web analytics

The great Chinese sharemarket selldown

Written By: - Date published: 11:48 am, July 28th, 2015 - 70 comments
Categories: capitalism, China, Economy, International - Tags:

China share market crash

The Chinese share market has recently shown strong signs of being a bubble.  Following a sustained increase in share prices until July this year the market then hit severe turbulence, and previous gains have been well and truly wiped out.

Emergency measures were taken by the Chinese Government to slow down the sell off and showed how different the Chinese economy is to the US economy.  Steps included the suspension of the sale of shares once their value dropped by 10%, the suspension of new IPOs, new cheap credit, Government agencies actively buying shares and a ban of share sales by major shareholders.  A sign of how desperate the measures are that over half of all listed companies have the sale of their shares suspended.

Last night’s news of a further dramatic drop suggest that the measures are not enough.  From the Guardian:

Following three weeks of relative calm, the Shanghai Composite Index plummeted on Monday, ending down 8.5% at 3725.56 – its worst fall since February 2007. Meanwhile the Shenzhen index dropped nearly 7.6% to close at 12493.05 points. Analysts predict more misery ahead for investors in the world’s second largest economy.

Xinhua, China’s official news agency, commemorated the latest crash in a tweet that read: “The return of the debacle!” Two-thirds of all companies listed on the Chinese mainland, or about 1,800 stocks, lost 10% of their value – the maximum daily limit – and were suspended.

Rajiv Biswas, chief Asia economist for analysis firm IHS Global Insight is quoted in the article as saying this:

The government has been trying to hold back the tide like King Canute. This is now a stock market crisis and you can see from the responses that they have been making that they are not really sure how to address it. Today’s developments are just going to put this even more at the centre of their economic problems.”

The basic problem is that the splurge on shares was caused by the stoking of greed and fuelled by cheap credit.  Now many Chinese citizens will have worthless shares and debt to repay.  And the purchase was dependent on never ending growth.

And the implications for New Zealand?  Reduced consumer confidence and discretionary spending power are bound to hurt sales of milk, wine, and other items that we export not to mention a reduction in inbound tourism.  This could be grim.

70 comments on “The great Chinese sharemarket selldown ”

  1. ianmac 1

    When China sneezes NZers become cot cases.

  2. Sabine 2

    and maybe it needs to crash. there is no denying that the current system is simply not sustainable.
    so let them crash, let some of the rich guys eat crow for a while.

    • maui 2.1

      +1, it’s going to get ugly sooner or later.

    • Draco T Bastard 2.2

      +111

      Very definitely need to let the system crash. That would allow us to start putting in place better policies and a better system.

    • Colonial Viper 2.3

      The elite 0.01% have been exiting the Chinese market for months. It’s the “Mum and Dad” investors who get screwed with these crashes. In other words, it is a massive transfer of wealth upwards to the 0.01%.

      • Ad 2.3.1

        Exactly.
        Leftie schadenfreude is just a sad dream.

      • G C 2.3.2

        It happened to Chinese “Mum and Dad” property investors between 2005 – 2011. I think there are insightful parallels which could be shown more by the media.

        Unfortunately many of the investors burned by the Chinese Property bubble are probably now being stung by the Stock Market Bubble.

    • Ad 2.4

      It’s not the rich who suffer in a crisis.

      Economic recession is not political revolution.

      It’s the poor who suffer more in a recession.

      If there’s another recession coming, our current trends of poverty, homelessness, decreasing home ownership, greater wealth disparity, more of the precariat going under will be the trends that increase.

      • Sabine 2.4.1

        well, considering that the poor have been suffering for a while, i think the rich will find a crash a bit harder. For the poor it will be business as usual.

        • Ad 2.4.1.1

          Nope, the poor will find it infinitely worse. The 1% will find it inconvenient.

          Check out who is really suffering in Greece.

  3. linda 3

    Its not just china the stock values are fantasy. You. Only hid the truth for: so long.
    It doesn’t look good. For new Zealand rock star economy. Key will resign before the implosion as all bad managers do ,it was all right when. I was pm.

  4. Weepus beard 4

    Good!

  5. Ad 5

    Australasia does not need another economic crisis.

    The NZ hit of exposure to dairy, East Asian service economy demand, Chinese anti-corruption drives decreasing luxury goods demand, and risk to Auckland’s housing bubble, leaves NZ intensely vulnerable on nearly every important front. The Opposition should not go down the path of crying crisis. This will go so deep into NZ that they should think about how they can deepen points of common interest with the Chinese government, with key exporters, and with the NZ Chinese resident and citizen populations.

    Time to look like you can help, not cry doom.

    • Sabine 5.1

      yes, sure lets help the rich people all over the world to keep their inflated assetts inflated…cause the wealth will trickle down.

      And again, it has got nothing to do with ‘the Chinese” is has all got to do with a subset of a small handful or two of man and women that hold these inflated assets and that will rather you starve before their virtual bank accounts loose a zero.

      Explain to me why my milkprices here in NZ have gone up three times this year, when the global market is down grading the price of Milk solids.

      Care to explain, other then I little Nz’ler has to support someones inflated virtual account.

    • Draco T Bastard 5.2

      The Left can if they do this. If they try to keep the failed neo-liberal system then it’s just gonna get worse.

      • Ad 5.2.1

        No government in the EU or OECD is proposing that.

        Sorry to go all Keynsian on you, but what better protects us from the great capitalist waves breaking, is a large and healthy public service doing public service and public works.

        It’s the only thing that’s got us out of a Depression in a century.

        • Draco T Bastard 5.2.1.1

          No government in the EU or OECD is proposing that.

          The idea is to do something different rather than doubling down of the failed system we have now as the EU are doing.

          And you’ll note that what I propose has Keynesian overtones but it’s not there to protect capitalism as Keynes was trying to do.

          • Ad 5.2.1.1.1

            Go for your life.

            What you propose will never happen in New Zealand under any foreseeable political mix.

            • Draco T Bastard 5.2.1.1.1.1

              Well it certainly won’t if it’s not suggested and I think that we have no choice about to be honest. All other forms of financialisation have failed miserably.

    • maui 5.3

      I went to a talk by Dr Mike Joy the other day, and interestingly he was saying along the lines of we have threatened/endangered most of our native freshwater fish species, practically all of New Zealand’s lowland rivers are completely unswimmable (over 90%) due to dairy and beef. That is some of the domestic environmental cost of export dairy.

      Internationally, we’ve completely destroyed the island of Nauru by opencast mining it for phosphate and spreading it on our farms as fertiliser. Since that phosphate is super rich in cadmium, we now have high levels of toxic cadmium rich soil in productive land all over NZ from spreading it around for decades (much higher than other countries). Our cattle are so full of cadmium that their internal organs are not fit for sale.

      We export most of dairy products as milk powder to China where workers have to work in slave like conditions to get it ready for sale. We’re also a massive importer of palm kernel, meaning we are supporting the destruction of rainforests that have to be removed for palm plantations in places like Indonesia, and the predictable slave labour that occurs for us to get our hands on this product cheaply.

      ^A few reasons why this shouldn’t go on any longer.

      • Molly 5.3.1

        Thanks maui. I agree with what you say here.

        The externalities of some of our big earners, are ongoing costs for NZers.

        I was speaking with someone about the cadmium issue just a couple of weeks ago. She is involved with water testing for nitrates etc for a community group, and mentioned the high cadmium levels. Another unconsidered consequence of trying to change a balanced ecosystem to deliver only one outcome.

      • Macro 5.3.2

        The size of NZ’s dairy herd is around 6.1 million cows at present. With the down turn of milk powder prices it is estimated that the size will reduce by around 1 million for the next milk season. That’s 1 million cows slaughtered just like that. We are such a caring species.
        I don’t drink Fontarra milk for much the same reasons as you outline above, and because of the way our dairy herd is treated. The natural life of a dairy cow is around 20 years, but the life of a cow in a “conventionally farmed” dairy herd in NZ is around 5 years. Fed crap, continually impregnated from a young age, and exploited over their short life time, these animals die prematurely.

        • maui 5.3.2.1

          Another interesting point he made is those 6 million cows each produce as much urine waste as 14 people, so that is the equivalent of about 90 million humans living in rural areas pissing all over our countryside. No wonder our rivers are in such a state.

