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The next financial crisis

Written By: - Date published: 8:15 am, September 11th, 2010 - 40 comments
Categories: capitalism, Economy, International - Tags: ,

If you have some time to spare this Saturday morning, check out the documentary “Overdose”. Here’s a description:

Overdose

This is the story of the greatest financial crisis we will ever see… The one that is on the way.

Have you maxed out your credit card? Bought shares with borrowed money? Taken out a large home loan believing that prices always go up? Then you may be living on borrowed time. Filmmaker Martin Borgs takes a provocative look at the events leading up the Global Financial Crisis and asks if the attempts to avoid a ruinous collapse of banks and other major finance houses may set the world on the path to an even bigger meltdown.

When the world’s financial bubble blew, the solution was to lower interest rates and pump trillions of dollars into the sick banking system. On the face of it this seemed the only way to deal with impending disaster, but was it?

“The solution is the problem, that’s why we had a problem in the first place,” Economics Nobel laureate Vernon Smith says. For him, the Catch 22 is self-evident. Interest rates have been at rock bottom for years, and governments are running out of fuel to feed the economy. He asks:

“The governments can save the banks, but who can save the governments?”

I found it irritating in some respects, but also a useful overview of what many of us expect is likely to happen next. You can view the video (in three parts) at the link above, or they may be below (odd things seem to be happening to video embedding just now):


40 comments on “The next financial crisis”

  1. RedLogix 1

    Thanks for posting these Rob. Nobel laureates like Vernon Smith are all very well pontificating in hindsight, but an entire class of conventional thinking economists totally failed to predict the GFC.

    Failure to predict is a basic failure of a science. On that basis almost the entire profession should be sacked as incompetent.

    By contrast a small group of non-conventional economists, Steven Keen being my long time favourite, did predict the GFC… formally and in considerable detail. Of course as the global warming debacle has taught us, correct science, correct modelling and correct predictions mean nothing when up against powerful vested interests with vast sums of money to spend protecting their privileges.

    • nzfp 1.1

      Hey RL

      “By contrast a small group of non-conventional economists, Steven Keen being my long time favourite, did predict the GFC”

      Keen most certainly did – he’s one of my favourite too. Not only did Keen predict it but he won an award recognising that he was the earliest and most accurate economist to predict the GFC. See the details of his award here. Keen shares great compnay as 2nd and 3rd place finishers include Nouriel Roubini (New York University) and Dean Baker (Center for Economic and Policy Research).

      • ZB 1.1.1

        Nonsense. The whole point of universities is to have alternative views ready when the main branch of the subject falls flat on its face. There was always going to be a Keen waiting in the wings. Hell we even have a ‘waiting in the wings’.

        The simple fact is economics is not a science when its purely a theoretical practice, and when its practical engineering implementation it suffers from being too close to the big money.

        Only in economics can an economist implement their bridge by building from the mid point of the gorge out,
        with enough money and their fad theory being all the rage in the market at the time.

        Physically, you remember how we’re fixed to reality, specifies that energy is conserved. That not only are oil stocks limited, but that the quality of the oil wells are nonuniform, some costing more to get at, some of lower quality.
        But all crude oil is a high density energy source, and basic physics tells us that if horsepower and coal ran the
        pre-automobile era, then alternatives, coal and nuclear will run the post-petrol era.

        So its fairly safe to estimate the size of the economy and the amount of growth possible. And
        easy to do a wavey hand estimation of the effect of peak oil, that is if the economy was boosted
        by increasing cheap oil due to new oil wells and better techniques to get more oil out of
        existing oil wells, then its fair to say the economy needs a new driver or the ability of
        the global economy to expand into new oil driven territory is denied it.

        So here’s the rub, the massive uptake in projected value, money, in the global economy
        is never going to be realized. Economies around the world are filled with people who
        can see this, and will do everything to minimise the harm to themselves whilst waiting
        for the money to either vanish back from whence it came, inflate itself to manageable
        size, or crash into a hyperinflationary hell.

        Personally giving the dithering of western governments to take the rich back to
        some nominal level, I believe we’re heading for hell. And I welcome it, its
        about time we cleaned out the elites who really have nothing to do with the
        future and everything to do with our past mistakes.

        • nzfp 1.1.1.1

          Hey ZB

          “The simple fact is economics is not a science when its purely a theoretical practice”

          well remember that Scientific theory follows two models – theories based on observable and historical facts as well as on reproduceable experiments with predictable outcomes.

          In the case of economics we have thousands of years of empirical researchable data. There is a very good book on the subject of monetary policy and its effects on nations politics and economics from the ancient Greeks, Romans and Chinese, through the Venetian, Dutch (Bank of Amsterdam) and British (Bank of England) empires to the American colonies right up to the modern US and EU monetary and economic structures.

          I recommend you find and read Stephen Zarlenga’s book “The Lost Science of Money” of the American Monetary Institute. I have and I certainly recommend it to anybody. The point of the book is that the GFC is completely predictable. The events leading to as well as the results of the current GFC were predicted centuries ago by economists such as David Ricardo and Alexander Del Mar – and many many others – based on their study of the empirical historical facts of monetary history as far back as 300 BC.

          The data is there, it has been analysed by many economists including Zarlenga.

          • Loota 1.1.1.1.1

            Anytime people want to make huge bucks in a short amount of time without generating commensurate productive, economic and social value you get the conditions for a massive financial crisis. So yeah, that should’ve been pretty predictable and why were those in charge looking so surprised when it started all coming down?

            • nzfp 1.1.1.1.1.1

              Hey Loota

              “why were those in charge looking so surprised when it started all coming down?”

              Hah hah hah that’s easy – cos they didn’t get out with the loot before it happened on their watch 😉

          • ZB 1.1.1.1.2

            “”Scientific theory follows two models – theories based on observable and historical facts as well as on reproduceable experiments with predictable outcomes.””

            Tosh.

            Economics, historical based, has yet to capture the full picture of an economy at any instant of time.
            Economics is a cult, designed to suit the current necessity.
            After the 70s oil crisis, the world was flushed with cheap middle east oil and year on year
            new oil finds across the globe. The world western economies expanded their economies
            by loosening financial regulation, rather than pick winners and direct the economy to get
            us to mars, or build broadband, or build sustainable economies.

            Patterns will always be found in human activities, but those patterns owe more to
            the underlying reality of energy, industrial production techniques, than psuedo
            economic laws. Therein lies the bait and switch, economics are like mathematians
            who dodgely track physicists and engineers so they can write abstract mathematical
            contortions. But nobody actually has found zero, or one, or pie. Its just another
            preisthood. Now personally Engineers I put my life in their hands, Physics I bet on,
            and Mathematics I absorb while I sit on the bog using Economics as toilet paper.

