Our Reserve Bank

Written By: advantage - Date published: 8:30 am, February 28th, 2018 - 97 comments
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We are awaiting the results of the first part of the review of the Reserve Bank.

There is a case to be made that the Reserve Bank should be eradicated.

Clutch your pearls, but the stage was set yesterday by Ministers Little and Parker about greater oversight by the courts of laws with Bill of Rights implications: breaking down the lichen-covered basalt walls of Wellington’s institutional islands. After a decade,we get to finally ask some of the hard questions about our structures.

There have been hints that there will be a set of mild reforms to better frame its targets – perhaps making them more complex. But it’s time to test those old walls hard.

We have been blaming Prime Minister Robert Muldoon in his dual role as Prime Minister and Minister of Finance and essentially running the foreign exchange reserves, inflation levels, and wage levels from a single gearstick held tightly inside his pudgy fist. Like a Baba Yaga nightmare, we blame his interventionism for replacing all direct political oversight of such policies with specialists that have nearly zero citizen oversight.

Yet in New Zealand, the result of the 1990s reforms of the public sector is a massive set of quasi-government entities and agencies who have very little Ministerial oversight, poorly influenced by letters of expectation that offer minor shunts to Statements of Intent, which in turn guide Boards, who in turn guide executive action, maybe. Each instrumental removal is a decrease in oversight to a power of 10. That is to say, almost no political influence at all. It is designed that way.

It is pretty weird to propose something so bold in Wellington terms when inflation has been negligible for a decade, headline GDP (if not productivity) is solid, headline unemployment is trending well under 5%, and government since 1999 has sustained and expanded a pretty extraordinary social compact.

What’s the problem then?

A massive political problem is the revolt against the European Union and against Washington by good old voters is a real sense that far too much of the actual decisions are made by unregulated elites who answer to nothing. The related problem is a long term depoliticisation of the public sector. Fewer and fewer of the public sector answer to actual people. They are protected by Boards. We need public sector specialists, whether you call them elites or not. We also need them to be answerable to the people we elect.

The other problem is long term debt. It remains New Zealand’s highest economic risk. With interest rates so low for so long, it is natural for private mortgage debt to go through the roof. That’s at the feet of Reserve Bank settings.

The final problem is the push-the-RB-off-a-cliff test: since global inflation has been so low after 2007, what difference would there really be if they didn’t exist?

The banking system needs more public and political pressure in order to make us a financially safer society, but it is getting less pressure instead.

But let us step back for a minute, lest I appear too mean to the New Zealand Reserve Bank.

The current battle in the developed world is in three fields: trade, climate, and security policy. Yet monetary policy is the one that snaps governments in half. Populist leaders now rise to power doing nothing more than denouncing central bankers and challenging the legitimacy of the current monetary order. As Donald Trump said on the campaign trail “And we have a Fed that’s doing political things. This Janet Yellen of the Fed. The Fed is doing political – by keeping rates at this level.” Just love his syntax.

In responding to this challenge, it is tempting to point to central banks’ independence from politics as a defense against the dangers posed by erratic leaders. Yet that would be a risky move. It turns out that decades of appeals to technocratic exceptionalism—the idea that monetary policy should be shielded from democratic oversight—have had costs. Indeed, this exceptionalism can lead to the very politicisation of monetary policy that it seeks to avoid.

Central banks play a paradoxical role in today’s developed democracies. Their work is highly technical, yet the consequences of their actions are inevitably political, producing big winners and losers. They wield great power in democratic societies, and yet they are unelected—because of the fear that politicians tend to push up inflation to appease their bases unless interest rate policy is insulated from democratic pressures. But we haven’t seen that in a strong sense since the 1980s.

The underlying tensions in central banks’ technocratic exceptionalism became particularly evident in the aftermath of the 2008 global financial crisis. In recent years, the banks’ entire mission has become unclear: for decades, they have been focused on fighting inflation, yet since the 2007-08 crisis there has been no inflation to worry about despite massive central bank interventions. In fact, the opposite fear—this time, of deflation—has driven extraordinarily loose policies and a great deal of experimentation, ranging from massive bailouts to quantitative easing and ultra-low (even negative) interest rates.

It’s time to make the staff of the Reserve Bank mere public servants, inside a simply dedicated Treasury unit, along with its many other units. Treasury continues its tradition of resolute and fearless advice no matter who is in government, and of course actually drafts the instrument with the highest impact upon us as an economy and as a society: the budget. Why not start thinking about monetary and fiscal policy as a whole thing? Why not integrate our banking regulator into Treasury? It’s time to smack the old institutional walls of the RB very hard.

The new RB Governor Adrian Orr, after such astoundingly good management of the NZSuperfund, will be well up for this kind of conversation across the whole of our remaining economic and monetary levers.
It is well time to do a real root-and-branch review of the existence of the New Zealand Reserve Bank. Bring back direct Ministerial control, and trust the people again.

97 comments on “Our Reserve Bank ”

Comments are now closed

Zorb6 1

28 February 2018 at 8:42 am

Very bold and well presented argument Advantage.The powers that be,the private central bankers on Wall St and the City,would take a very ,very dim view of any political party that acted on your recommendations.To quote Obama,’you know what happened to Dr King.
- Ad 1.1
  
  28 February 2018 at 1:34 pm
  
  Thanks Zorb
Stuart Munro 2

28 February 2018 at 8:45 am

The claims of low inflation are only supported by the anomalous decision to exclude cost of housing from calculations.
- Phil 2.1
  
  28 February 2018 at 9:18 am
  
  There’s a lot of ignorant nonsense that gets written on blogs, but this is right up there, Stu.
  
  The cost of renting residential property is included in the CPI.
  The cost of new residential property construction is included in the CPI.
  The cost of the fees and charges associated with property sales (RE agents, lawyers, property inspectors etc) is included in the CPI.
  
  What’s not included is the sale price of a preexisting residential property. And, there’s a very logical reason why: the sales price is a transaction between two individuals/consumers. There’s a net-zero impact on the flow of money between the consumer sector and other sectors of the economy.
  
  If you want to create an alternative CPI with preexisting residential property prices included then you’re more than welcome to do so. But you also have to be honest and say you only care about half of the individuals/consumers in the country and that you’ve created a political, not economic, indicator.
  - ropata 2.1.1
    
    28 February 2018 at 9:42 am
    
    net zero??! haha right only if house prices never move
    
    having most of the population buried under huge mortgages (+ prices inflated by speculation) has a massive impact on family budgets and should be part of the CPI
    - Phil 2.1.1.1
      
      28 February 2018 at 9:53 am
      
      If you sell a preexisting residential house to me, I pay you money. It doesn’t really matter if that house price is $1 or $1,000,000 because the net effect of the total household sector’s ability to purchase things from other sectors is zero. All that has happened is money has moved from one consumer to another.
      
      Obviously there’s an equality/equity/fairness debate to be had and the difference between $1 or $1,000,000 definitely matters there but, and this is really important:
      
      The entire point of the CPI is to robustly measure the changing cost of ALL consumer interactions, in aggregate, with OTHER sectors of the economy.
      - Stuart Munro 2.1.1.1.1
        
        28 February 2018 at 10:00 am
        
        This is the kind of nonsense that gives economists their deservedly bad name. Housing is the largest element of inflation and the economists have chosen to ignore it. It makes their whole edifice of professional pretention a fraud and a sham, and it means the advice they give is at odds with reality. Garbage in, garbage out.
        
        Hornet 2.1.1.1.1.1
        
        28 February 2018 at 2:31 pm
        
        “Housing is the largest element of inflation and the economists have chosen to ignore it. ”
        
        Did you even read Phil’s post above (https://thestandard.org.nz/our-reserve-bank/#comment-1455012)?
        
        Stuart Munro …
        
        28 February 2018 at 4:48 pm
        
        I read and dismissed it Hornet.
        
        Housing inflation has imposed enormous deadweight costs to the NZ economy and this charlatan is trying to pretend that his professions’ failure to include such data in their analysis is something other than flagrant dysfunctional extreme rightwing bias.
        
        Unsuccessfully.
        
        Hornet …
        
        28 February 2018 at 4:53 pm
        
        What Phil explained to you was that a substantial portion of those costs ARE included, the only exception being sales of existing houses, which have always been excluded. It doesn’t make sense to change a long standing historic measurement basis because it suits a particular narrative, no matter who does it!
        
        Stuart Munro …
        
        28 February 2018 at 5:53 pm
        
        It makes sense to include any measure that contributes substantially to things like cost of living. It may have been the case back when housing was going for 5000 pounds or so that the measures Phil mentioned were adequate, but with housing being one of the largest lifetime costs for many consumers, and house price inflation having been in double digits for decades, excluding it calls for a serious explanation.
        
        A scientist who excluded the largest contributing instance of a factor they were studying would not readily find endorsement from their colleagues.
        
        Hornet …
        
        28 February 2018 at 7:34 pm
        
        “It makes sense to include any measure that contributes substantially to things like cost of living. ”
        
        I do understand the point you’re trying to make, but there are some legitimate arguments against it.
        
        1. Purchasing a house is not, in a sense, a cost of ‘living’. It is the acquisition of an asset. The interest we pay on our mortgages could be considered a cost of living, but interest rates have been at historical lows.
        2. Including house price inflation would mean that the CPI includes not only the cost of current housing consumption, but also the cost of (capitalised) future housing consumption.
        3. Home ownership is not compulsory. There are a number of alternatives, the main one (renting) is included in the CPI.
        4. The measurement of inflation has been consistent (with only minor tinkering) for a long time. That consistency gives the measure credibility.
        
        Stuart Munro …
        
        28 February 2018 at 9:52 pm
        
        It’s a class distinction to presume that purchasing a house is acquiring an asset. Home ownership is obligate in NZ to reduce one’s exposure to the rapacity and bad taste of landlords.
        
        Hornet …
        
        1 March 2018 at 10:33 am
        
        “It’s a class distinction to presume that purchasing a house is acquiring an asset.”
        Not at all. A house is not a consumable. It is a purchase made from (for most) future income, with a reasonable expectation of value appreciation.
        
        “Home ownership is obligate in NZ to reduce one’s exposure to the rapacity and bad taste of landlords.”
        And there I was thinking you were interested in a serious conversation!
        
        Stuart Munro …
        
        1 March 2018 at 10:42 am
        
        You just don’t get it Hornet.
        
        Draco T Bastard …
        
        28 February 2018 at 7:58 pm
        
        the only exception being sales of existing houses, which have always been excluded.
        
        Except for when they weren’t.
        
        4. The measurement of inflation has been consistent (with only minor tinkering) for a long time. That consistency gives the measure credibility.
        
        /facepalm
        
        If its missing vital data (which it is) then it’s not credible.
        
        Hornet …
        
        28 February 2018 at 9:29 pm
        
        “Except for when they weren’t.”
        Thanks, that is good background. What your post seems to suggest is that the cost of home ownership IS included, based on the 2006 methodology? And that it has been part of the CPI since 1949? If the 2006 methodology is still in place (?), doesn’t that contradict Stuart’s claim that it isn’t a factor in the CPI?
        
        “If its missing vital data (which it is) then it’s not credible.”
        You have to make the case that the data is ‘vital’, and that it is worthy of inclusion. As I pointed out (https://thestandard.org.nz/our-reserve-bank/#comment-1455300), there are good reasons to leave the full cost of purchasing a house out of the CPI. One of which is covered in your previous post – reducing levels of home ownership.
        
        mikesh …
        
        1 March 2018 at 1:36 pm
        
        Technically, Phil is right. The only cost associated with the house itself is depreciation. However, with property prices rising, depreciation is assumed to be zero, so there is no cost to be included in the CPI in respect of housing.
        
        This whole debate is rather silly because, even though house prices are not included, nobody as far as I know is denying that they are a problem.
      - Draco T Bastard 2.1.1.1.2
        
        28 February 2018 at 2:58 pm
        
        It doesn’t really matter if that house price is $1 or $1,000,000 because the net effect of the total household sector’s ability to purchase things from other sectors is zero.
        
        Wrong.
        
        If a house costs $1 and I have $1m then I can spend $999,999 on other things. If I have $1m and the house costs $1m then I’m not spending on other things.
        
        If a house costs $1 then anybody can purchase it. If it costs $1m then almost nobody can.
        
        Then there’s the fact that the money to buy the house, for those that can get a loan, will be created by the bank when the ‘loan’ is made. This boost of money in to the economy will push up inflation and that will most likely be for other houses and thus pushing even more people out of home ownership.
        
        The entire point of the CPI is to robustly measure the changing cost of ALL consumer interactions, in aggregate, with OTHER sectors of the economy.
        
        And so house price inflation needs to be incorporated into the CPI else it’s not doing its job.
        
        Really, I have significant concerns as to the average economist’s ability to do logic.
      - One Two 2.1.1.1.3
        
        28 February 2018 at 3:09 pm
        
        because the net effect of the total household sector’s ability to purchase things from other sectors is zero…
        
        That is incorrect….
        
        Downsizing
        Equity release
        Re-mortgage
        Sale to spend etc
        
        The housing market impacts inflation…directly and indirectly…
        
        CPI is laughable…if it wasn’t so serious…
  - alwyn 2.1.2
    
    28 February 2018 at 9:51 am
    
    As you will see from the other response you have received your aim is very sensible but, when you consider the economic ignorance of most people commenting on this site, quite futile.
    I think a lot of them are disciples of the late Major Douglas.
    Mind you, the comments that occur quite frequently on what the Open Bank Resolution Policy is supposed to do are even more ridiculous.
    - Phil 2.1.2.1
      
      28 February 2018 at 9:55 am
      
      Mind you, the comments that occur quite frequently on what the Open Bank Resolution Policy is supposed to do are even more ridiculous.
      
      Amen, brother.
      - Stuart Munro 2.1.2.1.1
        
        28 February 2018 at 10:31 am
        
        And of course it is only by rubbishing public argument that the fraudulent standard can be maintained.
        
        Because of course excluding housing inflation is every bit as political an action as you claim including it would be.
        
        “Amen brother.”
        
        Indicates that contemporary economics is a cult, rather than a rational discipline that responds to real world indicators.
    - Zorb6 2.1.2.2
      
      28 February 2018 at 9:57 am
      
      @Alwyn ,perhaps you would like to explain why NZ needs an OBR.
      Bearing in mind of course that we basically have the same banks as in Australia,where depositors insurance is the relevant factor.
      - Phil 2.1.2.2.1
        
        28 February 2018 at 12:11 pm
        
        (One of two)
        
        If you take a step back and think about any major banking failure, there are a spectrum of options available to bank owners and/or or the government.
        
        At one end of the spectrum is: walk away and let the company die. The company then goes into liquidation.
        
        We’ve seen from the finance company failures here in NZ what that means; depositors funds are completely locked up in the liquidation process for literally years, and distributed back out in very small chunks by the liquidator.
        
        If that happened to one of the major banks, then there would be huge consequences for people and the economy – all your deposit money would be locked up. You wouldn’t be able to pay for day to day goods and services, and your savings in the bank might be completely wiped out.
        
        ***
        
        At the other end of the spectrum is: find a new owner to buy the bank, or give it a government bailout.
        
        In the case of a major New Zealand bank, the only likely private-sector buyers out there today are the Chinese banking behemoths that have a small presence here (ICBC, Bank of China, China Construction Bank). A government bailout, on the other hand, would have to be in the multiple billions of dollars to stabilize a big NZ bank.
        
        Both of these bail/buy-out options have some politically unpalatable consequences for a Minister of Finance to think about.
      - Phil 2.1.2.2.2
        
        28 February 2018 at 12:24 pm
        
        (Two of two)
        
        OBR is designed to give a Minister of Finance an alternative ‘tool in the kit’ if they have to deal with a bank failure. Keep in mind that the RBNZ cannot invoke OBR itself – the Minister has to give that approval.
        
        The idea behind OBR is that re-opens a bank the morning after failure and gives depositors access to most of their (now government guaranteed funds) funds immediately. The frozen portion of deposits remains in the hands of the statutory manager/liquidator while they work out exactly what the losses are and liquidate the bank. There’s definitely a much better chance of a depositor getting back 100% of their deposit in an OBR scenario, compared to a straight insolvency liquidation of a bank.
        
        The other thing to keep in mind is that if OBR is invoked, the first thing that happens is shareholders (i.e. the Aussie owners) are completely wiped out. They have no more control over the bank and their capital stake in the bank is written off.
        
        Zorb6 2.1.2.2.2.1
        
        28 February 2018 at 12:49 pm
        
        A very good explanation of how the OBR works.Can you now explain why we need one and the Australians don’t and how it is better for customers than deposit insurance.
        
        Draco T Bastard …
        
        28 February 2018 at 3:07 pm
        
        Who pays for the deposit insurance?
        
        Think about that for a second or two.
        
        alwyn …
        
        28 February 2018 at 5:30 pm
        
        It isn’t just who would pay for deposit insurance. Even more importantly it would be who provides it?
        The only possibility is the taxpayers of New Zealand. Do we really want the New Zealand taxpayers bailing out the customers of a failing bank?
        Here are a couple of RBNZ papers you may find of interest. On the other hand Phil gave a very good summary and you may like to stop there.
        https://www.rbnz.govt.nz/regulation-and-supervision/banks/open-bank-resolution
        The FAQS will probably answer most of your questions.
        https://www.rbnz.govt.nz/faqs/open-bank-resolution-policy-faqs
        
        Pat …
        
        28 February 2018 at 10:34 pm
        
        consider the possibility of a depositors insurance default….if a NZ bank folds it is likely as a result of a domino effect from larger offshore bank failures….it is highly conceivable that any deposit insurer will be caught up in such an event and be unable or unwilling to pay
        
        One Two 2.1.2.2.2.2
        
        28 February 2018 at 3:12 pm
        
        Why do only 2 (at last check) nations have an OBR…
        
        Zorb6 …
        
        28 February 2018 at 4:20 pm
        
        Interesting observations re OBR and deposit insurance.
        https://www.interest.co.nz/personal-finance/63948/nz-doesnt-have-deposit-insurance-due-moral-hazard-and-difficulties-defining
        
        alwyn …
        
        28 February 2018 at 5:41 pm
        
        If you read down to Russel Norman’s comments you will get this.
        “If National implement Open Bank Resolution as planned, everyday people’s savings can be made available to bail out their bank if it was to fail,” said Green Party Co-leader Dr Russel Norman.
        “This is almost unprecedented in the developed world. Open Bank Resolution allows our major banks to get off scot-free from having to pay insurance premiums to protect their customers’ savings – premiums banks have to pay everywhere else.”
        
        That bit about the customers “bailing out the bank” is typical of the stupid comments made on this topic. The bank isn’t being bailed out. The bank owners will have lost everything before any customer loses a cent. The shareholders simply won’t own anything to be bailed out.
        
        Zorb6 …
        
        28 February 2018 at 6:35 pm
        
        Everything Norman states in the quote you provide. is fact.If banks have creditors that include other banks ,how does the OBR apply to them ?Only Israel and NZ have this scheme.I wonder why .
        The Reserve Bank-‘The OBR is therefore not designed to determine how the bank failure should be resolved in the long term, but to create time for a full analysis of the appropriate course of action to be determined. In practice, the OBR is consistent with a range of long-term solutions, including sale to new owners, restructuring to become a stand-alone bank, repurchase by a parent group, government recapitalisation or liquidation.’
        So Govt recapitalisation=’bail out’by taxpayers.
        
        alwyn …
        
        28 February 2018 at 7:20 pm
        
        You don’t seem to understand.
        What Norman said was very misleading. Understandable of course as he was deliberately trying to make people think that the banks were going to steal their money. Not very honest but Norman wasn’t, was he?
        
        All that would happen in the OBR would be that a quick decision would be made on the maximum amount of losses that the bank could incur. Sufficient money would be reserved from the depositors in the bank to cover that and then all the rest of their deposits would be immediately available to them. They would be able to withdraw the lot if they wanted to.
        
        Then the real work would start, The money kept back from the depositors with the bank would not be permanently taken if the reconstruction of the bank, or its liquidation or sale or whatever meant that after lower ranking creditors, starting with the shareholders provide enough money to pay all the debts.
        
        However what ever happens the owners of the bank will have lost everything before the depositors permanently lose even a single cent
        Generally bail out is interpreted as being that the shareholders don’t lose. That is not going to happen.
        
        Why don’t you read what the RBNZ has to say about it. If you read the FAQs you should be able to understand what happens
        
        Zorb6 …
        
        28 February 2018 at 7:52 pm
        
        @Alwyn.I understand very well,and have provided info from the RB in my last paragraph.
        As you seem to be so knowledgeable,what happens if Bank A has large exposure to Bank B,who has exposure to Bank C ,who has exposure to,Bank A.Are other banks paid out as every other ranking creditor?
        Areyou aware of an example where the OBR has been enacted?Norman was misleading only by your personal interpretation.You are misleading as you imply thereis no chance of a taxpayer bailout with the OBR,triggered.Quite clearly,you are wrong.
        
        Phil …
        
        1 March 2018 at 12:38 pm
        
        hat happens if Bank A has large exposure to Bank B,who has exposure to Bank C ,who has exposure to,Bank A.Are other banks paid out as every other ranking creditor?
        
        The answer is: it depends. There’s an entire corporate insolvency industry that is dedicated to determining who owes how much to who and what priority order do creditors have.
        
        In the case of OBR, a bank must ‘pre-position’ most types of liabilities (e.g. retail deposits) on its balance sheet. Pre-position means (1) calculate overnight how much of a haircut needs to be frozen on each account and (2) give the account holder access to the unfrozen portion the next morning.
        
        Other forms of liabilities are not pre-positioned. That means the liability is frozen in full, and remains fully frozen, until the insolvency manager decides to pay out. Fully frozen liabilities would include things like IR and ForEx derivatives, subordinated debt securities, and 90-day bank bills.
        
        Most bank exposures to other banks would be in the form of instruments that are not pre-positioned for OBR, and therefore would be fully frozen.
        
        Phil …
        
        1 March 2018 at 12:46 pm
        
        Only Israel and NZ have this scheme [OBR].I wonder why .
        
        The GFC was a huge wake-up call for financial authorities across the globe for a lot of reasons.
        
        In an NZ context, there was a realization across government and financial regulators that the mechanisms and tools legally available to them, for dealing with a failing bank, were insufficient. OBR is an additional tool in the kit that the Minister of Finance can use to reduce the risk of a bank failure causing contagion across the rest of the financial sector and out into other business/individual customers.
  - greywarshark 2.1.3
    
    28 February 2018 at 11:59 am
    
    PhilJ
    Seems a self-indulgent circular argument you have given. The plan for the CPI has been constructed a certain way to deliberately leave the price of housing out of it, with a convenient rationale established to explain that.
    
    The CPI gives a false sense of national inflation as it is. It needs changing to make it a real indicator of the real situation.
    - Phil 2.1.3.1
      
      28 February 2018 at 1:01 pm
      
      It’s not self indulgent or circular at all. The CPI doesn’t stand in glorious isolation measuring whatever takes the whim of the Government Statistician from one day to the next.
      
      The CPI is part of a huge suite of important macroeconomic statistics that describe NZ’s place in the world – GDP, Balance of Payments, Unemployment rate being the three other of the “big four” high profile statistics. The CPI has to have a coherent set of principles and methodologies behind it in order to be useful or meaningful.
      
      The fundamental question that CPI’s have always had to answer is this: How much is the cost of Consumers, dealing with other sectors of the economy, changing?
      
      Like I said above, the costs associated with residential property are included (rentals, new construction, agent fees etc) but the cost of me buying a house from you doesn’t factor in, in exactly the same way that if we traded shares on the NZX or I bought a corporate bond from you in the secondary market doesn’t factor in either.
      - Ad 2.1.3.1.1
        
        28 February 2018 at 1:33 pm
        
        CPI basket gets changed reasonably often – in fact did so recently.
        Right question to ask.
        
        Macro 2.1.3.1.1.1
        
        28 February 2018 at 2:17 pm
        
        I worked on the CPI in the Research Branch of Dept of Statistics in 1967 and well remember adding up the cost of Housing long-hand – only one electric adding machine in the office – and calculating means and standard deviations of each basket to 7 decimal places. Yes the cost of the purchase of a house was included in those years as depreciation was a factor in the cost of home ownership. As you say the CPI does get changed fairly regularly. Phil’s observations above are correct only for the last decade or so. An historical list of changes to the Housing baskets is here:
        Housing and household utilities
        Electricity, gas, and solid fuels were included from 1914.
        Housing rentals were included from 1914.
        From 1949, a ‘use’ conceptual framework was used, with a weighting pattern based on actual or notional consumption.
        Home ownership was added in 1949. A ‘user-cost’ approach was adopted, incorporating depreciation, return on capital, repairs and maintenance, local authority rates, and dwelling insurance.
        Fees associated with the purchase and sale of dwellings (such as real estate agent and conveyancing fees) were included from 1965.
        From 1974, an ‘expenditure’ approach was adopted. In practice, this combined elements of the ‘acquisition’ and ‘payment’ conceptual frameworks. The new approach to measuring home ownership included the purchase of new and previously occupied dwellings, the purchase of residential sections, expenditure on alterations and additions to existing dwellings, land, interest payments on new mortgages, repairs and maintenance, local authority rates, and dwelling insurance.
        From 1980, there was fuller netting of house purchases/sales (which led to a lower weight), but the weight on mortgage interest was increased to cover all mortgages existing in the weight reference period.
        From 1974 until 1993, prices of both previously occupied and new dwellings were tracked. From 1993, prices of only new dwellings were tracked (this aligned more closely with the weight allocated to home ownership, which represented the value of the net increase in the stock of owner-occupied housing during the weight reference period).
        From 1999, an ‘acquisition’ conceptual framework was formally adopted. Mortgage interest payments and the purchase of residential sections (land) were removed from the scope of the index. An analytical ‘all groups plus interest’ series remains available.
        From 2006, a new method was adopted for estimating the weight for home ownership (which led to a lower weight). The method better reflected the falling rate of home ownership.
        My bold
        http://archive.stats.govt.nz/browse_for_stats/economic_indicators/CPI_inflation/historical-cpi-info/historical-cpi-baskets.aspx
        
        Ad …
        
        28 February 2018 at 3:08 pm
        
        Excellent to have your level of statistical expertise brought to bear here Macro.
        
        Finally helps make some sense of your pseudonym.
        
        Macro …
        
        28 February 2018 at 4:09 pm
        
        Actually Ad, my pseudonym – like Lprents originates from the early days of user names and logging in to the university computer systems – Initials and first few letters of your surname. 🙂 But it fits with my past in computing, mathematics, statistics, and economic interests, and I have never seen a need to change it
        
        Phil …
        
        28 February 2018 at 5:50 pm
        
        Thanks Macro, that’s a useful history I was not fully aware of.
        
        worked on the CPI in the Research Branch of Dept of Statistics in 1967 and well remember adding up the cost of Housing long-hand – only one electric adding machine in the office – and calculating means and standard deviations of each basket to 7 decimal places.
        
        I worked on price indexes with Stats NZ from ’03 to ’06. Thankfully, we didn’t have to add anything by hand. We had a clunky IT system that would be left to run for a few hours (often overnight) to compile all the different levels of price indexes for analysis. We’d spend weeks going through reams and reams of output reports looking for erroneous or miscalculated prices of individual items.
        
        It was a… fun? good? … place to start my career.
        
        Macro …
        
        28 February 2018 at 6:43 pm
        
        It was a… fun? good? … place to start my career.
        
