Welcome to Daily Trivia. There is a game to play here. The photo above relates to one of the items below. The first reader to correctly tell us in the comments what item the photo belongs to, and why, gets bragging rights. Sometimes they are obvious, other times the obvious answer is the decoy. Can you figure it out tonight?
In the US, USD470bn in grocery coupons are issued, only USD3.7bn is redeemed. (source)
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Cullen was generally regarded as a steady steward of the nation’s funds, although many who said so conveniently ignored the fact he did so during an economic boom time when he had no idea what to do with all the money coming out of the tax payer fountain.
Upon his departure, the purchase of KiwiRail at the blunt end of $2B was as cynical as it was an act of sabotage.
But all through this period, and until recently, people still thought kindly of him when talking about KiwiSaver.
That myth just fell apart too.
KiwiSaver tax credits cost more than $800 million a year but careful analysis by Treasury economists of the best data we have on household finances can find no evidence it has boosted the accumulation of wealth, a key objective of the scheme.
Research by David Law and Grant Scobie published by the Treasury examined data from Statistics New Zealand’s longitudinal Survey of Family, Income and Employment (SoFIE).
Their first look at SoFIE found that between 2008 (the first “wave” of data after KiwiSaver was introduced in 2007) and 2010 (the last before it was discontinued) both members and non-members of KiwiSaver increased their savings, defined as net wealth or assets minus liabilities.
But non-members fared better than members, averaging an increase of $32,000 or twice that recorded by KiwiSaver members.
In English – people who avoided KiwiSaver and made their own arrangements are better off than the state-run semi-compulsory scheme that was supposed to save us (heh) from ourselves. Read more »
Google is one of the biggest investors in renewable technology. They have poured billions into research and now their top engineers say that renewable energy is hopelessly flawed.
A research effort by Google corporation to make renewable energy viable has been a complete failure, according to the scientists who led the programme. After 4 years of effort, their conclusion is that renewable energy âsimply wonât workâ.
According to an interview with the engineers, published in IEEE;
âAt the start of RE<C, we had shared the attitude of many stalwart environmentalists: We felt that with steady improvements to todayâs renewable energy technologies, our society could stave off catastrophic climate change. We now know that to be a false hope âŠ
Renewable energy technologies simply wonât work; we need a fundamentally different approach.â
http://spectrum.ieee.org/energy/renewables/what-it-would-really-take-to-reverse-climate-change Read more »
It’s Monday and I’m on ZB withÂ Larry Williams to doÂ The Huddle with pinko attack blogger David Farrar
Our topics will be: