The Guardian has corrected an article describing a “plot” to “smuggle” WikiLeaks founder Julian Assange out of London, more than a year after publication
This might be the black swan landing that breaks the global economy.
From the latest Notes From The Field written by Tim Staermose, Sovereign Man’s Chief Investment Strategist:
According to the People’s Bank of China (PBOC)’s “2019 China Financial Stability Report,” 586 out of 4,379 Chinese lenders were officially deemed to be “high risk”.
But that overall figure, bad as it is, may be masking the true extent of the problem.
According to the same report, over one third of rural lenders are deemed to be “high risk.” One in three banks in rural China. Hmmm.
And this lack of confidence is beginning to cause bank runs.
Yingkou Bank in Liaoning Province, and Yichuan Rural Commercial Bank in Henan Province, both faced bank runs in early November.
-snip-
If just 5% of the Chinese banking system requires a bailout, for example, that’s the equivalent of nearly 20% of GDP.
20% of GDP is an impossible bailout for anyone, even China.
On checking on the net, Chinese public, household and corporate debt is 300% of GDP (Reuters 2019). That is similar to NZ total levels of debt. The NZ debt has rapidly increased in the last decade and is largely household and farms, due to high levels of mortgages. The US level is closer to 400%, being 100% public, 200% household and 100% business.
So is the Chinese level something to worry about? Perhaps not, based on western levels of debt.
Many OECD countries are at the 300% to 400% levels, with some (Greece, Italy) having 200% public sector debt alone. Clearly, based on the experience of those two countries, 200% public debt cripples growth.
Increasing global population, coupled with migration, will prop up the stuttering growth model for a decade or two yet. More people are a 'raw fuel' for economic growth; that fuel will begin to 'dry up' when essential resources become limiting.
As you noted (in Incognito’s post @7.1.1.1), "How that decline plays out is the unknown". Make hay…
"From Sheep to Trees Three decades ago, while still in their 40s, Marlene and Patrick Anderson decided to drop out of the rat race. Since then, they have been planting trees and helping New Zealand fight climate change." https://www.imf.org/external/pubs/ft/fandd/2019/12/pdf/fd1219.pdf [p45]
Wayne, the obvious conclusion about Greece and Italy is that public sector austerity programs cripple growth. Public debt levels don't cripple growth and the ideology driven conclusions of Rogoff and Reinhardt didn't just contain elementary errors but also clear instances of adjusting the data to draw a preconceived conclusion and failure to understand causality.
In Greece case your citing debt to GDP ratios without mention of a 20% fall in the denominator.
There must be a level where a nation can have too much public debt, where the interest bill takes up too much of the tax receipts.
Even at the current very low interest rates, the Greek and Italian public sector debt will be costing around 4% of GDP, which would be at least 15% of total tax receipts. And that is assuming that the Greeks and Italians actually pay 30% of GDP in tax. That is highly unlikely.
So I am certain that public debt at 200% of GDP is way too much. It stunts growth. Lenders are reluctant to extend new loans. There is real pressure for a haircut, but how often does the European Central Bank do this?
It is the same problem Argentina faces. An inability to manage public finances, with continual expectations of IMF bailouts.
Much better to have the New Zealand approach. When we had the twin shocks of the GFC and the Christchurch earthquake, the government could borrow the equivalent of 15% of GDP to get through, which pushed debt up to 20% of GDP. Now there is general consensus that because of low interest rates, it will be OK to go to 25% of GDP for a major public works program. None of this would be possible if New Zealand public debt was say 100% of GDP, not when private debt is over 200% of GDP.
Japan also has low growth. The level of public debt is one of the reasons, though not the only one.
At least Japan can borrow in its own very strong currency, so has minimal, even negative interest rates. Unlike Argentina where any public borrowing in the local currency simply drives inflation.
Got a call from a Kiwi pal in Perth. A dear friend of his had up and died. He went searching for a eulogy. Google led him to Nick Cave's website. Nick and his partner Susie had lost their son Arthur at an early age and a fan asked a question that lit Nick's insightful creative soul.
It's is great to see that the realities of Global warming human cause climate change cannot be ignored by the ruling people of the world no matter how far they try and shove their heads into Te Whenua. But remember this they will not give up their deceitful lies. They have story's that have headlines that fool you into thinking they are pro global warming mitigation. But in these story's they twist the facts against green energy. They are very sly people who have been planting lies in humanity’s head for hundreds of years.
Climate change denial was defeated in 2019. But what comes next won't be easier
Defeating the climate crisis is just the beginning of the struggle – and tough political choices will have to be made.
Will 2019 be remembered as the year in which climate change denial was defeated? The global climate strike, Greta Thunberg’s meteoric rise to international prominence, as well as several high-profile international conferences and reports – all contributed in putting climate skeptics on the back foot.
Even Donald Trump, who previously claimed that the climate crisis was a “hoax” invented by China to hold back American industry, has recently begun to brag about all his administration has done to address it. Following suit, the rest of his party is scrambling to develop a coherent environmental platform, more in line with their electoral base’s shifting views.
But the next steps in the global fight against the climate crisis remain far from clear. In the speech she delivered to US Congress in September, Thunberg maintained: “No matter how political the background to this crisis may be, we must not allow it to become a partisan political question. The climate and ecological crisis is beyond party politics. And our main enemy right now is not our political opponents. Our main enemy is physics.”
While Thunberg’s intention was evidently to preserve the environmental movement’s unity and common resolve, this may paradoxically soon start to look like a new form of climate denial. As the issue rises to the top of everyone’s agenda, several difficult questions which were previously kept in the background – or indeed actively suppressed – by the environmental movement are becoming impossible to ignore.
It has been a decade of extreme weather events up the East Coast had a hot record 10 years of above average temperature I read that in a study about this topic.????.
John Burnett made some great Kiwi TV shows one franchise is still running around the world.
The decade is ending with a excellent note we have a tangata government in power in Aotearoa and Global Warming Climate Change truths are now many tangata reality.
Awsome to see tangata whenua o Aotearoa given honours.
Ka pai to your secess guys Yes Haka is now world famous.
I would go to Te reo Kura but I will have to many kehua around me so I will teach myself Te reo I pick Ngāti Porou Te reo up easy as because I was raised in it.
Queens Town covered in smoke from the Australian Bush fires the beautiful views of the moanga clouded out by smoke.
The Rhythm and vines concert packs out Turangi Nui A Kiwa.
What makes me laugh is all this attention to meat and dairy. But nothing about the impact that vineyards and wine making has on our environment.???????.
It will be sad if the Monarch Butterfly's are lost Yes chemicals and humans are there demise.
Completed reads for April: The Difference Engine, by William Gibson and Bruce Sterling Carnival of Saints, by George Herman The Snow Spider, by Jenny Nimmo Emlyn’s Moon, by Jenny Nimmo The Chestnut Soldier, by Jenny Nimmo Death Comes As the End, by Agatha Christie Lord of the Flies, by ...
On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
Have a story to share about St Paul’s, but today just picturesPopular novels written at this desk by a young man who managed to bootstrap himself out of father’s imprisonment and his own young life in a workhouse Read more ...
The list of former National Party Ministers being given plum and important roles got longer this week with the appointment of former Deputy Prime Minister Paula Bennett as the chair of Pharmac. The Christopher Luxon-led Government has now made key appointments to Bill English, Simon Bridges, Steven Joyce, Roger Sowry, ...
Newsroom has a story today about National's (fortunately failed) effort to disestablish the newly-created Inspector-General of Defence. The creation of this agency was the key recommendation of the Inquiry into Operation Burnham, and a vital means of restoring credibility and social licence to an agency which had been caught lying ...
Holding On To The Present:The moment a political movement arises that attacks the whole idea of social progress, and announces its intention to wind back the hands of History’s clock, then democracy, along with its unwritten rules, is in mortal danger.IT’S A COMMONPLACE of political speeches, especially those delivered in ...
Stuck In The Middle With You:As Christopher Luxon feels the hot breath of Act’s and NZ First’s extremists on the back of his neck and, as he reckons with the damage their policies are already inflicting upon a country he’s described as “fragile”, is there not some merit in reaching out ...
The unpopular coalition government is currently rushing to repeal section 7AA of the Oranga Tamariki Act. The clause is Oranga Tamariki's Treaty clause, and was inserted after its systematic stealing of Māori children became a public scandal and resulted in physical resistance to further abductions. The clause created clear obligations ...
Buzz from the Beehive The government’s official website – which Point of Order monitors daily – not for the first time has nothing much to say today about political happenings that are grabbing media headlines. It makes no mention of the latest 1News-Verian poll, for example. This shows National down ...
It Takes A Train To Cry:Surely, there is nothing lonelier in all this world than the long wail of a distant steam locomotive on a cold Winter’s night.AS A CHILD, I would lie awake in my grandfather’s house and listen to the traffic. The big wooden house was only a ...
Packing A Punch: The election of the present government, including in its ranks politicians dedicated to reasserting the rights of the legislature in shaping and determining the future of Māori and Pakeha in New Zealand, should have alerted the judiciary – including its anomalous appendage, the Waitangi Tribunal – that its ...
Dead Woman Walking: New Zealand’s media industry had been moving steadily towards disaster for all the years Melissa Lee had been National’s media and communications policy spokesperson, and yet, when the crisis finally broke, on her watch, she had nothing intelligent to offer. Christopher Luxon is a patient man - but he’s not ...
Chris Trotter writes – New Zealand politics is remarkably easy-going: dangerously so, one might even say. With the notable exception of John Key’s flat ruling-out of the NZ First Party in 2008, all parties capable of clearing MMP’s five-percent threshold, or winning one or more electorate seats, tend ...
Bryce Edwards writes – Polling shows that Wellington Mayor Tory Whanau has the lowest approval rating of any mayor in the country. Siting at -12 per cent, the proportion of constituents who disapprove of her performance outweighs those who give her the thumbs up. This negative rating is ...
Luxon will no doubt put a brave face on it, but there is no escaping the pressure this latest poll will put on him and the government. Photo: Lynn Grieveson / The KākāTL;DR: These are the six things that stood out to me in news and commentary on Aotearoa-NZ’s political ...
This is a re-post from The Climate Brink by Andrew Dessler In the wake of any unusual weather event, someone inevitably asks, “Did climate change cause this?” In the most literal sense, that answer is almost always no. Climate change is never the sole cause of hurricanes, heat waves, droughts, or ...
Something odd happened yesterday, and I’d love to know if there’s more to it. If there was something which preempted what happened, or if it was simply a throwaway line in response to a journalist.Yesterday David Seymour was asked at a press conference what the process would be if the ...
Hi,From time to time, I want to bring Webworm into the real world. We did it last year with the Jurassic Park event in New Zealand — which was a lot of fun!And so on Saturday May 11th, in Los Angeles, I am hosting a lil’ Webworm pop-up! I’ve been ...
Education Minister Erica Standford yesterday unveiled a fundamental reform of the way our school pupils are taught. She would not exactly say so, but she is all but dismantling the so-called “inquiry” “feel good” method of teaching, which has ruled in our classrooms since a major review of the New ...
Exactly where are we seriously going with this government and its policies? That is, apart from following what may as well be a Truss-Lite approach on the purported economic “plan“, and Victorian-era regression when it comes to social policy.Oh it’ll work this time of course, we’re basically assured, “the ...
Hey Uncle Dave, When the Poms joined the EEC, I wasn't one of those defeatists who said, Well, that’s it for the dairy job. And I was right, eh? The Chinese can’t get enough of our milk powder and eventually, the Poms came to their senses and backed up the ute ...
Polling shows that Wellington Mayor Tory Whanau has the lowest approval rating of any mayor in the country. Siting at -12 per cent, the proportion of constituents who disapprove of her performance outweighs those who give her the thumbs up. This negative rating is higher than for any other mayor ...
Buzz from the Beehive Pharmac has been given a financial transfusion and a new chair to oversee its spending in the pharmaceutical business. Associate Health Minister David Seymour described the funding for Pharmac as “its largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff”. ...
Bryce Edwards writes – Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its ...
TL;DR: Here’s my top 10 ‘pick ‘n’ mix of links to news, analysis and opinion articles as of 10:10am on Monday, April 29:Scoop: The children's ward at Rotorua Hospital will be missing a third of its beds as winter hits because Te Whatu Ora halted an upgrade partway through to ...
span class=”dropcap”>As hideous as David Seymour can be, it is worth keeping in mind occasionally that there are even worse political figures (and regimes) out there. Iran for instance, is about to execute the country’s leading hip hop musician Toomaj Salehi, for writing and performing raps that “corrupt” the nation’s ...
Yesterday marked 10 years since the first electric train carried passengers in Auckland so it’s a good time to look back at it and the impact it has had. A brief history The first proposals for rail electrification in Auckland came in the 1920’s alongside the plans for earlier ...
Right now, in Aotearoa-NZ, our ‘animal spirits’ are darkening towards a winter of discontent, thanks at least partly to a chorus of negative comments and actions from the Government Photo: Lynn Grieveson / The KākāTL;DR: These are the six things that stood out to me in news and commentary on ...
You make people evil to punish the paststuck inside a sequel with a rotating castThe following photos haven’t been generated with AI, or modified in any way. They are flesh and blood, human beings. On the left is Galatea Young, a young mum, and her daughter Fiadh who has Angelman ...
April has been a quiet month at A Phuulish Fellow. I have had an exceptionally good reading month, and a decently productive writing month – for original fiction, anyway – but not much has caught my eye that suggested a blog article. It has been vaguely frustrating, to be honest. ...
A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 21, 2024 thru Sat, April 27, 2024. Story of the week Anthropogenic climate change may be the ultimate shaggy dog story— but with a twist, because here ...
Hi,I spent about a year on Webworm reporting on an abusive megachurch called Arise, and it made me want to stab my eyes out with a fork.I don’t regret that reporting in 2022 and 2023 — I am proud of it — but it made me angry.Over three main stories ...
The new Victoria University Vice-Chancellor decided to have a forum at the university about free speech and academic freedom as it is obviously a topical issue, and the Government is looking at legislating some carrots or sticks for universities to uphold their obligations under the Education and Training Act. They ...
Do you remember when Melania Trump got caught out using a speech that sounded awfully like one Michelle Obama had given? Uncannily so.Well it turns out that Abraham Lincoln is to Winston Peters as Michelle was to Melania. With the ANZAC speech Uncle Winston gave at Gallipoli having much in ...
She was born 25 years ago today in North Shore hospital. Her eyes were closed tightly shut, her mouth was silently moving. The whole theatre was all quiet intensity as they marked her a 2 on the APGAR test. A one-minute eternity later, she was an 8. The universe was ...
Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park in collaboration with members from our Skeptical Science team. You can submit claims you think need checking via the tipline. Is Antarctica gaining land ice? ...
Images of US students (and others) protesting and setting up tent cities on US university campuses have been broadcast world wide and clearly demonstrate the growing rifts in US society caused by US policy toward Israel and Israel’s prosecution of … Continue reading → ...
Barrie Saunders writes – Dear Paul As the new Minister of Media and Communications, you will be inundated with heaps of free advice and special pleading, all in the national interest of course. For what it’s worth here is my assessment: Traditional broadcasting free to air content through ...
Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its arguments for such a bold reform. ...
Peter Dunne writes – The great nineteenth British Prime Minister, William Gladstone, once observed that “the first essential for a Prime Minister is to be a good butcher.” When a later British Prime Minister, Harold Macmillan, sacked a third of his Cabinet in July 1962, in what became ...
Ele Ludemann writes – New Zealanders had the OECD’s second highest tax increase last year: New Zealanders faced the second-biggest tax raises in the developed world last year, the Organisation for Economic Cooperation and Development (OECD) says. The intergovernmental agency said the average change in personal income tax ...
We all know something’s not right with our elections. The spread of misinformation, people being targeted with soundbites and emotional triggers that ignore the facts, even the truth, and influence their votes.The use of technology to produce deep fakes. How can you tell if something is real or not? Can ...
This video includes conclusions of the creator climate scientist Dr. Simon Clark. It is presented to our readers as an informed perspective. Please see video description for references (if any). This year you will be lied to! Simon Clark helps prebunk some misleading statements you'll hear about climate. The video includes ...
It is all very well cutting the backrooms of public agencies but it may compromise the frontlines. One of the frustrations of the Productivity Commission’s 2017 review of universities is that while it observed that their non-academic staff were increasing faster than their academic staff, it did not bother to ...
Buzz from the Beehive Two speeches delivered by Foreign Affairs Minister Winston Peters at Anzac Day ceremonies in Turkey are the only new posts on the government’s official website since the PM announced his Cabinet shake-up. In one of the speeches, Peters stated the obvious: we live in a troubled ...
1. Which of these would you not expect to read in The Waikato Invader?a. Luxon is here to do business, don’t you worry about thatb. Mr KPI expects results, and you better believe itc. This decisive man of action is getting me all hot and excitedd. Melissa Lee is how ...
…it has a restricted jurisdiction which must not be abused: it is not an inquisitionNOTE – this article was published before the High Court ruled that Karen Chhour does not have to appear before the Waitangi Tribunal Gary Judd writes – The High Court ...
Lindsay Mitchell writes – One of reasons Oranga Tamariki exists is to prevent child neglect. But could the organisation itself be guilty of the same?Oranga Tamariki’s statistics show a decrease in the number and age of children in care. “There are less children ...
David Farrar writes: Graeme Edgeler wrote in 2017: In the first five years after three strikes came into effect 5248 offenders received a ‘first strike’ (that is, a “stage-1 conviction” under the three strikes sentencing regime), and 68 offenders received a ‘second strike’. In the five years prior to ...
Bryce Edwards writes – Prime Minister Christopher Luxon has surprised everyone with his ruthlessness in sacking two of his ministers from their crucial portfolios. Removing ministers for poor performance after only five months in the job just doesn’t normally happen in politics. That’s refreshing and will be extremely ...
TL;DR: These are the six things that stood out to me in news and commentary on Aotearoa-NZ’s political economy in the two days to 6:06am on Thursday, April 25:Politics: PM Christopher Luxon has set up a dual standard for ministerial competence by demoting two National Cabinet ministers while leaving also-struggling ...
Hi,Today I mainly want to share some of your thoughts about the recent piece I wrote about success and failure, and the forces that seemingly guide our lives. But first, a quick bit of housekeeping: I am doing a Webworm popup in Los Angeles on Saturday May 11 at 2pm. ...
It is hard to see what Melissa Lee might have done to “save” the media. National went into the election with no public media policy and appears not to have developed one subsequently. Lee claimed that she had prepared a policy paper before the election but it had been decided ...
Open access notablesIce acceleration and rotation in the Greenland Ice Sheet interior in recent decades, Løkkegaard et al., Communications Earth & Environment:In the past two decades, mass loss from the Greenland ice sheet has accelerated, partly due to the speedup of glaciers. However, uncertainty in speed derived from satellite products ...
Buzz from the Beehive A statement from Children’s Minister Karen Chhour – yet to be posted on the Government’s official website – arrived in Point of Order’s email in-tray last night. It welcomes the High Court ruling on whether the Waitangi Tribunal can demand she appear before it. It does ...
Mr Bombastic:Ironically, the media the academic experts wanted is, in many ways, the media they got. In place of the tyrannical editors of yesteryear, advancing without fear or favour the interests of the ruling class; the New Zealand news media of today boasts a troop of enlightened journalists dedicated to ...
It's hard times try to make a livingYou wake up every morning in the unforgivingOut there somewhere in the cityThere's people living lives without mercy or pityI feel good, yeah I'm feeling fineI feel better then I have for the longest timeI think these pills have been good for meI ...
In 1974, the US Supreme Court issued its decision in United States v. Nixon, finding that the President was not a King, but was subject to the law and was required to turn over the evidence of his wrongdoing to the courts. It was a landmark decision for the rule ...
Every day now just seems to bring in more fresh meat for the grinder.In their relentlessly ideological drive to cut back on the “excessive bloat” (as they see it) of the previous Labour-led government, on the mountains of evidence accumulated in such a short period of time do not ...
This is a re-post from Yale Climate Connections by Megan Valére SosouMarket gardening site of the Itchèléré de Itagui agricultural cooperative in Dassa-Zoumè (Image credit: Megan Valère Sossou) For the residents of Dassa-Zoumè, a city in the West African country of Benin, choosing between drinking water and having enough ...
Buzz from the Beehive Melissa Lee – as may be discerned from the screenshot above – has not been demoted for doing something seriously wrong as Minister of ...
Morning in London Mother hugs beloved daughter outside the converted shoe factory in which she is living.Afternoon in London Travelling writer takes himself and his wrist down to A&E, just to be sure. Read more ...
Mike Grimshaw writes – The recent announcement of the University Advisory Group, chaired by Sir Peter Gluckman, makes very clear where the Government’s focus and priorities lie. The remit of the Advisory Group is that Group members will consider challenges and opportunities for improvement in the university sector including: ...
Eric Crampton writes – The Reserve Bank of New Zealand desperately wants to find reasons to have workstreams in climate change. It makes little sense. They’ve run another stress test on the banks looking to see if they could find a prudential regulation case. They couldn’t. They ...
Rob MacCullough writes – Pundits from the left and the right are arguing that National’s Fast Track Bill that is designed to speed up infrastructure decisions could end up becoming mired in a cesspool of corruption. Political commentator ...
Looking at the headlines this morning it’s hard to feel anything other than pessimistic about the future of humanity.Note that I’m not speaking about the future of mankind, but the survival of our humanity. The values that we believe in seem to be ebbing away, by the day.Perhaps every generation ...
Swabbing mixed breed baby chicks to test for avian influenzaUh oh. Bird flu – often deadly to humans – is not only being transmitted from infected birds to dairy cows, but is now travelling between dairy cows. As of last Friday, Bloomberg News reports, there were 32 American dairy herds ...
On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
What is it with the mining industry? Its not enough for them to pillage the earth - they apparently can't even be bothered getting resource consent to do so: The proponent behind a major mine near the Clutha River had already been undertaking activity in the area without a ...
Photo # 1 I am a huge fan of Singapore’s approach to housing, as described here two years ago by copying and pasting from The ConversationWhat Singapore has that Australia does not is a public housing developer, the Housing Development Board, which puts new dwellings on public and reclaimed land, ...
This afternoon’s interim Waitangi Tribunal report must be taken seriously as it affects our most vulnerable children, Labour children’s spokesperson Willow-Jean Prime. ...
Te Pāti Māori are demanding the New Zealand Government support an international independent investigation into mass graves that have been uncovered at two hospitals on the Gaza strip, following weeks of assault by Israeli troops. Among the 392 bodies that have been recovered, are children and elderly civilians. Many of ...
Our two-tiered system for veterans’ support is out of step with our closest partners, and all parties in Parliament should work together to fix it, Labour veterans’ affairs spokesperson Greg O’Connor said. ...
Stripping two Ministers of their portfolios just six months into the job shows Christopher Luxon’s management style is lacking, Labour Leader Chris Hipkins said. ...
Tonight’s court decision to overturn the summons of the Children’s Minister has enabled the Crown to continue making decisions about Māori without evidence, says Te Pāti Māori spokesperson for Children, Mariameno Kapa-Kingi. “The judicial system has this evening told the nation that this government can do whatever they want when ...
It appears Nicola Willis is about to pull the rug out from under the feet of local communities still dealing with the aftermath of last year’s severe weather, and local councils relying on funding to build back from these disasters. ...
The Government is making short-sighted changes to the Resource Management Act (RMA) that will take away environmental protection in favour of short-term profits, Labour’s environment spokesperson Rachel Brooking said today. ...
Labour welcomes the release of the report into the North Island weather events and looks forward to working with the Government to ensure that New Zealand is as prepared as it can be for the next natural disaster. ...
The Labour Party has called for the New Zealand Government to recognise Palestine, as a material step towards progressing the two-State solution needed to achieve a lasting peace in the region. ...
Some of our country’s most important work, stopping the sexual exploitation of children and violent extremism could go along with staff on the frontline at ports and airports. ...
The Government’s Fast Track Approvals Bill will give projects such as new coal mines a ‘get out of jail free’ card to wreak havoc on the environment, Labour Leader Chris Hipkins said today. ...
The government's decision to reintroduce Three Strikes is a destructive and ineffective piece of law-making that will only exacerbate an inherently biased and racist criminal justice system, said Te Pāti Māori Justice Spokesperson, Tākuta Ferris, today. During the time Three Strikes was in place in Aotearoa, Māori and Pasifika received ...
Cuts to frontline hospital staff are not only a broken election promise, it shows the reckless tax cuts have well and truly hit the frontline of the health system, says Labour Health spokesperson Ayesha Verrall. ...
The Green Party has joined the call for public submissions on the fast-track legislation to be extended after the Ombudsman forced the Government to release the list of organisations invited to apply just hours before submissions close. ...
New Zealand’s good work at reducing climate emissions for three years in a row will be undone by the National government’s lack of ambition and scrapping programmes that were making a difference, Labour Party climate spokesperson Megan Woods said today. ...
More essential jobs could be on the chopping block, this time Ministry of Education staff on the school lunches team are set to find out whether they're in line to lose their jobs. ...