        It was a place to start my career too – I had initially joined supposedly to work on programming. 10 July 67 was when we changed to decimal currency (another Muldoon achievement) and the task was to convert the CPI from Pounds to Dollars. But the one computer was completely taken up with the census. I suspect it was for some time. Anyway as there was no programming to be done it was do it by pencil and paper and keep the CPI up to date as you do it! Long screeds of numbers – I would have nightmares at night – the recurring theme being that I reached the end of a column of numbers and had made an error! ahhhhh The office regime was that nobody talked – all day. We were too busy counting. I lasted half a year and left to work in the Research Branch of the Dairy Board where I actually got to do some programming.
      - greywarshark 2.1.3.1.2
        
        28 February 2018 at 2:08 pm
        
        PhilJ
        One thing that occurs to me immediately.
        
        The CPI is part of a huge suite of important [imported] macroeconomic statistics that describe NZ’s place in the world – GDP, Balance of Payments, Unemployment rate being the three other of the “big four” high profile statistics.
        
        The CPI has to have a coherent set of principles and methodologies behind it in order to be useful or meaningful.
        
        These imported standards are necessary for us to follow so we can fit into the jigsaw of the OECD countries. But if there was opportunity for us to calve off from the great mass just a little, would we even take it? We can’t afford to shake off other people’s dust off our shoes, they have turned into concrete boots, and we’re afraid they would take us for a little ride to a new building site.
        
        We are hocked in private debt up to our eyeballs, and need to borrow all the time to keep afloat. The last figures I heard our exports and earnings were up (trumpet rock star economy on a downward note please) as both our imports and debt were up, that rise having chewed up all our great increases. And we need infrastructure and machinery, so we need to lessen our expenditure on flim-flam, clooooothhhes also which are piling up to go to the dump, with hardly anything wrong with them, toys, shiny things that lose appeal and the nose gets broken, so out.
        
        Pity we can’t do that with our economists and pollies who won’t stand for listening to our spleen, from us moaners. They may find a way to remove them and sell them as we hear disturbing stories from the Falang Gong in China!
        
        We have to grow up and lose our obsession for our Marvelous Toys and release ourselves from the spell of accompanying debt.
        (https://www.youtube.com/watch?v=vvmyxTm6hkg
        
        Phil 2.1.3.1.2.1
        
        28 February 2018 at 6:08 pm
        
        These imported standards are necessary for us to follow so we can fit into the jigsaw of the OECD countries. But if there was opportunity for us to calve off from the great mass just a little, would we even take it?
        
        There’s literally nothing stopping us from creating additional, alternative, measures of things like GDP or CPI. Bhutan has a measure of ‘gross national happiness’ that they tout as an alternative to GDP and, at various times in NZ history, we’ve published things like a Superannuitants CPI.
        
        The problem is, there are really good reasons why we want to compare and measure NZ against other countries on a (as much as realistically possible) consistent basis. That could be for direct investment decisions, trade agreements, assessing the effectiveness of social policy changes, or any manner of other international interaction.
Antoine 3

28 February 2018 at 9:05 am

Can’t see this Govt ending the independence of the Reserve Bank

A. It would look bad to the electorate
B. It would be a lot of work and distract from other priorities.

A.
ropata 4

28 February 2018 at 9:49 am

Sick of Aussie banks draining $4 billion per annum from the economy?

NZ should follow the example of Iceland and remove the power of commercial banks to create money, making the Reserve Bank the sole issuer.

https://www.telegraph.co.uk/finance/economics/11507810/Iceland-looks-at-ending-boom-and-bust-with-radical-money-plan.html

http://www.positivemoney.org.nz/
- gsays 4.1
  
  28 February 2018 at 10:12 am
  
  At the risk of sounding like a toddler joining in a conversation on quantum physics, I agree ropata.
  
  I understood most of what was in advantage’s post, in respect to unelected officials, and yet we have these foreign companies siphoning billions of dollars a year away and essentially unaccountable.
  
  Iceland, to the best of my knowledge, were the only country to lock up the banksters in the wash-up of the 2007/8 greed-a-thon.
  
  I would rather follow Icelandic example than kowtowing for fear of the Dr King example.
  - Brigid 4.1.1
    
    28 February 2018 at 1:15 pm
    
    And I agree also.
    What good reason is there to allow foreign owned companies to control our monetary system? Why can the Reserve Bank not issue mortgages as private banks do?
    And actually it was ‘disciples’ (as Alwyn puts it) of Major Douglas, whose theories were put into practice that created the State Advances loan.
    This allowed previous generations the opportunity to own their own homes and with that the attendant societal benefits of security and general well being.
    
    But enough with the “At the risk of sounding like a toddler joining in a conversation on quantum physics” forelock pulling.
    
    I’d put my money on your points than circular, patronising, navel gazing rhetoric from 99.999% of economists.
    - Ad 4.1.1.1
      
      28 February 2018 at 1:32 pm
      
      Reserve Bank is a regulator not a retailer.
      
      Kiwibank is the state-backed loan retailer.
      
      State Advances certainly helped a few of my relatives into their first house.
      - gsays 4.1.1.1.1
        
        28 February 2018 at 4:23 pm
        
        So what does it take to go from regulator to retailer?
        Vision, courage and a couple of pieces of legislation.
        
        Let’s do this.
        
        Phil 4.1.1.1.1.1
        
        28 February 2018 at 6:12 pm
        
        So what does it take to go from regulator to retailer?… Let’s do this
        
        For those of you not familiar with how the RBNZ interacts with registered banks, a more tangible thought experiment would be:
        
        “There’s too much crime. The Police should start committing crime.”
        
        ropata …
        
        28 February 2018 at 7:00 pm
        
        Interesting analogy, the commercial banks are indeed criminal enterprises.
        
        The BNZ was founded by Thomas Russell, architect and beneficiary of the Waikato war & the destruction of the indigenous nation of Waikato. The bank's vaults are stained with blood & stolen soil. How's that for a history of 'supporting diversity'? Let's be honest about the past. https://t.co/JYFyZARJaJ— Scott Hamilton RTM (@SikotiHamiltonR) February 25, 2018
        
        Hence the need for the “cops” to control the money supply
        
        patricia bremner …
        
        28 February 2018 at 9:06 pm
        
        Yes Ropata, we need more true history, and better control of banks.
        
        Phil …
        
        1 March 2018 at 12:54 pm
        
        Hence the need for the “cops” to control the money supply
        
        We already have an RBNZ “cop” that requires banks to comply with capital, liquidity, and a myriad of other regulatory standards that reduce the capacity of a bank to lend freely and inflate the money supply beyond acceptable levels.
        
        gsays …
        
        28 February 2018 at 11:19 pm
        
        For analogies to work, they have to be simple.
        If RBNZ went from regulator to retailer, the nation is 4B$ better off annually, there is no victim.
        Cops committing crime= lots more victims.
        Analogy fails to hold water.
        What am I missing?
        
        Phil …
        
        1 March 2018 at 1:08 pm
        
        If RBNZ went from regulator to retailer, the nation is 4B$ better off annually, there is no victim.
        
        No, we wouldn’t be.
        
        One of the reasons banks (in particular, the big-4 Australian-owned ones) make a lot of money is because they can borrow cheaply on the reputational backing of both their parent bank in Australia and the reasonable stability of the NZ economy.
        
        If you switch those banks over to being NZ-owned or controlled by the RBNZ, they lose the reputational backing of the parent and will have to pay more in financial markets to get funding. This is why banks like Kiwibank, Heartland, and TSB (for example) have to pay higher interest rates for their long term wholesale market funding than an ANZ or Westpac does.
        
        But, you might say, the RBNZ is backed by the Government! Governments can borrow cheaply!
        
        Well, that’s true of the NZ government right now, when it has debts of approximately $80b NZD. But, by taking over the big-4 banks, it would be loading itself up with an additional $490b NZD in debt.
        
        Would it still be able to borrow as cheaply? Definitely not.
        Would it even be able to borrow at all? Hard to say… probably not. We certainly wouldn’t be considered as stable and secure an economy as we currently are now.
        
        gsays …
        
        1 March 2018 at 2:33 pm
        
        Thanks for your response, Phil.
        Rather than borrow from overseas, couldn’t the government issue/print the cash then tax it back?
        
        Phil …
        
        1 March 2018 at 3:54 pm
        
        Sure, the Government could print the money but that would, in all probability, lead to the kind of rampant inflation we haven’t seen in NZ since the 70’s.
        
        mikes …
        
        1 March 2018 at 5:48 pm
        
        Don’t listen to Phil the bank Shill. The inflationary effect of the government creating a billion dollars itself is exactly the same as the inflationary effect of the government borrowing a billion dollars.
        
        mikesh …
        
        1 March 2018 at 2:28 pm
        
        It is not the Police’s job to regulate crime, but to oppose and prevent it.
        
        A poor analogy.
    - gsays 4.1.1.2
      
      1 March 2018 at 2:35 pm
      
      Cheers Brigid.
      Part of the toddler idea is to have people explain things in simple terms.
- SPC 4.2
  
  28 February 2018 at 2:01 pm
  
  I’m a bit of a moderate on this.
  
  A neutral mechanism for the allocation of finance is an essential part of the free market. To prevent public control of access to finance to private enterprise.
  
  That said a model where the regulator (QE) and the taxpayer bails out private sector greed is unbalanced and only leads to public debt and rising inequality in wealth (asset ownership) – until system collapse that is (and we came close and government is now less able to intervene).
  
  The system needs to be re-geared to enable public finance for investment (without debt) if we (the nation state) are to survive the next 2008.
  
  There should be agreed international rules about the extent of this as a proportion of the economy (within a range dependent on economic cycles).
  
  The IMF has indicated an awareness of this issue and has looked at alternative monetary systems to the current model. It should move to support changes before a 2008 reprise – to prevent one happening and or to have the means to respond in place.
greywarshark 5

28 February 2018 at 12:04 pm

Thanks Ad for such a thought provoking post which is about more than house prices by the way. Feel free everyone to have a thought and pass it on. This is something that may not be even understood by Dr Don Brash (his disagreement with Bank of England dogma as discussed by Bryan Gould for instance).

So don’t be backward, be brash and have your say or question about whether our Reserve Bank is helping this country progress healthily through shark filled waters. The mere fact that we didn’t get wipied out in the GFC is not sufficient to enable us to be complacent.
Tamati Tautuhi 6

28 February 2018 at 1:21 pm

The Ozzie Banks are stripping the guts out of New Zealand, would be great to see them take a haircut when the property market crashes ?
- alwyn 6.1
  
  28 February 2018 at 5:52 pm
  
  If the property market was to crash the real sufferers would be the house owners, not the banks providing the mortgages.
  There are a couple of things to remember. The first is that a mortgage recovery is not limited to the property over which the mortgage is held. We are not like the US where a home owner can drop the keys of the property off at the bank and walk away. They will have lost all their equity in the property but can’t be chased any further. That is not the case here.
  Additionally of course for the banks to be even mildly embarrassed would require an enormous drop in prices. If most properties have at least a 20% owners equity prices overall would have to drop by more than 20% to affect the banks by even a trivial amount.
  I do not, for the sake on New Zealand, want to see a crash on the scale you seem to want just to provide you with some amusement.
SPC 7

28 February 2018 at 2:21 pm

One could do well to look how an independent but limited in tools RB caused a recession here in 2007/8 before the GFC with a high interest rate (and high dollar) policy. It knew this was dumb but to fulfil its role as controller of inflation it felt it was left with no other choice.

Bollard asked the government to consider a mortgage surcharge so it would not have to keep lifting the OCR. English said it would be a brave (politically risky) move and Cullen did nothing.

Since then, the deposit ratio tool has been used to restrain house price inflation (applied very poorly by the way – it should have been 10% first home buyers 30% investors at first and then 15/40, then 20/40 at the peak of the market and now 15/40).

Have you considered the politics of government control of the OCR (being blamed for each mortgage increase) and the issue of mortgage finance, setting deposit and income criteria for mortgage finance?

PS I was recommending Cullen apply a mortgage surcharge long before Bollard did, it was the only way to prevent a recession that would doom the government and public sector finances. And such a surcharge is a very good source of revenue.
- Draco T Bastard 7.1
  
  28 February 2018 at 3:23 pm
  
  One could do well to look how an independent but limited in tools RB caused a recession here in 2007/8 before the GFC with a high interest rate (and high dollar) policy.
  
  That’s
  a) Overly simplistic and
  b) wrong.
  
  Have you considered the politics of government control of the OCR (being blamed for each mortgage increase) and the issue of mortgage finance, setting deposit and income criteria for mortgage finance?
  
  The government doesn’t control the OCR – the RBNZ does.
  
  And, as far as I can make out, interest rates are a poor way of managing money creation in the economy.
  - SPC 7.1.1
    
    28 February 2018 at 7:22 pm
    
    1. It is the generally accepted reason for our recession in 2007/8.
    
    2. I was not referring to what is, but what is being proposed (see topic of thread)
    
    3. Interest rates are not a way of managing money creation but allocation.
    - Draco T Bastard 7.1.1.1
      
      28 February 2018 at 8:08 pm
      
      1. [Citation Needed] (I heard that there was a drought that year)
      2. Ah, fair enough. The government can provide loans at 0% interest of course.
      3. Incorrect. Private banks create money when they make a loan and interest is a way of managing loans thus interest is a way to control money creation by the private banks.
      - SPC 7.1.1.1.1
        
        28 February 2018 at 9:40 pm
        
        1. The drought (actually two, one in 2007 and another in 2008) was of less impact than the GDP decline over (6 quarters) March 2008 to June 2009. It was the rising OCR which took out the finance companies etc and slowed new housing construction for years afterwards (leading to the lack of supply). The drought was of course something unforeseen by the RB in its plan to stifle inflation but not the cause of the recession. Also unforeseen was the GFC in late 2008. Of course our self induced recession through a high OCR was soon sorted by the quick and large reduction of it (as the GFC killed of global inflation).
        
        3. I’ll stay with my opine, the OCR is a way in which the RB tries to impact on the allocation of money through cost/interest.
        