          • Herodotus 1.1.1.1.3

            Is this only available from the interne?.
            Search re Borders , Whitcouls was not successful. Perhaps you could point myself to where in JAFAland this could be sourced from as from link below it was sold out. Some out here must follow your recommendations 😉
            http://shopping.nzherald.co.nz/the-lost-science-of-money.aspx?prod=cl5DboacXWs%3D
            I found this on history channel very interesting, should my tatses be worth anything.
            http://www.niallferguson.com/site/FERG/Templates/General.aspx?pageid=194

            • nzfp 1.1.1.1.3.1

              Hey Herodotus,
              I had whitcouls order it in for me, it didn’t cost $199.07 though – but it was still pricey for me, from whitcouls at $165. However it is printed on 300 year paper. The author had the misfortune of books crumbling in his hands (Alexander Del Mar) while researching the content, so in order to preserve the concepts developed by the many political economists he quoted he had the book printed on 300 year paper.

              I’ve attempted to get my public library to order a copy. They didn’t have the budget when I last tried so I’ll try again. I may donate my copy when I’ve finished with it although it is a great book to go back to for references.

              You can sometimes get it from fishpond HERE.

              The Ascent of Money by Scottish historian Niall Ferguson looks interesting. I’ve seen it at Borders and it’s on my “to read” list. However Ferguson does seem to have close ties to “Big Money” as he has done biographies of the Rothchildes and Goldman Sachs.

        • RedLogix 1.1.1.2

          Nonsense. The whole point of universities is to have alternative views ready when the main branch of the subject falls flat on its face. There was always going to be a Keen waiting in the wings. Hell we even have a ‘waiting in the wings’.

          OK so by your own admission the main branch of economics has ‘fallen flat on it’s face’. Rather than airily dismissing Keen as just ‘someone waiting in the wings’… how about giving the man credit for being correct, learning why he is correct and advocating for the changes needed.

          Keen was not just right because of ideological punditry or hand-waving attention seeking. He got it right on rigorous theoretical grounds that he has documented in numerous papers for almost a decade now. Papers based on sound dymanic mathematics and proper accounting of money flows.

          But allow me to indulge in a relatively long quote from one of his recent essays.

          That sucking sound will continue for many years, because the level of debt that was racked up under Bernanke’s watch, and that of his predecessor Alan Greenspan, was truly enormous. In the years from 1987, when Greenspan first rescued the financial system from its own follies, till 2009 when the US hit Peak Debt, the US private sector added $34 trillion in debt. Over the same period, the USA’s nominal GDP grew by a mere $9 trillion.

          Ignoring this growth in debt—championing it even in the belief that the financial sector was being clever when in fact it was running a disguised Ponzi Scheme—was the greatest failing of the Federal Reserve and its many counterparts around the world.

          Though this might beggar belief, there is nothing sinister in Bernanke’s failure to realize this: it’s a failing that he shares in common with the vast majority of economists. His problem is the theory he learnt in high school and university that he thought was simply “economics”—as if it was the only way one could think about how the economy operated. In reality, it was “Neoclassical economics”, which is just one of the many schools of thought within economics. In the same way that Christianity is not the only religion in the world, there are other schools of thought in economics. And just as different religions have different beliefs, so too do schools of thought within economics—only economists tend to call their beliefs “assumptions” because this sounds more scientific than “beliefs”.

          Let’s call a spade a spade: two of the key beliefs of the Neoclassical school of thought are now coming to haunt Bernanke—because they are false. These are that the economy is (almost) always in equilibrium, and that private debt doesn’t matter.

          One of Bernanke’s predecessors who also once believed these two things was Irving Fisher, and just like Bernanke, he was originally utterly flummoxed when the US economy collapsed from prosperity to Depression back in 1930. But ultimately he came around to a different way of thinking that he christened “The Debt Deflation Theory of Great Depressions” (Fisher 1933).

          You would think Bernanke, as the alleged expert on the Great Depression—after all, that’s one of the main reasons he got the job as Chairman of the Federal Reserve—had read Fisher’s papers. And you’d be right. But the problem is that he didn’t understand them—and here we come back to the belief problem. The Great Depression forced Fisher—who was also a Neoclassical economist—to realize that the belief that the economy was always in equilibrium was false. When Bernanke read Fisher, he completely failed to grasp this point. Just as a religious scholar from, for example, the Hindu tradition might completely miss the key points in the Christian Bible, Bernanke didn’t even register how important abandoning the belief in equilibrium was to Fisher.

          In other words neo-classical economics is a flawed belief system that has failed the people of the world repeatedly. The only real beneficiaries have been a tiny elite of uber-wealthy … a few thouands of individuals who now control over 50% of the world’s wealth.

          • ZB 1.1.1.2.1

            Keens wasn’t listen too at the time, so it pretty much picking winners to me. Because
            every year there are economists writing shit that never happens – some are eventually
            to be found half and half right. Marx perdicted capitalist would get too greedy,
            its hardly controversial to rehash in ‘new terms’ an old master.

            • RedLogix 1.1.1.2.1.1

              Keens wasn’t listen too at the time, so it pretty much picking winners to me.

              Another one from the ‘no-one knows anything anymore, so who cares?’ school of thought.

              That’s fine, no-one has to pretend to be all-knowing, but on the other hand don’t expect anyone here to be impressed by tired cynicism posing as worldliness.

            • nzfp 1.1.1.2.1.2

              Hey ZB,
              Don’t be soo cynical, I’ve listened to Steve Keen, looks like RL has too. You should take a few minutes and listen to him too. He has a great seven part podcast called “The Debtwatch Report with Steve Keen”. He is also frequently interviewed on “The Renegade Economists” radioshow and podcast wth a noteable interview titled “Debt Saturation” where he freely admits he doesn’t agree with everything the Georgists (named after political economist Henry George) follow and gives fair reason why.

              Have a listen to his podcast – maybe start with the interview I’ve linked to above. The point is you have options, you can learn about them and make your representative aware of them too.

          • Loota 1.1.1.2.2

            And who created the debt in order to create the cash to slosh around? The banks/financial sector of course. You create a trillion new dollars in debt, that’s an extra trillion dollars you have sloshing around to be hoovered up by people in the know, but now the people/companies/govts who are in debt need to pay that debt back plus interest.

            And where is the money going to come from to do that?

            Why with more debt of course.

  2. Mr Magoo 2

    I very good documentary but it completely missed one point: What exactly are they proposing is the solution?

    I mean he ends by saying “we can do it”, but they never once mention what “it” is. And as is typical in the US spectrum it quite often means “good for the US” at the expense of others.

  3. happynz 3

    “Have you maxed out your credit card?”
    No, I haven’t. I’m actually a whole NZ$1.51 in credit!
    “Bought shares with borrowed money?”
    Nope, can’t say that I have.
    “Taken out a large home loan believing that prices always go up?”
    Yet again, no.
    “Then you may be living on borrowed time.”
    Oh great. Live modestly and end up with nothing. Live large and have the pleasure of having had a hell of a ride and end up with nothing. I guess the saving grace for me is when the collapse comes the fall to the bottom won’t feel so truamatic.

    • ZB 3.1

      The tramua of discovering that their ability to make money was all a big fad.

