They got bailed out and we got sold out

Written By: - Date published: 12:05 pm, September 15th, 2018 - 56 comments
Categories: business, capitalism, class war, Economy, uk politics - Tags:

This column from Ros Wynne Jones in the Daily Mirror deserves linking to and repeating.  It is that damn good.  It is about the response in the UK to the global financial crisis and details how they missed a chance to put through proper reform of the banking system.

Her level of contempt clearly maxed out when she wrote this.  I can imagine her fingers pounding angrily and quickly on the keyboards of her laptop as she sought to capture the intense feelings the subject of her article generated.

She said this:

Ten years after the banking crisis and these people show no remorse – the Lehman’s cocktail party-goers, the Bob Diamonds and the Fred the Shreds.

Today, Diamond – the former Barclays boss and banking’s chief buccaneer until the banks blew up like a game of Buckaroo – marked the anniversary by feeling sorry for himself.

“The culture of banking now,” sighed the man forced to resign at the height of the Libor-rigging scandal in 2012, “is that if anyone makes a mistake they get fined.”

The collapse of Lehman Brothers on September 15, 2008, unleashed the worst global downturn since the Great Depression. But apparently banks have done enough penance.

Diamond says it’s time to let “banks be banks” again.

Can you imagine the level of venom dripping from her as she typed and processed that thought?

She then said:

His words should still stick in the throat of almost every single person in the country – 99.9% of us – who have lost out because of bankers being bankers.

Then came the kicker.  The reality of what has changed since the GFC for the banks and for the rest of us.

This week, the campaign 10 Years On introduced website whatamiowed.org, which tells you exactly how much you personally lost in the financial crisis.

The campaign points out that since 2010, the Government has slashed almost £50billion from public services – and over £30bn more from social welfare.

It adds: “By comparison, the Big Four UK banks have paid out over £50bn in bonuses.”

The website whatamiowed.org has a very basic back engine that attempts to estimate what UK citizens have lost because of the need to bail out the banking system.  The backers of the site, 10 years on, are “working with a network of organisations to Change Finance: demanding a sustainable financial system where the banking sector first and foremost serves the best interests of people and the planet.”

It makes you wonder what the result would be in Aotearoa New Zealand if a similar calculation was made.  Our results were different, a number of third tier lenders went broke and took out millions of dollars from mainly retirees’ asset bases.  There was however the South Canterbury Finance payout where for reasons I still do not understand SCF was kept in the Bank Guarantee scheme, played fast and loose with loans and then was bailed out by the Government having to reward some pretty dodgy behaviour.

And there was the sell off of the power companies shares.  Last time I checked we had lost nearly as much as we had gained and the income was not coming our way any time soon.  Presumably by now we are in the red.

Fundamental reform of the world’s banking system is overdue.  But it seems clear that we have missed out on the chance to do so.

56 comments on “They got bailed out and we got sold out”

  1. alwyn 1

    “where for reasons I still do not understand”
    I suggest you should start your enquiry by asking Michael Cullen why he really thought he had to include SCF in the scheme.
    He must have had a bit better reason than he admits in this story.
    https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12124686
    The problem with SCF was putting them into the scheme in the first place. Once they were in there was no way to exclude them at a later date without causing their collapse.
    Why did Cullen allow them in at the start?

    • dV 1.1

      May be so Alwyn, BUT who allowed the extension of the scheme to SCF in 2010/11?

      Lets see Cullen, NO
      Ha Key and English!!

    • RedLogix 1.2

      I recall an interview with Kim Hill at the time; Cullen was very aware of the potential problems and was quite reluctant to extend the scheme too widely.

      I think he believed that including the these tertiary lenders was the lessor of the evils. Especially given all the media drama at the time.

      • Ad 1.2.1

        Exactly.
        Saving any financial institution generated moral hazard.
        SCF was that hazard.

        NZ Governments of both stripes have bailed out far bigger institutions in the past.

        • Muttonbird 1.2.1.1

          Bigger than $1Billion to a bunch of farmers? To an institution which in no way was crucial to the overall economy? Nor an international flagship with a reputation to defend.

          The leeches who got the taxpayer funds from low income families on the breadline then used the the proceeds for dairy intensification and a poisoning of the environment.

