Posts on the economy, work, business, income, and labour
Written By: - Date published: 7:08 pm, May 12th, 2014 - 9 comments
Labour looks at increasing jobs, wage growth, and having the government run surpluses. National looks at a 1% wage growth after inflation after years of falling real wages and no drop in real unemployment as being a sign of a healthy economy? Yeah right. Most of the growth in the economy is simply passing wage-earners by. It is going elsewhere. That is National’s legacy: strong growth for the fortunate few, lagging and insipid growth for everyone else
Written By: - Date published: 6:47 pm, May 12th, 2014 - 58 comments
No Right Turn shows that John Key has no real understanding of the economic and political history of this country. Probably because the last time another economic illiterate from National said that the prospect of reducing unemployment in NZ to below 6% was “a hoax”, John Key wasn’t here. He probably heard it from that illiterate, who once again is our minister of finance. Unemployment under Labour was as low as 3.3%
Written By: - Date published: 9:54 am, May 12th, 2014 - 21 comments
John Key’s government is cutting back on state housing, uprooting families from their homes. Large numbers of state houses are empty, while many are left to move from caravan park to sleeping in cars or outdoors. Weasel words from Paula Bennett and Nick Smith.
Written By: - Date published: 12:10 pm, May 9th, 2014 - 225 comments
Whether it’s Judith Collins, Michael Woodhouse or the Cabinet Club/s, National Party fundraisers, target the wealthy base they represent. In the process, boundaries are blurred between mainstream politics, exclusive private spaces & personal relationships.
Written By: - Date published: 8:51 am, May 8th, 2014 - 51 comments
Yesterday the global dairy trade auction was held. Prices are still going down as they have since Feburary. The rate of decrease was less than previous drops. Only 1.1% rather than the colossal drop on April 1st. Also yesterday Graeme Wheeler, the governor of the Reserve Bank did a speech about dairy which has provided some useful reading this morning.
Written By: - Date published: 12:32 pm, May 7th, 2014 - 41 comments
No Right Turn points out that depressing fact that “Still 42,000 (more) out of work under National”. Tories don’t really care until they have to pay taxes for the debt. But hey they voted themselves a tax cut in 2008 – so they’re still happy as the government debt levels keep blowing out to Muldoon levels. National economic management = stupid debt.
Written By: - Date published: 10:56 am, May 7th, 2014 - 17 comments
We still don’t know why Joyce is pushing on with the move to shut Invermay, Dunedin’s impressive AgResearch centre, but it’s still not too late to stop him and the AgResearch board. Last week, one of the biggest breeds of sheep, Texel breeders voted no confidence in the AgResearch board. The petition continues to grow. Dunedin is […]
Written By: - Date published: 11:11 am, May 5th, 2014 - 33 comments
Rob Salmond at Polity just saved me from having to write something like this post explaining economic basics to Steven Joyce. Joyce demonstrated again why his tenure at MoBIE has been a failure for the overall economy. He fixates on one thing like the business selling milk powder to the exclusion of the overall picture. In part that is why we have neither expanding innovation or employment in our economy at present. He is a good tactical politician. But he is a fool on strategy.
Written By: - Date published: 7:24 am, May 4th, 2014 - 27 comments
An NZ Herald article about Mai Chen’s book on Auckland Council, supports big power, big money, big competition, and economic activities focused on anything but the production of material needs and wants. It ignores the struggling precariat living with housing, income, transport and energy poverty.
Written By: - Date published: 2:32 pm, May 2nd, 2014 - 105 comments
The response to Labour’s Monetary Policy upgrade has been overall very good and it has dominated the policy debate at the same time as a series of scandals start to circle around the National Party.
Written By: - Date published: 9:23 am, May 2nd, 2014 - 86 comments
Too many MPs in the NAct government, & some journalists, fail to understand that the negative impacts of the infiltration into politics of the worst ethos of big business & big money: croynism, networks of power & influence, self-serving, buddy-supporting actions, & deceptive manipulations of public relations.
Written By: - Date published: 1:54 pm, April 30th, 2014 - 29 comments
Distribution – who pays, who gets what – is one of (or perhaps the) key question in politics. It is the big problem with Labour’s new monetary policy. We’ve all seen how the theoretical ability to compensate the losers of policies which produce net gains tends to be forgotten in practice. Which means that the acceptability of the policy is going to depend crucially on whether Labour follows through on this promise.
Written By: - Date published: 10:54 am, April 30th, 2014 - 77 comments
Manufacturing exports dropped by 3.3% over the last year. Manufacturing businesses and their jobs disappeared with them. Meanwhile the National MP’s with dairy farms and interests will today be proclaiming a buoyant economy based on them selling barely processed milk-powder to China. It is good for them but as they gut the manufacturing jobs few other kiwis will reap any benefits.
Written By: - Date published: 9:47 am, April 30th, 2014 - 12 comments
Largely overlooked yesterday, the Green Party launched their “Conservation in Our Backyards” policy. Focusing on protecting New Zealand’s socially and environmentally rich biodiversity, it provides a means to act locally in countering the current track towards global social, environmental and economic destruction.
