The Government accepts the advise of the Welfare Working Group. The government rejects the advice of the Tax working Group (land tax, capital gains tax). The Government rejects the advice of the Savings Working Group (high immigration has failed as a policy, putting up house prices and requiring taxpayers to pay for new infrastructure).
Good news from North Korea, where a survey of Gross National Happiness has found they rank 2nd in the world, just after China. The next three places are held by Cuba, Iran, and Venezuela while the US ranks last in national happiness.
John Key says the high nz dollar is because of weakness in the USD rather than strength in the NZD.
If thats the case, then why are we so strong against other currencies (near record highs against the pound too).
They talk about the chinese wanting to invest 6 billion in NZ companies, pushing up the dollar further. Then , there is the christchurch quake money coming in from foreign insurers.
But, the govt is borrowing over 300 million a week — surely, this is a large contributing reason for our strong dollar.
No one seems to worry about our huge current account deficit —all foreigners care is that it appears we can pay it back in the future, and our interest rates are high.
I’m wonder what will happen to our dollar when the government starts repaying debt, the chinese begin repatriating profits from businesses they buy here, commodity prices come off the boil, and the earthquake money dries up.
This could be the perfect storm, and could cause our dollar to freefall to lower levels then ever seen before.
Backster said… Do you reckon they will be as accurate as Ken Ring?
I believe so. It is probabilistic estimation not a certainty one, which they’re 2 different things. Ken Ring’s method is a premonition which we know it’s bollocks because it’s not based on empirical scientific evidence.
Doug said… This Dr Brian Edwards article is upsetting the Left
Brian Edwards is right. The problem with Tapu Misa is that she thinks that commentary by so called prominent economists, eg, Paul Krugman constitutes a rebuttal but actually it is nothing of the sort. To the best of my knowledge, I’m not aware of any empirical study that’s been done by Krugman in the area of Macroeconomics that deals with minimum wage issues. I bet the Tapu Misa hasn’t read a single study on the subject of minimum wage.
Brian Edward’s revelation re minimum wages has floored me. Here we have one of the last true socialist dinosaurs removing the scales from his own eyes & seeing a way of growing the economic cake rather than micromanaging its slicing.
It remains to discover what brought this miracle to being…..if it could be bottled there is a fortune to be made.
“If thats the case, then why are we so strong against other currencies (near record highs against the pound too). ”
Well the pound has tanked too. The US is down against nearly every currency, unsurprising given the amount of USD that has been created. Personally dont see how we sustain a 82 cent exchange rate but I’ve given up trying to predict these things.
I suspect that you’re right…I read the article three times & even checked that I was at the correct web address. If he isn’t sending us up there is a possibility that he has discovered a new & potent recreational drug.
I think Penny should be on to this. Right up her alley.
What is going on in Christchurch…. The REAL story
I received the below email a few days ago from a friend in the industry.
Hotel Grand Chancellor is a story that needs to be told. Maybe a book someday! It was finally announced on Wednesday but it is the story behind the delay that is interesting.
This story also applies to the rebuilding and repair of Christchurch which Fletcher Building are overseeing.
The tender was to RCP (project managers for council) but was passed over to CERA once they arrived.
CERA is staffed entirely by Fletchers employees.
CERA delayed the announcement for a month to enable Fletchers to study the other tenderers info & submit a late bid. The day it was submitted CERA awarded them the tender.
Fletchers price was 3 million higher than anyone else’s!
Fletchers have no intention of doing the demolition, taking the risk, or putting up the bond to cover the risk. They are just appointing themselves as project managers to clip the ticket & then getting the original tender winners to do the work.
How did they get away with it?
Do a companies search on Fletchers. (No – don’t bother we’ve done it for you below).
They just got bought by the Reserve bank!
RBNZ owns 275 million Fletcher shares while Hugh Fletcher now only has 5000. Its a SOE. A Govt department!!
They bought themselves an income stream. They direct all the profits from the recovery straight into their own pockets instead of allowing the people of ChCh to make a bit each to help them recover.
You have to admit it is clever!!
But how on earth did they keep it out of the media?: NZ’s largest Co gets bought by Govt & it doesnt make even the tiniest news report? Really???
Something is rotten in the state of Denmark! (or in this case Canterbury!)
Meanwhile still no start to the demo & recovery after 3 months.
The books get fiddled while ChCh burns!
This is doing the rounds and will help you understand what a monstrous fraud is being perpetrated here:
Subject: The books are being Fiddled while Christchurch’s future Burns!
Subject: FW: What is going on in Christchurch…. The real story
Here are a few questions for you to think about (oh, I’ll make it easy: I
will give you the answers as well)
Q. Who appointed RCP (Resource Coordination Partnership Ltd) as Project
Managers for the management of ‘critical buildings’ following the February
A . Christchurch City Council under instructions of the NZ Government
Q . Who appointed CERA?
