The real economy vs the casino
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10:57 am, July 26th, 2010 - 14 comments
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For the business pages, it’s Reserve Bank week and once again the banks want the Governor to push up the price of money, while those in the real economy where the jobs are want interest rates kept steady. As they say, there are no signs of rampant inflation and growth forecasts are uncertain.
But the money markets want a one-way bet. And some of them were not subtle:
Darren Gibbs at Deutsche Bank said it was “virtually unthinkable” that the Reserve Bank would keep interest on hold.Roland Randall at TD Securities said such a move would be seen by the markets as the Reserve Bank “failing its first test of faith” which could prompt a selloff of the New Zealand dollar by currency traders.
On the other hand:
Some sectors of the economy have called for interest rates to be kept on hold until there is evidence of a broad-based recovery.
The New Zealand Manufacturers and Exporters Association said last month’s rate hike was based on an optimistic reading of economic conditions and that another interest rate increase could damage the recovery. Chief executive John Walley said the recovery was, at best “weak and unbalanced”.
“A dip back into recession in Europe or stagnation in China could see commodity prices fall further and very quickly,” Mr Walley said.
“The risks posed today by these potential shocks far outweigh any potential inflationary pressures a year or so down the track.”
And the old inflation bogey gets trotted out again.
Khoon Goh, senior markets economist at ANZ/National, said in Wellington last week that keeping interest rates down would stimulate the economy, but rather than increase productivity it would drive up consumption, fuelling another housing bubble.
“What the historical experience has shown is that if you keep interest rates too low for too long, yes it stimulates the economy, but it stimulates the wrong part of the economy.”
The twenty-first century risk is deflation, not inflation. If interest rates are kept too high for too long it also stimulates the wrong part of the economy – the financial sector. Holding rates in check this month is not going to start a housing bubble, but it may save jobs in manufacturing.
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- Vertical farming partnership has upward momentumThe 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 ...2 days ago
- Conference of Pacific Education Ministers – Keynote AddressE 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 ...2 days ago
- New $13m renal unit supports Taranaki patientsThe 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 ...2 days ago
- Second Poseidon aircraft on home soilDefence 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 ...2 days ago
- Further humanitarian aid for Türkiye and SyriaAotearoa 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 ...2 days ago
- Community voice to help shape immigration policyMigrant 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 ...2 days ago
- State Highway 3 project to deliver safer journeys, better travel connections for TaranakiConstruction 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 ...2 days ago
- Ginny Andersen appointed as Minister of PolicePrime 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 ...3 days ago
- Government confirms vital roading reconnectionsSix 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 ...3 days ago
- Foreign Minister Mahuta to meet with China’s new Foreign MinisterForeign 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. ...3 days ago
- Education Ministers from across the Pacific gather in AotearoaEducation 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, ...3 days ago
- State Highway 5 reopens between Napier and Taupō following Cyclone GabrielleA 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 ...3 days ago
- Special Lotto draw raises $11.7 million for Cyclone Gabrielle recoveryInternal 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 ...4 days ago
- Government delivers a $3 million funding boost for Building Financial Capability servicesThe 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 ...6 days ago
- Education New Zealand | Manapou ki te Ao – new Chair and memberMinister 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 ...6 days ago
- Scholarships honouring Ngarimu VC and the 28th (Māori) Battalion announcedFifteen 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, ...6 days ago
- Appointment of Judge of the Court of Appeal and Judge of the High CourtHigh 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 ...6 days ago