Written By: - Date published: 8:56 am, April 30th, 2014 - 50 comments
There is a major new economics tome out this year that’s sending waves through the economics community like none since Friedman in the 70s. It’s Thomas Piketty’s Capital in the Twenty-First Century.
It points out that under capitalism, we’re doomed to inequality.
Written By: - Date published: 1:14 pm, April 29th, 2014 - 32 comments
The head of the reanimated corpse of Brash should now be spinning furiously along with those fools from ACT who are into simplicity (because they can’t handle the real world). However having the Reserve Bank looking the balance of payments is pretty good. It includes the exchange rate and the export economy. They’re effectively now concerned with the exterior economy with a enforced savings tool as well as the interest rates. The government becomes largely responsible for the structural rigidities we have built up in the internal economy. That is a pretty good mix. Might have to train the MPs a bit though.
Written By: - Date published: 9:49 am, April 29th, 2014 - 58 comments
Out of sight-out of mind seems to be the logic of Auckland City’s bylaw to come into effect next month, to outlaw begging on the streets. The clear message from Native Affairs report, ‘Walk on By‘, last night, is that the bylaw is the result of pressure from the comfortable middle classes. [Update: bylaw only says it’s an offence where begging causes a nuisance]
Written By: - Date published: 9:02 am, April 29th, 2014 - 169 comments
David Parker’s speech notes announcing Labour’s proposed changes to the Reserve Bank.
Written By: - Date published: 8:17 am, April 28th, 2014 - 15 comments
The deaths of forestry workers are outrageous & sad. Helen Kelly has campaigned extremely well for change. An international day of remembrance yesterday, a procession on parliament today – a belated govt Bill that is an improvement, but does not go far enough.
Written By: - Date published: 8:31 am, April 27th, 2014 - 41 comments
The strength of the left: working together…. from the flaxroots. I agree with the parts of David Cunliffe’s speech to Young Labour where he talks of the importance of working together and mobilising the grass roots left in order to win the election. He is speaking about the Labour Party, but his words are equally true for the wider left
Written By: - Date published: 11:41 am, April 26th, 2014 - 108 comments
Karol has already mentioned this in her post from this morning. But in the interests of splitting milk from alcohol…
Written By: - Date published: 8:08 am, April 26th, 2014 - 79 comments
As interest rates crank up in debt-laden NZ, we’re about to reap the consequences of 5 years of do-nothing, anti-worker, National government.
Written By: - Date published: 7:56 am, April 25th, 2014 - 54 comments
Phil Twyford has exposed the government’s asset-stripping approach to running down state housing, while favouring of private & overseas entities. The Greens & Mana have strong policies for increasing the amount of state housing. Still waiting for a commitment from Labour.
Written By: - Date published: 10:20 am, April 23rd, 2014 - 115 comments
Labour has swung positively behind the change from Jones to Kelvin Davis. In his interview on TV3’s First Line this morning, Davis was confident, down-to-earth, & energetic. Hone Harawira & Davis are strong candidates for Te Tai Tokerau and those struggling on low incomes. Both would be assets for a Labour-led government.
Written By: - Date published: 8:28 am, April 22nd, 2014 - 28 comments
A NZer in Britain and a Briton in NZ – 2 CEOs complaining they get paid too much. And science shows the US is ruled by a bunch of oligs.
Written By: - Date published: 9:15 am, April 21st, 2014 - 14 comments
Greed used to be regarded as a major sin. Now it is often seen as either trivial, or, in Gordon Gekko’s words, “Greed is good”. Greed has become a religion, focused on the sacred “economy” and its “market” of (allegedly) “invisible hands”. Greed fuels inequality and undermines democracy. Democracy needs a more critical public sphere and media.
Written By: - Date published: 9:01 am, April 20th, 2014 - 41 comments
On Al Jazeera NewsHour this morning, there were two reports on environmental issues in different parts of the planet: stories of the tension between pursuit of economic “growth” and the destruction of the environment. In both countries, there are attempts to develop renewables, without changing the whole system.
Written By: - Date published: 11:37 am, April 18th, 2014 - 10 comments
This is very good stuff. Having a tax break for R&D work has always been a no-brainer, and it is great to see it reconfirmed. Adding an accelerated depreciation scheme for new plant is a helpful addition. And partnering with more local firms for more locally-sourced government procurement makes perfect sense, too. Another no brainer for parties – like Labour – that actually care about local employment.
Written By: - Date published: 7:00 pm, April 17th, 2014 - 24 comments
That’s how much National gave away today, by setting the price too low on Genesis. They were scared that they couldn’t attract enough buyers and it would be clear how unpopular their policy is, but they made it enough of a lolly-scramble that the few percent at the top who can afford it, couldn’t resist. […]
Written By: - Date published: 10:56 am, April 17th, 2014 - 72 comments
Genesis Energy’s shares have been sold at a price well below their value. And despite considerable demand from local mum and dad investors one in four of the shares has been sold to overseas institutions.
Written By: - Date published: 5:30 pm, April 14th, 2014 - 64 comments
This article in the Herald gave me a giggle today. It refers to a cash payment being made to Parliamentary Services staff who are part of their workplace collective employment agreement. Similar cash payments have been denounced by National in the past – when it happened under Labour – and are being denounced by Don […]
Recent Comments