Posts on the economy, work, business, income, and labour
Written By: - Date published: 9:24 pm, September 6th, 2010 - 41 comments
Unite Union’s Christchurch office has been flooded with phone calls and text messages from worried workers in post-earthquake Christchurch.
Written By: - Date published: 7:33 pm, September 5th, 2010 - 48 comments
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.
Written By: - Date published: 10:30 am, September 5th, 2010 - 33 comments
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.
Written By: - Date published: 10:16 pm, September 4th, 2010 - 51 comments
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?
Written By: - Date published: 3:39 pm, September 3rd, 2010 - 45 comments
Whatever flimsy and tattered remains of Labour-lite which National used to disguise itself at the 2008 election has well and truly disappeared. Thank goodness we can now call a spade a spade. National is making its priorities crystal clear to the public. On a week when up to 500 elderly or disabled people in the […]
Written By: - Date published: 12:00 pm, September 3rd, 2010 - 40 comments
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?
Written By: - Date published: 10:31 am, September 3rd, 2010 - 53 comments
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.
Written By: - Date published: 8:11 am, September 3rd, 2010 - 34 comments
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.
Written By: - Date published: 11:12 pm, September 2nd, 2010 - 24 comments
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.
Written By: - Date published: 8:46 pm, September 2nd, 2010 - 14 comments
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.
Written By: - Date published: 11:45 am, September 2nd, 2010 - 22 comments
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?
Written By: - Date published: 8:11 am, September 2nd, 2010 - 50 comments
National don’t understand macroeconomics. As such they are inflicting massive and unnecessary harm, with high unemployment and a long time until recovery.
Written By: - Date published: 8:48 pm, September 1st, 2010 - 28 comments
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?
Written By: - Date published: 11:47 am, September 1st, 2010 - 34 comments
Bill English came pretty close to admitting that the Nats are “relaxed” about our current high unemployment. Phil Goff came out swinging…
Written By: - Date published: 9:17 am, September 1st, 2010 - 10 comments
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.
Written By: - Date published: 7:38 am, September 1st, 2010 - 76 comments
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.
Written By: - Date published: 7:30 pm, August 31st, 2010 - 52 comments
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.
Written By: - Date published: 12:49 pm, August 31st, 2010 - 13 comments
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.
Written By: - Date published: 11:00 am, August 31st, 2010 - 13 comments
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.
Written By: - Date published: 8:30 am, August 31st, 2010 - 96 comments
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.
Written By: - Date published: 7:28 am, August 31st, 2010 - 36 comments
According to John Key, teachers who want to maintain reasonably class sizes and free flu vaccines are disconnected from the real world. That would be the real world of hanging out with the Queen and spending $1.5bn on finance companies I guess. What a dick.
Written By: - Date published: 7:23 am, August 31st, 2010 - 9 comments
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.
Written By: - Date published: 9:56 am, August 30th, 2010 - 68 comments
Not content with wrecking primary school education, Anne Tolley has bought herself an unnecessary fight with secondary teachers.
Written By: - Date published: 12:00 pm, August 28th, 2010 - 7 comments
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.”
Written By: - Date published: 10:49 am, August 28th, 2010 - 14 comments
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.
Written By: - Date published: 11:57 am, August 27th, 2010 - 28 comments
The Employment Relations Act Amendment (2) is coming… Be prepared to fight.
But also, be prepared to slip in an Amendment to the Amendment…
Written By: - Date published: 9:42 am, August 27th, 2010 - 62 comments
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.
Written By: - Date published: 7:45 am, August 26th, 2010 - 43 comments
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.
Written By: - Date published: 7:35 am, August 26th, 2010 - 67 comments
National know the first rule of government: never have an enquiry unless you know what it will say. The latest “Working Group” is the one on Welfare. Paula Rebstock’s team include a couple of medical professionals who specialise in brain injuries, a couple of private sector providers of welfare-to-work programs with a vested interest in […]
Written By: - Date published: 1:50 pm, August 25th, 2010 - 17 comments
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.
Written By: - Date published: 1:08 pm, August 25th, 2010 - 16 comments
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.
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