          Apart from Erebus, Cave Creek, and Pike River, that payout by Bingles was the darkest day in NZ’s history.

          Yet you two shrug.

          • Ad 1.2.1.1.1

            The taxpayer has bailed out the BNZ, Air New Zealand, Kiwibank through recapitalisation, developers of leaky homes, bunches of polytechs, and bunches of other entities in its history.

            In this case, it also saved Timaru and much of Canterbury from going down. You can compare that to the Wahine or the Tangiwai if you like.

            There’s always line calls in public subsidy that people have 20-20 hindsight over. SCF was one of them.

    • Draco T Bastard 1.3

      I suggest you should start your enquiry by asking Michael Cullen why he really thought he had to include SCF in the scheme.

      No, we have to ask Bill English and National. They’re the ones that kept SCF in the scheme despite knowing that they’d broken all the rules.

      Once they were in there was no way to exclude them at a later date without causing their collapse.

      Yes there was. They broke the rules of the scheme at which point they should have been removed. Treasury even advised it. Them collapsing isn’t anybody else’s problem.

    • KJT 1.4

      It wasn’t Cullen. It was National.

      Funny some insiders were telling me “Invest in SCF, you can’t lose”.

      Some people should have gone to jail over SCF, not Hubbard either.
      “Pump and dump” and insider trading with a government guaranteed profit.

      But. “New Zealand is not corrupt”.

    • mickysavage 1.5

      There were plenty of occasions where SCF should have been excluded from the scheme. Read any of a multitude of posts on this website for the how and why.

      Like this one:

      Key SCF excuses fall flat

      • alwyn 1.5.1

        The moment that the Government announced that SCF would NOT have remained in the scheme was the day it would have collapsed as everyone tried to withdraw their money.
        Keeping them in the scheme was, perhaps wishfully, trying to keep them solvent until they could get back on a level keel. Didn’t work and the prospect was rendered impossible by the founder’s business practices.

        Of course a lot of people took advantage of it. People do that sort of thing. Have you never been asked by a client about the ways of minimising their income tax?
        Look at all the MPs who belong to KiwiSaver schemes. When it started Cullen was at pains to try and argue that it wasn’t meant for people at their income levels. None of them took any notice except Joyce who never took advantage of the MP subsidy on Super. The only one I am aware of. It helped that he was pretty rich. The only problem the others are going to have is if they remain locked into the schemes when Robertson, as he is hinting of doing, starts specifying where they should be forced to invest.

        • KJT 1.5.1.1

          “Of course a lot of people took advantage of it. People do that sort of thing. Have you”..
          No. I refused as it was blatantly unethical. In many countries it is called “insider trading” and it is illegal.

          • alwyn 1.5.1.1.1

            There was no element of insider trading about it.
            The details of the scheme were widely published and there was nothing “secret” about it.
            Insider trading is only ever illegal if it is available to and known about by, a small group of people who are able to get this information only from someone who actually has access to what must be only available to “insiders”.
            The relevance of that scheme to SCF was widely known from the moment that they announced the companies on the list.

            I invested in KiwisSaver when it started even though I was retired, over 60 and was merely switching money from other investments. I had a friend who said she wasn’t going to go into the scheme because she thought it would be “unethical” and that it wasn’t meant for people like her.
            I told her that I thought the scheme itself was stupid and was merely an election bribe. It would have, as I would say has been proved, that it would have no genuine effect on the savings rates in New Zealand. Nevertheless it would be abject stupidity on her part not to join. Luckily for her, her Accountant agreed with my opinion and she did join. If someone is offering you money for jam then, in the absence of a David Clark desired “sugar tax” you are stupid not to indulge.

            • KJT 1.5.1.1.1.1

              Struck a nerve, did I.

              Nothing unethical about SCF being pumped up with insider investors, knowing that it was going to be bailed out including interest, long before any of the public knew?

              Yeah right!

              • In Vino

                I think alwyn is losing this one, and will therefore retreat to another thread.
                But I may be wrong..

                • alwyn

                  I think you are too stupid to actually be able to contribute to, or even understand this thread at all, but hey, half the population, like you, have below average IQ levels.

