over-financialised and false.
Thats right ianmac, it is exactly how banks, being at the center of the problem, inflating the debt (monetary) supply out of thin air, but with the consequence, that once the house of cards falls, the debt holder gets to own all the hard assets, and force the sale of those which is does not own…
And thats really just the retail banking sector interface you refer…of course behind those learly coloured banking stores lurks the casino banking cartels…
I wonder how long it will be before that $112 Billion, becomes an “official” problem..
Whih bank lets you borrow 1,000,000 on 30,000?
Not sure that you would in NZ. However, 5% deposit mortgages are coming back in NZ. With $30K down you’ll get a $600K mortgage.
In the US, zero down mortgages are still common.
Okay, thats 600k, not the mil that was mentioned.
Interesting interview, mainly Keen talking. Ultimately he proposes a kind of tinkering right up close to the inevitable line that will have to be crossed, eventually, if humanity really wants to begin addressing inequalities in society caused through the limitations of economics. His solution will certainly be palatable to many. A bit like voting Labour over National: same end, different speeds, one more ocmfortable than the other and the seats have cup holders. The admission that it is the gentle approach to major change is spelled out at the end, where both he and Hill unsurprisingly arrive at the Marxist conclusion as self evident.
The other problem with his scheme involves his focus on using it to attend to house prices (a specifically irrational NZ issue for the middle classes, why I don’t know, something to do with uncertain/irreconcilable moral values) in which he comes close to making the same mistake as neo-classical economic thinking, in that they assume the financial activites of an indivdual extrapolated how many times equal the activities of a society.
Keen says the amount of borrowing should be limited by a person’s level of savings, but forgets that (does he forget? Why did he not clarify?) businesses would be obliged to use the same model, and that a system that overnight abolishes our current blank cheque leverage lending idea, would make it impossible for construction firms – mainly smallish firms – to meet the ideal of a “middle income home” worth 2-2.5 times the median income. Not only would their formation become restricted, but sourcing materials cheap enough would risk either impossibility or the trap of monopoly. There are too many unexplained practicalities of building the utopian house. He often blends morals and values with economics, but he makes no attempt to understand why such a house would be required or even if the problem would still exist by the time his system began to function. It seemed like he was trying to sell his idea to specific group of people, who had no idea about the application discussed, but held some common and unexamined values and ideals about life. Man’s got to eat, I suppose. But who’ll pay the bill?
This idea wasn’t tagged onto his comments about allowing government lending to catch up to bank lending, so I have no idea if he thought the government would become the owner of construction firms. This idea seemed purely theoretical to me, it wasn’t explained, or at least it was explained within a vacuum; like calculating on paper how far a new type of aircraft with round section wings could travel in a 30 Knot headwind before the first protoype had been built.
Definitely worth a listen, overall, for an excellent explanation of effects of neo vs. classical economics, but there are some holes that are not explained. If anyone here can fill them in, I’d appreciate it.
Agree, that ideal ratio is not going to be achievable any time soon.
I personally don’t see why a quality (albeit modest) 3 bedroom house can’t be built for $200,000 plus land if private sector profit taking was set aside, and highly common plans and materials used. Plus centralised bulk purchasing of course. In other words, state housing, built by the state.
In The Guardian:
And who was this font of capitalist efficiency? None other than Serco – the people this government just hired to do prisons for us which is having difficulty meeting targets.
Matthew Hooton has a bigoted small minded story in the NBR, accusing Helen Clark of being corrupt.
He should no longer be referred to as a “political commentator” by the various media that give him oxygen.
This story indicates that National is going to push a ” Labour is Corrupt” theme. Time to fight fire with fire.
http://www.nbr.co.nz/article/labour-still-paying-clark-governments-corruption-119679#comment-395228
Are there people in Labour shitting themselves at the moment?
From the article:
Hardly a surprising considering this from an internal affairs official:
This case must be like a Jaws movie for Labour. “Just when you thought it was safe to go back into the water…”
I read that TS and couldn’t quite see what the problem is. While the system allows for Ministerial intervention, then cases will be referred onwards.
Funny that the SFO might express an interest given that they usually are only involved with sums over $200,000. Don’t think that Mr Jones was offered or given any financial gain nor anyone involved with Mr Yan. The agent who acted for him charged $10,000 which is presumably the going fee.
