Why Do So Many Astronomy Discoveries Fail to Live Up to the Hype? re-investment. I disagree. Waihopai Spy Base Protest, Saturday January 30th, 10.30 A.m. Rātana leader urges followers to break away from Labour, Stronger business investment – by farmers, too – is essential for NZ’s post-Covid recovery, Why are Japan’s leaders clinging to their Olympic hopes? ¿Ò¯ð+Í Considering these points it makes it difficult to take seriously the economic theory of somebody who is unable to correctly define money and who’s economic theories influenced the architect of Washington Consus neo-liberal monetarist policy – the fruits of which are evident in the current Global Financial Crises. The frail elderly and COVID vaccines – should we be concerned? Shapes of the continents can fit into each other like a jigsaw puzzle would. Nothing more from me today - I'm off to Wellington, to participate in the city's annual roleplaying convention (which has also eaten my time for the whole week, limiting blogging despite there being interesting things happening). “The issues facing Oranga Tamariki are beyond individual ... Editor’s Note: Here below is a list of the main issues currently under discussion in New Zealand and links to media coverage. However, the Austrian School of Economics defines money as a commodity with intrinsic value, which is contradictory to historical and empirical evidence. The heart still yearns, http://tvnz.co.nz/q-and-a-news/q-interview-john-key-3760861?tvnzmp=1, http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10671573&, http://www.stuff.co.nz/business/industries/4107029/Shaky-times-for-the-economy, Gordon Campbell » Blog Archive » Gordon Campbell: the ‘quake aftermath & Sean. It was the biggest earthquake since 1931. Once again you are labouring under the misapprehension that, while an earthquake destroying buildings is bad for the economy, the government spending money to “stimulate” the economy is good. Why Do Cyclists Ride In The Middle Of The Road? “200 Million in NZ Bods” should be “200 Million in NZ Bonds” a Greece, Ireland, Spain. 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. But at What Cost? Tags: earthquake. The quake was centred 10km south-east of the city at a depth of 5km. endstream endobj 98 0 obj <> endobj 99 0 obj <> endobj 100 0 obj <> endobj 101 0 obj <> endobj 102 0 obj <>stream It sounds like a conveyancing firm in Levin. Economic cycles move a lot quicker than decision makers apparently which renders a lot of these decisions irrelevant. We use detailed (neighbourhood-level) … Susan St John makes the case for taxing a deemed rate of return on excessive real estate holdings (after a family home exemption), to redirect scarce housing resources to where they are needed most. “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 Government is committed ... Prime Minister Jacinda Ardern has appointed Anna Curzon to the APEC Business Advisory Council (ABAC). George was one of the “Renegade Economists” – a term coined by SMH and TheAge columist and economist “Ross Gittins”. ¿Ò¯ð+ý Westpac, using a model derived from the Los Angeles and Napier earthquakes, estimates that $300 million of economic activity will be lost (0.2% of GDP). The arms on which Twyford is focused, it should be noted, will make quite a mess if they are triggered. He influenced Milton Friedman. The stimulus effect is a lost cause – yes firms and contractors are going to get big injections of Govt and insurance money – but they are probably going to direct it to paying off debt (household and company) and saving reserves for (the next) rainy/shaky day. Given how long it takes it get building permits, import building materials (which adds to the current account deficit) and get a builder, I would have thought the stimulus effect would be extremely diluted by the anticipitated time this money will be spent over. ;t¨ìPÑ¡Ò¯ð+ý But progress has come much quicker, and they're now, Happy New Year! The funding will allow disability service providers to develop digital and community-based solutions over the next two ... Border workers in quarantine facilities will be offered voluntary daily COVID-19 saliva tests in addition to their regular weekly testing, COVID-19 Response Minister Chris Hipkins said today. Of course, I and others have been arguing for some time that the government should decrease its net assets to more economic activity. This is also part of the State Theory of Money. I applaud the writers of The Standard for taking on the idiots saying the earthquake will be good for the economy. On this basis, how could the money have been spent re-igniting the economy etc.? But that will only be returning the country’s physical wealth to where it was before, it will not be real economic gain. Session thirty-three was highly abbreviated, via having to move house in a short space of time. 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. Stress over the long term, that is within families and individuals will result in many problems further down the track for health authorities, social services, etc. Liquefaction happens when underground water in the soil comes to the surfac… Labour is building thousands of new state houses as part of our work to ensure every Kiwi has a warm, dry place to call home. And when I woke up this morning, America was different. the debt Key would have run up with tax cuts to the few would have made NZ ... 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. You’re next! 