- NZ still well placed to meet global challengesThe 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 ...6 days ago
- Western Ring Route CompleteAucklanders 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 ...6 days ago
- Briefings to Incoming MinistersThis 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. ...6 days ago
- Teaming up for a stronger, more resilient FijiAotearoa 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 ...7 days ago
- Investment in blue highway a lifeline for regional economies and cyclone recoveryThe 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 ...7 days ago
- Next steps developing clean energy for NZThe 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 ...7 days ago
- Statement from the Prime Minister on Stuart NashThis morning I was made aware of a media interview in which Minister Stuart Nash criticised a decision of the Court and said he had contacted the Police Commissioner to suggest the Police appeal the decision. The phone call took place in 2021 when he was not the Police Minister. ...1 week ago
- CPTPP Trade Ministers coming to AucklandThe Government’s sharp focus on trade continues with Aotearoa New Zealand set to host Trade Ministers and delegations from 10 Asia Pacific economies at a meeting of Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission members in July, Minister for Trade and Export Growth Damien O’Connor announced today. “New Zealand ...1 week ago
- Govt approves $25 million extension for cyclone-affected businesses$25 million boost to support more businesses with clean-up in cyclone affected regions, taking total business support to more than $50 million Demand for grants has been strong, with estimates showing applications will exceed the initial $25 million business support package Grants of up to a maximum of $40,000 per ...1 week ago
- More than 160,000 new Kiwis to call NZ home80 per cent of 2021 Resident Visas applications have been processed – three months ahead of schedule Residence granted to 160,000 people 84,000 of 85,000 applications have been approved Over 160,000 people have become New Zealand residents now that 80 per cent of 2021 Resident Visa (2021RV) applications have been ...1 week ago
- Scholarships propel Kiwi students to NASAThe Government continues to invest in New Zealand’s burgeoning space industry, today announcing five scholarships for Kiwi Students to undertake internships at NASA’s Jet Propulsion Laboratory (JPL) in California. Economic Development Minister Stuart Nash congratulated Michaela Dobson (University of Auckland), Leah Albrow (University of Canterbury) and Jack Naish, Celine Jane ...1 week ago
- New Zealand to attend regional security meeting in AustraliaThe Lead Coordination Minister for the Government’s Response to the Royal Commission’s Report into the Terrorist Attack on the Christchurch Mosques travels to Melbourne, Australia today to represent New Zealand at the fourth Sub-Regional Meeting on Counter-Terrorism and Transnational Security. “The Government is committed to reducing the threat of terrorism ...1 week ago
- Health and safety action plan for portsThe health and safety practices at our nation’s ports will be improved as part of a new industry-wide action plan, Workplace Relations and Safety, and Transport Minister Michael Wood has announced. “Following the tragic death of two port workers in Auckland and Lyttelton last year, I asked the Port Health ...1 week ago
- Bikes and scooters to be exempt from FBTBikes, electric bikes and scooters will be added to the types of transport exempted from fringe benefit tax under changes proposed today. Revenue Minister David Parker said the change would allow bicycles, electric bicycles, scooters, electric scooters, and micro-mobility share services to be exempt from fringe benefit tax where they ...1 week ago
- Foreign Affairs Minister to reaffirm our close relationship with FijiForeign Affairs Minister Nanaia Mahuta will hold bilateral meetings with Fiji this week. The visit will be her first to the country since the election of the new coalition Government led by Prime Minister and Minister of Foreign Affairs Sitiveni Rabuka. The visit will be an opportunity to meet kanohi ki ...1 week ago
- New legislation to streamline Cyclone recoveryThe Government is introducing the Severe Weather Emergency Legislation Bill to ensure the recovery and rebuild from Cyclone Gabrielle is streamlined and efficient with unnecessary red tape removed. The legislation is similar to legislation passed following the Christchurch and Kaikōura earthquakes that modifies existing legislation in order to remove constraints ...1 week ago
- Scams Run High During Tax Time: Cyber Security Expert Warns New Zealanders Of Common Fraudster Tacti...
