Media watch – Tuesday

14 August 2018

MediaWatch

Media Watch is a focus on New Zealand media, blogs and social media. You can post any items of interested related to media.

A primary aim here is to hold media to account in the political arena. A credible and questioning media is an essential part of a healthy democracy.

A general guideline – post opinion on or excerpts from and links to blog posts or comments of interest, whether they are praise, criticism, pointing out issues or sharing useful information.

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19 Comments

  1. High Flying Duck

     /  August 14, 2018

    A sobering report for those saying business confidence is all a Tory beat up:

    “However, this week’s business PMIs were a disconcerting look at actual business activity, even if they weren’t the first. Factory expansion has essentially stalled in July.

    Worse, last week’s retail sales data for July was probably more damaging – even if most analysts missed a key aspect. And that was, rising spending is essentially because the amount we pay for petrol leaped in July. For Aucklanders it was worse – because the 11.5c/L regional fuel tax kicked in. That spending is crowding out other spending. We are having to cut back, and the bite will get sharper.

    This is what business is seeing. Business confidence is a leading indicator. Economic growth reports are among the last data to reflect what is going on. (One mimic, ANZ’s Truckometer which is a good forward indicator of economic growth is wavering.)

    We have drawn together a simplified household budget for a median aspirational family. As regular readers will know, we monitor home loan affordability in a number of key ways, for first home buyers (25-29 year old couple, no kids), and first rung buyers in two scenarios; firstly 30-35 year olds with one child of 5 yrs, and one partner only working half time (they sold their first home and used the capital gain to trade up to a median price home). The second scenario is for a 30-39 year old couple with one child, both working full time – who also sold their first home, but traded up five years later.

    We can use the income and spending of the 30-35 year old median household to test how they have fared.

    And the answer is, they have mostly gone backwards, especially in Auckland. We looked at their likely household budget both as renters and homeowners. It gives a sober, concerning picture.

    Remember, this is not the budget of a family on struggle street, even if there are warning signs here. Nationally, half the people on this group will be doing better, half worse. But at the median, they are generally slipping backwards.”

    https://www.interest.co.nz/personal-finance/95278/confidence-economy-wavering-and-there-are-least-five-key-reasons-most-related

    It concludes:

    “Ministers pointing backwards about how good it has been are seriously missing what is going on now, and how tough it may get for many (but not all) over the next year. It is the mid-income taxpaying families who don’t work for the government who are pulling in their spending. And that is exactly what the latest set of Government accounts to May, 2018 show: company tax receipts fell -$261 mln or -2.3% below forecast levels, an early sign that all this stress is starting to flow through to the wider economy.”

    • Blazer

       /  August 14, 2018

      average families concerns are not a reflection of ,business confidence,,,,

      • High Flying Duck

         /  August 14, 2018

        “PMIs were a disconcerting look at actual business activity, even if they weren’t the first. Factory expansion has essentially stalled in July.”

        • Blazer

           /  August 14, 2018

          in Australia…which has a right wing Govt…’I see many articles that Australia business confidence is decreasing in the last 3-4 months in a row !’…from your link.

          • High Flying Duck

             /  August 14, 2018

            I didn’t cast blame. There is no conspiracy, and business confidence is down for a genuine reason.
            It would be good if those in power acknowledged that instead of sticking heads in the sand.

            • Blazer

               /  August 14, 2018

              acknowledging it would do,exactly what…MSM has been reporting it religiously…

            • High Flying Duck

               /  August 14, 2018

              Acknowledging it would perhaps give people (and business) some confidence the Government are aware of the business climate and are working to mitigate the negative effects.
              As it is, the Government is making things worse by giving the strong impression they have NFI.

      • High Flying Duck

         /  August 14, 2018

        “company tax receipts fell -$261 mln or -2.3% below forecast levels, an early sign that all this stress is starting to flow through to the wider economy.”

        • Blazer

           /  August 14, 2018

          debunk this…if you can…

          • Corky

             /  August 14, 2018

            Graeme Hart…Maori Gravy Train Riders. John Banks. Sir Robert Jones.

            No feudalism holding them back. Wealth and power is all in the mind, Blazer.

            • Blazer

               /  August 14, 2018

              Hart =welfare/GPO,Maori settlements=irrelevant,Banks=patronage,Jones=RJI/debacle.

            • Corky

               /  August 14, 2018

              I think you miss the point others may like to point out to you.

            • Blazer

               /  August 14, 2018

              DUMB LUCK EH !

          • High Flying Duck

             /  August 14, 2018

            The implied power of those on the right, is completely non-analogous with the left side.
            The fact is, if you have an education and know how to budget, being in the 98.5% can be a very satisfying existence. You don’t need a high income or great wealth or patronage. Hard work and careful budgeting provides all you need.
            Avoid consumerism, stay healthy and live within your means. The rest follows.

            • Blazer

               /  August 14, 2018

              so no argument with the pyramid on the right then..some more food for thought.

              ‘One year after the passage of the Federal Reserve Bill, congressman Lindbergh explained how that bill created what has come to known as the business cycle, and how bankers use it to manipulate business, and property ownership, for the benefit of the bankers only. “To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate, producing an expansion of credit and a rising stock market, then when businessmen are adjusted to these conditions, it can check prosperity in mid-career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation, and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money. They know in advance when to create panics to their advantage. They also know when to stop panic. Inflation and deflation work equally well for them when they control finance.’

              the good old ‘business cycle’…reach for the..dial.

  2. Zedd

     /  August 14, 2018

    I was just watching Democracy Now (USA Indep. news) part of this song was played..

    one year since the last ‘Alt-Right’ march in Charlottesville !

    3 cheers MrT for promoting this racist B-S

    • Zedd

       /  August 14, 2018

      I dont mean the song is ‘racist B-S’.. but the topic certainly is !

  3. Corky

     /  August 14, 2018

    Hey! If you want tats; fine. But don’t whine snowflakes if other people won’t employ you because they don’t like your tats in their business.

    https://www.stuff.co.nz/business/106215507/air-new-zealands-tattoo-ban-is-unusual-among-employers

  4. Corky

     /  August 14, 2018

    I honestly wouldn’t want to be this lady. A good hiding, many times over, is a certainty.

    https://www.radionz.co.nz/international/pacific-news/363928/samoan-nurse-charged-with-manslaughter-over-vaccine-deaths