          I haven’t made the jump to change my consumer habits of a lifetime, I still have mass produced milk and I eat red meat. But when you lay out all the destructive things in the industry it does make you think – should I be supporting this?

  6. esoteric pineapples 6

    “This could be grim.”

    Or not – sometimes when bubbles burst it means ugly developments of one kind and another can’t go ahead. The more milk prices drop the more chance my favourite river won’t be dammed and all the rivers in my region become unswimmable.

    • Chooky 6.1

      urmmm…but they may be full of foreign swimmers…you know the foreign ones who have bought up all the bankrupt New Zealand farmland

      • esoteric pineapples 6.1.1

        I’m happy to share if the water is clean.

        • Chooky 6.1.1.1

          like the Yangtze or Ganges…unfortunately over- population is not good for clean rivers…or rivers full stop.

    • Colonial Viper 6.2

      The more milk prices drop the more chance my favourite river won’t be dammed and all the rivers in my region become unswimmable.

      Works both ways. Farmers might decide to try and maxmise their output to make up for the shortfall in per kg pricing, for instance.

      • esoteric pineapples 6.2.1

        That’s possibly true. But while milk prices remain especially low, no increase in production will make investing in a dam profitable for farmers. I think the dam thing is a bit of a ponzi scheme anyway.

        The government puts money up front, the constructors take a cut, farmers who have sheep & beef properties sell their land at an inflated price to a dairy investor, banks make money lending to the purchaser, agricultural companies make money out of supplying irrigators etc, the irrigation scheme becomes unprofitable, and the whole thing deflates leaving the tax payer and rater payer to pay for someone else’s profits at the same time as not having a clean river to swim in any more.

  7. Draco T Bastard 7

    Analysts predict more misery ahead for investors in the world’s second largest economy.

    Actually, indications are that China is the worlds largest economy.

    Now many Chinese citizens will have worthless shares and debt to repay.

    That would be the same as what happened to many people in The Great Depression.

    And the implications for New Zealand? Reduced consumer confidence and discretionary spending power are bound to hurt sales of milk, wine, and other items that we export not to mention a reduction in inbound tourism.

    The silver lining being that the house prices in Auckland may hold steady for awhile if not actually drop.

    The lesson to be taken home from all of this is, simply, that the market system doesn’t work, that that failure to work is exacerbated by the existence of rich people and that we need to be looking for a replacement system and getting rid of rich people.

    • Chooky 7.1

      @ DTB…re – “The silver lining being that the house prices in Auckland may hold steady for awhile if not actually drop”

      Ummm….I wouldnt count on house prices to fall

      ….not with the huge population and pressure coming out of China…I.3 billion people…excess of 55 million males to females by 2020 (could swamp NZ many times over…NZ is paradise)
      ….the demand to get out of and take money out of grossly overpopulated, human rights violations, environmentally trashed China with its share market plummeting is HUGE

      http://www.smh.com.au/business/comment-and-analysis/wall-of-chinese-capital-buying-up-australian-properties-20150628-ghztdf.html#ixzz3gVPV2Oew

      • Draco T Bastard 7.1.1

        Well, I did say ‘may’ help but considering the draconian (I really love that word 😈 ) actions that the Chinese government have already taken regarding their stock market crash they may just decide to stop all funds leaving the country. It’s certainly something that I’d look at doing in their position.

        • Chooky 7.1.1.1

          possibly… but I dont think so unfortunately …they want to extend their influence and spread their risks….aren’t many of the loans made for foreign investment made from the Chinese Banks

    • Phil 7.2

      indications are that China is the worlds largest economy.

      Pedantry:

      1) The quality of China’s official statistics leaves a lot to be desired, and certainly cannot be relied upon for as accurate a measurement as most of the western economies that have much more transparent and audited processes for measuring GDP. That the World Bank has had a crack at doing this comparison is admirable, but I think even they would admit there is a lot of uncertainty in Chinese data.

      2) ‘Largest’ can mean a lot of different things. GDP is a measure of income only , so even if Chinese GDP is now larger than the US, it’s unlikely to top the total assets or average per-capita income of the US economy for quite some time yet.

      What I mean is; for many years you’re earning $1.00 a day and your neighbor has been earning $0.50c. Suddenly your neighbor’s income goes up to $1.01. Is s/he now “richer” than you? Probably not, because you’ve got many years of accumulated assets and resources behind you that they have not.

      • Colonial Viper 7.2.1

        congrats, you just successfully defined “pedantry.”

      • Draco T Bastard 7.2.2

        Even the article I linked to said it was contentious but it is something that will happen sooner or later (and probably sooner) even if it hasn’t happened yet.

  8. Ovid 8

    The Economist foresaw this back in April:

    For those with a cautious bent, there is no shortage of warning signs. Three are especially noteworthy. First, valuations are beginning to look stretched and, in some cases, plainly absurd. ChiNext, China’s small-cap board, has a trailing price-earnings (PE) ratio of 90, more than double that of internet stocks at the peak of America’s dotcom bubble in 2000. Second, leverage has soared over the course of the rally. Outstanding loans to stock investors reached a record 1.67 trillion yuan ($269 billion) as of April 13th, up some 300% from a year earlier. Finally, many of those rushing to snap up stocks are small-time day traders with little understanding of what they are buying. Chinese investors opened nearly 5m trading accounts in March, a stampede that has continued into April. A survey by China’s Southwestern University of Finance and Economics found that two-thirds of new investors last year did not complete high school.

    • Ad 8.1

      Just step back a bit a consider why this is less likely to be the crisis the left wants it to be:

      Less than 15% of China’s household financial assets are involved in the sharemarket. This is why soaring shares did little to boost consumption and crashing share prices won’t hurt it much. While many stocks were bought on debt, that represents just 1.5% of total assets in the Chinese banking system.

      Happy to be analysed otherwise, but there are better reasons to forecast doom for China than its sharemarket.

  9. Kevin 9

    A few things to consider:

    China’s economy is predicated on a massive working-age peasant population. As the population gets older this work force will naturally start shrinking and with it the economy.

    China’s workforce is mostly unskilled and inefficient. Something like one American worker is worth 100 chinese workers.

    China is a third-world Muldoonist economy. There is nothing innovative about it. Their whole economy is based around creating consumer goods for western companies cheaply.

    Corruption is rampant and the Chinese government has their fingers in every pie. That means businesses that should have gone bust are allowed to stay in business through subsidies because some bureaucrat has a self-interest in the business. For now China can afford to do this but once the number of inefficient businesses outnumbers the ones that are actually making money then the cash will soon run out.

    Because of China’s disastrous one-child policy one working chinese will be having to support 12 or 15 retired chinese. When I put this to a chinese woman she replied that the retired chinese could support themselves. I guess she didn’t get that most working chinese work for sustenance wages and are unlikely to be able to save much money for their retirement.

    It is is sheer lunacy for our government to put all our eggs in China. What we need to do, if we’re not doing it already, is diversify as much as possible and look for new emerging markets, especially those markets likely to take China’s place.

    • vaughan little 9.1

      there’s quite a bit of innovation in tech/e commerce.

    • Sable 9.2

      China has recently amended its one child policy. I agree it was never a good idea to start with but the problems they have with population control are very difficult to manage.

      Corruption is indeed also a very big issue that has only been partly addressed so spot on there too. That said the same could be said of the USA, UK, EU and Australia/NZ.

      Where I don’t agree is the comment regarding US workers. In my experience a good portion of the US workforce is either ill educated or illiterate on one level or another. By contrast the standard of education in China is high with savage competition to get into the top three tiers of schooling which lead to the best universities. All in all China’s knowledge base is probably stronger than the US. On that basis alone I would have more faith in China’s longevity than the USA.

      By the way which emerging markets are you referring to? Other BRICS nations? Just curious…..

      • Kevin 9.2.1

        “By the way which emerging markets are you referring to? Other BRICS nations? Just curious…..”

        Just guessing but India could possibly be one, and possibly Malaysia.

    • Draco T Bastard 9.3

      Wow, you really sound like someone who thinks that nothing changes.

      China’s workforce is mostly unskilled and inefficient. Something like one American worker is worth 100 chinese workers.

      That may be true today but it won’t be true tomorrow. China are building up better factories all the time – usually by having corporations like Apple building them and then reverse engineering them.

