Posts on the economy, work, business, income, and labour
Written By: - Date published: 9:15 am, January 15th, 2011 - 115 comments
Like smiling and waving, frowning and looking sombre, is easy. But satisfying the expectations you create can be hard. This is where Key consistently fails. He has failed again over Pike River. The sudden and inadequately explained end to the recovery operation is bad enough. Lying about the promises he made is gravely insulting.
Written By: - Date published: 9:57 am, January 14th, 2011 - 75 comments
Sad news for Coasters. Recovery of bodies at Pike River abandoned. Key promised ‘whatever it takes’ to get them out. He’s breaking his word. He should front up and justify it. Instead, he’s hiding from the media.
Written By: - Date published: 10:16 pm, January 13th, 2011 - 65 comments
Another great piece of work from I/S at No Right Turn: “the Exclusive Brethren have set up their own KiwiSaver scheme… The scheme will only be offered to members of the cult. This is, of course, illegal.” They’re trying to take taxpayer money for a business that illegally discriminates on the grounds of religion. It must be stopped.
Written By: - Date published: 11:11 am, January 13th, 2011 - 35 comments
The CTU have launched the latest of their quirky and cute campaigns. Job Survivor Island illustrates the effects on real people of the boss being able to sack you without cause while you are denied legal redress. 1 in 5 workers are sacked under fire at will. Don’t become one of them, resist fire at […]
Written By: - Date published: 11:47 pm, January 12th, 2011 - 149 comments
The Great Depression saw the rise of rightwing reactionarism. Out of reactionary movements came fascist governments from Brazil to Romania. We had the 100,000-strong New Zealand Legion. The Great Recession is spawning a new wave of militant reactionarism, now reaching our shores.
Written By: - Date published: 1:26 pm, January 12th, 2011 - 45 comments
This year, as last year, we miss out on both Anzac and Waitangi days as holidays. And the Government refuses to do anything about it. Phil Goff and the EPMU back all workers getting their rightful public holidays like any other year – but John Key apparently doesn’t think it’s do-able, that it needs “research”.
Written By: - Date published: 12:20 pm, January 12th, 2011 - 22 comments
This post from the Oil Drum looks at how peak oil and the economy interact. From 2004 to 2008 oil prices rose and rose with demand. But high prices bought nearly no new oil to the market because it isn’t there. The prices broke the global economy, destroying demand. Now, prices are rising again and the weakened economies will topple much easier.
Written By: - Date published: 11:47 pm, January 11th, 2011 - 38 comments
Under the supposed rules of capitalism, investors take a “haircut” if an investment goes bad – no reward without risk. It’s also Economics 101 that giving relief to the ‘little people’ will have a more stimulating effect on the economy than if you bail out the wealthiest interests in society. But the powers that be are breaking the rules to aid the rich.
Written By: - Date published: 11:12 pm, January 10th, 2011 - 93 comments
No, this post isn’t about Smile and Wave’s failure to close the gap with Australia. It’s about the widening gap between the tiny elite in this country and the rest of us. Even before the Great Recession, 10% controlled more wealth than the rest of us combined. The housing market shows that their wealth is still rising while ours falls.
Written By: - Date published: 1:05 pm, January 10th, 2011 - 34 comments
Blinglish is confident that voters understand the economy and back the government’s (lack of) direction. In fact he better hope that voters don’t understand the economy, or notice National’s lack of help to an economy shedding jobs and headed into double-dip recession, or he won’t get voted back in.
Written By: - Date published: 7:30 am, January 8th, 2011 - 65 comments
Youth unemployment is 19.8%, but is there much coverage of a shockingly high number? That’s 1 in 5 young people Not in Employment, Education or Training (NEETs to the initiated); higher than the OECD average.
Written By: - Date published: 9:22 pm, January 6th, 2011 - 44 comments
I never, ever thought I would say this but there’s a very good article in Investigate this week. It’s about the Pike River disaster. With methane sensors in place, alarms should have gone off well before the gas reached combustible level. Investigate reveals the sensors may have been disabled by workers who would lose pay if they had to stop work.
Written By: - Date published: 6:22 am, January 6th, 2011 - 26 comments
When was the last time that John Key mentioned the ‘underclass’? In his Statement to Parliament at the start of last year – after Eddie called him out on never talking about the underclass – but he didn’t actually read that part of the statement. So, what has Key actually done for the underclass that he purported to care for so much? Nothing. He’s let poverty worsen.
Written By: - Date published: 10:00 am, January 5th, 2011 - 11 comments
In December, Dunedin City Council released its Peak Oil Vulnerability Analysis. We’re going to weather the peak oil age largely reliant on the built environment we already have in place – we can’t tear it all down and start again in time – but, the report shows there’s a lot we can do with the infrastructure we have to make it less oil-dependent.
Written By: - Date published: 8:33 pm, January 3rd, 2011 - 103 comments
The two significant things from the Herald interview: #1 The signalling by John Key of his willingness to step down. #2 The view of John Key that “essentially there is no money”. “There won’t be money for us and there won’t be money for Labour,” John Key. The significant thing about the first statement is, […]
Written By: - Date published: 5:50 pm, January 3rd, 2011 - 67 comments
I’ve been traveling around for Christmas/New Year’s. It hadn’t hit me until I drove about 1000kms around NZ just how much more expensive petrol has become. The extra cost is a shock when you fill up and it hurts the economy. I got wondering what the political impact is. The numbers suggest it matters a lot.
