Luxon, Willis et al all think in (at most) three year terms, the long term is a foreign country for them. So bottom end tourists, low wages and extractive industries make sense - and the media sells them as the better managers of the economy! I remember being stunned that the Exxon Valdez oil spill was good for the GDP, that’s when I realised economics was a load of crap when it comes to real people in a real world.
Good morning Bryan and everyone, yes, you sure hit the nail on the head firmly Bryan. This silly woman Nicola Willis opens her mouth again before she remotely does any homework or thinking. Increased tourism? Yes, the lack of ferry planning is one thing for sure. I loved it when the mayor of Queenstown mentioned for the government to help with increased infrastructure... Poor Queenstown is already groaning with maximum daily flights, accommodation is at capacity. Think of Milford Sound and queues. This beautiful green getting away from it all remote experience. Where do Chinese tourists want to go to? After Covid a reset of tourism was contemplated... What has happened to that? So, this this government wants to mine willy nilly, fresh water regulations and environmental controls diluted. What happened to our clean and green image our tourists were looking for? I honestly don't think young 35 dollars a day tourists are going to make much difference, but of course they're very welcome! 😊
But there are different ways of "doing" economics. Those who promote our current form of economics have always told us "there is no other way" - that certainly was their mantra when embedding neo-Liberal economics in the 1980-1990's. There are economists out there who are promoting a different direction if we would only listen.
And maybe we could promote a "Pacific" way of economics to counter the vilification some cast on terms such as "socialism". A Pacific economics would reflect valuing community, respect for environment, etc -values which are there already amongst the people of the Pacific.
Following the Christchurch earthquakes, when we were still living in broken houses and fighting with EQC and insurance companies, the Key government kept reminding us how good the earthquakes were for the GDP of the nation. Needless to say it did little to help the morale of those of us living with trauma and devastation.
In the thrall of the mad oligarchs - nothing is ever enough. Growth for its own sake is like a cancer. Re the tourism thing, as well as shortage of infrastructure, all those extra flights are adding to climate change. Many questions not asked indeed.
Well written Bryan. Gold mining in Coromandel is the classic example of Aotearoa having no benefit apart from a 2% royalty Look at Waihi town, Martha has been mined (still is) for 125 years now. Is the town of Waihi a rural Remuera? Most miners are transient so make no investment in the area, the surrounding agriculture sustains the town. The wealth from Martha Hill mining went overseas to Parklane, Mayfair etc.
On RNZ, when pressed, Shane Jones said mining would return $2-3 Billion. When Ingrid Hipkiss asked 'Over how many years?', his reply 'over a ten year period'.
What happened to critical thinking? Volume tourism has already proven to be problematic. Remember the 600 people lined up for the Tongariro toilets. Mining, yeah-nah, only produces NZD $2.6 billion per year. Whoopie doo. Australia’s annual mining revenue is AUD $524 Billion. Shane Jones, wake up. Luxon, wake up. My point, mining isn’t NZ’s super power. So what is? That’s a better line of inquiry and frankly, that’s where investment is required in research and development. Most of the agricultural and horticultural products exported are just commodity traded, which surrenders most of the value to others. The opportunity to move up the value chain along with innovating the marketing system between production and final consumption beckons. It is low-hanging fruit. For example, Parmigiano Reggiano PDO generated revenues of NZD $5.5 billion in cheese in 2023, double NZ’s mining output. Now, I’m not advocating dairy per se, but I am advocating innovation and design thinking and system dynamics approaches to figure out the answer to the question: what are New Zealand’s super powers. Come on Nicola, wake up. Hot tip: leverage the right talent to begin with.
And what did Fonterra do? Sold off everything that wasn't milk powder production!!!!
Sometimes I feel like - as a country- we're the dumb kid sitting at the back of the classroom because the teacher had given up on us. No offense to teachers 💜
Maybe this coc see tourism as just another resource to be drained dry. Not quite as destructive as mining but it still has a major impact on our delicate country. I say delicate because this ecosystem that we call home, isn't there to be mass marketed and flogged off to tourists, just so them in power can brag about what a great job they've done 🤔
This govt do seem not at all bothered by any possible social consequences of their actions. You have to wonder if they have no intention of being returned to govt & just want to do as much damage as they can, in order to make more profit for the already wealthy
Shane Jones claims that the area on the Coast where the mining will be allowedd is 'infested with rats & weasels.'