                  For KJT.
                  The public knew, at the time the guarantee list was published, and which included SCF that it would have its borrowing guaranteed, and that people who had loaned it money would be reimbursed.
                  The public, if they understood and read what the guarantee was, would have known just as much as the people who lent them money knew.
                  What part of the word guarantee don’t you understand?

                  Would I have included them in the original list? NO.
                  Once they were in would I have paid out on the guarantee? YES.
                  Anything else and the word of any New Zealand Government would be worthless.

                  • KJT

                    Is failure to read and comprehend a normal right wing trait?

                    Explains a lot.

                    • In Vino

                      alwyn is always punctilious about details that suit him, but does not appear to know when he is on a losing wicket. Well done KJT

                  • the other pat

                    I think you are too stupid to actually be able to contribute to, or even understand this thread at all, but hey, half the population, like you, have below average IQ levels…..wtf?……careful taking that step off your high horse…..seems a common trait with some of you here…..some DO NOT understand things straight away…..an old saying is that if your communication is is not understood then its you that have not communicated effectively.

            • Nic the NZer 1.5.1.1.1.2

              Kiwisaver can’t have any effect on NZ’s savings rate. That falls into the realms of the impossible thing (which didn’t happen).

              • alwyn

                KiwiSaver didn’t increase New Zealand Savings rate.
                True but that wasn’t how Sir Michael Cullen sold the proposal.

                • KJT

                  As usual a right winger takes a statistic which on the face of it seems correct, but if you drill down, you find they are basically, lying.

                  NZ savings rates were dropping, as people with no money tend not to save.

                  True, savings rates havn’t changed much since Kiwi saver stsrted. Saying Kiwi saver made no difference, which is what Alwyn is trying to say, is not accurate. Savings rate of decrease did change.

                  Much as I am against the privatisation of State super which is the real aim of Kiwisaver. Finance don’t get to cream off the top, of PAYGO, State provision.

                • Nic the NZer

                  Its not a matter of didn’t, its a matter of can’t.

                  If you net save your income then your expenditure falls by you additional saving. This then means someone else’s income falls by the amount you save. This chain of saving continues until somebody responds by reducing their saving, so in aggregate no net saving occurs.

                  The implications of this are as follows,
                  Including the public and private sectors together an increase in NZ’s savings rate is the same as an increase in the current account balance, and in reverse.
                  Looking at just the NZ private sector (because this is the sector which can go broke) the net savings rate is determined mostly by the inverse of the public net savings rate (plus current account as above). So while the government is running a surplus it is draining the potential for the private sector to net save, and in reverse for a deficit.

  2. roy cartland 2

    Here’s the link again (I got a 404):

    https://www.mirror.co.uk/news/politics/banking-crisis-ten-years-on-13239615

    [Thanks now fixed – MS]

    • Dennis Frank 2.1

      “10 Years On, a social justice collaboration involving Positive Money, Unite the Union, the Robin Hood Tax campaign, Stamp Out Poverty, Christian Aid, War on Want, Jubilee Debt campaign and others, are calling for an increased stamp duty on shares – and an end to “too big to fail” banking. It calls for a transition plan for the end of fossil fuels, break-up of the mega-banks starting with RBS, and measures to tackle household debt and branch closures.”

      Good so see that. Reminds us that the left, once upon a time, organised themselves into politically-effective networks, and changed the world for the better. I appreciate that this example in the UK signals that the time for being impotent complainers is over, and armchair critics ought to get involved in support.

  3. Dennis Frank 3

    MS: “Fundamental reform of the world’s banking system is overdue. But it seems clear that we have missed out on the chance to do so.”

    We actually never had the option you thought we had. Reform of the system is an option only available to those who own and operate it. Everyone else has this much leverage: zero. Since a decade has passed since QE saved the system, and since the consensus that it remains an effective stratefy is only slowly dissipating, it will take another gfc to trigger reform. We’re waiting for that.

  4. joe90 4

    Your Mirror link is jiggered.

    https://www.mirror.co.uk/news/politics/banking-crisis-ten-years-on-13239615

    [Thanks had a stray apostrophe at the end. Now fixed – MS]

  5. Bill 5

    Yeah Micky, liberal politicians played ball and threw us all under the bus to keep the banking system going – and then made it bigger than it ever was.

