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Post by eri on Sept 10, 2023 7:12:24 GMT 12
back from a holiday in japan
used to be that small wealthy countries; like switzerland, uk and japan
had more expensive petrol than nz due to higher gov. taxes
in japan last month 91 unleaded was about 170yen/ltr, which at the current forex rate of 0.85, is nz$2 ltr
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Post by ComfortZone on Sept 10, 2023 9:34:35 GMT 12
back from a holiday in japan used to be that small wealthy countries; like switzerland, uk and japan had more expensive petrol than nz due to higher gov. taxes in japan last month 91 unleaded was about 170yen/ltr, which at the current forex rate of 0.85, is nz$2 ltr seen similar in countries I have been visiting, New Caledonia where almost everything is extortionately expensive, Petrol is NZD$2.55; Vanuatu was NZD$2.74 On another matter we met an expat Aussie doing solar installations in Vanuatu, he said the take up there is huge due to the cost of reticulated power, $1.20/kWh. Customers were seeing installation payback in less than 2 years. Power on Efate is mainly Thermal/oil generated, there is some small hydro, solar and wind. |
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Post by jim on Sept 10, 2023 10:10:46 GMT 12
Does Japan have a ETS ... I read recently the ceo of waitomo? or allied? said after the next units auction they'll pass on the cost of another 20 cents/litre. that auction was a fizzer and no units met the $72 reserve. if i understand correctly (i may have mis-interpreted) the december auction will have a reserve of 170 , and some commentators are pointing out that the effects of this scheme are crucifying consumers.
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Post by Hugh Jorgan on Sept 10, 2023 21:50:23 GMT 12
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Post by fish on Sept 11, 2023 10:35:40 GMT 12
PREFU comes out tomorrow. That is why Fatty Robinson's proxy the CTU is going hard making mischief now, cause once the PREFU comes out we will all see just how hopeless an economic manager Robinson and Labour are. I'm actually a little concerned about it. We haven't had the 'austerity' word come up in this election campaign yet, but what the right block are already talking about, and Labour to a lesser degree, is the need to slash govt spending in the face of a fiscal meltdown. We currently can't afford to pay the Nurses and Dr's properly, while Labour have been blowing coin on light rail and cycle bridges over the Harbour, not to mention wokism upon wokism. Britain is broke, the City of Birmingham has declared bankrupt cause it can't pay for the wokist 'fair pay' requirements. And what makes us any different from Greece? All we need now is a major shock to the productive sector of the economy - agriculture - with a massive feckin drought (El Nino), and our main trading partner (China) going into recession. |
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Post by Hugh Jorgan on Sept 11, 2023 10:44:17 GMT 12
Greece is warm and not divided.
But yip! We are screwed and labour are the screwdriver 🪛.
Economy education health law and order... All ruined!
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Post by fish on Sept 11, 2023 13:35:59 GMT 12
Greece is warm and not divided. But yip! We are screwed and labour are the screwdriver 🪛. Economy education health law and order... All ruined! Yes Greece may be warm, but last I heard they were too broke to pay anyone that worked for the govt. Accept cops. They needed to keep paying the cops so they could quell the riots and stuff. My example is that there are many countries that can't afford to pay for basic services, like paying their teachers, dr's, nurses, police and fire fighters. If NZ isn't careful, we could end up in a very similar situation. As a country we need to focus on productivity, not rules and wokism. If only there was a political party advocating for that in this election. Party vote ACT ;-) |
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Post by GO30 on Sept 11, 2023 21:55:13 GMT 12
Does Japan have a ETS ... I read recently the ceo of waitomo? or allied? said after the next units auction they'll pass on the cost of another 20 cents/litre. that auction was a fizzer and no units met the $72 reserve. if i understand correctly (i may have mis-interpreted) the december auction will have a reserve of 170 , and some commentators are pointing out that the effects of this scheme are crucifying consumers. Yeap the last auction was a fizzer which is a wee arse as that means lots of millions less the Govt can pass onto rich overseas based multinationals.
Not sure the reserve price raises but in the next auction all the unsold from the last ones go in so there will be a motherload on offer and as the supply V demand things works, if there is motherloads then the price drops. But there is a minimum and if that doesn't get reached I believe all the credits on offer but unsold by year end get deleted.
I'm happy I offloaded mine earlier this year and used the proceeds to buy a post hole borer, the flash one with a hydraulic ram to push the bugger down as gravity sux but in hard ground it doesn't sux enuff.
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Post by jim on Sept 12, 2023 9:28:28 GMT 12
Yep - i went back and read some more about this crazy scheme some dweebe dreamed up and you're right - if those units don't sell at the next auction in december then they get deleted. my reading keeps using a figure of $172 reserve for future auctions though so (i guess) fonterra and the fuel companies etc will be forced to pay up large and then turn their gaze to the poor mum trying to feed her kids and keep the old datsun going...
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Post by ComfortZone on Sept 12, 2023 18:49:09 GMT 12
from Taxpayers Union after PREFU (Pre-Election Fiscal and Economic Update) was released
Our economic team are just out of the Treasury lock-up where they've been studying the Pre-Election Fiscal and Economic Update (PREFU).
And things are bad, really bad.
We were expecting a blood bath, but what has been delivered is better described as a "shambles" – a butcher's slaughter house.
The opening of the books reveal that the Government is spending more than ever before. Astonishingly, Grant Robertson is spending even more now than he did during the height of COVID lockdowns.
According to the IMF, New Zealand is now running the second largest fiscal deficit of all the developed economies.
Core Crown Debt has exploded out to more than 160 billion dollars. Per person, that is nearly $123,000 for the typical household of Mum, Dad, and two kids. For the average (smaller) household it is just shy of $82,000.
And the interest costs are enormous. Already we were paying more for debt services than for law and order (Police, Corrections, the Courts etc), but now it's projected to be $9.8 billion by 2027 – which is more than what we are forecast to spend on schooling kids!
Our kids will be paying dearly for Grant Robertson's recklessness
Grant Robertson has pulled all the tricks to try and massage today's figures. He told the Treasury to slash projected future spending so that he can provide false assurances about getting back into surplus.
But the numbers do not lie. Treasury has exposed that Grant Robertson's deficit spending now amounts to $72 million per day.
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Post by sloopjohnb on Sept 13, 2023 8:02:05 GMT 12
From BBH. ROB MacCULLOCH: NZ's Big News Story should be ... NZ's Big News Story should be "Treasury Pre-Election Update shows plummeting consumption per capita" I can't make sense of the Finance Minister's statements today regards the "Pre-Election Economic and Fiscal Update" by the NZ Treasury. He claims the country is in better shape than expected and that the "forecasts showed New Zealand would avoid recession, with wages keeping ahead of inflation". So here's my question - GDP growth up to June 2024 is forecast to be just over 1% (the forecast has been raised slightly from 1.0 to 1.3%). On the other hand, it is also stated immigration is now running at 100,000 a year, corresponding to an increase in 2% of our entire population. But if total GDP is only growing at a bit over 1% and the population is growing at 2%, then GDP per capita must be declining (since GDP per capita equals total GDP over population size). In other words, from an individual perspective, we are entering a deep recession. But the Finance Minister says Kiwis are getting better off since our inflation-adjusted incomes are rising. Can a journalist please ask Robertson how GDP per capita, which measures the average income of a Kiwi, is falling based on his own Pre-Election Economic Update whilst at the same time tells 5 million Kiwis that we're getting better off? If you don't believe me, then take a look at the graph of GDP per capita on page 7 of the Treasury's Pre-election report (see link below). What really blows my mind is the following figure - in particular the black line that shows the amount Kiwis are consuming on a per capita basis, after adjusting for cost-of-living changes:  It's set to plummet at a rate not far off from what occurred during the first lock-down in 2020. And consumption is a good measure of living standards. According to former Chair of the Reserve Bank Board, Arthur Grimes, consumption is the best predictor of well-being and we are meant to have a "well-being" government. Kiwis are going backwards. Sources: www.rnz.co.nz/news/political/497824/election-2023-pre-election-economic-and-fiscal-update-release-government-books-in-better-shape-than-expected www.treasury.govt.nz/sites/default/files/2023-09/prefu23.pdf motu-www.motu.org.nz/wpapers/16_12.pdf First published at Down to Earth Kiwi. Robert MacCulloch worked at the Reserve Bank of NZ, before he travelled to the UK to complete a PhD in Economics at Oxford University. He pursued research interests at London School of Economics and Princeton University, before joining Imperial College London Business School. Robert subsequently returned to his alma mater in NZ. |
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Post by ComfortZone on Sept 13, 2023 9:22:01 GMT 12
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Post by sloopjohnb on Sept 13, 2023 9:43:04 GMT 12
Don't see a graph like that in the MSM!
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Post by eri on Sept 14, 2023 8:47:04 GMT 12
if that was spending of the joint account by the new partner, after the old
you'd need to have a serious talk about your future
the public are doing that now with the left
but they won't learn
they can't learn
they are firmly of the belief they we just need to work harder and spend less
so they can work less and spend more
we have all the "obligations"
they have all the "rights"
and that's why we have no future with them
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Post by eri on Sept 14, 2023 17:31:36 GMT 12
just in time for the election wellington councilor, breaks secrecy orders, and spills the beans of wellington's coming financial implosion after years of spend-thrift lefty councils wellingtonians voted in a young green mayor.... after the largest? 12?% rates rise in a major city she's now probably going to have to preside over the largest cuts to their bloated services $100's of millions "Wellington Mayor Tory Whanau has previously acknowledged it was a tough economic climate, but said now was the time to be bold, rather than trying to keep rates down."www.nzherald.co.nz/nz/financial-crisis-wellington-city-council-told-to-drastically-cut-capital-spending/J3ILPMV47JBQPBCGEJEJTVQOYI/go woke go broke of course chippy is telling us
he's going for broke |
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