A . NZ Government.
Q . Who appointed Fletcher Building to manage the demolition works and
then, reconstruction works?
A … NZ Government firstly, then CERA
Q . Who is the main single shareholder of Fletcher Building?
A .. NZ Government. if in doubt check below:
[inserted company search of Fletcher Building Limited]
Who is NZ Central securities Depository Ltd?
Q . Who called for the tenders for the demolition of the Grand Chancellor?
A . RCP
Q .. Who is to be the Principle to the demolition Contract (i.e. the
A . The Crown (NZ Government).
Q .. Who assessed the Tenders for the Demolition of the Grand Chancellor?
A . RCP
Q . Who has been awarded the Grand Chancellor job (at whatever price and/
A . Fletcher Building
Q . Who will make the profits?
A . Fletcher Building (and it’s Shareholders)
Q . Who is the main shareholder of Fletcher Building? (I know, I already
asked this one, but it could be a trick question)
A . NZ Government as the Reserve Bank of New Zealand(no trick question, sorry)
Q . Who has been blind-sided?
A . Everyone involved in the (supposed) tender process firstly, but more
importantly, the people of Christchurch and New Zealand who thought that
they lived in a first-world economy.
Q . What are the ramifications?
A . Immediate loss of confidence by all independent Consultants and
Contractors in the tender process if CERA, RCP or Fletcher Building are
involved jointly or singularly in a government sanctioned role, for fear of
a continued potential for a monopoly and huge profiteering there from.
Q . Who are the winners?
A . Fletcher Building and the NZ Government, along with the other
Financial institutions that form the majority shareholders in Fletcher
Q. Who are the losers?
A . The property owners, their tenants, clients and customers, along with
everyone in New Zealand who believes in a ‘level playing field’, all the
people of Christchurch, and all the people of New Zealand that have
supported, volunteered their time and/or donated their hard earned, tax-paid
monies to the recovery following the devastating events of February 22nd.
Q .. What should I do?
A . If you care about living in a democratic, free market and transparent
economy, please send this on to everyone in your email address book who needs to know what is happening.
When you forward this, please remove all email addresses before sending it on, and use the BCC area when forwarding to friends.
“Be kind to your email friends”
As New Zealanders, exposure of this rout is our best protection.
That Brian Edwards piece is interesting, albeit an attempt at irony. Notice that the posters don’t refute the central logic of the piece – that the minimum wage destroys jobs; they just get very very angry.
I wonder if they also get very very angry about the law of gravity. I suspect they probably do. Because it’s so unfair you see. And probably racist.
These are people expert in Mugabe economics: they’d impose price controls and, like him, wonder why the supermarkets shelves are all empty and there’s no petrol in the pumps.
Hard to pick a winner from the comments, but this surely must be a candidate: “they could legislate so that all doctors, nurses, and other public sector employees get the same as their Australian equivalents. This would stop the loss of these people across the Tasman overnight. How would this be paid for – simple, the govt would also dictate to the employers that all wages and salaries must also be the same as in Australia – this would push people into higher tax brackets and increase the govt income, and everyone would benefit.”
I believe that particular poster also has some ideas for a perpetual motion machine.
You do not need to worry about a high NZ dollar. The Europeans are coming to the rescue. It is only a matter of “when” one or more Europen countries default on their debt and the contagoin hits the financial markets. There will be a scramble to pay off debt, as most debt in the world is in US dollars, we should see a strong US dollar. Maybe tomorrow, next week, or in July, or next year, the Euro is going to tank.
smttc 10.11am says: “CERA is staffed entirely by Fletchers employees.”.
I’ve just picked up the phone and asked someone who knows.. “Is there any truth in the assertion that CERA is entirely ex Fletcher employees?” Answer – “Not at all. Who on earth suggested that? For starters, the CEO is Roger Sutton and he came from Orion Energy! Others I know at CERA were not from Fletchers either…”
This conspiracy ‘piece’ is a complete load of bollocks. Whoever wrote it probably checks under their bed each night to make sure that there is no evil ‘red’ lurking there to eavesdrop on matters ‘secret’. It is pure propaganda created by someone that know SFA and yet they still try and have others buy into some massive conspiracy theory.
No doubt, some gullible halfwits will think this is somehow ‘fact’ and accept it. But thankfully, others with an IQ of double digits and above will see it for what it is – a fabricated piece of junk written by conspiracy theorists with nothing better to do.
smttc – sorry, I can’t remember which blog I saw it on while I was roaming around unable to sleep in the wee small hours but the post had a big bunch of the conspiracy crossed out and an apology for misrepresenting the Central Security Depository saying that it is a private company holding shares either in trust or managing them on behalf of many many small investors. And yes the Company is owned by the Reserve Bank but if you follow it through here http://www.rbnz.govt.nz/payment/nzclear/ you can see that it has a function far removed from holding assets for the Government.
