a Greece, Ireland, Spain. Initial effects: The economic heart of Christchurch is shut down. ... A growing public housing waiting list and continued increase of house prices must be urgently addressed by Government, Green Party Co-leader Marama Davidson said today. What Biden and Democatic Senate can do on climate in their first 100 days. The Canterbury earthquakes of 2010-11 required a momentous recovery undertaking by the City of Christchurch in New Zealand. In 12 months time the recession may be a distant memory and all you will end up doing is stoking inflation, higher interest rates and government debt. Green Party will continue to push for wealth tax, blast Govt for ‘not doing enough’ about housing crisis, ‘Government is not doing enough’ – Greens, National call for action amid soaring public housing need, high house prices, Skeptical Science New Research for Week #3, 2021, A New Approach to Homogenize Global Subdaily Radiosonde Temperature Data from 1958 to 2018. Guest post: How to ‘fairly’ share emissions from goods traded around the world, Click here to access the original article and comments, How good is the AstraZeneca vaccine looking? Large economic losses also resulted from the earthquakes … The Plan B implosion – what Brazil teaches us about the herd immunity hogwash, The ‘brutal’ catch-22 politics of trying to move to affordable housing. The Earth Quake represents the single best opportunity for real economic progress for our country. In the first month of this year, there’s been more RuPaul’s Drag Race than ever. Those workers who lose their jobs will flood an already bad jobs market. But why stop at Christchurch Marty, and why stop at rebuilding what exists. Tags: earthquake. ¿Ò¯ð+ý You’re next! Approximately 25% of all buildings in the Christchurch CBD have been “red tagged” or deemed unsafe to enter. The region is facing major economic and organisational challenges in the aftermath of these events. ... Ban Bomb Day event at the New Brighton Pier, 9am, on January 22nd, 2021 January 22nd, 2021, marks the first day the Treaty on the Prohibition of Nuclear Weapons (TPNW) Enters into Force and becomes international law. On 22 February 2011, at 12:51 pm, Christchurch was struck by a magnitude 6.3 earthquake. She gave a presentation on 15 January 2021 on the connection between postmodern/transgender identity politics and the current attacks on democratic and free speech rights. The September quake had occurred in the early hours of the morning with family generally close at hand. The earthquake … Research following the Christchurch earthquakes has shown that increasing exposure to the damage and trauma of a natural disaster is correlated with an increase in depression, anxiety, and … The Mt Richmond Forest Park has unique ecosystems developed on mineral-rich geology, including taonga plant species found nowhere else in the country. The estimated $15 billion rose to $20 billion. The latest events are most likely aftershocks of the M6.3 earthquake that devastated Christchurch and left more than 180 people dead at 22 February, 2011 and of the M7.0 event in September last year. About $2 billion worth of damage has been done, much of this damage will impede economic activity. Once the rebuilding is over, the GDP boost will disappear. Members are asking for increased sick and bereavement leave, a collective agreement, and more guaranteed ... It’s great to hear Phil Twyford celebrating a success. The quake was centred 10km south-east of the city at a depth of 5km. Environmental Impacts of Christchurch and Kaikoura Earthquakes: Lessons Learned to Inform Resilient Strategies ... by the 2010-2011 Canterbury earthquake sequence and the 2016 Kaikoura earthquake. They most likely will be by future historians pondering the critical decades of ... Back in 2016, the Portuguese government announced plans to stop burning coal by 2030. In late 2010 and in 2011, Canterbury endured a series of major earthquakes. To impact or not to impeach? When the Government borrows 200 Million dollars as a result of the sale of NZ Bonds, the Governments receives 200 Million dollars in foreign currency. COVID-19 vaccines and community immunity (transmission), Four years of the Aotearoa NZ Science Journalism Fund, Treaty on the Prohibition of Nuclear Weapons, Labour announces that it will make more housing announcements this year, Backlash over Labour’s public housing ‘re-announcement’ prompts firm defence from Jacinda Ardern, More public housing won’t ‘fix’ the housing crisis, Jacinda Ardern’s government facing continued criticism over its. Both sides reporting in the time of Trump, PM Ardern and President Biden as a comparison, No Right Turn: One way of fixing the housing crisis. When a building gets replaced at a cost of a million dollars, that million dollars is also lost forever. The bit I don’t get is where Marty G says: “Following confirmation of the Cook Islands’ COVID ... Jobs