Te Pāti Māori is disgusted at the confirmation that hundreds are set to lose their jobs at Oranga Tamariki, and the disestablishment of the Treaty Response Unit. “This act of absolute carelessness and out of touch decision making is committing tamariki to state abuse.” Said Te Pāti Māori Oranga Tamariki ...
The Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...
Cancelling urgently needed new Cook Strait ferries and hiking the cost of public transport for many Kiwis so that National can announce the prospect of another tunnel for Wellington is not making good choices, Labour Transport Spokesperson Tangi Utikere said. ...
A laundry list of additional costs for Tāmaki Makarau Auckland shows the Minister for the city is not delivering for the people who live there, says Labour Auckland Issues spokesperson Shanan Halbert. ...
Te Pāti Māori co-leader Rawiri Waititi, and Mema Paremata mō Tāmaki-Makaurau, Takutai Tarsh Kemp, will travel to the Gold Coast to strengthen ties with Māori in Australia next week (15-21 April). The visit, in the lead-up to the 9th Australian National Kapa haka Festival, will be an opportunity for both ...
The Green Party has today launched a step-by-step guide to help New Zealanders make their voice heard on the Government’s democracy dodging and anti-environment fast track legislation. ...
The National Government’s proposed changes to the Residential Tenancies Act will mean tenants can be turfed from their homes by landlords with little notice, Labour housing spokesperson Kieran McAnulty said. ...
Green Party co-leader Marama Davidson is calling on all parties to support a common-sense change that’s great for the planet and great for consumers after her member’s bill was drawn from the ballot today. ...
The return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...
Energy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure. The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...
The coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...
The Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...
Justice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...
Trade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...
Education Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...
The new NZ Transport Agency (NZTA) App is a secure ‘one stop shop’ to provide the services drivers need, Transport Minister Simeon Brown and Digitising Government Minister Judith Collins say. “The NZTA App will enable an easier way for Kiwis to pay for Vehicle Registration and Road User Charges (RUC). ...
Whānau with tamariki growing up in emergency housing motels will be prioritised for social housing starting this week, says Associate Housing Minister Tama Potaka. “Giving these whānau a better opportunity to build healthy stable lives for themselves and future generations is an essential part of the Government’s goal of reducing ...
Racing Minister Winston Peters has paid tribute to an icon of the industry with the recent passing of Dave O’Sullivan (OBE). “Our sympathies are with the O’Sullivan family with the sad news of Dave O’Sullivan’s recent passing,” Mr Peters says. “His contribution to racing, initially as a jockey and then ...
Assalaamu alaikum, greetings to you all. Eid Mubarak, everyone! I want to extend my warmest wishes to you and everyone celebrating this joyous occasion. It is a pleasure to be here. I have enjoyed Eid celebrations at Parliament before, but this is my first time joining you as the Minister ...
Associate Health Minister David Seymour has announced Pharmac’s largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff. “Access to medicines is a crucial part of many Kiwis’ lives. We’ve committed to a budget allocation of $1.774 billion over four years so Kiwis are ...
Hon Paula Bennett has been appointed as member and chair of the Pharmac board, Associate Health Minister David Seymour announced today. "Pharmac is a critical part of New Zealand's health system and plays a significant role in ensuring that Kiwis have the best possible access to medicines,” says Mr Seymour. ...
Hundreds of New Zealand families affected by Fetal Alcohol Spectrum Disorder (FASD) will benefit from a new Government focus on prevention and treatment, says Health Minister Dr Shane Reti. “We know FASD is a leading cause of preventable intellectual and neurodevelopmental disability in New Zealand,” Dr Reti says. “Every day, ...
Regional Development Minister Shane Jones today attended the official opening of Kaikohe’s new $14.7 million sports complex. “The completion of the Kaikohe Multi Sports Complex is a fantastic achievement for the Far North,” Mr Jones says. “This facility not only fulfils a long-held dream for local athletes, but also creates ...
Foreign Minister Winston Peters’ engagements in Türkiye this week underlined the importance of diplomacy to meet growing global challenges. “Returning to the Gallipoli Peninsula to represent New Zealand at Anzac commemorations was a sombre reminder of the critical importance of diplomacy for de-escalating conflicts and easing tensions,” Mr Peters ...
Ambassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service. It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...
Distinguished guests - It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders. Our presence here and at the other special spaces of Gallipoli is made ...
Mai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia. Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...
Paul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...
Recreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...
Energy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...
The coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...
Overseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...
Emergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...
Justice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order. “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...
Associate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...
Hon Andrew Bayly, Minister for Small Business and Manufacturing At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho Good Afternoon and thank you for inviting me to open your summit today. I am delighted ...
The Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...
Foreign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions. “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says. “I am pleased to announce the appointment of these senior diplomats from the ...
New Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today. “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...
Minister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale. “It is good ...
The Government is reforming financial services to improve access to home loans and other lending, and strengthen customer protections, Commerce and Consumer Affairs Minister Andrew Bayly and Housing Minister Chris Bishop announced today. “Our coalition Government is committed to rebuilding the economy and making life simpler by cutting red tape. We are ...
“China remains a strong commercial opportunity for Kiwi exporters as Chinese businesses and consumers continue to value our high-quality safe produce,” Trade and Agriculture Minister Todd McClay says. Mr McClay has returned to New Zealand following visits to Beijing, Harbin and Shanghai where he met ministers, governors and mayors and engaged in trade and agricultural events with the New ...
Prime Minister Christopher Luxon has completed a successful trip to Singapore, Thailand and the Philippines, deepening relationships and capitalising on opportunities. Mr Luxon was accompanied by a business delegation and says the choice of countries represents the priority the New Zealand Government places on South East Asia, and our relationships in ...
New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...
The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa. The summit is co-hosted ...
A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
A Waitangi Tribunal inquiry report has warned government that a repeal of Section 7AA of the Oranga Tamariki Act could cause harm to children in care. ...
The Treasury has published today three new papers covering government consumption multipliers, automatic stabilisers and the impacts of global shocks on New Zealand’s economy. ...
Asia Pacific Report The Pacific state of Hawai’i’s House of Representatives has joined the state’s Senate in calling for a ceasefire in Israel’s war on Gaza, becoming the first state to pass such a resolution, reports Hawaii News Now. In March, the Senate passed a ceasefire resolution with a 24–1 ...
Source: The Conversation (Au and NZ) – By Christopher Ferrie, A/Prof, UTS Chancellor’s Postdoctoral Research and ARC DECRA Fellow, University of Technology Sydney PsiQuantum The Australian government has announced a pledge of approximately A$940 million (US$617 million) to PsiQuantum, a quantum computing start-up company based in Silicon Valley. Half ...
Source: The Conversation (Au and NZ) – By Hunter Bennett, Lecturer in Exercise Science, University of South Australia Cameron Prins/Shutterstock If you spend a lot of time exploring fitness content online, you might have come across the concept of heart rate zones. Heart rate zone training has become more ...
SPECIAL REPORT:By Eugene Doyle He is the most popular Palestinian leader alive today — and yet few people in the West even know his name. Absolutely no one in Gaza or the West Bank does not know him. That difference speaks volumes about who dominates the media narrative that ...
Source: The Conversation (Au and NZ) – By Will McCallum, PhD Candidate – School of Communication and Creative Arts, Deakin University Earlier this year, Opposition Leader Peter Dutton accused Prime Minister Anthony Albanese of not supporting Operation Sovereign Borders – the military-led border security operation that has “closed Australia’s borders ...
By Melyne Baroi in Port Moresby A Papua New Guinea MP, Peter Isoaimo, who had been ousted by the National Court in an alleged bribery case, has been reinstated by the Supreme Court on appeal. A three-member Supreme Court bench found that the National Court had erred in finding that ...
Publisher Chris Holdaway reflects on the unique project of collecting the work of the late, terrific poet Schaeffer Lemalu. One of the nice things you can do as a truly independent publisher is to make the books that writers want to make, whatever they happen to be. That’s how I’ve ...
Those profiled in the stamp series served on overseas deployments from 1995 onwards, and all have been awarded theNew Zealand Operational Service Medal. ...
Last night’s dismal poll result for the coalition government shows the limits of trying to govern as an opposition, argues Joel MacManus. There’s a quote from the American political activist Barbara Deming: “Vengeance is not the point; change is. But the trouble is that in most people’s minds, the thought ...
Source: The Conversation (Au and NZ) – By Shireen Morris, Associate Professor and Director of the Radical Centre Reform Lab at Macquarie University Law School, Macquarie University Leonid Andronov/Shutterstock Foreign interference in Australian democracy poses a growing risk to our national sovereignty. It refers to coercive, corrupt or ...
A defendant charged by the Serious Fraud Office (SFO) has pleaded guilty to four charges of obtaining by deception in relation to a mortgage fraud scheme. Sentencing has been scheduled for 14 August 2024. ...
What to say when pesky journalists ask gotcha questions like ‘can you name a single book you’ve ever read?’ and ‘did you read it, or did you just see the movie?’This week, Act Party arts spokesperson Todd Stephenson foolishly agreed to an interview with Newsroom’s Steve Braunias regarding his ...
Explainer - What will a ban on cellphones in schools achieve? Can students use them during lunch breaks? And what happens if you need to contact your child? ...
Source: The Conversation (Au and NZ) – By Jodi Rowley, Curator, Amphibian & Reptile Conservation Biology, Australian Museum, UNSW Sydney Jodi Rowley, CC BY-NC-ND In winter 2021, Australia’s frogs started dropping dead. People began posting images of dead frogs on social media. Unable to travel to investigate the deaths ...
In the year ended March 2024, 0.4 percent of home transfers were to people who didn’t hold New Zealand citizenship or a resident visa, according to figures released by Stats NZ today. ...
Source: The Conversation (Au and NZ) – By Wasay Majid, Research Assistant , University of Auckland, Waipapa Taumata Rau New Zealand’s accommodation supplement scheme is facing scrutiny, with Social Development Minister Louise Upston recently saying “there is merit in considering whether the current settings are fair and sustainable long-term”. The ...
By Koroi Hawkins, RNZ Pacific editor The first prime ministerial candidate has been announced in Solomon Islands and it is not Manasseh Sogavare. The man of the hour is Jeremiah Manele, the MP for Hograno/Kia/Havulei constituency in Isabel Province, who served as minister of foreign affairs in the last government. ...
Protesting the removal of bins by leaving piles of your dog’s shit for others to deal with doesn’t make you a hero – it’s precious and entitled behaviour. You haven’t truly lived until you’ve stood on the shoreline of Auckland’s Cheltenham beach, desperately trying to scoop increasingly liquid dog shit ...
Analysis - Christopher Luxon will be alert to the factors driving the dire polling, but won't be waving the white flag just yet, RNZ political editor Jo Moir writes. ...
Writer, teacher and academic Vincent O’Sullivan died on Sunday 28 April. Here we gather tributes from friends, colleagues, and students who remember his extraordinary contributions. I went down to the garage tonight. There was a bird shrieking out in the bush, in the dark, maybe a kākā. Miraculously, through the ...
As part of our series exploring how New Zealanders live and our relationship with money, a burnt-out corporate escapee explains how she gets by ‘working as little as possible’. Want to be part of The Cost of Being? Fill out the questionnaire here.Gender: Female Age: 31 Ethnicity: Pākehā Role: Contractor in ...
Source: The Conversation (Au and NZ) – By Timothy Schmidt, Professor of Chemistry, UNSW Sydney Albert Russ / Shutterstock The icebreaker of many a barbeque conversation is something like “what do you do for a crust?” “I teach chemistry at university,” is what we usually reply. Then silence. Our ...
Source: The Conversation (Au and NZ) – By Asher Flynn, Associate Professor of Criminology, Monash University Shutterstock Sexual harassment is often considered to be a person-to-person act, but new research shows Australians are also experiencing and perpetrating workplace harassment in large numbers through technology. Our latest study shows one ...
A petition signed by more than 16,500 people, demanding the government take stronger action to halt the genocide of Palestinians by the State of Israel, is being presented to the House of Representatives today by Hon Phil Twyford. ...
Source: The Conversation (Au and NZ) – By Peter Burnett, Honorary Associate Professor, ANU College of Law, Australian National University jenmartin/Shutterstock April has been a bad month for the Australian environment. The Great Barrier Reef was hit, yet again, by intense coral bleaching. And Environment Minister Tanya Plibersek delayed ...
Winston Peters might not give a ‘rat’s derriere’ about last night’s poll, but it revealed the unusual absence of a honeymoon period and little payoff for the government’s action plan approach, writes Anna Rawhiti-Connell in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in ...
Source: The Conversation (Au and NZ) – By Marco de Jong, Lecturer, Law School, Auckland University of Technology Getty Images Details released by the Department of the Prime Minister and Cabinet under the Official Information Act reveal New Zealand officials have been considering involvement in AUKUS from the outset. ...