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? The magnitude 6.3 Earthquake severely damaged New Zealands second largest city. ABAC provides advice to leaders annually on business priorities. Rebuilding with savings! While employment and population trends are a particular concern for the region, business and consumer confidence and retail sales improved in late 2011, … 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. 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. However, how would you respond to the coventional wisdom that what you’re proposing would be inflationary and thus damaging? By the way: (2021) global warming attribution study, Human vs. Natural Contributions to Global Warming chart. Impact of the Christchurch earthquakes on the electrical power system infrastructure . Once the rebuilding is over, the GDP boost will disappear. Evening On The Land (For The United States of America), 2021 SkS Weekly Climate Change & Global Warming News Roundup #2, Guest post: How human activity threatens the world’s carbon-rich peatlands, Grainne Moss’ resignation welcome, it must pave way for Māori leadership at OT, More public houses where they’re needed most, Worsening housing crisis must prompt action, Celebrating the Entry Into Force of the Treaty on the Prohibition of Nuclear Weapons, Supporting disabled people to stay connected, Voluntary saliva testing offered to quarantine workers from Monday, Prime Minister congratulates President Joe Biden on his inauguration, Jobs for Nature funding will create training and employment opportunities, Pre-departure testing extended to all passengers to New Zealand, Bay Cadets learn skills to protect environment, Cook Islanders to resume travel to New Zealand, Supporting communities and landowners to grow employment opportunities, Border exception for some returning international tertiary students, Tiwai deal gives time for managed transition, New member for APEC Business Advisory Council, Govt’s careful economic management recognised, Additional actions to keep COVID-19 out of NZ, 19 projects will clean up and protect waterways, New Zealand Government acknowledges 175th anniversary of Battle of Ruapekapeka, Objective Must Be To Avoid Another Lockdown, Lockout Threat: Lifewise Homecare Support Workers Won’t Give Up, Live updates, January 24: Probable new community case of Covid-19 in Northland, The broken promises that led to Brexit Britain, The mystery of the holy relics buried in a steel box beneath a Christchurch basilica, In praise of bananas, the greatest fruit of them all, On the Rag: How sexism in design impacts our everyday lives, Google goes nuclear, threatening to pull the plug on its search engine in Australia. Look at the data, not news headlines, School Strike 4 Climate is holding a "100 Days 4 Action" rally outside Parliament on the 26th. ³Ò©p Ñ`0 Ñ`0 Ñ`0 ±CCFÁcô. The US House of Representatives has just impeached Donald Trump, giving him the dubious honour of being the only US President to be impeached twice. market, not the top! People who say it’s good for the economy are forgetting that the rebuilding is funded by giving up our savings and the option to spend them elsewhere. The Christchurch Earthquake (2011) Home; Causes ; Impacts ; Mitigation; References; Plate Tectonics. 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). To counter this the Government has two options: 1. The estimated $15 billion rose to $20 billion. Likewise, replacement buildings are likely to have better earthquake strengthening incorporated (or you’d like to think so). Milton Friedman gave us the Washington Consensus and the Chicago School of Economics which in turn gave us Rogernomics and Ruthenasia in the 80’s and 90’s. This time it was often colleagues, classmates or complete strangers who comforted and hel… Following the February earthquake, wastewater discharges of about 13,000 m³ per day could have caused severe de-oxygenation between the Opawa Rd Railway Bridge and Ferrymead, potentially causing significant fish kills. For example, when considering energy efficiency, it is often uneconomic to retro-fit energy efficiency measures to a built structure, whereas it is quite economically viable to incorporate energy efficiency into a new build. Yes what I’m saying is Pie in the Sky but as you well know this was the policy of Sir Michael Joseph Savage so it’s happened before. http://tvnz.co.nz/q-and-a-news/q-interview-john-key-3760861?tvnzmp=1. The Communist Party of China prepares to mark its 100th birthday this year with massive pomp and ceremony. The Tax ensures the velocity of money – that it circulates. His influences included: Frédéric Bastiat, Philip Wicksteed and Ludwig von Mises. Infrastructure is damaged as are buildings and factories. Those workers who lose their jobs will flood an already bad jobs market. I’ve missed the bit where “the Right” said that the earthquake would be good for the economy. We'll highlight some of these interactions in this blog post. "F “The Battle at Te Ruapekapeka Pā, which took ... “If today’s probable case of Covid-19 in Northland turns out to be community transmission the Government’s overarching objective must be avoiding another lockdown,” says ACT Leader David Seymour. Most Cantabrians were away from their homes when the 6.3-magnitude earthquake struck at 12.51 p.m. on 22 February 2011. 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.”