Ahead of tax season, Avast , a leading digital security and privacy brand of Gen ™ (NASDAQ: GEN), is warning New Zealanders of increased scam activity as cybercriminals prey on taxpayers' vulnerability during a time when they are expecting their tax ...22 mins ago - Bryce Edwards’ Political Roundup: The Beehive’s revolving door and corporate mateship
Analysis by Dr Bryce Edwards. Political Roundup: 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 ...34 mins ago - Housing Affordability More Challenging For Renters Than HomeownersIn the year ended June 2022, 1 in 4 households that were renting were spending more than 40 percent of their disposable income on housing costs, compared with 1 in 5 households that were paying a mortgage, according to figures released by Stats NZ ...37 mins ago
- Child Poverty Statistics Show No Annual Change In The Year Ended June 2022Child poverty rates for the year ended June 2022 were unchanged compared with the previous year, according to figures released by Stats NZ today. “Child poverty statistics have not changed compared with last year,” general manager social and ...39 mins ago
- Broadcaster turned conspiracy theorist Liz Gunn appears in court
The former broadcaster Liz Gunn, who has become a vocal figure within the anti-vaccination movement in New Zealand, has appeared in court today after an alleged airport altercation earlier this year. Gunn pleaded not guilty to charges of assault, trespass and resisting arrest over the incident at Auckland International Airport. ...57 mins ago - How to boost your backyard biodiversityYou don’t need to go to wildlife sanctuaries to see native birds, bugs and reptiles. This is an excerpt from our weekly environmental newsletter Future Proof brought to you by Electric Kiwi – sign up here. Recently I wrote a feature for New Zealand Geographic on weeds – it turns out, a ...1 hour ago
- ‘Tough news for tenants’: Rent prices soar to new record highRental costs have hit a record high, according to new statistics released this morning. Trade Me has reported that the national median rent was up to $600 in February – a jump of 4%, or $25, when compared with the same month in 2022. It’s not unusual to see rent ...2 hours ago
- Sense Prevails As Immigration NZ Chooses To Allow Free Speech Of British SpeakerThe Free Speech Union welcomes the decision by Immigration New Zealand to not suspend Kellie-Kay Keen-Minshull's NZeTA and to allow her entry into the country, says Jonathan Ayling, Chief Executive of the Free Speech Union. “The Free Speech Union envisions ...2 hours ago
- Finally A Political Party For The Farmers – HeartLandNZHeartLandNZ represents provincial New Zealand, the heart of the nation, the men and women, workers, contractors, businesses and farmers in the successful primary production sector. For over 30 years these voters have been economically ...2 hours ago
- Help Me Hera: How do you know when it’s time to quit?This week, Hera Lindsay Bird ponders whether it’s better to leave a party too early or too late. Want Hera’s help? Email your problem to [email protected] Dear Hera, How can you tell when something is over? A recurring theme through my life is sticking around way past the due date. There have been ...3 hours ago
- National’s education ‘rewrite’ to target years one to eightNational’s new education policy will focus on the first eight years of education – primary and intermediate – in an effort to prepare students for high school. The opposition will formally unveil their policy later today – coincidentally (or likely not) in the prime minister’s electorate of Upper Hutt. Erica ...3 hours ago
- Why is my loved one with dementia sometimes ‘there’ and sometimes not?Source: The Conversation (Au and NZ) – By Yen Ying Lim, Associate Professor, Monash University Shutterstock Dementia is an umbrella term to describe a progressive neurological condition that affects people’s cognitive abilities, such as memory, language and reasoning. Alzheimer’s is the most common form, but other common ...3 hours ago
- Fear and Wonder podcast: how scientists know the climate is changingSource: The Conversation (Au and NZ) – By Michael Green, Host + Producer, The Conversation A comparison between two views of the same coral reef on Kiritimati, taken by University of Victoria scientists. Danielle Claar, Kristina Tietjen/University of Victoria Earlier this week, the United Nations’ Intergovernmental Panel on Climate Change ...3 hours ago
- The Great Southern Reef is in more trouble than the Great Barrier ReefSource: The Conversation (Au and NZ) – By Graham Edgar, Senior Marine Ecologist, Institute for Marine and Antarctic Studies, University of Tasmania Graham Edgar/Reef Life Survey, Author provided Marine heatwaves are damaging reef ecosystems around Australia, but while the tropical north has received the lion’s share of the ...3 hours ago
- ‘Some of them do treat you like an idiot’: what it’s like to be a casual academicSource: The Conversation (Au and NZ) – By Steven Burch, Lecturer in Accounting, University of Tasmania Shutterstock One of the priorities of the federal government’s sweeping Universities Accord is to improve employment conditions in higher education. This is long overdue. Australia’s university sector once set the standard for ...3 hours ago
- Yes, the 1.5 million Australians getting rent assistance need an increase, but more public housing i...Source: The Conversation (Au and NZ) – By Liam Davies, PhD Candidate, Centre for Urban Research, RMIT University Image: David Kelly, Author provided Australia is in the grip of a housing crisis, with low-income households hit hardest by rising rents and falling vacancy rates. Social housing tenants were ...3 hours ago