        Draco T Bastard 7.1.1.1.1.1
        
        1 March 2018 at 6:47 am
        
        1. [Citation Needed]
        
        3. Which is wrong and sticking with a wrong opinion is foolish. It’s not allocation – it’s borrowing altogether. A higher OCR is there to push up interest rates to decrease borrowing. And as borrowing creates more money (See BoE research) then it can only be to control the amount of money being created by the private banks.
        
        Phil …
        
        1 March 2018 at 1:19 pm
        
        A higher OCR is there to push up interest rates to decrease borrowing. And as borrowing creates more money (See BoE research) then it can only be to control the amount of money being created by the private banks.
        
        That’s half right.
        
        The OCR does indeed have an impact on money supply because the OCR directly affects interest rates, and changes in interest rates affect the willingness of NZers to borrow and/or save.
        
        But the OCR also has an impact on the exchange rate and the relative attractiveness of NZD denominated investments versus other currency investments on the world stage. This, in turn, affects the quantity and price of our imports and exports, which are a major part of the GDP and inflation picture in New Zealand.
        
        mikesh …
        
        1 March 2018 at 2:55 pm
        
        The interest that a borrower can afford to pay determines how much he can borrow. Therefore land taxes, or other property taxes, which impact on what a borrower can afford, will have a negative impact on bank lending. This of course is why banks favour capital gains taxes; they figure if one must have a tax on property it is preferable to have one that doesn’t affect interest rates or lending.
Macro 8

28 February 2018 at 4:39 pm

Totally agree Ad with the tenor of the post here today. The abdication of governmental responsibility perpetrated from 1984 onwards with the devolution of central control, the outsourcing of governmental works, and the hiring of CEO’s from outside the public service, meant that the concept of public service, as understood in the past, has largely gone.
Ministers may have responsibilities for Departments and areas of Governmental policy – but essentially they are beholden to their Departments. You recall Muldoon as a micro manager – well I recall the phone calls in 1967 we would get almost on a daily basis from him – what would be the effect on the CPI if the price of bread was raised by 1p? Yes that was a question we got, and lots of pencil sharpening and working late that day.
On another occasion – now working on the Naval Staff in the late 70’s – I had to attend a Cabinet Economic Committee meeting to report on the progress of the Resource Protection Vessel then under consideration. Muldoon was the PM. At that meeting they were also considering whether or not to raise the price of wheat. One of the ministers was objecting saying – “How are farmers to manage?”
Muldoon – “I think they manage pretty much like we do”
Minister – “How is that Prime Minister?”
Muldoon – “Oh swing and a hit! swing and and a miss!”
The electrification of the main trunk line was also approved at the meeting! One of the great achievements of that Government IMHO. That was definitely a Hit.
- patricia bremner 8.1
  
  28 February 2018 at 9:38 pm
  
  Were you at the meeting that decided the Tiwai Aluminium deal? That was a big miss.
  
  What about those days when he didn’t hand over power. I thought the new arrangement was to avoid that happening again? Very interesting.
  - Macro 8.1.1
    
    1 March 2018 at 11:31 am
    
    I was on the Naval Staff at the time. Only attended a meeting with particular relevance to Naval acquisitions.
    I’m not saying Muldoon was a marvellous PM. But on one matter you have to give credit where credit is due. The electrification of the main trunk line was foresighted. It is a crying shame that it has never been completed past Hamilton.
    - patricia bremner 8.1.1.1
      
      1 March 2018 at 8:05 pm
      
      True.
- Ad 8.2
  
  28 February 2018 at 9:42 pm
  
  NZF’s big regional fund feels like Swing Miss Muldoonism.
  
  Even Sutch would blanch.
  - Macro 8.2.1
    
    1 March 2018 at 11:41 am
    
    I think we need to wait and see. The regions are in desperate need of investment. In our town over the past 3 years there have been 2 mill closures and the closure of the 150 year old foundry A & G Price) – that’s the loss of well over 300 jobs in a town of 7500. Our local food bank has increased the number of food parcels issued last year by 12%. There is on average only 1 house for rent at any one time. There are at least a dozen people sleeping rough in our town every night.
    The billion trees (once a commitment from the Clark Govt that never eventuated) also needs funding.
    - Ad 8.2.1.1
      
      1 March 2018 at 2:47 pm
      
      Fair.
      
      That sounds like a tough town.
      - Macro 8.2.1.1.1
        
        1 March 2018 at 3:53 pm
        
        I think that is the reality of many a town in the regions Ad.
        
        Working people in Christchurch are increasingly turning to charities to feed their families amid a boom in the use of food banks due to spiralling living costs.
        
        High rental prices and squeezed incomes have triggered a sharp rise in those forced to rely on handouts to put food on their tables, the Salvation Army says.
        
        Between July and September, it gave 1452 food parcels to families and individuals in Christchurch, a 12.2 per cent increase from the 1294 given out during the same period in 2016.
        
        Across New Zealand there was a similar pattern, with 28,000 needing help with food in the year to September, up 13 per cent on the previous 12 months.
        
        https://www.stuff.co.nz/the-press/news/99034498/rise-in-working-people-relying-on-charities-for-food-as-living-costs-soar
        
        Ad 8.2.1.1.1.1
        
        1 March 2018 at 5:24 pm
        
        So true.
        
        I confess I tend to hang in boom towns like Auckland, Queenstown and Wanaka, and I don’t remind myself enough of life beyond unless I’m in some tourist enclave doing something adventuresome.
        
        Cheers for the reminder.
Pat 9

28 February 2018 at 10:09 pm

“The other problem is long term debt. It remains New Zealand’s highest economic risk. With interest rates so low for so long, it is natural for private mortgage debt to go through the roof. That’s at the feet of Reserve Bank settings.”

Its true that long term debt is a problem….however the greater problem is the cause of that debt…..trade imbalance and the the consequent foreign financing…..but in reality none of this is of great import when the poles are melting
- Phil 9.1
  
  1 March 2018 at 1:30 pm
  
  the greater problem is the cause of that debt…..trade imbalance and the the consequent foreign financing
  
  NZ, as a nation, has lived beyond its means pretty consistently since at least the 1950’s. This isn’t a new phenomenon at all.
  - Pat 9.1.1
    
    1 March 2018 at 5:22 pm
    
    even earlier….not being a new phenomenon dosnt diminish the problem however….its what it forces us to do that is the problem …..foreign ownership and unsustainable immigration are the latest way of dealing with it….or rather not dealing with it…..how long do you think thats going to continue?
    - Phil 9.1.1.1
      
      2 March 2018 at 11:44 am
      
      not being a new phenomenon dosnt diminish the problem however
      
      Oh, for sure. I agree completely.
      
      I just wanted to ‘head off at the pass’ anyone who might have then claimed our foreign financing problem was just a neo-liberal/deregulation issue.
      - Pat 9.1.1.1.1
        
        2 March 2018 at 12:00 pm
        
        not just a neolib deregulation problem but those settings certainly limit the tools available to counter it.
- mikes 9.2
  
  1 March 2018 at 6:01 pm
  
  “Its true that long term debt is a problem….however the greater problem is the cause of that debt…trade imbalance and the the consequent foreign financing…”
  
  The cause of all debt is the debt based money system we live under. All money is created as debt, no debt = no money.
  
  Long term debt isn’t a problem in relative terms because the entire planet is in debt.
  - Pat 9.2.1
    
    1 March 2018 at 7:25 pm
    
    no debt= no money
    
    not necessarily so though thats irrelevant to the point in discussion….the form of that debt is important…as the MMT advocates note domestic debt is of lesser concern…offshore however is another kettle of fish…and offshore debt is our problem
    - mikes 9.2.1.1
      
      2 March 2018 at 12:21 am
      
      Yes necessarily so (apart from actual notes and coins which are only around 3% of all money). The other 97% of the entire money supply is owed to some person (legal person). The only way to create new money in our fiat monetary system is by a person (legal person) borrowing it into existence.
      
      So paying off debt is always a balancing act between lowering either public or private debt and raising the other. You can’t lower both. Lowering both = severe deflation. (No borrowing = no new money entering the economy = economy nose dives)
      
      If the government starts paying off public debt and not borrowing to spend into the economy on infrastructure, etc, then the private sector must increase debt and spending to make up shortfall. (No government borrowing and spending = less money circulating in the economy = no economic growth = deflation)
      
      If the private sector starts paying off debt rather than borrowing and consuming then the government must increase public debt by borrowing and spending into the economy on infrastructure, etc to make up the shortfall. ( No private sector borrowing = not enough new money being created to cater for economic growth = no economic growth = deflation).
      
      Every country (except the five tiny countries of Macau, British Virgin Islands, Brunei, Liechtenstein and Palau) on the planet are up to their eyeballs in debt and the total of all that debt at a guess would be about equal to the total GDP of the world or all of the money in the world.
      
      99% of the adult population (workers and taxpayers) are collectively entrapped in a cycle of deliberate, continuous, never ending debt, which can never be repaid and most of them don’t even know it.
      
      As an aside I would / will find it interesting to see at what point most people will wake up enough to take actual real action. Every time we hear about the percentage of money and wealth owned by the top 1% that percentage has gone up again, but still people seem apathetic.
      
      Will the tipping point be when the top 0.1% own 50% of all the money and wealth? 75%? 95%? Will we get to a state where a very small number of people have 100% of the money and own everything on the planet whilst the rest of the worlds billions of people have nothing at all and are probably legally owned (slaves) by that stage anyway? (assuming the entire monetary and financial system doesn’t collapse completely first which is a big assumption)
      
      Does anybody with even an ounce of smarts truly believe that things such as the TPPA are going to slow down or reverse that trend globally, or is it clear to everyone that such things are deliberately designed to accelerate that trend??
      
      Does anyone want to bet or guess how long after we sign the TTPA it will be before a single currency union between the signed on countries is legislated into existence by unelected officials?
      
      Isn’t it blatantly obvious where more and more centralization of power will eventually lead us?
      
      Anyways, more importantly, wonder what happened on Married at First Sight this week…….Ohh, wonder what Kaitlin Jenner’s wearing this week….Ohhh the Bachelor…..Ohhh trigger warnings……Ohhhh…..twitter…ohhh… red/blue …left/right… (sigh..)
      - Pat 9.2.1.1.1
        
        2 March 2018 at 8:32 am
        
        If you wish to now specify money as fiat then yes (we will ignore commodity money and arguably crypto),,,but as previously stated the effects of domestic v offshore debt is very different.
        
        As the fiat money system runs entirely on confidence the fact that in the long run all debt of any form will never be repaid does not necessarily impact interactions as they occur in the present or even the short to medium term….I note the IMF have recently released a paper which essentially said that the trillions of debt is to be ignored…..and confidence is determined by the market perception of your ability to pay…..ask Greece, Venezuela or Zimbabwe.
Phil 10

1 March 2018 at 1:28 pm

(duplicate post)
R.P. Mcmurphy 11

3 March 2018 at 4:50 am

there should be more oversight from parliament but politicians to lazy and not bright enough so they have given in. Like doctors and lawyers and other specialists the RB hides behind their own jargon and technical terms when in actual fact it is all quite simple but as I said pollies too busy appeasing constituents to knuckle down and get to grips with the intricacys.

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3 hours ago

Can You Register a Car Without a License?
In most states, you cannot register a car without a valid driver’s license. However, there are a few exceptions to this rule. Exceptions to the Rule If you are under 18 years old: In some states, you can register a car in your name even if you do not ...
Gareth’s WorldBy admin
3 hours ago

Mazda: A Comprehensive Evaluation of Reliability, Value, and Performance
Mazda, a Japanese automotive manufacturer with a rich history of innovation and engineering excellence, has emerged as a formidable player in the global car market. Known for its reputation of producing high-quality, fuel-efficient, and driver-oriented vehicles, Mazda has consistently garnered praise from industry experts and consumers alike. In this article, ...
Gareth’s WorldBy admin
3 hours ago

What Are Struts on a Car?
Struts are an essential part of a car’s suspension system. They are responsible for supporting the weight of the car and damping the oscillations of the springs. Struts are typically made of steel or aluminum and are filled with hydraulic fluid. How Do Struts Work? Struts work by transferring the ...
Gareth’s WorldBy admin
3 hours ago

What Does Car Registration Look Like: A Comprehensive Guide
Car registration is a mandatory process that all vehicle owners must complete annually. This process involves registering your car with the Department of Motor Vehicles (DMV) and paying an associated fee. The registration process ensures that your vehicle is properly licensed and insured, and helps law enforcement and other authorities ...
Gareth’s WorldBy admin
3 hours ago

How to Share Computer Audio on Zoom
Zoom is a video conferencing service that allows you to share your screen, webcam, and audio with other participants. In addition to sharing your own audio, you can also share the audio from your computer with other participants. This can be useful for playing music, sharing presentations with audio, or ...
Gareth’s WorldBy admin
7 hours ago

How Long Does It Take to Build a Computer?
Building your own computer can be a rewarding and cost-effective way to get a high-performance machine tailored to your specific needs. However, it also requires careful planning and execution, and one of the most important factors to consider is the time it will take. The exact time it takes to ...
Gareth’s WorldBy admin
7 hours ago

How to Put Your Computer to Sleep
Sleep mode is a power-saving state that allows your computer to quickly resume operation without having to boot up from scratch. This can be useful if you need to step away from your computer for a short period of time but don’t want to shut it down completely. There are ...
Gareth’s WorldBy admin
7 hours ago

What is Computer-Assisted Translation (CAT)?
Introduction Computer-Assisted Translation (CAT) has revolutionized the field of translation by harnessing the power of technology to assist human translators in their work. This innovative approach combines specialized software with human expertise to improve the efficiency, accuracy, and consistency of translations. In this comprehensive article, we will delve into the ...
Gareth’s WorldBy admin
7 hours ago

iPad vs. Tablet Computers A Comprehensive Guide to Differences
In today’s digital age, mobile devices have become an indispensable part of our daily lives. Among the vast array of portable computing options available, iPads and tablet computers stand out as two prominent contenders. While both offer similar functionalities, there are subtle yet significant differences between these two devices. This ...
Gareth’s WorldBy admin
7 hours ago