      The success stories are those who didn’t believe the hype. Who borrowed
      and brought homes, then sold them to buy more homes, and then got
      out at the top of the market – paying back all the borrowed money. And
      then brought into companies and homes that are good prospects in
      the new thrift economy.

      The sad stories are the young people who could buy a house, get drunk,
      drive noisy cars and basically lose their best economic years. Y-gen
      whose parents lost their homes to the rightwing fraud years.

  4. Loota 4

    I found it irritating in some respects,

    Interesting, like what?

  5. Draco T Bastard 5

    Bubbles and financial crises are the natural effect of treating money as a resource.

    • Loota 5.1

      Hmmmmm…actual money is a resource though, isn’t it? In that it is supposed to help represent or unlock human time and energy. Financial derivatives of money and the creation of money not backed by actual productivity from human time and energy…that’s where it starts becoming unstuck.

      • nzfp 5.1.1

        Well money should not be treated like a commodity, as soon as it becomes a commodity it takes on properties which allow it to be traded in speculative financial markets and consequently cornered – c.f. gold, silver, oil.

        Instead it should be a measure of accounting for facilitating the trade of goods and services without easily comparable value. This definition of money is the basis for the 700 year long tally stick currency used in England before the Bank of England as well as throughout the roman empire where money was defiined by stamp and not weight – where leather straps stamped with a roman seal by fiat were successfully used as currency (such as paper money) instead of gold by weight (commodity). It was when gold (commodity) by weight – ponderata – endorsed by Adam Smith by the way – was used as currency that the Roman Empire went into decline. It’s all in Stephen Zarlenga’s book “The Lost Science of Money”

      • Draco T Bastard 5.1.2

        Well, put it this way. When the Chch earthquake happened the bill was estimated as $2b then it jumped to $4b and we were assured by Jonkey that we had the money but what no one has asked yet is are the resources actually available to rebuild Chch? Not a single person in government or the MSM it’s merely assumed that, because we have the money, then we have the resources but there’s no guarantee of the latter. In fact, I’d won’t be surprised if that $4b estimate climbs to $8b. Russia, in a similar situation due to the heatwave, stopped exports of grain but we haven’t stopped exports of construction materials such as raw timber going to China and there’s no indication that their demand will decrease.

        Another example is the mining the Gerry “Sexy Coal” Brownlee wants. Dig up the minerals, sell them to someone else and then we’ll be rich and be able to do any thing we want except for the minor technicality that we won’t have any resources to do anything with.

        This is what I mean by “treating money as a resource” and when it gets to that point, as our government, and probably most of society, has then what happens is that we start accumulating money and finding interesting ways to turn money into more money (otherwise known as the financialisation of the economy) rather than watching what we’re doing with our real resources. And then, of course,we end up money rich, resource poor and unable to support a high-tech, high standard of living society.

        • nzfp 5.1.2.1

          Hey DTB,
          “we end up money rich, resource poor and unable to support a high-tech” maybe or maybe that is the result of applying the principles of the debt based society we currently live in with the historical observable outcome being what you stated.

          However we – including you in previous posts – are advocating for an economy based on public credit. I’m willing to bet a billion (nah scratch that five billion, no ten billion) new RBNZ interest free dollars on developing new energy systems, chemical science and building materials that we can use to overcome those obstacles.

          Especially if the money we create as pure credit (no debt) for our government is put to use developing the infrastructure we need – even if developing that infrastructure requires first principles converting our renuable resources into the materials we need to build our society.

          We could have a scientific boom creating technologies that we could give/sell around the world. Free energy, renewable resources, socially and environmentally sustainable and responsible. It’s cheap and easy to do as long as we are not in debt to a bankrupt foreign private (City of London and Wall Street) banking cartel. Makes for an exciting and inspiring future for our mokopuna.

  6. nzfp 6

    Hey Mr Magoo,
    There have been a few good solutions proposed.

    One solution can be viewed in the great British monetary documentary “Why are we all in debt” by Tarek El Diwany. El Diwany proposes a solution based on Islamic banking principles.

    Another great documentary by author and former federal government analyst “Richard C. Cook” titled “Credit as a Public Utility: The Solution to the Economic Crisis” proposes a similar solution to the Islamic banking model which also defines money as a public instead of private utility. Cooks solution draws heavily on banking proposals endorsed by Milton Friedman (before he founded monetarism) and also draws on concepts developed by Major Clifford H. Douglas the founder of Social Credit.

    • RedLogix 6.1

      It’s worth noting that when you examine all of the actual teachings of the great religions, in the words of their founders, that in general they have remarkably little to say about how man should order his economic affairs. With one exception.

      They all either prohibit or place strict limits on the practise of usury.

      • nzfp 6.1.1

        Yeah it’s crazy isn’t it – ALL of the religions proscribe against it. The documentary “Why are we all in Debt” about Islamic banking also includes Christian and other religous writings against Usury. The Catholics had an institution called the scholastics who had a very solid understanding of economic theory. The scholastics influence on Catholic society kept usury out of christian culture up unti it (usury) was endorsed by Jean Calvin (Calvinism) and Martin Luther during the reformation…

        • Vicky32 6.1.1.1

          “The scholastics influence on Catholic society kept usury out of christian culture up unti it (usury) was endorsed by Jean Calvin (Calvinism) and Martin Luther during the reformation…”
          Interesting news, nzfp…. Score 1 for Catholics… 😀
          Deb

    • Loota 6.2

      Just watched the first 4 parts of “Credit as a Public Utility”.

      Excellent, thanks for the link.

      • nzfp 6.2.1

        My pleasure – make sure you share it around – buy his book too or even better get the public library in your area to buy it 😉

  7. RedLogix 7

    The fundamental challenge is not that we do not know the solution to the problem, but that we are unable to implement any alternatives to the status quo….because vested interests will prevent us from doing so.

    Lets be real for a moment. The world is essentially being held hostage by the US Federal govt, which in turn is the captive, for all important purposes, of major corporate and financial interests… who have become more powerful than any single sovereign government.

    Breaking this death-grip is not easy. No single government can afford to confront them directly because they simply transfer their point of vulnerability to another less pesky nation.

    • nzfp 7.1

      “No single government can afford to confront them directly” … and maybe no single government will.

      FT Aug 26, 2010 “Banks back switch to renminbi for trade”

      PTI Aug 14, 2010 “Will retaliate if offended by US, warns China Gen”

      SA Feb 18, 2008 “Iranian Oil Bourse Starts Trading, Sans Dollar Contracts”

      There’s a lot more like this out there …

      Bear in mind that the more NZ’rs that are aware of concrete solutions means more grass roots pressure on new canditates to implement them.

      • Loota 7.1.1

        Quite right. The people must force their politicians to do the right thing.

        An aware, educated, active citizenry.

      • Draco T Bastard 7.1.2

        If the world had responded correctly in 1971 when he US unilaterally dropped the Bretton Woods agreement and floated the US$ then the US would not have continued as the reserve currency and US power would have waned. Unfortunately the US managed to get the US$ set as the default currency to buy oil which maintained the strength of the US$. This is slowly changing as the US prints money to inflate away it’s debt. Sooner or later countries are going to realise that they can’t buy anything with US$ and, more importantly, some countries are going to realise that they actually want to keep their oil and won’t sell it at any price. When those two reach some sort of critical mass you’ll see the collapse of the US as a viable state.

