Economy

Hosking calls government inept

Mike Hosking is less than impressed with the government: Quote:

We seem to be in two worlds at the moment.

I was asked by a car dealer last week, what’s happening to the economy? I passed on what I was hearing. He said they weren’t seeing it yet.

They were having to work harder for their money but the money was still coming in. That is your ‘here and now’ real world.

The one some are increasingly worried about is the world the polls are predicting. The confidence polls have been dropping across all sectors all this year.

The theory being, if it’s not real, it will be. The counter-theory is that business doesn’t like Labour governments so moan but get on with it anyway.  End quote.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

This will upset the unions

Welcome to the future; now. Bloomberg reports on interesting developments using artificial intelligence: Quote.

Maybe past performance isn’t the best predictor of future success.

At IBM, when performance review time rolls around, employees get judged not only on their past accomplishments (and failures) but also on how they might perform in the future. How can IBM predict the future? In a word: Watson.
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In solidarity with the those in the world’s most despised demographic, WH has decided to ‘come out’ as an old white male. WH enjoys exercising the white-male privilege that Whaleoil provides for him by writing the occasional post challenging climate change consensus; looking at random tech issues that tweak his interest, as a bit of a tech nerd; or generally poking the borax at anyone in public life who goes on record revealing their stupidity. WH never excelled on the sports field because his coaches never allowed him to play in his preferred position on the right-wing. WH also enjoys his MG.

Remember that 11.7 billion dollar hole?

Labour, the Greens, New Zealand First and the media all scoffed at Stephen Joyce during last year’s election campaign when he said that Labour had a shortfall in their budget forecasts of $11.7 billion, saying that they had neglected to roll forward their operating allowances. Respected business writers such as Cameron Bagrie and Bernard Hickey laughed off his predictions, implying that it was merely election campaign scaremongering.

Patrick Gower said there was no fiscal hole and called Joyce a liar. He actually called the Minister of Finance a liar. On social media, Joyce was mocked, saying that he never passed Economics at university, and clearly he hadn’t improved since. Grant Robertson demanded an apology, saying Joyce was acting irresponsibly. Everyone said he had got it wrong.

Well, he hadn’t. At least, not as far as The Otago Daily Times is concerned. Quote:

The Government has been accused of spending up large without saving anything for a rainy day in the face of global economic uncertainty.

“[Finance Minister] Grant Robertson’s loose and untargeted spending promises means the Government is planning to increase its borrowing by $17 billion over the next four years,” National leader Simon Bridges said.

The extra debt was made up of $11b of additional core Crown debt and a further $6b in crown entity borrowing, he said.

“At the same time economic uncertainty is increasing internationally this Government is taking the opposite approach – spending up large now and hoping that the next rainy day doesn’t happen under its watch. That’s irresponsible.

“This is a Government that is borrowing more, taxing more and spending more. Unfortunately it has no plans for how we as a country can earn more and in the meantime it’s reducing New Zealand’s ability to cope with international and domestic economic shocks.” End quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

The difference is striking

credit: New Zealand National Party

A picture speaks a thousand words.  Quote:

[…] National leader Simon Bridges claimed that the new Government had seen more strike action than the previous National Government experienced in nine years.

“After less than nine months of this Government 32,000 workers have been involved in industrial action, or signalled their intention to be – compared to just over 27,000 that undertook strike action in the entire nine years of the previous Government,” Bridges said.[…]  End of quote.

The latest to strike are the Inland Revenue Department and the Ministry of Business, Innovation and Employment.  Quote:

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It’s great to have a voice.

“Our lives begin to end the day we become silent about things that matter.”

– Martin Luther King

Virtue-signalling and reality: A lesson for business

Seems even big virtue-signalling companies can’t escape basic rules of economics. Breitbart reports:

Quote:Starbucks has announced that it will close 150 locations in some of the nation’s big cities to get ahead of its worst growth performance in nine years. But the company also admitted it is racing to blunt the effect of cities with higher minimum wages and other business-killing regulations.