The government's treatment of Māori raised eyebrows, with countries saying New Zealand needed to do more to reduce health, education and justice inequities. ...
The age of criminal responsibility was one of numerous human rights issues raised during Aotearoa New Zealand’s UPR. Other key themes were racism and discrimination, the disproportionate representation of Māori in prison, and to uphold the UN Declaration ...
In a sitdown interview ahead of his final day at Parliament this week, the former Green Party co-leader tells RNZ about his lowest point during 2017's rough election campaign. ...
Is the fringe radio station really in a financial crisis, or is it just running a hyped-up donation drive? Fringe internet radio station Reality Check Radio was launched by the anti-vaccine mandates group Voices for Freedom in March 2023. For the next year, it undertook probably the most aggressive promotional ...
Above the Fold: On Monday, the biggest Māori screen production company faced down the biggest funder of Māori content at the High Court. It was an incredibly tense moment – then, just as quickly, it resolved. Duncan Greive breaks down a strange day in the screen sector.Yesterday morning, Māori ...
It’s a ride that’s lasted almost 30 years for mother and daughter BMX riders Nancy and Toni James, and the next stop is the World Championships in Rock Hill, South Carolina. Almost 27 years ago, Nancy and her husband Gerrard took their oldest child, Daniel, to the Waitākere BMX Club. ...
When it comes to talking about the Government’s controversial fast-track consenting process, political scientist Richard Shaw refers to the famous Chinese sci-fi novel Three-Body Problem, while RNZ’s In Depth journalist Farah Hancock talks about zombie projects. Shaw is referring to the three-party coalition Government and how the proposed legislation is ...
Opinion: The debate over single gender versus co-educational schooling has long been controversial. I went to a co-ed school and was inspired by a remarkable woman who was my maths teacher, and because of her deep knowledge and passion for the subject, I knew that maths was definitely an option ...
He won everything and he earned a knighthood and he was a senior literary figure to the point that he was a living monument to himself until his death in the weekend at 86, but there was something about Vincent O’Sullivan that flew under the radar, that was independent and ...
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Source: The Conversation (Au and NZ) – By Rick Sarre, Emeritus Professor of Law and Criminal Justice, University of South Australia The rate of women killed by their partners in Australia grew by 28% from 2021–22 to 2022–23, according to new statistics released today by the Australian Institute of Criminology ...
Ministry of Disabled People employees were promised a permanent role, but were told to start packing three weeks before their fixed term contract finished, says a former employee. ...
Source: The Conversation (Au and NZ) – By Andrew Blakers, Professor of Engineering, Australian National University Clean Energy Council / Neoen As Australia’s rapid renewable energy rollout continues, so too does debate over land use. Nationals Leader David Littleproud, for example, claimed regional areas had reached “saturation point” and ...
Source: The Conversation (Au and NZ) – By Brendan C. Walsh, Sessional Academic, The University of Queensland Arrest for witchcraft (1866) by John PettieNGV, CC BY-NC In recent decades, governments the world over have increasingly taken action to address the dark history of witch-hunting. In western Europe, memorials to ...
By Mark Rabago, RNZ Pacific Commonwealth of the Northern Marianas correspondent The US Department of Justice is being urged to condemn and cease its reliance on the “Insular Cases” — a series of US Supreme Court opinions on US territories, which have been labelled racist. Senate Judiciary Committee chair Dick ...
Source: The Conversation (Au and NZ) – By Kara Dadswell, Senior Lecturer in Psychology, Victoria University Ask your son or daughter, niece, or nephew to draw you a picture of a sport coach. They will most probably draw a man. Why? Our latest research published in the Psychology of Sport ...
Source: The Conversation (Au and NZ) – By Nicole Rinehart, Professor, Child and Adolescent Psychology, Director, Krongold Clinic (Research), Monash University Shutterstock/Brian A. Jackson “Charlie” is an eight-year-old child with autism. Her parents are worried because she often responds to requests with insults, aggression and refusal. Simple demands, such ...
Happy Christmas…..
Nathan J. Robinson: Why YOU Should Be A Socialist
The Guardian has corrected an article describing a “plot” to “smuggle” WikiLeaks founder Julian Assange out of London, more than a year after publication
https://www.rt.com/uk/476767-guardian-correction-assange-story/
or, for those in fear of RT and Reds under the bed generally..heres the actual "Correction[s] and clarification[s]"
https://www.theguardian.com/news/2019/dec/22/corrections-and-clarifications
So to be precise, they did try to classify him as an embassy staffer to get diplomatic immunity, the Guardian just shouldn't have called it a "plot".
This might be the black swan landing that breaks the global economy.
From the latest Notes From The Field written by Tim Staermose, Sovereign Man’s Chief Investment Strategist:
-snip-
More here
The Chinese bailout. Is it really likely that Chinese debt through the banking system is 400% of GDP?
Because that is the implication of 5% of the Chinese banking system requiring 20% of GDP for a bailout.
Though the GFC bailouts in the US and Europe must have got up to 20% of GDP.
On checking on the net, Chinese public, household and corporate debt is 300% of GDP (Reuters 2019). That is similar to NZ total levels of debt. The NZ debt has rapidly increased in the last decade and is largely household and farms, due to high levels of mortgages. The US level is closer to 400%, being 100% public, 200% household and 100% business.
So is the Chinese level something to worry about? Perhaps not, based on western levels of debt.
Many OECD countries are at the 300% to 400% levels, with some (Greece, Italy) having 200% public sector debt alone. Clearly, based on the experience of those two countries, 200% public debt cripples growth.
and based on western levels perhaps so…there's two sides to a balance sheet
https://chinapower.csis.org/china-face-looming-debt-crisis/
who's our largest trading partner…and also the largest trading partner of our second largest trading partner?
When growth stops the growth model stops working
Increasing global population, coupled with migration, will prop up the stuttering growth model for a decade or two yet. More people are a 'raw fuel' for economic growth; that fuel will begin to 'dry up' when essential resources become limiting.
As you noted (in Incognito’s post @7.1.1.1), "How that decline plays out is the unknown". Make hay…
"when essential resources become limiting."
already happening
Wayne, the obvious conclusion about Greece and Italy is that public sector austerity programs cripple growth. Public debt levels don't cripple growth and the ideology driven conclusions of Rogoff and Reinhardt didn't just contain elementary errors but also clear instances of adjusting the data to draw a preconceived conclusion and failure to understand causality.