How Are Computers Made?
A computer is an electronic device that can be programmed to carry out a set of instructions. The basic components of a computer are the processor, memory, storage, input devices, and output devices. The Processor The processor, also known as the central processing unit (CPU), is the brain of the ...
Gareth’s WorldBy admin
7 hours ago

How to Add Voice Memos from iPhone to Computer
Voice Memos is a convenient app on your iPhone that allows you to quickly record and store audio snippets. These recordings can be useful for a variety of purposes, such as taking notes, capturing ideas, or recording interviews. While you can listen to your voice memos on your iPhone, you ...
Gareth’s WorldBy admin
7 hours ago

Why My Laptop Screen Has Lines on It: A Comprehensive Guide
Laptop screens are essential for interacting with our devices and accessing information. However, when lines appear on the screen, it can be frustrating and disrupt productivity. Understanding the underlying causes of these lines is crucial for finding effective solutions. Types of Screen Lines Horizontal lines: Also known as scan ...
Gareth’s WorldBy admin
7 hours ago

How to Right-Click on a Laptop
Right-clicking is a common and essential computer operation that allows users to access additional options and settings. While most desktop computers have dedicated right-click buttons on their mice, laptops often do not have these buttons due to space limitations. This article will provide a comprehensive guide on how to right-click ...
Gareth’s WorldBy admin
7 hours ago

Where is the Power Button on an ASUS Laptop?
Powering up and shutting down your ASUS laptop is an essential task for any laptop user. Locating the power button can sometimes be a hassle, especially if you’re new to ASUS laptops. This article will provide a comprehensive guide on where to find the power button on different ASUS laptop ...
Gareth’s WorldBy admin
7 hours ago

How to Start a Dell Laptop: A Comprehensive Guide
Dell laptops are renowned for their reliability, performance, and versatility. Whether you’re a student, a professional, or just someone who needs a reliable computing device, a Dell laptop can meet your needs. However, if you’re new to Dell laptops, you may be wondering how to get started. In this comprehensive ...
Gareth’s WorldBy admin
7 hours ago

Bryce Edwards: Serious populist discontent is bubbling up in New Zealand
Two-thirds of the country think that “New Zealand’s economy is rigged to advantage the rich and powerful”. They also believe that “New Zealand needs a strong leader to take the country back from the rich and powerful”. These are just two of a handful of stunning new survey results released ...
Democracy ProjectBy bryce.edwards
7 hours ago

How to Take a Screenshot on an Asus Laptop A Comprehensive Guide with Detailed Instructions and Illu...
In today’s digital world, screenshots have become an indispensable tool for communication and documentation. Whether you need to capture an important email, preserve a website page, or share an error message, screenshots allow you to quickly and easily preserve digital information. If you’re an Asus laptop user, there are several ...
Gareth’s WorldBy admin
7 hours ago

How to Factory Reset Gateway Laptop A Comprehensive Guide
A factory reset restores your Gateway laptop to its original factory settings, erasing all data, apps, and personalizations. This can be necessary to resolve software issues, remove viruses, or prepare your laptop for sale or transfer. Here’s a step-by-step guide on how to factory reset your Gateway laptop: Method 1: ...
Gareth’s WorldBy admin
7 hours ago

The Folly Of Impermanence.
“You talking about me?” The neoliberal denigration of the past was nowhere more unrelenting than in its depiction of the public service. The Post Office and the Railways were held up as being both irremediably inefficient and scandalously over-manned. Playwright Roger Hall’s “Glide Time” caricatures were presented as accurate depictions of ...
Bowalley Road
10 hours ago

A crisis of ambition
Roger Partridge writes – When the Coalition Government took office last October, it inherited a country on a precipice. With persistent inflation, decades of insipid productivity growth and crises in healthcare, education, housing and law and order, it is no exaggeration to suggest New Zealand’s first-world status was ...
Point of OrderBy poonzteam5443
10 hours ago

Have 308 people in the Education Ministry’s Curriculum Development Team spent over $100m on a 60-p...
Rob MacCulloch writes – In 2022, the Curriculum Centre at the Ministry of Education employed 308 staff, according to an Official Information Request. Earlier this week it was announced 202 of those staff were being cut. When you look up “The New Zealand Curriculum” on the Ministry of ...
Point of OrderBy poonzteam5443
10 hours ago

'This bill is dangerous for the environment and our democracy'
Chris Bishop’s bill has stirred up a hornets nest of opposition. Photo: Lynn Grieveson for The KākāTL;DR: The six things that stood out to me in Aotearoa’s political economy around housing, poverty and climate from the last day included:A crescendo of opposition to the Government’s Fast Track Approvals Bill is ...
The KakaBy Bernard Hickey
11 hours ago

The Bank of our Tamariki and Mokopuna.
Monday left me brokenTuesday, I was through with hopingWednesday, my empty arms were openThursday, waiting for love, waiting for loveThe end of another week that left many of us asking WTF? What on earth has NZ gotten itself into and how on earth could people have voluntarily signed up for ...
Nick’s KōreroBy Nick Rockel
12 hours ago

The worth of it all
Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past week’s editions.State of humanity, 20242024, it feels, keeps presenting us with ever more challenges, ever more dismay.Do you give up yet? It seems to ask.No? How about this? Or this?How about this?Full story Share ...
More Than A FeildingBy David Slack
15 hours ago

What is the Hardest Sport in the World?
Determining the hardest sport in the world is a subjective matter, as the difficulty level can vary depending on individual abilities, physical attributes, and experience. However, based on various factors including physical demands, technical skills, mental fortitude, and overall accomplishment, here is an exploration of some of the most challenging ...
Gareth’s WorldBy admin
17 hours ago

What is the Most Expensive Sport?
The allure of sport transcends age, culture, and geographical boundaries. It captivates hearts, ignites passions, and provides unparalleled entertainment. Behind the spectacle, however, lies a fascinating world of financial investment and expenditure. Among the vast array of competitive pursuits, one question looms large: which sport carries the hefty title of ...
Gareth’s WorldBy admin
17 hours ago

Pickleball On the Cusp of Olympic Glory
Introduction Pickleball, a rapidly growing paddle sport, has captured the hearts and imaginations of millions around the world. Its blend of tennis, badminton, and table tennis elements has made it a favorite among players of all ages and skill levels. As the sport’s popularity continues to surge, the question on ...
Gareth’s WorldBy admin
17 hours ago

The Origin and Evolution of Soccer Unveiling the Genius Behind the World’s Most Popular Sport
Abstract: Soccer, the global phenomenon captivating millions worldwide, has a rich history that spans centuries. Its origins trace back to ancient civilizations, but the modern version we know and love emerged through a complex interplay of cultural influences and innovations. This article delves into the fascinating journey of soccer’s evolution, ...
Gareth’s WorldBy admin
17 hours ago

How Much to Tint Car Windows A Comprehensive Guide
Tinting car windows offers numerous benefits, including enhanced privacy, reduced glare, UV protection, and a more stylish look for your vehicle. However, the cost of window tinting can vary significantly depending on several factors. This article provides a comprehensive guide to help you understand how much you can expect to ...
Gareth’s WorldBy admin
18 hours ago

Why Does My Car Smell Like Gas? A Comprehensive Guide to Diagnosing and Fixing the Issue
The pungent smell of gasoline in your car can be an alarming and potentially dangerous problem. Not only is the odor unpleasant, but it can also indicate a serious issue with your vehicle’s fuel system. In this article, we will explore the various reasons why your car may smell like ...
Gareth’s WorldBy admin
18 hours ago

How to Remove Tree Sap from Car A Comprehensive Guide
Tree sap can be a sticky, unsightly mess on your car’s exterior. It can be difficult to remove, but with the right techniques and products, you can restore your car to its former glory. Understanding Tree Sap Tree sap is a thick, viscous liquid produced by trees to seal wounds ...
Gareth’s WorldBy admin
18 hours ago

How Much Paint Do You Need to Paint a Car?
The amount of paint needed to paint a car depends on a number of factors, including the size of the car, the number of coats you plan to apply, and the type of paint you are using. In general, you will need between 1 and 2 gallons of paint for ...
Gareth’s WorldBy admin
18 hours ago

Can You Jump a Car in the Rain? Safety Precautions and Essential Steps
Jump-starting a car is a common task that can be performed even in adverse weather conditions like rain. However, safety precautions and proper techniques are crucial to avoid potential hazards. This comprehensive guide will provide detailed instructions on how to safely jump a car in the rain, ensuring both your ...
Gareth’s WorldBy admin
18 hours ago

Can taxpayers be confident PIJF cash was spent wisely?
Graham Adams writes about the $55m media fund — When Patrick Gower was asked by Mike Hosking last week what he would say to the many Newstalk ZB callers who allege the Labour government bribed media with $55 million of taxpayers’ money via the Public Interest Journalism Fund — and ...
Point of OrderBy gadams1000
24 hours ago

EGU2024 – An intense week of joining sessions virtually
Note: this blog post has been put together over the course of the week I followed the happenings at the conference virtually. Should recordings of the Great Debates and possibly Union Symposia mentioned below, be released sometime after the conference ends, I'll include links to the ones I participated in. ...
Skeptical Science
1 day ago

Submission on “Fast Track Approvals Bill”
The following was my submission made on the “Fast Track Approvals Bill”. This potential law will give three Ministers unchecked powers, un-paralled since the days of Robert Muldoon’s “Think Big” projects.The submission is written a bit tongue-in-cheek. But it’s irreverent because the FTAB is in itself not worthy of respect. ...
Frankly SpeakingBy Frank Macskasy
1 day ago

The Case for a Universal Family Benefit
One Could Reduce Child Poverty At No Fiscal CostFollowing the Richardson/Shipley 1990 ‘redesign of the welfare state’ – which eliminated the universal Family Benefit and doubled the rate of child poverty – various income supplements for families have been added, the best known being ‘Working for Families’, introduced in 2005. ...
PunditBy Brian Easton
1 day ago

A who’s who of New Zealand’s dodgiest companies
Submissions on National's corrupt Muldoonist fast-track law are due today (have you submitted?), and just hours before they close, Infrastructure Minister Chris Bishop has been forced to release the list of companies he invited to apply. I've spent the last hour going through it in an epic thread of bleats, ...
No Right TurnBy Idiot/Savant
1 day ago

On Lee’s watch, Economic Development seems to be stuck on scoring points from promoting sporting e...
Buzz from the Beehive A few days ago, Point of Order suggested the media must be musing “on why Melissa is mute”. Our article reported that people working in the beleaguered media industry have cause to yearn for a minister as busy as Melissa Lee’s ministerial colleagues and we drew ...
Point of OrderBy Bob Edlin
1 day ago

New Zealand has never been closed for business
1. What was The Curse of Jim Bolger?a. Winston Peters b. Soon after shaking his hand, world leaders would mysteriously lose office or shuffle off this mortal coilc. Could never shake off the Mother of All Budgetsd. Dandruff2. True or false? The Chairman of a Kiwi export business has asked the ...
More Than A FeildingBy David Slack
1 day ago

Stop the panic – we’ve been here before
Jack Vowles writes – New Zealand is said to be suffering from ‘serious populist discontent’. An IPSOS MORI survey has reported that we have an increasing preference for strong leaders, think that the economy is rigged toward the rich and powerful, and political elites are ignoring ‘hard-working people’. ...
Point of OrderBy poonzteam5443
1 day ago

Melissa Lee and the media: ending the quest
Chris Trotter writes – MELISSA LEE should be deprived of her ministerial warrant. Her handling – or non-handling – of the crisis engulfing the New Zealand news media has been woeful. The fate of New Zealand’s two linear television networks, a question which the Minister of Broadcasting, Communications ...
Point of OrderBy Bob Edlin
1 day ago

The Hoon around the week to April 19
TL;DR: The podcast above features co-hosts and , along with regular guests Robert Patman on Gaza and AUKUS II, and on climate change.The six things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the ...
The KakaBy Bernard Hickey
1 day ago

The ‘Humpty Dumpty’ end result of dismantling our environmental protections
Policymakers rarely wish to make plain or visible their desire to dismantle environmental policy, least of all to the young. Photo: Lynn GrievesonTL;DR: Here’s the top five news items of note in climate news for Aotearoa-NZ this week, and a discussion above between Bernard Hickey and The Kākā’s climate correspondent ...
The KakaBy Bernard Hickey
2 days ago

Nicola's Salad Days.
I like to keep an eye on what’s happening in places like the UK, the US, and over the ditch with our good mates the Aussies. Let’s call them AUKUS, for want of a better collective term. More on that in a bit.It used to be, not long ago, that ...
Nick’s KōreroBy Nick Rockel
2 days ago

Study sees climate change baking in 19% lower global income by 2050
TL;DR: The global economy will be one fifth smaller than it would have otherwise been in 2050 as a result of climate damage, according to a new study by the Potsdam Institute for Climate Impact Research (PIK) and published in the journal Nature. (See more detail and analysis below, and ...
The KakaBy Bernard Hickey
2 days ago

Weekly Roundup 19-April-2024
It’s Friday again. Here’s some of the things that caught our attention this week. This Week on Greater Auckland On Tuesday Matt covered at the government looking into a long tunnel for Wellington. On Wednesday we ran a post from Oscar Simms on some lessons from Texas. AT’s ...
Greater AucklandBy Matt L
2 days ago

Jack Vowles: Stop the panic – we’ve been here before
New Zealand is said to be suffering from ‘serious populist discontent’. An IPSOS MORI survey has reported that we have an increasing preference for strong leaders, think that the economy is rigged toward the rich and powerful, and political elites are ignoring ‘hard-working people’. The data is from February this ...
Democracy ProjectBy bryce.edwards
2 days ago

Clearing up confusion (or trying to)
Foreign Minister Winston Peters is understood to be planning a major speech within the next fortnight to clear up the confusion over whether or not New Zealand might join the AUKUS submarine project. So far, there have been conflicting signals from the Government. RNZ reported the Prime Minister yesterday in ...
PolitikBy Richard Harman
2 days ago

