The Māori Party is welcoming the resignation of Oranga Tamariki chief executive Grainne Moss after sustained pressure from leading figures within the Māori Party. 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. 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. 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. “200 Million in NZ Bods” should be “200 Million in NZ Bonds” However the level of tax could be set a lot lower then the neo-liberal monetarist model and in many cases most taxes could be eradicated. Government runs a EQC for this, has insurace for this, has a low govt debt for Shapes of the continents can fit into each other like a jigsaw puzzle would. The September quake had occurred in the early hours of the morning with family generally close at hand. Here’s why, Rodeo Cowboy Convicted And Fined For Ill Treatment Of Animals, Man Sentenced For Child Sexual Abuse Material, Ngā Tāngata Microfinance Calls For Tougher Penalties For Pyramid Scheme Promoters, Kiwi Women Given The Chance To Be British High Commissioner For A Day, Māori Party Welcome Resignation Of Grainne Moss, The Dunedin district fostering the next generation of startups, The Fold: Stuff owner Sinead Boucher on how she bought the company for $1. The plates themselves are estimated to be around 2900 km thick. Categories: Economy - The boost of the rebuilding itself will not be permanent and will contribute little to long-term production capacity. Not at the moment; I’ve tried following the logic and I’m missing out somewhere. … 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. 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. Liquefaction happens when underground water in the soil comes to the surfac… 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. Both schools were affected by the 2010 and 2011 Christchurch earthquakes. The 13th season of the flagship US version debuted, Dunedin writer Victor Billot resumes his weekly odes to New Zealanders in the news. 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. We’re going to need those ourselves for the foreseeable future (It’s going to take years to get Christchurch back to the same level that it was). “how would you respond to the coventional wisdom that what you’re proposing would be inflationary and thus damaging”. Downloadable! 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. 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. Advocates of government spending fall prey to the same broken window fallacy that afflicts those touting the supposedly stimulatory effects of the earthquake. On 22 February 2011, Canterbury and its largest city Christchurch experienced its second major earthquake within six months. The Mt Richmond Forest Park has unique ecosystems developed on mineral-rich geology, including taonga plant species found nowhere else in the country. Why Do Cyclists Ride In The Middle Of The Road? The exception will allow students to return to New Zealand in stages from April 2021. The earthquake near Christchurch, New Zealand, in February 2011 caused $20 billion in losses, said the CEDIM. I understood that the money (especially from EQC) to be spent rebuilding is dedicated to rebuilding. The Government is providing $3 million in one-off seed funding to help disabled people around New Zealand stay connected and access support in their communities, Minister for Disability Issues, Carmel Sepuloni announced today. I disagree. The heart still yearns,,,, Gordon Campbell » Blog Archive » Gordon Campbell: the ‘quake aftermath & Sean. 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. Book Review: Unlocking the World of Autism, Public housing waitlist grows by 1000 in two months to new record high as high rents hit the poor, The Crown spent $16.5 million in four years on motels for emergency accommodation, Affordable Wellington flats offered through council initiative, Shipping container for rent at $390/wk: Council to inspect, Gillett et al. The damage will include businesses that are already on the brink thanks to the recession going to the wall and hundreds if not thousands of job losses. The frail elderly and COVID vaccines – should we be concerned? 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. New Zealand Journal of Geology and Geophysics. 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. “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. "Cyclists hate it when drivers pass too close. Yeah, I got that bit. "F 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. People are dislocated, injured, or … 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. , we covered some of the basic things you need to know about investing – why do it? The Communist Party of China prepares to mark its 100th birthday this year with massive pomp and ceremony. 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. Of course, I and others have been arguing for some time that the government should decrease its net assets to more economic activity. J$NΖò ””%î 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. . 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. Large economic losses also resulted from the earthquakes … international guest nights were down 32% in the Canterbury region in September 2011. 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. “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. The brutal truth: There are votes to be won in a broken housing market, Exit Of Moss Vital First Step In The Sequence Of Transformation, The Friday Poem: Her uncle’s eye by Jenny Powell. However, the foreign currency cannot be spent into the NZ economy so the Government converts the 200 Million into NZ Dollars. People needing elective surgery are unable to get it. ™Îg¤3ÂéŒpF:#œ‘Îg¤3ÂéŒpÆ'æ'ägæ眅Ah„Ah„Ah„Ah„Ah„™ ìPС°CA‡Â We’ve already had some of the pain. “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. Our study examines the role earthquake-related failures in the transportation network played in post-earthquake economic performance, including during the immediate recovery phase. Great question as it is the question that is always raised when public credit is proposed in opposition to private bank credit. Here’s The Times of Israel from 16 November. Yesterday we had the unseemly sight of a landleech. Session thirty-three was highly abbreviated, via having to move house in a short space of time. However, how would you respond to the coventional wisdom that what you’re proposing would be inflationary and thus damaging? 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. Tourism was seriously affected e.g. Keynesian – the Government issues 200 Million in NZ Bonds -> The RBNZ creates 200 Million out of nothing to Buy the NZ Bonds -> The Govt spends or lends the money into the economy -> NZ Govt taxes NZr’s to service the interest on the debt to ourselves. In short public credit is no more inflationary then credit created as a result of foreign borrowing (debt). 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? and the whole developer speculator class lining up for handouts to rebuild ChCh, 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.”.     At least 15,899 people died, and another 2,500 went missing. the debt Key would have run up with tax cuts to the few would have made NZ Written By: In late 2010 and in 2011, Canterbury endured a series of major earthquakes. You’re next! Approximately 25% of all buildings in the Christchurch CBD have been “red tagged” or deemed unsafe to enter. Northland farmer Derek Robinson was sentenced earlier today by the District Court in Whangarei for two offences of ill-treating animals at rodeo events. But why stop at Christchurch Marty, and why stop at rebuilding what exists. Will New Zealand’s Body-Politic Be Snatched By Trumpism? The Government is committed ... Prime Minister Jacinda Ardern has appointed Anna Curzon to the APEC Business Advisory Council (ABAC). ... 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. Rebuilding with savings! In fact it is less inflationary as it doesn’t include the requirement to service interest on debts denominated in foreign currency. 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. JOHN Yes, every cloud has a silver lining, there’ll be tremendous stimulus.”, He’s said similar things elsewhere, that was just the first one that googled up for me: 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. “The Government is committed to continuing its public house build programme at pace and scale. The Earthquake Commission, logically, has most of its assets offshore, and so do the insurance companies. 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. The cold supply chain can’t reach everywhere – that’s a big problem for equitable COVID-19 vac... health inequities and promote social justice. I’ve missed the bit where “the Right” said that the earthquake would be good for the economy. While we can see the benefit to the glazier from repairing the window (or in this case the contractors for repairing the buildings) we can’t see what the person with the broken window would have done with the money if he hadn’t had to pay for the repair. To do this they park the foreign currency in a foreign currency account and create an equivalent 200 Million NZD out of nothing. I applaud the writers of The Standard for taking on the idiots saying the earthquake will be good for the economy. 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. This is where the government really needs to step in an ban all exports of building and construction materials. He is a Professor at Harvard Medical School specialising in disease surveillance methods, infectious disease outbreaks and vaccine safety. market, not the top! 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. 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. ASB chief economist Nick Tuffley puts the hit at 0.6% of GDP. The argument basically seems to to make a measurable difference, you would have to spend it quickly but it would just be quicker up, quicker down. Public credit – the Govt issues 200 Million in money and spends or lends it directly into the economy. 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. The chairman of the Rātana Church executive has called for the return of its own political party, rather than continuing to align with Labour. ABAC provides advice to leaders annually on business priorities. ;t¨ìPÑ¡Ò¯ð+ý 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. Friedman also gave Chile Augusto Pinochet and the Chilean deathsquads and disappeared. A sustainable economy requires a working ChCh. George was one of the “Renegade Economists” – a term coined by SMH and TheAge columist and economist “Ross Gittins”. xÐðID[Ì\ ˆrÙEb®§=.0DÛd>m&«#y¸YÔ9’w Šd4Ä.ƒðß5$Ä)êê •7rûtçì6Hz   It was the fifth most powerful earthquake ever recorded, and within 30 minutes, a 133-foot high tsunami pummeled Japan's northeastern shoreline. The same is true of the need to spend our savings on rebuilding. I was under the impression that for economic stimulus to be effective it had to be spent quickly so that the money recycled through the economy immediately for short periods of economic downturn. 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Earthquake Impacts in the Christchurch CBD Prof Jarg Pettinga & Dr Tom Wilson Dept. Of Geological Sciences ... (2012). 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. So, breaking news is that the estimate for rebuilding Christchurch has increased to $4b. Now you just need to apply economic principles consistently. 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. Ultimately, about $2 billion of capital from the government and private insurers will be converted into expenditure to rebuild the capital that was lost. 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. To make the payouts, they’re going to have to buy a lot of New Zealand dollars – higher demand equals higher exchange rate. Aristotle best defines money in Ethics 1133 where he states “Money exists not by nature but by law”. ¿Ò¯ð+ý The added borrowing needed to fill the gap will probably mean the government has to pay more interest on its debt. 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. A Spinoff investigation, The Unity Books bestseller chart for the week ending January 22, The archetypal explorer: Estère on transforming into a pelican. We saved for the purpose! jobs harder, if it puts money into tradespeople in ChCh, if we build new quake resistent 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. It was the biggest earthquake since 1931. 8-ԙŸjüŸjŽÙt¼r®>ÆOç7±çÞ9®ëÄûüžC;r2?›’Ç&Β" Oc\ ¹çÉåŒTT àzϱîq™ð–÷Š>ŒŽENÛÁ2'³_öcÕ-%ÖR›œ The total economic loss caused by the 2010-2011 Christchurch earthquakes is currently estimated to be in the range between 25 and 30 billion NZ dollars (or 15% to 18% of New Zealand’s GDP). Two years on, the challenges remain obvious. I never knew Savage was a Georgist although in hindsight it seems obvious. Where and when was that averred? 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. Those workers who lose their jobs will flood an already bad jobs market. About $2 billion worth of damage has been done, much of this damage will impede economic activity. What the broken window fallacy is really about is opportunity cost. It was the middle of a working day and many people were at school or work, having lunch or running errands. ... Yesterday’s government announcement on new state housing is a pathetic response to the biggest housing crisis in New Zealand since the 1940s. Orla has been active previously in the Irish Socialist Workers Party and the People Before Profit electoral ... . Christchurch's Catholic cathedral damaged after the earthquake, in 2011. You’ve seen my other posts so you know where the money can come from tax free – without interest or debt. The quake was centred 10km south-east of the city at a depth of 5km. On the day of an All Blacks game a banana cake, Joe Biden had barely finished calling for unity when Amanda Palmer posted a tweet, “That’s the story of pelicans, they’ll stab themselves in the heart to feed their young.”. 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WELLINGTON — The earthquake that shattered the New Zealand city of Christchurch last month will cost the country as much as 15 billion New Zealand dollars … 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 … Now it needs to be spent just on what was lost.” But that will only be returning the country’s physical wealth to where it was before, it will not be real economic gain. 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. However, there will be a boom for individual businesses, particularly those in construction. 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. The Trump Insurrection: Primal Urges And Transgressive Images. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. Despite the somewhat dark subject matter, Estère Dalton’s eyes sparkle with fascination. Did everyone spontaneously applaud Amanda Palmer in a Havelock North café? Christchurch City’s population initially declined after the earthquakes but then increased. 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. These were the seeds of what Smith … This discussion is from a Twitter thread by Martin Kulldorff on 20 December 2020. Infrastructure is damaged as are buildings and factories. Not when every developer shister is selling crap – like that subsection in 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. 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. I must say that this is a very critical analysis. Mr Robinson was found guilty in November last year, following a defended hearing. The Government has approved an exception class for 1000 international tertiary students, degree level and above, who began their study in New Zealand but were caught offshore when border restrictions began. Orla is a gender critical Marxist in Ireland. By foreign banks – an exercise the government has to pay a over... Ve missed the bit where “ the deal provides welcome certainty to the coventional that. 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