. Ultimately, about $2 billion of capital from the government and private insurers will be converted into expenditure to rebuild the capital that was lost. 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. Rescue workers are lowered by crane onto the top of the Christchurch Cathedral in Christchurch, New Zealand, Feb. 25, 2011 after the city was hit by a 6.3 earthquake Feb 22. NZIER was already forecasting that growth in this December quarter would be -0.2%. Will New Zealand’s Body-Politic Be Snatched By Trumpism? The Māori Party is welcoming the resignation of Oranga Tamariki chief executive Grainne Moss after sustained pressure from leading figures within the Māori Party. Paul Henry on Monday. Both schools were affected by the 2010 and 2011 Christchurch earthquakes. 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 rebuilding will increase GDP by about 1% of a year’s output when it is spent because GDP simply reflects economic activity in a given time period not accumulated wealth. 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). Self-entitled prima donnas or do they have a point? Of course, we meant by borrowing, rather than selling assets like the EQC will but essentially it’s the same thing from the perspective of the government books. New Zealand Journal of Geology and Geophysics. The hidden fault that caused the February 2011 Christchurch earthquake. Christchurch Earthquake Simon Swaffield Place, culture and landscape all provide continuity to our lives. That’s likely to be much worse now. ... 12 new books explore fresh approaches to act on climate change, Authors explore scientific, economic, and political avenues for climate action, Weather reporting turns into climate recording, Leading a quartet of researchers, Chunlüe Zhou produces a, tour de force of improved and more productive data exploitation in the paper, NASA says 2020 tied for hottest year on record — here’s what you can do to help, “They’re here already! At the same time there’s some question about availability of resources. Our study examines the role earthquake-related failures in the transportation network played in post-earthquake economic performance, including during the immediate recovery phase. Goods exports and manufacturing activity appear to have held up well. Already you can see the injustice and fraud of this system: NZ Govt sells 200 Million in NZ bonds -> Foreign Bank creates 200 Million from nothing to Buy Bonds -> NZ Govt creates an equivalent 200 Million against the 200 Million in Foreign currency created by foreign banks out of nothing -> NZ Govt spends or lends the new money into the economy -> NZ Govt taxes NZr’s to service the interest on the foreign debt (GST increases). ... [Opening comments, welcome and thank you to Auckland University etc] It is a great pleasure to be here this afternoon to celebrate such an historic occasion - the entry into force of the Treaty on the Prohibition of Nuclear Weapons. Should tech giants control the public square? The sudden departure of Graine Moss from her Chief Executive role at Oranga Tamariki is a vital first step in a sequence of changes that must take place at the Ministry according to a group of wahine Māori leaders. The exception will allow students to return to New Zealand in stages from April 2021. 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. So while the government isn’t necessarily knocking things down (although wars do plenty of that), it is still fallacious to tout the results of stimulus without thinking about the other side of the ledger. Did everyone spontaneously applaud Amanda Palmer in a Havelock North café? Imagine the quake with Key in charge in 2006-7, So, breaking news is that the estimate for rebuilding Christchurch has increased to $4b. I understood that the money (especially from EQC) to be spent rebuilding is dedicated to rebuilding. No, experts are not concerned that “. The Public Service Association welcomes the creation of a Chief Executive role to lead the public service’s pay equity work, and the appointment of Grainne Moss to this position. The assault on the US Capitol and constitutional crisis that it has caused was telegraphed, predictable and yet unexpected and confusing. At the bottom of the 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. 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. New house listings have surged so far this year – but it’s not enough, 2021 SkS Weekly Climate Change & Global Warming News Roundup #3. The overall effect would be hugely beneficial to our economy and would result in a net lowering of all taxes. But the one place they converge is that ... Getting to Browser Tab Zero so I can reboot the computer is awfully hard when the one open tab is a Table of Contents for the Journal of Environmental Economics and Management, and every issue has more stuff I want to read. Hey Rex, 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? that we can trust big business, that markets will save us not good regulation. and the whole developer speculator class lining up for handouts to rebuild ChCh, A Big Science Publisher Is Going Open Access. 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. 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. It is for the economy as a whole that there is a net loss. 