[…]With new CEO Kevin Johnson beginning to make his mark on the coffee giant, the closures will hit corporate-owned locations mostly in densely populated areas in the U.S., meaning that the old joke that there is a Starbucks on every corner in America’s biggest cities may become a thing of the past.

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Libertarian and pragmatic anarchist. Treat everything the media says as a lie and know the narrative. Facts trump rhetoric.

The price of everything is set to increase

 

The winter of discontent is finally upon us. Fuel price increases and minimum wage increases are about to be felt and the price of everything is going to increase. Things are about to get really ugly for this government. This from  Newstalk ZB Quote:

The cost of your ASOS order, buying your daily coffee, fruit and veggies and filling up on petrol is set to increase.

According to Retail NZ’s latest Retail Radar survey, 32 per cent of retailers are expecting their prices to increase in the next three months.

“There are cost pressures across the board, it’s pretty much everything that is likely to be impacted,” Greg Harford, Retail NZ general manager of public affairs, said.

Fuel prices, and therefore freight and transport costs, the increase to minimum wage and rising property prices are expected to push up the cost of goods. End quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

From the department of the bleeding obvious

Breaking news: Face tattoos lower your chances of getting hired.

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In solidarity with the those in the world’s most despised demographic, WH has decided to ‘come out’ as an old white male. WH enjoys exercising the white-male privilege that Whaleoil provides for him by writing the occasional post challenging climate change consensus; looking at random tech issues that tweak his interest, as a bit of a tech nerd; or generally poking the borax at anyone in public life who goes on record revealing their stupidity. WH never excelled on the sports field because his coaches never allowed him to play in his preferred position on the right-wing. WH also enjoys his MG.

The winter of discontent is upon us

The government has tried very hard not to repeat the winter of discontent that beset Helen Clark’s government in the first year. The hallmarks are similar. As in 2000, oil prices are rising, and the government has exacerbated that by piling tax increases on top.

Now business confidence has plummeted, just as in 2000. The NZ Herald reports: Quote:

The spiking price of fuel, slow progress on housing and infrastructure and the threat of rising labour costs has sent business confidence in the country’s biggest city into “free fall”, says Auckland Chamber of Commerce boss Michael Barnett.

The chamber last week surveyed 800 businesses and found nearly half (44 per cent) believed the economy will deteriorate over the rest of this year.

Only 15 per cent thought the economy would improve during that time.

Compare that to June last year, when a third of businesses surveyed thought the economy would improve while only eight per cent believed things would get worse. End quote.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

Turning up to managed meetings, three weeks late and a dollar short is not fronting

The media are claiming that Jacinda Ardern has fronted up to locals in Taranaki.

If fronting up is attending invitation only meetings, four weeks after you promised to actually front up and with nothing but slogans then I guess she fronted: Quote:

The prime minister has fronted up in Taranaki to reassure locals of the government’s support for the first time since it announced cessation of new offshore oil and gas exploration.

The halt was a surprise to many and would cost thousands of jobs – but yesterday all the talk was of working together toward a “just transition” from oil and gas.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

Playing Santa Claus

A guest post.

I once played the role of Father Christmas at a large playcentre. It was great fun with a never-ending run of kids’ hilarious claims and reactions. It was also very satisfying to be giving out gifts to some very low income families. It didn’t seem to matter at the time that it wasn’t me who paid for the presents – I was able to grab the kudos and good feelings from handing out the goodies.

The money for the gifts had come from a small group of hard-working, enterprising mums – some didn’t even have kids at the playcentre. Through their initiative everyone gained.

I recalled this event yesterday listening to the finance minister dishing out goodies left, right and centre. The kids around him loved it. They enjoyed the kudos and good feelings from the role.

They didn’t stop to think about the hard-working, enterprising people who earned the money creating the goodies that the minister was able to give away. It was possible to even believe that he was thinking he had actually created all the goodies, all by himself, such was the glow of satisfaction and smugness.    Read more »

As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.