  8. RedLogix 8

    Nothing new to you nzfp, but fun all the same:

    • nzfp 8.1

      Yeah it’s always an eye opener watching/listening to Tarpley. What a day it is for the USA to be watching a Russian news channel to get intelligent political commentary about the US.

  9. jcuknz 9

    Anybody remembering that today is the nineth anniversary of an event in New York?

  10. Kleefer 10

    While a handful of economists and economic commentators did predict the financial crisis, most of them only predicted it a year or two beforehand and gave the wrong reasons for it happening. Steve Keen, for example, made his prediction using the theories of Hyman Minsky, who suggested that capitalism is inherently unstable (which it isn’t).

    Only economists trained in the Austrian school of economic thought consistently predicted the financial crisis and not just a year or two beforehand but back in 2001 when Alan Greenspan made the decision that caused the financial crisis, his lowering of interest rates down to record levels. The Austrians have identified artificially low interest rates and their market-distorting effects as being responsible for the boom and bust cycle but idiotic politicians and central bankers treat them as the cure for our economic ills.

    And RedLogix, I can’t let your comments on “usury” go unchallenged. Religious restrictions on “usury” (the charging of interest) held economic development back by centuries by retarding capital formation. However, a loophole in the rules meant that Christians couldn’t charge each other interest but Jews could charge Christians and vice versa.

    This loophole is why the Jews got their centuries-old reputation as money lenders and it allowed the savings and capital investment that brought us out of the middle ages and into the industrial revolution. Islamic finance is a huge con job; Islamic countries have ridden on the coat-tails of wealthy Western nations and rely on oil money for prosperity.

    Only someone with a previously uncharted depth of economic ignorance would attribute the world’s economic problems to the charging of interest. As the Austrians have identified, it is actually the manipulation of interest rates by government entities in collusion with large financial institutions that causes the damage and it’s the boom, rather than the bust, when the real harm is done.

    • ZBB 10.1

      So the only good economist to quote is a long dead one?

      What’s the branch of economics that uses fundamentals like energy in to predict markets?
      I mean if the US oil production hit peak in the 70s, bring about the oil crisis.
      Then the Middle East oil production hit peak about 2002, with the invasion of Iraq.
      Basically if it takes energy to move frieght around, and if the fuel is less energy
      dense and harder to get out then the size of the economy will be proportional
      to the amount and cost of the raw energy flowing into it.