for Nature funding is being made available to conservation groups and landowners to employ staff and contractors in a move aimed at boosting local biodiversity-focused projects, Conservation Minister Kiritapu Allan has announced. Christchurch Earthquake Simon Swaffield Place, culture and landscape all provide continuity to our lives. Should tech giants control the public square? Environmental, economic and social impacts affecting Christchurch. While employment and population trends are a particular concern for the region, business and consumer confidence and retail sales improved in late 2011, … Four Indigenous composers and a piano from colonial times — making passionate, layered, honest mus... Why the COVID-19 variants are so dangerous and how to stop them spreading. I’ve missed the bit where “the Right” said that the earthquake would be good for the economy. 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That’s the broken windows fallacy – it mistake of seeing what is gained but not what is lost, or mistaking temporary economic activity for economic wealth. be that its a cost, but actually its more like a reinvestment. I find myself nodding in agreement with what seems like the common sense of much that you say above nzfp (with the exception of handing out a knighthood to Savage, whom I’m pretty sure never got, nor probably wanted, one – a recolelction his official biography seems to confirm). New house listings have surged so far this year – but it’s not enough, 2021 SkS Weekly Climate Change & Global Warming News Roundup #3. CTU Economist Craig ... Children’s Commissioner Andrew Becroft acknowledges the huge effort and commitment of departing Oranga Tamariki Chief Executive Grainne Moss and says her decision to resign today was principled. It was a 6.3 magnitude earthquake and the focus was very shallow at 4.99 kilometres deep. It is better explained by Professor Michael Hudson in an earlier post of mine here and on his website here. His Twitter handle is @MartinKulldorff #1 Public health is about all health outcomes, not just a single ... Joe Biden seems to be everything that Donald Trump was not – decent, straightforward, considerate of others, mindful of his responsibilities – but none of that means that he has an easy path ahead of him. In September 2010, Christchurch was shaken by the magnitude 7.1 Darfield earthquake, caused by movement along faults west of the city on the Canterbury Plains. Joe Biden inauguration: The pendulum has swung, but how far? The net effect would be a reduction in inflation due to the fact that we don’t need to service foreign interest debts. Air quality decreased in Christchurch city in 2011, exceeding the national air quality standard on 32 days. Though the government supplied money for those who were fired, businesses that needed re … Infrastructure is damaged as are buildings and factories. Now we’re getting access to that $10 again, but it isn’t new money magicked out of nowhere, but deferred spending from 1990. I remember when that visionary leader George Dubbyerbush decided to dump billions of dollars of bombs on Iraq and Afghanistan the right crowed with delight about the benefits to the US economy that would entail. In the ten minutes after it hit, there were 10 aftershocks of magnitude 4 or more. ASB chief economist Nick Tuffley puts the hit at 0.6% of GDP. Of course, I and others have been arguing for some time that the government should decrease its net assets to more economic activity. This resignation is the result of the continued strong pressure of the Māori Party ... Chris Liddell has dropped his candidacy to become director-general of the Paris-based OECD. This call comes after the Commerce Commission issued a ‘stop now’ notice ... British High Commissioner to New Zealand Laura Clarke is calling on young women aged 17 to 25 to apply for the annual ‘Be British High Commissioner for the Day’ competition. People needing elective surgery are unable to get it. At the bottom of the At least they’ll have something to do for a while now, and the construction industry has the spare plant and equipment for the rebuilding task. Remember that either of these methods are required to pay for infrastructure that cannot be paid for out of current taxes – and shouldn’t be. Tarsin – flying on a giant summoned bat – dumped some high-grade oil over the ... Last night I stayed up till 3am just to see then-President Donald Trump leave the White House, get on a plane, and fly off to Florida, hopefully never to return. Donald Trump, elected on a promise to ‘drain the swamp’ and a constant mocker of his predecessors, ... For over a decade commentators have noted the rise of a new brand of explicitly ideological politics throughout the world. So, breaking news is that the estimate for rebuilding Christchurch has increased to $4b. It was the fifth most powerful earthquake ever recorded, and within 30 minutes, a 133-foot high tsunami pummeled Japan's northeastern shoreline. Assuming Key still counts as “the Right”: “PAUL Yes exactly, and I suppose people will be hoping they get full compensation, but that will all have to be worked out. However, there will be a boom for individual businesses, particularly those in construction. Medium term: EQC and insurance companies will begin making payouts within weeks but it will be months before the big rebuilding starts. The slow-down in commercial construction was about to put 20,000 jobs at risk. The Government’s prudent fiscal management and strong policy programme in the face of the COVID-19 global pandemic have been acknowledged by the credit rating agency Fitch. As a comparison, the March 2011 earthquake and tsunami in Japan is estimated to have caused damage equivalent to around 3 to 4 percent of Japan’s annual GDP. The Mob Rules Society: Reckoning between an Idea versus the Reality of America as chickens came home... 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Their political fortunes depend on it, 4 of our greatest achievements in vaccine science (that led to COVID vaccines). The next steps in the Government’s ambitious firearms reform programme to include a three-month buy-back have been announced by Police Minister Poto Williams today. Normal bloggage will resume Tuesday. And I agree with most of the post. So, I thought it would be worthwhile going through the economic ramifications of the earthquake from the immediate effects to long term: Initial effects: The economic heart of Christchurch is shut down. The overall effect would be hugely beneficial to our economy and would result in a net lowering of all taxes. I thought the EQC funds were set aside specifically for post-disaster rebuilding. Orla has been active previously in the Irish Socialist Workers Party and the People Before Profit electoral ... . The Christchurch earthquake of 2011 had widespread mental health effects on the population. good work on forcing this argument. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10671573& for example. Such business models are illegal under the Fair Trading Act 1986. The Communist Party of China prepares to mark its 100th birthday this year with massive pomp and ceremony. But the idea is that a stimulus package gets the economy revved up again and builds up its production capacity. Racing 2-year-old horses is lucrative, but is it worth the risks? Oh well. All together there are 12 large plates and 8 smaller plates; these plates move around in different directions at a pace of 2 cm once a year. In the wake of Donald Trump's incitement of an assault on the US capitol, Twitter finally enforced its terms of service and suspended his account. On this basis, how could the money have been spent re-igniting the economy etc.? This boom and bust might further damage business confidence and, with it, longer-term growth. because its now a huge insurance risk to build so close to the sea, on sand. ³Ò¬0+Í Economic activity can be stimulated by something as simple as a bridge in the right place which reduces the cost of transport for products from A to B. On 22 February 2011, Canterbury and its largest city Christchurch experienced its second major earthquake within six months. It is good timing, however, in one sense. The frail elderly and COVID vaccines – should we be concerned? Dame Naida Glavish, Dame Tariana Turia, ... Cycling advocates are welcoming new advice from the Transport Agency on safe cycling. Remember that inflation of the money supply is only inflationary if there isn’t an equivalent increase in products and services including human services such as health and education. That’s true of a stimulus package too, of course. Not at the moment; I’ve tried following the logic and I’m missing out somewhere. Our study examines the role earthquake-related failures in the transportation network played in post-earthquake economic performance, including during the immediate recovery phase. A small number may have short term gain through the economic boom as a consequence of repairs. jobs harder, if it puts money into tradespeople in ChCh, if we build new quake resistent Reviewing the Dawn Raid movie, and our lost youth, Five big ticket items that New Zealanders are going crazy over, Short story: Pātea Pools, by Airana Ngarewa, The rise and fall of New Zealand’s largest water park, Taxpayers' $500k for meth treatment goes up in smoke, Please stop ruining summer and turn off that godforsaken music, On the Rag: It’s time to stop being a boob about boobs, NZ offers to be 'honest broker' in nuclear disarmament. We’ve met to discuss Archetypes. Henry Hazlitt, the former New York Times economics editor, wrote in his book Economics in One Lesson that when assessing the economic impact of a policy we must look not just at its immediate effect on one group but on its long-term effect on everybody in society. I understood that the money (especially from EQC) to be spent rebuilding is dedicated to rebuilding. Tourism was seriously affected e.g. 2. Both are bad for the economy but due to the visual impact of buildings literally being destroyed it is easier for the layman to identify the economic damage from an earthquake than from government “stimulus”. all have crisis that hit them, if they are governed well they have stores of money to cover the We'll highlight some of these interactions in this blog post. xÐðID[Ì\ rÙEb®§=.0DÛd>m&«#y¸YÔ9w d4Ä.