      It is is sheer lunacy for our government to put all our eggs in China. What we need to do, if we’re not doing it already, is diversify as much as possible and look for new emerging markets, especially those markets likely to take China’s place.

      That bit I’d agree with except the delusion about emerging markets – they to are developing and will be able to supply themselves with everything that they need hence trade in the long term is dead. You can only get trade between specialists and countries, if they want to develop, don’t specialise.

      • Kevin 9.3.1

        “That may be true today but it won’t be true tomorrow. China are building up better factories all the time – usually by having corporations like Apple building them and then reverse engineering them.”

        That’s basically what Japan did – took western technology, reverse engineered, and then innovated.

        The problem is with China I can’t think of one example where they’ve actually done that.

        • Liberal Realist 9.3.1.2

          If China and it’s partners are successful with their macro-economic long term strategy, China will become the new global powerhouse.

          Below is an example, 21st century silk road.

          https://tinyurl.com/pxk9dsr

        • Colonial Viper 9.3.1.3

          That’s basically what Japan did – took western technology, reverse engineered, and then innovated.

          The problem is with China I can’t think of one example where they’ve actually done that.

          How about this article:

          But, many executives at Chinese and Western companies contend, China’s technology sector is reaching a critical mass of expertise, talent and financial firepower that could realign the power structure of the global technology industry in the years ahead.

          “Traditionally Chinese companies were fast followers, but we are starting to see true innovation,” said Colin Light, partner at PricewaterhouseCoopers…

          But in the past decade, Huawei overtook Western rivals such as Nokia Corp. and Alcatel-Lucent SA in the telecom-gear market. Part of its success stemmed from Huawei engineers’ creative ways to upgrade wireless networks using software instead of a costly method of replacing all hardware components, according to Mr. Zhou.

          Huawei now has an R&D center in Shanghai that employs more than 10,000 engineers, many of whom have computer-science degrees. As the mobile industry deploys faster fourth-generation networks, Huawei is already working on the technology for fifth-generation networks, which could be ready around 2020.

          Huawei’s global expansion has met some skepticism. Last year, some European Union officials alleged that unfair subsidies from the Chinese government allowed Huawei to sell its gear at lower prices in Europe. Huawei denied those allegations.

          In October, when Danish telecom carrier TDC A/S announced a $700-million deal to replace its existing Ericsson equipment with Huawei’s gear, TDC Chief Executive Carsten Dilling said that he chose Huawei for its technical expertise, not its prices—adding that Huawei was “actually quite expensive.”

          http://www.wsj.com/articles/SB10001424052702303819704579320544231396168

    • DoublePlusGood 9.4

      Given that their one-child policy stopped their population hitting 2 billion I’d say that isn’t a disaster by any means, given their already dire level of overpopulation.

      • Kevin 9.4.1

        When combined with a economy that’s based on a massive working age workforce it is a disaster.

        • DoublePlusGood 9.4.1.1

          Oh, the economy might tank. But what good is an economy if you trash the ability of the land to support people due to overpopulation?

    • Ad 9.5

      China’s population is only getting older very slowly. The far more direct economic driver remains the shift from rural villages to the cities.

      Calling China a “third-world Muldoonist economy” kind of undercooks the extent and limits of the Chinese Communist Party’s command of economic and social levers. Far be it for me to critique lefties for wanting a strong hand in the economy.

      As for “fingers in every pie”, what is wrong with that? Why is inefficiency bad again?

      On the one-child policy, the real shift is towards a consumption-led economy, and less so a manufacturing one. There’s now a far stronger safety net than previous decades, with health insurance, old-age benefits, and free schooling. What is being blunted is the remarkable Chinese propensity to save. At 40% of income, the household rate of saving has stopped rising.

      • nadis 9.5.1

        Ad – I think your view of chinese demographics is a few decades out of date. China actually has a terrible demographic problem – one of the worst outlooks in the world. Check out this graph for instance:

        http://static.businessinsider.com/image/528612e06bb3f7e8251e069e/image.jpg

        China faces a double whammy – declining overall population and increasing dependency ratio.

        And a reason why it isn’t a good idea to long run bet against the US, certainly relative to China is the same demographics in US- it has the healthiest outlook of any major country.

        Labour force growth, 2000-2050

        The US has the opposite outlook – a growing population and a declining dependency ratio. In the long run, demographics are one of the key drivers of long term growth.

        And re the chinese sharemarket, the shanghai composite index is back to the level it was in late March. Not much of a crash (so far).

        • Colonial Viper 9.5.1.1

          The US has the opposite outlook – a growing population and a declining dependency ratio. In the long run, demographics are one of the key drivers of long term growth.

          That’s true in the most generic terms.

          But no corporation is treating the USA as a growth market. They do however view China as a market with a rapidly growing middle class wanting to consume modern western goods.

          US consumers are tapped out on debt, only the top 10% have benefitted economically over the last 30 years, and the evisceration of their welfare state means that the entire bottom half of Americans have next to no discretionary income to spend. Workforce participation is hovering around multi-decade lows.

          The American consumer, which comprises 71% of the US economy, is knocked out on their feet.

          • nadis 9.5.1.1.1

            The American consumer, which comprises 71% of the US economy

            That’s one of the most misunderstood economic “statistics” of all time. It’s an outcome of the structure of the US economy rather than any insight into what drives the American economy.

            C + G + I + X – M

            Guess what makes up C? (Clue, its not just retail sales – they are 27% of GDP)

            The C in the GDP formula doesn’t stand for Consumer, it stands for Consumption — 2 very different things,

        • Ad 9.5.1.2

          Declining working population ratio on one graph and an overanxious academic? Please.
          Plus, I was commenting on its relative important as a driver of economic growth.

          I didn’t comment on its relativity to US so no idea where that came from.

          You’re simply agreeing with me on the Chinese share market.

          Would be far more interesting if people tied commenting on some more present risks to the Chinese economy. Such as:

          – Residential property overvaluations
          – Oil commodity exposure (irrespective of barrel price)
          – The limits of strong state economic intervention and the slow eclipse of the Chinese Communist Party
          – The political and trade impact of its isolation from TPP
          – etc

          People, the share market is a distraction.

    • Save NZ 9.6

      +1 Kevin

      It is is sheer lunacy for our government to put all our eggs in China. What we need to do, if we’re not doing it already, is diversify as much as possible and look for new emerging markets, especially those markets likely to take China’s place.

      I have an even more radical thought, maybe instead of exporting our raw materials, we use our food to feed our own country, and create jobs by processing items here.

      Instead of subsidising Serco and charter schools we use that money to set up (for example) plants to process wood, plants to process fish, plants to process wool into other products. Schemes for apprenticeships, schemes for builders to build cheap state houses etc Schemes to help IT and innovation locally.

      We try to lift wages and improve productivity.

      We actually charge the US to spy here, by an agreement for example to buy x amount of produce or pump x dollars into our economy. And they can’t spy or have others spy on Kiwis or do any mass surveillance. Purely for defence purposes, not economic or political spying.

      Less food/produce miles and a more guaranteed market. We use subsidies to create jobs.

      Soon however, we won’t own the land to farm here. Quality food and raw materials will go up as our food and materials is exported and the supply chain excludes NZ and goes directly offshore.

      • Colonial Rawshark 9.6.1

        this is the kind of out-of-the-box thinking NZ desperately needs. At the moment we are too focussed on how to best manage the mess of a system as it exists today. We need to change the game.

  10. vaughan little 10

    the jury’s out on how consumption will be impacted.

    investors numbered only “roughly” a hundred million, so arguably it won’t have a big effect on the wider economy.

    michael pettis suggests that the biggest effect might be from the hit to the government’s reputation. if people stop trusting that the state has a firm grip on the economy, that might have quite a consequential effect on confidence. link here:

    http://blog.mpettis.com/2015/07/interpreting-information-in-chinas-stock-markets/

  11. vto 11

    stampeding out of there and into Auckland before stampeding off somewhere else sometime later …..

  12. vaughan little 12

    From Ambrose Evans Pritchard over at the telegraph:

    “Western banks say they are coming under heavy pressure from Chinese officials to refrain from negative comments. They are effectively gagged if they wish to do business in China.”