    Who gutted banking regulations again? Oh, that’s right, was a bi-partisan project…whether we’re talking the US, here or the UK.

    You want the banking system brought back into line? You want the interests of society put before bank interests? Better vote for a party with social democratic leanings then.

    Just one small problem on that front as far as New Zealand is concerned – NZ Labour, National and the Greens are wedded to liberal economic orthodoxy. The frightening bit is, they didn’t need to be “bought” as per the charge so often made in relation to the US. They go along on as willing dumb fucks. It’s called “ideological capture”, and unlike the UK or the US, the political party that might lead a government that espoused social democratic policies is in total fucking lock down and not going to be shifting its ground anytime soon, if at all

    Here’s Dylan Ratigan from 2011. The basic thrust of his message translates to NZ politics, NZ politicians, their shared economic ideology and the shite state of affairs we’re in.

  6. Tuppence Shrewsbury 6

    The real villains are the governments who believed any bank was “too big to fail” and therefore needed welfare.

    If banking isn’t the most stunning indictment of the notion of welfare in its modern form, I don’t know what will convince people it doesn’t help, nurture or change behaviour.

    They should have all collapsed, we would have had a once in 90 years type depression then all would have been ok for 40-50 years, until the cycle started properly again. Not this 10 yearly pump and dump short term economy led by public service spending.

    • BM 6.1

      The real villains are the politicians that were “convinced” any bank was “too big to fail” and therefore needed welfare.

      • corodale 6.1.1

        Should politicians take that as a death threat?

        • BM 6.1.1.1

          I wouldn’t say death threat, but politicians have a far too much leeway and really need to be reign in.

          Example, 3 billion dollars for Peters to buy a seat for NZ First, it’s fucking criminal.

          • corodale 6.1.1.1.1

            Yeah, you single out the only MP I know of who has publicly talked of Social Credit (Peoples Public Credit he calls it). With his political experience, he is like a Death Knight. Worms like you will gain no substance on his flesh. In the financial crash, he will rise and become legendary.

      • Nic the NZer 6.1.2

        Even if some financial institution was too big to allow it to fail politicians could still have taken the trouble to sack, replace and prosecute those responsible. That was always the real political malfeasance here.

      • KJT 6.1.3

        The real villains were the capitalists who bought the media and politicians. fixed it for you.

    • KJT 6.2

      Capitalism needed to be bailed out by “socialism” again!

      Ironic.

      • Tuppence Shrewsbury 6.2.1

        Bullshit. Capitalism would have been stronger without the socialist interference. Capitalism survives.

        Politicians saw a chance to exert more political control over the economy for “societies” benefit. So socialism. And look where we are now.

        Don’t get too misty eyed about socialism. You’re too old to see how it will ruin the next generation

        • KJT 6.2.1.1

          I can see why you have a problem with socialism. Your education by the “socialist State obviously failed you. Or were you one of those hopeless cases who know better than your Teachers?

          If you are so keen on capitalism go live in a pure capitalist State. Someone with your level of comprehension, would be living in a cardboard box on the street. Haiti, Honduras, Somalia, Russia, Appalachia, spring to mind.

          • Tuppence Shrewsbury 6.2.1.1.1

            The old “give thanks to your socialist education system”

            The one that’s failing the poor kids miserably no matter how much money is chucked at it.

            The one the capitalist kids do better at striving for their own success.

            I give thanks I only came out a little bit behind the private school kids because of my own ambition.

            • KJT 6.2.1.1.1.1

              I thought you were on the benefit. self hating wannabees seem to be the most rabid right wingers.

              • Tuppence Shrewsbury

                How quickly the defenders of socialism cave and start attacking the messenger!

                • KJT

                  Because you don’t have any sensible arguments to counter. just mindless slogans.

                  • Tuppence Shrewsbury

                    what mindless slogans? Those statements were assertions of fact. The education system is failing poor kids. Ambitious, self motivated achievers are doing very well despite the socialists nature of our public education system and it’s main practitioners, teachers and principles.