That is simply not true. There are no politicians living there...
It's getting to the point I can't read this stuff any more. It seems too hopeless. Like, how does a democracy work when people can do this much damage without any opposition. (I'm not dissing the left so much as the media)...but just generally, I don't think selling NZ to the highest bidder can be allowed by ANY politician, no matter how greedy or immoral they are.
I understand how you feel Shell but if we are silent, if we don't keep up with them, if we don't talk with our friends and whanau about what's happening then ..they win.
Hi Shell, Me too..😱. but the good media investigators like Bryan , Bernard Hickey ,Dr Gary Payinda and Mountain Tui.. keep going and are calling out this craziness..
Prior to Covid lockdowns I once visited an isolated Bay at the bottom of the South Island - a couple of holiday cribs, a public toilet and nothing else - except for numerous freedom vans. 10:00am and the toilet block was buzzing, clothes being washed in one basin, someone spitting toothpaste on the ground by an exterior tap - rubbish bin needing emptying - we queued for the toilet. Got me thinking- who cleans this as we are miles from anywhere, and who pays the cleaners, provides toilet paper, etc? Who carries the burden of cheaper tourism?
Exactly Liz! Our small provincial towns notice the freedom campers - they don’t spend much in our towns. I have a friend who runs a camping ground - she often catches these campers making use of the showers & toilets…. Usually very late at night. Our rates have gone up a lot over past couple of years, having to upgrade our water & sewage system.
I wonder how many now realise they were ‘done’ over 3 Waters?
Scary stuff. It almost seems this govt is emboldened by what's hapening in the "States" (can hardly call them united anymore). I'd be interested in your take on the Wellbeing Economy Alliance Aotearoa (WEAll Aotearoa https://www.weall.org.nz/ ) and what it is working towards, in the context of this post, Bryan.
Thank you Marlies if you go to Head2 Head in the navigation bar you will find two interviews I did with them Episodes 25 and 31 with Gareth Hughes and Dr Katherine Trebeck
Thankyou Bryan for articulating so clearly what all economists know at their heart of hearts. Concepts/slogans like increasing GDP, higher growth, more productivity are simplistic and dangerous in todays complex world, but they are shorthand for letting the free market rip. That is get out of the way by abolishing constraints rules and regulations and reducing the size of the state so that the private market can do its magic. They will soon be claiming success, because economic activity will reach a low point from which the only way is up. The deeper the recession, the higher the eventual growth rates will look. Take an extreme example to illustrate: suppose GDP is 400b and falls to 300b because government cuts its spending; the loss is 25%. Now suppose it recovers and grows from 300 to 400, the growth rate is 33%. Volia success!! But sadly on current policy setting the composition of GDP will be structurally changed, not for the better. The only solution is to put growth of the wealth and wellbeing of the lowest 50% of the population including our children at the centre of policy.
Right now, we need some decent protections to cushion this group from the impact of this ferocious recession. The deficit must be allowed to widen as these fiscal cushions of income protection, benefits and working for families and job creation do their rightful work of preventing a depression-like outcome.
So good and poignant. Yet another mastermind produced animation. I should replicate in a painting for my wall. These jerks of the COC are producing a Kakistocracy!
Luxon, Willis et al all think in (at most) three year terms, the long term is a foreign country for them. So bottom end tourists, low wages and extractive industries make sense - and the media sells them as the better managers of the economy! I remember being stunned that the Exxon Valdez oil spill was good for the GDP, that’s when I realised economics was a load of crap when it comes to real people in a real world.
Good morning Bryan and everyone, yes, you sure hit the nail on the head firmly Bryan. This silly woman Nicola Willis opens her mouth again before she remotely does any homework or thinking. Increased tourism? Yes, the lack of ferry planning is one thing for sure. I loved it when the mayor of Queenstown mentioned for the government to help with increased infrastructure... Poor Queenstown is already groaning with maximum daily flights, accommodation is at capacity. Think of Milford Sound and queues. This beautiful green getting away from it all remote experience. Where do Chinese tourists want to go to? After Covid a reset of tourism was contemplated... What has happened to that? So, this this government wants to mine willy nilly, fresh water regulations and environmental controls diluted. What happened to our clean and green image our tourists were looking for? I honestly don't think young 35 dollars a day tourists are going to make much difference, but of course they're very welcome! 😊
Dream on Nicola Willis.
But there are different ways of "doing" economics. Those who promote our current form of economics have always told us "there is no other way" - that certainly was their mantra when embedding neo-Liberal economics in the 1980-1990's. There are economists out there who are promoting a different direction if we would only listen.
Yes, Marilyn Waring springs to mind
And maybe we could promote a "Pacific" way of economics to counter the vilification some cast on terms such as "socialism". A Pacific economics would reflect valuing community, respect for environment, etc -values which are there already amongst the people of the Pacific.
Following the Christchurch earthquakes, when we were still living in broken houses and fighting with EQC and insurance companies, the Key government kept reminding us how good the earthquakes were for the GDP of the nation. Needless to say it did little to help the morale of those of us living with trauma and devastation.
In the thrall of the mad oligarchs - nothing is ever enough. Growth for its own sake is like a cancer. Re the tourism thing, as well as shortage of infrastructure, all those extra flights are adding to climate change. Many questions not asked indeed.
Well written Bryan. Gold mining in Coromandel is the classic example of Aotearoa having no benefit apart from a 2% royalty Look at Waihi town, Martha has been mined (still is) for 125 years now. Is the town of Waihi a rural Remuera? Most miners are transient so make no investment in the area, the surrounding agriculture sustains the town. The wealth from Martha Hill mining went overseas to Parklane, Mayfair etc.
On RNZ, when pressed, Shane Jones said mining would return $2-3 Billion. When Ingrid Hipkiss asked 'Over how many years?', his reply 'over a ten year period'.
Last few seconds of this (link to podcast version) https://pca.st/x8quco1l
So $200 Million/year to stuff up our own backyard, what a deal
What happened to critical thinking? Volume tourism has already proven to be problematic. Remember the 600 people lined up for the Tongariro toilets. Mining, yeah-nah, only produces NZD $2.6 billion per year. Whoopie doo. Australia’s annual mining revenue is AUD $524 Billion. Shane Jones, wake up. Luxon, wake up. My point, mining isn’t NZ’s super power. So what is? That’s a better line of inquiry and frankly, that’s where investment is required in research and development. Most of the agricultural and horticultural products exported are just commodity traded, which surrenders most of the value to others. The opportunity to move up the value chain along with innovating the marketing system between production and final consumption beckons. It is low-hanging fruit. For example, Parmigiano Reggiano PDO generated revenues of NZD $5.5 billion in cheese in 2023, double NZ’s mining output. Now, I’m not advocating dairy per se, but I am advocating innovation and design thinking and system dynamics approaches to figure out the answer to the question: what are New Zealand’s super powers. Come on Nicola, wake up. Hot tip: leverage the right talent to begin with.
And what did Fonterra do? Sold off everything that wasn't milk powder production!!!!
Sometimes I feel like - as a country- we're the dumb kid sitting at the back of the classroom because the teacher had given up on us. No offense to teachers 💜
So much opportunity, so little leadership.
Yes I'm with you on that.
None taken.
Oh so true.
We are already at risk of ruining the things the tourists come to see...think Milford Sound, overtourism.
And shopping has become the new leisure....we are out buying stuff we don't need, with money we haven't got, to impress people we don't like!
If you want see what sort if throw away Society we are...go have a look out the back of one of the local op shops.
No one in that Coalition of chaos and destruction are practicing critical thinking. They are blind to what thinking is, as are so many people.