  13. Clean_power 13

    Do not despair. Timing and patience are characteristics of any GOOD investor. So, sit tight until the moment comes to buy again.

    • McFlock 13.1

      The only people despairing are those who had money spare to gamble on the stockmarket. The establishment always has the odds stacked in its favour.

  14. Rolf 14

    If you like me live in China and work as a foreign correspondent, it looks different from inside. It is absolutely a non issue. OK, people speculated, the share market went up like a balloon, popped, and came down as a stone. Did anyone expect anything else? The Chinese say, you throw a stone in the air, at some point it returns to earth, while stupid foreigners stand there gawking and think it is strange. What did they expect, that it continue forever up? Share market and all speculation is a jojo business, it goes up, and come down. Some gamblers got burned, fine, hope they learn a lesson. Earlier people speculated in the residential home market, but the government put a firm end to that. So what about the residential speculation in New Zeeland, they have done nothing. Could that be because of the famous New Zeeland corruption, that the decision makers in parliament are just those who have most to gain from speculation? Just wonder how much John Key has made on his personal residential investment.

Recent Comments

Recent Posts

  • All of Us, All of Us.
    Mutual Support: Democracy in New Zealand will not be saved by pitting Pakeha against Māori, but by joining together with every other citizen who still understands the meaning of working together to build something good that will last. Call that co-governance if you like, or call it something else – ...
    7 hours ago
  • Tracking the KPIs of eight-year-olds
    Imagine being a great big business success enjoying your lavish Waiheke island property with infinity pool and ballroom and riparian rights and heli-pad. Sweeeet. But imagine, also, having to take orders from some little bureaucratic oik about how often you can land a chopper on it.I can’t, really, but it ...
    More Than A FeildingBy David Slack
    9 hours ago
  • Life Church Confirms its Leader Was Paid $10,000 For Investigating Sexual Misconduct at Hillsong Chu...
    Hi,New Zealand’s Life megachurch has confirmed to Webworm it was paid $10,000 by Hillsong for investigating Brian Houston’s sexual misconduct allegations.Following Webworm publishing this piece about the $10,000 payment, Life’s Corporate Communications Manager Phil Irons has confirmed what it was for:Paul [de Jong] was engaged by Hillsong to assist in ...
    David FarrierBy David Farrier
    10 hours ago
  • 2023 SkS Weekly Climate Change & Global Warming News Roundup #12
    A chronological listing of news articles posted on the Skeptical Science Facebook Page during the past week: Sun, Mar 19, 2023 thru Sat, Mar 25, 2023. Story of the Week Q&A: IPCC wraps up its most in-depth assessment of climate change The final part of the world’s most comprehensive assessment of ...
    10 hours ago
  • What I wanted to say before the mob stopped women speaking
    by Daphna Whitmore I thought the #LetWomenSpeak meeting would be a good time to talk about free speech and why it is important for the left. Then the mob stampeded the open-air gathering and no one got to speak. Here’s what I was had prepared. Today I want to talk ...
    RedlineBy Admin
    21 hours ago
  • Women’s rights meeting silenced
    By Don Franks Today my friend Ani O’Briien went to a meeting in Auckland and wrote: “No sooner had Kellie-Jay Keen Minshull arrived at the Rotunda, a protestor (who had managed to get past the barrier) ran at her and threw a red substance all over her and a security ...
    RedlineBy Admin
    21 hours ago
  • A serving of soup curbs Posie Parker’s appetite for speaking – and shows that might is right in ...
    Jonathan Milne, managing editor for Newsroom Pro, has expressed his indignation about the outcome of a court decision yesterday in an article headed Posie Parker wins the beautiful freedom to make an ugly argument. Newsroom Pro laments: High Court Justice David Gendall has regretfully allowed an outspoken anti-trans activist to enter New ...
    Point of OrderBy Bob Edlin
    1 day ago
  • It’s official: National have an education policy
    imagine my surprise this week when the National Party, in their infinite wisdom, decided to release an education policy. As you can imagine, this got us so riled up here in the office that we dusted off our Windows XP laptop, waiting 17 hours for all the updates to be ...
    My ThinksBy boonman
    1 day ago
  • Prosperity through Productivity.
    Come on Jess thought Mr Evans come on. He watched the large clock on the wall tick closer to 8:40am. Come on girl.In two minutes he had to submit the class attendance report and with Jess having already been late once that term it’d mean an automatic visit from the ...
    Nick’s KōreroBy Nick Rockel
    1 day ago
  • The hoon for the week that was to March 25
    This week’s UN IPCC report warned climate emissions will need to be cut by almost half by 2030, if warming is to be limited to 1.5°C. Bronwyn Hayward points out in The Hoon podcast how far behind NZ’s government and councils are now on climate action compared to the rest ...
    The KakaBy Peter Bale
    1 day ago
  • The big question for Labour: Will Hipkins have any more success than Ardern did with the top priorit...
    Chris  Hipkins,  after  he became prime minister, committed  to defeating the  cost-of- living crisis. He  proceeded to make a  bonfire of policies  that were at  the  heart of Jacinda Ardern’s administration.  But, as   Richard Prebble pointed out this week, “the government has not just U-turned, it has repudiated the ...
    Point of OrderBy tutere44
    2 days ago
  • Reality check.
    There are some wellness, crystal-gazing, holistic spiritual guidance types in my disaster-hit coastal community who insist that the power of positive thinking will overcome the physical and material damages incurred by the community. They object to restrictions on road travel … Continue reading ...
    KiwipoliticoBy Pablo
    2 days ago
  • High Performance Instability in the Financial Sector
    Evaluating the recent crashes of Silicon Valley Bank in the US and Credit Suisse in Switzerland plus two other banks (perhaps more by the time you read this) needs to begin with a review of the inevitable instability in the financial sector. The financial sector is inherently unstable, like military ...
    PunditBy Brian Easton
    2 days ago
  • The week in review
    1. We see here new police minister Ginny Andersen. Which larger than life NZ political figure was her great-uncle?a. Rob Muldoonb. Bill Andersenc. Richard John Seddond. Norman Kirk2. We see here archival footage of Ginny Andersen coming out of her electorate office to ask ex-tobacco lobbyist Chris Bishop if he ...
    More Than A FeildingBy David Slack
    2 days ago
  • Nash splashes out with a $900,000 investment in the blue economy (or is it more corporate welfare?)
    Buzz from the Beehive Stuart Nash, speaking as Minister of Oceans and Fisheries, one of his remaining portfolios after he was dropped down the Hipkins Government batting order, has drawn attention to the blue economy and its potential. Nash says the government is investing in the blue economy, or – ...
    Point of OrderBy Bob Edlin
    2 days ago
  • Ask Me Anything about the week to March 24
    Photo by Josh Mills on UnsplashIt’s that time of the week for an ‘Ask Me Anything’ session for paying subscribers about the week that was for the next hour, including:The runs on Silicon Valley Bank and First Republic Bank on the west coast of the United States that forced the ...
    The KakaBy Bernard Hickey
    2 days ago
  • Weekly Roundup 24-March-2023
    Roundup is back! We skipped last week’s Friday post due to a shortage of person-power – did you notice? Lots going on out there… Our header image this week shows a green street that just happens to be Queen St, by @chamfy from Twitter. This week (and last) in ...
    Greater AucklandBy Greater Auckland
    2 days ago
  • Gordon Campbell on the Keen-Minshull visit
    After threatening Prime Minister Chris Hipkins of consequences if he dared to bar her entry, Kellie-Jay Keen-Minshull has been given her visa, regardless. This will enable her to hold rallies in Auckland and Wellington this weekend, and spread her messages of hostility against an already marginalised trans community. Neo-Nazis may, ...
    2 days ago
  • BRYCE EDWARDS’ Political Roundup:  NZ needs to distance itself from Australia’s anti-China nucl...
    * Bryce Edwards writes – The New Zealand Government has been silent about Australia’s decision to commit up to $400bn acquiring nuclear submarines, even though this is a significant threat to peace and stability in the Asia Pacific. The deal was struck by the Albanese Labor Government as ...
    Point of OrderBy poonzteam5443
    2 days ago
  • Wayne Brown's #Auxit moment
    Boomers voted him in, but Brown’s Trumpish moments might spook Aucklanders worried about what a change to National nationally might mean. Photo: Lynn Grieveson/Getty ImagesTL;DR: Auckland Mayor Wayne Brown has become our version of Donald Trump and Boris Johnson, except without any of the insatiable appetite for media appearances. He ...
    The KakaBy Bernard Hickey
    2 days ago
  • Bryce Edwards: NZ needs to distance itself from Australia’s anti-China nuclear submarines
    The New Zealand Government has been silent about Australia’s decision to commit up to $400bn acquiring nuclear submarines, even though this is a significant threat to peace and stability in the Asia Pacific. The deal was struck by the Albanese Labor Government as part of its Aukus pact with the ...
    Democracy ProjectBy bryce.edwards
    2 days ago
  • Posie Parker vs Transgender Rights.
    Recently you might have heard of a person called Posie Parker and her visit to Aotearoa. Perhaps you’re not quite sure what it’s all about. So let’s start with who this person is, why their visit is controversial, and what on earth a TERF is.Posie Parker is the super villain ...
    Nick’s KōreroBy Nick Rockel
    2 days ago
  • Select Committee told slow down; you’re moving too fast
    The chair of Parliament’s Select Committee looking at the Government’s resource management legislation wants the bills sent back for more public consultation. The proposal would effectively kill any chance of the bills making it into law before the election. Green MP, Eugenie Sage, stressing that she was speaking as ...
    PolitikBy Richard Harman
    2 days ago
  • Skeptical Science New Research for Week #12 2023
    Open access notables  The United States experienced some historical low temperature records during the just-concluded winter. It's a reminder that climate and weather are quite noisy; with regard to our warming climate,, as with a road ascending a mountain range we may steadily change our conditions but with lots of ...
    3 days ago
  • What becomes of the broken hearted? Nanny State will step in to comfort them
    Buzz from the Beehive The Nanny State has scored some wins (or claimed them) in the past day or two but it faltered when it came to protecting Kiwi citizens from being savaged by one woman armed with a sharp tongue. The wins are recorded by triumphant ministers on the ...
    Point of OrderBy Bob Edlin
    3 days ago
  • Acceptance, decency, road food.
    Sometimes you see your friends making the case so well on social media you think: just copy and share.On acceptance and decency, from Michèle A’CourtA notable thing about anti-trans people is they way they talk about transgender women and men as though they are strangers “over there” when in fact ...
    More Than A FeildingBy David Slack
    3 days ago
  • Climate Change: More Labour sabotage
    Not that long ago, things were looking pretty good for climate change policy in Aotearoa. We finally had an ETS, and while it was full of pork and subsidies, it was delivering high and ever-rising carbon prices, sending a clear message to polluters to clean up or shut down. And ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • Is bundling restricting electricity competition?
    Comparing (and switching) electricity providers has become easier, but bundling power up with broadband and/or gas makes it more challenging. Photo: Lynn Grieveson / The Kākā TL;DR: The new Consumer Advocacy Council set up as a result of the Labour Government’s Electricity Price Review in 2019 has called on either ...
    The KakaBy Bernard Hickey
    3 days ago
  • Westland Milk puts heat on competitors as global dairy demand  remains softer for longer
    Hokitika-based Westland Milk Products  has  put the heat on dairy giant Fonterra with  a $120m profit turnaround in 2022, driven by record sales. Westland paid its suppliers a 10c premium above the forecast Fonterra price per kilo, contributing $535m to the West Coast and Canterbury economies. The dairy ...
    Point of OrderBy tutere44
    3 days ago
  • BRYCE EDWARDS’ Political Roundup:  The Beehive’s revolving door and corporate mateship
    * Bryce Edwards writes – New Zealanders are uncomfortable with the high level of influence corporate lobbyists have in New Zealand politics, and demands are growing for greater regulation. A recent poll shows 62 per cent of the public support having a two-year cooling off period between ministers leaving public ...
    Point of OrderBy poonzteam5443
    3 days ago
  • Bryce Edwards: The Beehive’s revolving door and corporate mateship
    New Zealanders are uncomfortable with the high level of influence corporate lobbyists have in New Zealand politics, and demands are growing for greater regulation. A recent poll shows 62 per cent of the public support having a two-year cooling off period between ministers leaving public office and becoming lobbyists and ...
    Democracy ProjectBy bryce.edwards
    3 days ago
  • A miracle pill for our transport ills
    This is a guest post by accessibility and sustainable transport advocate Tim Adriaansen It originally appeared here.   A friend calls you and asks for your help. They tell you that while out and about nearby, they slipped over and landed arms-first. Now their wrist is swollen, hurting like ...
    Greater AucklandBy Guest Post
    3 days ago
  • The Surprising Power of Floating Wind Turbines
    Floating offshore wind turbines offer incredible opportunities to capture powerful winds far out at sea. By unlocking this wind energy potential, they could be a key weapon in our arsenal in the fight against climate change. But how developed are these climate fighting clean energy giants? And why do I ...
    3 days ago
  • The next Maori challenge
    Over the past two or three weeks, a procession of Maori iwi and hapu in a series of little-noticed appearances before two Select Committees have been asking for more say for Maori over resource management decisions along the co-governance lines of Three Waters. Their submissions and appearances run counter ...
    PolitikBy Richard Harman
    3 days ago
  • Secret “war-crime” warrants by International Criminal Court is mischief-making
    The decision of the International Criminal Court (ICC) to issue war crimes arrest warrants for the Russian President and the Russia Children Ombudsman may have been welcomed by the ideologically committed but otherwise seems to have been greeted with widespread cynicism (see Situation in Ukraine: ICC judges issue arrest warrants ...
    4 days ago
  • How to answer Drunk Uncle Kevin's Climate Crisis reckons
    Let’s say you’re clasping your drink at a wedding, or a 40th, or a King’s Birthday Weekend family reunion and Drunk Uncle Kevin has just got going.He’s in an expansive frame of mind because we’re finally rid of that silly girl. But he wants to ask an honest question about ...
    More Than A FeildingBy David Slack
    4 days ago
  • National’s Luxon may be glum about his poll ratings but has he found a winner in promising to rai...
    National Party leader Christopher Luxon may  be feeling glum about his poll ratings, but  he could be tapping  into  a rich political vein in  describing the current state of education as “alarming”. Luxon said educational achievement has been declining,  with a recent NCEA pilot exposing just how far it has ...
    Point of OrderBy tutere44
    4 days ago
  • Climate Change: More Labour foot-dragging
    Yesterday the IPCC released the final part of its Sixth Assessment Report, warning us that we have very little time left in which to act to prevent catastrophic climate change, but pointing out that it is a problem that we can solve, with existing technology, and that anything we do ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Te Pāti Māori Are Revolutionaries – Not Reformists.
    Way Beyond Reform: Rawiri Waititi and Debbie Ngarewa-Packer have no more interest in remaining permanent members of “New Zealand’s” House of Representatives than did Lenin and Trotsky in remaining permanent members of Tsar Nicolas II’s “democratically-elected” Duma. Like the Bolsheviks, Te Pāti Māori is a party of revolutionaries – not reformists.THE CROWN ...
    4 days ago
  • When does history become “ancient”, on Tinetti’s watch as Minister of Education – and what o...
    Buzz from the Beehive Auckland was wiped off the map, when Education Minister Jan Tinetti delivered her speech of welcome as host of the inaugural Conference of Pacific Education Ministers “here in Tāmaki Makaurau”. But – fair to say – a reference was made later in the speech to a ...
    Point of OrderBy Bob Edlin
    4 days ago
  • Climate Catastrophe, but first rugby.
    Morning mate, how you going?Well, I was watching the news last night and they announced this scientific report on Climate Change. But before they got to it they had a story about the new All Blacks coach.Sounds like important news. It’s a bit of a worry really.Yeah, they were talking ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • What the US and European bank rescues mean for us
    Always a bailout: US Treasury Secretary Janet Yellen said the Government would fully guarantee all savers in all smaller US banks if needed. Photo: Getty ImagesTL;DR: No wonder an entire generation of investors are used to ‘buying the dip’ and ‘holding on for dear life’. US Treasury Secretary Janet Yellen ...
    The KakaBy Bernard Hickey
    4 days ago
  • Bryce Edwards: Who will drain Wellington’s lobbying swamp?
    Wealthy vested interests have an oversized influence on political decisions in New Zealand. Partly that’s due to their use of corporate lobbyists. Fortunately, the influence lobbyists can have on decisions made by politicians is currently under scrutiny in Guyon Espiner’s in-depth series published by RNZ. Two of Espiner’s research exposés ...
    Democracy ProjectBy bryce.edwards
    4 days ago
  • It’s Raining Congestion
    Yesterday afternoon it rained and traffic around the region ground to a halt, once again highlighting why it is so important that our city gets on with improving the alternatives to driving. For additional irony, this happened on the same day the IPCC synthesis report landed, putting the focus on ...
    4 days ago
  • Checking The Left: The Dreadful Logic Of Fascism.
    The Beginning: Anti-Co-Governance agitator, Julian Batchelor, addresses the Dargaville stop of his travelling roadshow across New Zealand . Fascism almost always starts small. Sadly, it doesn’t always stay that way. Especially when the Left helps it to grow.THERE IS A DREADFUL LOGIC to the growth of fascism. To begin with, it ...
    4 days ago
  • Good Friends and Terrible Food
    Hi,From an incredibly rainy day in Los Angeles, I just wanted to check in. I guess this is the day Trump may or may not end up in cuffs? I’m attempting a somewhat slower, less frenzied week. I’ve had Unknown Mortal Orchestra’s new record on non-stop, and it’s been a ...
    David FarrierBy David Farrier
    4 days ago
  • At a glance – What evidence is there for the hockey stick?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    5 days ago
  • Carry right on up there, Corporal Espiner
    RNZ has been shining their torch into corners where lobbyists lurk and asking such questions as: Do we like the look of this?and Is this as democratic as it could be?These are most certainly questions worth asking, and every bit as valid as, say:Are we shortchanged democratically by the way ...
    More Than A FeildingBy David Slack
    5 days ago
  • This smells
    RNZ has continued its look at the role of lobbyists by taking a closer look at the Prime Minister's Chief of Staff Andrew Kirton. He used to work for liquor companies, opposing (among other things) a container refund scheme which would have required them to take responsibility for their own ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Major issues on the table in Mahuta’s  talks in Beijing with China’s new Foreign Minister
    Foreign Minister Nanaia Mahuta has left for Beijing for the first ministerial visit to China since 2019. Mahuta is  to  meet China’s new foreign minister Qin Gang  where she  might have to call on all the  diplomatic skills  at  her  command. Almost certainly she  will  face  questions  on what  role ...
    Point of OrderBy tutere44
    5 days ago
  • Inside TOP's Teal Card and political strategy
    TL;DR: The Opportunities Party’s Leader Raf Manji is hopeful the party’s new Teal Card, a type of Gold card for under 30s, will be popular with students, and not just in his Ilam electorate where students make up more than a quarter of the voters and where Manji is confident ...
    The KakaBy Bernard Hickey
    5 days ago
  • Make Your Empties Go Another Round.
    When I was a kid New Zealand was actually pretty green. We didn’t really have plastic. The fruit and veges came in a cardboard box, the meat was wrapped in paper, milk came in a glass bottle, and even rubbish sacks were made of paper. Today if you sit down ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Gordon Campbell on how similar Vladimir Putin is to George W. Bush
    Looking back through the names of our Police Ministers down the years, the job has either been done by once or future party Bigfoots – Syd Holland, Richard Prebble, Juduth Collins, Chris Hipkins – or by far lesser lights like Keith Allen, Frank Gill, Ben Couch, Allen McCready, Clem Simich, ...
    5 days ago
  • CHRIS TROTTER:  Te Pāti Māori’s uncompromising threat to the status quo
    Chris Trotter writes – The Crown is a fickle friend. Any political movement deemed to be colourful but inconsequential is generally permitted to go about its business unmolested. The Crown’s media, RNZ and TVNZ, may even “celebrate” its existence (presumably as proof of Democracy’s broad-minded acceptance of diversity). ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Bryce Edwards: Shining a bright light on lobbyists in politics
    Four out of the five people who have held the top role of Prime Minister’s Chief of Staff since 2017 have been lobbyists. That’s a fact that should worry anyone who believes vested interests shouldn’t have a place at the centre of decision making. Chris Hipkins’ newly appointed Chief of ...
    Democracy ProjectBy bryce.edwards
    5 days ago
  • Auckland Council Draft Budget – an unnecessary backwards step
    Feedback on Auckland Council’s draft 2023/24 budget closes on March 28th. You can read the consultation document here, and provide feedback here. Auckland Council is currently consulting on what is one of its most important ever Annual Plans – the ‘budget’ of what it will spend money on between July ...
    5 days ago
  • Talking’ Posey Parker Blues
    by Molten Moira from Motueka If you want to be a woman let me tell you what to do Get a piece of paper and a biro tooWrite down your new identification And boom! You’re now a woman of this nationSpelled W O M A Na real trans woman that isAs opposed ...
    RedlineBy Admin
    6 days ago
  • More Māori words make it into the OED, and polytech boss (with rules on words like “students”) ...
    Buzz from the Beehive   New Zealand Education Minister Jan Tinetti is hosting the inaugural Conference of Pacific Education Ministers for three days from today, welcoming Education Ministers and senior officials from 18 Pacific Island countries and territories, and from Australia. Here’s hoping they have brought translators with them – or ...
    Point of OrderBy Bob Edlin
    6 days ago
  • Social intercourse with haters and Nazis: an etiquette guide
    Let’s say you’ve come all the way from His Majesty’s United Kingdom to share with the folk of Australia and New Zealand your antipathy towards certain other human beings. And let’s say you call yourself a women’s rights activist.And let’s say 99 out of 100 people who listen to you ...
    More Than A FeildingBy David Slack
    6 days ago
  • The Greens, Labour, and coalition enforcement
    James Shaw gave the Green party's annual "state of the planet" address over the weekend, in which he expressed frustration with Labour for not doing enough on climate change. His solution is to elect more Green MPs, so they have more power within any government arrangement, and can hold Labour ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • This sounds familiar…
    RNZ this morning has the first story another investigative series by Guyon Espiner, this time into political lobbying. The first story focuses on lobbying by government agencies, specifically transpower, Pharmac, and assorted universities, and how they use lobbyists to manipulate public opinion and gather intelligence on the Ministers who oversee ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Letter to the NZ Herald: NCEA pseudoscience – “Mauri is present in all matter”
    Nick Matzke writes –   Dear NZ Herald, I am a Senior Lecturer in the School of Biological Sciences at the University of Auckland. I teach evolutionary biology, but I also have long experience in science education and (especially) political attempts to insert pseudoscience into science curricula in ...
    Point of OrderBy poonzteam5443
    6 days ago
  • So what would be the point of a Green vote again?
    James Shaw has again said the Greens would be better ‘in the tent’ with Labour than out, despite Labour’s policy bonfire last week torching much of what the Government was doing to reduce emissions. File Photo: Lynn Grieveson/Getty ImagesTL;DR: The Green Party has never been more popular than in some ...
    The KakaBy Bernard Hickey
    6 days ago
  • Gas stoves pose health risks. Are gas furnaces and other appliances safe to use?
    This is a re-post from Yale Climate Connections by Sarah Wesseler Poor air quality is a long-standing problem in Los Angeles, where the first major outbreak of smog during World War II was so intense that some residents thought the city had been attacked by chemical weapons. Cars were eventually discovered ...
    6 days ago
  • Genetic Heritage and Co Governance
    Yesterday I was reading an excellent newsletter from David Slack, and I started writing a comment “Sounds like some excellent genetic heritage…” and then I stopped.There was something about the phrase genetic heritage that stopped me in tracks. Is that a phrase I want to be saying? It’s kind of ...
    Nick’s KōreroBy Nick Rockel
    6 days ago
  • BRIAN EASTON: Radical Uncertainty
    Brian Easton writes – Two senior economists challenge some of the foundations of current economics. It is easy to criticise economic science by misrepresenting it, by selective quotations, and by ignoring that it progresses, like all sciences, by improving and abandoning old theories. The critics may go ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Geoffrey Miller: New Zealand’s Middle East strategy, 20 years after the Iraq War
    This week marks the twentieth anniversary of the Iraq War. While it strongly opposed the US-led invasion, New Zealand’s then Labour-led government led by Prime Minister Helen Clark did deploy military engineers to try to help rebuild Iraq in mid-2003. With violence soaring, their 12-month deployment ended without being renewed ...
    Democracy ProjectBy Geoffrey Miller
    6 days ago
  • The motorways are finished
    After seventy years, Auckland’s motorway network is finally finished. In July 1953 the first section of motorway in Auckland was opened between Ellerslie-Panmure Highway and Mt Wellington Highway. The final stage opens to traffic this week with the completion of the motorway part of the Northern Corridor Improvements project. Aucklanders ...
    6 days ago
  • Kicking National’s tyres
    National’s appointment of Todd McClay as Agriculture spokesperson clearly signals that the party is in trouble with the farming vote. McClay was not an obvious choice, but he does have a record as a political scrapper. The party needs that because sources say it has been shedding farming votes ...
    PolitikBy Richard Harman
    6 days ago
  • As long as there is cricket, the world is somehow okay.
    Rays of white light come flooding into my lounge, into my face from over the top of my neighbour’s hedge. I have to look away as the window of the conservatory is awash in light, as if you were driving towards the sun after a rain shower and suddenly blinded. ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • So much of what was there remains
    The columnists in Private Eye take pen names, so I have not the least idea who any of them are. But I greatly appreciate their expert insight, especially MD, who writes the medical column, offering informed and often damning critique of the UK health system and the politicians who keep ...
    More Than A FeildingBy David Slack
    1 week ago
  • 2023 SkS Weekly Climate Change & Global Warming News Roundup #11
    A chronological listing of news articles posted on the Skeptical Science Facebook Page during the past week: Sun, Mar 12, 2023 thru Sat, Mar 18, 2023. Story of the Week Guest post: What 13,500 citations reveal about the IPCC’s climate science report   IPCC WG1 AR6 SPM Report Cover - Changing ...
    1 week ago
  • Financial capability services are being bucked up, but Stuart Nash shouldn’t have to see if they c...
    Buzz from the Beehive  The building of financial capability was brought into our considerations when Social Development and Employment Minister Carmel Sepuloni announced she had dipped into the government’s coffers for $3 million for “providers” to help people and families access community-based Building Financial Capability services. That wording suggests some ...
    Point of OrderBy Bob Edlin
    1 week ago
  • Things that make you go Hmmmm.
    Do you ever come across something that makes you go Hmmmm?You mean like the song?No, I wasn’t thinking of the song, but I am now - thanks for that. I was thinking of things you read or hear that make you stop and go Hmmmm.Yeah, I know what you mean, ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • The hoon for the week that was to March 19
    By the end of the week, the dramas over Stuart Nash overshadowed Hipkins’ policy bonfire. File photo: Lynn GrieveasonTLDR: This week’s news in geopolitics and the political economy covered on The Kākā included:PM Chris Hipkins’ announcement of the rest of a policy bonfire to save a combined $1.7 billion, but ...
    The KakaBy Peter Bale
    1 week ago