The problem is, ianmac, that this guy had serious unanswered questions about him, yet there still appeared to be a rush to get his citizenship approved at a political level. And there was no need for the rush, because the guy had residency, so couldn’t be sent back to China anyway.
Also, the claim that this was on humanitarian grounds doesn’t stack up with previous decisions Jones had been making with respect to immigration. For instance this case which on the face of it would seem just as deserving of ministerial intervention, if not more so.
You are correct about the SFO being only interested in cases exceeding $200k. So, perhaps they could be interested because they are aware of information that hasn’t hit the media yet?
Its been reported that yan/liu dropped upward on $10 mil at sky city and if he could afford to throw away that kinda coin who knows what he threw at Samuels/Jones/Labour.
Good to see also that it has been confirmed that there is no “note” supporting the Jones claim that he would be killed and chopped up for spare parts.
Link?
I guess David C is talking about this article: The mysteries of Citizen Yan
A bit of over exaggeration again by David C.
Unfortunately, that’s just one of a slew of similar cases… 🙁
The real problem of course is that “all sides” are neck deep in dodgy dealings….
Notice how we have Banks, followed by Jones, all with the aim of confusing the electorate.
To control all sides, you have to corrupt all involved…
Are we getting it yet!
Interesting article.
http://www.terradaily.com/reports/Earth_water_cycle_intensifying_with_atmospheric_warming_999.html
This too.
http://www.salon.com/2012/05/24/my_break_with_the_extreme_right/singleton/
John Hansen – Asshole of the Week
While the dog whistle of terrorism reverberates around the empty skulls of racist bigots, a judge is meant to be free from such prejudices…
I think the only requirement is that they not make their bigotry so obvious. Not to mention their incompetence. The only question I have is how many drinks he’s been shouted at the Northern Club since his travesty of justice.
Um, just out of curiosity, how do you manage to get “the dog whistle of terrorism” from “But I regard it as highly relevant that the offending was not gang-related or associated with what I might call ‘conventional’ avenues of criminal activity. On the contrary, it occurred in pursuit of a worthy ideal and, perhaps most significantly, involved only a remote risk that it would lead to crimes of violence.”?
When you say the charges are unprecedented, what exactly are you comparing them too as I can’t recall any similar examples? If you compare it to the case of Bernard Shapiro in Christchurch, the judge held that “the offences were technical breaches in which Shapiro had exercised poor judgment, had been taken advantage of by a friend, and had relied on advice which proved to be not entirely accurate, from an arms dealer.” However, he was an a sole actor and had a clean record. Tame Iti had that previous weapons charge from 2005, which would have counted against him in sentencing. Ten firearms charges is not insignificant.
I’m not saying an investigation isn’t called for, but the ridiculous terrorism charges had already been dismissed so I fail to see the relevance to the current sentence. To harp on about the terrorism canard doesn’t help matters in the slightest. I have my doubts as to whether prison and not community service was the right option. I agree with Auckland University law professor Bill Hodge that “I think there was a serious issue there. You don’t demonstrate with molotov cocktails. On the other hand, was there overcharging, was there overkill, was that a sledgehammer? I think there’s an element of overkill.”
I wonder what you would be saying if it had been Kyle Chapman and mates running around with sawn-off rifles, semi-automatics and Molotov cocktails? Also defence lawyer Russell Fairbrother’s assertion “What Tuhoe do is their business. We’ve got to stop judging other people by our standards.” strikes me as patronising. It suggests that Maori belong in a category not responsible for their actions along with children and the mentally ill. Maori are modern people with modern lives in a modern world. Misuse of firearms is a serious issue and if someone had gotten hurt or killed because of a bunch of overgrown kids playing sillybuggers, we would be having a very different conversation. </end cathartic rant>
I’m comparing them to similar cases Populuxe1. For example where somebody is caught with Molotove cocktails and premeditation of a crime is proven but not undertaken, they recieve less than a year. Most offenses concerning unregistered firearms receive a warning.
So while Hansen says he thinks there’s only a remote risk that the training would lead to crimes of violence, he hands down a sentence that is completely disproportionate to that contention, leaving myself and many other commentators to think that he’s been listening to the dog whistle that continues to be promoted by the police.