- Why Lent is the perfect time to spiritually prepare for revolutionSource: The Conversation (Au and NZ) – By Kristie Patricia Flannery, Research Fellow, Institute for Humanities and Social Sciences, Australian Catholic University Francisco V. Coching’s Rendition of Gabriela Silang Charging on a Mount, 1986 (Ayala Museum). It was around this time of year back in 1763 that Filipino rebels ...3 hours ago
- Government eyes EV charging ‘hubs’ across the countryThe government’s planning to roll out dozens of new electric vehicle charging stations across the country in new “hubs” that would operate similar to existing petrol stations. The “charging our future” strategy has set a target of bringing in new hubs ever 150 to 200 kilometres along the state highways, ...3 hours ago
- The Bulletin: The fight to have a former All Black’s CTE recognised by ACCThis morning we bring you an exclusive on The Spinoff from Dylan Cleaver. Wellington rugby stalwart, one-game All Black and former New Zealand First MP Tutekawa Wyllie has had his probable chronic traumatic encephalopathy (CTE) condition recognised and compensated for by the ACC after a five-year campaign. CTE is a brain ...4 hours ago
- Why governments are banning TikTok from phonesNew Zealand joins countries around the world by banning TikTok on government-issued devices as the US threatens an outright ban on the popular social media app, writes Anna Rawhiti-Connell in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. ...4 hours ago
- Warring building supplies firms tie up critical NZ land with 999-year covenants
Big building supply companies have fended off competition by wrapping desirable blocks of land in legal constraints on generations of NZers, alarming the Commerce Commission into issuing a far-reaching warning. Jonathan Milne reports. ...5 hours ago - Green Party Announces Environmental Lawyer Teall Crossen As Candidate For The Nelson ElectorateThe Green Party is announcing Teall Crossen as their candidate for the Nelson Whakatū electorate. Teall is an environmental barrister and activist with two decades of experience advocating for the rights of people and nature in the Courts in Aotearoa, ...5 hours ago
- Women refs rise with Aupiki
NZ Rugby wants to triple the number of female rugby referees - starting with the rise of Natarsha Ganley to Super Rugby honours, and handing a whistle to an Aupiki star player in a new scholarship. Suzanne McFadden writes. Natarsha Ganley loves rules. So during the week, she's on the lookout for ...6 hours ago - Inside the years-long fight to have a former All Black’s CTE recognised by ACCExclusive: All Black turned NZ First MP Tutekawa Wyllie and his wife Margaret have won a landmark battle that could open the floodgates for rugby-related head injury claims. Dylan Cleaver reports. Wellington rugby stalwart, one-game All Black and former New Zealand First MP Tutekawa Wyllie has had his probable chronic ...6 hours ago
- Shows of local strength deliver upsets in key Labour selection contestsDo the results in Mt Albert, Wellington Central and Christchurch East amount to thumbing noses at head office, or are they a sign of party strength? Across three Labour selection contests in three high-profile electorates over the last fortnight, candidates have succeeded from local foundations in seeing off rivals considered ...6 hours ago
- More 'how' less 'what' for social services
The Wellington City Missioner wants government agencies to move away from simply administering social services to the needy. ...7 hours ago - Book of the Week: Terfs, and other haters
This week's anti-trans rally is straight out of the right-wing playbook With strange and toxic prescience, a subject from the new study Histories of Hate: The Radical Right in Aotearoa New Zealand has leapt from the pages of the book into a major news story this week. The ...7 hours ago - Solomons PM joins Pacific push for NZ visa waiver access
More than half the visitor visa applications rejected by officials come from just nine Pacific nations ...7 hours ago - Healing te taiao: Moving on from peak pine
More than half of Aotearoa may need to be in native ngahere (bush) to merely blunt future worsening storms, but without such revolutionary change, Aotearoa could descend into a spiral of social, ecological, and economic damage Much of our land is without any trees, or is without the right trees, ...7 hours ago - Behind the story: Lobbying and the backdoor of our democracy
Unlike other countries around the world, New Zealand has no regulations about lobbying. Is change needed to ensure greater transparency about who's influencing our decision-makers? If you want to know who lobbies the Australian government on behalf of Air New Zealand, you simply go to an online register, type ...7 hours ago - How the Rakaia turned into a pipe for irrigators
Problems protecting NZ's biggest braided river were predicted years ago, papers show ...7 hours ago - China will test NZ's fence-straddling diplomacy as never before
NZ's likely Aukus involvement relating to technology will have far-reaching consequences ...7 hours ago - Disaster-in-waiting warn south’s farmers
Cyclone Gabrielle’s hammering of Hawkes Bay has ignited fears in Southland of bridges failing and farmland flooding through “mismanagement” of accumulated gravel Southland farmer Barry Taylor is frustrated gravel is being allowed to build up beneath a bridge on one of the country’s key tourist routes despite his years of ...7 hours ago - Newsroom daily quiz, Thursday 23 March
Loading...(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[quiz],DIV[quiz],A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. ...8 hours ago - Daily crossword, Thursday 23 March
...8 hours ago - Throwing voting-age legislation onto the 'policy bonfire' only delays a debate that has to...