Maybe this coc see tourism as just another resource to be drained dry. Not quite as destructive as mining but it still has a major impact on our delicate country. I say delicate because this ecosystem that we call home, isn't there to be mass marketed and flogged off to tourists, just so them in power can brag about what a great job they've done 🤔
This govt do seem not at all bothered by any possible social consequences of their actions. You have to wonder if they have no intention of being returned to govt & just want to do as much damage as they can, in order to make more profit for the already wealthy
Shane Jones claims that the area on the Coast where the mining will be allowedd is 'infested with rats & weasels.'
That is simply not true. There are no politicians living there...
It's getting to the point I can't read this stuff any more. It seems too hopeless. Like, how does a democracy work when people can do this much damage without any opposition. (I'm not dissing the left so much as the media)...but just generally, I don't think selling NZ to the highest bidder can be allowed by ANY politician, no matter how greedy or immoral they are.
I understand how you feel Shell but if we are silent, if we don't keep up with them, if we don't talk with our friends and whanau about what's happening then ..they win.
So true, Shell!
Hi Shell, Me too..😱. but the good media investigators like Bryan , Bernard Hickey ,Dr Gary Payinda and Mountain Tui.. keep going and are calling out this craziness..
A daily meditation helps 👍
Prior to Covid lockdowns I once visited an isolated Bay at the bottom of the South Island - a couple of holiday cribs, a public toilet and nothing else - except for numerous freedom vans. 10:00am and the toilet block was buzzing, clothes being washed in one basin, someone spitting toothpaste on the ground by an exterior tap - rubbish bin needing emptying - we queued for the toilet. Got me thinking- who cleans this as we are miles from anywhere, and who pays the cleaners, provides toilet paper, etc? Who carries the burden of cheaper tourism?
Exactly Liz! Our small provincial towns notice the freedom campers - they don’t spend much in our towns. I have a friend who runs a camping ground - she often catches these campers making use of the showers & toilets…. Usually very late at night. Our rates have gone up a lot over past couple of years, having to upgrade our water & sewage system.
I wonder how many now realise they were ‘done’ over 3 Waters?
Yes, bring on another earthquake. Sorry just can't help my cynicism with the continual increase growth narrative from politicians.
How much environmental degradation will people accept to achieve the growth that the nactoids aim for ???
Scary stuff. It almost seems this govt is emboldened by what's hapening in the "States" (can hardly call them united anymore). I'd be interested in your take on the Wellbeing Economy Alliance Aotearoa (WEAll Aotearoa https://www.weall.org.nz/ ) and what it is working towards, in the context of this post, Bryan.
Thank you Marlies if you go to Head2 Head in the navigation bar you will find two interviews I did with them Episodes 25 and 31 with Gareth Hughes and Dr Katherine Trebeck
Just watched the Trebeck interview she is so positive & super interesting to listen to thankyou for bringing that to us Bryan.
Thank you, I will. 👍🙏
Thankyou Bryan for articulating so clearly what all economists know at their heart of hearts. Concepts/slogans like increasing GDP, higher growth, more productivity are simplistic and dangerous in todays complex world, but they are shorthand for letting the free market rip. That is get out of the way by abolishing constraints rules and regulations and reducing the size of the state so that the private market can do its magic. They will soon be claiming success, because economic activity will reach a low point from which the only way is up. The deeper the recession, the higher the eventual growth rates will look. Take an extreme example to illustrate: suppose GDP is 400b and falls to 300b because government cuts its spending; the loss is 25%. Now suppose it recovers and grows from 300 to 400, the growth rate is 33%. Volia success!! But sadly on current policy setting the composition of GDP will be structurally changed, not for the better. The only solution is to put growth of the wealth and wellbeing of the lowest 50% of the population including our children at the centre of policy.
Right now, we need some decent protections to cushion this group from the impact of this ferocious recession. The deficit must be allowed to widen as these fiscal cushions of income protection, benefits and working for families and job creation do their rightful work of preventing a depression-like outcome.
So good and poignant. Yet another mastermind produced animation. I should replicate in a painting for my wall. These jerks of the COC are producing a Kakistocracy!