In Greece case your citing debt to GDP ratios without mention of a 20% fall in the denominator.
There must be a level where a nation can have too much public debt, where the interest bill takes up too much of the tax receipts.
Even at the current very low interest rates, the Greek and Italian public sector debt will be costing around 4% of GDP, which would be at least 15% of total tax receipts. And that is assuming that the Greeks and Italians actually pay 30% of GDP in tax. That is highly unlikely.
So I am certain that public debt at 200% of GDP is way too much. It stunts growth. Lenders are reluctant to extend new loans. There is real pressure for a haircut, but how often does the European Central Bank do this?
It is the same problem Argentina faces. An inability to manage public finances, with continual expectations of IMF bailouts.
Much better to have the New Zealand approach. When we had the twin shocks of the GFC and the Christchurch earthquake, the government could borrow the equivalent of 15% of GDP to get through, which pushed debt up to 20% of GDP. Now there is general consensus that because of low interest rates, it will be OK to go to 25% of GDP for a major public works program. None of this would be possible if New Zealand public debt was say 100% of GDP, not when private debt is over 200% of GDP.
Japan, which has equal public debt?
Japan also has low growth. The level of public debt is one of the reasons, though not the only one.
At least Japan can borrow in its own very strong currency, so has minimal, even negative interest rates. Unlike Argentina where any public borrowing in the local currency simply drives inflation.
Japan also has low growth.
So do we, thanks to the inane policies of your colleagues. Real estate "growth" is just miscounted inflation. So is immigrant capital.
US GDP approx 20 trillion….QE in excess of 2.5 trillion
EU GDP approx 18 trillion…QE 2.5 trillion
UK GDP approx 2.6 trillion…QE slightly under 500 billion
Chinese GDP approx 14 trillion
Got a call from a Kiwi pal in Perth. A dear friend of his had up and died. He went searching for a eulogy. Google led him to Nick Cave's website. Nick and his partner Susie had lost their son Arthur at an early age and a fan asked a question that lit Nick's insightful creative soul.
https://www.theredhandfiles.com/communication-dream-feeling/
It's is great to see that the realities of Global warming human cause climate change cannot be ignored by the ruling people of the world no matter how far they try and shove their heads into Te Whenua. But remember this they will not give up their deceitful lies. They have story's that have headlines that fool you into thinking they are pro global warming mitigation. But in these story's they twist the facts against green energy. They are very sly people who have been planting lies in humanity’s head for hundreds of years.
Climate change denial was defeated in 2019. But what comes next won't be easier
Carlo Invernizzi-Accetti
Defeating the climate crisis is just the beginning of the struggle – and tough political choices will have to be made.
Will 2019 be remembered as the year in which climate change denial was defeated? The global climate strike, Greta Thunberg’s meteoric rise to international prominence, as well as several high-profile international conferences and reports – all contributed in putting climate skeptics on the back foot.
Even Donald Trump, who previously claimed that the climate crisis was a “hoax” invented by China to hold back American industry, has recently begun to brag about all his administration has done to address it. Following suit, the rest of his party is scrambling to develop a coherent environmental platform, more in line with their electoral base’s shifting views.
But the next steps in the global fight against the climate crisis remain far from clear. In the speech she delivered to US Congress in September, Thunberg maintained: “No matter how political the background to this crisis may be, we must not allow it to become a partisan political question. The climate and ecological crisis is beyond party politics. And our main enemy right now is not our political opponents. Our main enemy is physics.”
While Thunberg’s intention was evidently to preserve the environmental movement’s unity and common resolve, this may paradoxically soon start to look like a new form of climate denial. As the issue rises to the top of everyone’s agenda, several difficult questions which were previously kept in the background – or indeed actively suppressed – by the environmental movement are becoming impossible to ignore.
Ka kite Ano link below.
https://www.theguardian.com/commentisfree/2019/dec/29/the-climate-movement-is-about-to-get-more-political-and-thats-a-good-thing
Kia Ora Newshub.
Queens Town packed out.
There are haters in all countries.
It has been a decade of extreme weather events up the East Coast had a hot record 10 years of above average temperature I read that in a study about this topic.????.
Theres only 2 legged snakes in Aotearoa.
Ka kite Ano.
Kia Ora Te Ao Maori News.
There looks like heaps of riders at the South Dakota America native riding trekking kia kaha.
That's looking like a good niche music market for Pacific tangata Heavy metal.
Ka kite Ano
Kia Ora Newshub.
That's is cool Sir Robert Ka pai.
John Burnett made some great Kiwi TV shows one franchise is still running around the world.
The decade is ending with a excellent note we have a tangata government in power in Aotearoa and Global Warming Climate Change truths are now many tangata reality.
Happy New year to all.
Ka kite Ano.
Kia Ora Te Ao Maori News.
The Salvation Army does great mahi.
Awsome to see tangata whenua o Aotearoa given honours.
Ka pai to your secess guys Yes Haka is now world famous.
I would go to Te reo Kura but I will have to many kehua around me so I will teach myself Te reo I pick Ngāti Porou Te reo up easy as because I was raised in it.
Ka kite Ano
Kia Ora Newshub.
Queens Town covered in smoke from the Australian Bush fires the beautiful views of the moanga clouded out by smoke.
The Rhythm and vines concert packs out Turangi Nui A Kiwa.
What makes me laugh is all this attention to meat and dairy. But nothing about the impact that vineyards and wine making has on our environment.???????.
It will be sad if the Monarch Butterfly's are lost Yes chemicals and humans are there demise.
Ka kite Ano.
Kia Ora Te Ao Maori News.
That's awesome sports Te tangata Ngapuhi up North.
You have to respect Tangaroa Mana and wear life jackets.
Its shocking the numbers of native Wahine that go missing in America and Canada with known trace.They must protect our Native Wahine Mana wairua.
I encourage my Tamariki to learn Te reo and our history.
Ka pai for your tohu Papa Gorge
Ka kite Ano
Kia Ora Newshub
Yes Te Ra is orange today from the smoke from the Bush fires in Australia.
Catfish are quite a bad pest now they're in Aotearoa
Ka kite Ano
Kia Ora Te Ao Maori News.
Condolences to Parekura whanau for their loss.
Our Glaciers are turning pango.
Ka pai to the Australian First Nations Tribal Warriors That's the way be proud of your great Culture.
Ka kite Ano.