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    2 days ago
  • Lock Down: Day 1
    . . Lock Down: Day 1 – A photo essay with observations . Day one of the Level 4 nationwide lock-down (or, DefCon 4 as I sometimes cheekily call it) started at 11.59PM on 25 March. For a moment, most of the nation held it’s collective breath. In that brief ...
    Frankly SpeakingBy Frank Macskasy
    2 days ago
  • A Compelling Recollection.
    Broad, Sunlit Uplands: How those words fired my young imagination! Or, perhaps, it is more accurate to say: how those words fused, in my young mind, with the image printed on every packet of Fielder’s Cornflour. Always fascinated by history, especially modern history, I cannot hear Churchill’s wonderfully evocative words, even ...
    3 days ago
  • The Warehouse – where everyone gets a virus
    . . 24 March 2020 9.46AM Number of covid19 cases in Aotearoa New Zealand: 102 . As of 11.59 on Thursday, most of New Zealand will go into “lock down”. People will be expected not to travel to work; not to socialise; and to stay home. I will not be ...
    Frankly SpeakingBy Frank Macskasy
    3 days ago
  • After the Pandemic
    It will pass. What happens next? Not immediately, but longer term. There are many opinions, fewer certainties. Will it “change everything!” as many confidently, and contradictorily predict? In this post I look at how foresight can help bound some of the uncertainties so you can more objectively consider the future. ...
    SciBlogsBy Robert Hickson
    3 days ago
  • Coronavirus – Cuba shows the way
    We’ve been meaning t write something on Cuba and the coronavirus but have just discovered a very good article on the subject in the US left publication Jacobin.  The article looks at how Cuba, a poor country but one where capitalism has been done away with, is leading the way ...
    RedlineBy Admin
    3 days ago
  • Using privacy law to prevent the death penalty
    In 2018, El Shafee Elsheikh and Alexanda Kotey - two British citizens who had purportedly been stripped of their citizenship by the British government - were captured while fighting for Isis in Syria. The British government then conspired to hand them over to the US, and agreed to provide evidence ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • It’s Time For Disaster Socialism.
    Transformers: The disaster of the Great Depression was transformed into a new and fairer society by the democratic socialism of the First Labour Government. The disaster of the Covid-19 Pandemic offers a similar transformative possibility to the Labour-NZ First-Green Government. Seize the time, Jacinda! You will never have a better ...
    4 days ago
  • Skeptical Science New Research for Week #12, 2020
    Tamper with The System? Well, we already are. But there's a difference between accidentally trickling sand into a precision gearbox versus formulating a plan to alter it on the fly with improvements in mind. One action is more or less innocently unscrupulous, the other amenable to earning an easy ...
    4 days ago
  • Avoidable hospitalisations: Helping our health system get through COVID-19
    Associate Prof George Thomson, Louise Delany, Prof Nick Wilson While it is possible that New Zealand can use intense public health controls to eradicate COVID-19 from the country – we must also plan for other scenarios where thousands of New Zealanders are sick – including many urgently hospitalised.1 Better resilience ...
    SciBlogsBy Public Health Expert
    4 days ago
  • Raise the Bar: 10 questions to ask your employer proposing redundancy
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or being ...
    PosseBy chloeanneking
    4 days ago
  • An equitable way to support business
    The Herald reports that the government is planning to lend billions of dollars to large businesses to keep them operating during the pandemic. As with mortgage relief, this is necessary: we need companies to stay in business, to reduce the economic damage and help things get restarted again when this ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Hard News: Together Alone
    We're about to do something unprecedented as a nation. We hope that by taking this extraordinary action before a single life in New Zealand has been lost to the deadly novel virus we will save tens of thousands of lives. Our  lives. We'll do it together, in households, in isolation ...
    5 days ago
  • Why timing is everything: ‘A time to refrain from embracing’ starts today
    “There is a time for everything,    and a season for every activity under the heavens.”So writes the author of Ecclesiastes, a book in the Old Testament that’s counted as a ‘wisdom’ book and written as if by an unnamed king of Jerusalem. But who would have thought there would be a time ...
    PunditBy Tim Watkin
    5 days ago
  • Dealing with the Covid-19 Tsunami.
    I was surprised when the prime minister described the Economic Response to Covid-19 package as the ‘largest peacetime government spend in New Zealand's history’. Reflecting – checking through history – I realised that the term ‘spend’ was crucial and the package had no income tax cuts. Even so, it has ...
    PunditBy Brian Easton
    5 days ago
  • What about renters?
    The government today announced the latest part of its pandemic relief package: a six-month mortgage holiday for people whose incomes have been affected by the pandemic. Which is great, because these people are going to need help, and that's what the government should be doing. At the same time, it ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Living within our means.
    Years ago the Argentine sociologist Carlos Weisman wrote a book titled “Living within our Means.” It was a critique of Argentine society that focused on the paradoxical question of why, in a land of plenty, there was so much economic instability, inequality, corruption and political turmoil. His conclusion was basically ...
    KiwipoliticoBy Pablo
    5 days ago
  • Transparency and the pandemic
    Parliament will be leading by example and adjourning tomorrow after a special sitting to consider an epidemic notice and state of emergency. Day-to-day oversight of the government will be delegated to a select committee. But that's not the only overight mechanism. The OIA will still be law, and (so far) ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • ‘Overjoyed’: a leading health expert on New Zealand’s coronavirus shutdown, and the challengin...
    Michael Baker, University of Otago Overjoyed. That’s not a word epidemiologists normally use, but that’s how I felt after hearing Prime Minister Jacinda Ardern’s announcement about New Zealand’s COVID-19 shutdown of everything except essential services for at least four weeks from midnight on Wednesday. More than anything, I just ...
    SciBlogsBy Public Health Expert
    5 days ago
  • One way to solve the housing crisis
    How much homelessness is caused by house hoarding? We're about to find out. The pandemic has destroyed tourism, which means that house hoarders who put their hoarded properties up as short-term tourist rentals are now offering them on the ordinary rental market:Property investors are pulling properties from Airbnb to offer ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • The pros and cons of planting trees to address global warming
    This is a re-post from Yale Climate Connections by Bruce Lieberman It seems like such a simple, straightforward, empowering idea: plant trees – a lot of trees – all over the world, and watch the planet’s temperature fall. Who doesn’t love a tree or two, even far more – the right ...
    6 days ago
  • Not a grand coalition, but a government of national salvation