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. Longer term: once the rebuilding is over, there will be little to show for it. J$NÎò %î “The best news would be that this is a false alarm, ... E tū Lifewise homecare members have been taking strike and picket action since December 2020 for basic improvements in their working conditions. The Government is putting in place a suite of additional actions to protect New Zealand from COVID-19, including new emerging variants, COVID-19 Response Minister Chris Hipkins said today. “…we could have spent that money on re-igniting the economy…” 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’. The party decided to ignore the tree-monster and continue the attack on the Giant Troll. Population. 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. Identifying the economic impact is difficult. 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. This boom and bust might further damage business confidence and, with it, longer-term growth. 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 … We are rebuilding! 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. The added borrowing needed to fill the gap will probably mean the government has to pay more interest on its debt. Friedman also gave Chile Augusto Pinochet and the Chilean deathsquads and disappeared. Von Mises gave us Ayn Rand and Libertarianism. The rebuilding of Christchurch will not be like that it’s not going to create sustainable economic momentum or add greatly to the productive capacity of Christchurch. Environmental, economic and social impacts affecting Christchurch. Overall, the Canterbury economy has been reasonably resilient to the impact of the earthquakes, and the spillover to other regions in New Zealand has been limited. Where Trump warned of carnage, Biden dared to hope for unity and decency. Any foreign capital that comes into our nation for investment of purchases of NZ products could be used to service current debts – while the Govt creates credit to fuel infrastructure instead of borrowing. The 200Million in Foreign Currency was created out of nothing at all by foreign banks – an exercise the Government could do itself. Yesterday we had the unseemly sight of a landleech. be that its a cost, but actually its more like a reinvestment. As it was deliberately set aside for a specific purpose, it can’t be used for another purpose. Dire wolves went extinct 13,000 years ago but thanks to new genetic analysis their true story can no... Twitter’s suspension of New Zealand-based right-wing accounts ‘an overreaction’ – Simon Bridges, NZ right-wingers caught up in global purge of Twitter accounts, Twitter crackdown reaches NZ: Hundreds of NZ right-wing users kicked off Twitter, Skeptical Science New Research for Week #2, 2021. It is hard to disentangle the effects of the earthquakes from other The earthquake … 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. The same is true of the need to spend our savings on rebuilding. In the first month of this year, there’s been more RuPaul’s Drag Race than ever. . In both cases they think only of one side of the transaction, those who financially benefit from the broken window/government spending, while forgetting those who are worse off, the person with the broken window/less money because the government has taken it to give to someone else. Of course, that’s just jobs that would otherwise be lost saved, not new jobs created. Air quality decreased in Christchurch city in 2011, exceeding the national air quality standard on 32 days. The chairman of the Rātana Church executive has called for the return of its own political party, rather than continuing to align with Labour. The slow-down in commercial construction was about to put 20,000 jobs at risk. What do you want our government to achieve on climate action in their first 100 days? Northland farmer Derek Robinson was sentenced earlier today by the District Court in Whangarei for two offences of ill-treating animals at rodeo events. Approximately 25% of all buildings in the Christchurch CBD have been “red tagged” or deemed unsafe to enter. “I look forward to building a close relationship with President Biden and working with him on issues that matter to both our countries,” Jacinda Ardern said. So instead of spending $50 back in 1990, the government spent $40 and banked $10. 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. Marty G - Date published: It could have be so much worse. The government will lose tens of millions of dollars in tax revenue and face big increases in costs from emergency benefits, ACC claims, and its share of the cost of rebuilding local infrastructure before we even get to the EQC payouts. The Earth Quake represents the single best opportunity for real economic progress for our country. But the idea is that a stimulus package gets the economy revved up again and builds up its production capacity. Public credit – the Govt issues 200 Million in money and spends or lends it directly into the economy. By 28 April, discharges had reduced to about 4000 m³ per day. America: The Empire Strikes Back (at itself) Further to my comments in the first part of 2020: The History That Was, the following should be considered regarding the current state of the US. Essentially it is the same as pure Keynesian theory with the exeption that we don’t borrow from our own bank but have the Treasury create the money directly – otherwise the rules apply. Boom and bust might further damage business confidence and, with it, longer-term.. Primal Urges and Transgressive Images the founder of the market, not the top of 2010-11 required a recovery... 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