            • KJT 6.2.1.1.1.2

              Half starved, cold and stressed children don’t do well, no matter how good the education system.

              doing noticeably worse, since right wingers fucked with our education system, of course.

              • Tuppence Shrewsbury

                Doing worse ever since the teachers cared more about there union protecting their patch than the education of the children.

        • the other pat 6.2.1.2

          capitalism survives because we SOCIALISED all its fucking debts!!

  7. corodale 7

    If the banks need money, why doesn’t the Govt fund the banks by buying a share of the banks?

    Would truly be that easy, except the rating agencies and international banks would slash the value of our dollar and buy all our assets at a bargain prices.

    The banking cartel is truly insolvent. QE is pure corruption at the highest level. By law, yes law, a share of the banking cabal must be nationalised. Those responsible for QE belong in jail.

    • Ad 7.1

      Our government does not need to buy a share in Australian-dominated banks.

      We have Kiwibank. Founded and formed by the revious Labour government.

      When it needed recapitalising, ACC and NZSuper bought a major shareholding.

      If you want to break the cartel of Australian banks, shift your banking to Kiwibank.

      • mike 7.1.1

        there would be a bank run if deposit holders pull there money from these banks
        while i totally agree with you having pulled all my money from the anz i think its impossible on a mass scale because the authorities will close the bank doors. its a case of do it as an individual and well ahead of the train wreak.

        • Ad 7.1.1.1

          I’ll take it as a sign of actual confidence in the strength of Kiwibank when the government shifts its own banking overt its own bank.

          Meanwhile, their market share is small but growing, which is good enough for me.

    • KJT 7.2

      Just need to run state bank, like north Dakota.

      Small local competing private banks and co ops, under state bank are fine

      • mike 7.2.1

        credit unions are local and provide low cost basic banking there not flash and not having branches everywhere doesn’t matter with apps and online banking

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    There appears to be consensus – by omission – that the concept of indigenous futures should be accepted at face value. So I scavenged the internet to see if I could locate an academic descriptor or a framework around how we think about it as a concept, and whether it ...
    EllipsisterBy Ellipsister
    5 days ago
  • Cadbury rumoured to be releasing the Pineapple Trump
    Here’s another novelty chocolate to shove in your gob, New Zealand Cadbury could be seeking to make itself great again with a rumoured new release: Pineapple Trumps, a spin on its classic chocolate-encased pineapple treat and do-it-yourself tooth remover. The global confectionery manufacturer and bumbling “before” character in an infomercial, ...
    The CivilianBy admin
    5 days ago
  • The coming resource war.
    During my time in the Pentagon I had the privilege of sitting down with military leaders and defence and security officials from a variety of Latin American nations. Sometimes I was present as a subordinate assistant to a senior US defence department official, sometimes as part of a delegation that ...
    KiwipoliticoBy Pablo
    5 days ago
  • Māori Language Week with The Civilian
    Kia ora, Aotearoa. It’s that magical time of year. Te Wiki o te Reo Māori. In English, the week that frightens talk radio. As you probably know by now, all your favourite media outlets are participating, some more successfully than others. Stuff has changed its name to Puna for the ...
    The CivilianBy admin
    5 days ago
  • Will Horizons act on climate change?
    Local body elections are coming up next month. And it looks like all Palmerston North candidates for Horizons (the Manawatu-Whanganui Regional Council) want to take action on climate change:Climate change is set to be a key issue in Palmerston North for the next three years if those wanting to get ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • BORA reform is stalled
    Eighteen months ago, the government promised to strengthen the Bill of Rights Act, by explicitly affirming the power of the courts to issue declarations of inconsistency and requiring Parliament to formally respond to them. So how's that going? I was curious, so I asked for all advice about the proposal. ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Corbyn and Brexit
    As the Brexit saga staggers on, the focus is naturally enough on the Prime Minister and his attempts to achieve Brexit “do or die”. But the role played by the Leader of the Opposition is of almost equal interest and complexity. The first problem for Jeremy Corbyn is that he ...
    Bryan GouldBy Bryan Gould
    5 days ago
  • A ditch for him to die in
    Last week, English Prime Minister Boris Johnson boldly declared that he would rather die be dead in a ditch than delay Brexit. Unfortunately for him, the UK parliament accepted the challenge, and promptly dug one for him. The "rebellion bill" requires him to ask for and secure yet another temporary ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Warning! Warning! Danger Jacinda Ardern! Danger Marama Davidson! Warning!
    Lost In Political Space: The most important takeaway from this latest Labour sexual assault scandal, which (if I may paraphrase Nixon’s White House counsel’s, John Dean’s, infamous description of Watergate) is “growing like a cancer” on the premiership, is the Labour Party organisation’s extraordinary professional paralysis in the face of ...
    6 days ago
  • Union solidarity with Ihumatao land occupation
    by Daphna Whitmore Every Sunday for the past two months unionists from First Union, with supporters from other unions, have set out to the Ihumatao land protest, put up gazebos and gas barbeques, and cooked food for a few hundred locals and supporters who have come from across the country. ...
    RedlineBy Daphna
    6 days ago
  • Climate Change: The wrong kind of trees?
    Newsroom today has an excellent, in-depth article on pine trees as carbon sinks. The TL;DR is that pine is really good at soaking up carbon, but people prefer far-less efficient native forests instead. Which is understandable, but there's two problems: firstly, we've pissed about so long on this problem that ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • No freedom of speech in Turkey
    Canan Kaftancioglu is a Turkish politician and member of the opposition Republican People's Party (CHP). Like most modern politicians, she tweets, and uses the platform to criticise the Turkish government. She has criticised them over the death of a 14-year-old boy who was hit by a tear gas grenade during ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Speaker: Tadhg Stopford: Why I’m standing for the ADHB
    Hi there, just call me Tim.We face tough problems, and I’d like to help, because there are solutions.An Auckand District Health Board member has nominated me for as a candidate for the ADHB, because her MS-related pain and fatigue is reduced with hemp products from Rotorua.  Nothing else helped her. If I ...
    6 days ago
  • Good little vassals
    The Inspector-General of Intelligence and Security has published their report on whether the SIS and GCSB had any complicity in American torture. And its damning. The pull quote is this:The Inquiry found both agencies, but to a much greater degree, the NZSIS, received many intelligence reports obtained from detainees who, ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Who Shall We Turn To When God, And Uncle Sam, Cease To Defend New Zealand?
    Bewhiskered Cassandra? Professor Hugh White’s chilling suggestion, advanced to select collections of academic, military and diplomatic Kiwi experts over the course of the past week, is that the assumptions upon which Australia and New Zealand have built their foreign affairs and defence policies for practically their entire histories – are ...
    6 days ago
  • The Politics of Opposition
    For most of the time I was a British MP, my party was out of government – these were the Thatcher years, when it was hard for anyone else to get a look-in. As a front-bencher and shadow minister, I became familiar with the strategies required in a parliamentary democracy ...
    Bryan GouldBy Bryan Gould
    6 days ago
  • More expert comments on the Canadian fluoride-IQ paper
    The Green et al (2019) fluoride/IQ is certainly controversial – as would be expected from its subject (see If at first you don’t succeed . . . statistical manipulation might help and Politics of science – making a silk purse out of a sow’s ear). Anti-fluoride campaigners have been actively promoting it ...
    1 week ago
  • The return to guerrilla war in Colombia
    by Gearóid Ó Loingsigh On August 29th a video in which veteran FARC (Revolutionary Armed Forces of Colombia) commander Iván Márquez announced that they had taken up arms again was released. There was no delay in the reaction to it, from longtime Liberal Party figure and former president Uribe, for ...
    RedlineBy Admin
    1 week ago
  • Air New Zealand identifies this enormous plot of unused land as possible second airport site
    Air New Zealand couldn’t believe its luck that this seemingly ideal piece of real estate had so far gone entirely unnoticed. Air New Zealand’s search for a site to build a second Auckland Airport may have made a breakthrough this afternoon, after employees scanning Google satellite imagery spotted a huge, ...
    The CivilianBy admin
    1 week ago
  • Redline on the Labour Party
    No-one on the anti-capitalist left in this country today puts forward a case that Labour is on the side of the working class.  There are certainly people who call themselves ‘socialist’ who do, but they are essentially liberals with vested interests in Labourism – often for career reasons. Nevertheless, there ...
    RedlineBy Admin
    1 week ago
  • New Fisk
    No Right TurnBy Idiot/Savant
    1 week ago
  • Labour’s failure
    When National was in government and fucking over the poor for the benefit of the rich, foodbanks were a growth industry. And now Labour is in charge, nothing has changed: A huge demand for emergency food parcels means the Auckland City Mission is struggling to prepare for the impending arrival ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Ardern attempts to vaccinate Clarke Gayford live on television to prove that it’s safe
    Gayford, pictured here on The Project, before things got wildly out of control. A bold public relations move by the Government to encourage parents to vaccinate their children has gone horribly wrong. Prime Minister Jacinda Ardern appeared on tonight’s episode of Three’s The Project, where the plan was for her ...
    The CivilianBy admin
    1 week ago
  • Has Mr. Whippy gone too far by parking on our front lawns?
    Mr. Whippy’s business model has driven it down a dark road of intimidation. Residents in major centres around the country are becoming disgruntled by the increasingly aggressive actions of purported ice cream company Mr. Whippy, who have taken to parking on people’s front lawns and doorsteps in a desperate attempt ...
    The CivilianBy admin
    1 week ago
  • Cleaning up the water
    Today the government released its Action Plan for Healthy Waterways, aimed at cleaning up our lakes and rivers. Its actually quite good. There will be protection for wetlands, better standards for swimming spots, a requirement for continuous improvement, and better standards for wastewater and stormwater. But most importantly, there's a ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Fronting up
    Today I appeared before the Environment Committee to give an oral submission on the Zero Carbon Bill. Over 1,500 people have asked to appear in person, so they've divided into subcommittees and are off touring the country, giving people a five minute slot each. The other submitters were a mixed ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Politics of science – making a silk purse out of a sow’s ear
    Anti-fluoride activists have some wealthy backers – they are erecting billboards misrepresenting the Canadian study on many New Zealand cities – and local authorities are ordering their removal because of their scaremongering. Many New Zealanders ...
    1 week ago
  • Democracy – I Don’t Think So
    So, those who “know best” have again done their worst. While constantly claiming to be the guardians of democracy and the constitution, and respecters of the 2016 referendum result, diehard Remainers (who have never brought themselves to believe that their advice could have been rejected) have striven might and main ...
    Bryan GouldBy Bryan Gould
    1 week ago
  • Government says it will now build just one really nice home
    Following publication of this article, the Ministry has requested it to be noted that this supplied image is not necessarily representative of what the final house will look like, and it “probably won’t be that nice.” As part of today’s long-anticipated reset of the Government’s flagship KiwiBuild policy, Housing Minister ...
    The CivilianBy admin
    2 weeks ago
  • Imperialism and your cup of coffee
    Over the next week or two we will be running three synopses of parts of the opening chapter of John Smith’s Imperialism in the 21st Century (New York, Monthly Review Press, 2016).  The synopsis and commentary below is written by Phil Duncan. Marx began Capital not with a sweeping historical ...
    RedlineBy Admin
    2 weeks ago
  • Still juking the stats
    The State Services Commission and Ombudsman have released another batch of OIA statistics, covering the last six months. Request volumes are up, and the core public service is generally handling them within the legal timeframe, though this may be because they've learned to extend rather than just ignore things. And ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Hard News: Time for a New Deal: 25 years on