  • Crown apology to Ngāti Kahungunu ki Wairarapa Tāmaki nui-a-Rua
    Treaty of Waitangi Negotiations Minister Andrew Little has delivered the Crown apology to Ngāti Kahungunu ki Wairarapa Tāmaki nui-a-Rua for its historic breaches of Te Tiriti of Waitangi today. The ceremony was held at Queen Elizabeth Park in Masterton, hosted by Ngāti Kahungunu ki Wairarapa Tāmaki nui-a-Rua, with several hundred ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Minister of Foreign Affairs meets with Chinese counterpart
    Minister of Foreign Affairs Nanaia Mahuta has concluded her visit to China, the first by a New Zealand Foreign Minister since 2018. The Minister met her counterpart, newly appointed State Councilor and Minister of Foreign Affairs, Qin Gang, who also hosted a working dinner. This was the first engagement between the two ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government delivering world-class satellite positioning services
    World-class satellite positioning services that will support much safer search and rescue, boost precision farming, and help safety on construction sites through greater accuracy are a significant step closer today, says Land Information Minister Damien O’Connor. Damien O’Connor marked the start of construction on New Zealand’s first uplink centre for ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • District Court Judges appointed
    Attorney-General David Parker has announced the appointment of Christopher John Dellabarca of Wellington, Dr Katie Jane Elkin of Wellington, Caroline Mary Hickman of Napier, Ngaroma Tahana of Rotorua, Tania Rose Williams Blyth of Hamilton and Nicola Jan Wills of Wellington as District Court Judges.  Chris Dellabarca Mr Dellabarca commenced his ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New project set to supercharge ocean economy in Nelson Tasman
    A new Government-backed project will help ocean-related businesses in the Nelson Tasman region to accelerate their growth and boost jobs. “The Nelson Tasman region is home to more than 400 blue economy businesses, accounting for more than 30 percent of New Zealand’s economic activity in fishing, aquaculture, and seafood processing,” ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • National’s education policy: where’s the funding?
    After three years of COVID-19 disruptions schools are finally settling down and National want to throw that all in the air with major disruption to learning and underinvestment.  “National’s education policy lacks the very thing teachers, parents and students need after a tough couple of years, certainty and stability,” Education ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Free programme to help older entrepreneurs and inventors
    People aged over 50 with innovative business ideas will now be able to receive support to advance their ideas to the next stage of development, Minister for Seniors Ginny Andersen said today. “Seniors have some great entrepreneurial ideas, and this programme will give them the support to take that next ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government target increased to keep powering up the Māori economy
    A cross government target for relevant government procurement contracts for goods and services to be awarded to Māori businesses annually will increase to 8%, after the initial 5% target was exceeded. The progressive procurement policy was introduced in 2020 to increase supplier diversity, starting with Māori businesses, for the estimated ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Continued progress on reducing poverty in challenging times
    77,000 fewer children living in low income households on the after-housing-costs primary measure since Labour took office Eight of the nine child poverty measures have seen a statistically significant reduction since 2018. All nine have reduced 28,700 fewer children experiencing material hardship since 2018 Measures taken by the Government during ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech at Fiji Investment and Trade Business Forum
    Deputy Prime Minister Kamikamica; distinguished guests, ladies and gentlemen. Tēnā koutou katoa, ni sa bula vinaka saka, namaste. Deputy Prime Minister, a very warm welcome to Aotearoa. I trust you have been enjoying your time here and thank you for joining us here today. To all delegates who have travelled to be ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government investments boost and diversify local economies in lower South Island
    $2.9 million convertible loan for Scapegrace Distillery to meet growing national and international demand $4.5m underwrite to support Silverlight Studios’ project to establish a film studio in Wanaka Gore’s James Cumming Community Centre and Library to be official opened tomorrow with support of $3m from the COVID-19 Response and Recovery ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government future-proofs EV charging
    Transport Minister Michael Wood has today launched the first national EV (electric vehicle) charging strategy, Charging Our Future, which includes plans to provide EV charging stations in almost every town in New Zealand. “Our vision is for Aotearoa New Zealand to have world-class EV charging infrastructure that is accessible, affordable, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • World-leading family harm prevention campaign supports young NZers
    Associate Minister for Social Development and Employment Priyanca Radhakrishnan has today launched the Love Better campaign in a world-leading approach to family harm prevention. Love Better will initially support young people through their experience of break-ups, developing positive and life-long attitudes to dealing with hurt. “Over 1,200 young kiwis told ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • First Chief Clinical Advisor welcomed into Coroners Court
    Hon Rino Tirikatene, Minister for Courts, welcomes the Ministry of Justice’s appointment of Dr Garry Clearwater as New Zealand’s first Chief Clinical Advisor working with the Coroners Court. “This appointment is significant for the Coroners Court and New Zealand’s wider coronial system.” Minister Tirikatene said. Through Budget 2022, the Government ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Next steps for affected properties post Cyclone and floods
    The Government via the Cyclone Taskforce is working with local government and insurance companies to build a picture of high-risk areas following Cyclone Gabrielle and January floods. “The Taskforce, led by Sir Brian Roche, has been working with insurance companies to undertake an assessment of high-risk areas so we can ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New appointment to Māori Land Court bench
    E te huia kaimanawa, ko Ngāpuhi e whakahari ana i tau aupikinga ki te tihi o te maunga. Ko te Ao Māori hoki e whakanui ana i a koe te whakaihu waka o te reo Māori i roto i te Ao Ture. (To the prized treasure, it is Ngāpuhi who ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government focus on jobs sees record number of New Zealanders move from Benefits into work
    113,400 exits into work in the year to June 2022 Young people are moving off Benefit faster than after the Global Financial Crisis Two reports released today by the Ministry of Social Development show the Government’s investment in the COVID-19 response helped drive record numbers of people off Benefits and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Vertical farming partnership has upward momentum
    The Government’s priority to keep New Zealand at the cutting edge of food production and lift our sustainability credentials continues by backing the next steps of a hi-tech vertical farming venture that uses up to 95 per cent less water, is climate resilient, and pesticide-free. Agriculture Minister Damien O’Connor visited ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Conference of Pacific Education Ministers – Keynote Address
    E nga mana, e nga iwi, e nga reo, e nga hau e wha, tena koutou, tena koutou, tena koutou kātoa. Warm Pacific greetings to all. It is an honour to host the inaugural Conference of Pacific Education Ministers here in Tāmaki Makaurau. Aotearoa is delighted to be hosting you ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New $13m renal unit supports Taranaki patients
    The new renal unit at Taranaki Base Hospital has been officially opened by the Minister of Health Dr Ayesha Verrall this afternoon. Te Huhi Raupō received around $13 million in government funding as part of Project Maunga Stage 2, the redevelopment of the Taranaki Base Hospital campus. “It’s an honour ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Second Poseidon aircraft on home soil