How to Retrieve Deleted Call Log iPhone Without Computer
How to Retrieve Deleted Call Log on iPhone Without a Computer: A Step–by–Step Guide Losing your iPhone call history can be frustrating, especially when you need to find a specific number or recall an important conversation. But before you panic, know that there are ways to retrieve deleted call logs on your iPhone, even without a computer. This guide will explore various methods, ranging from simple checks to utilizing iCloud backups and third–party applications. So, let‘s dive in and recover those lost calls! 1. Check Recently Deleted Folder: Apple understands that accidental deletions happen. That‘s why they introduced the “Recently Deleted“ folder for various apps, including the Phone app. This folder acts as a safety net, storing deleted call logs for up to 30 days before permanently erasing them. Here‘s how to check it: Open the Phone app on your iPhone. Tap on the “Recents“ tab at the bottom. Scroll to the top and tap on “Edit“. Select “Show Recently Deleted“. Browse the list to find the call logs you want to recover. Tap on the desired call log and choose “Recover“ to restore it to your call history. 2. Restore from iCloud Backup: If you regularly back up your iPhone to iCloud, you might be able to retrieve your deleted call log from a previous backup. However, keep in mind that this process will restore your entire phone to the state it was in at the time of the backup, potentially erasing any data added since then. Here‘s how to restore from an iCloud backup: Go to Settings > General > Reset. Choose “Erase All Content and Settings“. Follow the on–screen instructions. Your iPhone will restart and show the initial setup screen. Choose “Restore from iCloud Backup“ during the setup process. Select the relevant backup that contains your deleted call log. Wait for the restoration process to complete. 3. Explore Third–Party Apps (with Caution): ...
Gareth’s WorldBy admin
2 days ago

How to Factory Reset iPhone without Computer: A Comprehensive Guide to Restoring your Device
Life throws curveballs, and sometimes, those curveballs necessitate wiping your iPhone clean and starting anew. Whether you’re facing persistent software glitches, preparing to sell your device, or simply wanting a fresh start, knowing how to factory reset iPhone without a computer is a valuable skill. While using a computer with ...
Gareth’s WorldBy admin
2 days ago

How to Call Someone on a Computer: A Guide to Voice and Video Communication in the Digital Age
Gone are the days when communication was limited to landline phones and physical proximity. Today, computers have become powerful tools for connecting with people across the globe through voice and video calls. But with a plethora of applications and methods available, how to call someone on a computer might seem ...
Gareth’s WorldBy admin
2 days ago

Skeptical Science New Research for Week #16 2024
Open access notables Glacial isostatic adjustment reduces past and future Arctic subsea permafrost, Creel et al., Nature Communications: Sea-level rise submerges terrestrial permafrost in the Arctic, turning it into subsea permafrost. Subsea permafrost underlies ~ 1.8 million km2 of Arctic continental shelf, with thicknesses in places exceeding 700 m. Sea-level variations over glacial-interglacial cycles control ...
Skeptical Science
2 days ago

Where on a Computer is the Operating System Generally Stored? Delving into the Digital Home of your ...
The operating system (OS) is the heart and soul of a computer, orchestrating every action and interaction between hardware and software. But have you ever wondered where on a computer is the operating system generally stored? The answer lies in the intricate dance between hardware and software components, particularly within ...
Gareth’s WorldBy admin
2 days ago

How Many Watts Does a Laptop Use? Understanding Power Consumption and Efficiency
Laptops have become essential tools for work, entertainment, and communication, offering portability and functionality. However, with rising energy costs and growing environmental concerns, understanding a laptop’s power consumption is more important than ever. So, how many watts does a laptop use? The answer, unfortunately, isn’t straightforward. It depends on several ...
Gareth’s WorldBy admin
2 days ago

How to Screen Record on a Dell Laptop A Guide to Capturing Your Screen with Ease
Screen recording has become an essential tool for various purposes, such as creating tutorials, capturing gameplay footage, recording online meetings, or sharing information with others. Fortunately, Dell laptops offer several built-in and external options for screen recording, catering to different needs and preferences. This guide will explore various methods on ...
Gareth’s WorldBy admin
2 days ago

How Much Does it Cost to Fix a Laptop Screen? Navigating Repair Options and Costs
A cracked or damaged laptop screen can be a frustrating experience, impacting productivity and enjoyment. Fortunately, laptop screen repair is a common service offered by various repair shops and technicians. However, the cost of fixing a laptop screen can vary significantly depending on several factors. This article delves into the ...
Gareth’s WorldBy admin
2 days ago

How Long Do Gaming Laptops Last? Demystifying Lifespan and Maximizing Longevity
Gaming laptops represent a significant investment for passionate gamers, offering portability and powerful performance for immersive gaming experiences. However, a common concern among potential buyers is their lifespan. Unlike desktop PCs, which allow for easier component upgrades, gaming laptops have inherent limitations due to their compact and integrated design. This ...
Gareth’s WorldBy admin
2 days ago

Climate Change: Turning the tide
The annual inventory report of New Zealand's greenhouse gas emissions has been released, showing that gross emissions have dropped for the third year in a row, to 78.4 million tons: All-told gross emissions have decreased by over 6 million tons since the Zero Carbon Act was passed in 2019. ...
No Right TurnBy Idiot/Savant
2 days ago

How to Unlock Your Computer A Comprehensive Guide to Regaining Access
Experiencing a locked computer can be frustrating, especially when you need access to your files and applications urgently. The methods to unlock your computer will vary depending on the specific situation and the type of lock you encounter. This guide will explore various scenarios and provide step-by-step instructions on how ...
Gareth’s WorldBy admin
2 days ago

Faxing from Your Computer A Modern Guide to Sending Documents Digitally
While the world has largely transitioned to digital communication, faxing still holds relevance in certain industries and situations. Fortunately, gone are the days of bulky fax machines and dedicated phone lines. Today, you can easily send and receive faxes directly from your computer, offering a convenient and efficient way to ...
Gareth’s WorldBy admin
2 days ago

Protecting Your Home Computer A Guide to Cyber Awareness
In our increasingly digital world, home computers have become essential tools for work, communication, entertainment, and more. However, this increased reliance on technology also exposes us to various cyber threats. Understanding these threats and taking proactive steps to protect your home computer is crucial for safeguarding your personal information, finances, ...
Gareth’s WorldBy admin
2 days ago

Server-Based Computing Powering the Modern Digital Landscape
In the ever-evolving world of technology, server-based computing has emerged as a cornerstone of modern digital infrastructure. This article delves into the concept of server-based computing, exploring its various forms, benefits, challenges, and its impact on the way we work and interact with technology. Understanding Server-Based Computing: At its core, ...
Gareth’s WorldBy admin
2 days ago

Vroom vroom go the big red trucks
The absolute brass neck of this guy.We want more medical doctors, not more spin doctors, Luxon was saying a couple of weeks ago, and now we’re told the guy has seven salaried adults on TikTok duty. Sorry, doing social media. The absolute brass neck of it. The irony that the ...
More Than A FeildingBy David Slack
2 days ago

Jones finds $410,000 to help the government muscle in on a spat project
Buzz from the Beehive Oceans and Fisheries Minister Shane Jones relishes spatting and eagerly takes issue with environmentalists who criticise his enthusiasm for resource development. He relishes helping the fishing industry too. And so today, while the media are making much of the latest culling in the public service to ...
Point of OrderBy Bob Edlin
2 days ago

Again, hate crimes are not necessarily terrorism.
Having written, taught and worked for the US government on issues involving unconventional warfare and terrorism for 30-odd years, two things irritate me the most when the subject is discussed in public. The first is the Johnny-come-lately academics-turned-media commentators who … Continue reading → ...
KiwipoliticoBy Pablo
2 days ago

Despair – construction consenting edition
Eric Crampton writes – Kainga Ora is the government’s house building agency. It’s been building a lot of social housing. Kainga Ora has its own (but independent) consenting authority, Consentium. It’s a neat idea. Rather than have to deal with building consents across each different territorial authority, Kainga Ora ...
Point of OrderBy poonzteam5443
2 days ago

Coalition promises – will the Govt keep the commitment to keep Kiwis equal before the law?
Muriel Newman writes – The Coalition Government says it is moving with speed to deliver campaign promises and reverse the damage done by Labour. One of their key commitments is to “defend the principle that New Zealanders are equal before the law.” To achieve this, they have pledged they “will not advance ...
Point of OrderBy poonzteam5443
2 days ago

An impermanent public service is a guarantee of very little else but failure
Chris Trotter writes – The absence of anything resembling a fightback from the public servants currently losing their jobs is interesting. State-sector workers’ collective fatalism in the face of Coalition cutbacks indicates a surprisingly broad acceptance of impermanence in the workplace. Fifty years ago, lay-offs in the thousands ...
Point of OrderBy poonzteam5443
2 days ago

Fast-track submissions period must be extended
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. ...
Greens
1 day ago

Release: Progress on climate will be undone by Govt
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. ...
Labour Blog
1 day ago

Release: Dark day for Kiwi kids as a third of Govt cuts affect them
News that 1000 jobs at the Ministry of Education and Oranga Tamariki could go is devastating for future generations of New Zealanders. ...
Labour Blog
3 days ago

Release: Alarm as Government signals further blow to school lunches
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. ...
Labour Blog
3 days ago

Release: Quick, submit – stop Govt’s dodgy approvals bill
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. ...
Labour Blog
4 days ago

Government throws coal on the climate crisis fire
The Government’s policy announced today to ease consenting for coal mining will have a lasting impact across generations. ...
Greens
4 days ago

Release: Public transport costs to double as National looks at unaffordable roading project instead
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. ...
Labour Blog
5 days ago

Release: Cost of living in Auckland still not a priority
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. ...
Labour Blog
6 days ago

Greens look to fast-track submissions on harmful law
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. ...
Greens
1 week ago

Release: Govt should stop making people’s lives harder and build more homes
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. ...
Labour Blog
1 week ago

Release: Melissa Lee missing in action on media
The action Melissa Lee promised to protect democracy and the media sector is missing, Media and Communications spokesperson Willie Jackson said. ...
Labour Blog
1 week ago

Landlord Government leaves little hope for renters
The Government’s announcement on tenancy rules prove that it does not care about renters. ...
Greens
1 week ago

Opportunity to build a more sustainable economy
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. ...
Greens
1 week ago

Significant step forward in fixing cruel and unjust past
A significant milestone has been reached in the fight to strike an anti-Pasifika and unfair law from the country’s books after Teanau Tuiono’s members’ bill passed its first reading. ...
Greens
1 week ago

Missed opportunity but NZ will surely one day recognise the right to a sustainable environment
New Zealand has today missed the opportunity to uphold the right to a clean, healthy, and sustainable environment, says James Shaw after his member’s bill was voted down in its first reading. ...
Greens
1 week ago

Release: Don’t cut our lunches – clear message sent to Government
Tens of thousands of people are demanding the Government commits to fully funding free and healthy school lunches. ...
Labour Blog
1 week ago

Release: Govt makes U-turn on Suicide Prevention Office
Labour welcomes the Government’s U-turn on the closure of the Suicide Prevention Office, says Labour Mental Health spokesperson Ingrid Leary. ...
Labour Blog
2 weeks ago

CCC issues warning over further climate delay
Today’s advice from the Climate Change Commission paints a sobering reality of the challenge we face in combating climate change, especially in light of recent Government policy announcements. ...
Greens
2 weeks ago

Luxon targets lame and lousy example of leadership
If talk is cheap, Chris Luxon’s “targets” are bankrupt. ...
Greens
2 weeks ago

Luxon targets are lousy example of leadership
If talk is cheap, Chris Luxon’s “targets” are bankrupt. ...
Greens
2 weeks ago

Release: Commitment to disability communities missing from Govt priorities
Minister for Disability Issues Penny Simmonds appears to have delayed a report back to Cabinet on the progress New Zealand is making against international obligations for disabled New Zealanders. ...
Labour Blog
2 weeks ago

Methane target review is dangerous duplication
The Government’s newly announced review of methane emissions reduction targets hints at its desire to delay Aotearoa New Zealand’s urgent transition to a climate safe future, the Green Party said. ...
Greens
2 weeks ago

Release: Government must commit to school building project for disabled students
The Government must commit to the Maitai School building project for students with high and complex needs, to ensure disabled students from the top of the South Island have somewhere to learn. ...
Labour Blog
2 weeks ago

Release: National must take mental health seriously
Mental Health Minister Matt Doocey and his Government colleagues have made a meal of their mental health commitments, showing how flimsy their efforts to champion the issue truly are, says Labour Mental Health spokesperson Ingrid Leary. ...
Labour Blog
2 weeks ago

Referendums for Māori wards a racist step backwards
The Government's imposed referendum on Māori wards is a racist step backwards for Māori representation, and disregards Te Tiriti o Waitangi. ...
Greens
2 weeks ago

Release: Job losses at Health not worth it for tax cuts
New Zealand will feel the harm of the National Government’s reckless cuts to jobs at the health ministry for generations, says Ayesha Verrall. ...
Labour Blog
2 weeks ago

Press release: No Māori initiatives in Government’s nothing plan
Māori are yet to see anything from this Government except cuts, reversals and taking our people backwards, Māori Development spokesperson Willie Jackson said. ...
Labour Blog
2 weeks ago

Thirty six point PR spin
The Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...
Greens
3 weeks ago

Thirty six point PR spin
The Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...
Greens
3 weeks ago

Thirty six point PR spin
The Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...
Greens
3 weeks ago

Release: Social housing off Government’s to-do list
The Coalition Government’s refusal to commit to ongoing funding for social housing is seeing the sector pull back on developments and families watch their dreams of securing a home fade away, says Labour Housing spokesperson Kieran McAnulty. ...
Labour Blog
3 weeks ago

PM’s South East Asia mission does the business
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 ...
BeehiveBy beehive.govt.nz
13 hours ago

$41m to support clean energy in South East Asia
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 ...
BeehiveBy beehive.govt.nz
1 day ago

