Economic commentators are now openly speculating about "the D-word" - Depression. Even our own Treasury are in on the act: Eurozone 'depression' possible - Treasury The head of Treasury, the Government's chief economic adviser has gone where few others dare to venture. He used the…
John Key's days are numbered. His personal popularity is falling. His brand is tied to unpopular asset sales and a pokies for convention centre deal that is now subject to an Auditor-General investigation. He's not winning the next election. So a change of leader is…
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So the Asset Sales Bill will be back in Parliament for its second reading tomorrow. It's a further abrogation of due procress, as it comes back 5 weeks early, curtailing proper scrutiny. National, by wait of select committee numbers, ended deliberations after only one hour,…
Can this year get any worse for Key? I'm starting to feel sorry for the guy. In latest news: Auditor-General to probe Sky City deal The Government's controversial deal with SkyCity casinos for a $350m national convention centre will be investigated by the auditor-general's office.…
Another housing bubble. Just what we need. House prices up 5.4% in a year, 7.8% in Auckland. Inflation is 1.6%. Billions are being funneled into housing by banks who can make a buck off importing cheap credit from offshore and lend it to homebuyers here.…
We should remember to celebrate our victories, and yesterday was a day full of them. First, there was the announcement of a settlement in the Oceania rest-home dispute - the workers held out and got the additional government funding passed on as they should. This…
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National have not had a great year, but the class size fiasco last week has raised the bar on their awful. Worse: the nice man Mr Shearer first raised their stupidity on class sizes, and their poll ratings have dropped noticeably. So it's time to…
Announced this morning before Question Time in Parliament that John Judge will be replaced as Chair of ACC on a temporary basis by Paula Rebstock. Judge is going to chair the ANZNational Bank; Rebstock has been chairing the advisory body to WINZ. It will be…
NRT on the situation in Canterbury: When the government dismissed the elected councillors of Environment Canterbury, suspended elections, and replaced them with a clique of unelected dictators, they assured us that it was only a temporary measure. Once ECan's internal administrative divisions were resolved, elections would…
People are driving less because of high fuel prices. That means less road tax for the government - a $120m shortfall in the last two years -, which pays for the transport budget. The biggest slice of the transport budget - the uneconomic roads of…
Times are tight, right? You've probably been told that when your boss says you can't have a pay rise that keeps up with inflation. Yeah, well. It seems that doesn't apply to managers. The largest jump in median weekly income has been for managers -…
Parents and teachers are calling for Key to apologise over the stress and anxiety that his government has caused them over the last 2 weeks. Want to guess how Key handled it? The Prime Minister is refusing to apologise to parents and teachers over the…
John Key doesn't stand for anything in particular. He prefers political expediency, being popular, not scaring the focus groups too much. He is so ill defined that, famously, he "can't remember" his position on the defining political event of his youth, the 1981 Springbok Tour.…
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Scott at Imperator Fish has kindly given us permission to syndicate posts from his blog – the original of this post is here. The Sun will continue to shine New Zealand has been enjoying a long period of uninterrupted sunlight, and this looks likely to continue until at…
When Righties say we can't afford to support solo mums, what do they think we can afford instead? Cost of DPB for the 3,000 teenage solo mums and their kids: $50 million Cost of tax cuts for the top 1% of earners under National: $600…
Sharples and Turia remind me of an old couple running the family store with no kids to pass it on to. They want to retire. If they do, that'll be curtains for everything they've built. Without them, the Maori Party goes to a well deserved…
National flip-flopped on increasing class sizes, not because it was a bad policy but because the pressure came on and the polling showed the public was strongly against it. With over 75,000 people having signed the petition to have a referendum on asset sales already…
No need to get too excited about polls, especially more than two years out from the election, but the last three have all been good for the Left. The Roy Morgan on 18th May had National down 2.5% to 44.5%, Labour up 1.5% to 30%…
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The Prime Minister chairs Cabinet. The Budget is signed off, policy by policy, by Cabinet. Any competent Prime Minister would be intimately familiar with the major policy changes well before they even get to Cabinet. So, it was very interesting to see Audrey Young's 'insider'…
I have never been prouder of NZ than I was when we went Nuclear Free. We put principle ahead of profit, we stood up to some heavy diplomatic pressure, and we spoke our piece to the world. Lange in the Oxford Union debate - magnificent…
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Before the captions, some serious analysis, because this new Nat promo photo really astounds me.I honestly don't know what the Nats were thinking. It might work if Key were a nationally-adored figure, a kindly uncle, who had delivered a golden age for the country (fat-arse…
The Nats' agenda. You don't usually see it stated as succinctly as this: While middle New Zealand buys the idea of Budget surplus, it seems less keen to make the necessary sacrifices to achieve it. English can only suck so much by way of savings…
Most economists seem to be stuck in an an orthodoxy rut, leading many to wonder why we take economists so seriously: Why all this panic, though? Aren't economists in charge of it all? Yes. And this is the problem. These highly skilled people carry on,…