    According to Newshub, Simon Bridges is open to joining a “grand coalition” with Labour as we hunker down to go into a month long lockdown. The idea is sound. Before now, the role of the opposition was to scrutinise and oppose. In the context of what almost amounts to a ...
    PunditBy Liam Hehir
    6 days ago
  • Raise the Bar: hospitality workers & wage subsidy entitlements
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or ...
    PosseBy chloeanneking
    6 days ago
  • Lifting our game against COVID-19
    We need to be lifting our game against COVID-19. You and I need to help those working to prevent the spread of COVID-19 while they’re trying to lift the testing and treatment efforts. We don’t want to be playing this game running backwards. Best to play it solidly forward, from ...
    SciBlogsBy Grant Jacobs
    6 days ago
  • The maths and ethics of minimising COVID-19 deaths in NZ
    Prof Tony Blakely, Prof Michael Baker, and Prof Nick Wilson The NZ Government must do more to clearly articulate its COVID-19 strategy: eradication or ‘flattening the curve’ mitigation. But to do so means understanding the maths and ethics of both these strategies. In this blog, we adapt our work for ...
    SciBlogsBy Public Health Expert
    6 days ago
  • All aboard the Covid Train
    A few days ago I was starting to write something about the pandemic, which now seems unconscionable. It took the form of a letter to an agony aunt:“Dear Deidre, I have an ugly confession. I am quite excited by Covid-19.”This is how the piece went:“I’m not a psychopath, honest. Although the ...
    PunditBy Phil Vine
    6 days ago
  • 2020 SkS Weekly Climate Change & Global Warming Digest #12
    Story of the Week... Toon of the Week... Climate Feedback Article Review... Coming Soon on SkS... Climate Feedback Claim Reviews... SkS Week in Review... Poster of the Week... Story of the Week... In Just 10 Years, Warming Has Increased the Odds of Disasters The likelihood of extreme events ...
    6 days ago
  • We are all socialists now
    Last week, the government announced a $12 billion initial package to support people during the pandemic. Today, the Reserve Bank is buying government bonds - effectively printing money - to keep up the money supply during the crisis. Normally such moves would have the right apoplectic. Instead, the National Party ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • A plea to experts: safeguard your role in public life
    I am a pundit, somebody who opines and comments on the news. There are no real qualifications to punditry though having a rudimentary way with words and good general knowledge helps. That is one reason there is a constant oversupply of would-be pundits and why it is quite hard to ...
    PunditBy Liam Hehir
    1 week ago
  • Enlightenment when?
    I recently encountered the following prescription from a Faculty of Education at a leading New Zealand University. At first I wondered if it was another product of the postmodern generator (http://www.elsewhere.org/journal/pomo/), designed to create gibberish in the postmodern form, but I’m told it is real: The “schooled” society: Towards the ...
    SciBlogsBy Michael Corballis
    1 week ago
  • What the Crisis Can teach Us
    The coronavirus pandemic has of course had a major impact on individual lives and on societies as a whole. But, long after the crisis has passed (assuming it does), we will begin to realise that its real and lasting significance lies in the lessons it has taught us, if only ...
    Bryan GouldBy Bryan Gould
    1 week ago
  • Hammering home measures to stop COVID-19
    COVID-19 has plunged Aotearoa New Zealand (indeed, the world) into territory that, while maybe not totally unprecedented, certainly hasn’t been seen during the lifetimes of most of us here today. Our borders are closed to non-citizens, we’re being told not to gather in groups of more than 500 outside/100 inside, ...
    PunditBy Andrew Geddis
    1 week ago
  • What does ‘level two’ mean – and why does it matter?
    For the last few weeks, I’ve been urging you to prepare yourself, your family, business, and community for Covid-19. Now it’s time for real action.  Yesterday the director-general of health Dr Ashley Bloomfield announced another 13 confirmed cases of Covid-19 in New Zealand, bringing our total to date to 52. ...
    SciBlogsBy Siouxsie Wiles
    1 week ago
  • 2020 SkS Weekly Climate Change & Global Warming News Roundup #12
    A chronological listing of news articles linked to on the Skeptical Science Facebook Page during the past week, i.e., Sun, Mar 15, 2020 through Sat, Mar 21, 2020 Editor's Pick Now Isn’t the Time to Forget About Our Climate Change Efforts   Tasha Tilberg, Lindsey Wixson, and Liu Wen photographed ...
    1 week ago
  • Is the Guardian becoming  a real newspaper again?
    by Jan Rivers The article has been corrected to show that it was Ewen MacAskill, former Guardian journalist and not Luke Harding who travelled to meet Edward Snowden with journalist Glenn Greenwald and filmmaker Laura Poitras.  Some of the Guardian’s well-known journalists who did not sign the protest letter are ...
    RedlineBy Daphna
    1 week ago
  • Life asserts itself regardless
    by Cultural Worker Late March 2020 amidst the virus. With gigs crashing and burning all around it was without much hope that I called a long standing rest home booking: “ Hi, I’m supposed to be entertaining at your place this afternoon – is it still on?” “”If you don’t ...
    RedlineBy Daphna
    1 week ago
  • Politics, the possible, and the pandemic
    Whenever people demand real change from their politicians, we're told that "politics is the art of the possible". The implication is that change isn't possible, so we'd better just get used to the sucky status quo. But now that there's a pandemic, a lot of things we were previously told ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The Only Way Through This Crisis Is Together.
    Together: In leading New Zealand through the Covid-19 Pandemic, the Prime Minister could do a lot worse than allow herself to be guided by the spirit of collective sacrifice and co-operation that animated the New Zealanders of 80 years ago. Most Kiwis alive today have had no opportunity to prove their ...
    1 week ago
  • GFC vs Covid-19
    It is said that generals fight the last war. In the case of the early stages of the Global Financial Crisis (GFC) they had learned from the Great Depression of the 1930s and they fought intelligently and successfully. Later their advice would be ignored in favour of the Austerians who ...
    PunditBy Brian Easton
    1 week ago
  • Nobody Left Behind.
    Solidarity Forever: All over the world, the arrival of the Covid-19 virus has exposed the fragility of the walls we erect around ourselves and our loved ones. It has shattered our illusions of autonomy and revealed to us how utterly dependent we all are on other human-beings. Finally, we see ...
    1 week ago
  • Rebuilding a truly “Democratic” counter, or a “moderate Republican” bolt-hol...
    Looking across the various arguments for/against the leading candidates to take the Democratic Nomination, you might honestly be very hard pressed to tell. There are a number of things that have now started happening since Amy Klobuchar and “Mayor Pete” Buttigieg both threw the towel in and immediately (and ...
    exhALANtBy exhalantblog
    1 week ago
  • Abortion law reform a win for women
    by Daphna Whitmore Abortion is no longer in the Crimes Act in New Zealand. The law reform passed yesterday and now abortion is a medical matter between a woman and her doctor. Many women’s groups and progressive people have campaigned for reform for decades. The women’s liberation movement and some ...
    RedlineBy Daphna
    1 week ago
  • How to spot bogus science stories and read the news like a scientist
