“Surprise” unemployment high masks more damaging developments
Unemployment hits 5.4% in the December quarter, but that doesn’t include the 140,000 plus Kiwi citizens that have fled in the last 2 years
inflation
Red ripple in US
Except in Florida, where Ron DeSantis led a convincing set of Republican gains, the Republican party in the US have had a disappointing mid-term election. The Democrats expecting to face a mid-term vote against incumbents, will be pleasantly surprised. There are still a lot of votes to count. This being the US, lawyers will be trying to set court dates.
Socialist economic views on current inflation
Energy costs, supply line issues, worker rights.
The politics of high inflation – can governments do anything?
It is clear that we will continue to face these economic challenges with tools that are ill-equipped to face the problems. Only a truly international response can create an economy that delivers for all.
In defense of taxing the family home
Let’s talk about why houses, art, and basically everything should be in the new Capital Gains Tax that Labour and New Zealand First should get onboard with, contrary to their reservations.
English on our low wage growth
Bill English knows that our low wage economy is a ticking time-bomb for the government. He must be starting to get worried. The repeated promises of jam tomorrow are well worn out now.
NRT: Inflation and poverty
I/S at No Right Turn writes: “The CPI is out today, and it shows that the poor are getting poorer … This is a long-term trend. Since National took office, inflation for poor households has been nearly twice that of rich households.”
The case for higher wages
In the warm afterglow of the huge wage increase for health care workers the case for addressing NZ’s creaking low-wage economy is getting some recognition (along with the effect of immigration on wages).
Minimum wage increase doesn’t meet real costs (the CPI is broken)
Any increase in the minimum wage is better than nothing, but National’s increases have not kept pace with the real cost increases (notably housing) faced by low income earners. That is why we are seeing the rise of the working poor, and increases in homelessness and poverty.
Is RBNZ ignoring deflation bogey?
Is Reserve Bank Governor Graeme Wheeler so concerned about the bogey of Auckland’s housing bubble that he is underestimating an equally nasty bogey – deflation? Deflation will certainly cure the problem of the property bubble, but that cure will be at a terrible cost.
Inflation, growth, hard times
Back in October 2010 the Nats were quick to claim credit for low inflation. No doubt they will be just as quick now to accept the blame for inflation at a 21 year high.
Some facts on Wages, Inflation and GDP
John Key at a press conference yesterday made some claims about wages, inflation and Treasury predictions that really need looking at a bit more closely.
Inflation credit and blame
Back in October last year the Nats, in a sea of bad news on the economy, latched on to the low inflation rate as something that they could claim “credit” for. No doubt they will now be just as ready to accept blame for the worst inflation rate in 20 years. Almost half of this figure is driven by the Nats’ GST increase…
I See Red
The government has a fair bit on its plate right now, like the Christchurch quake, and the hammering that ordinary folk are getting from the cost of living. So its reassuring to know that the PM’s office has its eye on the ball. It’s all over the “important issues”…
Too much of a Good Thing
Higher commodity and food prices, we are told are a Good Thing. Our exporters (ie. Fonterra and foreign oil companies) get more money. But we consumers have to pay more to by the same products, so are we better off? And what about the poor saps overseas who are paying more for less, or the really poor saps who are priced out of the market?
I’m confused
Trying to get my head around the economic arguments going on. Hearing contradictory things. Who’s telling the truth? ls Labour’s new overseas investment policy Stalinism that will ruin the economy, as Key claimed on Monday and Tuesday? Or is the same as the existing law, as Key claimed on Monday and Tuesday?
Keith Ng: Nat bullshit on inflation and earnings
National have been running some fine lines of bullshit lately. Keith Ng’s recent post at Public Address calls them out on two of them. The first, National is trying to claim credit for low inflation. The Second, National is trying to claim that recent wage increases have been better than the previous 9 years. Keith takes the bullshit apart – dirty work, but someone has to do it.
Do Nothing Key desperate to claim credit for something
The Nats are trying to take credit for the fact that annual inflation in the year to September was the lowest since 2004. What exactly did they do? Dig into the numbers and the cause of the lower inflation is a weak global economy, not National. Already, inflation is climbing, 1.1% this quarter, and will break 5% next year thanks to the GST hike.
A kick in the guts for savers
My wife and I are retired. We worked hard, we lived frugally, and we have a nest egg to get us through. Now John’s mob have come along and taken part of that nest egg away from us. 5.9% inflation will eat up our savings. The same will happen to the nest eggs of retired people or young people saving to buy a house up and down this country. How does that reward saving?
Inflation up but already on way down
Inflation hit 5.1% for the year to September driven by the mammoth spike in oil, food, and other commodity which has abated since […]
False idol
We’ve said this before but, seeing as BNZ chief economist Tony Alexander is in the Herald this morning saying ‘the October 1 tax […]
Key comes out against wage increases
This morning on Sunrise, John Key said “wage inflation” is a problem causing inflation and needs to be reduced. Wage inflation is a […]
Inflation up but interest rates must come down
Inflation was 1.6% in the last quarter, 4% annually, the highest in 13 years. Petrol is driving inflation. By itself petrol accounted for […]
Key promises productivity magic
Key reckons he could bring down inflation by targeting ‘low quality’ government spending. How? To counter inflation, you need to increase productivity. Inflation […]
National: we’ll borrow for tax cuts for the rich
Discovering National’s policy is a bit like the old art of Kremlinology, when Western intelligence agencies would attempt to discover the inner workings […]
Time to let interest rates fall
The economy is clearly slowing. Fundamentally, it remains strong with high employment, good wages rises, and strong prices for our exports but employment […]
Wages up at record rate
The Labour Cost Index rose a record 3.4% for the March year. That means wages and salaries for doing the same job rose […]