Posts on the economy, work, business, income, and labour
Rich investor and you put your money in a dodgy finance company? Did the company collapse? You get your money back. No questions. Lost your job thanks to this endless recession? Couldn’t afford insurance? Property damaged in the quake? Key says you can get stuffed. It’s called class war. Also, Key thinks the clean-up will be an economic stimulus. Someone tell this money-man about the broken windows fallacy.
Almost as an aside, Matt McCarten has announced that he has the “killing kind of cancer” in his column today. Matt is one of the lions of the Left. His union, Unite, has defied the skeptics to become a real success story. Temp and low-paid workers have found an avenue for collective action, and learnt they can win. Matt makes it clear he’ll never flinch from fighting for the workers. Good on ya, mate, we’re with you.
Where are the Greens and Labour on the South Canterbury Finance issue? Just looking at the sheer politics of the situation, this is something they should be all over. There is enormous public anger at the way National was willing to magic up $1.7 billion of taxpayer cash for its rich mates while services are being cut. This should be the tipping point, when the Left seizes the public mood for its economic vision but where’s the leadership?
Whatever flimsy and tattered remains of Labour-lite which National used to disguise itself at the 2008 election has well and truly disappeared. Thank […]
Due to the discrepancies in the spread of knowledge the free-market is irrational but there is no doubt that we, collectively, have the needed information to make more rational decisions. The problem that occurs is that neither the knowledge nor the tools to help make rational decisions on that information are readily available. Is there a tech solution?
20,000 more Kiwis’ jobs are at risk as commercial building construction grinds to a halt. The Greens have a plan to divert money from low-quality spending on motorways to high benefit to cost spending on housing that will save those jobs and give Kiwi families a better standard of living. That’s the kind of visionary economic leadership we need. We’re not going to get it from National.
According to Maurice Williamson, we’re all racist. Our concern with foreign investment has nothing to do with the economy, we just hate the Chinese.
Over the next few weeks the nats and other vested interests will try to muddy the waters over the SCF bailout.
This sophistry is designed to distract from the massive transfer of wealth from the many to the few.
And why shouldn’t they try this tactic? It worked for asset sales two and a half decades ago.
A few people have made a hell of a lot of money off the South Canterbury Finance collapse and bail-out. Are these the same people behind the mystery company that was created just three weeks ago and wants to buy SCF for $1.57 billion? Whether it’s been an organised plan or just lone sharks attracted by blood in the water, the result is the same: the rich win, we lose.
To find out who it is, click here.
Will this individual’s personal file be read out in Parliament by Paula Bennett?
Will this beneficiary’s sex life be investigated by WINZ as grounds for disqualification?
National don’t understand macroeconomics. As such they are inflicting massive and unnecessary harm, with high unemployment and a long time until recovery.
Many argue English should never have extended the deposit guarantee to South Canterbury Finance in April, or question whether the terms of the guarantee called for the pay-out. Then there’s the stink around the payment of SCF bonds. One thing’s for sure, the Nats didn’t need to spend $20 million on foreign depositors – they did it to try to kill the issue faster. Plenty of meat for Labour. Will they bite?
Bill English came pretty close to admitting that the Nats are “relaxed” about our current high unemployment. Phil Goff came out swinging…
Key says that teachers are “disconnected from the real world” for wanting a pay rise that will barely beat inflation. This from the same guy who promised higher wages. The same guy chucked half a billion dollars this year alone on the taxpayer credit card for tax cuts for the rich. The only people disconnected from the real world are those who think skimping on education and health will take this country forward.
Serious questions are being asked why South Canterbury Finance was allowed to join the extended retail deposit guarantee scheme in April given that its financial problems were well-known and its credit rating was downgraded just weeks later. Bill English says it was a ‘line call’, one that’s just cost us at least $600 million. It’s not the first ‘line call’ English has stuffed up.
Funny how quickly John Key and Bill English found that spare $1.7bn for wealthy investors after all that talk about how we should be tightening our belts.
It’s shows exactly where their priorities are.
The government is canning it’s already too-small and ill-directed Community Max programme. $40 million was a pathetic amount that created, at best, just 3,000 temporary jobs when quarter of a million Kiwis are jobless. And, due to lazy policy-making all the Key government probably ended up doing was subsidising jobs that would have been created anyway.