Written By: - Date published: 11:51 am, January 2nd, 2011 - 61 comments
Having a read of Fairfax’s 2011 political predictions, and their self-grading of their 2010 predictions, two things jumped out. The first is that Fairfax’s political staff have now wedded their reputations as political analysts to a National victory. The second is that they ignore the impact of the economy, and petrol prices in particular, on politics.
Written By: - Date published: 10:37 am, December 29th, 2010 - 14 comments
From the ‘I told you so’ file comes IrishBill’s first post on the Hobbit dispute after Jackson suddenly announced that a settled dispute with a small union was forcing Warner Bros to abandon a $100m investment and move overseas. We now know Jackson was lying to extort more money and a law change but Irish called it at the time, resulting in 516 comments – a record.
Written By: - Date published: 10:37 am, December 27th, 2010 - 36 comments
The idea of this little group-effort series of posts is to look at the major areas of government activity and have an objective look at how National is doing – both against their own promises and things that we hold important. Let’s start with the economy, the direct responsibility of Finance Minister Bill English and Economic Development Minister Gerry Brownlee.
Written By: - Date published: 4:29 pm, December 26th, 2010 - 20 comments
Chinese manufacturing and state support is transforming the cost structure of solar technology. This in turn is helping to put in power support for the emerging use of wireless technologies in the developing world. This helps to ensure that less dirty carbon emitting technologies are not used in the developing world.It is hard to see a downside to this state initiative because it makes solar tech cheaper and more available earlier rather than later.
Written By: - Date published: 10:21 am, December 25th, 2010 - 22 comments
So, it’s Christmas; the season of good will and all. But for some of our institutions, juggernauts of bad will that they are, they just roll on regardless . For what it’s worth there is an on line letter you can sign calling on the US to end it’s inhumane treatment of Bradley Manning. Maybe signing it constitutes a Christmas message of sorts.
Written By: - Date published: 10:07 am, December 25th, 2010 - 37 comments
Kiwis frequently like leading the world in the many ways that outmatch our ‘weight’. I wish we weren’t leading the world in this one.
We have one of the worst youth unemployment rates in the world as The Economist shows.
Written By: - Date published: 7:00 am, December 24th, 2010 - 95 comments
Say you run a large company. Say the manager of a division in your company chose do a deal that improves the division’s own profitability instead of one that would have made the division less profitable but the company as a whole more profitable. You would be angry. So why are the people who run our SOEs required to act like that?
Written By: - Date published: 1:18 pm, December 23rd, 2010 - 126 comments
The economy shrank by 0.2% in the September Quarter. None of the forecasters had dared to predict it would be this bad, except yours truly : ) because I looked at the facts, rather than being taken in by Key’s rosy spin. The money trader’s economic record is looking pretty disgraceful now, isn’t it? Hope smile and wave is enjoying the Hawaii sun.
Written By: - Date published: 12:57 pm, December 23rd, 2010 - 2 comments
Couldn’t resist this excellent BODY cartoon…
Written By: - Date published: 10:30 am, December 23rd, 2010 - 3 comments
All those who think Keynes is dead (and those who merely wondered what happened to him) should check out the website of George Soros’s Institute for New Economic Thinking (INET). A remarkable range of economic luminaries are presented on video and powerpoint, most or all of them arguing for a radical Keynesian solution to the financial crisis.
Written By: - Date published: 8:23 am, December 23rd, 2010 - 80 comments
Peter Jackson yesterday did what the government has refused to do and commented on the revelation that he told Gerry Brownlee the Actors’ Equity blacklist was no threat to the Hobbit movies being filmed here. Unfortunately, Jackson has just further sullied his reputation by revealing the true motives for the Hobbit Enabling Act.
Written By: - Date published: 9:56 pm, December 21st, 2010 - 30 comments
‘Twas the week before Christmas, and all through the House,
Nats announced policies, they’re usually scared to espouse.
Journos on holiday, Key out of reach on his Hawaiian vacation,
It was the time to let slip, their plan for ACC privatisation.
Written By: - Date published: 3:15 pm, December 21st, 2010 - 38 comments
The disastrous experiment of competition for ACC from the 1990s is to be repeated. Businesses will be allowed to chose a private firm to cover their workplace injuries. Workers won’t get to choose their level of cover of course, they’re just the ones who get injured or killed – why should they have a say.
Written By: - Date published: 2:20 pm, December 21st, 2010 - 13 comments
National still seem to be getting a lot of cover for their economic mismanagement from the Global Financial Crisis way back in 2007-2008. But New Zealand’s failure to be “roaring out of recession”, as John Key promised, is no longer tied to the GFC. It’s Bill English and National’s economic policies that mean that the government deficit is pushing the limits with no reward for average kiwis.
Written By: - Date published: 8:09 am, December 21st, 2010 - 130 comments
The Herald has used the OIA to get hold of emails Peter Jackson sent Gerry Brownlee during the Hobbit shakedown. They show that the Actors’ Equity blacklisting was not a threat to the film staying here – yet Jackson and Brownlee told us it was to justify handing Warners $34 million and rushing through an anti-worker law.
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