    In 1994, I was editing an ambitious street mag called Planet, from a fabled office at at 309 Karangahape Road. The thirteenth issue of the magazine was published in the winter of that year and its cover embodied a particularly ambitious goal: the end of cannabis prohibition.I wanted to do ...
    2 weeks ago
  • Not impressed
    KiwiBuild was one of the Ardern government's core policies. The government would end the housing crisis and make housing affordable again by building 100,000 new homes. Of course, it didn't work out like that: targets weren't met, the houses they did build were in the wrong place, and the whole ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Solar beats coal
    As the climate crisis escalates, it is now obvious that we need to radically decarbonise our economy. The good news is that its looking easy and profitable for the energy sector. Wind is already cheaper than fossil fuels, and now solar is too:The levellised cost of solar PV has fallen ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • A Step Too Far.
    A Crown Asset? For reasons relating to its own political convenience, the Crown pretends to believe that “No one owns the water.” To say otherwise would re-vivify the promises contained in the Treaty of Waitangi – most particularly those pertaining to the power of the chiefs and their proprietary rights ...
    2 weeks ago
  • Where Money Comes From
    Most people would say, no doubt, that they have a pretty good idea of what money is. They live with the reality of money every day. It is what is needed to buy the necessities of life and to maintain a decent standard of living. You get money, they would ...
    Bryan GouldBy Bryan Gould
    2 weeks ago
  • Banned by the Green Party leadership: Jill Abigail on women’s rights and trans rights
    The article below was an opinion piece that appeared in the Spring 2019 issue of Te Awa (the NZ Green Party’s newsletter) and on the Greens website.  In keeping with their policy of hostility to women defending women’s right to female-only spaces, Green bureaucrats have since removed the opinion piece.  ...
    RedlineBy Admin
    2 weeks ago
  • The fallacy of the proximity argument.
    Longer term readers may remember my complaining that, as a political scientist, it is burdensome to have non-political scientists wanting to engage me about politics. No layperson would think to approach an astrophysicist and lecture him/her on the finer details of quarks and black holes, but everybody with an opinion ...
    KiwipoliticoBy Pablo
    2 weeks ago
  • Where We Stood: Chris Trotter Replies To Stevan Eldred-Grigg.
    Joining The Fight: Stevan Eldred-Grigg's argument for New Zealand staying out of the Second World War fails not only on the hard-headed grounds of preserving the country’s strategic and economic interests; and not just on the soft-hearted grounds of duty and loyalty to the nation that had given New Zealand ...
    2 weeks ago
  • Universities back the climate strike
    On September 27, School Strike 4 Climate will be striking for a future to pressure the government for meaningful climate action. This time, they've asked adults to join them. And now, Lincoln University and Victoria University of Wellington have signed on:Victoria University of Wellington has joined Lincoln University in endorsing ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Another constitutional outrage
    Another day, another constitutional outrage in the UK. This time, the government is saying that if parliament passes a law to stop Brexit before being prorogued, they may just ignore it:A senior cabinet minister has suggested Boris Johnson could defy legislation to prevent a no-deal Brexit if it is forced ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Ending dairy in Canterbury
    Environment Canterbury has finally proposed nitrogen limits to stop dairy farmers from poisoning Christchurch's water supply. And naturally, farmers are whining about it:A proposed move by Environment Canterbury (ECan) to protect Christchurch's drinking water by setting tough – some would say, draconian – nitrate reductions in the decades ahead and ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Is National the party of climate arson?
    The Zero Carbon Bill is currently before select committee. While its targets are weak, its a generally sensible bill that promises to establish a long-term framework to guide emissions reductions. But National hasn't made up its mind on whether it will support it - and according to Andrea Vance in ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Experts warn Harold the Giraffe “well past” typical giraffe life expectancy, may not have long
    Dum-de-doo. Children across New Zealand have known him for generations as the lovable giraffe who tells them to exercise, hydrate and not to shove lit cigarettes up their nostrils. But a world renowned giraffe expert says we shouldn’t be getting attached to Life Education’s Harold the Giraffe, as he is ...
    The CivilianBy admin
    2 weeks ago
  • August ’19 – NZ blogs sitemeter ranking
    Image credit: 22 BLOGGERS WITH ADVICE FOR RESEARCHERS AND EVALUATORS, ILLUSTRATED I notice a few regulars no longer allow public access to the site counters. This may happen accidentally when the blog format is altered. If your ...
    2 weeks ago
  • Bye, bye to the collusion lie
    Sums it up, really. ...
    2 weeks ago
  • Opinion: Treat your car by buying extra petrol to snack on while you aren’t driving
    By Mike Hosking. Yesterday morning, I waltzed into work, and as I walked past the drones aggressively typing out news on the computers I’ve repeatedly asked to be moved further away from, I caught a glimpse of the words “climate change”, and noticed that suspiciously they weren’t in condescending quotation ...
    The CivilianBy admin
    2 weeks ago

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