National’s big election promise in 2008 was to close the wage gap with Australia. They’re failing, as our wages fall behind theirs under National’s economic mismanagement and employer-centric policies.
But there are some who are doing better than others in the pay stakes:
Union members.
South Canterbury Finance is on the brink of collapse. The plan appears to be for the government to purchase the bad loans from the company at twice their book value, giving SCF the cash it needs to get back on its feet. That’s a dumb idea. The owners of SCF have taken huge profits in the good times, they can’t be allowed to pass their losses on to the rest of us now and continue as if nothing happened.
According to John Key, teachers who want to maintain reasonably class sizes and free flu vaccines are disconnected from the real world. That […]
The Herald’s top story today screams “Strikers’ Helpless Victims”.
But it turns out that staff have been suspended.
I guess that doesn’t fit the Herald’s class war perspective.
Not content with wrecking primary school education, Anne Tolley has bought herself an unnecessary fight with secondary teachers.
Bryan Walker at Hot Topic looks at the large scale renewable energy projects that are being developed in various countries around the world. The contrast with the dated approach to energy from Gerry Brownlee is quite striking. That has been described as “The Government’s energy strategy prioritises drilling and mining for more oil and coal, while providing virtually no stimulation for the development of renewable energy and clean technology. It … makes no attempt to set measurable emissions reduction targets.”
In a culture where the only heroes seem to be sports stars and comic book characters it’s important to remember those whose have fought for the rights of workers.
Earlier this month, one of these heroes, Jimmy Reid, died.
He is a man who passing should not go unmarked.
The Employment Relations Act Amendment (2) is coming… Be prepared to fight.
But also, be prepared to slip in an Amendment to the Amendment…
According to OIA papers released to the NZ Herald, Key’s plan to extend the 90 day “fire at will” law to all businesses is an ACT party takeover of government policy.
Minister of Labour Kate Wilkinson recommended against the extent of the plan. She was overruled by Cabinet in response to ACT threats. As Trevor Mallard said, if Key had any balls he would’ve stuck to his Minister’s advice.
It is time we got away from Mr Key’s focus on individual greed and got back to a focus on better hospital, schools and care for those who are struggling. David Clark argues that Key’s tax cuts are going to actually drive away our high-achievers while Mr Key is telling us it’s going to bring them home.
National know the first rule of government: never have an enquiry unless you know what it will say. The latest “Working Group” is […]
Heather Smith, the pharmacy worker who was sacked unfairly under the 90 day fire at will law and featured in a recent advert for the campaign has won a CTU-backed case against her employer in the Employment Court.
Bill English is going to play more number games today to claim wages are rising. Actually they’re falling, they’re going to keep falling, and there are 100,000 extra jobless. We deserve a Finance Minister who does his job, not one occupying himself with statistical chicanery.
Can income splitting be made to work? Funding people to stay at home with children isn’t such a bad idea…
Prime Minister John Key has credited his government’s economic policies for the price of fruit and vegetables falling by 6.5%. It’s clearly because of all those fruit and vegetable price reduction policies the government has introduced. In fact, the fruit price index is really only down 3.9% since November 2008 and vegetables are actually up 14.4%. But who are you going to believe?
Contrary to the sunny prognostications of Nice Mr Key, job queues are getting longer. How much more great economic management from John and Bill can the country stand?
Average number of people on the dole in the 21 months before Paula Bennett came to office – 22600
Average number of people on the dole in the 21 months since Paula Bennett came to office – 52200
Fiscal cost of extra people on the dole (welfare payments and lost tax) – approximately $1 billion
Money in this year’s budget for jobs initiatives – $31 million
It was only at the protest on the weekend that I learned about the Nats’ plan to make us get sick notes if we take a day off work for ourselves or to look after a sick family member. This would be an insult to workers and a huge waste of medical resources from a government that has no understanding of efficient use of scarce resources and thinks that workers are all scumbags who need a good kicking.
White collar crime is on the increase in NZ. The government talks tough and postures about crime in its other forms, how will it respond to white collar crime?