Opinion - There's plenty of research supporting lowering the voting age to 16. Public debate and the law just need to catch up, Claire Breen writes. ...14 hours ago - Word from The Hill: Reactions to AUKUS, next steps on the Voice, NSW electionSource: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra As well as her interviews with politicians and experts, Politics with Michelle Grattan includes “Word from The Hill”, where she discusses the news with members of The Conversation’s politics team. In this podcast Michelle and ...15 hours ago
- Xi’s Moscow trip shows peace in Ukraine isn’t China’s main concernSource: The Conversation (Au and NZ) – By Jingdong Yuan, Associate Professor, Asia-Pacific security, University of Sydney Chinese President Xi Jinping’s trip to Moscow this week has been more about reiterating China and Russia’s shared interests, and less about any concrete pathway towards ending the war in Ukraine. While a ...16 hours ago
- ‘Cultural expression through dress’: towards a definition of First Nations fashionSource: The Conversation (Au and NZ) – By Treena Clark, Chancellor’s Postdoctoral Indigenous Research Fellow, Faculty of Design, Architecture and Building, University of Technology Sydney This May, Wiradjuri woman Denni Francisco and her label Ngali will be the first Indigenous designer to have a solo show at Australian Fashion Week. ...18 hours ago
- ‘Cultural expression through dress’: towards a definition of First Nations fashionSource: The Conversation (Au and NZ) – By Treena Clark, Chancellor’s Postdoctoral Indigenous Research Fellow, Faculty of Design, Architecture and Building, University of Technology Sydney This May, Wiradjuri woman Denni Francisco and her label Ngali will be the first Indigenous designer to have a solo show at Australian Fashion Week. ...18 hours ago
- Yes, we see you. Why a national plan for homelessness must make thousands of children on their own a...Source: The Conversation (Au and NZ) – By Catherine Robinson, Associate Professor in Housing and Communities, University of Tasmania Shutterstock Thousands of children end up being homeless in Australia without a parent or guardian. In 2021-22, 12,812 children (aged 10-17) were on their own when they sought help ...19 hours ago
- Yes, we see you. Why a national plan for homelessness must make thousands of children on their own a...Source: The Conversation (Au and NZ) – By Catherine Robinson, Associate Professor in Housing and Communities, University of Tasmania Shutterstock Thousands of children end up being homeless in Australia without a parent or guardian. In 2021-22, 12,812 children (aged 10-17) were on their own when they sought help ...19 hours ago
- Credit Suisse is an anomaly: why Australia and New Zealand are safe from ‘bank run’ contagionSource: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra There has been a lot of talk about the risk of financial contagion following the collapse of California’s Silicon Valley Bank. Perhaps too much talk. While the ...19 hours ago
- Credit Suisse is an anomaly: why Australia and New Zealand are safe from ‘bank run’ contagionSource: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra There has been a lot of talk about the risk of financial contagion following the collapse of California’s Silicon Valley Bank. Perhaps too much talk. While the ...19 hours ago
- You Can’t Get Blood Out Of A Stone...19 hours ago
- Pacific needs to sit up and pay close attention to AUKUS, says Dame Meg TaylorA Pacific elder and former secretary-general of the Pacific Islands Forum says Pacific leaders need to sit up and pay closer attention to AUKUS and the Indo-Pacific strategy and China’s response to them. Speaking from Port Moresby in Papua New Guinea, Dame Meg Taylor said Pacific leaders were being sidelined ...19 hours ago
- Cyclone Gabrielle: Robertson warns of delays to rebuild decisionsThe government says it should have details on which weather-hit areas are high risk within three weeks, and can then make decisions about rebuilding. ...19 hours ago
- What to expect when you’re expecting an El Niño (the answer might surprise you)Source: The Conversation (Au and NZ) – By Carly Tozer, Senior Research Scientist, CSIRO Dean Lewins/AAP La Niña and El Niño are well-known terms in Australia these days. Linked to them are certain expectations: we expect wet conditions in La Niña and dry conditions in El Niño. These ...20 hours ago
- Called it: The Game is not coming to New ZealandPromoters say The Game has pulled out of his upcoming appearance at two legs of a new New Zealand hip-hop festival, continuing the Compton rapper’s sketchy attendance record in Aotearoa. In an announcement made on Facebook today, promoters Room Service say The Game, real name Jayceon Taylor, has “last-minute commitments” ...20 hours ago
- Te Whatu Ora reveals it has about 200 comms people, following criticism from NationalThe organisation has about 200 communications staff. The figure came in response to a Parliamentary written question from National. ...20 hours ago
- Counter-protests planned against anti-trans speakerCounter-protests are planned for this weekend as a controversial anti-trans campaigner speaks in two New Zealand cities. Kellie-Jay Keen-Minshull will be allowed into the country after Immigration NZ said the threshold to stop her had not been reached. In a tweet, Rainbow Greens, the group that released an open letter ...20 hours ago
- The magical world of restaurant staff mealsWe asked workers at some of our favourite food establishments to show us what they eat when the rush is over. This is an excerpt from our weekly food newsletter The Boil Up. Last week was Work Week on The Spinoff, dedicated to unpacking our relationship with the world ...21 hours ago
- Bryce Edwards’ Political Roundup: Who will drain Wellington’s lobbying swamp?Analysis by Dr Bryce Edwards. Political Roundup: 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 ...21 hours ago
- New Norton 360 Platinum To Help New Zealanders Address Identity Theft Issues65 percent of Kiwis surveyed admit they would have no idea what to do if their identity was stolen Norton, a leading consumer Cyber Safety brand of Gen, today announced the New Zealand launch of Norton™ 360 Platinum, which leverages the company's ...21 hours ago
- Throwing voting-age legislation onto the ‘policy bonfire’ only delays a debate that has to happe...Source: The Conversation (Au and NZ) – By Claire Breen, Professor of Law, University of Waikato Getty Images There might have been pragmatic political reasons behind the government throwing voting-age legislation onto its recent policy bonfire, but it remains a sadly wasted opportunity. The announcement reversed former ...21 hours ago
- Does public safety trump free speech? History’s case for banning anti-trans activist Posie Parker ...ANALYSIS: By Bevin Veale, Massey University The impending arrival of Kelly-Jean Keen-Minshull — aka Posie Parker — has put the spotlight on the tension between free speech and protecting vulnerable communities in Aotearoa New Zealand. In particular, it raises questions about Immigration New Zealand’s role in limiting who can visit ...21 hours ago
- Iwi Leading Urgent Housing Rebuild And Managed Retreat For WairoaWairoa has ready-to-go projects that could be accelerated to quickly get people back into homes following Cyclone Gabrielle, Minister Willie Jackson was told on a visit to Wairoa today. Tātau Tātau o Te Wairoa is seeking a Government commitment ...21 hours ago
- New Report: City Rail Link Project Throws Good Money After BadA new report published by the New Zealand Taxpayers’ Union exposes the bad decision-making that led to a 61% cost blowout in Auckland’s City Rail Link and shows that the costs of the project now significantly outweigh any benefits. ‘The City Rail Link: ...21 hours ago
- Immigration NZ allows anti-trans speaker into NZImmigration NZ has today confirmed that the controversial anti-trans campaigner Kellie-Jay Keen-Minshull will be allowed into New Zealand for her speaking events this week. You can read our report here – and the full statement from Immigration NZ’s Richard Owen to the media is below: “I can confirm that ...21 hours ago
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Enough of interest.
Debt providers can take an equity stake from now on. As is done in other societies.
“which could prompt a selloff of the New Zealand dollar by currency traders.”
Isn’t this actually what we want? The NZ$ should be more like 60 US cents, not 70.
A very good reason for there to be as Keynes long ago suggested an international currency clearing house as opposed to a speculative market. What we actually need is an end to the whims and desires of a speculative bunch of financial types who set up the market to act as parasites.