Minister releases Fast-track stakeholder list
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 ...
BeehiveBy beehive.govt.nz
1 day ago

Judicial appointments announced
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 ...
BeehiveBy beehive.govt.nz
1 day ago

Education Minister heads to major teaching summit in Singapore
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 ...
BeehiveBy beehive.govt.nz
1 day ago

Value of stopbank project proven during cyclone
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 ...
BeehiveBy beehive.govt.nz
1 day ago

Anzac commemorations, Türkiye relationship focus of visit
Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul. “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
BeehiveBy beehive.govt.nz
1 day ago

Minister to Europe for OECD meeting, Anzac Day
Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
BeehiveBy beehive.govt.nz
2 days ago

Comprehensive Partnership the goal for NZ and the Philippines
Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr. The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
BeehiveBy beehive.govt.nz
2 days ago

Government commits $20m to Westport flood protection
The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
BeehiveBy beehive.govt.nz
2 days ago

Taupō takes pole position
The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
BeehiveBy beehive.govt.nz
2 days ago

Cost of living support for low-income homeowners
Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners. “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
BeehiveBy beehive.govt.nz
2 days ago

Government backing mussel spat project
The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
BeehiveBy beehive.govt.nz
2 days ago

Government focused on getting people into work
Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
BeehiveBy beehive.govt.nz
2 days ago

Clean energy key driver to reducing emissions
The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
BeehiveBy beehive.govt.nz
3 days ago

Earthquake-prone buildings review brought forward
The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
BeehiveBy beehive.govt.nz
3 days ago

Thailand and NZ to agree to Strategic Partnership
Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
BeehiveBy beehive.govt.nz
3 days ago

Government consults on extending coastal permits for ports
RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
BeehiveBy beehive.govt.nz
3 days ago

Inflation coming down, but more work to do
Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
BeehiveBy beehive.govt.nz
3 days ago

School attendance restored as a priority in health advice
Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
BeehiveBy beehive.govt.nz
3 days ago

Unnecessary bureaucracy cut in oceans sector
Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
BeehiveBy beehive.govt.nz
4 days ago

Patterson promoting NZ’s wool sector at International Congress
Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector. "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
BeehiveBy beehive.govt.nz
4 days ago

Removing red tape to help early learners thrive
The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
BeehiveBy beehive.govt.nz
5 days ago

RMA changes to cut coal mining consent red tape
Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
BeehiveBy beehive.govt.nz
5 days ago

McClay reaffirms strong NZ-China trade relationship
Trade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...
BeehiveBy beehive.govt.nz
5 days ago

Prime Minister Luxon acknowledges legacy of Singapore Prime Minister Lee
Prime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong. Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...
BeehiveBy beehive.govt.nz
5 days ago

PMs Luxon and Lee deepen Singapore-NZ ties
Prime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong. During today’s meeting, Prime Minister Luxon ...
BeehiveBy beehive.govt.nz
5 days ago

Antarctica New Zealand Board appointments
Foreign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner. The Minister has appointed Neville Harris as a new member of the Board. Mr ...
BeehiveBy beehive.govt.nz
5 days ago

Finance Minister travels to Washington DC
Finance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom. “I am looking forward to meeting with our Five Finance partners on how we can work ...
BeehiveBy beehive.govt.nz
5 days ago

Pet bonds a win/win for renters and landlords
The coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...
BeehiveBy beehive.govt.nz
5 days ago

Long Tunnel for SH1 Wellington being considered
State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...
BeehiveBy beehive.govt.nz
6 days ago

New Zealand condemns Iranian strikes
Prime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel. “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says. "We are deeply concerned that miscalculation on any side could ...
BeehiveBy beehive.govt.nz
6 days ago

Huge interest in Government’s infrastructure plans
Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
BeehiveBy beehive.govt.nz
1 week ago

Health Minister thanks outgoing Health New Zealand Chair
Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board. “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti. “I have asked her to ...
BeehiveBy beehive.govt.nz
1 week ago

Roads of National Significance planning underway
The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says. “Boosting economic growth and productivity is a key part of the Government’s plan to ...
BeehiveBy beehive.govt.nz
1 week ago

Navigating an unstable global environment
New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says. “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States. “We cannot afford to sit back in splendid ...
BeehiveBy beehive.govt.nz
1 week ago

NZ welcomes Australian Governor-General
Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
BeehiveBy beehive.govt.nz
1 week ago

Pseudoephedrine back on shelves for Winter
Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
BeehiveBy beehive.govt.nz
1 week ago

NZ and the US: an ever closer partnership
New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says. “The strategic environment that New Zealand and the United States face is considerably more ...
BeehiveBy beehive.govt.nz
1 week ago

Joint US and NZ declaration
April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
BeehiveBy beehive.govt.nz
1 week ago

Firms invited to apply for fast-track consents include 'environmental destroyers' – ...
Environmentalists have slammed a list of organisations who have been invited to apply to the Government's proposed fast-track approvals scheme. ...
Radio NZ – political
4 hours ago

Solomon Islands political chess begins with Manasseh Sogavare re-elected in East Choiseul
By Koroi Hawkins, RNZ Pacific editor in Honiara Solomon Islands’ incumbent prime minister Manasseh Sogavare has been re-elected in the East Choiseul constituency. It is the opening move in the political chess match to form the country’s next government. Returning officer Christopher Makoni made the declaration late last night after ...
Evening ReportBy Asia Pacific Report
5 hours ago

The moment of friction.
Headline: The moment of friction. – 36th Parallel Assessments In strategic studies “friction” is a term that it is used to describe the moment when military action encounters adversary resistance. “Friction” is one of four (along with an unofficial fifth) “F’s” in military strategy, which includes force (kinetic mass), ...
Evening ReportBy Dr Paul Buchanan
7 hours ago

Fast-track Bill A Fraud Being Perpetrated On All Future Generations
The Fast-track Bill, if passed, would allow three Ministers, unchallenged and unchecked, to approve the immediate extraction and exhaustion of one-off resources. ...
Scoop politics
10 hours ago

Focus on Politics: Luxon boosts defence amid rising global tensions
As global tensions escalated this week, Prime Minister Christopher Luxon was touring Southeast Asia, strengthening defence and security ties. ...
Radio NZ – political
10 hours ago

Why the pathology bulk-billing campaign is more about driving industry profits than saving you money
Source: The Conversation (Au and NZ) – By Stephen Duckett, Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne iamharin/Shutterstock For many people, the term “bulk billed” refers to a GP visit they don’t have to pay ...
Evening ReportBy The Conversation
11 hours ago

All about Emma: Three writers talk about the name they share in common
Emmas Hislop, Sidnam and Wehipeihana discuss what’s in a name. Emma Sidnam: Hello Emmas! Thank you so much for agreeing to do this with me. My first question for you is related to what’s been on my mind for a while. It’s very important. You see we’ve recently had some ...
The SpinoffBy The Spinoff Review of Books
12 hours ago

Restoring coastal habitat boosts wildlife numbers by 61% – but puzzling failures mean we can still...
Source: The Conversation (Au and NZ) – By Michael Sievers, Research Fellow, Global Wetlands Project, Australia Rivers Institute, Griffith University Chris Brown Humans love the coast. But we love it to death, so much so we’ve destroyed valuable coastal habitat – in the case of some types of habitat, ...
Evening ReportBy The Conversation
12 hours ago

Public sector job cuts: Affected staff criticise leaders' handling of announcements
Staff are shell shocked and frustrated, and say leaders handled the announcements poorly. ...
Radio NZ – political
12 hours ago

‘The room went dead quiet’: Josh Thomson on his worst 7 Days moment
Josh Thomson on the 80s milk ad jingle he can’t stop singing, the beauty of The Simpsons, why Jersey Shore is as good as Shakespeare and more. For someone who spends a lot of time on our screens, popping up in everything from 7 Days to Taskmaster, Educators to Good ...
The SpinoffBy My Life in TV
13 hours ago

Shadow-boxing turns real for Israel and Iran
In apparent defiance of the Biden administration, the Netanyahu government has now initiated missile strikes against Iran. Last Saturday night (Sunday morning in New Zealand) Iran launched more than 300 drones, cruise missiles and ballistic missiles against Israeli military targets. With the assistance of US, UK and possibly French forces, ...
NewsroomBy Newsroom Contributor
14 hours ago

Prime Minister Christopher Luxon meets KPIs on Southeast Asia mission
Power Play - Asked for his own assessment of the visit, the prime minister said he was returning home "excited and energised". ...
Radio NZ – political
15 hours ago

Embracing Māori Representation Enriches Democracy, Not Divides It
Māori representation brings a perspective that encompasses not only the interests of Māori communities but also a broader, holistic approach to environmental stewardship and community well-being, principles deeply embedded in Te Ao Māori (the Māori ...
Scoop politics
15 hours ago

Anne Salmond: My open submission on this radical, flawed fast-track bill
This week in Auckland, a group of young people took over the microphone at a ministerial press conference, to explain why they oppose the Fast-Track Approvals Bill. One young woman said, ‘We’re here because we love Aotearoa New Zealand. We want to raise our children in an environment that’s thriving, ...
NewsroomBy Dame Anne Salmond
16 hours ago

Short story: Finally, by Caoimhe McKeogh
The summer was wonderful. Evie was wonderful, too; finally a teenager, finally worthy of long, hot days. She shaved her legs for the first time and bought cut-off shorts from the op-shop that made them look long. She got a Warehouse singlet so tight on her new shape that her ...
NewsroomBy Caoimhe McKeogh
16 hours ago

Thomas James is a master of invention
When Thomas James was on his solo camp as part of Outward Bound, the keen outdoorsman didn’t find it too challenging, as others often do. In what might just be the perfect illustration of his character, he saw it as a great opportunity to solve a few problems. “I thought, ...
NewsroomBy Ben Fahy
16 hours ago

All 28 road tunnels in New Zealand ranked from worst to best
From the unstable and drippy to the hi-tech and pretty, here’s our ranking of all the tunnels you can drive through in this country. The first tunnel seems to have been built in 2200BC in Babylonia, kicking off a global phenomenon for digging holes in order to get places more ...
The SpinoffBy Group Think
17 hours ago

How to make the most of your market haul
Lucinda Bennett on the art of being greedy but resourceful. This is an excerpt from our weekly food newsletter, The Boil Up. When I picture the market, it is always this time of year. Crisp air, dripping nose, counting coins with cold fingers. Sunlight pale, filtered through specks of dew still ...
The SpinoffBy Lucinda Bennett
17 hours ago

From a library basement comes a fashion history
Zoë Colling’s favourite piece in the ‘That’s So Last Century’ collection is a lubrication chart for a sewing machine from the ’60s. It’s about the size of a postcard, and carefully maintained. “I like it that this piece of ephemera highlights that manual and technical side of the skill involved ...
NewsroomBy Sharon Brettkelly
17 hours ago

Rousing farewell for Kiwi doctors flying out to Gaza aid flotilla
Kia Ora Gaza A passionate haka reverberated through Auckland International Airport as a medical team of three New Zealand doctors received an emotional farewell from a big crowd of supporters before flying to Turkey to join the international Freedom Flotilla to Gaza. The doctors, who left Auckland yesterday, hope to ...
Evening ReportBy Asia Pacific Report
24 hours ago

Communities Against The Fast-track Heartened By ‘Overwhelming’ Public Response; Disgusted By ‘...
With submissions closing today, Macassey-Pickard says groups around the country have been supporting a huge range of people to make their submissions. ...
Scoop politics
1 day ago

Renters Rights To Drastically Reduce Under Landlord Government
The Government’s announced changes around tenancy rules set renters’ rights back by nearly a decade. ...
Scoop politics
1 day ago

NZPI Submission on Fast Track Approvals Bill
Our response to the new legislation is informed by targeted conversations with practitioners working in the system and through an implementation lens. ...
Scoop politics
1 day ago

Fast Track Invite List Includes Most Destructive Industries In New Zealand
The new ‘Fast-track Approvals Bill’ would give just three Ministers the power to approve or deny development projects. They would avoid the usual checks and balances that are in place to protect rivers, land, the ocean, and communities. ...
Scoop politics
1 day ago

Eugene Doyle: Helen Clark on why AUKUS isn’t in New Zealand’s national interest
COMMENTARY: By Eugene Doyle Helen Clark, how I miss you. The former New Zealand Prime Minister — the safest pair of hands this country has had in living memory — gave a masterclass on the importance of maintaining an independent foreign policy when she spoke at an AUKUS symposium held ...
Evening ReportBy Asia Pacific Report
1 day ago

Government releases list of organisations shoulder-tapped for fast-track consents
The government's released the list of organisations provided with information on how to apply - just hours before public submissions on the bill close. ...
Radio NZ – political
1 day ago

The Week in Politics: Job cuts surge and Waitangi Tribunal trouble
Analysis - It's been a grim week for public servants, while trouble is also brewing between the government and Waitangi Tribunal. ...
Radio NZ – political
1 day ago

It never rains but it pours: intense rain and flash floods have increased inland in eastern Australi...
Source: The Conversation (Au and NZ) – By Milton Speer, Visiting Fellow, School of Mathematical and Physical Sciences, University of Technology Sydney Before climate change really got going, eastern Australia’s flash floods tended to concentrate on our coastal regions, east of the Great Dividing Range. But that’s changing. Now ...
Evening ReportBy The Conversation
1 day ago

Watch: Christopher Luxon speaks to media in Manila
The PM has defended how he's talked up NZ trade on his trip to Southeast Asia, after criticism from his own delegation. ...
Radio NZ – political
1 day ago

‘It could be the death of the museum’: why research cuts at a South Australian institution have ...
Source: The Conversation (Au and NZ) – By Elizabeth Finkel, Vice-Chancellor’s Fellow, La Trobe University Sia Duff / South Australian Museum In February, the South Australian Museum “re-imagined” itself. In the face of rising costs and inadequate government funds, CEO David Gaimster, who took the reins last June, declared ...
Evening ReportBy The Conversation
1 day ago

