RBNZ chickens out on vital new rules
What a shame that the Reserve Bank has backed down on new the prudential liquidity rules that require the banks to raise a higher percentage […]
Economy
economy
The invisible hand gets frisky
Time to wake up from the neolib nightmare
Back in the 1980s, some people who had read too much Milton Friedman and had drunk too much whiskey at Backbone Club meetings, […]
Beyond GDP
Back in 1934, when Gross Domestic Product was first being developed in the States, the economist in charge, Simon Kuznets, wrote “…the welfare of […]
Up in smoke
When the Tui oil-field was opened last year, the operators (AWE New Zealand, 87.5% foreign-owned, ironically) were given permission to burn off 10 […]
The economy of hero worship
I wish that I got praise heaped on me at my job for exchanging a bit of small-talk with the popular dude. Don’t […]
John and Bill cost us $7 million in two months
You’ll remember that in the Budget National decided to suspend payments to the Cullen Fund, which is designed to help fund the future […]
Back into growth
The newly released figures show 0.1% growth in the June quarter. The March figure was also revised up to -0.8% (from -1.0%). Here […]
Peak metals
We’re probably all now aware of the idea of peak oil. The earth is finite, and we can’t suck an infinite amount of […]
Fed farmers frothing
A virulent attack on Greenpeace in a press release by Federated Farmers president, Don Nicholson, convinces me that Greenpeace are hitting the mark. […]
Corporate welfare
I’ve got no problem with the government helping out those who are genuinely in need but forcing the taxpayer fork out $400 million […]
What next, Soylent Green?
The Wall Street financiers crapped out on their sub-prime gambles, inflicting economic devastation on the taxpayers who generously bailed-them out in return. Now, […]
Just put it away
I know this free condoms idea is just a remit, not Labour Party policy, but it’s exactly the kind of thing that the […]
It ain’t over ’til it’s over
The economists think the recession is probably over (for now). If you’re one of the lucky ones, you may very well be thinking ‘well […]
Currency too high, recovery could falter – Fed Farmers
“I’d really like to know what Treasury is on for it to be so bullish about the economy, as it must be good […]
Climate change in action
The world’s oceans reached a record high temperature in July of 16.37 degrees, 0.59 degrees above the 20th century average. That might not […]
Wee gripes: temporal confusion and the recession
The Herald editorial this morning calling for mining DoC land: “That resource represents wealth which this country is in little position to ignore. […]
Apply the brakes, before it’s too late
The real estate agencies and the newspapers, both of which have an interest in a booming property market, are predicting that housing prices will surge […]
Playing catch up?
In the 1980s and early 1990s, during the Right’s neoliberal economic revolution, New Zealand’s economic output per person stalled – growing just 0.01% per […]
Well done National
The polls are still fine but National are looking a wee bit crispy round the edges right now. Nice Mr Key has a […]
It’s Labour’s fault it didn’t rain!
One of Bill English’s favourite lines is that New Zealand entered recession ahead of the rest of the world ‘due to Labour’s mismanagement […]
Electrical storm
Breaking up the old Electricity Corporation into a bunch of artificially competing companies has been a 15-year failure. They’ve poured heaps of money […]
Double bubble trouble
It’s a rare day that I agree with Bill English but he’s right about the danger of another housing boom. The last bubble […]
Double dipping
No, not another post about Bludger Bill, this one’s about that thing that he and Key are meant to be taking care of. […]
Unemployment hits 6%
Stats NZ has just released the unemployment figures for the June Quarter. Unemployment has hit 6%. That’s 138,000 people out of work. We’re […]
Less work, less pay for Kiwis
Today the Household Labour Force Survey, which includes the official measure of unemployment, will be out. The headline number is expected to be […]
Sshhh! You’ll make the economy cry
John Key says we shouldn’t be talking about the number of people going on to the dole. He reckons that mentioning the fact that […]
Good potential, will it deliver?
17,000 youth jobs. That’s what Key has promised with a $152 million programme (some of this is existing money). Like Colin Espiner says […]
Get ready for more over-promise, under-deliver
Tomorrow John Key will be announcing policies on youth unemployment. Looks like rehashing of the already announced Youth Guarantee and probably something more. […]
Wee gripes: spreading ignorance
Tracy Watkins: “productivity as a country – the amount of goods and services each worker produces and the value they add” God. Here’s […]
Recovery nightmare
‘A nightmare’ scenario. That’s how ANZ chief economist Cameron Bagrie speaking on Morning Report described the outlook for the economy as the recession […]
Spin cycle
Normally, $9 million in government spending is such a puny amount it’s not worth covering but as Key has nailed his crediblity to […]
Nice try, Roger
Sir Roger Douglas has a go at my post that looks at the GDP per person gap between Australia and New Zealand and concludes […]
Productive editorial
Interesting editorial on National’s new Productivity Taskforce in Saturday’s Herald. Australia’s Productivity Commission (independent, highly successful, and enjoying cross-party support) could have served […]
Sunday reading: Life in sub-prime America
Exiled Online, a US site, has excellent coverage of the recession and the sub-prime crisis from a ground-level view. Yasha Levine moved to […]
Back to the future: electricity privatisation
Bill English says he doesn’t much care whether monopolies or businesses with monopolistic power are owned by private companies or the Government does. He doesn’t […]