Bunch of bankers

In America a federal enquiry has now confirmed what we already knew. The 2008 financial crisis was an “avoidable” disaster caused by multiple failures of regulation and good old fashioned greed.  If we don’t make some fundamental changes it is all going to happen again…

Open mike 02/02/2011

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ECE – cuts bite today

Today is the day that Anne Tolley’s $400 million dollar cut to early childhood education bites.  A sector which delivers $13 value for […]

Economic recovery despite the Nats

Pundits looking to talk up the economy are hopeful that things will improve in 2011.  National have done more harm than good, but there some encouraging signs too, arising from external factors such as high food prices, and returns on old investments such as NZ Super.  The NZ economy will eventually recover.  Not because of the Nats, but in spite of them.

Needed like a hole in the head

Judith Collins is an utter failure. She calls herself ‘Crusher’ but hasn’t crushed a single car two years after promising to. Crime has gone up under her watch and police deaths have increased despite her claim that the Taser would make them safer. So, there’s plenty of good ways to criticise her without dumb shit like this.

What will Key cut?

The early childhood education cuts have hit – families will face an average $20-$45 a week increase in the cost of sending a kid to kindy. And Anne Tolley is signaling more to come. But it’s not just the education of the next generation that’s for the chop as National seeks to balance the books after its tax cuts for the rich binge.

Open mike 01/02/2011

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Key: Mubarak’s last supporter?

Like many of you, I stopped watching Breakfast after Paul Henry left* but an alert reader sent me this interview with John Key on the show yesterday. Before he makes his weak excuses for not Mondayising public holidays but he says something truly amazing: he thinks Mubarak should stay in power in Egypt just because he recognises Israel.

Be honest on holidays, John

John Key says he needs ‘advice’ on Mondayising ANZAC Day and Waitangi Day. The fact is the move would be right and popular but his business mates are too cheap to pay an extra 4 days every 7 years. Key’s just playing for time.

It ain’t easy being green

At his ‘Blue-Green’ conference Nick Smith talked up the Nats’ environmental credentials. Proclaimed a marine reserve … where commercial fishing will still be allowed. And pushed new air quality standards from 2013 to 2020. That will cost 635 lives and a million sick days. Smith says it will save $506m. Guess the ‘Green’ in ‘Blue-Green’ is money after all.

Greens state of the planet

Russel Norman followed Phil Goff and John Key’s state of the nation speeches with the annual Greens state of the planet address. The capital gains tax initiative grabbed headlines but there’s a lot more going on beneath the surface. As we face myriad economic and environmental problems, the Greens have the real answers.

An argument for hope?

It’s crunch time for humanity and for our current way of life.  Ever since the failure of the Copenhagen summit on climate change I have been less than optimistic about the outcome.  So the Christmas break was a good time to read Here on Earth: An Argument for Hope by Tim Flannery. An argument for hope was exactly what I was looking for…

Open mike 31/01/2011

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Hey Laydeez

Is it just me or is the idea of our Prime Minister joking around with Tony Vietch (a guy who threw his fiance […]

Economic reform for sustainability

Continual growth in the use of resources is not possible. Society and the economy has to be structured to allow a steady state economy where resource use is within sustainable limits.

Open mike 30/01/2011

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Time for the Goffice to step up to the plate

We face a stark choice this year: a Labour-led government, which will create fairer tax and invest in jobs and innovation, or National-led government, which will govern for the kleptocracy, giving them tax cuts, then selling our assets and slashing our public services to pay for them. So why is the Goffice doing such a bad job making the case?

Food/oil crisis sparking revolutions

Food and oil prices have sparked unrest across North Africa. The Tunisian Government has fallen. Egypt’s Hosni Mubarak has declared martial law. In Cairo, thousands of protesters shook hands with the soldiers, and chanted: “The army and the people are united” and “The revolution has come.”* Yup. Mubarak’s screwed.

Contact Energy: A Case Study

We could look at bailed-out TranzRail and Air NZ, with privatisation leading to risk-free pay-outs for the temporary owners of infrastructure that couldn’t be allowed to fail. Or Telecom that doesn’t look out for NZers interests, and needs us to pay for it to build us a fibre network. But let’s look at the “success” story of Contact, the closest privatisation to National’s new plans.

Open mike 29/01/2011

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Friday Fun: raising your kid Objectivist

“…When little Aiden toddled up our daughter Johanna and asked to play with her Elmo ball, he was, admittedly, very sweet and polite. I think his exact words were, “Have a ball, peas [sic]?” And I’m sure you were very proud of him for using his manners. To be sure, I was equally proud when Johanna yelled, “No! Looter!” right in his looter face…”

Stupid but dangerous

The Republican Party may be entering its death throes. In an unprecedented move, there were two competing Republican response speeches to President Obama’s State of the Union address. One from Paul Ryan, the powerful Chair of the House Budget Committee. The other from a Teabagger who looked into the wrong camera the whole time.

Welcome to Election Year

John Key was interviewed on Morning Report less than a handful of times each of the 2 years between winning power in 2008 and Sean Plunket leaving. He’s appeared on Radio NZ before 9.30 for lengthy interviews 3 times this week.

Election year accountability, you gotta love it.

Selling assets to pay for tax cuts for richest 1%

John Key, very optimistically, reckons he can raise $10 billion by selling our assets. Key’s Government gave massive tax cuts, averaging $16,000 each, to the richest 1% of taxpayers that they’ll get year after year. The present value of those tax cuts for the richest 1% is over $10 billion. He’s selling our assets to pay for tax cuts for the richest 1%.

Open mike 28/01/2011

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Hone and the lawyers

The Maori Party has budgeted $22,000 for legal advice regarding the complaint made against Hone Harawira for stating the obvious, and hired Mai […]

Debt an excuse for enriching the elite

In 2008, John Key’s line was ‘New Zealand doesn’t have a debt problem, it has a growth problem’. In Budget 2010, he said the Crown would be back into surplus in record time. In December, he said debt wouldn’t force a downgrade. Now, he says debt is such a problem we need to slash and sell. When did he mean what he said? Never. It has never been about debt.

Slash & sell … then crash

Ironically, the best response to Key’s ‘slash and sell’ agenda came from Obama, whose spotlight Key is always trying to share: “Cutting the deficit by gutting our investments in innovation and education is like lightening an overloaded airplane by removing its engine. It may feel like you’re flying high at first, but it won’t take long before you’ll feel the impact.”

Why selling assets won’t solve our debt problem

John Key is busy raising the canard of our economy being as indebted as the PIIGS countries that are in trouble in Europe.  He’s talking about net foreign debt, and he’s suggesting lowering government debt is the solution. But New Zealand’s debt problem is not a government debt problem, and with asset sales he has the wrong solution to the wrong problem.