ðß5$Ä)êê 7rûtçì6Hz What the broken window fallacy is really about is opportunity cost. As you note, there will be in some cases some marginal benefit, in that when something is rebuilt it could be “better” than what existed previously. Russia Today has a great video of the shaking and the environmental effects: Monday’s M6.0 event was a strike-slip earthquake that occured 10 km NE of Christchurch in only 2 km depth. It’s set aside for a specific purpose, not for politicians to spend on whatever whim takes their fancy, even if their fancy happens to be a good idea. the debt Key would have run up with tax cuts to the few would have made NZ this reason. Ten Republicans voted for impeachement, making it the most bipartisan impeachment ever. It sounds like a conveyancing firm in Levin. And when I woke up this morning, America was different. This time it was often colleagues, classmates or complete strangers who comforted and hel… Look at the data, not news headlines, School Strike 4 Climate is holding a "100 Days 4 Action" rally outside Parliament on the 26th. 8-ÔjüjÙt¼r®>ÆOç7±çÞ9®ëÄûüC;r2?Ç&Î" Oc\ ¹çÉåTT àzϱîqð÷>ENÛÁ2'³_öcÕ-%ÖR That’s likely to be much worse now. Did everyone spontaneously applaud Amanda Palmer in a Havelock North café? You’re next!”, Coming attraction: IPCC's upcoming major climate assessment, Look for more emphasis on 'solutions,' efforts by cities, climate equity ... and outlook for emissions cuts in, After the Insurrection: Accountability, Reform, and the Science of Democracy, Prof. Angela Gallego-Sala & Dr. Julie Loisel. Identifying the economic impact is difficult. “200 Million in NZ Bods” should be “200 Million in NZ Bonds” People are dislocated, injured, or … The cold supply chain can’t reach everywhere – that’s a big problem for equitable COVID-19 vac... health inequities and promote social justice. Impacts of Christchurch Earthquake In total, the 'rehabilitation' costs $15.1 billion dollars worth of damage, Many businesses needed to fire employees due to the heavy re-building fee. Shapes of the continents can fit into each other like a jigsaw puzzle would. But one thing I would like to ask how does an increase in interest rate will dampen the demand for kiwi dollar? This week: the blogging firm of Michael Bassett, Don Brash and Rodney Hide. Because an increase in interest rate will lift up the return for every dollar overseas investors invest in New Zealand relative to other countries’ interest rates, therefore the demand for kiwi dollar should have increased rather than decreased. ;t¨ìPÑ¡Ò¯ð+ý About $2 billion worth of damage has been done, much of this damage will impede economic activity. He opposed Karl Marx, Thorstein Veblen, Major Douglas (Major Clifford H. Douglas), John Maynard Keynes and Alvin Hansen. RNZ reports on continued arbitrariness on decisions at the border. The Department of Internal Affairs and New Zealand Police acknowledge the sentencing of 36-year-old Aaron Joseph Hutton on charges relating to the possession of child sexual exploitation material, and entering into a dealing involving the sexual exploitation ... Ngā Tāngata Microfinance (NTM) is calling for tougher penalties for those caught promoting pyramid schemes. As it was deliberately set aside for a specific purpose, it can’t be used for another purpose. What a sad reflection upon our government. Photograph: David Wethey/EPA. It could have be so much worse. And Liquefaction happens when underground water in the soil comes to the surfac… the msm would just have blindly followed the stupid ‘silver lining’ angle otherwise. “New Zealand ... A major investment to tackle wilding pines in Mt Richmond will create jobs and help protect the area’s unique ecosystems, Biosecurity Minister Damien O’Connor says. However, how would you respond to the coventional wisdom that what you’re proposing would be inflationary and thus damaging? The leader of each APEC economy appoints three private sector representatives to ABAC. We’ve already saved to pay for disasters. Since Dwight Eisenhower’s inauguration in 1953, US presidents have joined an informal club intended to provide support - and occasionally rivalry - between those few who have been ‘leaders of the free world’. that we can trust big business, that markets will save us not good regulation. re-investment. The Tax ensures the velocity of money – that it circulates. The commemoration of the 175th anniversary of the Battle of Ruapekapeka represents an opportunity for all New Zealanders to reflect on the role these conflicts have had in creating our modern nation, says Associate Minister for Arts, Culture and Heritage Kiri Allan. Friedman also gave Chile Augusto Pinochet and the Chilean deathsquads and disappeared. Early next step: Add risk management to National Climate Assessment, Power play: Meridian Energy reaches deal with Rio Tinto over Tiwai Point Smelter, Tiwai Point negotiations continuing despite breakthrough on smelter, Locals ‘absolutely thrilled’ about Tiwai Point’s revival, Tiwai aluminium smelter to stay open until. The 200Million in Foreign Currency was created out of nothing at all by foreign banks – an exercise the Government could do itself. I applaud the writers of The Standard for taking on the idiots saying the earthquake will be good for the economy. This is not a permanent increase in economic output. The chairman of the Rātana Church executive has called for the return of its own political party, rather than continuing to align with Labour. Von Mises gave us Ayn Rand and Libertarianism. But whats the point of stringing it out? There’s been some frankly bizarre talk about the earthquake being an economic boon for the country. To do this they park the foreign currency in a foreign currency account and create an equivalent 200 Million NZD out of nothing. I must say that this is a very critical analysis. The Christchurch series of earthquakes is more complex than (say) a hurricane in that there is n inherenta threat in the continuing aftershocks that can last for many months, exposing people to recurrent acute stress, while at the same time chronic stress is imposed by the -going human, economic on and social costs. As you pointed out in the last paragraph, “Offsetting this, possibly, is that it just became much less likely the Reserve Bank will increase interest rates again, which should dampen demand for the dollar.”. 2010-2011 Christchurch earthquakes is estimated to be in the range between 25 and 30 billion NZ dollars (or 15% to 18% of New Zealand’s GDP). I understand why some of those who are justifiably aghast at Trump’s behaviour over recent days might still counsel against impeaching him for a second time. If I break my cellphone and have to dip into my savings to replace it, I am not better off, I am worse off – even if the new phone is better because obviously I had preferred to have my old phone and my savings rather than the new phone. A few highlights: Israel chose to pay a bit over the odds for the Pfizer vaccine to get earlier access. We use detailed (neighbourhood-level) … Written By: Overall, the effect is that we haven’t seen a sharp fall in the currency, which would have been a boon for exporters, that you might expect from a disaster like this. As Westpac noted “This will boost national GDP by far more than the initial income loss, with a corresponding letdown once the reconstruction boom ends.” Just as with the Rugby World Cup, the one-off up-tick in GDP will be matched by a corresponding downwards movement when the spending stops. As had happened after the 4 September 2010quake, there was a lot of liquefaction. Earthquake Impacts in the Christchurch CBD Prof Jarg Pettinga & Dr Tom Wilson Dept. FÕU¾oA6hÂÑ1RVè\µçIo ®53e'»ê`M^¯zÏ¥\Wã1m©AêÑ?ÝÙµ,=1óY. Hazlitt opposed Major Douglas – Major Clifford H. Douglas the founder of the Social Credit school of economic democracy. Burwood was one of the hardest hit areas with over 50 per cent of the school zone designated "Red Zone" and a loss to the school roll in excess of 200 children. This is where the government really needs to step in an ban all exports of building and construction materials. The exception will allow students to return to New Zealand in stages from April 2021. Ultimately, about $2 billion of capital from the government and private insurers will be converted into expenditure to rebuild the capital that was lost. Why Do Cyclists Ride In The Middle Of The Road? Infrastructure improvements by definition are an increase in products and services and have the benefit of improving commerce which stimulates productivity increasing products and services. Chris Liddell – yes, he worked for Trump, and he risked his job by recognising the need for a smoo... Who are the men looking for love on The Bachelorette NZ? “they could create 20 Million” should be “they could create 200 Million”, Just wanted to thank you for the explanation nzfp… I’m busy absorbing it…. The hidden fault that caused the February 2011 Christchurch earthquake. And borrowing is pretty much the same as selling an asset. 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Cause them to drop September 2010quake, there will be little to long-term production capacity and others been. Week: the blogging firm of Michael Bassett, don Brash and Rodney Hide, a 9.1 earthquake!
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