Without that connection, the whole thing unravels quite quickly I think.
The biggest cost- saving option in Auckland transport is simply to demolish the existing bridge, sever the northern side of the harbour from the southern – say a ditch from Riverhead out to the west coast. Then NZ can forget about everyone north of bridge because nothing of much value is produced north of there apart from marijuana. Then they can save big-time on roading infrastructure on the southern side because the northerners will be left stranded and won’t be able to head over the southern side.
Should probably do the same with the Sth island – why waste the money on another rail port?
What is it with Auckland and it’s politicians ?
As a Auckland schoolboy in the 50s and 60s I was quite interested in the rail loop plan.
I used to see the diagram in the NZ Herald with that dotted line going from downtown to Mount Eden.
I thought that would be neato. But what have you done with it. Been a while now.
………. # da vinci at 12.42. Severing the South Island.
Go ahead. But before you do — look out where the exports go from. And where the imports go to. Then abandon your view and adopt craven self interest.
For a good laugh about that. Catch the excellent play ‘Le Sud’
On my first entering the village the children were dreadfully terrified. They shrieked aloud and ran in all directions to hide themselves: screaming with all their might, one alarmed another. If I had come from the invisible world they could not have been more sore afraid. The impression upon their infant minds at the first sight of a white person was so alarming as not to be removed while I remained amongst them, though some of them attended me with their parents for three days afterwards in visiting the different chiefs. Whenever they caught my eye by any accident they shrieked aloud, and no attentions of mine could pacify them. I had not met with any circumstance of this kind before in New Zealand. The children are generally very easy, open, and familiar at the first interview, and show an anxiety to pay every little attention in their power to strangers. There can be no finer children than those of the New Zealanders in any part of the world. Their parents are very indulgent, and they appear always happy and playful and very active. http://www.enzb.auckland.ac.nz/document?wid=1062&page=0&action=null
In this village I observed the heads of eleven chiefs stuck up on poles as trophies of victory. On enquiry I learned they were part of those Shunghee brought with him in his last expedition to the southwards. He had cured them all. Their countenances were very natural, excepting their lips and teeth which had all a ghastly grin as if they had been fixed by the last agonies of death. How painful must these exhibitions be to the wives, children, and subjects of these departed chiefs, who are prisoners of war and labouring upon the same spot with these heads in full view! My mind was filled with horror and disgust at the sight of this Golgotha; at the same time I anticipated with pleasing sensations that glorious period when, through the influence of the Gospel, the voice of joy and melody would be heard in these habitations of darkness and cruelty, where nothing now reigns but savage joy on one hand and weeping and mourning on the other. http://www.enzb.auckland.ac.nz/document?wid=1061&page=0&action=null
“Shunghee informed me five days before a chief, Tenana (Tinana), had killed his wife for adultery. She had been caught in the act, and acknowledged her guilt, when her husband knocked her on the head with a pattoo. The punishment, he said, was just. Her brother had been and taken away the dead body, which was conveyed to the sepulchre of her friends. She was a woman of rank. Her friends would not punish the surviving husband, as he had acted according to the established customs of their country, further than taking away a few baskets of potatoes as a satisfaction for the death of the woman. A man will sometimes put away his wife for adultery, but he may put her to death when the fact is fully proved, if he wishes to do so, and his conduct will meet with the approbation of the public. ”
“We told them it was not the custom in England for gentlemen’s wives to cultivate the land, whereas their wives were working from morning to night in the field; that gentlemen in England had only one wife while some of them had ten, that so many wives created much trouble and quarrels. They observed that what we said was very true, that such a number of wives caused great disputes amongst them, that it often happened that the women in those quarrels would go and hang themselves; but they alleged that, notwithstanding those evils, they could not dispense with their number of wives, for they had no money to pay for the cultivation of their land and without the assistance of their wives, either as labourers or overseers, they could not cultivate their lands at all. If they had the same means that the gentlemen had in England of cultivating their land with cattle, their wives should be employed in a different way, but they could not alter their present plan till they could get the means.
We told them that we hoped in time they would have those advantages, but much would depend upon their own conduct towards the Europeans. If they behaved well to them, others would be encouraged to come to live amongst them; if ill, those that were now in New Zealand would return to their own country. They only wished for an opportunity to show their attention by having two or three with them. The New Zealanders are eager to gain instruction, have a quick conception and a very retentive memory.”
“Ender (27) Says:
….Some might say that the original review was wrong out of sheer incompetence but I think otherwise…”
I could but only wish your hunch was the case, if so then we would have a chance of maybe something going right.
Alas I fear it is just sheer incompetence as we have seen plenty of evidence to that end so far.