    Doug Specht, University of Westminster and Julio Gimenez, University of Westminster When fake news, misreporting and alternative facts are everywhere, reading the news can be a challenge. Not only is there plenty of misinformation about the coronavirus pandemic, climate change and other scientific topics floating around social media, you also ...
    SciBlogsBy Guest Author
    1 week ago
  • Why New Zealand needs to continue decisive action to contain coronavirus
    Michael Baker, University of Otago and Nick Wilson, University of Otago With some of the toughest border restrictions and a newly-announced NZ$500 million boost to health services, New Zealand is among a small number of countries with a strategy to contain the COVID-19 pandemic. New Zealand is also fortunate in ...
    SciBlogsBy Public Health Expert
    1 week ago
  • Parliament and the pandemic II
    As expected, the government has introduced a sessional order to allow Parliament to operate during the pandemic. You can read it on the Order Paper here, but the short version is that questions and motions can be filed electronicly, select committees can work remotely, and the the Business Committee can ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • When a virus goes viral: pros and cons to the coronavirus spread on social media
    Axel Bruns, Queensland University of Technology; Daniel Angus, Queensland University of Technology; Timothy Graham, Queensland University of Technology, and Tobias R. Keller, Queensland University of Technology News and views about coronavirus has spread via social media in a way that no health emergency has done before. Platforms like Twitter, Facebook, ...
    SciBlogsBy Guest Author
    1 week ago
  • How to survive 14 days of self-isolation
    So you’ve recently returned from overseas, come into contact with someone who tested positive, got a bit of a dry cough yourself or perhaps just want to self isolate for 14 days to avoid other people who might have COVID-19. Here are a few tips and tricks to help get ...
    2 weeks ago
  • Abortion Legislation Bill passes third reading
    Some fave speeches:     ...
    Boots TheoryBy Stephanie Rodgers
    2 weeks ago
  • Why Leadership Matters – More Than Anything.
    Our Good Fortune: Precisely because she has never been an ideologue (she calls herself a “pragmatic idealist”) Jacinda Ardern has a political nimbleness and spontaneity which, when infused with her exceptional emotional intelligence, produces spectacular demonstrations of leadership. Jacinda's empathic political personality contrasts sharply with the less-than-sunny ways of her ...
    2 weeks ago
  • Skeptical Science New Research for Week #11, 2020
    2 weeks ago
  • 68-51
    The Abortion Legislation Bill has just passed its third reading, 68-51. NZ First MPs bailed because their referendum amendment didn't pass, but there were plenty of MPs to provide a majority without them. The bill is a long way from perfect - most significantly, it subjects pregnant people who need ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The ‘herd immunity’ route to fighting coronavirus is unethical and potentially dangerous
    As most of the world tries to suppress the coronavirus spread, some countries are going it alone – trying to manage the pandemic through so-called “herd immunity”. Herd immunity means letting a large number of people catch a disease, and hence develop immunity to it, to stop the virus spreading. ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Eight new COVID-19 cases today. It’s no surprise when you look at some numbers
    So, as I sit at home with a very, very slight headache (i.e. not at work when I would otherwise be so), the now familiar figure of Ashley Bloomfield reports eight new confirmed cases of COVID-19  including two in Waikato. A surprise, given that we had just twelve yesterday? No. ...
    SciBlogsBy Marcus Wilson
    2 weeks ago
  • The WINZ Paradox versus the new COVID-19 Reality: Get real people, seriously…
    Many who advocated for, and voted for, the current Coalition – particularly those who voted Labour and the Green Party – expected to see a sea change in the reality of social services. A real, deep change of attitude, approach of process through which the system negotiates the difficult and ...
    exhALANtBy exhalantblog
    2 weeks ago
  • The Air New Zealand bailout
    Stuff reports that the government is going to have to throw $2 - 3 billion at Air new Zealand to get it through the pandemic. Good. While international routes are basicly closed, Air New Zealand is a strategic asset which is vital to our tourism industry, not to mentioning airfreight. ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Why NZ’s tough coronavirus travel rules are crucial to protecting lives at home and across the Pac...
    New Zealand’s border restrictions will come with significant job and business losses in the tourism sector, both at home and in the Pacific. But the new travel rules are absolutely necessary to protect the health of New Zealanders and people right across Pacific Islands, because New Zealand is a gateway ...
    SciBlogsBy Guest Author
    2 weeks ago
  • The tiniest of teeth
    Back in early 2018, as a shoddy legal tactic to try and avoid the prisoner voting ban being formally declared inconsistent with the BORA by the Supreme Court, Justice Minister Andrew Little floated the idea of greater legal protection for human rights. When the Supreme Court case didn't go the ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • One simple, common factor to success against COVID-19
    Professor Philip Hill and Associate Professor James Ussher Most infectious diseases have an Achilles heel, the secret is to find it. The question is if we don’t have a drug or a vaccine for COVID-19, is there something else we can do to beat it? Some people estimate that, without ...
    SciBlogsBy Guest Author
    2 weeks ago
  • National should isolate Simon Bridges
    The Coalition Governments $12.1 billion economic package to help combat the financial effects of COVID-19 was generally well received across the board, even amongst many business leaders who would normally be critical of a Labour led Government.However there was one glaringly obvious exception, Simon Bridges. The so-called leader of the ...
    2 weeks ago
  • How testing for Covid-19 works
    With confirmed cases of Covid-19 in New Zealand up to 12, many influential people are writing open letters and opinion pieces and doing press conferences asking why we aren’t pulling out all the stops and testing thousands of people a day like they are in South Korea. The thing is, ...
    SciBlogsBy Siouxsie Wiles
    2 weeks ago
  • The COVID-19 package and the limits of capitalism
    by Daphna Whitmore The willingness to put human life before business shows that sometimes capitalism is capable of suspending its relentless drive for profit. For a short time it can behave differently. Flatten the curve is the public health message since COVID-19 suddenly overwhelmed the hospital system in northern Italy. ...
    RedlineBy Daphna
    2 weeks ago
  • Black April, May and June?
    Worldwide, the 1918 influenza epidemic – wrongly called ‘Spanish’ flu – lasted about two years. However, it lasted about six weeks in New Zealand (remembered as ‘Black November’, because the dead turned a purplish-black). It is thought about 7000 Pakeha died and 2,500 Maori. The population mortality rate was about ...
    PunditBy Brian Easton
    2 weeks ago
  • COVID 19 has struck… as has a lot of terrible ineptitude from far too many
    In a world and a time when the worst off and most vulnerable have been asked, time and again, to foot the bill for the complete subjugating to the will of the 1% thanks to the GFC, at a point where the world as a whole is now seeing quite ...
    exhALANtBy exhalantblog
    2 weeks ago