Let’s take another example where Cameron Slater publishes material calling for somebody to be gut shot, is known to have a mental illness, weapons and a large cashe of ammunition… but the police don’t even bother to question the hate monger. Do you not see the disproportionate treatment certain people get over others?
You quote Bill Hodge who says that people don’t demonstrate with Molotov cocktails, however sometimes they do. In this case it’s spurious to say that the Urewera four were using Molotov cocktails at all. There is no clear evidence linking them to what the police claim were Molotov cocktails. These so-called “restricted weapons” were not even taken off private land were they?
You then make a link between what was occurring in the Urewera’s and what white supremacist groups undertake all the time. The disproportionate focus on Maori in comparison to white supremacists couldn’t be starker. It shows an endemic racism within not just the police force, but policy makers as well.
It does not! It suggest there is some truth to the argument that Tuhoe is a sovereign nation that has never signed its right over to invading forces. Where on earth you got “children and the mentally ill” from is what is patronizing. Fairbrother also raises the issue of what private land actually is. Now that a retrospective law change has allowed the police unfettered access to spy on people no matter where they are, his statement is even more pertinent.
I couldn’t agree more. In fact I’ve written extensively on the subject… but the point you seem incapable of fathoming is that nobody was hurt, the crowns case was largely based on speculation and the sentences handed down were unprecedented in such circumstances. There are serious grounds for an appeal here, and I wont be surprised when Hansen’s prejudiced decisions are overturned.
Seconded!
Mirror mirror on the wall?
Don’t look too closely jack-off
The judgement on Liu is like Scottish Law (a very good one)
“Not Proven”.
This is not over yet by a long way.
Those wise economy boffins in National have discovered a new revenue stream to fund the $150 million refurbishment of New Zealand House – link
Complaints against Waitangi column upheld
It’s interesting that the Herald also reports that their readership has increased dramatically, which is one of the main reasons they publish such articles. It causes a scandal and people therefore buy more papers and visit the Herald website more, which means they can sell more advertising… have you seen how much advertising is in the Herald these days?
Unless there are some real financial disincentives to promoting such racist claptrap, we will continue to see similar bigoted and inaccurate articles being published.
Nope, can’t say I have. Don’t get the paper version and I have Adblock to remove advertising.
Somebody was nice enough to work out the content of the Weekend Herald, which just won Newspaper of the Year…
Sat 19 May: Pages 30. Advertising 56%. Opinion 11%. News 26%. Other 7%.
That’s by centimetre columns I take it. Man that’s some work, credit to whoever did it 😀
I think that’s how Chris worked it out.
Sunday Star Times is the worst. I swear to god a few times I have found them to be almost entirely content free.
Lifestyle Creep; peoples lifestyles being led by MARKETEERS for PROFIT.
Committing people and families to PAYMENT PLANS and DEBT
DEBT
DEBT. Follows around like a bad smell.
An ongoing CASH-COW for the corporate level and WANNABEES elite.
THINKING STUDENTS reference to Foucaults analyses of POWER DISCIPLINE PUNISHMENT
EXCELLENT analysis and synthesis there.
Great Work.
Liberal Studies at unis being CUT first.
RODD CARR, what a small-minded man.
Axe any Philosophy courses that direct one away from Utilitarianism?
Watch the mass-produced cohorts of non-utility “professionals” and their addiction to credentialism flee with the neglected productive classes.
Paul Thomas seems like a poor historicist apologist shoeshine boy.
IF one is aged between 30 AND 47 years of age and existentially relaxed, they are most able to challenge and modify the values beliefs and attitudes of the OLDER GENERATION who could know better.
DAVID PARKER.Not growth, ASIAN INVESTMENT in INFRASTRUCTURE.
EMPLOYMENT, of greater value to a LABOUR representative. Or give the portfolio to That Cunliffe chap.
Rena disaster – who’s really to blame
The failed free-market ideology that National blindly follows and greedy multinational’s are just as much to blame as those hapless idiots Captain Mauro Balomaga and navigational officer Leonil Relon who piloted the MV Rena into the Astrolabe reef…
Short the dollar.
http://www.scoop.co.nz/stories/HL1205/S00176/sludge-report-197-short-the-dollar.htm
shed a tear for james gurley.
passed on monday.
Mr Smith. Very Helpful. U the bomb.
Joe 90; Groovy.