    Defence Minister Andrew Little has marked the arrival of the country’s second P-8A Poseidon aircraft alongside personnel at the Royal New Zealand Air Force’s Base at Ohakea today. “With two of the four P-8A Poseidons now on home soil this marks another significant milestone in the Government’s historic investment in ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Further humanitarian aid for Türkiye and Syria
    Aotearoa New Zealand will provide further humanitarian support to those seriously affected by last month’s deadly earthquakes in Türkiye and Syria, says Foreign Minister Nanaia Mahuta. “The 6 February earthquakes have had devastating consequences, with almost 18 million people affected. More than 53,000 people have died and tens of thousands more ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Community voice to help shape immigration policy
    Migrant communities across New Zealand are represented in the new Migrant Community Reference Group that will help shape immigration policy going forward, Immigration Minister Michael Wood announced today.  “Since becoming Minister, a reoccurring message I have heard from migrants is the feeling their voice has often been missing around policy ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • State Highway 3 project to deliver safer journeys, better travel connections for Taranaki
    Construction has begun on major works that will deliver significant safety improvements on State Highway 3 from Waitara to Bell Block, Associate Minister of Transport Kiri Allan announced today. “This is an important route for communities, freight and visitors to Taranaki but too many people have lost their lives or ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Ginny Andersen appointed as Minister of Police
    Prime Minister Chris Hipkins has today appointed Ginny Andersen as Minister of Police. “Ginny Andersen has a strong and relevant background in this important portfolio,” Chris Hipkins said. “Ginny Andersen worked for the Police as a non-sworn staff member for around 10 years and has more recently been chair of ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government confirms vital roading reconnections
    Six further bailey bridge sites confirmed Four additional bridge sites under consideration 91 per cent of damaged state highways reopened Recovery Dashboards for impacted regions released The Government has responded quickly to restore lifeline routes after Cyclone Gabrielle and can today confirm that an additional six bailey bridges will ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Foreign Minister Mahuta to meet with China’s new Foreign Minister
    Foreign Minister Nanaia Mahuta departs for China tomorrow, where she will meet with her counterpart, State Councillor and Foreign Minister Qin Gang, in Beijing. This will be the first visit by a New Zealand Minister to China since 2019, and follows the easing of COVID-19 travel restrictions between New Zealand and China. ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Education Ministers from across the Pacific gather in Aotearoa
    Education Ministers from across the Pacific will gather in Tāmaki Makaurau this week to share their collective knowledge and strategic vision, for the benefit of ākonga across the region. New Zealand Education Minister Jan Tinetti will host the inaugural Conference of Pacific Education Ministers (CPEM) for three days from today, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • State Highway 5 reopens between Napier and Taupō following Cyclone Gabrielle
    A vital transport link for communities and local businesses has been restored following Cyclone Gabrielle with the reopening of State Highway 5 (SH5) between Napier and Taupō, Associate Minister of Transport Kiri Allan says. SH5 reopened to all traffic between 7am and 7pm from today, with closure points at SH2 (Kaimata ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Special Lotto draw raises $11.7 million for Cyclone Gabrielle recovery
    Internal Affairs Minister Barbara Edmonds has thanked generous New Zealanders who took part in the special Lotto draw for communities affected by Cyclone Gabrielle. Held on Saturday night, the draw raised $11.7 million with half of all ticket sales going towards recovery efforts. “In a time of need, New Zealanders ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government delivers a $3 million funding boost for Building Financial Capability services
    The Government has announced funding of $3 million for providers to help people, and whānau access community-based Building Financial Capability services. “Demand for Financial Capability Services is growing as people face cost of living pressures. Those pressures are increasing further in areas affected by flooding and Cyclone Gabrielle,” Minister for ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Education New Zealand | Manapou ki te Ao – new Chair and member
    Minister of Education, Hon Jan Tinetti, has announced appointments to the Board of Education New Zealand | Manapou ki te Ao. Tracey Bridges is joining the Board as the new Chair and Dr Therese Arseneau will be a new member. Current members Dr Linda Sissons CNZM and Daniel Wilson have ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Scholarships honouring Ngarimu VC and the 28th (Māori) Battalion announced
    Fifteen ākonga Māori from across Aotearoa have been awarded the prestigious Ngarimu VC and 28th (Māori) Battalion Memorial Scholarships and Awards for 2023, Associate Education Minister and Ngarimu Board Chair, Kelvin Davis announced today.  The recipients include doctoral, masters’ and undergraduate students. Three vocational training students and five wharekura students, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Appointment of Judge of the Court of Appeal and Judge of the High Court
    High Court Judge Jillian Maree Mallon has been appointed a Judge of the Court of Appeal, and District Court Judge Andrew John Becroft QSO has been appointed a Judge of the High Court, Attorney‑General David Parker announced today. Justice Mallon graduated from Otago University in 1988 with an LLB (Hons), and with ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ still well placed to meet global challenges
    The economy has continued to show its resilience despite today’s GDP figures showing a modest decline in the December quarter, leaving the Government well positioned to help New Zealanders face cost of living pressures in a challenging global environment. “The economy had grown strongly in the two quarters before this ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Western Ring Route Complete
    Aucklanders now have more ways to get around as Transport Minister Michael Wood opened the direct State Highway 1 (SH1) to State Highway 18 (SH18) underpass today, marking the completion of the 48-kilometre Western Ring Route (WRR). “The Government is upgrading New Zealand’s transport system to make it safer, more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Briefings to Incoming Ministers
    This section contains briefings received by incoming ministers following changes to Cabinet in January. Some information may have been withheld in accordance with the Official Information Act 1982. Where information has been withheld that is indicated within the document. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Teaming up for a stronger, more resilient Fiji
    Aotearoa New Zealand Foreign Affairs Minister Nanaia Mahuta reaffirmed her commitment to working together with the new Government of Fiji on issues of shared importance, including on the prioritisation of climate change and sustainability, at a meeting today, in Nadi. Fiji and Aotearoa New Zealand’s close relationship is underpinned by the Duavata ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Investment in blue highway a lifeline for regional economies and cyclone recovery
    The Government is delivering a coastal shipping lifeline for businesses, residents and the primary sector in the cyclone-stricken regions of Hawkes Bay and Tairāwhiti, Regional Development Minister Kiri Allan announced today. The Rangitata vessel has been chartered for an emergency coastal shipping route between Gisborne and Napier, with potential for ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Next steps developing clean energy for NZ
    The Government will progress to the next stage of the NZ Battery Project, looking at the viability of pumped hydro as well as an alternative, multi-technology approach as part of the Government’s long term-plan to build a resilient, affordable, secure and decarbonised energy system in New Zealand, Energy and Resources ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2023-03-26T02:30:51+00:00