  • Tariff concessions on COVID-19 related products
    New Zealand will temporarily remove tariffs on all medical and hygiene imports needed for the COVID-19 response. Trade and Export Growth Minister David Parker and Commerce and Consumer Affairs Minister Kris Faafoi said today that the New Zealand Customs Service will apply tariff concessions to all diagnostic reagents and testing ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Clarification of modification to wage subsidy scheme
    Minister of Finance Grant Robertson has clarified that the changes to the wage subsidy scheme announced yesterday mean that employers should be passing on the full subsidy to workers, except in the case where the person’s normal income is less than the level of the subsidy. “We still want employers ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Face masks flowing to DHBs
    Medical face masks from the national reserve supply are now being distributed to District Health Boards, while at the same time local production is being ramped up. Yesterday more than 640,000 masks were sent to DHBS – that is an immediate two week supply, with more to follow in coming ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • COVID-19: Further steps to protect New Zealanders’ jobs
    The Government has made modifications to the wage subsidy scheme to ensure people don’t lose their jobs during the national lockdown. These changes will soften the impact of COVID-19 on workers, families and businesses, and position them to exit the lockdown and look to recovery, Finance Minister Grant Robertson says. ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tax relief for Mycoplasma Bovis farmers
    Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances. Revenue Minister Stuart Nash says Cabinet has agreed to change the law. It means farmers may be eligible to spread their income over ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • $27 million for NGOs and community groups to continue providing essential services
    A $27 million dollar package, effective immediately, is being provided to social sector services and community groups to ensure they can continue to provide essential support to communities as we stay at home as a nation to stop the spread of COVID-19, Minister for Social Development Carmel Sepuloni announced. “At ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Statement on guilty plea of March 15 terrorist
    “The guilty plea today will provide some relief to the many people whose lives were shattered by what happened on March 15,” Prime Minister Jacinda Ardern said. “These guilty pleas and conviction bring accountability for what happened and also save the families who lost loved ones, those who were injured, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19 updates
    The Prime Minister is holding daily press conferences to update New Zealanders on the Government's response to COVID-19. Links to videos and transcripts of these updates below. These transcripts also include All of Government press conferences led by Director Ministry of Health's Director-General of Health Dr Ashley Bloomfield. 25 March: Live update from the Prime ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Police numbers break through 10,000 mark
    Frontline Police numbers have broken through the 10,000 mark for the first time in history as officers step forward to keep the community safe during the COVID19 lockdown. “Two Police graduations in Auckland and Wellington in the past week have been conducted in unprecedented circumstances,” Police Minister Stuart Nash said. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Urgent tax measures for economic recovery
    Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak. “The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill will cushion New Zealanders from the worst economic impacts of the COVID-19 outbreak,” said Revenue Minister ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Further support for farmers and growers as drought persists
    From tomorrow, Government support for farmers and growers affected by drought will be expanded and extended across the country, with access to Rural Assistance Payments (RAPS) available throughout the North Island, parts of the South Island and the Chatham Islands, Social Development Minister Carmel Sepuloni announced. “These challenging conditions have ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19: Temporary changes to Education Act
    Parliament has passed amendments to legislation that give the Secretary of Education stronger powers to act in the fight to limit the spread of COVID-19, Education Minister Chris Hipkins said today. “They are part of a suite of changes passed under the COVID-19 Response (Urgent Management Measures) Legislation Bill,” Chris ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Canada, Australia, Chile, Brunei and Myanmar join NZ and Singapore in committing to keeping supply a...
    Canada, Australia, Chile, Brunei and Myanmar have joined forces with New Zealand and Singapore by committing to keep supply chains open and remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis.  Trade and Export Growth Minister David Parker today welcomed ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19: Rent increase freeze and more protection for tenants
    Immediate freeze on rent increases Tenancies will not be terminated during the lock-down period, unless the parties agree, or in limited circumstances Tenants who had previously given notice can stay in their if they need to stay in the tenancy during the lock-down period Tenants will still be able to ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Working together to protect businesses and workers
    As New Zealand unites to lock-down in the fight against COVID-19, the Finance Minister is urging all businesses and workers to stay connected over the next four weeks. “We understand the extreme pressure many businesses are under right now. I know most business owners think of their workers as family ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • State of National Emergency declared to fight COVID-19
    A State of National Emergency has been declared across the country as the Government pulls out all the stops to curtail the spread of COVID-19. “Today we put in place our country’s second ever State of National Emergency as we fight a global pandemic, save New Zealanders’ lives and prevent ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister’s statement on State of National Emergency and Epidemic Notice
    Mr Speaker I wish to make a Ministerial Statement under Standing Order 347 in relation to the recent declaration of a State of National Emergency. Having considered the advice of the Director Civil Defence Emergency Management, the Minister of Civil Defence declared a State of National Emergency for the whole of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Deadline for domestic travel extended
    People needing to travel on domestic flights, trains and Cook Strait ferries to get home before the country moves into level 4 lock-down tomorrow night will be able to continue using the passenger services until midnight on Friday, Transport Minister Phil Twyford said today. Domestic passenger services, particularly ferries, have ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Mortgage holiday and business finance support schemes to cushion COVID impacts
    The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19. The package will include a six month principal and interest payment holiday for mortgage holders and SME customers whose incomes have been ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government working to keep air freight moving
    Minister of Transport Phil Twyford has today announced details of the Government’s support package to keep key air freight moving and ensure New Zealanders retain access to essential goods during the four-week level 4 lockdown. “The Government is working with airlines and air freight operators to ensure New Zealand’s key ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand moves to COVID-19 Alert Level 3, then Level 4 in 48 hours
    New Zealand moved up to COVID-19 Alert Level 3 – Restrict New Zealand to move up to COVID-19 Alert Level 4 – Eliminate, in 48 hours Two-staged approach to give people and businesses time to prepare  Level 3, from tomorrow Non-essential businesses must close All events and gatherings must be ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Prime Minister: COVID-19 Alert Level increased
    Good afternoon  The Cabinet met this morning to discuss our next actions in the fight against COVID-19.  Like the rest of the world, we are facing the potential for devastating impacts from this virus. But, through decisive action, and through working together, do we have a small window to get ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes significant economic decisions as NZ readies for Alert Level 4 in COVID-19 fight
    The Government is announcing significant further support for the economy, workers and businesses as the country unites to prepare for Alert Level 4 in the fight against COVID-19. Cabinet today agreed to remove the cap on the Government’s wage subsidy scheme, which will inject a further $4 billion into the ...
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    6 days ago
  • Govt backs RBNZ move to support economy with lower interest rates
    The Government is backing the Reserve Bank’s latest action to support the economy by reducing longer-term interest rates, meaning lower costs for businesses and mortgage holders, and a lower currency to help our exporters. The Minister of Finance has signed a memorandum of understanding and a letter of indemnity with ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Government statement on commercial cooperation during COVID-19
    The Government has asked the Commerce Commission to take account of the exceptional circumstances created by COVID-19 when monitoring business behaviour in coming weeks.   “The purpose of my request to the Commerce Commission is to make sure businesses can work together in ways that will allow them to provide ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand temporarily closes diplomatic posts in Barbados and Myanmar due to COVID-19
    The New Zealand Government has temporarily closed its High Commission in Bridgetown, Barbados and its Embassy in Yangon, Myanmar due to the COVID-19 pandemic, Foreign Minister Winston Peters says.   “Due to the increasing scarcity of air links in and out of Bridgetown and Yangon, and the pressure COVID-19 is placing ...
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    1 week ago
  • Supporting Māori communities and businesses through
    Associate Health and Whānau Ora Minister Peeni Henare has today announced the Government’s plan to support Māori communities and businesses in the face of COVID-19. “Our Government’s $12.1 billion economic package will help many Māori whānau, workers and businesses, whether it’s through wage subsidies, income support and worker redeployment, or ...
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    1 week ago
  • Guidelines for hospitality establishments released
    The Government and the hospitality industry have worked together to produce guidelines to assist with managing and reducing transmission of COVID-19, Health Minister David Clark announced today.  The guidelines developed between the Government, Hospitality New Zealand and SkyCity Entertainment Group, set out how the new restrictions on physical distancing and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Nation steps up to COVID-19 Alert Level 2
    Four stage Alert System for COVID-19 announced New Zealand moved up to COVID-19 Alert Level 2 – Reduce Contact New Zealanders over 70 and those with certain medical conditions told to stay at home as much as they can to reduce risk of contact with the virus Workplaces to implement ...
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    1 week ago
  • PM Address – Covid-19 Update
    Kia ora koutou katoa I’m speaking directly to all New Zealanders today to give you as much certainty and clarity as we can as we fight Covid-19. Over the past few weeks, the world has changed. And it has changed very quickly. In February it would have seemed unimaginable to ...
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    1 week ago
  • NZ and Singapore commit to keeping supply and trade links open, including on essential goods and med...
    New Zealand and Singapore have jointly committed to keep supply chains open and to remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis. Trade and Export Growth Minister David Parker welcomed the commitment. “This is an important collective response, and ...
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    1 week ago
  • Joint Ministerial Statement by Singapore and New Zealand -Covid-19 situation
    JOINT MINISTERIAL STATEMENT BY SINGAPORE AND NEW ZEALAND AFFIRMING COMMITMENT TO ENSURING SUPPLY CHAIN CONNECTIVITY AMIDST THE COVID-19 SITUATION  The COVID-19 pandemic is a serious global crisis.  As part of our collective response to combat COVID-19, Singapore and New Zealand are committed to maintaining open and connected supply chains. We ...
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    1 week ago
  • Transit between Australia and New Zealand
    Travel restrictions, closing our border to almost all travelers came into force from 23:59 on Thursday 19 March 2020 (NZDT).  All airlines were informed of these restrictions before they came into force. Immigration Minister Iain Lees-Galloway says “The transit of passengers between Australia and New Zealand has been agreed upon and ...
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    1 week ago
  • $100 million to redeploy workers
    The Government has allocated $100 million to help redeploy workers affected by the economic impact of COVID-19, with the hard-hit region of Gisborne-Tairāwhiti to be the first helped, Economic Development Minister Phil Twyford, Forestry and Regional Economic Development Minister Shane Jones and Employment Minister Willie Jackson announced today. Phil Twyford ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More support for wood processing
    The Provincial Growth Fund (PGF) is ramping up support for Tairāwhiti’s wood processing sector to bolster the region’s economy at a time of heightened uncertainty, Regional Economic Development Minister Shane Jones announced today. Following earlier announcements today of a regional support package for Tairāwhiti, Minister Jones has also announced a ...
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    1 week ago
  • Govt steps in to protect Air New Zealand
    The Coalition Government has stepped in to protect Air New Zealand with a significant financial deal that protects essential routes and allows the company to keep operating. The Government and Air New Zealand have agreed a debt funding agreement through commercial 24-month loan facilities of up to $900 million*. The ...
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    1 week ago
  • Stronger border measures to protect NZers from COVID-19
    The Government has taken further measures to protect New Zealanders from the COVID-19 virus, effectively stopping all people from boarding a plane to New Zealand from 11:59pm today, except for returning New Zealanders, Prime Minister Jacinda Ardern announced today.  New Zealanders’ partners, legal guardians or any dependent children travelling with ...
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    1 week ago
  • Action on indoor gatherings and events to protect public health
    The Government has reinforced its commitment to protecting the health of New Zealanders from COVID-19 through the cancellation of indoor events with more than 100 people.  “Protecting the health of New Zealanders is our number one priority, and that means we need to reduce the risks associated with large gatherings,” ...
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    1 week ago
  • New Zealanders advised not to travel overseas
    The New Zealand Government is advising New Zealanders not to travel overseas due to COVID-19, Foreign Minister Winston Peters has announced. “We are raising our travel advice to the highest level: do not travel,” Mr Peters said. “This is the first time the New Zealand Government has advised New Zealanders ...
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    1 week ago
  • Govt announces aviation relief package
    Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier this week as part of the Government’s $12.1 billion COVID-19 economic response. The initial part of the aviation package aims to secure the operators of New Zealand’s aviation security system, and ...
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    1 week ago