Neo-liberalism,Reaganism, Rogernomics, Wodneyism, Jonkeyism, call it what you will has made a virtue of profit by speculation rather than creating real industry and wealth. Example? US stock holders made a mint offshoring their production to China ; dirt cheap wages boosted Company profits skywards everything great! in the Dow index, but an underclass of 40,000,000 Americans now exist on food stamps.( Also 50,000,000 Americans die from treatable conditions every year because corporate medicine doesn’t think they can pay to be saved!) The Casino made a mint by exploiting their own people!! Look at our news stock prices, like a casino going up and down figure prominently divorced from the reality on the ground. Eventually the Jonkeys and Wodneys move into their cloud cuckoo worlds permanently separated from the real world until the empty shell of the economy,as in the US, leached by the free marketeers collapses! Money must be tied to real work not monopoly exploitation ie: if you’re rich you can get richer! Do you want an asian style society of very rich and beggars on the street? That’s the choice ,we move forward together or we fall apart!
Lol 50 million people die in America each year?
At least 50 mill, could be closer to 75 mill p.a.
I’m moving over there next year as there will be no one left in Wyoming so can claim it under squatters’ rights 😆
Could you grab Colorado and Tennessee for me please.
The mortality for the US is more like 2.5 million per year
Number of deaths: 2,423,712(2008)
Death rate: 803.6 deaths per 100,000 population
Life expectancy: 77.9 years
Infant Mortality rate: 6.75 deaths per 1,000 live births
Number of deaths for leading causes of death:
Heart disease: 616,067
Cancer: 562,875
Stroke (cerebrovascular diseases): 135,952
Chronic lower respiratory diseases: 127,924
Accidents (unintentional injuries): 123,706
Alzheimer’s disease: 74,632
Diabetes: 71,382
Influenza and Pneumonia: 52,717
Nephritis, nephrotic syndrome, and nephrosis: 46,448
Septicemia: 34,828
http://www.cdc.gov/nchs/fastats/deaths.htm
The current population will take 78 years to all die off ( as an average)
Dont count on getting Idaho any time soon, allthough if you arranged for the numbers for the smaller states to go first, you could have Idaho in about 3 months time
The banks alread expatraite billions per year, now they are telling us (possable after making a bet on what the OCR could do) that we are flush and well into a recovery.
After reviewing the retail sales stats, house sales, prices and the days that take to sell lenghtening by another 3-4 days,wage growth, our successful implementation of employment policies(!!!!!) the Res Bank govenor, if he does increase should enter the real world and not remain permanently within his office complex.
Why do we employ our top Civil servant to destroy NZs potential and screw those of us who fund his salary?
Sure he can hide behind the act, but does that not confirm Labs desire to widen what is currently the single focus of the Res Bank to protect us from the evils of the economy. How can we approach Aust economy when Bollard will just slash any recovery with high interest rates. So the masses and business pay for these high rates as money goes to Aust in the form of dividends. This is a race we cannot win.
http://www.westpac.co.nz/olcontent/olcontent.nsf/content/FM_Bulletin_20100723/$FILE/RBNZ_OCR_Preview.pdf
http://www.bnz.co.nz/binaries/w150710.pdf
I dont see how raising interest rates would mean that the financial sector would make more money. They would sell money at a higher price but they would also have to borrow it at a higher price. What matters for banks is their margin, there is no evidence that will change.
What can they do if there is a difference between our rates and other countries rates?
Is what they can do made more profitable if that gap is bigger?
If it is more profitable, will there be more of it?
Do they charge fees?
If raising interest rates assisted in inflation to start to increase, with the ability and ease to axcess capital then the continuation of borrowing and speculation would occur. Remember we are programmed to spend and oil the consumer machinery. Govts would be less inclined to remain within their financial restraints (They need to tempt us with treats as health care, 65 pensions etc. for a nike swoosh every 3 years) i.e we would be living beyond our means again. Then there is the ability for banks to distance themselves when the crap hits the fan again. This is the secret The Capitalise Profits…. blah blah.
Previously if there were rogue countries (e.g.Latin Americas) the consequences were limited to that countries sphere of influence, now with globalisation there is the domino effect. Of which I think we have not seen the 08 recession complete its course yet.
Otherwise how would banks contiue their earnings requirements if no one borrowed or consumed?
Dude, higher interest rates mean that hot speculative foreign money would pour into NZD. The banks would have a lot more to play with and would have more capital to lend out, more credit cards they could issue, etc.
All good profit making activity for the banks.