Government signs off $41m clean energy deal with Asian Development Bank
The government has committed $41 million to clean energy transition at the Asian Development Bank's Energy Transition Mechanism. ...
Radio NZ – political
1 day ago

Are 2 mid-career AFL retirements a sign Australian athletes are taking brain health more seriously?
Source: The Conversation (Au and NZ) – By Alan Pearce, Professor, School of Allied Heath, Human Services & Sport, La Trobe University, La Trobe University This week, Collingwood AFL player Nathan Murphy announced his retirement, brought on by his concussion history and ongoing issues. The 24-year-old’s seemingly sudden retirement, ...
Evening ReportBy The Conversation
1 day ago

Luxon: Waitangi Tribunal comments from coalition parties 'ill considered'
Comments from ACT and NZ First ministers about the Tribunal were "ill considered" and "that message will be underscored" to them, the PM says. ...
Radio NZ – political
1 day ago

Mental Health Foundation Facing Staff Cuts From Govt Funding Squeeze
The Mental Health Foundation provides support and resources for those facing the loss of their job, so it’s wrong in the very week the Government adds another 1000 jobs to its tally of cuts, that this is happening. ...
Scoop politics
1 day ago

I wholeheartedly recommend The President: a brilliant revival of a play of decay, terror and revulsi...
Source: The Conversation (Au and NZ) – By Alexander Howard, Senior Lecturer, Discipline of English and Writing, University of Sydney Daniel Boud/Sydney Theatre Company Decay, terror, revulsion. These are three of the central themes of Thomas Bernhard’s rarely performed play The President. The Austrian is one of the greatest ...
Evening ReportBy The Conversation
1 day ago

How the coolest little capital is shrinking
It's not the first time a government has targeted public servants for job cuts, but this time Wellington is really feeling it. ...
Radio NZ – political
1 day ago

Many prisoners go years without touching a smartphone. It means they struggle to navigate life on th...
Source: The Conversation (Au and NZ) – By Ye In (Jane) Hwang, Postdoctoral Research Associate at School of Population Health, UNSW Sydney Shutterstock You’d be hard pressed to find any aspect of daily life that doesn’t require some form of digital literacy. We need only to look back ten ...
Evening ReportBy The Conversation
1 day ago

Ministers accused of Cabinet Manual breach with threats to Waitangi Tribunal
Prime Minister Christopher Luxon says threats by ministers Shane Jones and David Seymour to reform or close down the Waitangi Tribunal were “ill-considered”, as legal experts say the ministers may have breached Cabinet Manual conventions. “I think those comments are ill-considered and we expect all ministers to actually exercise good ...
NewsroomBy Marc Daalder
1 day ago

Good news: midlife health is about more than a waist measurement. Here’s why
Source: The Conversation (Au and NZ) – By Rob Newton, Professor of Exercise Medicine, Edith Cowan University Pexels/RDNE stock project You’re not in your 20s or 30s anymore and you know regular health checks are important. So you go to your GP. During the appointment they measure your waist. ...
Evening ReportBy The Conversation
1 day ago

The Friday Poem: ‘Mitochondrial Problem’ by Evangeline Riddiford Graham
A new poem by Evangeline Riddiford Graham. Mitochondrial Problem I. It was long drive to Kansas for the man and his dog but you have to understand he said She doesn’t fly. Which calls to mind not carsick shitting barking or whining but a dog who chooses not to as ...
The SpinoffBy Evangeline Riddiford Graham
1 day ago

The Unity Books bestseller chart for the week ending April 18
The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington. AUCKLAND 1 Hemingway’s Goblet by Dermot Ross (Mary Egan Publishing, $38) Hot off the press, this debut ...
The SpinoffBy The Spinoff Review of Books
1 day ago

Department of Conservation closing Dunedin centre, but no jobs lost
Visitor habits are changing and DOC needs to adapt in a financially sustainable way, its operations director says. ...
Radio NZ – political
1 day ago

Unions Collaborate With Thousands Of Job Cuts
With New Zealand officially in recession, a swathe of mass sackings is currently sending shockwaves through the entire working class. ...
Scoop politics
1 day ago

Watch live: Christopher Luxon speaks to media in Manila
Prime Minister Christopher Luxon is speaking to reporters in Manila after pledging greater defence cooperation with the Philippines. Watch live. ...
Radio NZ – political
1 day ago

Government sent please explain letter to Wellington City Council over transport disagreement
The contents were revealed in correspondence from Simeon Brown and Chris Bishop to Wellington's Mayor. ...
Radio NZ – political
1 day ago

Some families push back against journalists who mine social media for photos – they have every rig...
Source: The Conversation (Au and NZ) – By Laura Wajnryb McDonald, PhD candidate in Criminology, University of Sydney Less than 24 hours after Ashlee Good was murdered in Bondi Junction, her family released a statement requesting the media take down photographs they had reproduced of Ashlee and her family without ...
Evening ReportBy The Conversation
1 day ago

Mental Health Foundation staff cuts loom, with funding falling behind rising costs
Chief executive Shaun Robinson said it has not had any government funding cut, but government-funded contracts have not kept pace with rising costs. ...
Radio NZ – political
1 day ago

The ‘devil comet’ 12P/Pons-Brooks has finally become visible from Australia. What can we expect?
Source: The Conversation (Au and NZ) – By Jonti Horner, Professor (Astrophysics), University of Southern Queensland Pons–Brooks visible from Utah, March 9 2024. James Peirce/Flickr, CC BY-NC-ND If you’re a fan of all things space, you’ve doubtless heard about the “devil comet”, which has been captivating keen-eyed observers in the ...
Evening ReportBy The Conversation
1 day ago

Rugby stadiums are sold as an economic asset – but NZ needs to ask if they’re really worth it
Source: The Conversation (Au and NZ) – By Robert Hamlin, Senior Lecturer in Marketing , University of Otago A multi-billion dollar stadium precinct has been proposed for Auckland, one of three proposals in front of Auckland Council for a new stadium in the city. The council is also considering revamping ...
Evening ReportBy The Conversation
1 day ago

Auckland dog attacks: Callouts for attacks on other animals going up
Roaming dogs are responsible for more than a thousand attacks on animals each year, and the number is growing. ...
Radio NZ – political
1 day ago

What access to puberty blockers means for trans young people and their whānau
The Ministry of Health has delayed the release of its evidence brief on the safety, reversibility and mental health and wellbeing outcomes for puberty blockers. While we wait, Julia de Bres speaks to those with firsthand experience. Best practice gender-affirming healthcare is based on trans people’s self-determination and agency. The ...
The SpinoffBy Julia de Bres
1 day ago

NZ and Philippines pledge defence cooperation amid rising tensions
The commitment came after a sit-down meeting between Christopher Luxon and President Ferdinand "Bongbong" Romualdez Marcos Jr overnight. ...
Radio NZ – political
1 day ago

How superblocks can help reimagine city life
Barcelona’s city streets have gone from traffic-clogged to pedestrian-friendly. How? Superblocks. Ellen Rykers explains. This is an excerpt from our weekly environmental newsletter Future Proof. Sign up here. Last week I read a great interview with renowned urbanist Janette Sadik-Khan by The Spinoff’s Wellington editor Joel MacManus: “You can reimagine streets, ...
The SpinoffBy Ellen Rykers
1 day ago

Fire engineering expertise may take a big hit with job cuts at MBIE
The public sector cuts are poised to take out a big chunk of expertise at the country's building regulator. ...
Radio NZ – political
2 days ago

“Fast-track Law To Kill Kiwi”: Students Say Fight Against Anti-democracy Legislation Is Only Jus...
Student groups ‘Climate Action VUW’, Schools Strike 4 Climate and VUWSA will be on the street in Wellington today, the last day for submissions on the Fast-track Approvals Bill, with a message that the fight against the Government’s ‘War on ...
Scoop politics
2 days ago

‘We have thousands of Modis’: the secret behind the BJP’s enduring success in India
Source: The Conversation (Au and NZ) – By Sofia Ammassari, Research Fellow, Griffith University Since 2014, Indian Prime Minister Narendra Modi’s popularity has grown exponentially – and so has the formidable organisational machine of his Bharatiya Janata Party (BJP). These two factors will be key to delivering the BJP a ...
Evening ReportBy The Conversation
2 days ago

Online schooling is not just for lockdowns. Could it work for your child?
Source: The Conversation (Au and NZ) – By Brendon Hyndman, Associate Professor of Education (Adjunct) & Senior Manager (BCE), Charles Sturt University During COVID almost all Australian students and their families experienced online learning. But while schools have long since gone back to in-person teaching, online learning has not gone ...
Evening ReportBy The Conversation
2 days ago

Hear me out: You can shove your reusable period products
Yes, they’re better for the environment. No, that’s not a good enough reason for me to use them. Once every 26 days or so, my period arrives, and if struck by an act of God, I am caught red-crotched without products. How, after 17 years of this, do I still ...
The SpinoffBy Kristin Kelly
2 days ago

Rip It Up And Start Over – Fast-Track Approvals Bill Needs To Be Scrapped
“It will cause significant harm to our environment and communities. It is completely at odds with New Zealanders’ relationship with nature and our need for a low-carbon, sustainable economic future." ...
Scoop politics
2 days ago

Maori Authority Warns Government On Fast Track Legislation
The Chair of the National Maori Authority, Matthew Tukaki, has warned a Parliamentary Select Committee that fast-tracking legislation is a perilous practice that undermines the core tenets of democracy, transparency, and accountability. ...
Scoop politics
2 days ago

Why the government’s haste in changing the health system could come back to haunt it
Source: The Conversation (Au and NZ) – By Tim Tenbensel, Associate Professor, Health Policy, University of Auckland, Waipapa Taumata Rau Getty Images Since coming into power, the coalition government has adopted a simple but shrewd see-how-fast-we-can-move political strategy. However, in the health sector this need for speed entails ...
Evening ReportBy The Conversation
2 days ago

Many suicides are related to gambling. How can we tackle this problem?
Source: The Conversation (Au and NZ) – By Anastasia Hronis, Clinical Psychologist, University of Technology Sydney Darya Sannikova/Pexels Whether you’re watching TV, attending a footy game, or eating a meal at your local pub, gambling is hard to escape. Although the rise of gambling is not unique to Australia, ...
Evening ReportBy The Conversation
2 days ago

Things that go buzz in the night – our global study found there really are more insects out after ...
Source: The Conversation (Au and NZ) – By Mark Wong, Forrest Fellow, School of Biological Sciences, The University of Western Australia Have you ever wondered if there are more insects out at night than during the day? We set out to answer this question by combing through the scientific ...
Evening ReportBy The Conversation
2 days ago

Why don’t Australians talk about their salaries? Pay transparency and fairness go hand-in-hand
Source: The Conversation (Au and NZ) – By Carol T Kulik, Research Professor, University of South Australia IR Stone/Shutterstock In Australia, it’s not the done thing to know – let alone ask – what our colleagues are paid. Yet, it’s easy to see how pay transparency can make pay ...
Evening ReportBy The Conversation
2 days ago

‘Character’ And Its Impact On Immigration Status
The Ministry of Business, Innovation and Employment (MBIE) is sounding a warning to migrants, that running foul of the law may see them leaving the country prematurely. ...
Scoop politics
2 days ago

20,000 more on jobseeker benefits than this time last year
The government’s plan to get 50,000 people off jobseeker support by 2030 has had a rocky start, writes Catherine McGregor in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. Beneficiary numbers are up – and so are ...
The SpinoffBy Catherine McGregor
2 days ago

All of the Raglan Roast cafes in Wellington, ranked from worst to best
Raglan Roast is a staple of Wellington coffee culture. But with five branches across the capital, which one is the best? I am a die-hard Raglan Roast fan. It’s consistently the most affordable cafe in Wellington, and one of the only places you can get a coffee after 3pm. So, ...
The SpinoffBy Zoë Mills
2 days ago

Auckland uni students threaten rent strike over rising accommodation fees
Residents of University of Auckland halls are being urged to withhold their accommodation fees from May 1, in a bid to force the university to take student concerns over rent hikes seriously. The University of Auckland is facing a strike from students over the cost of on-campus accommodation. The Students ...
The SpinoffBy Stewart Sowman-Lund
2 days ago

Daily crossword, Friday 19 April
The post Daily crossword, Friday 19 April appeared first on Newsroom. ...
NewsroomBy Newsroom Puzzles
2 days ago

Brakes on transport and logistics sector as demand for freight slows
The transport sector is currently in the slow lane The post Brakes on transport and logistics sector as demand for freight slows appeared first on Newsroom. ...
NewsroomBy Emma Hatton
2 days ago

Newsroom daily quiz, Friday 19 April
Loading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[quiz],DIV[quiz],A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. The post Newsroom daily quiz, Friday 19 April appeared first on Newsroom. ...
NewsroomBy Newsroom Puzzles
2 days ago

Financial literacy should be on all of us
Opinion: With maths understanding at 42 percent for Year 8 students, there’s no doubt something has to be done. But how? The post Financial literacy should be on all of us appeared first on Newsroom. ...
NewsroomBy Bryce Marsden
2 days ago

Missy rustles to stardom in Canada
Hineaupounamu ‘Missy’ Nuku has been scaling mountains in Canada for her college basketball team, the Lakeland Rustlers. Alberta is currently home for the 20-year-old point guard, who is in her first year of a scholarship at Lakeland College, where she is studying for a business degree. She has certainly made ...
NewsroomBy Aiden McLaughlin
2 days ago

Emissions fall again – now NZ needs to up the pace
Official figures confirm New Zealand produced less climate pollution in 2022 than in any other year in the 21st century The post Emissions fall again – now NZ needs to up the pace appeared first on Newsroom. ...
NewsroomBy Marc Daalder
2 days ago

Warning of death from a million cuts as Oceans Secretariat dissolved
Shane Jones says people voted for change, but opponents say small cuts such as ending a special oceans secretariat are starting to add up The post Warning of death from a million cuts as Oceans Secretariat dissolved appeared first on Newsroom. ...
NewsroomBy Andrew Bevin
2 days ago

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