The next day we received a visit from Mr. and Mrs. Butler, English people, who had taken up their residence here for the purpose of trading, and we returned with them on shore, taking our female passengers with us, and leaving them in charge of Mrs. Butler. I determined to stroll through the village, which is, in fact, a collection of rude huts, huddled together without system or regularity. Dock leaves and weeds of every description were growing luxuriantly all round them, and in many places actually overtopping the houses, few being more than four feet high, with a doorway about two feet. Scarcely any of them were inhabited, as at this season of the year the greater part of the population prefer living in the open air to remaining in their small, smoky ovens of houses.
I had not rambled far before I witnessed a scene which forcibly reminded me of the savage country in which I then was, and the great alteration of character and customs a few days’ sail will make. The sight to me so appalling was that of the remains of a human body which had been roasted, and a number of hogs and dogs were snarling and feasting upon it! I was more shocked than surprised, for I had been informed of the character of the New Zealanders long before my arrival amongst them; still, the coming suddenly and unexpectedly upon a sight like this completely sickened me of rambling, at least for that day, and I hastened back to Mr. Butler’s, eager to inquire into the particulars of the horrid catastrophe.
That gentleman informed me that the night of the arrival of our ship, a chief had set one of his kookies (or slaves) to watch a piece of ground planted with the kumara, or sweet potato, in order to prevent the hogs committing depredations upon it. The poor lad, delighted with the appearance of our vessel, was more intent upon observing her come to an anchor than upon guarding his master’s property, and suffered the hogs to ramble into the plantation, where they soon made dreadful havoc. In the midst of this trespass and neglect of orders his master arrived. The result was certain; he instantly killed the unfortunate boy with a blow on the head from his stone hatchet, then ordered a fire to be made, and the body to be dragged to it, where it was roasted and consumed. http://www.gutenberg.org/files/11933/11933-h/11933-h.htm
Numerous overseas studies have shown that children who are physically punished are more likely to be aggressive and antisocial, have poor parent-child relationships and develop mental illnesses.
But the lead author of the physical punishment part of the Dunedin study, psychologist Jane Millichamp, said the project appeared to be the first long-term study in the world to separate out those who had merely been smacked with an open hand.
Preliminary analysis showed that those who were merely smacked had “similar or even slightly better outcomes” than those who were not smacked in terms of aggression, substance abuse, adult convictions and school achievement.
“Study members in the ‘smacking only’ category of punishment appeared to be particularly high-functioning and achieving members of society,” she said.
“I have looked at just about every study I can lay my hands on, and there are thousands, and I have not found any evidence that an occasional mild smack with an open hand on the clothed behind or the leg or hand is harmful or instils violence in kids,” she said.
“I know that is not a popular thing to say, but it is certainly the case.
“The more honest researchers have said, let’s be honest, we all wish we could say it’s all very clear and that no parent should ever lift a finger on a child – although I think that is totally unrealistic as a single parent myself – but the big problem is that a lot of the studies have lumped a whole lot of forms of physical punishment together.”
Dr Millichamp said the Dunedin study so far found no evidence of the “slippery slope” theory – that parents who started off smacking often progressed to abusive punishments.
“We couldn’t find any,” she said.
The findings undermine Green MP Sue Bradford’s bill to repeal section 59 of the Crimes Act, which allows parents to use “reasonable force” to discipline children.
Nigel Smyth-Fennington-Jones the well known English archeologist dug 3m down into a Norfolk fen and found traces of copper wire. He concluded in a masterful resume of his work that the Poms had a working telephone system 200 years ago.
Not to be outdone Shamus O’Toole a well known Oirish peat supplier discovered traces of copper wire 6m down in his peat bog in Donegal. At the local over a jar of the crater he concluded that the Irish had telecoms 400years ago.
Reading of this and determined that the Tangata Whenua could not be outdone by lesser civilisations Wiremu Anzac Te Rauparahau-White began digging at his Hapu’s Urupa and after reaching 12m and finding nothing declared that Te Maori had gone wireless as soon as they arrived here.
Man: I’m a bit kinky. Was wondering what you could do for me?
Woman: Well it depends, what kind of kinky?
Man: I like to be totally dominated, degraded and humiliated
Woman: Yea, no problem. It will cost you $150
Man: Great, what do I get for that?
Woman: A Hurricanes jersey…
On a new tack…I see that’s there’s an outbreak of food poisoning in Germany involving a particularly nasty strain of E-Coli, on, of all things, cucumbers. So far, 14 dead and 300 or so seriously ill, and more deaths are expected.
Isn’t it strange that that most newspapers aren’t reporting what is possibly the most salient fact about the outbreak; the cucumbers are “certified organic”. It seems that improperly treated (but beautifully organic) manure is the ultimate source.