Debt Archive

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  Stronger collective bargaining will create a more stable economy - by Russel Norman

  
  
  
  The IMF released a study late last year that found that the global financial crisis was, in part, driven by growing inequality. In brief, they found that the American middle classes went into great levels of debt to keep up with the rapidly increasing consumption habits of the wealthiest 5% of American society. The IMF [...] read more
  June 12, 2011 7:13 pm - 20 Comments
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  Podcast: How to pay for Christchurch - by frog

  
  
  
  The Green Party have a plan to pay for Christchurch — a temporary levy on income — one that avoids adding more debt to the Government’s books. I talked to Green Party Co-leader Dr Russel Norman about the details of that plan. Click the arrow thing to listen… Click to play If you’re having problems [...] read more
  April 4, 2011 11:43 am - 2 Comments
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  Joyce thinks importing cars, trucks & fuel is good for our trade balance - by frog

  
  
  
  In today’s Sunday Star Times, Joyce has an unsurprising reply to Rod Oram’s excellent piece last week (which critiqued the NZTA’s dodgy business cases for the Roads of National Party Significance).  It’s a bit ironic because Joyce starts off making the case that we are in debt and we need to get out of debt. [...] read more
  November 29, 2010 12:02 am - 24 Comments
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  How about a guarantee for customers as well as banks? - by frog

  
  
  
  The Government is selling its move to guarantees bank deposits a a bold response to the current financial crisis.  In reality it had little choice because all other countries, and in particular Australia, were already doing the same thing.  It’s a necessary response to other countries actions following the financial crisis. Because all New Zealand [...] read more
  October 14, 2008 10:42 am - No Comments
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  Opening the books - by frog

  
  
  
  Today is opening the books day when all the parties get to see how much is in the piggy bank to spend on election promise.  The general consensus is that the latest round of tax cuts and a recession means that Dr Cullen might have left the piggy bank empty for the next government.  That [...] read more
  October 6, 2008 9:45 am - 6 Comments
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  National looks short of cash - by frog

  
  
  
  John Armstrong’s commentary in the Herald this morning on borrowing to fund infrastructure combined with The Dog & Lemon’s call for the National Party to clarify its position on toll roads, paint a worrying picture for voters who are still shopping about. Personally I think National can validly try to raise a debate about increasing [...] read more
  August 21, 2008 1:11 pm - 8 Comments
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  Fairness in lending - by frog

  
  
  
  Sue Bradford hosted the launch of Finsec‘s Fairness in Lending Report this morning at Parliament. The report promotes a reforming and regulating the financial sector by establishing a lending code and code of social responsibility for all financial institutions, not just banks. These codes will be a new watchdog agency with a broad systematic overview [...] read more
  August 7, 2008 1:12 pm - 9 Comments
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  Oil drops again, to $118.77 - by frog

  
  
  
  Oil fell through another $10 level yesterday, bringing much needed relief to all and sundry. So dependent are we on the black stuff that virtually no one and no human process can claim to be immune to the changes in price. Some are speculating that Tropical Storm Edouard, having missed the big oil producing areas [...] read more
  August 6, 2008 9:41 am - 14 Comments
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  Oil, the Monetary Merry-Go-Round and US Dollar Dominance - by frog

  
  
  
  I think that everyone would agree that it would be disastrous for the world economy if its reserve currency, the US dollar, collapsed. Many people blame today’s high oil price on the decline of the dollar, but that doesn’t tell the whole story. The price of oil has risen 110% in a few years while [...] read more
  May 5, 2008 11:03 am - 30 Comments
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  The end of Petrodollars - by frog

  
  
  
  I wrote a huge post yesterday trying to tie up a whole lot of interconnected issues, so I’ll try not to go on so long again today. Luckily Celsias has already done it for me with a very full article that covers the links between the traditional trade of oil in US dollars (also known [...] read more
  April 11, 2008 4:23 pm - 21 Comments
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  $0.5 billion trade debt with Thailand. China is next - by frog

  
  
  
  Last week I covered the growing trade deficit with Singapore since New Zealand signed a preferential trade agreement with Singapore in 2001. I also talked a bit about BERL‘s analysis of the beneficial effect that import replacement [pdf] could have on the economy. As well as Singapore New Zealand also signed a preferential trade agreement [...] read more
  March 25, 2008 9:35 am - 2 Comments
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  62,000 jobs or trade with China - by frog

  
  
  
  The latest statistics from our Overseas Merchandise Trade show that last year we exported $2.0 billion dollars worth of stuff to China. But we imported $5.6 billion dollars worth of stuff. That’s a total trade deficit of $3.6 billion with China alone (our trade deficit with the rest of the world tells a similar story) [...] read more
  March 24, 2008 1:19 pm - 28 Comments
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  Student debt – borrowing to live - by frog

  
  
  
  Yesterday’s discussion about tertiary debt focused heavily on the stereotypical law, medicine or business students, forgetting at times that there are many thousands of student studying hairdressing, plumbing, nursing and other skills or trades. (And let’s not forget that there is no such thing as stereotypical law, medicine or business student who can easily pay [...] read more
  March 6, 2008 8:39 am - 9 Comments